Southwest Florida Real Estate Blog

The concept of seller financing isn't new but it has become a hot topic in rapidly growing and competitive real estate markets like ours in Southwest Florida. In the simplest terms, seller financing happens when the seller acts as a lender, extending credit to the buyer to cover a part or all the purchase price of the home.

The 2023 Florida Legislature has extended the Hometown Heroes program with an additional $100 million, effective from July 1, 2023, expanding eligibility and increasing the maximum loan amount. Eligible first-time homebuyers with a minimum credit score of 640 and earnings less than 150% of their area's median income can apply for the program to receive up to $35,000 in down payment assistance.

US consumer prices rose 0.1% in May, signaling eased inflation. Yet, with a year-over-year inflation rate at 4% and high core prices, Fed officials remain cautious. Despite dropping gas and grocery prices, high rental and used car costs continue to pressure the economy.

Florida's Senate Bill 264, the "Interests of Foreign Countries" law, passed with overwhelming support. It restricts certain foreign individuals/entities from buying Florida properties, based on specified conditions. It bars foreign principals from acquiring agricultural land or having significant indirect interests.

Choosing the right title company / closing agent is one of the best ways in which you can minimize your problems at the closing table. The closing agent is the person who coordinates all the transactional details of the closing and as such plays a crucial role in real estate transactions by ensuring the validity and security of property ownership.

Many consumers these days are turning to the Internet to replaced the critical importance of the working with an experienced Realtor with local knowledge. Online platforms such as Redfin, Zillow, and Trulia have made house hunting easier, but working with a Realtor remains crucial for a successful transaction.

Citizens Insurance is shifting up to 26K policies to private firms in order to manage its growing customer base. The move aims to mitigate financial risks, especially from major hurricanes, and comes as a new law requires policyholders to accept private offers within 20% of Citizens' rates.

Florida Governor DeSantis has approved a bill allowing landlords to offer tenants the option of paying monthly fees in lieu of a security deposit. Advocates believe it provides relief to tenants facing steep rental costs by eliminating large upfront sums. Critics, however, express concerns over the lack of an upper limit on these fees and the non-refundable nature of the payments.