The Federal Housing Administration (FHA) is exploring alternative credit scoring models for those seeking Daytona Beach mortgages. The alternative credit scoring models could expand access to mortgage credit for responsible borrowers who may have thin credit histories or extenuating circumstance like medical debt. Many Unable to Obtain Daytona Beach Mortgages Due to restrictive lending many […]
Daytona Beach Flood Insurance Rates Increase
Higher rates for Daytona Beach flood insurance under the National Flood Insurance Program took effect on April 1st. The increase hiked individual policy premiums for homeowners in high-risk areas by as much as 25 percent. The Homeowner Flood Insurance Affordability Act of 2014 carries some premium increases of up to 18 percent for primary homeowners […]
Most Popular Renovations for Daytona Beach Homeowners
Daytona Beach homeowners, or at least half of them, plan to do some sort of renovations this year. This is according to an annual survey by LightStream, which also determined this year’s most popular renovation projects. (LightStream is an online lending division of SunTrust Banks Inc.) Renovation Projects Daytona Beach Homeowners Plan to Do Landscaping, […]
Mortgages Rising Faster Than Daytona Beach Home Prices
Mortgage amounts are rising more quickly than Daytona Beach home prices, an unusual phenomenon that seems to confirm continued weakness at the lower end of the housing market, according to the Mortgage Bankers Association. When Mortgages Began to Exceed Daytona Beach Home Prices The average size of mortgage loans began to outpace the recovery in […]
Buyers Want Bigger Daytona Beach Homes
When the housing bubble burst, the desire for buyers to want bigger Daytona Beach homes faded, but according to trends and statistics, that was short-lived and seems to be back to its 80-year trend of buyers wanting larger homes. Trends Moving Toward Bigger Daytona Beach Homes Zillow Chief Economist Stan Humphries says the trend is […]
Closing Costs Shock Young Daytona Beach Home Buyers
About two-thirds of millennials, adults between the ages of 18-34, who plan to become Daytona Beach home buyers are largely unaware of closing costs, creating a form of "sticker shock" for the largest generation in history. The finding comes from a survey by ClosingCorp. Across all adult age categories, more than one-third of potential homeowners […]
Getting Your Daytona Beach House Ready to Sell
Thinking of putting your Daytona Beach house on the market? Well, the spring home selling season is finally here, so now is the time to get your Daytona Beach house in order if you plan to sell. A home can be ready to list in as little as a month, especially if it's in good […]
Many Daytona Beach Properties Still Underwater
Many Daytona Beach properties were still underwater at the end of 2014. According to CoreLogic, about 5.4 million homes, or 11 percent of all U.S. residential properties with a mortgage, were still in "negative equity" at the end of the fourth quarter of 2014, meaning that a borrower owes more on a Daytona Beach home […]
Daytona Beach Housing Confidence Waning
There are signs that confidence in the Daytona Beach housing market is waning a bit with the latest new home construction data. Many analysts are still trying to figure out why housing starts nose-dived in February. Privately owned housing starts in February plummeted 17%, down to an annualized 897,000 from the revised January estimate of […]
Buying a Daytona Beach Home or Saying I Do?
Buying a Daytona Beach home is not always first in the minds of newlyweds, especially when you stop to think that total average spending on weddings has now exceeded $31,200! One might ask, "Should you spend that much on a wedding, or use the same dollars for a down payment on a Daytona Beach home?" […]
