Fort Lauderdale Housing Market – April 2016
The housing market in Fort Lauderdale/Broward County when looked at overall appears to show a slight slow down in activity. Sales of single family homes dipped compared to April 2015, with 5% fewer homes under contract. The shortage of inventory in the single-family home market continues to increase median & average sale…
Longer Credit History Reporting May Impact Mortgage Decision
Starting in June 2016, mortgage lenders using Fannie Mae’s underwriting will be required to use trended credit data when underwriting single-family borrowers. Trended credit data gives lenders a more detailed history of the consumers credit utilization over a longer period of time. Now, lenders have access to the monthly payment amounts that a consumer has…
Late HOA Payments May Affect Credit Scores
A new partnership between Equifax and Sperlonga Data & Analytics will HOA and Condo Association late payments as well as account status data. Sperlonga is the 1st company to offer this non-standard credit data source to a leading credit monitoring company. Testing will begin in August 2016 will a planned…
Older Homes Lose Water Damage Coverage
According to several insurers in the state, increases in non-weather-related water damage claims and losses are forcing some homeowner insurance company’s to exclude coverage of water damage on homes older than 40 years old, or any home prior to 1976. That covers a large percentage of homes in the eastern portion…
Fort Lauderdale Housing Market – March 2016
The Fort Lauderdale/Broward County real estate market continues to thrive through the 1st quarter of 2016. Single-family home closed & pending sales are up over last year and the prior two months of 2016. The median price of single family homes has gone up over 2015, but it has fluctuated the…