Expert: Covid-19 made it vital to resolve the widening disparity between income and housing costs

Central Florida has a well-documented and dire shortage of housing affordable to working families earning at or below the area median income. New data from the National Low Income Housing Coalition’s “Out of Reach” report highlights the widening disparity between income and housing costs. Florida continues to rise in the coalition’s rankings — and not…

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Long-awaited Orlando agrihood seeks approvals

A $1 billion mixed-use community that blends neighborhood life with life on the farm plans to seek Orange County approval.  The Grow, a proposed 1,189-acre agrihood slated to be built in east Orange County, will go in front of the county’s technical review group Aug. 5. If approved, the development will feature 2,078 homes and…

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Orlando lawyers prep for flood of evictions, foreclosures

Central Florida attorneys are prepping for a seemingly inevitable wave of evictions and foreclosures that will impact businesses and residents and clog the court system. That’s because shuttered businesses and high unemployment caused by the coronavirus pandemic have people people here and across the nation falling behind on their mortgage and rent payments. In addition,…

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Winter Park lakeside home fetches week’s highest price tag

The new residents of Orlando’s most expensive residential property sold last week can catch views of the sunset over Lake Osceola from their master bedroom.  A 5,345-square-foot Winter Park home sold for $3.75 million on July 13, making it the priciest local home sale for the week ending July 18, according to the Orlando Regional…

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South Florida home sales dropped in June, but pending transactions are up

Miami-Dade and Broward experienced a dip in year-over-year residential transactions in June. But it’s not all gloom and doom: Pending sales increased year-over-year, a sign of activity increasing since April. The total number of home sales decreased by over 20% in both counties, according to the Miami Association of Realtors June 2020 reports. Still, the activity is higher…

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Orlando homebuyers line up as demand surges

Christine Elias hasn’t eaten dinner before 10:30 p.m. for five straight nights.  In fact, the Winter Park-based Realtor has worked 15 consecutive days. That’s because demand for local homes is incredibly strong right now, and she’s working to keep up, she told Orlando Business Journal. “It’s nuts. Buyers are extremely active. They’re frenzying.”  While the coronavirus pandemic…

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New Home Purchase Mortgage Applications Spike 54 Percent in U.S.

The Mortgage Bankers Association’s latest Builder Application Survey for June 2020 shows mortgage applications for new home purchases in the U.S. increased 54.1 percent compared from a year ago. Compared to May 2020, applications increased by 20 percent. This change does not include any adjustment for typical seasonal patterns. “The new home purchase market continues to recover…

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Orlando residential real estate market rebounds in June

The arrival of summer brought a warming housing market to Orlando.  Local home sales were up nearly 46% from May to June, according to a July 15 report from the Orlando Regional Realtor Association, reversing two consecutive months of declining sales.  Residential rally  Sales are still down year-over-year as the coronavirus pandemic slows the economy,…

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