Posts Tagged ‘Real Estate’
Struggling to pay your rent or mortgage? Florida will distribute $75M in federal aid
Orange County will get more federal funding for renter and mortgage assistance. The county will receive $7.26 million of the $75 million the state is distributing, Florida Gov. Ron DeSantis said during a July 17 press conference at the Wellington Park Apartments in Apopka. The funding comes through the federal Coronavirus Aid, Relief, and Economic Security (CARES)…
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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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Orange County approves a way to unsnarl housing holdup
Eighteen proposed housing developments stalled by a contradiction between Orange County’s rezoning process and a state law now have a path forward. The Orange County Board of County Commissioners on July 7 unanimously approved a change to the county’s comprehensive plan and voted to abate a county ordinance dealing with school capacity. This temporarily pauses…
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Osceola County to offer more grants to small businesses hurt by pandemic
Osceola County is offering more small businesses grants to those hurt by the ongoing Covid-19 pandemic, thanks to federal funding. The county government on June 29 opened its process to apply for funding with expanded criteria. In total, the county will provide about $3.2 million in funding for businesses for certain expenses such as rent,…
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Orange County to vote on pausing some building permit fees
It may become more affordable to build in Orange County — for a limited time — in an effort to spur more construction activity. The Orange County Board of County Commissioners will weigh on July 7 offsetting $10 million in building permits for a six-month period, according to county documents. And developers may be able…
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Realtors’ CEO: Real-estate market is on the rebound | Commentary
The word “recession” conjures up thoughts of foreclosures, for sale signs and half-constructed neighborhoods. We are living in uncertain economic times once again, triggering memories of 2008. But unlike the Great Recession, this is a medical crisis — not a real-estate crisis. Now is not the time to panic, but to understand the landscape and…
Read MoreTwo new solar farms to deliver power to six Florida cities, including Orlando and Kissimmee
Six Florida municipal utilities, including those in Orlando and Kissimmee, are joining the growing number of power companies able to provide their customers with solar power, a cleaner source of energy. By the end of June, two of five new solar farm sites, the Harmony Solar Energy Center in St. Cloud and the Taylor Creek…
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Orlando Is America’s Top Travel Destination—How Hard Has Its Real Estate Market Been Hit?
Each year, tens of millions of people arrive from all over the world to visit Orlando, FL. The twin titans of Disney World and Universal Studios entice folks to flock to Central Florida. But this year, of course, is very different. Tourism in the Orlando region, America’s top tourism and vacation spot, ground to a standstill…
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Orlando Home Prices Continue Upward Trend in May, Even as Closings Dive
The Orlando Regional Realtor Association is now reporting that Central Florida median home prices sold in May 2020 increased nearly 7% compared to May of last year, while transactions dropped 44% during the second consecutive month to illustrate the impact of COVID-19 on Orlando’s housing market. Inventory experienced a year-over-year decline of 11%. “Despite year-over-year…
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