Rodney Cantrell’s Blog
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Florida commercial property renters will soon get tax break
Starting June 1, the tax rate for renting commercial property in Central Florida will decrease from 4.5% to 2%. The reduction was initially set for July 1. The tax cut won't apply to short-term living rentals or commercial parking/storage spaces for boats and vehicles. Continue to full article
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Brought to you by The Cantrell Team | Florida Housing Market: Sunshine After the Storm?
Florida's real estate market stabilizes, offering incentives like closing cost credit, and more options for buyers.New construction and increased inventory contribute to market stability, according to real estate professionals
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Brought to you by The Cantrell Team | Florida Insurance: 5X National Average
Florida homeowners pay 5x the national avg for insurance, reaching nearly $12K yearly. The cost increased by 7% from 2023, making insurance affordability a challenge for many.
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Brought to you by The Cantrell Team | Affording a Home in Florida: Income Requirements
Floridians need $114,771 yearly to buy a median-priced home in 2024. Compared to 2020's $72,693, costs have surged due to high mortgage rates, rising home prices, and low inventory.
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What is Mortgage Refinancing? How Does it Work?
John and Kacie are freelance writers for Newsweek's personal finance team. They have contributed to various outlets and have expertise in personal finance. Mortgage refinancing involves replacing your current mortgage with a new one, offering benefits like lower interest rates and shorter repayment terms. Refinancing can also allow you to switch lenders, change loan types,…
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Brought to you by The Cantrell Team | Potential Impact of Hurricane Forecast on Florida’s Insurance Rates
CSU predicts 23 named storms for 2024, triggering concerns about increased insurance risk.Insurance companies may raise premiums to cover potential losses, reflecting the global reinsurance market's reassessment.
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Brought to you by The Cantrell Team | Federal Solutions for Florida’s Insurance Crisis
Federal Guarantees: – Proposal for the federal government to issue bonds post-disaster, reducing reinsurance costs for insurers. Reinsurance Costs: – Insurance companies are currently facing increasing reinsurance prices, impacting consumer rates. Florida
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Brought to you by The Cantrell Team | Skyrocketing HOA Fees Squeeze Homeowners’ Budgets
Property insurance costs are high, and condo and homeowners are complaining about increasing HOA fees. HOA fees jumped to $1400 annually for some homeowners, with upfront payment demands or biannual installments.
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What will happen to home prices if mortgage rates stay high? Experts weigh in
Experts suggest that if mortgage rates remain high, home prices could fluctuate. Inflation has surpassed 3%, leading to an increase in mortgage rates. Some predict home prices will rise due to low inventory, while others believe prices will stabilize. Buyers and sellers should monitor local market trends and compare lenders for the best rates. Continue…
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Brought to you by The Cantrell Team | Florida on a Budget: Finding Your Rent-Ready Income
Median monthly rent: $1,934 Monthly income needed: $6,447