Rodney Cantrell’s Blog

1. Tampa-St. Petersburg-Clearwater 2. Palm Bay-Melbourne-Titusville

Winter sales take 50-57 days, while spring and summer sales are faster at 41-44 days in Florida. In Early-Q1, it takes 46 days to sell a house, compared to 31 days Late-Q4.

The average contract interest rate for 30-year fixed-rate mortgages increased to 7.06%. Refinance and home purchase mortgage applications dropped significantly due to the surge in rates. Potential homebuyers are affected by the higher rates and home values in the current market. Adjustable-rate mortgages are becoming more popular despite their higher risk. Continue to full article

Volusia County banned short-term rentals in unincorporated areas in 2021. Legislation in Florida aims to regulate short-term rentals statewide, preventing local governments from outright banning them. The proposed law could help property owners and boost the local economy. Continue to full article

International Women's Day, also known as IWD for short, grew out of the labour movement to become a recognized annual event by the UN.It all started in 1908 when 15K women marched through NYC demanding shorter working hours, better pay and the right to vote. Things were made official in 1975 when the United Nations…

Refinancing your mortgage can impact your home equity depending on the type of refinance you choose. Traditional mortgage loan refinancing doesn't decrease home equity, while options like home equity loans or HELOCs do. Cash-out refinancing can also result in a loss of home equity. Continue to full article

Florida's community associations must submit beneficial ownership reports under the Corporate Transparency Act (CTA).The CTA poses uncertainties for property managers, with potential civil and criminal penalties.

Two insurance companies in Florida, Castle Key Insurance and Amica Mutual Insurance, have requested rate hikes of over 50% for specialized policies such as condos and vacation homes. The Florida Office of Insurance Regulation has scheduled hearings on these requests. The rate increases are attributed to higher costs for home repairs and severe weather losses.…

Average Floridian homeowners pay ~$4K yearly, triple the US avg due to exits House Bill 809 aims to limit coverage to unpaid mortgage principal, potentially reducing premiums.

The FOMC meets regularly to discuss adjusting the federal funds rate. The current rate is 5.25% to 5.50%, the highest since 2001. The Fed is unlikely to cut rates in March, but it may happen in May. In the meantime, consider opening a certificate of deposit and improving your credit score. When rates do go…