Florida Sees the Surge in New Listings
by: Anthony DiMaio
Newsweek recently reported that Florida is one of the hottest markets, hottest in terms of people wanting to sell, than any other market in the country. According to the report, the State of Florida has the highest number of motivated sellers, which translated into nearly 5,000 listings. (It’s kind of like feast or famine, right?)
The motivated seller designation indicates that the homeowner is willing to sell the property for less than listed price.
Other states with high numbers of motivated sellers, not as high as Florida though, are California, New York and Texas. Florida came in with 4,925, Texas came in with 1,775, California 1,066 and New York with 424.
As of the end of February, Florida posted 202,000 listings. California had 72,000 listings and Texas had 172,000.
The Elephant in the Room
No one imagined that the entire insurance industry would go rogue with respect to home insurance and flood insurance but that is just the case in Florida. Many policies have increased to $10,000 a year. For retirees on a fixed income, this makes the Sunshine State unaffordable.
It’s not just the fact that insurance rates have gone up dramatically, but it’s more accurate to say that Florida insurance companies aren’t interested in writing policies in the state anymore. So one way to go about this is to raise rates to the point that no one could afford them.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
Connect with Ralph on LinkedIn: https://www.linkedin.com/in/ralphaponte/