Law Office of Ryan S. Shipp, PLLC

June 2017 Archives

Tips for success when buying a home in Florida

Shopping, financing and negotiating represent the major aspects of buying a home. A prospective homebuyer should consider every element in terms of meeting current needs and preventing future challenges. Setting a budget marks the first step, and a buyer should pick a figure that does not impose financial hardship. Since a future job loss or pay cut might make high payments impossible, buyers should be somewhat conservative about what they can afford.

CRE market data sends mixed signals to investors

Real estate investors in Florida and around the country have become more cautious in recent months as soaring prices have prompted many industry experts to predict that commercial property values are nearing their peak. Reports of a developing asset bubble remind many investors of the losses they suffered during the 2008 financial crisis. However, these concerns were not enough to prevent the Moody's/RCA Commercial Property Price Index from reaching a new high in April.

Interest rate increases not yet affecting CRE lending

Figures from the financial sector reveal that banks in Florida and around the country have been making fewer loans since the U.S. Federal Reserve started inching interest rates upward in December, but the commercial property sector has so far been able to avoid this trend. However, experts say that this is likely due to the nature of commercial real estate loans and not a reflection of the overall strength of the property market.

Saving for a home is difficult for the younger generation

A survey conducted by Apartment List paints a bleak picture for the future of home ownership in Florida and the rest of the United States. It focused on the 'millennial" or the 18-34 year old age group of Americans and their ability to afford a new home, and the results were summarized in the Wall Street Journal in May.

Deed in lieu of foreclosure: Is it the right option for you?

Financial trouble can affect almost every area of your life. It can be a stressful, overwhelming time, especially if you are facing threats of the loss of your Florida home and other consequences. Foreclosure may have a significant impact on your credit and your opportunities in the future, but even when you are hopelessly behind on payments, foreclosure is not necessarily your only option.

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