FHA clamps down on risky government-backed mortgages

WASHINGTON – March 26, 2019 – The Federal Housing Administration (FHA) informed lenders that it will start flagging more high-risk loans. Those mortgages, many of which are extended to borrowers with low credit scores and high loan payments relative to incomes, will undergo a more rigorous manual underwriting process.




The FHA worries that lenders are making loans to borrowers who cannot repay them – and that will result in a jump in defaults that strain the agency's reserves.




The decision to tighten underwriting standards could mean that fewer first-time home buyers are able to secure mortgages.




FHA Chief Risk Officer Keith Becker says approximately 40,000 to 50,000 loans per year would likely be affected – about 4 percent to 5 percent of the FHA-insured mortgages originated annually in recent years.




"We have continued to endorse loans with more and more credit risk," Becker says. "We felt that it was appropriate to take some steps to mitigate the risks we're seeing."




Source: Wall Street Journal (03/26/19) P. A2; Eisen, Ben

Mortgage rates post biggest drop in a decade

WASHINGTON (AP) – March 28, 2019 – Purchasing a home just became a lot cheaper, thanks mostly to the Federal Reserve's decision last week to put its interest rate hikes on hold for now.




Mortgage buyer Freddie Mac said Thursday that the average 30-year fixed rate mortgage plunged to 4.06 percent this week, down from 4.28 percent last week. That's the steepest weekly drop in a decade.




Last week, Fed chairman Jerome Powell said the U.S. economy faces several headwinds, including slowing global growth, a trade war with China, and fading impacts from last year's tax cuts. Fed policymakers signaled they were unlikely to raise rates this year, after projecting two hikes in December.




Lower mortgage rates, slowing home price increases and a pickup in the number of available homes appear to be rejuvenating home sales after a slowdown last year.




Sales of existing homes surged 11.8 percent in February, a sign that lower rates were encouraging more people to buy homes. The average 30-year rate reached 4.95 percent in November, following a series of rate hikes by the Fed.




Mortgage costs are more directly influenced by the yield on the 10-year Treasury note, which also rose last year as many investors shifted money into stocks. Stock market indexes rose at a healthy pace until last fall.




The yield on the 10-year note has fallen sharply since last year, when it touched 3.21 percent in November. On Thursday it fell to 2.39 percent in mid-day trading.




Potential buyers have rushed to take advantage of the cheaper borrowing costs. An index measuring applications for mortgage loans jumped 9 percent last week, the Mortgage Bankers Association said.




Fewer people signed contracts to buy homes in February compared with the previous month, suggesting home sales will cool off a bit after January's big jump. But economists expect sales will continue to improve this year after last year's slowdown.




Hiring has been steady in recent months and average pay growth has accelerated, making a home purchase more affordable.




"With mortgage demand strengthening in the wake of the decline in mortgage rates, we look for better sales in the second quarter," said Ian Shepherson, chief economist at Pantheon Macroeconomics.




Freddie Mac surveys lenders across the country between Monday and Wednesday each week to compile its mortgage rate figures.




The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates.




The average fee on 30-year fixed-rate mortgages ticked up this week to 0.5 point from 0.4 point.




The average 15-year mortgage rate also fell, to 3.57 percent from 3.71 percent. The fee was unchanged at 0.4 point.




The average rate for five-year adjustable-rate mortgages dropped less sharply, to 3.75 percent from 3.84 percent. The fee remained at 0.3 point.

Fla. Senate passes bill allowing home vegetable gardens

TALLAHASSEE, Fla. – In an issue stemming from a legal dispute in South Florida, the state Senate on Thursday overwhelmingly approved a bill that would prevent local governments from regulating homeowners' vegetable gardens.
Senators voted 35-5 to support the measure (SB 82), sponsored by Sen. Rob Bradley, R-Fleming Island.
Bradley took up the issue after a dispute between homeowners Hermine Ricketts and Laurence Carroll and the village of Miami Shores over an ordinance that banned front-yard vegetable gardens. The couple had maintained a front-yard garden for nearly two decades but uprooted their vegetables when faced with the possibility of fines. They challenged the constitutionality of the ordinance but lost in court, with the Florida Supreme Court last year declining to take up the issue.
On Thursday, Bradley described local-government efforts to prevent homeowners from growing vegetables and fruit as a "vast overreach." But Sen. Bobby Powell, a West Palm Beach Democrat who opposed the bill, suggested it was an overreach by the state to prevent local governments throughout Florida from having such regulations. Other opponents of the bill were Sen. Lori Berman, D-Lantana; Sen. Randolph Bracy, D-Orlando; Sen. Gary Farmer, D-Fort Lauderdale; and Sen. Perry Thurston, D-Fort Lauderdale.
A House version of the bill (HB 145), filed by Rep. Elizabeth Fetterhoff, R-DeLand, has been approved by one committee so far. Should it eventually pass, it will need Gov. DeSantis' signature to become law.
Source: News Service of Florida

Does dark paint really make a room look smaller?

Painting a room can be one of the most budget-friendly ways to makeover a space or prepare a home for sale, but some commonly held myths may prevent some homeowners from finding the truly perfect hue that enhances their space.
Realtor.com spoke with painting experts to address some of these common myths about painting a home. Some of those include:
  • Dark paint colors make a room look small
    It’s just the opposite in many cases, says Ashley Blackmore, a real estate professional with Berkshire Hathaway HomeServices Western Colorado Properties. “If you use a dark color for an accent wall, it can truly make the home look much larger by adding variation to the eye,” Blackmore says.
  • Primers aren’t necessary
    Many homeowners believe they can skip the primer step, but it’s a crucial one to ensure the paint goes on correctly, experts say. “In order for your project to look like it was done professionally, you absolutely need to use primer,” says Kayla Martin, owner of Acme Home Interiors. “It helps make the paint job look smooth and allows the paint to adhere to the wall.”
  • You always need two coats of paint
    Don’t assume this one is always true – many times you may not. “If you apply primer and are using a quality brand of paint, you can absolutely get away with one coat of paint,” Martin says. However, it depends. Blackmore says in some cases she has seen rooms need six coats of paint, particularly where the walls weren’t properly prepped for painting or where there was a previously darker color painted.
  • Trim must always be white
    White trim is the most common color, but it doesn’t always have to be, says Morgan McBride of Charleston Crafted. She says that extending wall color to the trim for both the top and bottom can make walls appear taller. It can also emphasize details in the room’s moldings.
  • © Copyright 2019 INFORMATION INC., Bethesda, MD (301) 215-4688

$290,900 vs. $300,000: Which is better for pricing a listing?

ORLANDO, Fla. – March 15, 2019 – Price a can of beans too low and it hurts profits. But price it too high and the drop in sales will offset any additional profit per can. As a result, proper pricing is both science and art in the retail world.




In real estate, however, it’s not always so simple. However, online searches have changed some of those dynamics. Buyers now have price options when they do a listing search, and those often end on even numbers, such as $300,000-$350,000. In these cases, a listing agent pricing a client’s home using the drop-down method might advertise at $299,000. But a homebuyer using the noted range would then never see it.




As a result, homes with a recommended listing price close to natural break numbers offered in online searches can expand the number of people who will see the listing by using an even number. If that $299,000 listing is advertised at $300,000, the people looking for homes in the $250,000-$300,000 range will also receive it in their results.




Robert McTague suggests four ways psychology can influence price in a recent Inman article:




1. The nine-at-the-end price




Beyond the online search reason to use round numbers, what should be done for a home recommended at $310,000? List it at $309,900?




A nine at the end seems to make sense psychologically when trying to attract buyers. A 99¢ can of beans is somehow cheaper than its $1 competitor, for example. In home sales, agents may think it makes a home sound more affordable.




McTague writes that smart people aren’t fooled by this, however, and “You should position your client’s home as luxury brands do, not as discounters.” In the retail world, rounding down by a few cents suggests bargain shopping. Using an even number – a tactic used by Godiva Chocolates and Ferrari – suggests a luxury, top-notch item.




2. Odd prices seem more legit




McTague called the “power of four and seven … evident.”




Translated into real estate, a buyer who sees a home listed for $354,000 or $357,000 is more likely to assume that some thought went into that listing price. “Why the extra $4,000?” they might wonder. “Why didn’t they at least round up to $355,000?”




A precise price such as those ending in four or seven, McTague says, suggests to the buyer that a full analysis went into the pricing and that the asking price is exactly what the seller thinks his home is worth. The buyer may also think there is less room for negotiation.




3. Nix the commas and decimals




A study found that the way people read numbers affects how they feel about those numbers – and the less thinking they must do, the lower they think the price is. Here are three ways to write the same number, with the final one sounding more affordable to some buyers:




  • $350,000.00
  • $350,000
  • $350000




Good pricing is not always good grammar.




4. Add the commas and decimals




This is the flipside of No. 3, McTague says. If lowering a home’s asking price, add in the commas and decimal points to make it seem like more of a change, as in “Price lowered $5,000.00 – now listed at $354000.”




Source: Inman News, Robert McTague




© 2019 Florida Realtors®

FEMA flood insurance plan might upend premiums

The Federal Emergency Management Agency (FEMA) is working on a plan to update and extend the National Flood Insurance Program (NFIP), which Congress may or may not go along with as it considers new flood insurance policy. The proposal could change the way NFIP calculates the rates for homeowners, possibly saving money for some people but raising the cost significantly for others – notably those in flood areas or facing other risk factors.




Rather than levy premiums based on the dollar amount of insurance a homeowner wants, NFIP might operate more like property insurance, weighing a roster of risk variables and personalizing premiums.




Currently, flood insurance rates are generally based on the amount of coverage a homeowner wants and the risk of flood faced – largely whether the home is inside or outside a FEMA-designated flood zone.




Florida – home to about 35 percent of all NFIP policies – could see a major impact from proposed changes if they become official, though plan details have not yet been announced, and it's unclear how any specific homeowner might be affected. However, it's likely that homeowners in flood zones would see an increase in their flood insurance costs.




When asked by Bloomberg to comment on proposed changes, FEMA offered a statement by David Maurstad, deputy associate administrator for insurance and mitigation. He said the new system "will help customers better understand their flood risk and provide them with more accurate rates based on their unique risk." According to the theory, homeowners who understand their flood risk will be more willing to buy coverage.




Bloomberg says FEMA's document offers an example of two homes in a 100-year flood plain. One may sit near the edge and be threatened by only one type of flood event. FEMA says this home might see its costs drop by 57 percent. A second home in the middle of a flood plain facing multiple types of flood threats, though, could see its flood insurance costs more than double.




However, a FEMA spokesperson also said that some of the information given to Bloomberg is no longer accurate – but didn't say which parts.




FEMA calls its new flood-pricing proposal Risk Rating 2.0 and says it's being released at a time when climate change is influencing the national program, which is already in deep debt.




Congress is simultaneously working on its own flood insurance update, and committees meeting this week will discuss it. It's unclear how much FEMA's plan could influence Congressional actions. However, FEMA says it has the authority to update NFIP on its own even if Congress fails to pass a comprehensive plan.




Lawmakers looking at algae and water quality

TALLAHASSEE, Fla. – March 13, 2019 – A pair of environmental bills aimed at boosting water quality regulations began moving in the Florida Legislature with bipartisan support Tuesday as lawmakers work to address the algae problems that have plagued the state.




One bill would result in fines for municipalities after sewage spills, while the other would increase regulations on the spreading of biosolids, or human waste left over from the municipal sewage treatment process.




The nutrients found in human waste can feed algae blooms such as toxic red tide, brown tide and blue-green algae.




All three types of algae impacted Florida in 2018, killing fish, fouling waterways and hurting local economies.




Gov. Ron DeSantis has made water quality a top priority, and lawmakers from some of the affected regions have filed a slew of environmental regulation and funding bills.




Environmental advocates said the two measures dealing with municipal sewage are the first major algae-related water quality regulation bills to gain traction in the 2019 legislative session, which began last week.




The sewage spill measure sponsored by Sen. Joe Gruters, R-Sarasota, and Rep. Randy Fine, R-Palm Bay, would fine municipalities $1 for every gallon spilled. To avoid paying the fine a utility provider could also "spend $2 for each gallon (spilled) to upgrade or remediate the problems that gave rise to the unlawful discharge," according to the legislation.




The bill also includes a public notice requirement that would put pressure on municipalities by forcing them to send a letter to homeowners when there is a spill nearby. Fine said the idea is to get homeowners incensed enough to demand local officials take action.




The biosolid and sewage spill bills cleared their first committees in both the House and Senate Tuesday with broad support and the backing of environmental groups, a rarity in the GOP-controlled Legislature.




Gruters and Fine both come from regions impacted by severe algae problems. Red tide plagued Sarasota and communities through Southwest Florida last year, while Fine lives in Brevard County, which has experienced a series of brown tide algae blooms.




Fine noted that Brevard had a massive sewage spill after Hurricane Irma in 2017. The hurricane overwhelmed sewage systems across the state and led to sewage discharges in 39 counties, including Sarasota and Manatee. Irma caused about 30 million gallons of sewage to be dumped into the Indian River Lagoon, according to Florida Today.




The sewage may have contributed to a brown tide bloom in the lagoon that persisted for months after Irma, with dead fish and human feces floating in the waterbody. Brown tide has been a problem in the region for years. Some have blamed the algae outbreaks on septic tanks, which Fine tried to regulate two years ago without success. Gruters and state Rep. Will Robinson, R-Bradenton, are pushing a similar septic tank inspection bill this year in response to the red tide algae bloom.




Fine said after encountering resistance to new septic rules from homeowners who said local government should clean up their sewage problems first, he decided to switch gears and focus on municipal sewage spills.




At the same time Brevard was experiencing a big sewage spill last year, Fine said the county approved spending millions on parks and other programs, including a kayak launch near a location where sewage was spilling.




"For too long we've had a problem where parks are more fun to talk about than pipes," Fine said.




Local governments are not doing enough to update their wastewater systems, he added. He believes part of the reason is that the penalties are not severe enough.




No municipal leaders spoke during the environmental committee meetings in the House and Senate Tuesday, but some city leaders have concerns about the bill.




"I think it all sounds good and it's all well intended, but I think we have to look at a more effective strategy," Sarasota City Manager Tom Barwin said recently in arguing that local governments need more financial assistance from the state and federal government to improve wastewater infrastructure. The city of Sarasota had a sewage spill in December that released 900,000 gallons of wastewater, with some of it flowing into Sarasota Bay.




Aging infrastructure is a major problem that can lead to broken pipes, but spills also can be triggered by storm events, human error and a host of other causes. Barwin said Sarasota's spill was a freak accident brought on by heavy rains. He has argued that penalizing municipalities would place a great strain on local governments and their taxpayers.




Fine said he had little sympathy for cities and counties complaining about the cost of fixing infrastructure. He argued that local governments need to prioritize their spending.




Some lawmakers wondered about the cost of the legislation during the House Agriculture and Natural Resources Subcommittee hearing Tuesday. "How do we prevent them from passing that charge on to their customers?" asked Rep. Mike Hill, R-Pensacola.




Fine said local officials ultimately are accountable to voters. Environmental groups largely praised the bill, including Florida Conservation Voters and the Sierra Club. But Sierra Club lobbyist David Cullen told a Senate Environmental & Natural Resources Committee that there has been "considerable resistance" in the Legislature to helping local governments with infrastructure improvements.




"We are looking forward to working with the sponsor to make sure that any fines are devoted to addressing the problem, perhaps on a statewide basis," Cullen said. "We don't want to assume that everything is due to incompetence."




The debate on biosolids – also known as sewage sludge – stretches back decades but flared up again in many communities during the recent spate of algae blooms.




The Florida Department of Environmental Protection developed rules for the use of biosolids – which are used on farms as a fertilizer or disposed of by burning or dumping in landfills – in 1990 and then updated them in 1998 and 2010, according to the House staff analysis of the biosolid bill. The 2010 revision was partly aimed at improving "nutrient management." It incorporated "nutrient management plans" into biosolid permits issued for agricultural sites.




But some communities have continued to express concerns that the biosolids rules were not strong enough to prevent water quality problems. Last year DEP created a biosolid technical advisory committee that met four times to discuss the problem.




Sen. Debbie Mayfield, R-Melbourne, said the biosolid bill she sponsored (SB 1278) is the result of that committee's work.




"This is addressing right now what we think is an inferior permitting process," said Lisa Rinaman, who advocates for water quality issues in the Northeast Florida area around the St. John's River.




Mayfield said that as communities in the southern reaches of the St. Johns worked to restrict the land application of biosolids within their boundaries, the problem was pushed to the north and continued to impact the river.




The regional planning councils that help coordinate land-use management in two other areas impacted by recent algae blooms – Southwest Florida and the Treasure Coast – also have expressed concerns about biosolids. Both passed resolutions last year during the height of the algae blooms calling for the eventual elimination of biosolid application in those regions.




The biosolid bill instructs DEP to begin rulemaking later this year to tighten the rules on biosolids. It directs DEP to adopt rules that "permit the use of biosolids in a manner that minimizes migration of nutrients and that prevents impairment of surface water and groundwater quality."




A range of environmental groups expressed support for the bill.




"We do believe this is a step in the right direction," Rinaman said.


© 2019 Sarasota Herald-Tribune, Fla., Zac Anderson. Distributed by Tribune Content Agency, LLC.  

Fla. lawmakers seek permanent nationwide switch to daylight saving time

WASHINGTON – March 7, 2019 – The push to make daylight saving time permanent in Florida is going national.
Sens. Marco Rubio and Rick Scott and Rep. Vern Buchanan introduced the Sunshine Protection Act in Congress that would make daylight saving time permanent across the country.
Rubio also introduced a similar bill last year after the Florida Legislature passed a state law that calls for Florida to move to permanent daylight saving time, but that bill stalled. Florida's law ending daylight saving time can't go into effect unless the federal law is changed as well.
Florida is not the only state to call for an end to daylight saving time. California voters passed a referendum calling on their Legislature to end daylight saving time with nearly 60 percent of the vote.
Rubio re-filed his bill this year, saying Wednesday he was "reflecting the will of the state of Florida," and Scott, the former governor and newly elected senator, joined as a co-sponsor.
Buchanan, who represents Florida's 16th Congressional District in Manatee County, is sponsoring the bill in the Florida House of Representatives.
"Last year, Florida lawmakers were the first in the nation to vote to make daylight saving time permanent in our home state," Buchanan said in a press release. "We should follow their lead at the national level to allow them to move forward with this change and ensure that Florida and the rest of the nation are on the same page year-round."
The bill would essentially end the twice-a-year time change and stay on the time observed from March to November. It would apply nationwide except in states and territories that don't observe daylight saving time, such as Hawaii and Puerto Rico.
Daylight saving time for 2019 begins at 2 a.m. Sunday and will end Nov. 3.
The United States began observing daylight saving at the end of World War I in an effort to conserve fuel. During World War II, the U.S. observed year-round daylight saving time from 1942 to 1945.
In 1974, the country tried to save fuel during the energy crisis by observing daylight saving time for 16 months, but the experiment was ended after less than a year when people became upset about children having to go to school in the dark.
The Florida PTA asked then-Gov. Scott to veto Florida's bill last year when it passed the Legislature on the grounds that the change would put students at risk when they had to travel to school in the dark in winter months.
Scott signed the bill into law over those objections, and in a press release issued Wednesday said he was joining Rubio's effort to pass the bill nationwide.
"I was glad to sign legislation as governor to continue daylight saving time year-round for Floridians, and now join Senator Rubio to lead this effort in Congress," Scott said. "The Sunshine Protection Act will allow Floridians and visitors to enjoy our beautiful state even later in the day, and will benefit Florida's tourism industry, which just celebrated another record year."
Rubio's office released a summary of the bill that listed seven benefits of passing a year-round daylight saving time, from reducing car crashes to cutting down on energy usage.
"Studies have shown many benefits of a year-round daylight saving time, which is why Florida's Legislature overwhelmingly voted to make it permanent last year," Rubio said.
It's not clear if Congress will have any appetite for taking up the bill as it is consumed with issues surrounding President Donald Trump.
When asked by the News Journal on Wednesday by text message if he had a position on the bill, Rep. Matt Gaetz, replied with a simple answer.
"I don't," he said.
Copyright © 2019 Journal Media Group, Pensacola News Journal, Stuart News, Jim Little

Tiny houses could pop up in Indian River County

Tiny houses could pop up in Indian River County









 




INDIAN RIVER COUNTY, Fla. – March 6, 2019 – If you watch much HGTV, you know about tiny houses. The craze could catch on here if local municipalities give the green light.




A bill introduced into the Legislature by state Rep. Anna Eskamani, D-Orlando, would define "tiny homes" in state law and require the state Building Commission to draft building codes for the houses, which often are smaller than 400 square feet.




The bill would address permanent tiny homes only, not ones on wheels that can be towed. The proposed law would require tiny homes be connected to utilities.




Unincorporated Indian River County, has no minimum size for homes, Community Development Director Stan Boling said. The county did away with its minimum house size in the 1980s.




But it does require living structures to contain at least kitchen, bathroom and a living area.




"From a county zoning standard, you can go as low as the Florida Building Code will allow," said Boling. "My take on it is you could do a 400-500-square-foot house in most unincorporated areas of the county."




Minimum house sizes were fairly common 30 years ago, Boling said.




The county Building Department does allow accessory dwelling units, such as mother-in-law cottages and guest houses, as long as they meet code. Some subdivisions have their own size requirements.




Fellsmere has had about a half-dozen tiny-house requests in recent years but allowing them would require a change to the city's code, Community Development Director Mark Mathes said. Currently, minimum size is 1,000 square feet, and the building must have a one-car garage.




The Fellsmere City Council agreed Feb. 21 there were several changes to the city code that could be considered, including one that would permit smaller homes. But City Manager Jason Nunemaker said while he favors creating affordable housing in Fellsmere, he didn't think that would extend to micro-size dwellings of 150 square feet.




"The way our code is written, the minimum square footage is 1000 square feet, and that's fairly large," said Nunemaker. "But it would be nice to offer something else that adds some affordability."




Most zoning in Sebastian has minimum home sizes, with 1,200 square feet, plus at least a one-car garage, the smallest.




Dorri Bosworth, Sebastian Community Development Manager/Planner, said she has had a few calls from developers and Realtors regarding tiny-home projects and has suggested they consider creating a planned unit development, which has no minimum size.




"In order to avoid having a list of variances needed to get around minimum lot sizes, living areas, setbacks, etc., we have suggested rezoning to a PUD where those items can be negotiated," said Bosworth. "Sebastian Community Development would be very supportive of a 'tiny home' village or subdivision."




However, none of the inquiries has turned into a formal application, Bosworth said.




With the tiny-house industry looking to take off in Florida, legislators such as Eskamani think miniature dwellings could be attractive to millennials and seniors wanting to own their own homes without significant costs.




If Eskamani's bill becomes law, it could go into effect as soon as July 1.




Copyright © 2019 Journal Media Group, Indian River Press Journal, Janet Begley

‘It’s pure hell’: Hurricane Michael leaves housing crisis

‘It’s pure hell’: Hurricane Michael leaves housing crisis









 




PANAMA CITY, Fla. (AP) – March 5, 2019 – A small village of the forgotten has popped up in Diahnn "Shelly" Summers' backyard outside Panama City. Where there once was empty grass abutting almost 5 acres of woods, 10 tents now encircle a fir tree with Christmas lights.




The tents shelter those still homeless more than four months after Hurricane Michael screamed ashore with 155-mph winds, flattening, blowing away or rendering uninhabitable thousands of houses.




"There is nowhere for them to go," Summers said. "When you don't have a home, you have no sense of safety, no sense of belonging, no security. You don't even know where you're going to sleep without getting into trouble. It's the worst feeling."




Of all the Florida Panhandle areas affected by Michael, Bay County was hardest hit: Officials said almost three-quarters of its 68,000 households were affected. Former Florida House Speaker Allan Bense, who is leading a hurricane recovery initiative, estimated about 20,000 people were homeless in the weeks after the October storm.




Some have been able to make their homes livable again with cosmetic repairs. Others left town: The county's student population is down 14 percent. And 7,800 residents are still considered homeless, county officials said.




Many unable to move in with relatives or find a coveted hotel room with the help of federal vouchers have turned to living in tents.




Several obstacles prevent their return to normalcy. Trailers from the Federal Emergency Management Agency have been slow to arrive, and it's hard to find an apartment where the rent hasn't been jacked up in a suddenly tight market. Almost three-quarters of the damaged properties were rental units, which are difficult to replace with temporary shelter, Bay County Manager Robert Majka said.




"If you have 100 units in an apartment complex, you can't put 100 FEMA trailers into that apartment complex and accommodate these folks," he said.




Sue Laurel Shaw was able to stay in her apartment after the storm and said her landlord even agreed to deduct the cost of repairs she made from the rent. But now she faces eviction for back rent after she says the landlord reneged on their agreement.




She is looking for another place to live, but "everything is tripling," said Shaw, who was fighting to stay in her Panama City apartment.




Mystie Gregory said she, her fiance and 2-year-old daughter left their apartment for several days to take a break from living without electricity. When they returned, she said, it had been rented to another family.




Gregory found refuge with more than a dozen others living in tents behind Summers' ranch-style house.




Gregory said she is trying to "make the most" of living in a tent, but "it makes you feel like a failure as a parent, even though it's out of your control."




Among the county's homeless are 4,700 students, said Bay District Schools Superintendent Bill Husfelt. Some schools lost more than 40 percent of their students and the school board is closing at least three schools for now.




"It's all about housing," Husfelt said. "Everything we're dealing with, it's about housing."




In December, U.S. Sen. Marco Rubio wrote a letter chastising FEMA for not finding enough sites for trailers or mobile homes. Rubio said families "have not seen an appropriate response to their housing needs and FEMA must immediately act to address this concern."




At the time, more than 1,200 Bay County families were waiting for trailers or mobile homes. By the end of February, that number had fallen to more than 200, partially because more than 500 families had found other options on their own, county officials said.




"The velocity of FEMA's temporary housing improved after the first of the year, although trailers ... never came in consistently at stated goals," said Joel Schubert, Bay County's assistant manager.




FEMA officials said the large numbers of renters and the enormous amount of debris that needed to be cleared before trailers could be installed slowed the process.




In addition, 26,000 Florida households received grants for home repairs, 21,000 residents received temporary rental assistance and 2,000 households were approved for hotel rooms or short-term condo rentals, FEMA spokesman Samuel "Carr" McKay said in a statement.




Even that help took a while to reach some residents. Dennis Myrick, who has no home insurance, said he lived in a tent in the front yard of his decimated Panama City home until mid-January, when he was finally able to get a FEMA hotel voucher.




"It's pure hell, man," Myrick said. "The wind blows, and you get wet. I had to hold the tent down with my hands. It was about to blow away."




Before she landed in Summers' backyard, Jacinta Wheeler, whose apartment was damaged by the hurricane, joined other residents in an encampment dubbed "Tent City" in a different part of town. Officials forced them to leave over safety and hygiene concerns. Lori and Gene Hogan had settled in a tent on the beach after Michael destroyed their home, but police officers threatened to arrest them if they didn't move, so they came here as well.




Wheeler has been working construction jobs and helping repair neighbors' properties while she stays in her tent.




"Everybody wants the American dream," the Trinidad native said. "If this is the dream, I don't want it."




Summers and her husband, Sam, want to build more permanent housing on the property for their guests but said they have run into regulatory roadblocks. In the meantime, they try to make them feel at home, inviting them to their dinner table and leaving the Christmas lights on the backyard tree to retain some cheer.




Summers said she has always welcomed people in need to her home.




"They need help and we were blessed enough that our house was untouched," she said. "We seem to be the outcasts by trying to help people and it shouldn't be that way. This should be a normal thing."




Copyright © 2019 The Associated Press, Mike Schneider. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

4 things buyers should check when visiting older homes

4 things buyers should check when visiting older homes









 




NEW YORK – March 1, 2019 – Older homes often come with plenty of character and possibly even a lower price – but buying a home that has been around for a while can also mean with age-related problems.




Potential problem hotspots in older homes




  • Electrical issues

    Older homes could have dated wiring and electrical panels that may not be able to keep up with today's needs, so be sure to check that that the house is up to code. Also, insulation on old wiring can pose a safety hazard, RISMedia's HouseCall warns. Have an electrician look over the home to be sure everything is in order.
  • Roofing

    In general, roofs often need to be replaced every 10 to 20 years. Learn the last time the roof was replaced and how it was done. Some homeowners may just add new shingles on top of the old roof, which is not viewed by housing experts as the best way to replace an entire roof. Also, check for loose shingles, leaks, and the type of materials used on the roof. "A composite shingle roof will cost less to replace than a clay tile or slate roof," RISMedia notes. "The pitch of the roof can also drive up costs – a roof that is particularly steep may be challenging to replace and repair."
  • Foundations

    Older homes could have foundations that are cracked, sunken, uneven or otherwise in need of repair. A structural engineer can closely inspect a foundation and alert buyers to potentially costly problems.
  • Lead paint

    Older homes may have lead paint, which can lead to serious health problems. It was banned in the U.S. in 1978, but homes built before then may still have it. In fact, about 87 percent of homes built before 1940 contain lead-based paint that needs to be professionally removed.




Source: "7 Considerations When Buying an Older Home," RISMedia's HouseCall (Jan. 28, 2019)

NAR: Pending home sales jump 4.6% in January

NAR: Pending home sales jump 4.6% in January

 
WASHINGTON – Feb. 27, 2019 – Pending home sales rebounded strongly in January, according to the National Association of Realtors® (NAR). All four major regions saw month-to-month growth last month, including the largest surge in the South, an area that includes Florida.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 4.6 percent to 103.2 in January, up from 98.7 in December. Year-over-year contract signings, however, declined 2.3 percent, making January the thirteenth straight month of annual decreases.
Lawrence Yun, NAR chief economist, says he expected an increase in January home sales because a "change in Federal Reserve policy and the reopening of the government were very beneficial to the market."
Of the four major regions, three areas experienced a decline in a year-to-year comparison, however. Only the Northeast enjoyed a slight growth spurt.
Yun says higher rates discouraged many would-be buyers in 2018. "Homebuyers are now returning and taking advantage of lower interest rates, while a boost in inventory is also providing more choices for consumers."
Additionally, Yun says the inventory of for-sale homes has risen, which bodes well for increased pending sales going forward, and positive pending home sales figures in January will likely continue.
"Income is rising faster than home prices in many areas and mortgage rates look to remain steady," he says." Furthermore, job creation will help lift home buying."
January pending home sales regional breakdown
In 2019, Yun forecasts existing-home sales will be around 5.28 million – down 1.1 percent from 2018 (5.34 million). The national median existing-home price this year is expected to increase around 2.2 percent. In 2018, existing sales declined 3.1 percent and prices rose 4.9 percent.
Pending sales in the Northeast rose 1.6 percent to 94.0 in January and are now 7.6 percent above a year ago. In the Midwest, the index rose 2.8 percent to 100.2 in January – 0.3 percent lower than January 2018.
Pending home sales in the South jumped 8.9 percent to an index of 119.8 in January, which is 3.1 percent lower than this time last year. The index in the West increased 0.3 percent in January to 87.3 and fell 10.1 percent below a year ago.
© 2019 Florida Realtors®