Want to get rich quick selling Florida real estate? Think again.
Since the start of the COVID-19 pandemic, droves of wannabe real estate investors have flocked to Florida chasing the promise of streets paved with gold. But rising interest rates, home prices and insurance costs have created hurdles for newcomers looking to get rich quick. [Source: Tampa Bay Times]
Own a second home in Florida? Property insurance changes could be on the way
Some Floridians with state-run Citizens Property Insurance could soon find their homeowners policies shuffled to an unregulated insurer. In a first for the state, lawmakers are poised to allow companies known as surplus lines insurers to take out policies from Citizens. More from the Miami Herald and the Tampa Bay Times.
Florida TaxWatch report: Average Florida rental rates fell slightly in past year
Residential rental rates might have leveled off in the Sunshine State after three years of wild increases, according to a recently released Florida TaxWatch report. Rental prices in Florida had skyrocketed in the wake of the COVID-19 outbreak, jumping from an average rental rate of $1,187 per month in December of 2020 to $1,545 in December 2023. [Source: Florida Politics]
This is the ‘most affordable’ ZIP code to buy property in Florida, study says
If you are in the market to buy a house but want to save some money, you may want to check out the results of a recent study that found the “most affordable” ZIP…
