Coit Group Fine Homes

Mortgage rates stay low as home-buying season starts

Builders: 25% of new-home costs stem from regulations   WASHINGTON – March 28, 2016 – Citing an acute shortage of affordable rental housing and severe regulatory burdens that drive up the cost of single- and multifamily housing for homebuilders and consumers alike, the National Association of Home Builders (NAHB) called on Congress to pursue regulatory reforms that would improve affordability and promote new development. Testifying before the House Financial Services Subcommittee on Housing and Insurance, Granger MacDonald, a homebuilder from Kerrville, Texas, and first vice chairman of NAHB, told lawmakers that home building is one of the U.S.'s most heavily regulated industries. "Government regulations account for 25 percent of the cost of a new single-family home," said MacDonald. "The regulatory burden includes costs associated with permitting, land development, construction codes and other financial hindrances imposed on the construction process. Oft...

Fla. ‘business climate’ No. 4 in nation   WASHINGTON – Each year, the Tax Foundation releases its State Business Climate Index, a gauge of each U.S. state's friendliness to business, at least as far as taxes. In the latest report, Florida ranks No. 4, trailing only Wyoming, South Dakota and Alaska. The foundation says its index "enables business leaders, government policymakers, and taxpayers to gauge how their states' tax systems compare … the Index is designed to show how well states structure their tax systems, and provides a roadmap for improvement." Key findings The top 10 states, in order, are Wyoming, South Dakota, Alaska,  Florida , Nevada, Montana, New Hampshire, Indiana, Utah, and Texas. The bottom 10 states are Maryland, Ohio, Wisconsin, Connecticut, Rhode Island, Vermont, Minnesota, California, New York and, in last place, New Jersey. Illinois improved from 31st to 23rd due to the sunset of higher corporate and individual income taxes enac...

  Home improvement projects don't have to be large-scale to return a big value at the time of sale. In fact, the 2015 Cost vs. Value report points out that even something as simple and cheap as replacing a steel door returns, on average, 101.8 percent nationally. If homeowners want to save more money and get a great return on a home improvement investment, some relatively easy do-it-yourself (DIY) projects pack the most punch. "Going DIY is the ultimate money-saving tool," says John Riha, editorial director of the Black & Decker Home Improvement Library. "You'll also get tons of satisfaction and enjoyment from creating a better home environment, and from learning home improvement skills that'll last a lifetime." Before deciding to try DIY, owners should keep some things to keep in mind. Some projects are worth the cost of hiring a contractor, including fixing electrical work, or big home exterior improvements, like replacing roofing and sid...

June 3, 2015 – A neighborhood's cell phone reception quality is very important to Americans looking to purchase a home. RootMetrics surveyed 2,000 U.S. adults and found that 76 percent ranked mobile service as important. By comparison, 60 percent identified good schools as important. U.S. adults in all age groups ranked mobile phone service higher than schools. Hospitals ranked as high as cell phone service when averaging all age groups, but healthcare was overwhelming favored by older adults. Overall, most Americans looking for homes care about the crime rate (96 percent); local taxes (90 percent); and amenities like shops, parks and restaurants (84 percent), according to RootMetrics. Source: Time (06/02/15) Poppick, Susie

NAR: Pending home sales at highest level since 2006

  Question : I've read recently that it's getting harder to find rentals. I'm thinking about buying a home after our lease expires. I already have seen all the advice online about cleaning up my credit and saving up for a downpayment. Do you have any other words of wisdom about finding a home? – Ross Answer : While I can't overstate the value of finding a good real estate agent to guide you in this process, there is no substitute for educating yourself. There's a ton of free information readily available online, but it's not necessarily all accurate. Before you start looking for a house, you should make a list of what is most important to you – both now and in five years. Consider how many children you might have while living in the home. Is it possible an aging parent could be moving in with you? Look at neighborhoods before you identify specific homes. Most people seem to limit themselves to the area in which they currently live. I recently had client...