Net general revenue in Feb. totaled nearly $3.538B, up $217.M, or 6% higher than projected. Analysts said the sales-tax portion could be misleading. TALLAHASSEE, Fla. – State general-revenue tax collections were more than 6% higher than anticipated in February, though economists cautioned that part of that result could be deceptive. The Legislature’s Office of Economic & Demographic Research released a report that showed net general revenue in February totaled nearly $3.538 billion, which was $217.6 million more than projected in a forecast released in January. Sales-tax collections, which are the biggest part of general revenue, came in at almost $2.844
Read More

By Adriana Morga Guard against identity theft during tax season. Use password manager to safeguard passwords, don’t pick up unknown calls and verify information in ways you trust. NEW YORK – Tax season can come with several headaches, from gathering documents to finding the time to sit down and file. But one pain that you want to avoid is falling for a tax scam. Year-round, scammers look for ways to trick people into giving them money or personal information. There are several common types of scams during tax season, so people should be on the lookout for red flags, said
Read More

Turnkey properties, popular among real estate investors, allow for passive income streams but often may come with hidden costs. NEW YORK – If you’re in the market for an investment property, there’s a good chance you’ve heard about turnkey real estate. A turnkey property can seem like a surefire way to see a quick return on your investment. But, as anyone who has dabbled in real estate before surely knows, if something sounds too good to be true, it probably is. Whether you’re toying with the idea of buying a turnkey property or have just heard about it, it’s good
Read More

By Amy Connolly State leaders said funding for hurricane-damaged homes, new workforce housing and infrastructure repairs and upgrades can help dozens of Florida counties. TALLAHASSEE – FloridaCommerce announced more than $910 million in funding is available for Hurricane-Ian impacted Floridians with a priority on severely impacted communities and vulnerable low-income residents. The funds, available through four Rebuild Florida programs, are aimed at creating safe and sanitary homes, creating new affordable workforce housing and shoring up infrastructure programs following the 2022 hurricane. Eligible counties include Brevard, Charlotte, Collier, DeSoto, Flagler, Glades, Hardee, Hendry, Highlands, Hillsborough, Lake, Manatee, Monroe, Okeechobee, Osceola, Pinellas,
Read More

By Amy Connolly Homebuyers are increasingly looking to build smaller, more affordable homes. The average size of a new-build home in 2023 fell to the smallest size since 2010. WASHINGTON – A growing number of buyers building new homes want smaller structures with affordable designs. A National Association of Home Builders (NAHB) analysis found that new homes built in 2023 reached their smallest median size in 13 years. More than a third (38%) of builders say they built smaller homes in 2023, and more than a quarter (26%) plan to construct even smaller this year, according to NAHB. According to
Read More

By Amy Connolly Older Americans who own their homes are staying there largely because it’s cheaper than other options. The trend is contributing to the housing shortage. SEATTLE — More than three-quarters (78%) of older homeowners plan to stay in their current homes as they age mainly because there’s not much financial incentive to sell and move, according to new research by the real estate brokerage firm Redfin. Most (54%) of baby boomers who own homes have no mortgage. Those who do have mortgages have much lower interest rates than they would if they sold and bought a new home,
Read More

Consumer optimism among Florida residents dipped in February on views about personal finances and expectations over the national economy, UF economists said. GAINESVILLE, Fla. – Following five consecutive monthly increases, consumer sentiment among Floridians dipped 2.1 points in March to 72, down from a revised figure of 74.1 in February. This decline contrasts with the national consumer sentiment, which increased 2.5 points. “The drop in consumer sentiment was largely driven by Floridians’ views on their personal financial situation a year from now, which plummeted sharply in March. Additionally, expectations about the country’s economy over the next year dropped as well.
Read More

By Jim Saunders Local and state government attorneys say the financial impact from the program changes have “crippling effects.” FEMA says the cost increases have been exaggerated. TALLAHASSEE, Fla. – A federal judge has rejected a request by Florida and other states for a preliminary injunction to block changes to the National Flood Insurance Program that have led to higher premiums for many property owners – though he ruled that a broader legal battle can continue. U.S. District Judge Darrel James Papillion, who is based in New Orleans, issued a 56-page ruling last week that pointed to potential problems if
Read More

By Harjit Earnest A down payment of 20% or more can help lock in better interest rates and lower monthly payments. Buying a home under your budget can help with costs overall. NEW YORK — Conventional wisdom says it’s best to make a 20% down payment when you buy your home. While this can help you in several ways, including locking in better interest rates and lowering your monthly payment, you should consider your individual financial situation and what’s best for you. Here are some tactics that may help you as you start your homebuying journey. Go under budget Home
Read More

A look at Zillow data shows many of the cities in Florida with the fastest-growing home prices are in the south and central areas of the state. MIAMI –The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties. The typical home value in the United States was $349,216 in February, 4.2% higher than the year before. Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to
Read More