A combination of a lack of housing inventory, especially discounted and distressed, and a surge in demand for rental housing has caused more investors to turn to the build to rent strategy—that is, building a single-family home with the specific intent of renting it rather than sell it to an owner occupant.
Recent research from John Burns Real Estate Consulting indicates that approximately 10 percent of detached single-family households in the country (12.7 million out of 120 million) are renting. In fact, Burns said 25,000 single-family detached homes were built for rent last year—a number he expects to increase over the next few years. Read More
On Thursday, a federal jury in Tampa, Florida, decided that Glenn Jasen and wife Kathryn Jasen, of Spring Hill, Florida, were guilty of wire fraud, which is a federal felony.
Prosecutors alleged in the case that the Jasens "did detect a sinkhole" in 2009, filed a claim with their insurer and then "elected to receive a check in the amount of $153,000 but did not ever fix the sinkhole."
According to the US Attorney's Office, the Jasens deposited the insurance check into a bank account. They then failed to disclose the sinkhole in real estate documents and later sold the home to another family, according to the indictment. In court, US attorney Tom Palermo told the jury that "the defendants put lipstick on a pig and sold it to suckers." Read More
BOCA RATON, Fla. - Encouraging news was released Friday if you're trying to sell your home. CoreLogic, a property information and analytic company, announced foreclosure rates for July 2015.
The numbers show a significant decrease in the amount of foreclosures in the West Palm Beach/Delray Beach/Boca Raton market compared to July 2014. The foreclosure rate in July 2014 was 4.41%. In July 2015, it fell to 2.28%, according to CoreLogic. Read More