Quote:
Originally Posted by Kzeus
We are moving to The Villages in about a month and have been mulling this question:
How can someone sell a home older than 20 years, if insurance companies refuse to insure at all, or charge exhorbitant fees? And, conversely, why would anyone buy an older home?
We welcome all *kind* responses. Thank you.
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Out of the 50 states, Florida ranked number 1 on cancelled real estate contracts. There were over 50 thousand “Pendings” cancelled last month alone! In fact, 56 thousand sales were cancelled in June or almost 15%. Our area is getting clobbered the most. Orlando and Tampa numbers are dismal. Miami is following close behind though.
Bottom line, the jitters could be caused by insurance, HOAs, interest rates and a conversion into the Buyers market. Many are sitting on the fence for the Feds September meeting.
Florida Housing Market Faces 'Nightmare Scenarios' as Deals Collapse - Newsweek