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NFIP-February-2018

WASHINGTON – Feb. 9, 2018 – As part of the just-passed continuing resolution to keep the government open, the National Flood Insurance Program now won’t expire until March 23, 2018.

While the legislation only extends government operations for six weeks – including NFIP – Congress agreed to some long-term changes, including $90 billion in assistance for post-hurricane cleanup in Florida, Texas and Puerto Rico.

While the national flood insurance program isn’t a direct part of federal funding, its future has been tied to it recently because the flood insurance extension has been voted on alongside the larger spending packages.

For at least the next six weeks, however, homebuyers and sellers in flood zones can stop worrying about the loss of flood insurance derailing their transaction.

© 2018 Florida Realtors®

 

Homeownership: “The Reports of My Death Have Been Greatly Exaggerated”

The famous quote by Mark Twain in the title of this article can be used to describe homeownership in America today. Last week, the Census revealed that the percentage of homeowners in the country increased for the first time in thirteen years

Homeownership: "The Reports of My Death Have Been Greatly Exaggerated" | Keeping Current Matters

story in the Wall Street Journal gave these new homeownership numbers some context:

“The annual increase marks a crucial turning point because it comes after the federal government reined in bubble-era policies that encouraged banks to ease lending standards to boost homeownership. This time, what’s driving the market is a shift in favor of owning rather than renting.

‘This is market, market and market…There’s no government incentive program in sight that is having this effect,’ said Susan Wachter, a professor of real estate and finance at the Wharton School at the University of Pennsylvania, ‘This is back to basics.’”

In a separate report comparing the rental population in America to the homeowner population, RentCaféalso concluded that the gap is now shrinking.

“Undoubtedly, the recession had a great impact on homeownership…However, it looks like it takes more to discourage Americans from buying a house than that.

As the years go by, it seems more and more certain that the fact that renting has seen a sudden gain in popularity is more a reaction to the economic crisis than a paradigm shift in the Americans’ attitude toward housing.”

America’s belief in homeownership was also evidenced in a recent survey by Pew Research. They asked consumers “How important is homeownership to achieving the American Dream?”

The results:

  • 43% said homeownership was essential to the American Dream
  • 48% said homeownership was important to the American Dream
  • Only 9% said it was not important

Bottom Line

Homeownership has been, is and will always be a crucial element of the American Dream.

*Pictured Above – Mark Twain’s home in Hartford, Connecticut.
from Keeping Current Matters

St. Pete’s largest “Community Celebration of All Things Local” showcasing nearly 200 of your favorite independent businesses and community organizations

SATURDAY, FEBRUARY 3RD, 2018 | 10 AM – 5 PM    (RAIN DATE: FEBRUARY 24TH)
WILLIAMS PARK | 330 2ND AVE N, 33701
A LIMITED AMOUNT OF ON-STREET PARKING IS AVAILABLE THROUGHOUT DOWNTOWN.
WHEELCHAIR ACCESSIBLE PARKING GARAGES:
  • SUNDIAL ST. PETE GARAGE *ENTRANCE TO PARKING GARAGE IS AT 117 2ND STREET NORTH, 33701
  • NEW MUSEUM OF THE AMERICAN ARTS AND CRAFTS MOVEMENT GARAGE – 350 3RD STREET NORTH, 33701
  • FIRST UNITED METHODIST CHURCH | 212 3RD STREET NORTH, 33701 (ACROSS FROM WILLIAMS PARK) – THEIR PARKING LOT WILL BE AVAILABLE AT $10/CAR (CHURCH FUNDRAISER)

~~~~~~~~~~~~~~~~

Wine Weekend St. Pete
Enjoy some of the world’s most stellar wines during Wine Weekend St. Pete, benefitting the Museum of Fine Arts, St. Petersburg! The weekend will kick off on Friday in the museum with “Fetes a Versailles” for sponsors and VIPs. The masked balls of Louis XV will be brought back to life and a five-star dinner of French cuisine will be served. The International Wine Auction will follow on Saturday with an after party where you can enjoy fine wines, hors-d’oeuvres, and music. The weekend will conclude with “Le Champagne Brunch” on Sunday at 11 am. A wide variety of champagne, international culinary delights, and live music will be featured, toasting Wine Weekend 2018 and the Museum.

Annalisa Weller, Realtor®, Certified International Property Specialist

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