Real Estate News

News from Pasco County Property Appraisers Office

We Asked – You Answered – We Responded. Please notice the changes to the website.   The Florida homestead exemption bills (HB 7105 and SB 1774) propose increasing the maximum homestead exemption from $50,000 to $75,000. This means a $200,000 assessed house would be taxed as if it were worth $125,000 or a 100,000 as though it were worth $25,000 for…

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Mortgage Rates Inch Up and Hit 9-Month High: 3.09%

By Kerry Smith — Rates broke the 3% barrier two weeks ago and have increased each week since, leading Freddie Mac’s chief economist to call buyer competition “a challenging reality.” MCLEAN, Va. – The 30-year fixed-rate mortgage (FRM) averaged 3.09% this week, putting it past the psychologically noteworthy 3% mark for the second week in a row, according to Freddie…



What Sellers Shouldn’t Display in Their Home Office

Take a lot of the “you” out of your home office space, like college memorabilia and other personal items so buyers can see themselves using it. NEW YORK – The home office has become an important space to stage, but certain memorabilia could turn off some buyers who view the property in-person or online. “For more buyers to see themselves…


Mortgage Rates Unchanged This Week, Hold at 2.73%

By Kerry Smith Rates for 30-year, fixed-rate mortgages hovered near record lows again this week. Freddie Mac’s chief economist encouraged lower-income homeowners to refinance. MCLEAN, Va. – Freddie Mac’s Primary Mortgage Market Survey for this week finds that the average 30-year fixed-rate mortgage (FRM) was unchanged from last week’s average 2.73%. The rate hovered near record lows through January. “Mortgage…


2 in 3 Buyers Surprised by How Much House They Can Afford

By Kerry Smith Study: 47% of first-time buyers found that their budget allowed them to afford a larger house than they thought they could afford – but 21% had to lower expectations. SANTA CLARA, Calif.  – For first-time homebuyers looking to buy in 2021, a new survey conducted by HarrisX on behalf of realtor.com indicates a critical starting point for first-time buyers…


Survey: Homeowners Want More Kitchen Storage

The pandemic-inspired desire for a bigger and better home has boosted the number of kitchen remodels that emphasize a need for more storage space. NEW YORK – Kitchen storage is a top priority among renovating homeowners, according to the 2021 U.S. Houzz Kitchen Trends Study, based on a survey of more than 2,000 homeowners planning or in the midst of…


Why Aren’t Homeowners Selling? Lots of Good Reasons

In 2010, owners stayed for 8.7 years; in 2020, it was 13 years. Pandemic worries, fear of a competitive market and ultra-low loan rates convinced many to hunker down. NEW YORK – Housing market inventory remains tight as homeowners hold onto their homes longer. The typical homeowner in 2020 had remained in place for 13 years, up slightly from 12.8…