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5 Jun, 2025
Jonathan Padron Home Loan

Florida’s Insurance Woes Ease as Home Equity Opportunities Surge

The last time I was in Florida I saw a bumper sticker that said, “I thought growing old would take longer.” This weekend I return to the Sunshine State (the MBAF’s Eastern Secondary is coming up), and I mention this because the state is the epicenter of HOA fee escalations, hurricane damage, and insurance woes. But wait! An analysis based on examination of the 45 insurers responsible for personal property insurance in Florida sees the state pulling out of its spiral after eight brutal years of losses. The personal property insurance industry reported an underwriting gain of $207 million in 2024, a big turnaround from the $174 million underwriting loss in 2023, due in large part to a legislative reform that made it somewhat more palatable to do business but an expensive one, as direct premiums reached $11 billion in 2024, more than double the $5 billion seen in 2020. (Today’s podcast can be found here and this week’s is sponsored by CreditXpert, the credit optimization platform that helps today’s top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums, and close more loans. Today’s has an interview with Rob Chrisman on how the mixed messages from the Trump administration about the future of the GSEs are impacting those in the mortgage industry.) Products, Software, and Services for Lenders The average American homeowner has access to a significant source of funds in their home’s equity, and March 2025 ICE Mortgage Monitor data shows that they are finally starting to tap into it. Retention and recapture remain a heavy focus for lenders as the market continues to shift, and with the right tools, home equity can provide an opportunity to develop stickier relationships with customers. But it goes beyond simply offering customers home equity products; it’s about providing them with a convenient equity application, valuation and lending process through powerful digital tools. Read the latest blog to learn how ICE is helping lenders unlock new opportunities in home equity lending.

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4 Jun, 2025
Jonathan Padron Home Selling

Open House Prep: 7 Must-Do Steps to Attract Florida Buyers

– Staging boosts sale price by up to 5% (NAR).
– 82% of buyers’ agents say staging makes it easier for buyers to visualize the property as their future home.
– Decluttering and depersonalizing creates a blank canvas, appealing to a wider range of tastes.
– Deep cleaning is crucial; perceived cleanliness directly impacts a buyer’s impression.
– Curb appeal is critical for first impressions; landscaping and exterior maintenance are key.
– Optimize lighting (natural and artificial) to showcase space and create a welcoming atmosphere.
– Florida’s climate necessitates addressing potential issues like mold/mildew and HVAC functionality.

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4 Jun, 2025
Jonathan Padron Home Loan

Florida Housing Market Shift: Record Listings, Price Forecasts & Rates.

As the world is watching the chicks learn to fly on the eagle cam, in the human world there are more “For Sale” signs. You know that problem we’ve had with inventory for years? Although all real estate is local, perhaps the inventory issue is over: U.S. home sellers are sitting on nearly $700 billion worth of listings, an all-time high. In addition, the U.S. housing market has nearly 500,000 more sellers than buyers, the most on record. You can guess the impact on home prices if it plays out. Keeping on with stats, the NAR Chief Economist Lawrence Yun said existing home sales will increase by 6% in 2025 and by 11% in 2026 during the “Residential Economic Issues & Trends Forum” at the NAR 2025 REALTORS® Legislative Meetings. Yun forecasted that new-home sales will rise by 10% in 2025 and by 5% in 2026, the median home price will climb by 3% in 2025 and by 4% in 2026 and that mortgage rates will average 6.4% in the second half of 2025 and 6.1% in 2026. “The housing market remains very difficult at the moment… Part of the delay in recovery is because the Federal Reserve has changed its outlook and appears to be on pause for a longer period.” (Today’s podcast can be found here and this week’s is sponsored by CreditXpert, the credit optimization platform that helps today’s top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums, and close more loans. Hear an interview with Partners Credit’s Tracey King on the evolving conversation around credit costs, what lenders should understand about FICO’s role, and how early credit data signals provide a valuable lens into future market activity.)

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3 Jun, 2025
Jonathan Padron Home Selling

Unlock Florida Dreams: How to Photograph Your Home to Sell Faster

Homes with professional-quality photographs sell 32% faster and for up to $11,000 more than homes with poor-quality images. Online real estate listings are viewed 95% of the time, with photos being the most viewed aspect. Drones are increasingly used for exterior shots, with listings showcasing aerial views selling 68% faster. Staging is crucial: staged homes can sell for up to 17% more than non-staged homes. Employing a real estate photographer costs on average between $100-$300 in Florida. 80% of buyers start their home search online; therefore, quality images serve as a critical first impression.

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3 Jun, 2025
Jonathan Padron Home Buying

Florida Mortgage Pros: Listen to Borrowers, Choose Conferences Wisely

My cat Myrtle never seemed to listen, but heard lots. LOs can hear the difference, when dealing with a borrower, between “What is your rate?” versus “Can you help me?” Hearing is important, listening even more so. “Rob, are you hearing that the industry is ‘conferenced out,’ especially at the national level? The MBA’s National Secondary was a few weeks ago, this week is the MBA’s Chairman’s event, next week and following weeks are more conferences at the state level. My employees want to attend, but is there really that much new? They aren’t cheap to travel to or register.” There are a lot of events, and each one has a slightly different flavor and different geographic scope. And price point. Ask the organizers and choose wisely. There are also workshops, which are more personal, and in today’s episode of Advisory Angle at 11AM PT, STRATMOR Group’s Garth Graham and Sue Woodard share key insights from their recent Consumer Direct Workshop in Chicago, highlighting how top lenders are responding to shifting consumer behavior and market challenges. Tune in for practical strategies and real-world examples to help optimize your direct-to-consumer approach and stay ahead of industry trends. (Today’s podcast can be found here and this week’s is sponsored by CreditXpert, the credit optimization platform that helps today’s top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums, and close more loans. Hear an interview with Cotality’s Molly Boesel on what’s driving the recent rise in single-family rents, why high-end rentals are outpacing lower-end growth, and how local events, new supply, and regional dynamics are shaping rent trends across U.S. cities.)

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3 Jun, 2025
Jonathan Padron Home Improvement

Mortgage Conferences, Rising Rents, and Listening Like a Loan Officer

My cat Myrtle never seemed to listen, but heard lots. LOs can hear the difference, when dealing with a borrower, between “What is your rate?” versus “Can you help me?” Hearing is important, listening even more so. “Rob, are you hearing that the industry is ‘conferenced out,’ especially at the national level? The MBA’s National Secondary was a few weeks ago, this week is the MBA’s Chairman’s event, next week and following weeks are more conferences at the state level. My employees want to attend, but is there really that much new? They aren’t cheap to travel to or register.” There are a lot of events, and each one has a slightly different flavor and different geographic scope. And price point. Ask the organizers and choose wisely. There are also workshops, which are more personal, and in today’s episode of Advisory Angle at 11AM PT, STRATMOR Group’s Garth Graham and Sue Woodard share key insights from their recent Consumer Direct Workshop in Chicago, highlighting how top lenders are responding to shifting consumer behavior and market challenges. Tune in for practical strategies and real-world examples to help optimize your direct-to-consumer approach and stay ahead of industry trends. (Today’s podcast can be found here and this week’s is sponsored by CreditXpert, the credit optimization platform that helps today’s top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums, and close more loans. Hear an interview with Cotality’s Molly Boesel on what’s driving the recent rise in single-family rents, why high-end rentals are outpacing lower-end growth, and how local events, new supply, and regional dynamics are shaping rent trends across U.S. cities.)

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3 Jun, 2025
Jonathan Padron Home Buying

Florida Real Estate: Listen to Borrowers, Not Just Hear Rates.

My cat Myrtle never seemed to listen, but heard lots. LOs can hear the difference, when dealing with a borrower, between “What is your rate?” versus “Can you help me?” Hearing is important, listening even more so. “Rob, are you hearing that the industry is ‘conferenced out,’ especially at the national level? The MBA’s National Secondary was a few weeks ago, this week is the MBA’s Chairman’s event, next week and following weeks are more conferences at the state level. My employees want to attend, but is there really that much new? They aren’t cheap to travel to or register.” There are a lot of events, and each one has a slightly different flavor and different geographic scope. And price point. Ask the organizers and choose wisely. There are also workshops, which are more personal, and in today’s episode of Advisory Angle at 11AM PT, STRATMOR Group’s Garth Graham and Sue Woodard share key insights from their recent Consumer Direct Workshop in Chicago, highlighting how top lenders are responding to shifting consumer behavior and market challenges. Tune in for practical strategies and real-world examples to help optimize your direct-to-consumer approach and stay ahead of industry trends. (Today’s podcast can be found here and this week’s is sponsored by CreditXpert, the credit optimization platform that helps today’s top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums, and close more loans. Hear an interview with Cotality’s Molly Boesel on what’s driving the recent rise in single-family rents, why high-end rentals are outpacing lower-end growth, and how local events, new supply, and regional dynamics are shaping rent trends across U.S. cities.)

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3 Jun, 2025
Jonathan Padron Home Selling

Florida Real Estate: Listen to Borrowers, Navigate Conferences, Rent Trends

My cat Myrtle never seemed to listen, but heard lots. LOs can hear the difference, when dealing with a borrower, between “What is your rate?” versus “Can you help me?” Hearing is important, listening even more so. “Rob, are you hearing that the industry is ‘conferenced out,’ especially at the national level? The MBA’s National Secondary was a few weeks ago, this week is the MBA’s Chairman’s event, next week and following weeks are more conferences at the state level. My employees want to attend, but is there really that much new? They aren’t cheap to travel to or register.” There are a lot of events, and each one has a slightly different flavor and different geographic scope. And price point. Ask the organizers and choose wisely. There are also workshops, which are more personal, and in today’s episode of Advisory Angle at 11AM PT, STRATMOR Group’s Garth Graham and Sue Woodard share key insights from their recent Consumer Direct Workshop in Chicago, highlighting how top lenders are responding to shifting consumer behavior and market challenges. Tune in for practical strategies and real-world examples to help optimize your direct-to-consumer approach and stay ahead of industry trends. (Today’s podcast can be found here and this week’s is sponsored by CreditXpert, the credit optimization platform that helps today’s top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums, and close more loans. Hear an interview with Cotality’s Molly Boesel on what’s driving the recent rise in single-family rents, why high-end rentals are outpacing lower-end growth, and how local events, new supply, and regional dynamics are shaping rent trends across U.S. cities.)

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2 Jun, 2025
Jonathan Padron Home Loan

Florida Mortgage Market: New Month Selling Overpowers Weak ISM Data

New Month Selling Trumps ISM Data

It’s not that this morning’s ISM data failed to help the bond market. In fact, it accounted for the highest volume of the day and the lowest yields of the day. But those yields were seized as an opportunity for seller to do what they’d already showed up to do earlier in the day. Bottom line, we had a bit of excess strength at the end of last week due to month-end trading and now a bit of a reversal as the new month gets underway. Yields are still nearer the lower end of the recent range, which makes today’s modest correction all the less threatening. 

Econ Data / Events

S&P Manufacturing PMI

52.0 vs 52.3 f’cast

ISM Manufacturing

48.5 vs 49.5 f’cast, 48.7 prev

ISM Employment

46.8 vs 46.5 prev

ISM Prices

69.4 vs 70.2 f’cast

Market Movement Recap

10:03 AM Slightly weaker overnight, but recovering a bit after ISM data.  MBS down 2 ticks (.06) and 10yr up 2.1bps at 4.425

01:20 PM More weakness into PM hours.  MBS down 9 ticks (.28) and 10yr up almost 6bps at 4.463

05:09 PM Modest recovery into the close.  MBS down 5 ticks (.16) and 10yr up 4.2bps at 4.446

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2 Jun, 2025
Jonathan Padron Home Selling

Florida Property Values: How Accurate Is Your Valuation Method?

Florida property values are assessed by County Property Appraisers, who use mass appraisal techniques. These techniques, while efficient, may not always reflect individual property nuances. Common valuation methods include:

* **Market Approach:** Compares a property to recent sales of similar properties.
* **Cost Approach:** Estimates the cost to rebuild the property, minus depreciation.
* **Income Approach:** Used primarily for income-producing properties, valuing based on net operating income.

Accuracy can vary significantly. Median sales prices in Florida increased dramatically in recent years (e.g., 20-30% in some counties during 2021-2022), leading to valuation adjustments. However, assessments may lag behind rapidly changing market conditions.

**Key Statistics/Data Points:**

* Appraisal accuracy is often measured by the Coefficient of Dispersion (COD); a lower COD indicates greater uniformity.
* Florida law provides homeowners the right to contest property valuations they believe are inaccurate.
* Homestead exemptions provide significant property tax relief to permanent Florida residents.
* Market values can be influenced by factors like location (waterfront, school districts), property condition, and economic conditions.
* Property assessments are used to calculate property taxes, a primary funding source for local governments.

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