Things To Do In SW Florida

Home sales in the Orlando area fell significantly in July as buyers faced the second-highest interest rates in the region in 20 years, a new housing report shows.

There were 2,852 sales in July, dropping by 8.7% from 3,124 in June, according to data from the Orlando Regional Realtor Association, which looks at sales from Orange, Osceola, Seminole and Lake counties. July’s sales were down 13.8% compared with last July.

July’s mortgage interest rate was 6.8%, up from 6.7% in June, and the second highest in Central Florida in 20 years, the association said in the report released last week. The rate hit 7% last October.

The median home price also fell for the first time this year, slipping slightly from $385,000 in June to $380,000 in July.

Winn-Dixie deal could put Aldi at No. 2 in metro Orlando grocery stores

Rising interest rates were called the biggest challenge for buyers by 43% of real estate agents surveyed by the association.

Another problem is there is a little more than two months of inventory on the market, when a healthy market would have six months, said Lisa Hill, Orlando Regional Realtor Association president. read more

LAKE BUENA VISTA — Employees at Gov. Ron DeSantis’ tourism oversight district urged leaders Wednesday not to strip them of their theme park passes and Disney discounts, calling the longtime program a treasured benefit that drew them to work there.

Those perks have emerged as the latest front in DeSantis’ battle with Disney. The governor’s hand-picked oversight board is calling the millions of dollars their predecessors spent on Disney perks for government employees working at and near Disney World “unethical” payments funneled to the entertainment giant.

But Lt. Pete Simon pleaded Wednesday for board members to rethink their decision to end the program, which was one of the deciding factors in his decision to work for the Reedy Creek Fire Department. That agency provides fire protection for Disney properties.

“The removal of this benefit takes away for some their entire reason for coming to work here,” Simon said at Wednesday’s board meeting.

Retirees continue to receive the passes, allowing them to take their grandchildren to Disney World, he said. read more

Erik J. Martin | Bankrate.com (TNS)

Here’s an alarming thought: a burglary occurs every 25.7 seconds, equating to around 3,300 per day, per FBI Crime Data. Those kinds of numbers are enough to give anyone pause, whether you own your own home or rent. Fortunately, Americans can turn to home security systems for better peace of mind against break-ins – with more products and options available today than ever before.

That begs the question: How much does a home security system cost? “On average, home security systems cost $700, not including installation costs if needed. However, the price can range anywhere from $280 to $1,150, depending on the security system you choose,” Mallory Micetich, a home expert with Angi, says. With installation, the price can mount to $2,000, according to Angi. Highly elaborate systems, with full-time professional monitoring, can run as high as $4,500, Fixr.com figures show.

This level of protection won’t break your bank, but some options are more expensive than others. And then there may be ongoing monitoring and maintenance fees, as well. read more

Do you have “chicken money” — money that you want to protect from risk? If so, it should be in short-term CDs, money market accounts or short-term Treasury bills — IOUs from the federal government. Those are the safe places to stash your cash.

When interest rates were quite low just a few years ago, savers were actually punished for having chicken money. Inflation was higher than safe money savings rates. But as of this writing, you can get 5.5% on a six-month Treasury bill.

How long will those high rates last? Should you lock up a portion of your chicken money in a 10-year Treasury note currently paying 4.25%? Short-term T-bills pay so much more. But the global bond market that sets the rates on Treasury securities is betting the Fed will get inflation under control — and that a rate of 4.25% is enough return to offset future inflation fears for the next decade.

Short-term rates are usually lower than long-term rates on the same-quality security. But occasionally, when the Fed is trying to slow inflation, it pushes short-term rates higher, as it is doing now. That typically results in a recession. Historically, in the Fed’s 110-year history, there have been 18 such tightening cycles — and 89% of them have ended in a recession, according to Investech.com research. read more