In 2020, Homes Made More Money than Jobs
The median worker earned about $50K, and the average home made about $52.6K last year, according to Zillow’s home value index.
Will Mistake Require A New Election?
Also: A condo made up mainly of older adults wants to make it official and become a 55-plus community. Is that allowed? And how do you do it?
Last Suspect Arrested in Miami-Dade RE Fraud Scheme
The last of three suspects in a S. Fla. rental scheme is in jail. The trio allegedly acted as a Realtor and homeowners to defraud hopeful tenants.
Fla. CFO Arrests 2 for Roofing Insurance Fraud
CFO Jimmy Patronis says the Naples contractors offered homeowners a “free roof” and said they could avoid paying deductibles if they signed “ad agreements.”
Fla. Home Median Prices Rise, Supply Tight in Feb.
Florida Realtors: Fla.’s single-family median price up 21.1% to about $381.5K. Condo median price up 24.3% to $290K. Sales down due to tight supply, rising rates.
NAR: Feb. Existing-Home Sales Drop 7.2%
Year-to-year, sales declined 2.4%. NAR’s chief economist calls it a “double whammy” for buyers who face rising mortgage rates and sustained price increases.
Tale of Two Buyers: First-Time Vs. Repeat
Florida Realtors economist: The new “Profile of Home Buyers and Sellers: Florida Report” finds that all buyers face challenges – but the bar is extremely high for the state’s first-timers.
75% of Online Searches Aren’t in English
Missed opportunities? Miami Realtors and most Realogy brands hired a vendor to help make their websites accessible in Spanish and up to 20 other languages.
New Biz Model: Airbnb-Style Office-Space Rental
Seeing increased demand for off-site, flexible office space, a partnership hopes to find success offering short-term rentals nationwide using an Airbnb-type system.
Feb. New-Housing Starts Surpass Expectations
A disappointing dip in Jan. new-home starts was followed by a surprise surge in Feb. Economists expected about 3.2% growth but starts rose by 6.8%.