Case-Shiller: Home Prices Surge 18.4% in Oct.
The 20-city home price index climbed 18.4% in Oct. year-to-year – though the pace of that rise is down a bit from Sept.’s 19.1% year-over-year increase.
Fla.’s Nov. Sales: Single-Family Up, Prices Up
Florida Realtors: Condo sales dropped slightly year-to-year, single-family home sales and pending sales rose in Nov. Prices rose more than 19% for both.
Mortgage Rates End 2021 Slightly Higher: 3.11%
One week earlier, a 30-year, fixed-rate mortgage averaged 3.05%; a year ago, it averaged 2.67%. Most economists predict more slight rises in 2022.
NAR: Existing Home Sales Rose 1.9% in Nov.
It’s the third straight month for increased sales. However, prices jumped 13.9% higher year-to-year as the inventory of for-sale homes decreased 13.3%.
UCF: Housing Will Drive Economic Growth in 2022
Fla. job growth will outpace the nation, says UCF, and the housing industry – an “albatross” in the Great Recession – will “be an important economic driver.”
Buying/Selling Your Own Home? What to Disclose
The answer largely lies within the Code of Ethics, and while there are some specific requirements, the keyword for all transactions is “transparency.”
Using AS IS for New Construction? Don’t
Is it OK to use one of Florida Realtors’ residential contracts for a new-construction home? The short answer: No. The longer answer: Buyers likely lose important protections and it may lead to litigation.
Tips for Negotiating a Contract Amendment
Most parties can successfully negotiate a change to legal agreements if circumstances change, but here’s a chance to learn from other people’s mistakes – parties who failed to fully understand the contract they currently have.
Owning Property Together? Three Ways to Do It
Each type of co-ownership – tenants in common, joint tenant with right of survivorship and tenants by the entirety – has different rules, along with unique pros and cons.