State-Owned Citizens Ins. May Raise $700K Cap
The law bans Citizens from offering “replacement costs” of more than $700K ($1M in Miami-Dade), but regulators may raise that cap in at least some counties.
BofA Offers No-Down/No-Closing Cost Loan
First-time Black or Hispanic homebuyers in select U.S. neighborhoods, including Miami, can qualify for a no-down payment, no closing-cost mortgage loan.
Don’t Even Think About Using an Online Photo
Found a sunrise photo from your community that is so beautiful it makes “life in paradise” appear almost magical? It’s ideal for marketing? If so, don’t use it. Get up early and take your own sunrise photo. Copyright issues often create expensive headaches.
Careful What You Say About Competitors
An agent who never wants to work with a specific listing broker again gave a seller their honest assessment – and the broker filed an ethics complaint. How is it a violation to give a seller honest advice?
U.S. Housing Market at a Crossroads
Homes were overpriced in early 2022 – so is the current market a housing recession or just a market correction? Experts disagree and it’s too soon to know.
Mortgage Rates Rise 1/10 of a Point to 5.66%
Freddie Mac says the second notable increase in as many weeks comes “at a particularly vulnerable time for the market as sellers recalibrate their pricing.”
My Broker Can’t Reassign My Listing (Can They?)
For the most part, associate rights and obligations spring from the terms of the independent contractor agreement they have with their brokerage firm.
Judge Tosses Challenge to Part of Insurance Law
Contractors challenged an assignment of benefits (AOB) change passed in May by the Fla. Legislature, but the judge said people named aren’t “proper defendants.”
FSBOs Mostly Soar in Hot Markets. Not This Time
When demand outstrips supply, more sellers try to save money by going it alone – but FSBOs dropped to 7% in today’s unstable market, a level not seen since 1981.
‘Why Use a Realtor?’ Tell Clients This
NAR’s latest program expands their “That’s Who We R” campaign by empowering each member to explain the Realtor benefits to family, friends and customers.