Millennials Locked Out of Hot Real Estate Markets
On Monday, NAR said that pending sales rose 7.5%, but it appears the buyer uptick includes fewer millennials as home prices rise beyond their reach.
Condo Q&A: Can an Owner’s POA Son Be on the Board?
Also: A non-gated community installed security cameras at entrances. Now board members monitor who comes and goes on their cellphones. Is that legal?
FHFA: 2022 Loan Limits 18.05% Higher – to $647K
The cap on conventional and FHA loans will rise notably higher next year, with caps in a handful of high-cost markets coming close to $1 million.
Report: Fla. a Top State for Tiny Homes
Want sun, sand and surf, and don’t mind a stove that’s two feet from your bed? Many people do, and Fla. ranked fourth for tiny homes, which cost about $50K.
Fla.’s Insurer-of-Last-Resort Sees Lawsuits Spike
From Jan. through Sept., Citizens Ins. received an average 878 new lawsuits each month – a 45% increase compared to the same timeframe in 2020.
U.S. Consumers Less Happy but More Optimistic
The Nov. Consumer Confidence Index fell from 111.6 to 109.5. “Expectations about short-term growth prospects ticked up, but job and income prospects ticked down.”
FHFA: Fla. Metro Price Increases Top National Average
U.S. home prices rose 18.5% year-to-year in 3Q, but the increases in eight Fla. metros ranged from 20.5% in Central Florida to 34.7% in Cape Coral-Fort Myers.
Assignment-of-Benefits Loophole Puts Owners at Risk
Fla. tightened AOB rules, yet a “Direction to Pay” still allows contractors to direct bill insurers, with homeowners now on the hook if insurance money falls short.
Floridians’ Consumer Confidence Dips Again in Nov.
The one-point decline to 70.8 isn’t big – but it’s the fourth month in a row for a decrease as rising prices and supply-chain frustrations take a toll.
Dear Joey: MLS Policies Change? How Does It Affect Me?
NAR updated MLS rules at its recent convention, and Realtors may discover changes within their MLS on or before the Jan. 1 effective date. One change applies to marketing, however: A buyer’s agent can’t advertise their services as “free.”