Soaring Home Prices Roiling Appraisals, Upending Sales
In Aug., 13% of appraisals came in below a home’s contract price. It was higher in May (19.7%), but is still up compared to sales early last year (7.3% in Jan. 2020).
S. Fla. Condo Sales Unfazed by Surfside Condo Collapse
After the 12-story Surfside condo complex collapsed, experts wondered if condo demand would decline – but 3Q Miami-Dade condo sales were the highest in years, with luxury units selling at a record pace. Any stigma seems isolated to older inventory and buildings close to the Surfside tragedy.
Redfin Expands Program Allowing Buyers to Self-Tour Homes
Buyers are allowed to tour vacant homes without an agent. Redfin’s app unlocks the door, and an agreement with ADT provides monitoring and security.
Many Bathroom Remodels Are Really More of an Upgrade
Survey: Remodeling skyrocketed during lockdowns with many homeowners focused on their bathrooms. The desire to “soak in a bathtub” rose 6 percentage points.
HUD Says It Will Make Climate Change a Housing Priority
HUD says it will consider climate risk when underwriting loans (VA, Agriculture, etc.), promoting new energy-efficient housing and updating guidelines for grants.
$9 Can of Paint Threatens Buyer’s Dream of Homeownership
A woman’s credit score dropped 100 points after she opened a Home Depot charge to purchase a $9 can of paint. She made a TikTok video to warn other buyers.
Canada Visitors Must have Proof of Vaccination
It’s likely more Canadians will snowbird in Fla. this year, but they must be fully vaccinated to return home – or even to vacation in a different Canadian province.
New HUD Rule Aims to Prevent Public Housing Evictions
A proposed rule will ban evictions without giving tenants 30-days’ notice and providing info on federal emergency assistance available to them.
Student Loan Debt Plays Big Role in Racial Ownership Gap
Systemic racism is hard to define, but a study found that many educated Black and Hispanic buyers have trouble buying a home because they owe larger student loans.
Florida Realtors 2021 Member Profile: A Look Beyond Sales and Prices
Florida Realtors economist: NAR’s latest Florida Realtors Member Profile looks beyond 2020 home sales and prices, providing a closer look at the Realtors who made it happen. It provides details such as the state’s Realtor demographics, businesses and community commitment.