Fla.-Owned Insurer: Losses and Policies Keep Growing
Citizens Property Insurance expects to exceed more than 1M policies sometime in 2022 – and private insurers will rack up more than 1B in losses by the end of this year.
Prefab Construction? Don’t Call It a Mobile Home
The industry has been fighting mobile-home thinking. With pre-fab, the entire home is built onsite after 50%-80% of individual elements are constructed offsite.
SEC Brings First Crowdfunding Fraud Case
Crowdfunding continues to grow as a way to invest in real estate, but the SEC alleges that some investors pocketed money intended for cannabis real estate purchases.
Flood Insurance Alert: Need to Know Info on Oct. 1 Changes
NFIP’s Risk Rating 2.0 becomes effective on Oct. 1. Register for Florida Realtors webinar (Tue., Sept. 28) to learn the changes and best practices.
Florida Realtors Named One of Central Fla.’s Top Workplaces
Energage sends workplace culture surveys to companies on behalf of the Orlando Sentinel, and the state Realtor association was named one of the area’s best places to work.
Fla.’s Housing Market: Median Prices, New Listings Up in August
Florida Realtors’ data: More new listings and higher median prices – up 18% for single-family homes to $354,000; up 16.1% to $252,500 for condos – than a year ago. Single-family home sales rose just 0.2%, but condo sales were up 13.1%. Chief Economist O’Connor: Condo-townhouse market “remains the hotter market for now.”
NAR: August Existing Home Sales Drop 2.0%
The decline follows two months of increases. NAR’s chief economist says buyer demand remains strong, but higher prices have pushed many to wait for more inventory.
NAR Realtor Relief Fund Telethon Raises $350K
Realtors raised almost $350K in three hours in support of disaster victims. The virtual event, part of the “Hope Rising” campaign, celebrated RRF’s 20th anniversary.
New Flood Rates Debut Oct. 1 Unless Congress Acts
The Biden administration doesn’t plan to stop FEMA’s “Risk Rating 2.0” from going into effect, leaving Congressional leaders to decide. NAR backs the new structure that charges by individual home rather than flood zone, but it’s facing opposition from other real estate groups.
Foreign Buyers May Return in Nov. as U.S. Eases Restrictions
Travelers must be fully vaccinated and have a recent negative COVID-19 test if flying to the U.S., but the change could allow more buyers to physically tour homes.