Retirees Can Use a Reverse Mortgage to Buy a Home
An “HECM for Purchase Loan” allows adults age 62+ to buy with a larger-than-usual down payment, often with transferred equity, and skip future home payments.
Buyers’ Pressure Cooker Eases a Bit as Bidding Wars Drop
A survey of Redfin agents found a slow but steady drop in the percentage of listings engaged in a bidding war. In April, 74.1% of sellers entertained multiple bids; in May it dropped to 72.1%; and in June, it fell to 65%. But Sarasota tops the list of U.S. bidding-war cities at 87%.
Yes, Florida, People Are Listing Homes for Sale
Florida Realtors chief economist: More homes are being listed than you think. Despite record-low inventory levels, the reason for current buyer frustrations isn’t so much “not enough sellers listing homes,” as it is strong buyer demand – so strong that listings don’t stay active very long.
Citizens OKs Higher Rate Increases Due to New Law
The Fla.-owned insurer had its 10% cap raised under a law passed earlier this year, and its board of governors voted Wed. to increase a Feb. 2022 increase by 2.3%.
Four Ways to Drum Up More Inventory
Sometimes a homeowner who generally wants to sell can be offered a reason to do so now. Other times, it helps to contact people likely to sell, such as divorcing couples.
Fla. Leading the Way in Minority Homeownership
The homeownership rate for Black and Latino families lags white households, but Fla. ranks third nationwide for its efforts and a homeownership rate for both at 68.1%.
Demand for Vacation Homes Falls: First Time in a Year
It’s too soon to call it a trend, but the pandemic-driven push for vacation homes appears to be slowing as an increasing number of buyers search for year-round homes.
CoreLogic: Mortgage Delinquency Rate at Lowest Level in a Year
More homeowners have started paying their mortgage: Only 4.9% were behind in April 2021. Early-stage delinquencies dropped to 1%, but serious delinquencies rose to 3.3%.
Buyer Myth: Saying ‘I Do’ Doesn’t Marry Your Credit Scores
What happens to credit scores after you get married? They don’t merge, but joint purchases, such as a house, can help or harm one spouse. After a divorce? That’s tricky.
Words to Sell Houses Changed During Pandemic
Most listing descriptions once started with things like “granite countertops” and “wood floors” – but words like “large” and “spacious” became common this past year.