NAR, Economists, See Bright Path for Commercial RE
Economists predicted commercial real estate’s future at NAR meeting. The office market still has a wild card, but they’re generally bullish about the overall industry.
FHFA May Create New Lending Rules for ‘Condotels’
If a development has a large number of short-term rentals – individually owned units or single-family homes rented out similar to a hotel’s operations (condotel) – what unique lending standards for home sales should apply? FHFA opened a comment period that runs through July 5.
In Mortgage Forbearance? Here’s What You Need to Know
After forbearance, owners can pick up where they left off, but the return process can be complicated. Both South and Central Fla. have a large number of these owners.
Big RE Question: Will Workers Return to Offices?
Future demand for both the residential and commercial markets is based, in part, on the number of workers who commute again – but their numbers remain low so far.
NAR Counters Proposal Limiting 1031-Exchanges to $500K
Under Pres. Biden’s proposal, 1031 like-kind exchanges only defer $500K from taxation. NAR says not to panic, though. There’s time before any decisions are made.
Owner Tests Appraisers, Finds Higher Value if White
After two appraisals, a Black owner removed ethnic art, asked a white male to act as her rep, and added $100K to her appraisal. “Comps” choices may have played a role.
The Real Estate Market Isn’t in a Bubble – It Just Isn’t
Rising home prices and recession memories have convinced some buyers that a bubble will pop and prices will drop. But it’s just too much demand and too little supply.
Fla. Crowdfunding Firm Pleads Guilty to Fraud
The newest type of real estate investing still carries risk: A Jacksonville crowdfunding firm owner pleaded guilty to mail fraud when some projects didn’t fully fund.
Buyers Want a Custom Home? It May Take 18 Months
There are pros and cons to buying a new vs. existing home, but it’s taking a longer time to complete a new one – about four months more than it did two years ago.
The Nation’s Realtor Members Become More Diverse
In 2001, 10% of Realtors were nonwhite; in 2020, that number rose to 24%, according to a study on career choice released by NAR. However, whites had the highest median number of transactions (7) compared to Blacks and Asians (2), Hispanics (3) and LGBTQ+ members (5).