NAR: Florida Realtors Passes Calif. as Largest State Association
Realtor membership fluctuates year-to-year and even week-to-week, but NAR’s membership report on March 31 finds 5,118 more Realtors in Fla. than in No. 2 Calif.
Moving Trends Called ‘the Great Reshuffling’
Buyers are moving to smaller cities and more affordable states: renters are buying or moving out of the city. The demographic changes will impact more than real estate.
HUD Announces $5B to Help Homeless; Fla. to Get $254M
Of the Fla. cities and counties allocated funds for fighting homelessness, Miami-Dade County tops the list with $17.6M, followed by Broward with $14M.
Study: How Does Credit Scoring Impact Fair Lending?
A study released during an NAR virtual Fair Housing event finds new scoring models open doors and boost minority homeownership. Older credit-score models “raised the cost to borrow while limiting access … for minority populations and rural communities,” says NAR President Oppler.
Appeals Court Ruling Casts Doubt on ADA Compliant Websites
While brokers should still strive to make websites accessible for disabled users, an appeals court ruling suggests that until wording of the current law is changed, websites are not places of public accommodation. The issue remains fluid, but it may bring relief to brokers facing ADA website accessibility lawsuits.
Stay Top of Mind with Potential Clients – But Don’t Annoy Them
The best marketing tactic to pull in potential customers is not to seem as if you’re marketing to them at all. Start by making it sound like education.
Relocations from San Francisco to Fla. Up 46% in 2020
CBRE study: Miami metro area saw a 49.4% gain in San Francisco transplants from 1,190 moves in 2019 to 1,778 in 2020, in part due to the ability to work remotely.
Lawmakers OK Trust Funds Cut, Now On to Budget Reconciliation
The Legislature permanently cut affordable housing trust funds 50%, up from 33% initially proposed. Florida Realtors will advocate for more during budget reconciliation.
Mortgage Rates Dip – First Time Since January
The 30-year mortgage rate dropped to 3.13% this week from 3.18% last week; it was 3.33% a year ago. High prices and limited supplies continue to impact buyers.
Lenders Are Tightening Up on Mortgage Loans
MBA: Mortgage credit availability has hit its lowest level since 2014. In 4Q 2020, the median credit score for approved mortgages was 786.