Delayed Closings: The Most Common Reasons in Feb.
Most homes complete the sale on time, but of those that are delayed, almost 1 in 3 (29%) have a financing issue, and 1 in 4 (23%) confront an appraisal issue.
Fla. Courts Handle 3 out of 4 U.S. Property Insurance Lawsuits
Of U.S. lawsuits filed over property insurance payments in 2019, Fla. had 76%, according to a state report – but it only had 8% of all property insurance claims.
Cocktail Party Talking Points: Why Can’t I Find a House to Buy?
Florida Realtors economist: Cocktail parties – remember those? Once someone finds out you’re a Realtor, the conversation often turns to the current market. Here are suggested responses to a common question you’ll likely be asked at your next cocktail – or Zoom – party.
Legislature Passes, Gov. Signs Biz Rent Tax Reduction
A multifaceted bill will net Fla. $1B from internet sales and eventually lower the business rent tax from 5.5% to 2% – a major Florida Realtors legislative priority.
The Unexpected Challenge to Home Repair: Electrical Wiring
New home buyers and remodelers sometimes find an expensive problem as they start to dig in: Old and faulty wiring that needs fixed or even completely replaced.
Share of Mortgage Loans in Forbearance Down to 4.50%
Anxious buyers who hope some homes in forbearance would be soon listed for sale may be disappointed as more owners start making their mortgage payments again.
CFPB: Evicted Tenants Can Hold Debt Collectors Accountable
The bureau’s final rule says “debt collectors” must give written notice to tenants before an eviction, with prosecution and private lawsuits possible if they don’t.
Fla. No. 7 for “Least Affordable Housing,” Mainly Due to Income
Affordability is calculated using a state’s median home price and median income. In the last decade, Fla. home prices went up 99.3%, but income only increased 20.8%.
NAR Report: Marijuana and Real Estate: A Budding Issue
States with marijuana legalization laws have seen increased demand for warehouse space, and about half with pre-2016 legalization laws are seeing addendums added to leases that restrict on-site growing. One recent change: More properties are being bought rather than leased.
What Do I Say When I Reconnect with Old Leads?
Any version of “We haven’t talked in over six months, but …” can be awkward, but you can break the ice by asking the right questions and listening to their answers.