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).
Fla. Takes First Step to Launch Rental Assistance Program
DCF, the Fla. department charged with distributing $850M of federal funds to assist with rental assistance, introduced a dedicated website to get funds to landlords and utility companies. Applications should be available soon, and payments can be direct-deposited into business accounts.
Court Strikes Down CDC’s Eviction Ban
A U.S. District Court judge called the CDC’s eviction ban unlawful, effectively ending it. The DOJ already appealed the decision, but a stay has not yet been requested.
Florida Realtors Fights for Environment in Capital and Backyards
In July, Realtors across Fla. will clean the state’s beaches, rivers and waterways – a hands-on approach that complements legislative efforts to protect the environment.
Fla. Arrests Scammers Posing as Roofing Experts
If someone knocks and offers “a free home inspection to check for recent damage,” it may be a scam. Fla.’s CFO arrested two people using undercover fraud detectives.