Some Fla. Agents See a ‘Mass Migration’ from Calif.
Pandemic relocation numbers aren’t out yet, but agents across Fla. report a higher number of new clients are Californians looking for a less expensive lifestyle.
New-Home Costs Skyrocketing – and Not Just Due to Lumber
While lumber costs deserve a lot of the blame for the rising price of new homes, other things – crude oil (paint), drywall, ceramic tile – are also more expensive.
For Many Buyers, Luck and Superstition a Top Concern
Survey: 2 out of 5 (38%) buyers say they rejected a listing because it didn’t feel quite right – and 50% would blow their budget for one that felt lucky.
Legal Q&A: What Are Illegal Condo Board Activities?
Can a delinquent owner’s name be included in the minutes? Can a board ban recordings? Must board members’ names be recorded on how they voted?
Hot Housing Market Fuels a Rise in Homeowners’ Equity
Homeowners with a mortgage – 62% of all U.S. owners – made an average $26,300 last year as equity skyrocketed. It’s the highest one-year equity increase since 2013.
Fed Meets, Expects No Interest Rate Hikes Through 2023
Faced with a strengthening economy, some observers expected the Fed to tighten the timeframe for interest rate hikes, but it stuck to 2023 after a meeting this week.
Mortgage Rates Inch Up and Hit 9-Month High: 3.09%
Rates broke the 3% barrier two weeks ago and have increased each week since, leading Freddie Mac’s chief economist to call buyer competition “a challenging reality.”
HUD Report Finds Spike in Homelessness During 2020
Even with eviction and foreclosure bans in place, HUD’s 2020 report found an overall 2.2% increase in homelessness last year and no improvement for homeless veterans.
Senator Outlines Goals for Mortgage Reform; NAR Agrees
Government-owned Fannie Mae and Freddie Mac must be reformed, yet if done badly, it could threaten the U.S. housing market and possibly make 30-year mortgages obsolete. But a Senate Banking Committee member issued “guiding principles” that have been backed by NAR.
The Quiet Real Estate Revolution? 3D Printed Homes
About 40% of a new-home build can be completed in eight days or less with a (really big) 3D printer; it sells for a least 20% less than a comparable non-3D home.