Home Prices Still Soaring in Undervalued Cities
Increases in Miami (up 36.2%) and Honolulu (up 23.5%) reflect remote work trends, but 8 cities with “top 10” price increases are ones with still-affordable housing.
Survey: 60% Saw Rent Increase in Past Year
Homebuyers priced out of the market due to rising interest rates are now competing with current renters when looking for available properties.
Wary of Email Scams? Check Snail Mail Too
In Pennsylvania, scammers claiming late taxes use Dept. of Revenue letterhead, demand accounting records and tell businesses to call a “resolution officer.”
Builder Confidence Now in Negative Territory
NAHB’s monthly survey of builders’ attitudes turned slightly negative this month. It’s the first negative reading since May 2020, the first month of pandemic lockdowns.
Fake Landlord Scams Orlando Renter
Renters are still being scammed by a fake “landlord” that doesn’t actually own property – but problems can get even worse if real landlords don’t find out right away.
Reverse Mortgages Became Far Less Appealing
A reverse mortgage helps older adults use equity to remain in their home, but higher interest rates, lender rebates and FHA mortgage insurance deplete tappable equity.
How to Minimize Final-Walkthrough Stress
The final walkthrough is often the ideal time for stressed buyers to get upset, and agents should prepare them for imperfections that can show up in now-empty rooms.
Fla.’s Insurer-of-Last-Resort Now Has 1M+ Policies
Citizens Property Insurance Corp. hasn’t had 1M policies since 2014, and the latest surge comes despite strong efforts to lower Fla.’s potential liability.
NAHB: Affordability at Lowest Point Since Recession
Only 42.8% of Americans with a median income could afford a median-priced home in the second quarter of 2022 – a sharp drop from 56.9% in the first quarter.
2 Fla. Cities in Top 10 for ‘Where to Buy a Fixer-Upper?’
A fixer-upper is ideal for buyers willing to invest sweat equity and live in less-than-ideal conditions. In Fla., Miami and Jacksonville rank high for fixer-uppers.