Condo Q&A: Special Assessment Required for Needed Repairs?
Also: A board wants to fine an owner $10,000 for violating the governing documents, which seems like a lot. Does any law or rule cap the amount of fines?
Buyers: Don’t Track Mortgage Rates, Track APRs
Smart buyers compare mortgage rates from multiple lenders, but the APR (annual percentage rate, which includes fees) is a better gauge of costs over time.
NAHB: Lumber Prices Rose More than 170% in 10 Months
Builders want a Commerce Dept. investigation to find out why lumber production is so low – and they say new-home appraisers fail to factor it into their valuations.
Some People Rushed to Buy Homes During COVID and Regret It
Rocked by stay-at-home orders and facing a tight home inventory, a few people snapped up houses without fully considering options. Now some have buyer’s remorse.
USA Today: Small States Getting More Rent Assistance Money
An analysis finds that the $25B allocated to pay back rent isn’t enough, and the federal distribution plan favors smaller states on an amount-per-capita basis.
Lack of Black Neighbors Leads to Fair Housing Act Lawsuit
Two white and one Asian American filed the lawsuit saying they’ve been denied the chance to live in a racially integrated community in Detroit’s Islandview rentals.
Florida Legislature: Vacation Rental Fight Revs Up Again
How – and who – should oversee Fla. vacation rentals? The Florida Legislature has debated the topic for years, and it’s still a high priority issue for Florida Realtors. This year’s version would make Airbnb collect taxes, remit them to the state, ensure proper licensing and more.
Floridians Have Voluntarily Taxed Themselves $10.8B
Florida TaxWatch: Since 2010, Fla. voters have voluntarily passed 142 local tax referenda and new bond issues, often increasing their own sales taxes or property taxes.
NAHB’s ‘Biggest Remodel of 2021’ Is in Winter Haven
Builders picked a lakeside 1973 home as their “2021 New American Remodel.” In a major redo, the home gained higher ceilings and grew 1,400 square feet.
The Big Foreclosure Story? There Aren’t Many – Yet
ATTOM: In Jan. 2021, Fla. foreclosures were down 83% year-to-year, in part due to the foreclosure moratorium, which “doesn’t reflect market reality.”