Case-Shiller: Oct. U.S. Home Prices Up 1.4% Month-to-Month
The head analyst calls it “surprising strength,” noting that Oct. prices rose 8.4% year-to-year – even higher than Sept.’s surprising 7.0% increase.
NAR: Nov.’s Pending Home Sales Slide 2.6%
It’s the third consecutive month-to-month declines for signed contracts, but in a year-to-year comparison, they were up 16.4% – and every division was up double digits.
Benchmark U.S. 30-Year Mortgage Rises Slightly to 2.67%
After hitting a new record-low of 2.66% the week before, Freddie Mac said on Thursday that the average rate for a 30-year, fixed-rate mortgage bumped 0.01% higher.
Relocators Head to Sunny Sites – 5 Fla. Cities in Top 20
Report: Of the top 20 cities preferred by relocating Americans, 17 offer sunny, warm weather – and that list includes 5 Fla. metros from Tallahassee to Fort Myers.
Bill Signed: Rental Assistance, Stimulus Checks On the Way
After a short delay, the president signed a COVID relief package that offers financial help to landlords who cannot evict tenants during the pandemic, and $600 payments for many Americans. NAR posted updated info on how the rental-reimbursement program will work.
Condo Q&A: Does Florida Law Override a Declaration’s Language?
Fla. law says a condo association must maintain limited common elements; a declaration says it does not. Which one wins? Also: A condo board passed a rule that bans pit bulls, but a resident has had one for five years. Would the dog have to go if the board started enforcing the rule?
Can Sellers Demand Closing Money Before Delivering Keys?
Money isn’t always disbursed instantaneously at closing, and occasionally a seller wants to see closing proceeds in their bank account before they’ll hand over the keys. Is the seller allowed to do this? If not, what can the buyer do about it?
Dear Anne: Why Would I Ever Work with Non-Realtors?
Realtors pay dues. They adhere to a Code of Ethics. They work together under local MLS rules. But you said in last month’s column that I must work with real estate licensees who aren’t part of the Realtor organization. Why in the world would I willingly do that?
Legal Hotline: The Questions Asked Over and Over Again
Print this. Stick it on the fridge. Read it weekly. Realtors often forget or ignore certain issues unless there’s a problem, and then they call Florida Realtors Legal Hotline. While attorneys are here to help, they spend a lot of time explaining these seven oft-asked questions.
FHFA: House Price Index Up 1.5% in Oct., 10.2% from Last Year
It’s the fifth straight month home prices increased. “Extremely low mortgage rates and a limited supply of homes for sale continue to propel price gains.”