Provision Would Force all Shell Companies to Reveal Ownership
A move to fight money laundering promoted by Sen. Rubio would require shell companies in real estate transactions nationwide to identify their actual owners.
Courts Say Business Interruption Insurance Covers COVID-19
Two courts so far, one in Fla., have ruled that an owner with business interruption insurance deserves compensation, even if one policy doesn’t cover “viruses.”
Climate Change’s Impact on RE: It’s Not Just Home Values
In Miami, rising seas are redefining neighborhoods. Gentrification in higher-elevation, low-income neighborhoods is pushing affordable housing into lower-lying areas.
Fla. to Receive $2.5M for Veteran Housing Assistance
In Fla., 16 housing authorities statewide will receive money to help veterans keep a roof over their heads. It’s part of a $46M package of aid awarded by HUD.
Golf Club Communities Back on Buyers’ Radars
Developers’ push for golf course communities peaked around 1990 before demand started to collapse. But the COVID-friendly outdoor activity is popular again.
NAR: Financing and Appraisals Cause Transaction Delays
A lot of things can go wrong between contract and closing. NAR’s latest survey identifies financing (30%) first, but appraisals ties “Other” (21%) for third place.
NAR: Summit Economists Expect Good Things in 2021
More than 20 economic housing experts at NAR’s Real Estate Forecast Summit discussed a post-pandemic 2021 and, as a group, predicted the economy (GDP) will grow 3.5% (6.2% in 2022), home prices will climb 8% (5.5% in 2022) and mortgage rates will average 3% (3.25% in 2022).
Mortgage Rate Unchanged From Last Week’s Record Low
Last week, the average 30-year, fixed-rate mortgage hit its 14th record low this year, and it held onto that 2.71% rate. The 15-year loan was also unchanged at 2.26%.
Report: Gov’t Intervention Avoided a Housing Market Meltdown
If not for forbearance programs, the market could have seen as many foreclosures as it did during the Great Recession, according to Nationwide Housing’s latest report.
3 Top RE Economists Predict Slower 2021 Price Increases
Economists at a real estate editors forum Wed. agreed that prices would keep going up, but predictions varied from 3% (NAR) and 4.1% (CoreLogic) to 5.7% (realtor.com).