The ‘Cloffice’: Is It a Closet? Or Is It an Office?
In a search for home office space, some people have opened doors, pushing clothes and boxes aside to turn one of their closets into a small office.
In a search for home office space, some people have opened doors, pushing clothes and boxes aside to turn one of their closets into a small office.
At Wed.’s 2021 Florida Real Estate Trends, NAHB Economist Dr. Robert Dietz called 2020 “a surprise year for growth,” and he along with other presenters generally agreed that the strong market will continue into spring, held back only by the need for more newly built homes.
Rates for 30-year, fixed-rate mortgages hovered near record lows again this week. Freddie Mac’s chief economist encouraged lower-income homeowners to refinance.
A study comparing listings to Airbnb properties found short-term rentals can boost property values in high-rent areas – slightly less if there’s high owner-occupancy.
However, the ownership rate for Blacks fell. The overall rate rose to 65.8% in the fourth quarter, but it’s 74.5% for white Americans and 44.1% for Black Americans.
RE Q&A: Two out of six children want to buy the property, and one sibling has since died. Who gets money? Does a share go into the deceased brother’s estate?
In 2010, owners stayed for 8.7 years; in 2020, it was 13 years. Pandemic worries, fear of a competitive market and ultra-low loan rates convinced many to hunker down.
Vacationers see private home rentals as a safer pandemic option, and demand has gone up. Fla. ranks second after Calif. with 154K listings and an occupancy rate of 55%.
Also: A condo board member purchases units at foreclosure sales – but that’s not allowed, right? And are front-gate employees allowed to photocopy license plates?
Get ready for your close-up. Thanks to social distancing and Zoom meetings, buyers and sellers online expect to see faces telling stories.