Lumber Tariff Cut Could Help Buyers of New Homes
The Commerce Dept. lowered the tariff from 20% to 9%. Higher lumber prices aren’t caused exclusively by tariffs, but lumber prices for a new home are up $10K-$15K.
NAR Clarifies New Code of Ethics Rule During Webinar
In the first of six training webinars, NAR speakers answered questions about a new Code of Ethics Rule, effective Nov. 13, that bans “harassing speech, hate speech, epithets or slurs” against protected classes. Must a Realtor, for example, no longer oppose same-sex marriages?
Mortgage Rates Drop to 2020’s 14th Record Low: 2.71%
It’s only a slight drop from last week’s 2.72%, but it’s enough to break another record. One year ago, the rate for a 30-year mortgage loan averaged 3.68%.
25 and Ready to Buy? We’ll See with Gen Z
Florida Realtors economist: Gen Z (oldest members turn 25 this year) faces unique obstacles with a pandemic marking their entrance into adulthood. Here’s what we know right now about their homeownership potential.
Investors Vying for Build-to-Rent Single-Family Homes
A pandemic-inspired push from cities to suburbs has sparked interest from investors who see profit in buying build-to-rent homes to lease to those urban relocators.
FHA Announces 2021 Loan Limits Starting at $356,362
The limit for Title II and reverse mortgages rises from this year’s base of $331,760. In high-cost areas, the limit can go as high as $822,375, up from $765,600 in 2020.
RE Q&A: Why Push Owners to Obtain Proof of Insurance?
Also: Fla. law gives unit owners more power to upgrade to hurricane standards – but a condo complex can’t have an array of different windows. How does that work?
Virtual Real Estate Forecast Summit: What to Expect in 2021
NAR’s Real Estate Forecast Summit goes virtual this year – but you must register. Seven sessions (Dec. 10, 11 a.m.-3 p.m.) will provide an overview of the year ahead.
Fla. Discriminatory Covenants Law: Does Your HOA Have Any?
SB 374, one of the last bills signed by Gov. DeSantis this year, prohibits “discriminatory restrictions” from any title transaction recorded in the state. Until now, those restrictions could be added or allowed to remain in any title transaction – they just weren’t enforceable in court.
Dear Anne: My Seller Won’t Work with Broker X. Now What?
A Realtor’s friend and colleague works at a different brokerage, and per a seller’s instructions, she must ban the entire brokerage from representing a buyer if she wants a listing. It’s a personal problem but is it a Code of Ethics problem? Can she ban a single business from the transaction?