Demand for Fencing Skyrockets as Owners Seek Privacy
If fences make good neighbors, there are a lot more good neighbors out there. Lumber costs have gone up, but many buyers want “toppers” to make an existing one higher.
Number of Fla. Homes Behind on Rent or a Mortgage? 51%
Census Bureau: Fla. has more people struggling with housing costs than any other state. More than half in a survey think eviction or foreclosure is “somewhat likely.”
3 Fla. Metros in Top 20 for Sales of New Homes
New home construction is up 8.6% year-to-year, with Jacksonville, Orlando and Tampa three of the top 20 U.S. metro areas for new-home sales.
Inability to Pay Rent and Loans Now Affecting Banks
Small community banks dependent on commercial RE and small biz loans feel added stress from COVID-19; 2 banks failed in Oct., including 1 in Fort Walton Beach.
Case-Shiller: Home Price Increases Picking Up Speed
Prices rose 6.6% year-to-year in Sept., the biggest increase since April 2018, thanks to still-strong buyer demand and record-low interest rates.
U.S. Borders with Canada, Mexico Remain Closed Through Dec. 21
Don’t get hopes up for cross-border holiday travel. With the pandemic apparently escalating, the borders aren’t expected to open anytime soon.
FHFA Conforming Loan Limits Rise Almost $38K in 2021
Fannie Mae and Freddie Mac will accept loans up to $548,250 next year – an increase from $510,400 in 2020. According to the seasonally adjusted FHFA Home Price Index, third-quarter housing prices rose 7.42% year-to-year, so loan limits will do the same.
Consumers Less Optimistic as Pandemic, Economy Take Toll
While Americans’ view of present conditions changed little, a slowing economy and growing pandemic fears seem to be giving them a bit less hope for early 2021.
The Latest Must-Have Buyer Demand? Friendly Neighbors
The pandemic forced a lot of people to appreciate the benefits of a good neighborhood, and more are penciling that in as a shopping list must-have.
Many Still Think Flood Loss Is Covered by Property Insurance
If a lender doesn’t require flood insurance, many homeowners assume they don’t need it. But in S. Fla., Tropical Storm Eta’s visit shows it’s still worth consideration.