Buyers Should Shop for a Mortgage as Rates Rise
Experts say borrowers stand to save from around $1,500 to $3000 by comparison shopping and gathering multiple quotes from lenders.
More Fla. Inventory? Depends on Price Tier
Florida Realtors economist: Active inventory is up 68% year-to-year, but largely at higher price points as listings in the $150-$300K range continue to contract.
Foreclosure Starts Close to Pre-Pandemic Levels
Foreclosure bans ended a while ago, but starts are just now approaching pre-pandemic 2019 levels. But 2019 foreclosure starts were also historically low.
Office Market Return? It’s Still Not Clear
Many companies want employees back in the office, but with unemployment low, employees are in charge. Many are using carrots – not sticks – to get workers back.
Realtor Safety Month: 4 Steps to Take
Yelling “Stay safe!” to an agent meeting a first-time client at a listing isn’t enough. Brokerages need to make safety part of their standard operating procedure.
Renters-for-Life Decorating Like They Own It
More renters without ownership expectations will give up deposits to use paint colors they like, though a growing industry sells items like temporary wallpaper.
Highest Mortgage Rates Since 2008: 5.89%
Freddie Mac reports a second-week surge bearing down on 6% after last week’s reported increase to 5.66%. A year ago, the 30-year fixed rate mortgage average was 2.88%.
What’s in a Street Name? A Key to Home Values
Homes are more expensive along streets with the words Beverly, Third, Brickell, Bayshore or Island. But Timber or Knoll street homes took longer to sell.
Rents Coming Down – But It May Not Last
Nationally rents rose 14% in July year-to-year, down from June (15%) and May (16%) – and some Fla. cities have seen a decline, though it’s much smaller.
7 Florida Realtors Forms Updated, 1 Added
The association made small changes to the Buyer’s Disclosure Statement, Independent Contractor Agreement, Referral Agreement, Contract to Lease, Contract for Residential Sale and Purchase (CRSP), Vacant Land Contract (VAC) and residential listing agreements. It added an Appraisal Gap Addendum.