Home Affordability Hits 15-Year Low
Monthly mortgage payments in April took up 28% of a recent homebuyer’s monthly income, near the 30% threshold generally considered as “affordable,” says Zillow.
Proposed Citizens Rate Hikes Trimmed
Fla.’s “insurer of last resort” sought a 10.7% rate increase for homeowners with “multi-peril” policies, its most common; but the state approved an average 6.4% rise.
Gas Prices Sting U.S. Workers Who Depend on Cars
Millions of Americans who rely on their cars for work are changing their habits, signing up for carpools or riding bicycles to work as high gas prices strain budgets.
Realtors Hunt for Homes Amid Low-Inventory
High-demand buyers keep moving to Fla., seeking luxury homes with specific features, leaving RE pros to find and persuade homeowners to sell their properties.
Higher Rents, Remote Work Impact Tenants
TransUnion: Rents are rising faster than tenants’ income. U.S. apartment rents rose 14% from 2020 to 2021 but the median income of rental applicants is up 6%.
Fla.-Owned Insurer Spending $100M on Lawyers
Litigation adds to Fla.’s rising prices for property ins. Citizens Ins. – the Fla.-owned “insurer of last resort” – says it’s served with 970 lawsuits each month.
Condofax Safety Reports May Be Here Soon
Due to the Surfside tragedy, a new business model is emerging: Condo safety reports using the same type of system as Carfax reports for used-car buyers.
Rising Negotiation Point In Heated Market? Leasebacks
More sellers want to stay in their home after closing, sometimes for weeks or months, and agreeing to their request gives some buyers an edge over the competition.
An Underutilized Business Strategy: Mindfulness
The core of every real estate business? The agent who owns it. And if the agent isn’t relaxed and focused, the business will struggle to survive.
May New Home Sales Post Solid Gain: Up 10.7%
New-home sales made up lost ground after four consecutive monthly declines, perhaps because some buyers rushed to lock in a mortgage before rates went up again.