Hurricanes, Transactions and Contract Clauses
The Florida Realtors/Florida Bar contract has clauses that deal with casualty and bad-weather events. Here are the top four in the AS IS contract.
New-Home Sales Surged 28.8% Higher in Aug.
NAHB credits a short-term decline in mortgage rates (to 5.3%) as a reason for the uptick, with new-home inventory remaining at an elevated 8.1-months’ supply.
Consumer Confidence Up, Second Month in a Row
The Conference Board credits “jobs, wages and declining gas prices” for the 4.4-point Sept. rise. Both current outlooks and future expectations increased.
Case-Shiller Home Prices: ‘Forceful Deceleration’
The national Home Price index reported a 15.8% annual gain in July, down from 18.1% in June – the largest price deceleration in the history of the index.
Sixth Fla. Property Insurer Declared Insolvent
FedNat Insurance Co. cancelled 56.5K policies in May and agreed to transfer 83K in June, but it doesn’t have enough funds to process its existing claims.
2 Fed Officials: We Can Still Avoid a Recession
Boston Fed official acknowledged “apprehension about the possibility of a significant downturn,” but says “a more modest slowdown, while challenging, is achievable.”
Don’t Install Solar Panels on Older Roofs
A new law offers significant savings to homeowners who opt for solar roof panels within the next 10 years – but also expensive problems if an old roof needs replaced soon.
At What Point Do You Put Up Hurricane Shutters?
Shutters take time to put up and make homes feel like caves – but waiting too long is a mistake. Expert advice: Start once the NHC declares an area hurricane watch.
More Sun Belt Buyers Cancel Deals in Aug.
If a metro saw pandemic-era sales surge, it’s more likely to have skittish buyers canceling contracts in Aug. In Jacksonville, 1 out of 4 buyers walked away.
Big Drop in Percent of Buyer Bidding Wars
U.S. bidding wars dropped 2.6 percentage points between July and Aug, with Tampa dropping 11 points and Orlando down 12.4. Still, bidding wars rose 2.8 points in Miami.