Sellers Staying? Post-Closing Occupancy Addendum
If sellers want a little more time in their property after a sale closes, it’s important they know how this negotiated term fits into their contract before committing to longer-term plans.
Buyers Waiving Appraisals? Tread Carefully
What happens when “Buyers waive appraisal contingency” is added into the sales contract? For a lot of Legal Hotline callers, the provision doesn’t do what they think.
U.S. Consumer Confidence Drops a Bit in May
The feature measuring current attitudes dropped slightly, but Americans’ future expectations lowered in the face of inflation and interest rates.
Case-Shiller: May Home Prices Up More than 20%
Tampa (34.8%) and Miami (32.0%) showed large increases among the 20-city index. Those waiting for slowing prices “will have to wait at least a month longer.”
Lower Fla. Confidence Tracks Rising Inflation Rates
Consumer confidence in Fla. dropped a bit again in May, only slightly higher than the June 2008 reading. Regular monthly drops seem to track inflation’s rise.
Sellers Waiting for Market Peak Think It’s Here
Some owners were waiting to list, hoping to maximize their potential profit; some may fear they have to act now. New listings are rising twice as fast as a year ago.
Owners Weigh Options – Decide ‘Stay’ Is Best
Americans like to sell homes and move, but current owners look at today’s frustrated buyers and their low interest rate and think, “I’m fine right here for now.”
‘Hometown Hero’ Program Starts June 1
50-plus careers qualify for home-buying help up to $25K – over 3M Floridians. Income limits start at $120K, home prices at $420K. Webinar training this week.
Lenders Can’t Deny Loans and Blame Technology
CFPB: Lenders are obligated to tell buyers why their loan application was turned down. They can’t plead ignorance and say an algorithm made the determination.
Check Email: FREC May Have Important Request
FREC didn’t receive course completion reports from some Fla. licensees who took the real estate salesman or broker’s test online between Jan. 2020 and June 2022.