Did the ‘Lumber Bubble’ Burst? Prices Drop 12%
Thanks to supply-chains and other pandemic-era challenges, the price for lumber – and new homes – soared higher. But lumber saw a notable price drop last week.
New 40-Year FHA Mortgage Appears Likely
In March, HUD published a proposal in the Federal Register to create a 40-year option for existing FHA borrowers, a move NAR backed in a comment letter.
30% Now Cite Climate Change as a Reason to Move
People have many reasons to move, but “climate change” is increasingly one of the factors they list, especially less favorable weather conditions in their area.
Protect Yourself From Data Thieves
The tech world can be scary, but you can take steps to lower your risk. Start with unique passwords for every site – and never log in using Facebook or Google.
3 of 4 Americans Put Homeownership Above Career
How do you define success? For 74% of people, it’s owning a home. For most people, it ranked higher than careers or even family in a Bankrate.com poll.
Buyers Doubled Down Payments in Two Years
The average down payment in this year’s first quarter was $28K (13.1% of purchase price). Two years earlier, it was $14K (10.9% of purchase price).
Rate Increases Pressure Younger Adults to Buy Now
Buyers who can still afford a home feel they must act quickly in the face of rising mortgage rates: 36% of millennials owners said it happened earlier than planned.
RE Q&A: Are Paint Color Rules Enforceable? Maybe
If an HOA’s paint-color rules haven’t been revised in decades, they’re still enforceable if nothing changed the rules. But who created these “rules”?
DeSantis Signs $109.9B Fla. Budget Into Law
A number of Florida Realtors-backed initiatives passed but still needed signed budget items to move forward. Hometown Heroes, for example, is now fully funded.
Condo Q&A: Must a Treasurer Be on the Board?
Also: If the HOA hires a property management company, what tasks require a CAM license? And is it illegal to hire someone without a license?