Redfin: Home Sales Fell 4% in March
Rising prices and mortgage rates sidelined buyers, even though homes sold at their fastest pace and for more above list price than any other March on record.
Equity Motivates More Sellers
HomeLight survey: A rapid rise in equity is encouraging sellers to list their homes and they expect to make a profit; 87% say they expect more than 1 offer.
Gov. DeSantis Calling Insurance Special Session
Dates have yet to be set for the special session, which will have as its “main focus the reform of the property insurance market,” the governor said.
Inflation Top Concern Among Real Estate Investors
Survey: 65% worry about inflation, 63% rising interest rates and 58% access to capital concerns. Still, investors continue moving forward on projects.
FORMS UPDATE: Revisions to Nonlawyer Disclosure
Florida Supreme Court has approved a Florida Bar rule change that alters the Nonlawyer disclosure; this impacts 8 landlord-tenant forms found in Form Simplicity.
Numerous Challenges for Homebuyers This Spring
For-sale inventory is low, the imbalance of supply and demand is pushing up home prices, “home appraisal gaps” are common and mortgage rates are rising.
Tips to Elevate Your Social Media
First, you need to connect with your audience and build long-term relationships. Post on platforms where your clients are and use content you already have.
Bankers Lower Mortgage Demand Outlook for 2022
MBA: Overall mortgage originations will fall 35.5% from 2021 to $2.58T this year but higher home prices will help fuel a smaller 4% annual growth in volume.
Survey: First-Time Buyers Still Want a Bathtub
NAHB: Remodeling trends tend to remove the tub and supersize the shower, but 42% of first-time buyers want a shower-tub combo; 30% say it’s essential.
Building Materials Rise, But Lumber Prices Ease
NAHB: Prices of goods used in residential construction are up 8% since 2022 began and up 20.4% year-over-year; but lumber prices are down over 6% to lowest of year.