The VA updated appraisal requirements for VA-backed purchases and launched a new partial-claim option for veterans in default, giving real estate professionals timely information to share with VA buyers and homeowners who may need to contact their lender, servicer or VA.
Car ownership costs now rival mortgage payments in determining true housing affordability, with transit-accessible homes commanding a price premium nationally, according to new data.
Mixed economic reports are making the Federal Reserve’s next move harder to predict. Inflation remains a concern, while job growth came in weaker than expected, leaving buyers and sellers to watch how each new report could shift mortgage-rate expectations.
he average 30-year fixed rate mortgage rate fell to 6.43% from 6.49% last week, while the average 15-year rate dropped to 5.79% from 5.84%, mortgage buyer Freddie Mac said.
A new survey found 47% of U.S. consumers were targeted by fraud last quarter, most through phishing, smishing or voice cloning, as AI lowers the cost of mortgage fraud schemes.
A proposed HUD rule would change how the permanent chassis requirement applies to multistory manufactured homes, potentially lowering costs and making upper floors more practical. The issue is especially relevant in Florida, which has the nation’s largest manufactured/mobile home inventory.
Buyers who spot maintenance issues, odors, water damage or questionable DIY work during showings may respond with lower offers, added contingencies or harder negotiations.
Self-employed investors are buying more single-family homes, often using alternative loans that focus on rental income rather than traditional paychecks. The trend is especially relevant in Florida, where investor activity can shape both buyer competition and rental supply.
A new homebuyer survey found consumers favor buying over renting for the first time since 2023, with 53% saying buying is the better choice. Prices and mortgage rates remain the top barriers, but the findings give agents a reason to reconnect with renters, past leads and homeowners who paused their plans.
Agents who chase new leads while neglecting follow-up are leaving business behind, according to real estate trainer Darryl Davis. He recommends auditing activities by what produces real conversations versus what only feels productive.
Florida consumers grew more cautious as inflation concerns, household budget pressure and softer job conditions continued to shape expectations for the economy and major financial decisions.
A fresh state budget and two new Florida housing laws take effect July 1, advancing Florida Realtors legislative priorities tied to housing supply, affordability and local housing options. The changes inject new money into popular housing programs, make funds available for home hardening programs and update parts of the Live Local Act, among other things.
Borrowers with fair credit scores pay up to $192 more per month than those with excellent credit, a difference that compounds to $69,120 over the life of a 30-year loan.
A July 16 legal summit in Orlando will give Realtors a practical look at legal issues showing up in daily business, including AI, contracts, disclosures, FREC, lawsuits and complex transactions. The event offers 5 CE credits and is presented by Real Producers in partnership with Florida Realtors.
As tools evolve, communication, consistency and curiosity still help guide customers through complex and emotional decisions.
Young adults living with parents are not out of the housing market — they are delayed by affordability. Realtors can help them compare rent, starter-home options, down payment programs and realistic timelines for buying.
FHA policy changes could give some buyers more flexibility on repairs, appraisals and financing, while keeping property condition, repair costs and lender timelines central to the transaction.
HUD’s new guidance narrows how the agency will handle emotional support animal complaints under the Fair Housing Act, but NAR says housing providers should be careful before changing policies. Courts, state agencies and local fair housing laws may still treat the issue differently.
A dispute over a late escrow deposit centered on one missing contract detail: the seller never named the escrow agent. This case shows how leaving an escrow agent listed as “TBD” can turn a simple deadline issue into years of litigation and attorney fees.
A Tenant-occupied listing can still move smoothly if Realtors plan ahead. Learn key AS IS contract deadlines, including lease disclosure and tenant estoppel letter requirements.
What happened this year at NAR’s Realtors Legislative Meetings (RLM) in D.C. in June? Any changes to professional standards? What if you see something that could be better as it relates to professional standards? Is there anything we can do?
The average 30-year fixed mortgage rate rose to 6.49% from 6.47% this week, while 15-year rates climbed to 5.84%, Freddie Mac reported. Rates remain below year-ago levels as easing oil prices help cool bond market pressure.
Investment activity is not surging, but it remains strong enough to shape attention around certain homes, especially lower-priced properties and homes with rental potential.
Harvard found Florida had the nation’s highest renter cost-burden rate in 2024, while Census data shows nearly 1.7 million renter households here spent at least 30% of income on gross rent.
A broad housing bill passed by Congress will impact Florida conversations about new construction, financing, manufactured housing and entry-level competition. The White House previously signaled support for the measure, but the president canceled a planned Wednesday signing, leaving the bill’s final path unclear.
NAR data highlighted during the association’s recent Legislative Meetings points to several groups who may be closer to buying or selling than they realize, including longtime owners, younger sellers with equity, renters, pet owners and first-time buyers with questions about financing.
Real estate professionals say unprepared homes captured in listing photos can drive buyers to competing properties. Clutter, lighting and staging remain within sellers’ control before a shoot.
Collaboration with other top producers and consistent marketing assistance matter more than brokerage branding or commission structures when choosing where to work, agents say.
AI is closing the information gap between real estate professionals and customers while reshaping how agents work, NAR officials said at the association’s midyear conference, raising both new opportunities and compliance concern.
Florida Realtors Chief Economist Dr. Brad O’Connor told Homes.com that Florida remains attractive to buyers, but higher prices have cooled some relocation activity. The story found affordability improved in Jacksonville, Ocala, Orlando, Tampa and Port St. Lucie as some markets gained inventory.
Google’s move toward AI-generated search answers means Realtors must ensure their profiles, websites and content clearly communicate their expertise to be surfaced in results.
Most Florida metros still show a significant gap between available home listings and local household incomes, despite inventory gains, according to a new NAR affordability analysis.
Florida recorded 6,382 new residential construction permits in May, nearly unchanged from April, a new report shows. Regional data shows where builder activity remained strongest and where future new-home inventory may be taking shape.
Three in four Americans planning to buy a home within five years say they would overlook red flags in a property – a finding that underscores the role Realtors play in guiding customers through high-stakes decisions.
Mortgage rates fell this week, but future movement may depend less on the Federal Reserve’s latest decision and more on how clearly the central bank signals its next steps. Inflation, steady employment and possible changes in Fed communication could make rate expectations harder for borrowers to read.
Rising values may leave some longtime owners with taxable gains, making early conversations about timing, records and next steps more important.
The average long-term U.S. mortgage rate fell to 6.47% this week, while the 15-year fixed rate dropped to 5.81% – tracking Treasury yields that have retreated since a deal to end the war with Iran was announced.
Florida’s condo-townhome market posted stronger year-over-year sales activity in May, with closed sales up 6.6% and new pending sales up 9%, according to Florida Realtors data. Chief Economist Dr. Brad O’Connor said the pending-sales gain means the category’s nine-month streak of higher closed sales is likely to continue into June.
The Florida Realtors Education Foundation Inc. awarded $1,000 scholarships to Florida students pursuing higher education in the 2026-2027 school year. Since the program began, it has awarded more than $3.2 million to help 2,426 students.
The Federal Reserve held its benchmark rate steady Wednesday as policymakers showed growing concern about persistent inflation. New projections marked a shift from March, with several officials now expecting at least one rate hike this year.
Street ownership determines how far an HOA’s parking rules reach — and knowing to ask that question before closing is exactly what sets a Realtor apart.
New pending sales rose year over year in May, according to Florida Realtors data. Single-family pending sales increased 4.8%, while condo-townhouse pending sales rose 9%, offering an early signal of summer buyer activity as mortgage rates continue to shape the market outlook.
NAR and NAHB are urging federal officials to keep disaster response and flood insurance programs strong while making aid faster and easier to use. The groups support quicker mitigation funding and NFIP modernization but warned that some proposed FEMA changes could limit recovery help for homeowners after major storms.
The Federal Reserve is expected to hold its key interest rate steady today as new Chair Kevin Warsh leads his first policy meeting. The Fed does not set mortgage rates directly, but its outlook can influence borrowing-cost expectations. If policymakers signal fewer rate cuts ahead, buyers may need to reassess budgets and timelines.
Florida home sales rose again in May, continuing a nine-month streak of year-over-year gains. The data gives Realtors a useful way to talk with buyers and sellers about timing, pricing and how local conditions are shaping activity.
Large companies are linking search, financing and closing into closed ecosystems to capture buyer leads early, a shift industry observers say makes local Realtor relationships and early customer outreach more critical.
Gen X buyers are leading demand for multi-generational homes as adult children move back and aging parents need care. Realtors who understand flexible layouts, zoning and family dynamics can better serve this growing buyer group.
Florida TaxWatch expects the state to keep adding residents, a long-term signal for housing demand, inventory and local market needs.
Economists say higher energy costs pushed inflation up, but underlying price pressures were more contained – a key distinction for buyers watching mortgage rates.
Outdoor space is playing a larger role in buyer decisions, but sellers may get the most value from simple, low-maintenance curb appeal rather than costly garden upgrades.
Realtors will meet with lawmakers on federal issues tied to everyday customer challenges, including tight inventory, seller tax concerns and buyer access.
The 30-year fixed mortgage rate climbed to 6.52% this week, just below its 2026 peak, while the 15-year fixed rate rose to 5.84%, Freddie Mac reported. Both rates remain below year-ago levels of 6.84% and 5.97%, respectively.
Broker-owners can use personal contact, open communication and shared community work to make agents feel valued before competitors try to recruit them away.
The median home price has stabilized, and mortgage rates have eased enough that monthly payments are more manageable than they’ve been in years. Realtors can use that shift to restart conversations with buyers who went quiet and help them find negotiating leverage on listings that have been sitting.
Markets that saw strong pandemic-era demand now have longer sales timelines, more price reductions and higher inventory, giving Realtors current data to guide pricing and negotiation conversations.
A growing number of buyers are approaching mortgages through the lens of financial stress, past housing downturns and generational attitudes toward debt. The trend highlights the importance of understanding how financing fears may shape affordability conversations, refinancing decisions and long-term ownership expectations.
Women with high net worth are buying luxury homes with privacy, lifestyle function and investment strategy in mind, changing how brokers market and sell high-end properties.
Markets that saw strong pandemic-era demand now have longer sales timelines, more price reductions and higher inventory, giving Realtors current data to guide pricing and negotiation conversations.
A new survey found first-time buyers feel prepared but struggle with basic questions about costs and next steps. Use early consults to set expectations before showings.
A LendingTree study found Florida buyers could save an estimated $170 a month by comparing mortgage offers, adding another affordability step before the home search.
Misconceptions about inventory, mortgage rates and market timing are keeping some buyers and sellers from making decisions, even when local data tells a different story. Clear, fact-based conversations can help customers move past worst-case thinking and toward choices that fit their goals.
A quit-claim deed transfers ownership interest in a property, but it does not remove a borrower from the mortgage loan. That can create problems after divorce if the person later tries to qualify for a new mortgage.
A quit-claim deed transfers ownership interest in a property, but it does not remove a borrower from the mortgage loan. That can create problems after divorce if the person later tries to qualify for a new mortgage.
Homes tied to estates or inheritances often involve probate proceedings, legal paperwork, title questions and multiple decision-makers before a property can be listed for sale. Industry professionals say early coordination and clear communication can help keep these transactions moving forward.
U.S. News & World Report ranked 22 Florida cities among the nation’s best places to live, with communities across South Florida, Central Florida, the Gulf Coast and North Florida making the list.
The June recognition gives Realtors a timely opening to discuss ownership, wealth-building and realistic next steps with renters and future buyers.
Employers added more jobs than expected in May, a sign of labor market strength that could keep mortgage rates in focus for buyers and sellers.
Homebuyers over 55 are placing greater emphasis on aging-in-place features, maintenance needs and long-term lifestyle fit when searching for homes, creating new opportunities for Realtors who understand these housing concerns.
New agents need consistent daily, weekly and monthly habits to build lasting real estate careers, and independent brokerages don’t need franchise-level resources to help them get there. Success depends on clear systems, steady accountability and practical training that teaches agents how to prospect, build skills and stay motivated.
Higher mortgage rates and affordability pressures have shaped buyer demand. New data from the National Association of Home Builders showed incentives remained elevated for the 14th straight month.
Florida gained $20.6 billion in adjusted gross income as taxpayers moved from other states, according to new IRS migration data. The shift reflects the continued draw of lower taxes, lifestyle preferences and housing affordability.
Customers form opinions about agents before the first conversation through websites, social media, open houses and everyday interactions. Agents should focus on presentation, organization and online branding to build trust and credibility.
The average 30-year mortgage rate fell to 6.48%, while rates on 15-year mortgages fell to an average of 5.79%. When mortgage rates decline they give homebuyers more purchasing power.
Florida gained $20.6 billion in adjusted gross income as taxpayers moved from other states, according to new IRS migration data. The shift reflects the continued draw of lower taxes, lifestyle preferences and housing affordability.
Industry professionals said highly personalized upgrades and DIY projects often fail to deliver the resale boost sellers expect and may delay a home from reaching the market.
Households are showing more caution as inflation, energy costs and borrowing costs pressure budgets, a shift that can slow buyer decisions and put more focus on affordability.
Small, repeatable habits may be more effective for long-term growth in the real estate business than major resets or constant strategy changes.
Businesses using AI can get better results by relying on structured workflows, repeatable prompts and clear formatting rules to keep marketing, branding and communication more consistent over time.
International buyers remained highly focused on Florida in the first quarter of 2026, with Miami, Orlando and Tampa ranking among the nation’s most-viewed housing markets by overseas shoppers. Canadian demand is also rising across several Florida metros, particularly in Cape Coral, Naples and North Port.
Florida lawmakers begin a special session today to consider Gov. Ron DeSantis’ proposal to expand the homestead exemption and establish a path toward eliminating property taxes on primary residences. If approved by lawmakers, the constitutional amendment would go before voters for consideration.
Tax planning is often treated as an annual, or quarterly, task tied to filing deadlines, but financial experts say it can have a much larger influence on long-term wealth building if it’s approached as an ongoing financial strategy rather than a last-minute exercise.
New agents need consistent daily, weekly and monthly habits to build lasting real estate careers, and independent brokerages don’t need franchise-level resources to help them get there. Success depends on clear systems, steady accountability and practical training that teaches agents how to prospect, build skills and stay motivated.
A proposed federal rule could reshape how independent contractors are classified under labor law, a change real estate leaders say would provide more clarity and consistency for brokers and agents
The average 30-year fixed rate rose to 6.53% this week from 6.51%, while the 15-year fixed rate increased to 5.66% from 5.65%, according to Freddie Mac. Rising borrowing costs continue putting pressure on affordability and monthly payment calculations for buyers heading into summer.
Several Florida office markets are outperforming broader national trends, according to a new CommercialCafe report. Miami posted the nation’s lowest vacancy rate among major office markets at 12.5%, while Tampa remained below the national average and Orlando stood out for comparatively affordable office rents.
A strong digital presentation will help sellers attract more attention before buyers decide whether to schedule an in-person showing.
A nationwide overhaul of appraisal reporting is underway, bringing more detailed property data and standardized reporting requirements.
In a strong seller’s market, addenda W and X can help sellers accept a top offer while protecting their next option if the deal falls through.
When Realtors prepare a value or price opinion, other than in pursuit of a listing or to assist a potential buyer in formulating a purchase offer, the opinion must include any present or contemplated interest, including the possibility of representing the seller or buyers.
Whether an HOA can regulate street parking often depends on who owns the road. Associations generally have more authority on private streets than public roads.
Consumers grew more cautious about spending in May as inflation remained elevated, but interest in existing-home purchases held up better than broader consumer sentiment.
Buyers interested in lifestyle-focused, master-planned communities continue to show strong interest in relocation markets, particularly in warm-weather states. They’re financially secure, expect to pay cash for their next home and are more deliberately researching their choices.
A new survey found many Americans misunderstand what standard homeowners and auto insurance policies actually cover, including flood damage, rebuilding costs and common exclusions. For Realtors, the findings underscore why insurance literacy should be part of affordability and homeownership conversations early in the buying process.
Florida House and Senate leaders reached a final agreement on a nearly $115 billion state budget late Sunday, clearing the way for lawmakers to hold a final vote Friday after an extended special session. The plan includes funding for Florida Realtors legislative priorities – Hometown Heroes, SHIP and SAIL affordable housing programs.
TikTok, Instagram Reels and Facebook Live are generating the strongest brand engagement, while polished static posts continue to lose ground across platforms, according to a new report.
Two national beach rankings placed several Florida beaches among the nation’s best, giving real estate professionals a timely way to discuss lifestyle demand, tourism visibility and the factors shaping coastal housing markets.
A new report found buyers in the South made smaller down payments than buyers in other parts of the country during the first quarter of 2026, reflecting lower home prices across many Southern markets even as affordability pressures remain elevated nationwide.
As competition grows and larger brokerages invest heavily in retention and technology, more agents are combining direct mail, email, digital content and relationship-based outreach into coordinated campaigns designed to create long-term visibility and steady business momentum.
Florida’s luxury housing market gained momentum in early 2026, with multimillion-dollar home and condo sales rising sharply statewide, led by strong growth in the ultra-high-end market.
Agent recruiting activity accelerated in the first quarter of 2026 as brokerages competed more aggressively for talent after a slower 2025, according to a new industry report.
Florida’s housing market is entering a period where the next several months could help determine whether conditions stabilize or soften later in 2026, according to Florida Realtors Chief Economist Dr. Brad O’Connor.
Federal Reserve officials said rate hikes could still be considered if inflation stays high, adding uncertainty for buyers and sellers hoping for lower mortgage rates.
The 30-year fixed rate mortgage rate rose to 6.51% from 6.36% last week, while rates on 15-year loans moved to 5.85% from 5.71% last week.
Florida Realtors’ Chief Economist Dr. Brad O’Connor says statewide inventory levels resemble the 2014-2020 period far more than the post-2008 foreclosure crisis, with single-family supply just 7% above April 2019 levels.
Mortgage rates are expected to remain near 6.3% through much of 2026, a forecast that could continue shaping affordability, inventory and buyer demand. Local market conditions and negotiating trends remain critical as inventory slowly improves.
As social platforms scan captions, video audio and on-screen text, Realtors should use clearer keywords and more specific hashtags to help buyers and sellers find their posts.
Florida condo and townhouse sales rose 7% year over year in April, with pending sales up nearly 15%, giving agents new tools to re-engage affordability-focused buyers statewide.
Hot, yes. Exodus? Not yet. New research from Florida Atlantic University finds that extreme temperatures aren’t pushing residents out of Florida or other Sun Belt states.
Many first-time homebuyers still plan to purchase homes despite affordability challenges, with buyers increasingly willing to compromise on location, size and financing strategies to enter the market.
House and Senate negotiators remain aligned on $50 million for Hometown Heroes and full SHIP and SAIL appropriations as budget talks continue.
House and Senate negotiators remain aligned on $50 million for Hometown Heroes and full SHIP and SAIL appropriations as budget talks continue.
New pending sales of single-family homes in Florida rose 8% year over year in April, a sharp increase that Florida Realtors Chief Economist Dr. Brad O’Connor said could signal continued closed-sales growth into May and June
Tampa, Orlando, Jacksonville, Hialeah, St. Petersburg and Miami ranked in the top 10 for startups in a new WalletHub analysis of 100 large U.S. cities.
Florida’s housing market posted its eighth straight month of year-over-year closed sales gains, with condo and townhouse activity showing particular strength.
Litigation drops, insurers cut rates and more companies enter Florida, easing insurance costs and improving affordability and market stability.
A growing share of younger buyers is relying on family help, gifts and assistance programs to buy homes, highlighting how affordability pressures are reshaping the path to homeownership.
A new ConsumerAffairs analysis found affordability rankings improved in several Florida housing markets, including Jacksonville, Ocala and Orlando, though high-income thresholds remain in Naples and Miami.
Creative, personality-driven listing videos are helping agents stand out, build recognizable brands and turn views into listings and leads. A Naples-area Realtor highlighted by NAR shows how.
Rates edged lower this week after rising the previous two weeks, with the average 30-year fixed mortgage rate dipping to 6.36% and the 15-year fixed rate easing to 5.71%, according to Freddie Mac. The slight decline may help some buyers revisit affordability calculations heading into the summer market.
Florida leads the nation in 65-plus households, but the NAHB says the “silver tsunami” alone won’t solve tight housing inventory.
A Realtor.com report found child care costs are adding to affordability challenges for families already weighing home prices, rents, insurance and other expenses.
A 10-year rent-vs.-buy analysis found projected homeowner equity topped renter investment returns in five Florida markets, led by Miami.
A Realtor.com report found the growing “commute tax” is shrinking home searches as buyers factor transportation costs into overall affordability. Florida agents say commute times and day-to-day travel expenses are becoming increasingly important in housing decisions.
Fannie Mae and Freddie Mac are updating condo project review, reserve and insurance standards, with several changes taking effect in 2026 and 2027.
Most buyers expect AI throughout the process, but trust is dropping and the majority still prefer a real person for key decisions
Florida’s migration has slowed from its pandemic peak as affordability reshapes who moves in and out, especially younger workers, families and retirees.
Migration to Florida has slowed from its peak but is still greater than pre-2020 levels. Higher costs are changing who can afford to move here and what they’re looking for.
Florida lawmakers return to Tallahassee to finish the state budget, with decisions ahead on taxes, spending and programs tied to housing, growth and the environment.
Higher-priced, flexible homes are drawing more attention as families combine households. The shift is opening new opportunities for agents to match evolving buyer needs.
The generation coming up make look different on paper than their predecessors,
As more Gen Z workers choose trades and apprenticeships over four-year degrees, Florida’s entry-level housing market could see a new wave of buyers with less student debt, earlier earning power and different homebuying priorities.
While most homeowners with low mortgage rates say they plan to stay put, surveys suggest lifestyle shifts and affordability concerns may eventually drive more listings.
Florida also ranked first 10th for future economic outlook. The rankings were fueled by strong domestic migration, job growth and gains in economic output, while the state’s tax and regulatory environment also helped boost its standing.
Rates on 30-year mortgages rose to 6.37% from 6.3% last week, returning to levels seen a month ago. Rates on 15-year mortgages rose to 5.72%.
Real estate made up more than 25% of Florida’s economy in 2025, the highest share in the nation, according to a new NAR report.
Buyers turned to new builds in March as existing-home inventory stayed limited and mortgage rates eased slightly.
As hurricane season nears, homeowners should review their coverage now. Always keeping clear records helps avoid delays and disputes.
Sticky inflation and elevated mortgage rates could keep pressure on buyers and housing demand as the Fed waits for clearer economic signals.
High rents and rising costs are making it harder to buy. Building credit, managing spending and staying focused can help keep homeownership within reach.
Property owners say eviction bans left them with unpaid rent, debt and lasting business strain as a lawsuit moves forward in federal court.
While shared branding and lead flow matter, strong teams develop clear roles, build trust, improve processes and focus on work that directly drives business.
The latest revenue report reached $3.97B – 1.5% above expectations, signaling the state’s economy is holding steady, which helps support buyer confidence.
Mortgage rates may stay steady, but global tensions and Fed signals could shift the market. Agents who understand rate drivers can guide buyers through uncertainty.
NAR: The national median single-family existing-home price rose slightly – up 0.5% YoY – to $404,300, down from 1.2% annual growth in 4Q 2025.
NAHB: The latest data shows remodeling remains strong for the residential construction market, reflecting sustained consumer demand and industry confidence.
When both parties clearly understand and discuss all of their priorities – not just price – it reduces friction and supports smoother closings.
More homebuyers may be ready to enter the market now – figuring out debt-to-income ratio, interest rates, budget considerations and other factors are key.
Florida’s unemployment rate ticked up for the 7th month in a row in March to 4.7%, reflecting about 523K qualified as out-of-work from a labor force of 11.15M.
Real estate Q&A: A new survey found the overlap, not uncommon as property lines don’t always match assumptions. Confirm the results first, then talk to the neighbor.
First-time claims, at 5,375, dropped for the 2nd week in a row. Fla.’s jobless rate has slowly increased to 4.75%, reflecting mid-February conditions.
The government’s spending and investment grew at a 9.3% annual rate in Q1 while consumer spending growth slowed to 1.6%. Q1 covered about a month of the Iran war.
Realtor.com April report: U.S. home prices fall for 6th straight month, but fewer price cuts indicate that sellers are entering the market with realistic expectations.
Open houses can generate traffic, widen the pool of potential buyers, shorten the decision window and support stronger offers, plus reinforce buyer trust.
Thoughtful planning can help would-be home buyers prepare for the experience. A clear look at finances and budget is a good place to start.
Prices rose 3.5% compared to a year ago, pushing inflation further away from the Fed’s 2% target, likely leaving interest rates on hold at least for now.
Ending a 3-week slide, it’s up from 6.23% last week, but lower than the 6.76% a year ago. The 15-year FRM rose to 5.64%; it was 5.58% last week and 5.92% a year ago.
Real estate transactions may rely more on physical mail and delivery timelines than agents realize, creating potential exposure if postal service disruption worsen.
Several broadband-focused bills passed by the U.S. House aim to expand high-speed internet access, helping to unlock housing demand in rural and underserved areas.
For the second month in a row, Floridians are feeling less confident about their finances, with higher gas prices, other rising costs and accelerated inflation.
Housing production bounced back in March as builders increased starts despite headwinds. Overall starts rose 10.8% to a seasonally adjusted pace of 1.5 million.
A reset using a three-step framework – asking better questions, seeking new knowledge and sharpening neglected skills – can boost business momentum.
To get the most out of the investment, prioritize location, think about return on investment when doing renovations and sell a home at the right time.
Consumers’ income expectations were slightly more optimistic and their perceptions of the labor market improved, but otherwise little else changed from March.
In an $880M deal, the Florida-based Real Brokerage will acquire RE/MAX Holdings and brand, forming the new Real REMAX Group, a “tech-enabled global platform.”
Realtors must indicate their status as real estate professionals, even in an ‘informal’ advertisement, even when selling vacant land, even if the Realtor owns the vacant land that’s for sale.
Florida is no stranger to “best” lists, with all it has to offer. Two cities recently gained attention from HGTV for being among the top suburbs in the U.S.
Spending time on revenue-generating activity, client strategy and reducing repetitive tasks gets stronger results and helps business grow.
The expansion of ADUs is a Florida Realtors’ legislative priority; a Fla. housing summit noted smaller lot sizes could help create more “starter home” type housing.
Before the sale or exchange of conservation land, at least 30 days public notice will now be required, plus a reason why it’s no longer needed as conservation land.
Moving costs go beyond housing. Taxes, transportation, utilities, insurance and everyday expenses can shift by location, changing how far a budget really goes.
A difficult neighbor may need to be disclosed if issues are ongoing. Being clear and factual can help sellers avoid problems later.
Features like quartzite counters, outdoor showers and fireplaces are drawing higher sale prices as buyers look for homes that feel updated and comfortable.
Lenders have invested in automation, but disconnected systems and inconsistent data are slowing files and keeping loan costs elevated, an industry executive said.
Lawmakers reached a deal on spending levels, but key differences remain on affordable housing, land conservation and other priorities. A special session begins May 12.
Simple paint updates can reshape how buyers see a home, making spaces feel calmer or brighter. The right colors widen appeal and help buyers picture living there.
Putting homes in front of buyers isn’t enough. Strong pricing, presentation and agent insight help guide better decisions early in the process.
With AI reshaping online search, businesses are seeing visibility tied to credibility, strong content, expertise and clear structure.
Updated scoring models will allow government-backed loan programs to consider additional data in underwriting, including rent and utility payment history.
Rates on 30-year fixed mortgages rate fell to 6.23% from 6.3% last week, while 15-year rates dropped to 5.58% from 5.65%, giving buyers more breathing room.
Fresh paint, cleanup, lighting and simple landscaping can make a home look more inviting without requiring a major pre-listing investment.
About 85% of homeowners say they didn’t have key information before buying, with common gaps around down payments, costs and financing options.
In a slower market, sharper prospecting, clearer expectations and steadier negotiation can help agents hold deals together and protect business.
A new Florida law allows homes on certain agricultural land surrounded by development, creating more housing opportunities and aligning property use with nearby growth.
Florida leaders say budget progress continues, but no immediate return to Tallahassee is planned, leaving timing up for continuing negotiations.
Inheriting a mortgage-free home offers flexibility, but decisions on selling or keeping it, along with legal steps and upkeep costs, can shape its long-term value.
One-story homes offer open layouts, simpler maintenance and long-term usability, aligning with how many buyers want to live now.
Focusing on past customers and contacts with helpful, timely posts can spark conversations, build familiarity and drive referrals over time.
The region, including Florida, saw the strongest gains, with signings up 3.9% monthly and 2.3% yearly as job growth and price cuts drove activity.
Redistricting, budget talks and a packed special session agenda mean a property tax proposal is still in the works and might not be ready until late May.
Higher-income careers still lead in homeownership, but local affordability is reshaping who can buy, with many metro areas seeing shifts over the past decade.
Two Florida agents were named to NAR’s 2026 30 Under 30, recognized for business success, leadership and a focus on delivering value to buyers and sellers.
Miami and RWorld will merge May 11, creating a 93,000-member association and expanding MLS data, tools and reach across South Florida.
Scams tied to property deals are rising, with more than 12,000 victims reported. AI is making schemes harder to detect and easier to scale.
Drought and dry conditions have raised wildfire risk across Florida, prompting officials to urge homeowners to prepare properties and follow local burn bans.
In real estate, thoughtful questions and careful preparation can reveal priorities that help both parties reach a better outcome.
Lenders review income, savings, property value and credit to gauge risk. Knowing these can help buyers prepare before applying.
From managing energy to building deeper connections, introverted agents can grow steady business without relying on cold calls or constant outreach.
Earnest money shows buyers are committed and financially ready, helping sellers feel more secure about accepting an offer.
Homeowners usually must cover costs to fix setback violations, even if the HOA approved it. Documents, prior approvals or a variance could help shift costs.
Florida Realtors Pres. Bonfiglio: Fla.’s market is “showing a more balanced and sustainable direction.” Closed single-family March sales up 5.9%, condo sales up 12%.
Safety, efficiency and modern design are driving bathroom updates. Even small upgrades can boost appeal, cut costs and help homes stand out to buyers.
AI-driven impersonation, phishing and home improvement scams are rising. Slowing down, verifying requests and avoiding unusual payments can help prevent losses.
Common seller objections can slow a sale. Focusing on closed sales and current competition can help avoid stale listings.
Commissioner Mike Yaworsky said Florida’s insurance market continues to recover after reforms, but progress will take time to show up for consumers.
Rates on 30-year mortgages dropped to 6.3% from 6.37% last week, and 15-year rates also eased, from 5.65% from 5.74% last week, Freddie Mac said.
Homeowners can avoid costly renovation surprises by getting multiple bids, planning for hidden expenses and leaving room in the budget for overruns.
Simple spring yard tasks like mulching, pruning and weeding can help landscapes stay healthy and polished, keeping curb appeal strong through the summer heat.
Higher material and energy costs are slowing momentum. In the South, including Florida, conditions held steady as incentives remain widely used.
A new NAR report shows first-time buyers at record lows as Gen Z gains ground. Agents are playing a central role in transactions across all age groups.
Higher prices and mortgage rates mean buyers should know their budget, plan for added costs and weigh affordability before purchasing.
Nearly 6 in 10 parents are stepping in, often contributing $25K to $100K+ to cover down payments, closing costs or help buyers qualify in a tight market.
White House economists estimate a 10M home shortfall and say cutting regulations could boost building, ease costs and lift homeownership.
Single women now own far more homes than single men and lead in most U.S. metros, including fast-growing Florida markets where prices better match single incomes.
Florida Realtors released Spanish versions of two contracts as reference tools. State law requires contracts be in English, so translations aren’t binding.
The settlement, if approved by the court, reaffirms prior practice changes and would release members, state and local associations, and more from liability.
As U.S. homes age, owners are investing more in updates and repairs, creating opportunities to improve value and extend a home’s lifespan.
Avoid common missteps and move forward with confidence by planning ahead, comparing loans and keeping your budget realistic.
Sales in the South, including Florida, dipped 3.1% in March but remain up 2.2% year over year, NAR said. Inventory continues to limit the market’s pace nationwide.
Florida’s vacation rental market remains competitive and profitable, with successful properties standing out, offering sought-after features and following local rules.
The dip in mortgage rates may give buyers more room and offer a modest lift as the spring housing market continues to gain traction.
What looks like a minor deck issue can turn into an expensive project, with hidden structural problems, labor and materials quickly driving up costs.
States like Florida limit HOA bans on work vehicles. Vague rules or improper notice could make fines unenforceable, giving owners room to challenge.
U.S. consumer sentiment fell more than expected in April, signaling rising concern about finances that could slow spending, including big purchases like homes.
The dip in mortgage rates may give buyers more room and offer a modest lift as the spring housing market continues to gain traction.
New data shows supply falling behind demand across rental and for-sale markets, with shortages concentrated in major metro areas.
Intentional hiring and clear roles help agents build teams that expand reach, protect the brand and deliver consistent service, rather than chasing fast growth.
Outdoor living is part of what makes Florida so attractive, so targeted upgrades can raise home value for sellers and deliver the functional space buyers want.
Intentional hiring and clear roles help agents build teams that expand reach, protect the brand and deliver consistent service, rather than chasing fast growth.
Florida still faces a 15% chance of a major hurricane along the East Coast and 20% along the Gulf Coast, according to one of several preseason forecasts.
Fed minutes show growing concern that inflation could stay elevated, a shift that could delay rate cuts and ultimately keep mortgage rates higher.
The average 30-year fixed rate mortgage rate dropped to 6.37% from 6.46% last week, while 15-year rates dropped to 5.74% from 5.77%, according to Freddie Mac.
Some home projects carry higher risks, including electrical, plumbing and roof work, where mistakes can lead to safety issues, damage or costly repairs.
Open houses can bring theft and liability risks. Sellers are advised to secure valuables, limit access and use tools to monitor visitors.
Prioritizing referrals and high-value prospects, while trimming inefficiencies, can boost closings and protect margins.
Rents across Florida fell 3% year-over-year in March, with the Sarasota area posting one of the largest metro declines as supply continues to expand.
Strong sales kept Florida at the top of 2025 master-planned community rankings, with multiple high-ranking developments despite a modest slowdown.
A top official said rising inflation could trigger an interest rate increase, which could push mortgage rates higher and complicate expectations for relief this year.
Comparing phone plans requires more than price shopping, since remaining balances, expiring credits and added fees shape the true cost.
Home equity isn’t just an asset. It can help homeowners navigate life changes, balance current needs and future plans and maintain financial stability.
Smart updates, strong locations and timing can boost returns. Minor kitchen upgrades and spring listings often deliver the biggest payoff.
A top official said rising inflation could trigger an interest rate increase, which could push mortgage rates higher and complicate expectations for relief this year.
Market activity is expected to increase this spring, driven by delayed demand, though affordability remains a key hurdle.
Even small delays can add up across a team. Reliable internet helps keep communication smooth, transactions on track and day-to-day work moving.
Google now allows email address changes, offering a more professional identity without losing messages, settings or account history.
Rates remain elevated, but conditions are improving. Buyers who think long term, explore programs and plan carefully may still find opportunities.
Many homeowners hesitate amid shifting market signals. Agents say pricing, planning and equity matter more than timing the “perfect” moment to sell.
Global tensions are fueling inflation concerns, driving bond yields higher and keeping borrowing costs elevated despite mixed projections.
Business leaders remain confident in the state’s outlook, with steady hiring and growth expectations pointing to continued momentum in Florida.
Loose dogs can create liability and neighbor disputes. Homeowners can start with a conversation, then document issues and check local rules if needed.
Simple updates like power washing, porch seating and window boxes can boost curb appeal, making a home look cleaner and more inviting without a big spend.
More owners are remodeling for long-term living, boosting demand for accessible features and flexible design across housing markets.
Economists see little room for rates to fall, with forecasts keeping them above 6% through 2026, though earlier projections pointed to a possible dip to 5.7%.
Financial pros say the 30% rent ‘rule’ is a useful guide, not a hard line, especially as renters juggle debt, savings and higher living costs.
Material, lifespan and storm wear can influence pricing and future insurance options, making roof age a key buyer concern.
Financial pros say the 30% rent ‘rule’ is a useful guide, not a hard line, especially as renters juggle debt, savings and higher living costs.
Today’s buyers are drawn to flexible layouts, thoughtful design and features that reflect how they actually live and use their space.
Spring timing could boost pricing and buyer demand across Florida, with peak selling conditions varying by market through April and May.
The average 30-year mortgage rate rose to 6.46% from 6.38% last week, while costs on 15-year fixed-rate mortgages increased to 5.77% from 5.75%.
New IRS estimator reflects tax law changes and helps workers adjust withholding, potentially increasing paychecks while avoiding surprise tax bills.
Consumers across the nation reported a slight lift in sentiment, but rising gas prices and higher inflation expectations suggest growing concern about everyday costs.
Large vehicle payments are tightening budgets, leaving less room for housing costs and making it tougher to qualify for a mortgage.
In April, the spotlight turns to fair housing protections, with a reminder of illegal practices and resources available to help agents stay current and informed.
Premiums are flattening or falling as litigation drops and insurers expand, easing pressure on buyers and sellers even as new risks emerge, a new report found.
Scammers are impersonating agents and posting fake listings. Learn the red flags and how to spot fraud before it disrupts a transaction.
Real estate licensees can be disciplined in a variety of forums, including criminal courts, administrative hearings and local real estate boards. In part three of our series about discipline, we’ll focus on discipline involving the National Association of Realtors Code of Ethics.
When Realtors sell their own properties, do they have the same duty to disclose its condition as they would when representing a seller? Read more to find out.
AI is already reshaping how agents work. Here’s why brokers need clear guardrails. NAR’s AI policy template can help you get started.
Owning a home comes with tax considerations that can influence affordability today and potential gains for both buyers and sellers.
Slow or inconsistent follow-up often costs agents deals. Tracking response time, messaging and timing can help turn more inquiries into closings.
Florida is among the states collecting detailed insurer data on claims, cancellations and policies to give officials a clearer view of coverage trends.
Six Realtors from Florida made NAR’s 30 Under 30 finalist list, highlighting rising talent across key markets as agents gain visibility and influence statewide.
The dip in March was driven by weaker buying plans and growing concern about the national economy, even as views of personal finances held steady, UF found.
Falling for a home too fast can cost you. Check pricing, location and long-term value before signing to avoid costly surprises later.
Off-market luxury sales are rising, rewarding agents with strong builder connections and early access to projects.
Renting expectations are shifting fast. Gen Z wants quick, flexible leasing, while older renters prioritize stability, reshaping how rentals are offered.
Florida tops the nation in demolition permits, highlighting how older housing and demand are pushing rebuilds that could shift supply in key markets.
Latino households are driving housing demand, especially in Florida. Entry-level inventory will stay tight as younger buyers enter the market.
That unused dining room could be a selling point. Here are seven ways homeowners are reworking the space to fit how people live now.
Rental scams are on the rise. Agents who educate renters on red flags can help prevent fraud, protect personal data and strengthen their value in the transaction.
Developers are blending housing with healthcare and wellness amenities, with Florida leading as aging, affluent buyers fuel demand for longevity-focused living.
National pending home sales rose 1.8%, with Florida metros like Jacksonville and Miami posting strong gains, signaling steady demand and more closings ahead.
Homebuyers who purchase earlier gain more equity over time, leading to a $119K net worth gap by age 50 compared to those who wait.
Wellness rooms, bold colors and updated outdoor spaces are among the renovation trends shaping homes in 2026, along with simple DIY upgrades like new faucets and cabinet hardware.
Consistent outreach, visibility and collaboration can help maintain referral networks, turning introductions into a steady stream of borrowers.
More listings and cooling price growth may reshape housing conditions this year, giving buyers more options while pushing sellers to price strategically.
The orders direct agencies to cut rules slowing construction and mortgage lending, a move aimed at boosting housing supply and easing affordability challenges.
Florida Realtors chief economist: For the sixth straight month, closed sales rose for both single-family homes, up 3.9%, and condo-townhouses, up 8.6%.
Despite delayed state budget, Florida Realtors secures policy wins and protects RE industry from unintended consequences during 2026 legislative session.
AI tools can run workflows and handle tasks automatically, but experts say human oversight helps catch mistakes and manage decisions involving risk or nuance.
Construction sites may be allowed temporary signs with builder or project info. Local ordinances set limits, and code enforcement can review possible violations.
Rising costs and economic uncertainty weighed on households in early March. The survey offers clues about buyer confidence as the spring homebuying season ramps up.
Inflation concerns tied to the Iran conflict could complicate the Federal Reserve’s next moves as policymakers weigh price stability against a cooling labor market.
January housing starts moved higher on multifamily gains, while single-family activity weakened as affordability and construction costs continued to weigh on builders.
Buying power varies across Florida. Jacksonville buyers get the most space, while Miami buyers get far less due to higher price-per-square-foot costs.
The average 30-year mortgage rate rose to 6.11% and the 15-year to 5.5% on market volatility pushing borrowing costs higher as the spring homebuying season begins.
A broad housing bill passed the U.S. Senate to boost supply and curb investor activity. The measure now returns to the House before it could reach the president.
NAR’s Shannon McGahn said passage of the ROAD to Housing Act helps address the housing shortage. The bipartisan bill now moves to the House and the president.
More owners plan renovations in 2026. Understanding how projects are planned and managed offers insight into upgrades that can influence a home’s value.
High rents, tight starter-home supply and income gaps sidelined many millennial and Gen Z buyers in 2025, leaving would-be purchasers on the sidelines.
As consumers continue to limit notifications and unsubscribe from emails to offset digital fatigue, businesses are focusing on fewer, more relevant messages.
Spring sellers may boost sale prices with a few early decisions. Real estate pros can help shape pricing, timing and presentation before listings hit the market.
Builders highlight demographic changes, remote work and aging homes as key forces that could influence housing demand and construction for years to come.
Real estate agents say small landscaping updates can make a difference before listing. These simple fixes can improve curb appeal and help homes stand out online.
Missed sales could be hiding in simple website mistakes. These six accessibility fixes are easy to implement and can help small businesses engage with more customers.
Rising rebuilding costs mean many homeowners may not have enough insurance to replace their home after a disaster. Experts say it’s important to review coverage.
Across the U.S., activity edged higher while the South posted a year-over-year gain as affordability improved for the eighth month.
Housing reports arrive this week, but inflation data may decide what happens next with mortgage rates, Fed policy and the housing market.
Experts say budgeting for maintenance, energy upgrades and taxes can help homeowners manage rising housing costs.
Using retirement savings can help buyers cover a down payment, but experts say borrowers should consider the long-term financial tradeoffs first.
AI-powered search is reshaping how people find local services, and businesses without strong digital foundations risk losing visibility.
The association emphasizes that brokers and agents who choose to participate in an MLS agree to comply with the policies and rules.
Mortgage rates rose this week as Middle East tensions pushed oil prices higher, while a weaker jobs report added new uncertainty to the economic outlook.
From spa-inspired bathrooms to smart lighting and flexible spaces, the home improvements gaining traction in 2026 blend comfort, efficiency and design.
Most seniors want to stay in their homes as they age, but many doubt it will happen. The trend shapes housing supply, renovation demand and multigenerational living.
Associations can fine owners for violations, but the rules must be specific. A vague maintenance clause may not support penalties for a “dirty” roof.
Florida’s five largest auto insurers are indicating an average 8% rate drop for 2026. Regulators say improving market conditions could bring relief to some drivers.
Global tensions are adding uncertainty to the economic outlook, but one Federal Reserve official says interest rate cuts still make sense.
The average 30-year mortgage rate ticked up to 6% from 5.98% last week, while the 15-year rate averaged 5.43%, slightly down from 5.44% last week.
Homes near transit are gaining popularity as buyers look for walkable neighborhoods and lower transportation costs. Developers are responding with new projects.
A once-common home feature is drawing renewed interest from homeowners seeking more usable living space. Experts say demand could climb sharply.
A rejected tax return can delay your refund if you don’t act quickly. Here’s how to spot the problem, fix it and resubmit before the deadline.
FAU economists said lingering inflation and delayed data are making the Fed cautious about cutting rates, adding uncertainty that shapes spending decisions.
Housing activity across the country showed early signs of improvement in February as home values edged up and sales rose year over year, hinting at a more active 2026.
An assessment added after insurer failures will end in 2026, earlier than planned. Officials say policyholders statewide could save about $650 million.
Aging homes, rising utility bills and awkward layouts may signal it’s time for upgrades. Here are five clues a property could be due for renovation.
Two bipartisan housing bills aim to cut red tape and encourage construction. If passed, they could add more homes over time and gradually ease the tight inventory.
From pergolas to game zones, outdoor upgrades boost appeal as buyers prioritize entertaining space and expanded living areas.
Credit scores shape loan terms, insurance costs and rental approvals. Strong scores can mean lower rates and smoother closings for buyers.
From 16% in the 1980s to mid-6% today, rates tell only part of the story as higher home prices reshape affordability and financing decisions.
Many Americans are nearing retirement with little saved. Why housing wealth is drawing new attention as a possible financial cushion.
Consumer sentiment in Florida rose for a third straight month, reflecting stronger financial outlooks that can shape major buying decisions.
Some refunds were delayed because the IRS must review returns claiming certain child and income tax credits. Deposits could post soon.
New scoring models and buy now, pay later reporting in 2026 could change who qualifies for a mortgage. Agents should watch for shifts in approvals and timing.
Agents are doubling down on phone calls, open houses, farm areas and consistent personal outreach, pairing smart tech with high-touch connections for new business.
Some Progressive policyholders active on Dec. 31, 2025, are getting automatic credits averaging $300. Florida regulators secured nearly $1B in refunds.
Compass will share select off-MLS listings with Redfin under a new three-year agreement that could alter how some properties are marketed.
Florida’s Hometown Heroes used all 2025-2026 funds in six months, aiding 3,000 buyers. Continued funding remains a Florida Realtors legislative priority.
Worn or dingy carpet can quietly drag down a home’s first impression. A few smart habits can help floors look fresher before buyers walk in.
With rates shifting and 2026 changes ahead, homeowners nearing retirement face a tougher refinance call. Here’s what could tip the balance.
Agent engagement is less about office time and more about tailored leadership. Here’s how brokerages should be adapting to different production levels.
Mortgage rates are back in the 5% range, but inflation data suggests they should be rising. Here’s what’s quietly driving the drop and what it could mean next.
Florida’s Hometown Heroes used all 2025-2026 funds in six months, aiding 3,000 buyers. Continued funding remains a Florida Realtors legislative priority.
The 30-year average fell to 5.98% and the 15-year to 5.44%, a shift that could boost buyer demand, lift seller confidence and spark spring activity.
Outdoor living is in demand. See how hardscaping can improve function, manage drainage and strengthen resale appeal.
AI can automate posts, sharpen ad targeting and streamline customer replies. Learn how to use it wisely to raise engagement and return on investment.
Home inspections have limits. Before choosing to buy without one, understand what may be missed and how that decision can get expensive.
Florida Realtors’ forms now reflect new federal reporting for certain non-financed sales and updates to the Qualifying Improvements Rider. Watch the explainer video.
In Florida’s competitive market, curb appeal counts. The right plants and privacy trees can help a home stand out before buyers even step inside.
Forget viral stunts. Build a powerhouse real estate brand through small, daily habits and consistent, value-driven actions that keep you top-of-mind with every lead.
Luxury home sales jumped in South Florida, fueled by cash purchases and high-profile buyers, helping steer pricing and strategy statewide.
Confidence rose modestly in February after January’s slide, but key warning signs persist even as some consumer spending plans gain traction.
Florida Realtors committees influence advocacy, contracts and programs statewide. Learn how to apply during a Feb. 27 webinar at 1 p.m.
A mid-lease sale doesn’t automatically end your rental agreement. Here’s what tenants should know about their rights, deposits and purchase offers.
A New York judge denied Compass’s bid to block Zillow’s private-listing rule, allowing Zillow to keep enforcing one-day MLS sharing while the antitrust case continues.
From low-down-payment options to stricter inspections, the loan a buyer chooses can change everything. Here’s what to know before the offer goes in.
Fourth-quarter FHFA data show home values increased year over year, with 41 states posting gains, though growth varied and was softer in parts of Florida.
Improving affordability is giving buyers more options. In Florida and nationwide, more homes now fall within reach of median-income households, new research shows.
Rock-bottom rates, higher incomes or lower prices. Experts say the shifts needed to restore affordability are unlikely, leaving ownership out of reach for many.
A quieter approach to wallpaper is helping staged spaces stand out, adding texture and charm without taking over a room.
New data shows many homeowners faced surprise repair costs last year, forcing many to dip into savings, borrow or postpone the needed work.
Before saying yes to the address, take a closer look at pricing, commute times, neighborhood trends and the mortgage terms that fit your plans.
Instead of chasing algorithms, one expert suggests agents should flip their strategy, starting with familiar faces to drive steady business.
Florida hit a new tourism high, driven by U.S. travelers. Strong visitor numbers can buoy local markets, from short-term rentals to retail and housing demand.
A surprisingly strong jobs report just scrambled rate-cut hopes, putting March in doubt and leaving mortgage relief balanced on a razor’s edge.
Real estate licensees can be disciplined in a variety of forums, including criminal courts, administrative hearings, and local real estate boards. In the second of three articles, we’ll focus on proceedings in front of the Florida Real Estate Commission (FREC).
New construction trends hint at changing priorities, suggesting the market may be edging toward options that better align with first-time buyer budgets.
A lower price tag can hide bigger decisions. What buyers and agents should weigh before betting on a home with renovation potential.
NAR research shows about 5.5 million more U.S. households can now qualify for a mortgage compared to a year ago due to lower rates. So, what’s holding buyers back?
Older first-time buyers and affordability pressures are reshaping who can buy, what gets built and how inventory moves in 2026.
One economic signal stands between the Fed and rate cuts, suggesting mortgage rate relief could take longer than some expect.
Property managers and contractors working in pre-1978 homes may need EPA certification. Recent guidance clarifies who can be held liable.
From prioritizing safety repairs to setting aside 1% annually, smart budgeting can protect a home’s value and position sellers more competitively.
Spending on home upgrades remains strong, but growth is slowing. For agents, the shift could influence seller prep, buyer expectations and pricing conversations.
Helping someone reach a major milestone can create financial ties that last longer than expected. Make sure co-signers understand what that could mean.
Pending sales declined in the South month over month but rose year over year, signaling uneven momentum across Florida markets.
The average 30-year rate fell to 6.01% and the 15-year to 5.35%. Lower borrowing costs may draw buyers back, steady sellers and boost activity for agents this spring.
The Code of Ethics and Arbitration Manual (Manual) doesn’t list mother-in-law as a relationship that Realtors must disclose. Yet, after my mother-in-law submitted the highest offer on a property and it was accepted, the seller later filed an ethics complaint alleging that I should have disclosed our relationship. Was I wrong?
Polished listing images can win clicks, but buyers feel misled when homes don’t match in person. Some states are now requiring disclosure of edited photos.
New deductions, expiring credits and permanent caps are reshaping the homeowner tax picture, but not everyone will see the same payoff.
Single-family home building in the U.S. edged lower in 2025 compared to 2024, with the South posting declines that could shape Florida’s new-home pipeline.
As transactions get tougher to win, agents relying on old habits may fall behind. New data shows a growing gap between average and prepared.
After years of rapid gains, analysts say changing supply and demand trends could usher in a more balanced housing market in the coming year.
As customers increasingly use AI to ask full questions, agents who structure content around clear answers may stand out and win more business online.
Builder sentiment is softening while incentives persist, a shift that could influence buyer expectations and competition in new-home areas.
The Spanish-language digital issue will launch in April 2026. Members can join a waitlist for email alerts. The print and online English formats will continue.
Florida Realtors data show single-family sales up 5.9% and condos up 5.1% year over year, as new listings and pending sales rose in both categories.
Simple laundry room upgrades boost organization and usability. Buyers notice functional spaces that help homes show better and stand out in listings.
From ceramic and porcelain tile to engineered hardwood and laminate, the right kitchen flooring can boost buyer appeal before listing.
If a family member overstays a temporary visit, experts advise setting a firm deadline in writing and, if needed, pursuing formal eviction under state law.
Buyers may be able to assume a seller’s FHA or VA loan and keep a lower rate, but covering the price difference and navigating slow approvals can be challenging.
Consumer confidence, mortgage rate trends and shifts in federal policy could play a key role in shaping housing demand and pricing in 2026.
Financial experts said slowing wage growth is hitting young adults hardest. High housing costs and weaker job gains are delaying first-time buyers.
Temporary tax breaks through 2029 may help small business owners. Review SALT limits, income phaseouts and new deductions to capture savings.
First-time buyers in 2026 should focus on readiness, not rate timing. Pricing constraints remain, so early lender talks and clear budgets can help.
As the market steadies, newer agents may have an edge by focusing on fundamentals, building owned systems and tracking progress from first contact to closing.
With home prices up, more buyers are partnering with friends to afford a home. Experts urge clear planning and legal agreements.
A new report finds property insurance costs would be 14.5% higher without recent reform, stabilizing a major expense in Florida home purchases.
Not every upgrade boosts value. Buyers favor functional layouts, light and move-in ready condition, while highly personal projects often bring limited returns.
Buyers and sellers shape opinions on Reddit, TikTok and YouTube before calling. Realtors who show up where trust forms can win earlier in the decision cycle.
U.S. existing-home sales fell 8.4% in January, including a 9% drop in the South. Prices reached a January high and mortgage rates were lower than a year ago.
The 30-year mortgage rate slipped to 6.09% from 6.11% last week, while 15-year rates fell to 5.44%. Rates are expected to hover near 6% as spring buying begins.
A 600 score falls in the fair range. Buyers may face fewer loan options and higher rates, though some mortgage programs allow lower scores.
Designers say stairways can boost a home’s appeal with runners, paint, lighting or wallpaper. Simple updates can stand out in photos and help listings shine.
Wood cabinets now lead kitchen remodels, reflecting warmer design trends that can help listings feel updated, on-trend and more appealing to today’s buyers.
Buyers are delaying moves over rate and price worries. For agents, that means resetting expectations, correcting myths and stressing long-term value.
The FinCEN rule requires reports on certain all-cash sales involving entities or trusts, adding compliance duties for title companies and closing agents in some cases.
From warm neutrals to muted greens, paint trends support staging strategies that create broad appeal without overpowering a space.
Missed payments, high card balances and opening too many accounts can drag down credit. Agents can remind clients these missteps may affect loan terms and timing.
As older homeowners downsize, Realtors may see shifts in inventory, buyer profiles and pricing that affect neighborhood-level market dynamics.
NAR’s Lawrence Yun said easing rates, pent-up demand and potential policy shifts could lift sales in 2026, making staffing, training and lead strategy key for brokers.
Florida’s housing market slowed in 2025, but easing mortgage rates, steady migration and improving international activity point to early momentum.
Eligible Florida homeowners can save about $400–$600 a year by filing for homestead by March 2, 2026, while also limiting future assessed value increases.
A new study finds emojis can be interpreted very differently by audiences, creating confusion that may weaken trust, engagement and buying intent.
Seasonal shifts affect inventory, competition and leverage. Knowing when buyers gain negotiating power helps agents set expectations and tailor strategy.
AI tools are helping brokerages protect their brand, streamline operations and standardize onboarding, freeing agents and staff to focus on higher-value work.
Missing or invalid direct deposit details can temporarily freeze IRS refunds this year. Taxpayers must update bank info or request a paper check to release funds.
Credit scores across Florida slipped over the past year, raising borrowing costs for buyers and limiting refinancing or equity borrowing for homeowners.
AI can handle routine tasks for agents, creating more time for pricing, negotiations and customer care. Agents must still verify information and personalize messaging.
Ignoring early moisture reports can lead to mold, tenant health claims and higher repair costs. Owners should act fast to limit damage and liability.
With major insurance changes already in place and no new overhaul planned, buyers and sellers have clearer expectations and should price deals using current costs.
Rates on 30-year mortgages were essentially flat this week at to 6.11%, while 15-year rates inched up to 5.5%, reinforcing stable conditions for buyers and sellers.
Clearing countertops, using multifunctional furniture and adding vertical storage can help create cleaner sightlines and leave a stronger first impression with buyers.
As demands and constant communication mount, agents who make clearer choices about time, energy and routines are better positioned to sustain momentum.
From storybooks to scavenger hunts, real estate pros are finding creative ways to involve customers’ children and reduce the stress for families during the house hunt.
Census data shows diversity increases with each younger generation, a trend expected to influence housing demand as Millennials and Gen Z age into ownership.
With budgets of $500, $1,000 or $5,000, modest bedroom updates like paint, bedding and window treatments can improve how a home shows.
With budgets of $500, $1,000 or $5,000, modest bedroom updates like paint, bedding and window treatments can improve how a home shows.
Well-planned sheds can improve backyard organization and usable space, with prefab and custom options that balance storage needs, budget and resale appeal.
Top agents should be doubling down on what already works, such as reviewing past leads and focusing on fewer high-value connections, for success this year.
Home prices rose in most U.S. metros in late 2025. Florida saw some price softening tied to higher inventory, while homeowners continue to hold significant equity.
Florida’s consumer sentiment index rose in January as views of personal finances and spending improved, even as economic uncertainty persists.
Designers say staging increasingly highlights screen-free spaces, helping buyers picture rooms meant for rest, creativity and time offline.
A new survey finds 39% of Americans are more likely to move aging parents into their homes than consider assisted living or nursing facilities.
The annual Good Neighbor Awards recognize Realtors who made an extraordinary impact in their communities. Five winners will receive a $10K grant.
New HousingWire metrics point to stronger buyer activity, modest price stability and expanding inventory as early 2026 gets underway.
Tourism officials are courting Canadians as Florida visits dip, a move that could help steady demand for seasonal housing, rentals and second homes.
With prices outpacing wages and mortgage rates elevated, some owners offset monthly costs by renting rooms, co-buying with friends or creating shared living setups.
A home loan from the U.S. Department of Veterans Affairs help buyers purchase with no down payment, avoid PMI and start building equity from day one.
Strategic upgrades can attract buyers and strengthen first impressions, from fresh paint and minor updates to newer HVAC systems and better curb appeal.
Even without interest rate cuts, mortgage rates can shift with economic outlooks. Lower rates may help buyers, though supply constraints could keep prices elevated.
A new NAR survey highlights how affordability pressures, limited supply and reduced mobility are shaping buyer, owner and renter sentiment nationwide.
The Florida Chamber Foundation’s 2026 outlook points to stabilizing home prices and improving sales as the housing market adjusts after rapid growth.
Updated TVs, sound systems and lighting can boost an entertainment room’s appeal. Smart upgrades help buyers picture daily living and can strengthen a home’s showing.
Designers say homeowners who turned walk-in closets into offices may want to restore them before selling, as buyers now prize storage and livability.
A new roof can boost curb appeal, buyer confidence and deal certainty. Beyond looks, roof age can influence appraisals, insurance and financing decisions.
By skipping the perfect-home myth, first-time buyers can focus on budget, condition and location, and choose a home and neighborhood that truly fit how they live.
At NAR’s annual Policy Forum, policymakers highlighted ideas to boost home sales, including updating capital gains rules and reducing FHA red tape.
Vacant and neglected homes can attract pests, wildlife and squatters, raising health and safety concerns for neighbors and putting pressure on nearby property values.
With no immediate rate changes from the Fed, the next moves for mortgage rates may depend on economic reports and any action involving mortgage-backed securities.
Mortgage rates edged higher, with 30-year loans at 6.1% (up from 6.09%) and 15-year rates at 5.49%. Buyers and sellers are watching what comes next.
Debt-to-income ratio, savings balances and credit scores shape borrowing power, loan terms and readiness to buy a home in today’s market.
Refinancing can lower monthly payments, change loan terms or tap home equity, but fees, credit scores and timing matter when replacing an existing mortgage.
The Code of Ethics has adapted with the real estate industry for over 100 years. Updates to the Code of Ethics and Arbitration Manual go into effect at the beginning of each year. Here’s what’s new in 2026.
Members often ask about the ethical boundaries regarding interference with another brokerage’s exclusive representation. The answer is found in Article 16’s Standards of Practice.
A new compensation form replaces two prior agreements and updates how sellers and brokers offer payment in residential transactions.
The Fed left rates unchanged, citing solid growth and a steady job market. Officials want clearer progress on inflation before resuming cuts, likely later this year.
Experts warn that reusing passwords, ignoring breach notices and relying on incognito mode can expose personal data. Small habit changes can lower identity theft risk.
Focusing on buyers by behavior and interests, rather than age, gender or family status, helps agents reach new consumers while avoiding legal risks.
Confidence declined as concerns about job availability and high prices grew. Views of the labor market were the weakest in nearly five years, signaling caution on spending.
If a neighbor’s cameras point into a private courtyard, talk to them, document it, check local law or HOA rules and consult a lawyer if needed.
The Real Estate Settlement Procedures Act prohibits referral kickbacks for lenders and settlement services. Paying fair market value for real services is allowed.
Modern windows boost comfort, cut energy waste, improve security and send buyers a clear signal that a home is well maintained and built for long-term value.
AI is transforming how buyers shop, so brands should reposition to reach buyers earlier, build trust sooner and influence choices faster.
A new report shows younger generations will inherit trillions in property, driving family buying strategies, more estate sales and shifts in luxury market supply.
Tax credits reduce taxes dollar-for-dollar, but some expired for 2026. Some refundable and nonrefundable credits remain. Electric vehicle and home energy credits ended.
With jobs steady and inflation still above target, the Fed is likely to hold rates this week, signaling fewer cuts ahead for mortgage, auto and business loans.
The state’s growth is expected to moderate in coming years as in-migration slows, GDP growth cools and unemployment edges higher before stabilizing by 2034.
Florida continues to attract retirees with tax savings and lifestyle benefits, even as affordability challenges shape retirement decisions.
From photos and pronunciation to links and availability, digital business cards help you stand out, stay remembered and get contacted the right way.
Social platforms reward useful, local content. Agents who use video, planning and engagement can attract buyers and sellers organically and grow leads consistently.
Consumer sentiment climbed higher than first reported in early January, reflecting broad gains, though confidence remains well below last year amid inflation pressures.
Property managers who fail to comply with updated lead paint rules risk lawsuits, project shutdowns, insurance denial and fines up to $40,000 per violation.
Builder incentives and smaller homes are bringing new-home prices closer to resales, creating a rare buying window in some markets.
New prediction markets let users trade on where home prices are headed, sparking debate over whether crowd sentiment can meaningfully inform housing decisions.
Paying the mortgage and repairs on a home in your partner’s name may still give you legal rights, even if your name isn’t on the deed.
Nearly 1,000 Florida Realtors members met with lawmakers for GARD, hearing policy updates and advocating for the profession’s 2026 legislative agenda.
Appliance breakdowns can shape pricing, inspections and buyer perception. Knowing when to repair or replace can protect value and avoid last-minute deal issues.
Clear expectations, steady updates and visible marketing help prevent rushed price cuts and emotional decisions that can derail listings in slower markets.
NAR’s first full annual report outlines 2025 progress and 2026 priorities, aiming to strengthen transparency, finances and member services amid industry change.
The president issued an executive order to limit large investors’ home purchases and outlined plans to lower mortgage and credit card rates to expand homeownership.
Rates on 30-year mortgages rose to 6.09% from 6.06% last week while borrowing costs on 15-year mortgages edged up to 5.44%, up from 5.38%.
With Realtors driving more than most workers, 2026’s growing used-car supply, strong trade-ins and easing rates may cut costs. Experts say shop around to save.
Designers say bold, muddy or cool-toned exterior colors can hurt curb appeal and buyer perception, while warmer, muted shades tend to age better and sell more easily.
The 2016 throwback trend shows how shared memories can help brands connect with customers and create more engaging, relatable content.
Durable materials, lower utility costs and accessible design can help listings appeal to baby boomers seeking comfort, value and long-term livability.
Pending home sales fell 9.3% in December as limited inventory and seasonal factors slowed contracts. Buyer and seller traffic expectations improved for early 2026.
Eligible taxpayers with AGI of $89K or less can file federal returns early using IRS Free File. Others can start Jan. 26.
Phone numbers can shape how customers perceive and respond to a business so paying attention to spam flags, recycling and area codes matters.
New research suggests empathy and perspective-taking may matter more than prompt skills when working with AI, helping users collaborate better and boost performance.
Easing mortgage rates are also giving buyers renewed confidence and more flexibility, even as limited inventory keeps competition in check in some areas.
A new study cites low business costs, strong workforce growth and high entrepreneurship rates as key factors behind Florida’s top ranking.
Builder confidence weakened as affordability pressures persisted, yet lower rates, price cuts and incentives are giving buyers more leverage.
Older owner households are driving growth and holding homes longer, while younger households enter as renters, shaping inventory, turnover and rental demand.
Realtors are using AI to save time, but experts say posts perform best when agents add personal insight, local knowledge and an authentic voice.
Great American Realtors Days begins today, bringing members to Tallahassee to spotlight housing, property rights and tax issues for the 2026 session.
Florida Realtors: Single-family home sales were up 0.9% YoY, median prices were stabilizing and inventory levels suggested a return to normal season patterns.
During divorce, homeowners face decisions about selling or keeping a home, qualifying for a mortgage on one income and handling housing costs linked to children.
Strong remodeling activity shows homeowners reinvesting instead of selling, shaping inventory now and creating future listing opportunities for Realtors.
If there’s a strategy that could potentially cut someone’s costs by 25%, they’d be foolish not to at least consider it, a LendingTree financial expert says.
An analysis of Florida homes showed that properties located roughly a football field away from newly installed traffic noise barriers saw prices rise by nearly 7%.
Rates on 30-year mortgages fell to 6.06% this week from 6.16% last week. A year ago, the rate averaged 7.04%. Rates on 15-year fixed-rate mortgages dropping to 5.38%.
Organizing storage, deep cleaning, updating lighting and refreshing exterior details can keep a home looking polished and well cared for during winter months.
Low-cost projects like a freshly painted front door, trimmed landscaping, power washing and updated lighting can noticeably improve a home’s exterior without major spending.
Wealthy buyers in 2026 are prioritizing multigenerational layouts, privacy and flexible spaces that reflect broader lifestyle and financial planning goals.
Mortgages with rates above 6% now exceed the share below 3%, marking a post-pandemic shift as higher borrowing costs reshape homeowner behavior.
Late-year sales activity showed renewed momentum nationwide as mortgage rates eased and price growth slowed, according to the National Association of Realtors.
Designers say high-end wall-to-wall carpet made from natural fibers is gaining favor for comfort, texture and sound control in upscale, design-driven homes.
The 2026 filing season opens with the IRS expecting about 164 million returns and rolling out updates tied to recently enacted tax law changes for 2025.
Fifteen Realtors from across the state will enhance their leadership skills and learn more about Florida Realtors through a number of activities and sessions.
Designers say high-end wall-to-wall carpet made from natural fibers is gaining favor for comfort, texture and sound control in upscale, design-driven homes.
Home equity can be a powerful financial tool, but misconceptions about risk, access and borrowing options may lead homeowners to make costly decisions.
Tighter budgets, deeper AI use and audience fragmentation are pushing real estate pros to prioritize focus, consistency and clear positioning over trend chasing.
The deal brings together roughly 340,000 real estate pros and affiliate broker-owners under Compass International Holdings, with Robert Reffkin at the helm.
As children move out, some homeowners reconsider space and priorities, weighing maintenance, layout and security when planning their next home.
Higher prices and mortgage rates have pushed down payments to record levels, sparking debate over whether preserving savings outweighs putting down more upfront.
New AI features in Gmail can draft emails, answer inbox questions and flag tasks, as Google expands Gemini-powered tools.
Florida residents can apply for 2026-27 academic awards starting at $1,000. Students in any major are eligible if they submit their online application by March 6.
Planning routine upkeep helps avoid costly surprises, manage expenses over time and keep properties in strong condition for healthier indoor environments.
With higher rates and prices, house hacking is now a long-term affordability strategy, helping buyers offset costs and build equity rather than generate quick profits.
Residential construction across the nation slowed in October as housing starts fell 4.6% to an annual rate of 1.246 million. Building permits also edged lower.
Consumer sentiment edged higher in January but remains well below last year, as inflation, prices and labor market concerns continue to weigh on confidence.
NAR economist Dr. Jessica Lautz, at the Mid-Winter Business Meetings, said easing rates and uneven inventory gains are beginning to improve housing conditions.
Florida Realtors Live today features a full slate of live, 15-minute Q&A sessions online covering market trends, policy priorities, leadership and AI strategies.
Practical upgrades tied to safety and efficiency can strengthen home value, improve marketability and position sellers more competitively in 2026.
Landlords are allowing select upgrades that enhance rental appeal, strengthen long-term value and encourage lease renewals.
Florida dominated the U-Haul Growth Index, with eight cities in the top 10 and Ocala ranked No. 1 again. The state also placed second nationally for inbound moves.
Rates on 30-year mortgages rose to 6.16%, up from 6.15% last week, while 15-year rates rose to 5.46% from 5.44%.
Gmail users can quickly clear clutter using bulk delete, category tabs and search filters to remove old or large messages and free up inbox space.
Higher borrowing and renovation costs, limited inventory and rising competition are squeezing margins, pushing investors to adjust strategies, according to ATTOM.
Homes with negative equity could create openings for experienced agents, as fewer competitors and options like short sales allow for creative deal structures.
Internal Revenue Service advises taxpayers to prepare now for filing changes, including direct-deposit refunds, updated tax laws and new child savings accounts.
Visitor volumes held firm in the third quarter, led by domestic travel and continued improvement in international arrivals.
Florida Realtors’ Brad O’Connor sees easing rates steadying Florida’s market, while NAR’s Jessica Lautz points to national affordability pressures for first-time buyers.
Smart use of digital calendars helps agents reduce no-shows, improve communication and stay connected with customers through automation, reminders and integrations.
AI is being used to analyze MLS data, create charts, map customer workflows and plan local content, saving time while strengthening market visibility.
The state’s insurer of last resort shed about 541,000 policies in 2025 as depopulation and legal reforms shifted coverage back to private insurers.
Expectations improved in December, but inflation and labor market uncertainty continued to shape how Floridians view the economy heading into 2026.
AI tools can help professionals define clearer financial targets, break goals into steps and organize planning — with care around data privacy and verification.
Young buyers are pooling resources as lenders adapt, offering programs for unrelated co-borrowers and credit models that better reflect real-world payment behavior.
Down payment saving timelines have improved since 2022, falling to roughly seven years nationwide as price growth slows.
Digitally savvy, repeat buyers now dominate the market, using online research to screen agents before first contact and moving quickly once they engage.
Florida Realtors takes a member-first approach to technology, pairing practical tools with education to deliver real-world value.
The new and updated listing, leasing and compensation forms reflect MLS policy changes, current laws and local requirements, with older versions retired and replaced.
HOAs can restrict holiday decorations if its rules allow. Review governing documents, ask for clarification and work with neighbors to seek changes.
Rates on 30-year mortgages fell to 6.15%, while 15-year rates dipped to 5.44%, reflecting easing borrowing costs heading into the new year.
Pending home sales rose 3.3% in November and 2.6% year over year, with gains in all regions as improving affordability and inventory drew more buyers into the market.
Florida Realtors’ data: Single-family closed sales up 3.4%, condo sales up 1.6% YoY. “Pent-up housing demand is being unlocked,” says Chief Economist Dr. O’Connor.
The new and updated listing, leasing and compensation forms reflect MLS policy changes, current laws and local requirements, with older versions retired and replaced.
As markets normalize, agents can win more listings by leaning on local data, clearer pricing expectations and 90-day plans that build steady pipeline activity.
Delistings are rising in some markets as pricing gaps widen. Agents can keep sellers committed by setting realistic prices and staying proactive.
As markets normalize, agents can win more listings by leaning on local data, clearer pricing expectations and 90-day plans that build steady pipeline activity.
A UF statewide study finds Florida’s rental demand outpacing supply, with rising costs, shrinking affordability and growing pressure on low-income households.
Florida’s housing market slowed in 2025, but easing mortgage rates, steady migration and improving international activity point to early momentum.
The average rate on a 30-year mortgages slipped to 6.21% from 6.22% last week. Rates on 15-year mortgages averaged 5.47%, down from 5.54% last week.
Homeowners should rely on referrals, compare written estimates, hire local when possible and confirm insurance coverage before selecting a contractor.
The Fair Credit Reporting Act outlines how credit data is collected, who can access it and what rights consumers have to dispute errors and protect their information.
High-end buyers are showing growing interest in fully furnished homes, drawn by faster move-ins, simpler logistics and the appeal of turnkey living.
Emerging tech is helping agents spot buyer intent sooner, prompting timely outreach that turns interest into real conversations as 2026 approaches.
Slower price growth marked 2025 as more metros saw declines, equity borrowing increased and affordability pressures remain heading into 2026.
The Supreme Court declined to revisit an antitrust challenge involving NAR’s former optional no-commingling policy, leaving lower-court rulings in NAR’s favor intact.
If mortgage rates fall to 6%, sidelined buyers could return. Florida has already seen sales gains when rates dip, Florida Realtors Chief Economist Brad O’Connor said.
A revised condo rider lets buyers request additional association records, such as meeting minutes and insurance pages, if both parties agree in the contract.
A 1991 court ruling allows non-Realtor brokers (Thompson brokers) in Florida, Georgia and Alabama to access MLSs without joining a Realtor association.
A recent court case shows how recommending an unlicensed contractor can trigger an agent’s duty of reasonable care and lead to costly liability.
A condo board can deny a rental if its rules set a minimum credit score, as long as the policy is clear, applied consistently and not used to discriminate.
Confidence among builders improved modestly to close the year, with cost pressures and buyer affordability shaping the outlook ahead.
Lower rates are tempting, but experts say aggressive pitches, upfront fees and “too good to be true” promises should raise concern.
Slower winter demand and year-end sales targets often lead builders to offer added incentives, especially on quick move-in homes.
Stabilizing mortgage rates, cautious builder optimism and easing price growth are creating clearer signals for buyers looking ahead to 2026.
Regret among recent buyers has declined as purchase timelines lengthen, though younger buyers remain more likely to question their home decisions, Realtor.com reports.
Designers say some homeowners are rethinking open floor plans, with growing interest in defined rooms that offer more privacy, comfort and architectural detail.
First-time buyers can overlook steps that add real costs, from skipping pre-approval to underestimating expenses and making credit moves before closing.
Real estate teams are refining goals, investing in skills and technology, strengthening digital visibility and diversifying lead generation to stay competitive.
The Fed’s quarter-point cut may slowly influence mortgage rates, which are already near yearly lows, while auto loan rates are expected to shift more gradually.
Florida’s housing market remains positioned for long-term demand, with population growth and early signs of rising home sales, Florida Realtors chief economist said.
The average 30-year mortgage rate inched up to 6.22% from 6.19% last week, while 15-year rates rose slightly to 5.54% from 5.44, Freddie Mac said.
A shift toward color drenching shows renewed interest in warmer, more expressive interiors that could translate well in listing photos and online tours.
Even small rate differences can expand the number of homes within reach for buyers facing strained affordability, new research shows.
As social feeds evolve, listing graphics stand out less. Agents get more engagement with storytelling, lifestyle content and authentic video.
NAR economists project lower rates, rising inventory and a 14% sales increase in 2026, though progress will vary by market as affordability and supply differ locally.
The Fed cut its key rate by 0.25% to about 3.6% and signaled a possible pause on future cuts. The rate decrease can help ease mortgage rates, but not immediately.
Experts say sellers should focus on repairs that affect safety, function and maintenance. Strategic fixes — not luxury upgrades — help homes show better and avoid deal-killers.
Agents are leaning on calmer, psychology-based tactics to negotiate concessions, using timing, framing and high-value, low-cost trades to keep deals moving.
AI can boost efficiency, but businesses still need people to personalize outreach and close deal. Blending AI insights with human expertise delivers better results
NAR’s latest outlook points to rising demand in 2026, with Jacksonville noted for job growth, income gains and a better balance between prices and wages.
As you and your customers prep for holiday festivities, Florida Realtors offers several tips, like making sure decorations are made of fire-resistant materials.
A new survey shows buyers are focusing on design for 2026, favoring calming paint colors, flexible layouts, quality finishes and curb appeal over square footage alone.
AI platforms now help agents handle lead generation, virtual staging, customer interactions and data analysis, streamlining routine tasks and improving efficiency.
High-end homes continue to outperform the broader market nationally, with tighter supply and all-cash sales helping demand hold firm despite mixed economic signals.
A talent-focused approach, including selective recruiting, clear vision and strong culture, can help brokers build businesses that stay steady in shifting markets.
Pantone’s ‘Cloud Dancer’ is a soft white that can brighten rooms, add calm and give interiors a lighter, refreshed feel for home staging.
When refinancing, lenders want to hear your goals clearly. Be ready to explain whether you want lower payments, cash out or a new loan type.
A look back at 2025 market conditions and consumer trends is helping agents identify what worked, what didn’t and how to approach their 2026 business plans.
Delistings jumped nearly 38% as more owners stepped back nationwide, while buyers turned to affordable “refuge markets,” Realtor.com reported.
The latest outlook shows strong expectations for a quarter-point cut as the Fed reviews easing inflation and softer spending ahead of Wednesday’s decision.
A brand audit helps agents spot gaps between their online presence and real-world service, ensuring their message, visuals and customer experience stay aligned.
Consumer sentiment improved modestly this month as inflation worries eased, but the outlook remains muted, according to the University of Michigan’s latest survey.
RISMedia featured Florida Realtors for developing major real estate tech, with 2025 President Tim Weisheyer calling the group a “quiet giant” in industry innovation.
Spotting layout imbalances, harsh lighting, bare walls, low ceilings and clutter can help real estate pros stage rooms that feel cohesive, inviting and memorable.
When moving for work, renting offers time to explore a new community, while buying provides long-term stability. Research local markets before choosing a location.
AI is helping small businesses work faster, tailor marketing and expand services, while still relying on people for ideas, judgment and customer connection.
Gov. DeSantis announced 53 new projects to improve water quality, strengthen water supplies and expand the technology to detect and reduce harmful algal blooms.
National data shows record price cuts and the highest delisting rate since 2017 as affordability, flat job growth and weak demand keep the housing market sluggish.
Rates on 30-year mortgages slipped to 6.19% from 6.23% last week, close to its lowest point this year. Borrowing costs on 15-year loans averaged 5.44%.
Commercial customers are prioritizing efficiency and air quality, while more owners are repurposing buildings to cut costs and add value, NAR found.
The IRS is urging taxpayers to prepare early for 2026 filings as new rules change deductions, credits and refund methods, including a shift to direct deposit.
A new study shows wellness-minded design is spreading, with more homes adding cleaner air systems, nature access and efficient materials.
A new survey shows Americans want large, single-story homes in great locations, but rising costs mean most opt for smaller, older properties.
Buyers are still searching during the holidays. Simple decor, warm touches, good lighting, smart scheduling and strategic pricing can help your home stand out.
Realtor.com’s 2026 forecast points to a steadier market as easing mortgage rates, rising incomes and growing inventory offer affordability gains and more buyer choice.
Commercial lending gained ground in Q3 as rates held steadier and spreads narrowed, signaling wider borrower confidence heading into 2026.
Luxury housing held balanced conditions in October as sales climbed, inventory grew and pricing stayed firm, signaling a stable market moving into late 2025.
A new analysis shows homeowners are moving toward smart-tech, flexible layouts, sustainability and homes built for life in 2026.
A simple weekly routine for content planning helps agents map themes, draft quick posts and pair visuals, making it easier to stay consistent online.
A broker at NAR NXT shared how couples who run real estate firms can stay aligned by dividing the mental load, holding clear talks and focusing on each other’s needs.
Simple touches like citrus, herbs and pantry items are reappearing in home design, adding color and warmth when used sparingly and styled with a curated, modern feel.
Simple touches like citrus, herbs and pantry items are reappearing in home design, adding color and warmth when used sparingly and styled with a curated, modern feel.
Metal building homes and barndominiums are growing in popularity as buyers seek faster, cheaper construction and flexible layouts.
Most buyers now consider walkability essential. The younger generations are willing to pay more for homes near shops, services and daily conveniences.
New data shows bathrooms are the most-viewed rooms in 3D tours, prompting more brokerages to invest in full digital twins to meet rising buyer expectations.
The average premiums barely moved in Sept. Some insurers showed declines. Analysts say quieter storms and lower reinsurance costs could help moderate future rates.
Rates on 30-year mortgages fell Wednesday to 6.23% from 6.26% the previous week. Borrowing costs on 15-year fixed-rate mortgages fell to 5.51%.
A new report shows tourism added $133.6B to Florida’s economy last year, supported 1.8M jobs and produced $33.6B in tax revenue that eased household costs.
Citizens’ policy count has fallen to about 439,000 and is projected to reach a record low by year-end as more policies shift to private insurers.
Updating the books, trimming unused subscriptions, meeting agents and setting targets now can help brokerages start 2026 with cleaner data and clearer focus.
The 2026 conforming loan limit rises to $832,750. Florida Realtors chief economist says the move broadens conventional financing opportunities for Florida buyers.
An analysis finds accessibility issues on the average webpage expose businesses to ADA lawsuits, compliance risks and lost revenue tied to inaccessible sites.
Many Realtors think they have a good handle on Professional Standards. Most of it’s just common sense, right? Test your knowledge and have a little fun with this Professional Standards quiz game – Locate That Phrase!
Designers say layered task, accent and ambient lighting can make rooms feel larger and more welcoming for a simple staging strategy that instantly boosts appeal.
Home prices across the U.S. climbed 2.2% year over year, FHFA reports. Many states and metros saw gains, while quarterly growth was modest and September was flat.
A new Realtor.com report shows the new-construction price premium at a record low as builders use incentives to lower rates and down payments for buyers.
Americans expressed concerns about inflation and slower hiring while views of the labor market turned more negative, contributing to a decline in overall confidence.
NAR said pending sales rose monthly in the Northeast, Midwest and South and fell in the West. Year-over-year gains appeared only in the Midwest and South.
NAR’s new FAQs explain how local MLSs can apply the 18 handbook updates. In Florida, non-members have long had MLS access.
Debt falls on a spectrum. Mortgages and student loans can build long-term value, while high-interest credit cards and payday loans can strain budgets if not repaid quickly.
More buyers are choosing townhomes as they prioritize affordability and lifestyle fit over large suburban homes, according to an economist.
In a world drowning in content, the real competitive edge is showing up online as your real self — not a polished imitation, says a personal brand strategist.
AI tools now influence how consumers discover agents. Consistent bios, reviews and fresh local content help real estate pros appear in generative search results.
NAR’s new FAQ explains how local MLSs can apply the 18 handbook updates. In Florida, non-members have long had MLS access.
A long-standing fence dispute could raise issues for sellers. An expert says confirm the survey, explore agreements, consider legal options and disclose to buyers.
NAR is launching short trademark-education videos to help members and associations use the Realtor marks correctly and preserve the brand’s legal strength.
Rental listing scams are rising, with hijacked and phantom posts using real agents’ photos and identities. Protect yourself by learning the risks.
Adults age 23 to 28 are outpacing earlier generations by using incentives, builder deals, family help and affordable markets to purchase homes sooner than expected.
High prices and softer incomes kept households on edge in November, even as short- and long-term inflation expectations eased, the University of Michigan said.
Real estate pros who understand the basics of the mortgage interest rate deduction can help customers make choices that align with their financial goals.
Podcasting can help real estate pros broaden their brand. Clear audiences, consistent formats and strong promotion drive growth and exposure.
In a new podcast, Nykia Wright outlines how NAR is rebuilding trust, strengthening operations and executing its new three-year Strategic Plan.
Rates on 30-year mortgages ticked up to 6.26% from 6.24% last week, while borrowing costs on 15-year mortgages averaged 5.54%, up from 5.49% last week.
With more Americans planning to age in place, demand is rising for warm, unobtrusive accessibility upgrades. Buyers increasingly want stylish, age-ready home features.
Only 8% of recent buyers feel they overpaid, down from 15% in 2023. Realtor.com said today’s slower market is giving shoppers more time to make deliberate decisions.
Buyers took advantage of lower mortgage rates, lifting sales and pushing prices higher for the 28th straight month as supply edged down.
Florida Realtors Chief Economist: Positive trends over the past months appear to be continuing, even considering the disruption caused by last fall’s two hurricanes.
Homeowners have several ways to stay current on mortgage payments, from online portals to mail or phone. Extra payments can also shorten the loan term.
FAU’s latest poll shows 80% of Americans are concerned about housing costs, yet many remain hopeful about future opportunities despite rising everyday expenses.
A sharp divide among Fed officials has made a December rate cut uncertain, which could ultimately influence mortgage rates and keep borrowing costs elevated.
More than half of U.S. adults say Thanksgiving hosting influenced their latest home search, with Gen Z and millennials most likely to prioritize big kitchens and gathering space.
NAR’s 2025 Profile of Real Estate Firms finds most are concerned about housing affordability and rising business costs, even as more expect stronger profitability.
New research shows 47% of renters think they’ll be ready to buy within four years, with modern credit tools helping ease concerns about qualifying.
The 2026–28 plan introduces 24 initiatives to modernize operations, reinforce professionalism, drive legal protections and promote property ownership.
Economic uncertainty, tech shifts, slower population growth and rising portfolio risk will define commercial real estate in 2026, NAR said.
Once implemented, the project is expected to return more than 40 million gallons of water per day to the Floridan aquifer system.
Economic headwinds, including the government shutdown and inflation concerns, left builders facing soft demand as price reductions reached a post-COVID high.
After a major risk assessment, NAR repealed its rule requiring membership for MLS access and clarified local control.
Chimineas, fire pits and outdoor fireplaces are becoming popular upgrades, offering warmth and visual interest that can elevate a home’s backyard appeal.
Artificial intelligence streamlines tasks like emails, reports and listing copy. Agents who ignore these tools may fall behind peers who use them well, an expert said.
By listening first and understanding concerns, leaders set the tone for teams that connect well with buyers and sellers in every market.
NAR economists predict home sales will climb in 2026 as mortgage rates ease, buyer demand strengthens and price growth continues despite uneven market conditions.
Following a risk assessment of the association’s multiple listing services policies, the National Association of Realtors approved updates to its MLS handbook.
Community associations can prohibit feeding ducks if it leads to pests, messes, or other issues. Their rules often allow limits on wildlife feeding to protect shared spaces.
Low-interest loans are now available for damaged homes, businesses and nonprofits in six Florida counties hit by the Oct. 26 storms.
The IRS will allow workers to contribute more to 401(k), 403(b), 457 plans and IRAs in 2026, including higher catch-up amounts for people 50 and over.
Community associations can prohibit feeding ducks if it leads to pests, messes, or other issues. Their rules often allow limits on wildlife feeding to protect shared spaces.
Experts say today’s “revenge saving” mirrors the extreme budgeting sometimes seen when buyers save for a down payment, as Americans shift from post-pandemic splurging.
Marketplace listings can work for rentals, entry-level homes or luxury properties, with quick responses to messages being key to turning comments into customers.
Rates on 30-year mortgages ticked up to 6.24% from 6.22% last week, while 15-year rates averaged 5.49%, down from 5.5% last week, Freddie Mac said.
Owners are embracing bold, highly personal design in late 2025, from vivid colors to textured finishes, even as neutrals are expected to return in 2026
Inflation, missing economic data and signs that companies plan to raise prices are raising doubts about whether the Fed will move forward December rate cut.
A six-step open house strategy stresses staging, clear signage, warm engagement and prompt follow-up to create meaningful connections and win new customers.
Federal housing programs are resuming after the shutdown ended, restoring FHA, VA, USDA and NFIP activity. Closings may still see delays due to backlogs.
From color and texture to scent and sound, homeowners are using all five senses to create spaces that feel personal, nostalgic and alive.
Adjustable-rate mortgages made up about 10% of all mortgage applications in September, the highest share in nearly two years and well above the post-2008 average of 6%.
Fannie Mae is dropping its 620 minimum credit score rule, giving lenders more flexibility to assess borrower risk without changing core loan standards.
Agents who tailor holiday marketing for AI-driven searches, mobile users and shareable local content can stand out and turn seasonal interest into new clients.
Fewer homeowners are completing a For Sale By Owner transaction and are heavily turning to real estate agents for guidance, NAR found.
Experts say the best home staging starts with a focal point, showcases light and room flow, and helps buyers picture living in the space day to day.
Realtor.com says sustainability and smart-home tech define 2025, with WaterSense fixtures, EV chargers and indoor-outdoor design among the fastest-rising features.
Some financial planners say paying off a low-rate mortgage early can backfire. Investing or saving instead may build more wealth and provide better flexibility.
A new survey found 71% of aspiring homeowners are postponing major life steps, including marriage, children and career changes, until they can afford a home.
Some agents avoid lead-gen calls due to fear or burnout, but small daily goals, training and accountability can boost confidence and steady growth.
A new compromise could end the nation’s longest shutdown by the end of the week, restoring housing, loan and food programs and pay for federal workers.
Holiday lights and décor boost curb appeal, but experts urge safety. Use outdoor-rated products, avoid staples and overloaded circuits and plan displays wisely.
The University of Michigan’s consumer survey found sentiment fell to a three-year low of 50.4 as the shutdown dragged on, with rising pessimism about jobs and finances.
Underutilization of VA loans delays homeownership, especially in high-cost markets and areas where veterans may not know about their benefits, new research shows.
Even experienced agents make growth-blocking mistakes. Experts say embracing AI, branding and proactive communication can turn it around.
Housing officials said the White House is developing a 50-year mortgage option to expand affordability as home prices and adjustable-rate loans rise.
Careful planning, clear communication and realistic expectations can help homeowners avoid stress, safety issues and costly surprises during a remodel.
Buyers and sellers are more informed now. Today’s agents must pair market insight, storytelling and strategy to deliver value that stands out across markets
Falling rates, higher inventory and motivated sellers make late 2025 one of the best times for buyers to secure favorable deals before spring prices rise.
More than 600 agents described how the federal shutdown has delayed loans, halted flood insurance renewals and stalled home sales nationwide.
The average rate on 30-year mortgages moved up to 6.22% from 6.17% last week. Rates on 15-year mortgages rose to 5.5% from 5.41%, Freddie Mac said.
AI tools like ChatGPT are changing how buyers search for homes. Agents should keep profiles current and share conversational, local posts to stay part of the search.
With first-time buyers at a record low of 21%, NAR urges all levels of government to adopt policies that expand ownership and boost housing supply.
Experts say there are ways buyers can trim mortgage costs and make ownership more affordable, including comparing lenders and exploring VA, FHA or USDA loans
Key steps, from locating shut-off valves to budgeting for repairs, can help new homeowners stay safe, save money and avoid costly surprises.
Many homeowners misunderstand how equity works, from what it is to how much they can borrow and what that really means for their finances.
UF researchers report Florida’s consumer sentiment fell for a fourth month in October, reflecting weaker views on finances and the national economy.
Agents are embracing “digital door knocking,” using genuine online conversations, comments, messages and polls to build trust and attract new clients.
NAR research also shows the typical first-time buyer is now 40, repeat buyers average 62 and 88% of all buyers used an agent or broker.
A federal appeals court upheld Florida’s law restricting property purchases by most Chinese nationals. Judges said challengers lacked standing and rejected other claims.
Slide Insurance will pay a $250K fine after regulators said it used adjusters not properly appointed and failed to include required disclosures after two major storms.
Even in a tech-driven market, referrals, integrity and consistent follow-up keep agents thriving. Experts say blending tradition with tech drives success.
The Sunshine State once again ranks as the best state to retire, thanks to its warm climate, coastal lifestyle and lack of state income, inheritance or estate taxes.
Design experts say classic materials, balanced layouts and elegant lighting choices can elevate kitchen appeal and boost resale value.
NAR research also shows the typical first-time buyer is now 40, repeat buyers average 62 and 88% of all buyers used an agent or broker.
Mentorship bridges generations, builds confidence and shapes future leaders, creating a ripple effect of growth and connection across workplaces.
After torrential rain and flash flooding damaged homes and businesses in Brevard and Lake counties, Florida Realtors opened its Disaster Relief Fund to aid recovery.
The longest full government shutdown in U.S. history is delaying sales and could lead to catastrophic risk for homeowners and businesses in flood zones, NAR said.
Experts say wellness-focused homes, designed for light, air, safety and accessibility, can help residents live longer while strengthening property values.
Higher prices and rates are driving demand for in-law suites, which offer privacy, shared costs and independence in multigenerational living arrangements.
When a neighbor’s sprinkler floods your property, they may be liable for damage. Experts say to document the issue and consider legal action if it continues.
Homeowners staying put should focus on projects with strong resale value — like kitchen, bath and flooring updates — and avoid overly personalized upgrades.
Digital expert Alex Montalenti says agents who update their Google Business Profile with reviews, photos and consistent info can boost visibility and free leads.
State Farm and other insurers cite Florida’s stabilizing market and lower litigation costs as auto insurance rate cuts continue.
Real estate licensees can be disciplined in a variety of forums, including criminal courts, administrative hearings and local real estate boards. In the first of three articles, we’ll focus on criminal proceedings.
Pres. Weisheyer met with the Japan-America Real Estate Coalition in Tokyo this week – the agreement opens more opportunities for Realtors in both countries, he says.
Florida Realtors members can register for 2026 insurance coverage through the Health Plan Navigator by Venteur when open enrollment begins Saturday, Nov. 1.
The rate on 30-year mortgages dropped to 6.17% from 6.19% last week, while the rate on 15-year mortgages fell to 5.41% from 5.44%, Freddie Mac said.
A home’s quick resale history might raise concerns, but experts say it often reflects life changes, not red flags.
Jerome Powell said another rate cut at the Fed’s December meeting “is not a foregone conclusion,” citing uncertainty from the shutdown and mixed data.
Pres. Weisheyer met with the Japan-America Real Estate Coalition in Tokyo this week – the agreement opens more opportunities for Realtors in both countries, he says.
Florida Realtors members can register for 2026 insurance coverage through the Health Plan Navigator by Venteur when open enrollment begins Saturday, Nov. 1.
The Federal Reserve lowered its key rate by 0.25 points to 3.9%, its second rate cut this year and a move that could gradually lower mortgage rates.
VA loans offer sellers dependable buyers and give buyers lower rates, limited fees, no PMI and built-in protections for appraisals and safety.
Citizens had 569,495 policies as of Friday, down from 768,643 policies a week earlier, as the depopulation program continues.
U.S. consumer confidence fell slightly as concerns about inflation and future job prospects grew, signaling continued unease about the economy.
Pending home sales held steady in September, with the South leading regional gains, NAR said. Inventory hit a five-year high as mortgage rates trended lower.
Wet rooms are rising in popularity, now featured in 16% of bathroom remodels, as homeowners seek spa-like designs, better accessibility and timeless, neutral styles.
Business credit card fraud is rising fast as smaller companies are targeted. Protect your business by using virtual cards and real-time monitoring.
U.S. house prices rose 2.3% year over year, the FHFA reports. The South Atlantic region, including Florida, saw a 0.7% monthly gain.
Even after a Fed rate cut, many sellers hesitate to list. Agents can focus on equity gains, lifestyle goals and creative financing to help them move forward.
More than 70 million Americans are 65+, and baby boomers now lead both buying and selling, driving trends in downsizing, aging in place and multigenerational living.
Florida’s Fair Housing Act, enacted in 1983, prohibits housing discrimination based on race, sex, religion, disability, family status and other protected classes.
Vacant land is the top target for title fraud, as scammers forge deeds to sell properties they don’t own. New alerts and safeguards aim to curb the trend.
The Supreme Court declined to hear a floorplans copyright case, upholding a ruling that found their use in listings is fair use, ending seven years of litigation.
A homeowner isn’t liable for damage from healthy tree roots, even if the tree was planted by the developer. Neighbors may trim encroaching roots at their own cost.
Small, affordable updates, like fresh paint, tidy gardens and lighting, can instantly improve a home’s first impression and strengthen its resale value.
Realtor.com’s analysis of two million loans also shows improving a credit score and boosting the down payment can offset market factors in shaping mortgage costs.
Mortgage rates eased as the Federal Reserve considers another interest rate cut this month, balancing inflation concerns with slowing employment growth.
Agents value brokerages with strong leadership, integrity and coaching-focused cultures. Real-time communication, accountability and goal-based training drive success.
FinCEN postponed its new rule requiring reports on cash home sales to businesses and trusts until March 1, 2026, giving the industry more time to comply.
Real estate is rewarding, but it comes with risks. Use safety protocols, including Forewarn, help you stay protected while serving customers with confidence.
Small, meaningful pop-by gifts help agents stay connected with past customers, show appreciation and encourage referrals without feeling overly promotional.
Inflation and high prices remain top concerns, with little change in how consumers view their finances or the overall economy, according to the University of Michigan.
AI tools can help agents build business plans, write marketing content and streamline operations when used with detailed, well-crafted prompts.
The average 30-year mortgage rate fell to 6.19% from 6.27% last week, while 15-year rates dropped to 5.44% from 5.52% last week.
Florida Realtors Chief Economist: Driven in part by recent lows in mortgage rates, Sept. existing single-family home sales up 13.6% YoY; condo-townhouse sales up 8%.
Rising rents and stagnant wages have pushed more young adults to live with their parents—up 6.3% in a decade—as affordability and housing supply tighten.
Homes with pre-sale improvements sell 72% faster, experts say, as agents focus on helping sellers boost appeal and profits instead of chasing new leads.
Progressive will issue refunds to its Florida auto policyholders, averaging $300 each, after insurance reforms cut losses. Other major insurers may soon follow.
In the South, existing-home sales climbed 1.6% in September and nearly 7% year-over-year, outpacing other regions as lower mortgage rates improved affordability.
With rate cuts expected, homeowners weigh HELOCs for flexibility or fixed loans for stability as they consider tapping record home equity levels.
A new roof can raise your home’s value, improve curb appeal and reduce energy costs, often paying off more than interior upgrades like kitchen remodels.
A new survey finds neighbor connections vary sharply by generation, and experts say those bonds, or lack of them, can shape community stability and home values.
Many new agents announce their careers, then fade from view. Experts say success comes from visibility and showing up consistently.
NAR says it supports new technology like Zillow’s ChatGPT integration as long as it follows MLS rules and data license agreements.
Latinos now make up 20% of the U.S. population, showing continued growth in both population and workforce participation that could shape future housing trends.
Identity theft reports topped 1.1 million in 2024, with losses over $43 billion. Lock down personal data by limiting online sharing and tightening privacy settings.
Baby boomers own 41% of U.S. real estate – twice that of millennials – reflecting decades of price growth and tougher entry for younger buyers.
Spending less on ads can yield better results. One expert says cutting waste, auditing expenses and improving conversions drive sustainable real estate growth.
The Supreme Court declined to review a case against NAR’s former “no commingling” rule, letting stand rulings that supported NAR’s position.
Sheds can store gear or become functional spaces. Choose the right type, size and materials for your needs, and check local laws before building.
Realtor.com reports the median Q3 2025 down payment held near $30,400, unchanged year over year as high prices and borrowing costs kept buyers cautious.
Single-family mortgage volume could reach $2.2T in 2026 as lower rates, stable prices and growing inventory fuel more home sales and refinances, the MBA said.
Confidence is built through small, daily wins that replace doubt with calm authority, helping Realtors strengthen client trust and maintain steady momentum.
The government shutdown has paused new flood insurance policies, creating challenges for Florida buyers and sellers and delaying some home sales.
As search habits shift to AI tools, agents should target ready buyers and sellers through local expertise, strong calls to action and multimedia content.
Real estate buyers and sellers are facing increasing uncertainty and delays. The wider economic impact will be significant if Congress doesn’t come together, NAR said.
Every click leaves a trail. Experts warn digital clutter exposes users to scams and privacy risks. They urge regular cleanups and tighter online security.
Until a sale is finalized, the legal owner could face damage, liability or deal complications if the buyer occupies the property early. Consult an attorney first.
Effective cold email subject lines are personal, concise and relevant. Try testing different styles and avoiding clickbait to drive higher open rates.
The average rate on 30-year mortgages rate slipped to 6.27% from 6.3% last week, while 15-year rates dropped to 5.52% from 5.53%.
Combining the 5/25 Rule’s ruthless prioritization with the Pomodoro Technique’s focused work sessions helps professionals make real progress on what matters most.
Builder confidence reached its highest level since April as builders grew more optimistic about future sales and a stronger market ahead.
Realtors can stand out online by defining a clear, human brand voice rooted in their values while showing personality, consistency and authenticity across every post.
When dealing with noisy neighbors, start with a polite talk, document issues, involve a landlord if needed and use tools like earplugs or white noise.
Two thirds of Gen Z respondents see homeownership as a lifetime goal and plan to make their first or next home purchase in the next 6 years.
Fed Chairman Jerome Powell indicated more rate cuts are likely this year — a move that could push mortgage rates lower in the months ahead.
Hiring a professional tree service boosts curb appeal by safely removing or trimming trees, protecting property and handling cleanup for attractive landscaping.
AI is transforming commercial real estate by boosting productivity and uncovering data insights to streamline analyses and free agents for strategic, high-value work.
Introverted real estate agents can thrive by focusing on deep connections, authentic social media use and personalized direct mail campaigns.
Designers say homeowners are embracing jewel tones, layered textures and personal touches — ideas that can also inspire seasonal home staging.
Borrowers can compare lenders without damaging credit by getting prequalified, shopping within 45 days and delaying new credit applications until after closing.
Falling mortgage rates could save home buyers more than $1,000 in interest annually if they compare options among various lenders, a new study finds.
Real estate professionals who build a recognizable brand gain trust, visibility, and referrals, reducing constant chasing and creating long-term stability.
The bipartisan ROAD to Housing Act won unanimous support, advancing policies for new home construction home loan guidance and disaster recovery.
NAR CEO Nykia Wright emphasizes transparency, accountability and stronger member engagement to strengthen confidence and guide Realtors through industry changes.
From AI voice scams to synthetic identities, 2025 brings new, frightening ways criminals steal personal information, making vigilance more critical than ever.
Adapting to AI doesn’t mean overhauling everything you do. Instead, it’s about making small shifts that add up to significant results.
The small drop in mortgage rates has fueled an 80% surge in refinancing, as millions of homeowners rush to cut monthly payments.
Housing experts forecast home prices growth nationally to average 2.4% in 2025 and 2.1% in 2026, representing revisions from last quarter’s expectations.
Homeowners affected by Hurricanes Debby, Helene, Idalia, Milton or the May 2024 tornadoes can apply for funding to repair, replace or rebuild damaged homes.
Light up the curb appeal with holiday decorating. Hiring a pro can boost safety and reduce stress. Costs vary by home size, bulbs and display complexity.
AI-generated content often has a formal tone, repetitive phrasing and symmetrical structure. Always use a human editor to refine AI writing.
An $84T–$124T wealth transfer from boomers to millennials could reshape cities as younger owners favor sustainability, walkability and mixed-use design.
Citizens Property Insurance Corp. ended last week with about 769,000 policies, showing little change as private insurers continue assuming policies.
U.S. remodelers remain optimistic as the market stays positive, though growth is moderating amid high costs and cautious customer demand.
A new survey found 82% of Americans use AI like ChatGPT and Gemini for housing insights, but agents remain the most trusted information source.
Fed minutes show most officials backed a September rate cut, noting rising unemployment risks and easing inflation, a move that could gradually lower mortgage rates.
Rates on 30-year mortgages slipped to 6.3% from 6.34% last week, while rates on 15-year mortgages dropped to 5.53% from 5.55% last week.
Ranch homes are rising in popularity, up 44.7% in six years, as buyers seek single-level layouts, modern updates and enduring resale value.
Direct mail marketing can connect agents with customers through tangible items like letters, flyers and branded gifts to boost engagement and ROI.
Consumers are using AI to find local agents, so a strong digital presence, including an updated profile and positive reviews, are essential for visibility and trust.
Nearly 50% of mortgaged homes in the U.S. are equity-rich, creating potential opportunities and considerations for real estate professionals in a fluctuating market.
A government shutdown can disrupt services like flood insurance and FHA approvals. Advocacy Scoop discusses how NAR is responding to protect transactions.
Citizens is allowing policyholders to defer flood insurance paperwork after the federal shutdown paused the National Flood Insurance Program.
Upgrading outdoor spaces with comfy seating, lighting and indoor-outdoor flow boosts enjoyment and resale value, making homes more sale-ready.
A strong, consistent brand helps small businesses stand out, build trust and turn every customer interaction into loyalty and long-term growth.
A Realtor.com analysis shows cash buyers thriving at the high and low ends of the market as financed buyers remain concentrated in the middle.
Pet-friendly features like dog parks, grooming stations and nearby vets are winning over Florida buyers. Agents can highlight communities for both people and pets.
The state topped Lightcast’s 2025 Talent Attraction Scorecard for the third time in a decade, driven by its focus on workforce education and high-demand job training.
Simple upgrades, including brighter lighting and grab bars, can help seniors stay and make a home more appealing to buyers seeking aging-in-place features.
The generation born between 1997 and 2012 is focused on buying homes in smaller, more affordable cities that prioritize walkability and community.
Younger real estate leaders are embracing social media, lifestyle design and sustainability to meet evolving buyer expectations and modernize the industry.
The Fed’s rate cut is expected to lift commercial real estate, paving the way for more office-to-apartment conversions, new lending and additional sales.
A new survey finds buyers are prioritizing wellness, flexibility and community over square footage, embracing smaller homes with modern, eco-friendly features.
When a condo board removes hurricane windows during renovations, owners should document, check bylaws and seek legal advice to recover costs.
Florida’s top CEOs report higher optimism than national peers in Q3 2025, with stronger hiring and investment outlooks, signaling confidence in Florida’s economy.
Volume alone won’t sustain a real estate career. Brokers must guide agents toward financial literacy and lasting profitability.
The National Association of Realtors released guides on private mortgage insurance, home selling safety and wire fraud to help homeowners make informed decisions.
Homes in Florida face mold risks from storms, leaks and humidity. Experts urge quick drying, careful research and trusted pros for safe cleanup.
Make any home shine with expert decorating tips: choose a theme, highlight key spaces, start with lights and keep arrangements simple for staging and curb appeal.
Agents succeed on social media by building a consistent content lane. Focused topics, recurring formats and a clear perspective build trust and customer confidence.
Nearly 1 in 5 homeowners now have 6%+ mortgages, the highest in a decade. Only 53% have rates below 4%, down from 65% in early 2022.
A quarter of homeowners (25%) have shelled out at least $1,000 dealing with bad neighbors, so good neighbors are a top priority for buyers.
The rate on 30-year mortgages rose this week to 6.34% from 6.3% last week, while the 15-year rate rose to 5.55% from 5.49% the previous week
The National Flood Insurance Program expired, freezing new policies and potentially delaying mortgages, home sales, and housing programs, especially in Florida.
Rising homeownership among Black women reflects growing financial independence, education gains and determination despite persistent barriers.
NAR’s Realtors Residential Sustainability Report finds that homebuyers and owners are interested in sustainable features that provide financial savings.
Consumer confidence declined in September as views on business conditions and the job market grew less positive, while concerns about inflation increased.
Consumer sentiment in Florida dipped in September for the third month but remains well above the lowest levels observed in 2022.
The state’s business rent tax has officially been repealed after decades of advocacy by Florida Realtors, saving commercial tenants $2.5 billion annually.
At the Realtors® Legislative Meetings in Washington, NAR made multiple revisions to the Code of Ethics and Arbitration Manual that were effective on June 5, 2025, including changes to 11 Standards of Practice (SOP). But that’s not all — there were several other changes made to the Code of Ethics and Arbitration Manual the same…
Fraudsters are cloning title company websites and posing as sellers to steal escrow funds. Realtors should verify sellers, avoid rushed closings and report fraud.
Recurring condo water damage from common elements, such as an association-maintained AC, may make the association liable. Document damage and act quickly.
NAR highlights why brokerages need a social media policy to ensure legal compliance, protect reputations and uphold ethical standards online.
Effective Oct. 1, 2025, the state requires updated flood disclosures for home sales and rentals, including all flooding and repair assistance received.
Costs for home repairs and remodeling rose 3.4% year-over-year in Q2, driven mainly by labor costs, surpassing overall inflation.
U.S. home prices fell 0.1% in July but rose 2.3% year over year. In the South Atlantic division, prices were flat monthly, up 0.8% annually.
Twenty-five cities and counties sued over SB 180, saying the law freezes local growth rules through 2027, violates home-rule authority and limits planning autonomy.
The forms reflect recent law and policy changes, including expanded flood disclosures and adjustments to NAR’s Multiple Listing Options for Sellers.
Expert Michael Nizich advises using strong passwords, multifactor authentication, credit locks and password managers avoid scams and safeguard your information.
Real estate professionals who adapt social media strategies and combine them with personal outreach maintain steady leads despite market shifts.
Mortgage rates rose last week despite the interest rate cut, but experts remain optimistic as more inventory and strong markets could boost home sales soon.
Contract signings went up on lower mortgage rates nationwide. In the South, they rose 3.1% in August and were up 4.2% compared a year ago.
NAR identified eight programs that could be affected if Congress misses the Sept. 30 deadline, including home loans, flood insurance and housing services.
Tools, such as AI and automation, can widen reach and improve efficiency, but they don’t replace human connection. Long-term growth depends on empathy.
At the 2025 Florida Realtors Convention, real estate pros learned about new laws, disclosures, and standards that bring broad changes to daily practice.
U.S. consumer sentiment fell 5% in September as high prices and weaker economic expectations weighed on outlooks, though inflation expectations eased slightly.
A fall refresh with seasonal decor can add instant curb appeal. Sellers should view their entryway with a buyer’s eye to present a desirable lifestyle.
Home-flip returns dropped to 25.1% in Q2, the lowest since 2008, as higher home prices raised purchase costs while sales levels held steady.
The Miami Real Estate Forum 2025 highlighted Florida as a premier U.S. property market, with experts naming South Florida among the nation’s strongest.
Inflation-based tax bracket hikes for 2026 may boost take-home pay, giving first-time buyers more room to save for down payments and qualify for loans.
By showing teams real AI uses, leaders can ease fears and integrate it into workflows while keeping users in control, positioning AI as a helpful partner.
Rates on 30-year mortgages rose to 6.3% from 6.26% last week, while borrowing costs on 15-year mortgages increased to 5.49% from 5.41%.
Existing-home sales slipped 0.2% in August from July, as prices rose 2% to a median sales price of $422,600. The median time on the market was 31 days nationwide.
A SmartRent survey found 92% of renters say cutting utility costs matters. Last year, 63% saw bills rise; less than half say property managers communicate or care.
Stage homes with polka dots, jewel tones and retro pieces for the fall, layering color, curves and personal touches to create warm, inviting spaces.
Agents should provide appraisers with surveys, upgrades and market insights while verifying credentials and being present during the visit.
Fannie Mae projects mortgage rates to fall to 6.4% by late 2025 and 5.9% in 2026, with rising home sales and mortgage originations over the same period.
Sales of newly built single-family homes jumped 20.5% higher in August across the U.S. and 3.3% in the South. The median new home sale price in the U.S. was $413,500.
Chief Economist O’Connor: New pending sales for both existing single-family homes and for condos-townhouses rose YoY, likely due to falling mortgage rates last month.
By choosing cozy seating, adding ample places to sit, using warm neutral paint and bringing in plants and natural light, a living room can feel warm and inviting.
Explore HELOCs, cash-out refis, loans, government programs and contractor financing to cover home upgrades while protecting your finances.
A growing number of Gen-Z buyers are pooling their finances with friends to buy homes. Experts recommend clear written agreements to handle costs and future changes.
AI-made videos and audio now fool even experts. Protect yourself and your business by using online detection tools and learning to recognize the red flags.
Gutters protect the roof and home. Cracks, rust, pulling away, pooling water or water damage inside the home are signs it’s time to replace them.
Experts say RE myths, like needing a 20% down payment or assuming renting beats buying, aren’t true and are leaving potential buyers confused.
Real estate agents can leverage AI to enhance listings, personalize marketing, save time and stay visible as buyers increasingly rely on AI tools.
Avoid deal delays by ordering reports early, verifying ownership, checking liens and coordinating with title professionals from listing to closing.
The all-stock transaction brings together about 340,000 agents globally in every major U.S. city and serving about 120 countries and territories.
When HOAs reverse earlier landscaping approvals, mediation is key. Courts differ on whether the homeowner or HOA covers the cost of restoration.
The key to reviving your office is creating a culture and space agents truly want to return to by offering value, connection, support and fun.
The two new companies are the 16th and 17th to enter Florida’s market since legislative reforms were enacted in 2022 and 2023.
Tax breaks for some home upgrades, solar panels and electric vehicles end soon, some as early as Sept. 30. Homeowners and buyers need to act fast to lock in savings.
It’s the 5th year in a row for The Orlando Sentinel’s Top Workplace in Central Florida honor, based on blind workplace culture surveys by employees.
The average rate on a 30-year mortgage fell to 6.26% from 6.35% last week. Borrowing costs on 15-year fixed-rate mortgages slipped to 5.41% from 5.5%.
Smart thermostats, appliances, lighting, and digital assistants make home automation easy, letting you control temperature, lights, and more remotely.
Ten insurers have been approved to assume up to 254,811 policies from Citizens under the depopulation program, aimed at shrinking the insurer of last resort.
AI and digital tools like eSignature, social media and drones are increasingly used in real estate, with clients responding positively, NAR finds.
Mortgage rates have already dipped in anticipation of the Fed’s first rate cut since December. Further declines are expected to unfold over time.
The Federal Reserve cut its key rate to 4.1% and projected two more cuts this year as job growth slows and unemployment ticks higher.
Realtor.com’s report shows the U.S. market peaks Oct. 12–18 for buyers, while Florida’s best deals arrive late Oct.–Dec. with more listings and lower prices.
At the Florida Realtors Convention, Chief Economist Brad O’Connor said home sales remain slightly below last year while prices stay well above pre-pandemic levels.
U.S. housing starts fell 8.5% as affordability slowed single-family construction, but lower interest rates may boost future building.
Wealthy buyers are opting for homes that balance convenience, style, and investment value rather than size and can be purchased in cash.
Florida law allows one year to start a storm claim. Helene deadline is Sept. 26, 2025. Milton deadline is Oct. 9, 2025. Supplemental claims get 18 months.
Builder sentiment remained unchanged in September. Lower mortgage rates and a possible Fed rate cut lifted future sales expectations, while more builders cut prices.
A Fed rate cut is expected Sept. 17, but mortgage rates, shaped by investor demand and Treasury yields, could rise, steady or drop.
Homebuyers are gaining leverage as sellers cut prices, offer concessions and listings linger, though affordability challenges keep sales near historic lows.
Radon, an invisible gas and second-leading cause of lung cancer, can enter any home. Regular testing and affordable mitigation protect health and property values.
Only about 2% of Americans achieve an 850 credit score. With steady habits and smart monitoring, anyone can move closer to top-tier credit and better loan rates.
Many longtime homeowners hold large equity gains, but today’s market calls for early planning and careful pricing to ensure a smooth, profitable sale.
Mortgage rates fell to an 11-month low, prompting more refinancing. Experts urge caution if the break-even period to recoup costs is over two years.
With mortgage rates easing and home prices slowing, affordability has increased 3.1% YOY across the U.S. However, conditions remain well below pre-pandemic norms.
Jonathan Lickstein, COO of LoKation Real Estate, shares at the Florida Realtors Convention how AI helps his agents streamline tasks, nurture leads and stay efficient.
To determine if a home is in an HOA community, check the deed and closing documents. If recorded, the annual fee is required; if not, it’s optional.
Florida’s jobless claims fell 1.7% to 5,624 last week, while U.S. filings surged 11% to 263,000, which was the highest weekly total since 2021.
AccuWeather trimmed its hurricane outlook to 13–16 storms and 6–9 hurricanes, citing dry air, dust and wind shear, though Gulf waters remain very warm.
U.S. homeowners’ median monthly costs rose 3.8% to $2,035 in 2024, with mortgage holders spending 21.4% of income as rents climbed 2.7% to $1,487.
The Champlain Towers South pool deck began falling down at least seven minutes before the tower, suggesting the pool dragged the building down with it, experts said.
Lessons from convention: Real estate is local and global. TRREB CEO shared Canadian market insights – 71% of Canadians who buy real estate in the U.S. choose Florida.
Rates on 30-year mortgage rate eased to 6.35% from 6.5% last week, while 15-year rates slipped to 5.5% from 5.6%.
A few smart investments, including a durable sofa, quality mattress, solid dining table and statement lighting, can make a first home comfy and lasting.
Luxury buyers are increasingly requesting overnight stays before making offers, using the “try-before-you-buy” approach to test a home’s fit.
A new survey shows boomers expect strong returns from homeownership, highlighting real estate’s role in long-term wealth and financial security.
Buying a home may feel out of reach for some, but careful planning, saving and boosting credit can make homeownership achievable within five years
Case studies help agents showcase expertise, problem-solving skills and results while building client trust. They must be done with care and privacy in mind.
Realtors in Florida are experienced, community-minded and committed to housing. The 2025 profile details their income, activity and demographics.
Four Florida cities – Orlando, Miami, Tampa and Fort Lauderdale – rank among the best places in the nation to retire in 2025, according to a new Wallethub study.
Home equity is one of the biggest financial benefits of homeownership. Make it count by paying on time, paying extra, renovating and waiting for the value to grow.
Quick and inexpensive fixes, such as painting a front door or replacing a worn welcome mat, can help make a great first impression on prospective buyers.
Taylor Swift’s album rollout offers lessons for agents: Tease details, use visual themes and tell a listing’s story to engage buyers and build lasting interest.
UF’s First-Time Homebuyer Program helps Floridians learn the full process, from loans to closing. Taught statewide, it offers tools for confident, long-term ownership.
Securing pre-approval before starting a home search is essential. It strengthens offers, shows seriousness and helps with a smoother buying process.
A new poll found that three out of four agents say repainting the interior can add the most value before a sale, with neutral tones remaining the top choice.
An estimated 904,000 renting households earn less than 60% of the median income and pay more than 40% of their income on housing, a new UF report said.
Mortgage rates are holding steady as September begins, with future changes hinging on economic conditions and the Federal Reserve’s next moves.
The Homebuyers Privacy Protection Act became law on Friday, restricting trigger leads and shielding consumers from unwanted calls, texts and emails.
If a neighbor trims your hedge without consent, it may be trespass. Document the damage, check property lines and local laws and consider mediation or legal action.
If a neighbor trims your hedge without consent, it may be trespass. Document the damage, check property lines and local laws and consider mediation or legal action.
Buying a home costs more than a down payment. Experts suggest comparing lenders, exploring FHA, VA or USDA loans, aid programs and seller concessions.
New AI tools aim to help Hispanic and underserved buyers overcome language barriers, navigate lending rules and secure mortgages faster.
U.S. job growth slowed in August and unemployment rose to 4.3%, boosting expectations of a Fed rate cut that may ease mortgage rates for homebuyers.
September is Realtor Safety Month, a reminder for agents to use tools and best practices to stay safe on the job year-round.
The average rate on a 30-year mortgage fell to 6.5% from 6.56%, while borrowing costs on 15-year mortgages slipped to 5.6% from 5.69%.
A new survey finds home renovations often spark disagreements. Real estate pros can help couples navigate decisions and reduce tension.
Florida has more than 1,000 springs that provide drinking water and recreation. Pollution, growth and climate change are straining the aquifer.
Real estate agents are moving away from high-volume tactics for approaches like the 3-3-3 Rule, personalizing outreach to build authentic, lasting client ties.
A Florida House panel will meet in September to discuss property taxes. Gov. DeSantis seeks a 2026 ballot measure to cut them.
Walking through a previous transaction via a strong study can demonstrate how an agent managed challenges, overcame issues and reached a successful outcome.
Selling an inherited house may face challenges from the probate process, uncertainty about how much to list the home for or who to sell to – having a plan helps.
Compassion for a homeless family turned into a months-long legal battle over eviction that left a Florida property owner with a damaged home and strained finances.
State regulators finalized agreements requiring 3 more property insurers to pay fines because of violating claims-handling laws after Hurricanes Ian and Idalia.
Employers posted 7.2M job vacancies in July – down from 7.4M in June and below economists’ forecast – as the American labor market continues to cool.
Companies risk low returns from AI without training. Structured programs can boost productivity up to 40% and make teams more innovative and compliant.
RE Q&A: Owners are required to pay special assessments. Boards may allow payment plans, while options such as reverse mortgages or selling may help manage costs.
Most regions posted declines, with the largest drop – 3.8% – in large metros, where multifamily output also fell. But most other markets saw multifamily growth.
The average 30-year mortgage rate dipped to the lowest rate in months as markets increasingly expect a Federal Reserve rate cut in September.
The latest confidence index from UF found Floridians are feeling more optimistic about their personal finances and about the economy in the next year.
Drywood termites can quietly damage wood in a home, but detecting early signs and scheduling inspections can prevent costly repair.
Homeowners tapped record equity in Q2 cash-out refinances, averaging $94K each. Monthly payments rose $590 as refinances made up 60% of loans.
Buyers can feel confident by carefully considering location, budgeting for costs, getting inspections and understanding HOA rules before making an offer.
Florida Realtors® recognized the latest members — the 2025 class — to earn the endorsement as top professionals at Friday’s BOD meeting at the annual convention.
The University of Michigan said consumer sentiment dipped more than initially estimated, with current conditions and expectations falling and inflation outlooks rising.
Make your listings inclusive by connecting with buyers of all backgrounds and being mindful of your design touches. Focus on calm, functional spaces.
Fed rate cuts may not lower mortgage rates right away, as they follow long-term Treasury yields. Prices may still sideline buyers.
Agents can plan their social media content with a calendar to stay consistent. Be sure to set clear goals and choose engaging formats.
In the South, pending home sales dipped 0.1% in July but rose 1.8% year-over-year, marking the strongest annual increase among all U.S. regions.
Rates on 30-year mortgages fell to 6.56% from 6.58% last week while rates on 15-year mortgages held steady at 5.69%.
Florida regulators approved private insurers to take tens of thousands of Citizens policies later this year as part of a program to reduce the state-run insurer’s size.
Americans’ confidence in the economy edged down, with concerns about jobs and inflation rising. Plans for big-ticket purchases and vacations fell.
Home prices were flat from Q1 to Q2 2025 but rose 2.9% year-over-year, with gains in 46 states. Florida is among those that saw declines.
Realtors from Englewood, Kissimmee and Clermont are among five agents selected for NAR’s 16th annual Volunteering Works grants and mentoring program.
Florida regulators approved private insurers to take tens of thousands of Citizens policies later this year as part of a program to reduce the state-run insurer’s size.
Many homeowners are upgrading outdoor spaces with smart features, multifunctional tables and casual setups to host meals and social gatherings year-round.
Several awards recognizing Realtor excellence were presented Thursday at the annual convention: Gia Arvin, president in 2024, was named Realtor of the Year.
Several awards recognizing Realtor excellence were presented Thursday at the annual convention: Gia Arvin, president in 2024, was named Realtor of the Year.
Baby proofing an open house, including blocking hazards and adding a kid-friendly area, helps families feel safe and focused while touring a home.
Millennials often prioritize open layouts, smart features and lifestyle needs, while Boomers seek low-maintenance, traditional homes with long-term investment value.
Elevated mortgage rates and higher building costs are sidelining buyers, pushing up supply and leading builders to lean on incentives.
Viceroy Preferred Insurance is the 15th insurer approved to operate in Florida since the 2022–2023 legislative reforms.
Modern wallpaper in accent walls or single rooms can attract buyers when used carefully, with trends like textured neutrals, nature prints and rich colors.
Many homeowners are postponing big remodeling plans, choosing instead to complete smaller projects and rely more on professional contractors.
Saving for a home starts with covering basics like emergency funds and debt, then building a down payment fund through budgeting and smart savings tools.
Today’s housing market features older buyers, fewer first-timers, rising prices and investor competition, making homeownership tougher for younger generations.
New resources by the National Association of Realtors make moving easier with smart packing tips and help veterans navigate the VA Home Loan Guaranty to buy a home.
A growing number of Florida HOAs are using license plate readers and speed cameras to fine speeders on private roads, prompting legal and privacy concerns.
A converted garage that wasn’t properly permitted can lead to citations, but options may include retroactive permits, compliance or legal action.
Real estate scams are on the rise, from wire fraud to fake rentals. Verify wiring instructions, check property records and be cautious with unsolicited emails.
When you encounter a buyer who has already signed an exclusive agreement with a brokerage firm, remember a Realtor®’s ethical duty to avoid interfering with another firm’s exclusive relationship.
When a Listing Broker took the listing, the Seller made it very clear what price they wanted the property to be listed and sold. After weeks of marketing the property, the Listing Broker concluded the property was overpriced. The Listing Broker shared this opinion with their sales team but failed to share with the Seller.…
The home theater market is set to reach $66B by 2027. Homeowners are adding screens, surround sound, recliners and smart lighting for a cinematic experience.
Homeowners should consider remodeling costs versus moving, factoring in home value, equity and lifestyle needs before deciding.
A growing number of agents are using virtual assistants for marketing, scheduling, client communication and transaction coordination.
Fed Chair Jerome Powell hinted at a possible interest rate cut, a move that could help mortgage rates, and emphasized a cautious approach is necessary.
The state ranks among the most fun in the nation, leading in restaurants, attractions and festivals, offering residents plenty of activities and recreation options.
Moving can be stressful for children, but it also provides a growth opportunity. Make it easier by creating daily routines and communicating continuously.
Homeowners are upgrading bathrooms with spa-like features, including filtration systems and aromatherapy, to create spaces for daily rest and wellness.
Rates on 30-year mortgages remain unchanged from last week at 6.58%, while borrowing costs on 15-year mortgages dropped to 5.69% from 5.71%, Freddie Mac said.
National home sales ticked up in July, led by steady month-over-month growth in the South, Northeast and West. Inventory reached its highest since 2020.
Florida Realtors’ data: No major shifts in trends seen in past months, as economic uncertainty and mortgage interest rates hovering around 6.5% remain factors.
Juana Watkins reminds members that even if a form looks familiar, be sure to review the contract, line by line, to make sure something isn’t missed, changed or added by the other side.
Boost your home’s first impression, aka curb appeal, with simple updates like fresh paint, stone pathways and colorful plants to create a welcoming, stylish yard.
Boosting credit scores helps borrowers secure better mortgage rates, with payment history and low credit utilization key to long-term savings.
AI-driven social engineering is rising, using deepfakes and hyper-personalized attacks. Stay alert and verify requests to avoid being scammed.
Cape Coral–based Vision Insurance Exchange is set to launch in November, writing policies statewide except Monroe County as Florida’s market stabilizes.
Most Q2 visitors were domestic, while overseas travel to Florida rose 11.4% year over year, according to state data.
Eligible first-time buyers can receive up to $35K for down payments and closing costs through the Hometown Heroes Housing program, a Florida Realtors’ priority.
Agents can strengthen customer connections after closing with thoughtful gifts that include kitchen gadgets, cozy decor and practical household items.
About 10% of mortgage applications are now for adjustable-rate mortgages, above 2010s levels, with longer intro rates and tighter borrower screening.
Housing starts increased 5.2% in July but affordability remains a challenge. Combined single- and multifamily starts fell 2.4% in the South YTD.
Mortgage applications jumped by 6.8% YoY in July and 7% from June, driven by slightly lower mortgage rates and more newly built inventory.
With rates declining last week and mortgage applications for home purchases up, there’s hope on the horizon for slow markets, NAR said.
Florida Peninsula is seeking its largest-ever rate cuts: 8.4% for homeowner policies and 12% for condo policies, possibly starting Oct. 31 if regulators approve.
From colorful bougainvillea to fragrant jasmine, the right plants can boost curb appeal while making outdoor living spaces more tranquil and vibrant.
Small businesses in eight Florida counties can apply for SBA low-interest loans until Sept. 15 to cover economic losses from Hurricane Milton.
High mortgage rates, weak buyer traffic and supply challenges kept builder sentiment low, with price cuts and sales incentives remaining common, the NAHB said.
Homeowners can lower bills and conserve resources by choosing drought-tolerant landscaping and installing efficient appliances and low-flow toilets.
Retirees can remain in their homes longer by using smart technologies, safety upgrades and community programs to create a secure, supportive environment.
Plug-in solar panels are growing in the U.S., offering easy installation, eco-friendly benefits and modest cost savings for homeowners.
Repeated unfounded complaints are often legally protected. Maintain your property, document incidents and work with code enforcement to reduce issues.
Consumers are no longer bracing for the worst-case scenario for the economy but continue to expect rising inflation and unemployment, the University of Michigan said.
Creating extra space at home can boost comfort and enjoyment, offering room for work, play and gatherings with careful planning and investment.
U.S. housing shows early signs of stabilization as affordability may improve slightly in 2025, an economist said. The market is gradually balancing.
Florida ranks sixth nationally and highest in the Southeast in WalletHub’s livability study, excelling in economy, quality of life and dining options.
Rates on 30-year mortgages fell to 6.58% from 6.63% last week while 15-year rates dropped to 5.71% from 5.75%, Freddie Mac said.
Starting September, lenders will phase in a standardized, data-driven appraisal format. Agents should prepare for clearer, more consistent reports.
Rising home prices and high mortgage rates are driving more buyers toward multigenerational homes, with in-law suites offering privacy, independence and cost savings.
Investing in communication infrastructure, cybersecurity, employee development and tech upgrades helps businesses boost efficiency and drive long-term growth.
Millennials and Gen Z are redefining housing with a focus on affordability, sustainability and digital ease, transforming the real estate market.
Home prices rose slightly in most U.S. metros in Q2, NAR said. In Florida, prices have leveled off or grown only slightly as new construction adds more homes.
High home values have fueled a surge in cash-out refinances, averaging $94K per homeowner, despite higher mortgage rates and potential long-term risks.
When appliances break, experts advise homeowners to weigh repair costs, warranties, lifespan and personal preference before deciding to replace.
Busy agents can protect kids online by setting parental controls, securing Wi-Fi, limiting screen time and teaching safe social media and internet habits.
Some agents say private showings and targeted marketing help focus on serious buyers. Virtual tours and online listings also reduce the need for open houses.
BTR offers agent a chance for rental commissions, a pipeline of future buyers and connections with developers in a fast-growing market.
Living independently is now a key marker of adulthood, as fewer young adults marry or have kids amid rising housing and living costs.
Real estate marketing thrives on short videos, local posts, quick updates and personal connections. AI helps, but genuine content and paid boosts build relationships.
Condo insurance covers the building and shared areas, but not a unit’s interior or belongings. An individual policy protects personal items and liability.
Florida homeowners in eligible counties with 2023–2024 storm damage can pre-apply for home repair, replacement or reconstruction through Rebuild Florida HRRP.
Across Gen Z and Gen X households, interest is rising in the fisherman aesthetic, including coastal-inspired palettes that bring utilitarian charm indoors.
NOAA slightly lowers its 2025 storm forecast but still expects an above-average season as warm seas and favorable conditions fuel activity.
Nearly 1,200 Florida Realtors members and volunteers removed 13.5 tons of trash from 218 miles of waterways in July, finding items from a walker to a bottle of sake.
A beautiful lawn can add serious value to your home, increasing your home’s price by 5%. Landscaping improvements often offer 100% or more ROI.
Two-thirds (66%) of Gen Z are more concerned about housing security than a year ago, and nearly 1 in 3 (30%) have considered squatting or living in their car.
Hispanic buyers make up over one-third of U.S. homeownership growth, with rising incomes, strong buying power and growing market influence.
Housing sentiment inched up as Fannie Mae’s index rose to 71.8. Job loss fears fell, home price and mortgage rate outlooks improved, but buying conditions declined.
Newly built homes are more plentiful nationwide and a better value on a per-square foot basis, particularly in the South, Realtor.com said.
New research shows people living within 30 miles of the ocean or gulf tend to live longer. Florida has the longest coastline in the continental U.S.
Rates on 30-year mortgages fell to 6.63%, the lowest since April, from 6.72% last week, while 15-year rates dropped to 5.75% from 5.85%.
The initiative promotes local policy solutions, infrastructure upgrades and partnerships to tackle housing supply and affordability challenges nationwide.
Experts still expect a busier-than-usual hurricane season, though they’re less certain about the outlook. Warm ocean waters could lead to more storms ahead.
A growing number of buyers are pausing their searches due to economic uncertainty, while more sellers are pulling listings.
Live video helps small businesses connect with customers, build trust and boost sales by showcasing services, people and culture in real time.
Agents report steady transactions and rising income while citing housing affordability as a key obstacle, reflecting confidence despite a tough market.
Buyers have more options this fall as inventory grows. While prices may rise more slowly, high mortgage rates continue to weigh on affordability.
For the 4th year in a row, Florida Realtors has been recognized as one of the Top 100 ‘Best Companies To Work For In Florida” by Florida Trend magazine.
Simple upgrades, including outdoor lighting and fencing, can help homeowners protect their investment while preserving comfort and style
Florida homeowners are adopting hurricane-ready HVAC upgrades like enclosures, flood barriers, and surge protectors to protect systems and extend lifespan.
Compared to high-cost states like New York and California, Florida offers a more affordable income level to live comfortably with a good quality of life.
The state ranked high for no rent control, quick evictions, no state income tax and strong rental demand driven by tourism and steady population growth.
Licensed business owners should be cautious of scam emails and calls asking for personal details such as driver’s licenses and business information.
Strategic improvements, including fresh paint and energy efficient features, can help homeowners increase value, build equity and make their homes more marketable.
Agents should build on their area knowledge with three key skills: understanding the numbers, telling a meaningful story and thinking strategically.
Real estate pros use AI to save time and boost marketing, but experts urge guardrails to avoid bias, errors and loss of a personal touch.
Many agents overlook a broker’s full value. From risk management and compliance to training, brand building and referrals, brokers play a key role in agent success.
Florida car insurance rates are expected to drop an average of 6.5% in 2025 – a welcome change for agents who spend a lot of time on the road.
A judge dismissed a third recent lawsuit against NAR, barring the plaintiff from refiling. The claims alleged MLS discrimination and policy violations.
Applications for the 2025 Hometown Heroes Program should open Aug.18; My Safe Florida Home grants reopen today. Both were Florida Realtors’ 2025 legislative priorities.
Maintaining a safe and secure environment is paramount in multifamily properties where diverse groups of residents live in close proximity.
Florida car insurance rates fell 6.5%, saving drivers about $120 a month – a welcome change for agents who spend a lot of time on the road.
Consumer sentiment rose slightly in July, with current conditions improving and inflation expectations falling. The overall outlooks remain cautious.
Florida Realtors Pres. Weisheyer: Our convention is a “business advantage” – it’s where Realtors serious about growing business and leading their market need to be.
Rates on 30-year mortgages slipped to 6.72% from 6.74% last week while 15-year rates dropped to 5.85% from 5.87%, Freddie Mac said.
Cowen will step down in Q1 2026 after 17 years guiding the largest MLS in Florida and Puerto Rico. COO Shayne Fairley will take over.
Homeowners are blending urban style with cozy countryside charm to create homes that balance bold style with warmth, comfort and personal expression.
Failure can drive growth in real estate. Learn from setbacks, channel frustration into motivation, stay sharp after wins and use challenges to build lasting success.
A new law allows veterans to directly compensate real estate agents and gives them equal footing in the housing market, a change long championed by NAR.
Realtors remain confident that sales will rebound, pointing to rising mortgage applications despite a 0.8% June decline nationwide.
The Federal Reserve held interest rates at 4.3% for the fifth time this year, citing inflation concerns and tariff uncertainty. The economy grew 3% in Q2.
A bold home design trend is pushing back against beige minimalism, embracing color, personality and joy to create spaces that feel personal and lived in.
Before closing, buyers should check that repairs were made, no new damage occurred and contract items remain to help prevent costly surprises.
Nearly 905,000 low-income renters in Florida pay more than 40% of their income on housing. Efforts to increase affordable units continue as homelessness rises.
More Floridians felt it was a good time to spend in July, reflecting a rebound in consumer confidence. But concerns about inflation and long-term conditions lingered.
The home-hardening grant program, a Florida Realtors’ 2025 priority, reopens Aug. 4 with $10,000 matching grants to help strengthen homes against storms.
NAR’s latest Window to the Law video outlines best practices Realtors can follow to reduce legal risk when referring contractors or service providers.
At the REALTORS® Legislative Meetings (RLM) in Washington, NAR made multiple revisions to the Code of Ethics and Arbitration Manual (Manual) that became effective June 5, 2025, including changes to 11 Standards of Practice (SOP). This article aims to explain the ‘why’ behind the SOP changes and describes NAR’s rationale.
Leslie Nettleford-Freeman joins NAR as associate general counsel and VP, focused on defending the Realtor brand and leading legal trademark efforts.
Florida now allows landlords and tenants to exchange certain notices by email if both sign a written addendum.
The most current home trends blend comfort and function with cozy spaces, English kitchens, arches, wet rooms, solar power and bold layered design.
Satisfaction with mortgage servicers drops to record lows in 2025, driven by poor communication, rising escrow costs and weak customer service.
FICO will soon factor buy now, pay later loans into credit scores, raising concerns from consumer advocates about fees, debt risks and missed payments.
The FHFA said prices are up 2.8% from last year across the United States. In the South Atlantic census division, which includes Florida, home prices increased 1.4%.
Americans remain concerned about tariffs, but confidence rose two points to 97.2 in July, up from 95.2 the previous month.
The summer heat, humidity and pests can take a toll on decks. Routine inspections, cleaning, sealing and timely repairs help protect your investment.
Florida continues to attract new residents, particularly Baby Boomers, in 2025, thanks to warm weather, no income tax and affordability.
Today’s luxury buyers want authenticity, meaning and values-driven experiences. Luxury is now defined by emotional connection, not just price or prestige.
AI tools help agents personalize content, enhance visuals, optimize SEO and automate outreach, saving time and boosting engagement in a digital market.
Homebuyers may soon be able to use cryptocurrency as part of their mortgage qualifications, under a new order for federally backed loan programs.
When a property line dispute occurs, document the issues carefully, know the local rules, send a written request if needed and consult an attorney if issues persist.
Aggressive savings strategies are gaining traction among younger generations to focus on budgeting, cutting costs and boosting savings for goals like homebuying.
A Florida consumer group says recent reforms have reduced litigation, lowered Citizens’ policies and attracted new insurers, helping stabilize the market.
Fannie Mae now sees slower home price growth and slightly lower mortgage rates through 2026, with modest gains expected in overall home sales.
A new federal tax law temporarily raises the SALT deduction cap to $40,000 starting in 2025, offering major benefits for homeowners.
A new survey found 61.3% of small business owners feel positive about AI, using it mostly for marketing, sales and data analysis.
Mortgage rates and affordability continue to challenge the housing market, keeping buyers hesitant and new-home sales sluggish despite builder incentives.
A U.S. District Court closes a case brought against the National Association of Realtors involving MLS access.
The average rate on a 30-year mortgage slipped to 6.74% from 6.75% last week, while the 15-year rate dropped to 5.87% from 5.92% last week, Freddie Mac said.
Agents who understand maximalist design can better connect with buyers seeking warmth, personality and a lived-in feel.
Homeowners can quickly boost curb appeal by painting the front door, adding lighting and plants and keeping the exterior clean and cohesive.
Florida Realtors Chief Economist O’Connor: Closed sales of single-family existing homes in June rose 2.8% YoY, “the first gain in that metric since January.”
While existing-home sales dipped 2.7% nationally in June, median prices hit a record $435,300, reflecting continued equity growth for homeowners.
Industry leaders say the high-end market, particularly for homes priced above $10M, is continuing to gain strength, with all-cash deals the norm.
Scammers target victims through calls, texts, emails and data breaches, among others. Knowing the signs can help protect personal information.
Simple DIY projects, such as staining a deck and repairing concrete, can improve a home’s appearance, increase its value and make everyday living more comfortable.
Storm risks, lease terms, utility billing and maintenance policies can differ from up north, so knowing what to ask before signing a lease is important.
Nonbank lenders are playing a bigger role in commercial property finance, offering flexibility but raising concerns about default and risk.
Great listing photos can help your home stand out online. Hire an agent who uses a pro photographer and prep the space to make it look inviting and clutter-free.
Agents should focus on consumer-centered posts, avoid politics, engage followers and mix personal with real estate content to build trust.
Home inspections can rattle buyers, but most issues are minor or fixable. A calm, informed agent can help keep deals from falling apart.
Florida is home to five of the fastest-growing U.S. metros, with Orlando, North Port, Cape Coral, Lakeland and Deltona taking top spots.
Attracting mosquito-eating birds and bats to your yard is one way to boost your defenses against mosquitos. Don’t forget to remove standing water.
Scams are growing more sophisticated, but experts say steps like limiting data sharing, freezing credit and using two-factor authentication can help.
The state’s population growth is reshaping real estate, compelling agents to adopt digital tools and social media to attract younger buyers and boost engagement.
Affordability headwinds persist as 30-year fixed-rate mortgage rises again, yet the stream of mortgage applicants remains stronger than in 2024.
Florida is among the top states seeing new construction price declines, creating potential opportunities for buyers as builders adjust to market conditions.
Mortgage rates rose this week, but steady inflation data suggests a more stable outlook. Buyers may benefit from clearer signals in the months ahead.
Builders remained cautious as elevated interest rates and affordability challenges continued in July. Buyer traffic fell to its lowest level since 2022.
Single-family starts hit their lowest since July 2024, down 4.6%. Overall starts rose 4.6% thanks to a 30% surge in multifamily building.
Consumer sentiment rose slightly to its highest point in five months. Despite easing inflation expectations, economic concerns remain elevated.
The bill that makes permanent the VA’s temporary policy letting veterans pay their real estate agents directly is headed to the president’s desk.
With 37 years’ experience as legislative counsel, Trey Goldman now will oversee Florida Realtors’ legislative and regulatory advocacy-related efforts in Tallahassee.
Rates on 30-year mortgages rate ticked up to 6.75% from 6.72% last week while rates on 15-year mortgages increased to 5.92% from 5.86%.
In today’s digital landscape, brands are thriving by using humor, memes and unfiltered content to connect with Gen Z and build authentic online communities.
With a solid financial foundation and fewer risky loans, today’s housing market rewards buyers with good credit through better rates and more loan choices.
Florida Peninsula Insurance Co. is expected to assume up to 40,000 policies from Citizens in late October as part of the depopulation program.
A federal court dismissed Homie’s antitrust claims against NAR and major brokerages with prejudice, barring the company from refiling the lawsuit.
With kitchens busier than ever, smart upgrades like better storage, layout tweaks and work zones can boost function and make daily tasks easier.
Selling a home with input from multiple generations adds stress. Clear leadership, communication and smart prep can help keep the process on track.
AI is helping Realtors save time, boost productivity and improve client service especially in valuation, lead generation and repetitive tasks like scheduling.
The new dashboard gives Realtors® exclusive, monthly metro data and forecasts to better guide clients on affordability, pricing and market trends.
Five Florida islands made Travel + Leisure’s 2025 top 15 U.S. islands list, highlighting their charm and resilience after multiple hurricanes.
Home shoppers are finding creative ways to achieve homeownership, including buying smaller homes and opting for multigenerational living.
Escrow accounts cover your property taxes and insurance. Most lenders require them, but waivers may be available if you meet lender criteria.
Scam-yourself attacks are rising fast, using AI-generated videos to trick people into handing over money or data. Facebook and YouTube are key targets.
The state ranked No. 3 overall in CNBC’s 2025 Top States for Business, earning high marks for its workforce and other key strengths.
International buyers purchased 78,100 U.S. homes over 12 months, reflecting a 33.2% jump from the year before and the first increase since 2017.
Moving can be smooth with the right prep. Book early, hire licensed movers, avoid large deposits, protect your home and keep a detailed packing list.
Most homeowners lack flood insurance, which isn’t included in standard policies even though flooding is the costliest and most common U.S. disaster.
Active inventory climbed 28.1% year-over-year in June to hit a fresh post-pandemic high, but delistings are growing, Realtor.com found.
Fueled by population gains, tax advantages and a strong economy, commercial real estate investment is surging across the state, experts say.
Lawn paint boosts curb appeal, but sellers should disclose its use, especially if covering major turf issues since it’s a cosmetic, not permanent, fix.Lawn paint boosts curb appeal, but sellers should disclose its use, especially if covering major turf issues since it’s a cosmetic, not permanent, fix.
With buyers becoming more selective, features like smart home tech, open layouts, outdoor kitchens and spa-style suites can help a home stand out.
Identity theft can go unnoticed until it’s too late. Learn how to spot early warning signs, monitor your credit and take steps to protect your identity.
Two new NAR guides share real-world advice on lowering energy bills and what to consider when buying a home with history.
Results-focused web design boosts SEO, speeds up load times, improves the user experience and drives conversions for real business growth.
Cybercrime cost businesses $16.6B last year, but prevention is possible. Strong passwords, software updates, staff training and backups provide protections.
Club rules can’t override deed laws and owners can keep names on the title even if the club limits who qualifies for membership.
A stronger jobs report and global trade uncertainty pushed mortgage rates higher. More buyers are considering adjustable-rate loans.
Two new NAR guides share real-world advice on lowering energy bills and what to consider when buying a home with history.
Rates on 30-year mortgages ticked up to 6.72% from 6.67% last week, while 15-year mortgage rates rose to 5.86% from 5.80%, mortgage buyer Freddie Mac said.
Kitchen, bath and living room remodels top the list as homeowners shift toward privacy and away from open floor plans post-pandemic.
Investors purchased 265,000 homes in the January-March quarter, an increase of 1.2% from the same period a year earlier, a new report found.
Homeowners can tap equity soon after buying if they have 15% to 20% equity. The best rates go to those with more equity, strong credit and low debt.
Fannie and Freddie will now accept VantageScore 4.0, a move that could help more buyers qualify by including rent, utility and telecom payments in scores.
Researchers lowered their Atlantic hurricane forecast to 16 named storms, 8 hurricanes and 3 major storms, citing slightly cooler sea temps.
AI is reshaping real estate. This year’s Florida Realtors Convention features expert-led sessions on tools, strategies and ethical use in daily business.
The state collected $4.56B in general revenue in May, $84.5M over forecast, with most gains from sales taxes as consumers pre-bought goods ahead of tariffs.
Renters with pets are on the rise, and new research shows listings that welcome them rent at least eight days faster.
Brokers can prioritize their emotional health to lead with resilience, support their teams and maintain long-term success in a demanding industry.
Buyers are using AI-powered searches, agent-matching platforms and high-tech home inspection tools, among others.
FBI warns cybercriminals are ramping up social engineering attacks, using deception, AI and deepfakes to trick victims into handing over sensitive info.
Crypto scams drove most U.S. internet-crime losses in 2024, totaling $9.3B. Older adults lost nearly $2.8B, often to fake investment platforms.
Agents help buyers and sellers overcome hesitation by focusing on personal goals and market clarity, guiding families to confident decisions despite market shifts.
HOAs can enforce stricter rules on commercial vehicles than state or city laws, unless those rules directly conflict with public policy or state law.
Fannie Mae says more Americans think it’s a good time to buy a home but concerns over job security and mortgage rates dampened overall housing sentiment in June.
A $280 million infusion of funding means new opportunities to take advantage of the My Safe Florida Home program.
When house hunting, focus on what’s most important – including costs, space and potential problems – to avoid buyer’s remorse.
A growing number of older adults in Florida are renting instead of owning. From 2013–2023, senior renters rose 22% in Miami and over 80% in Jacksonville.
House plants that include common ivy, spider plants and peace lilies can help reduce stress and improve air quality. Use caution near pets and children.
Floridians can stay cool and safe outdoors with elements that include shade trees and awnings, says the Building Resilience Against Climate Effects program.
Vague prompts lead to weak replies. To get better AI results, be clear, specific and give context. Refine the search and repeat it until it works.
New tax law includes deductions, affordable housing incentives and pro-homeownership measures, driven Realtor advocacy nationwide.
Rates on 30-year mortgages fell to 6.67% from 6.77% last week, while rates on 15-year mortgages declined to fell to 5.80% from 5.89%.
What callers hear while waiting on the phone can shape their impression of your business. Use that time to sound current, helpful and consistent with your brand.
Florida has one of the nation’s highest median ages, but 22 counties saw a drop in median age since 2020, showing wide age variation across the state.
Agents can ease customer concerns by focusing on appraisal values, market strategy and transparent pricing to build trust and guide informed decisions.
Real estate pros say having an inspection before listing the house can help calm nerves and save deals by providing the chance to address repairs long before a sale.
The major cleanup effort continues throughout July, as Realtors and others clear trash and debris from beaches, lakes and other waterways in their communities.
Two more property insurers have been approved to operate in Florida, bringing the total to 14 since recent reforms. Officials say the market is stabilizing.
The Federal Circuit upheld property owners’ right to seek compensation over the CDC eviction ban. The government may still ask the U.S. Supreme Court to review.
Designers say clutter, poor materials and mismatched decor can make a kitchen island look low-end. Prioritize simplicity, quality and proportion.
Staging helps homes sell faster and for more, NAR found. Key areas include the living room and kitchen. Agents urge sellers to declutter and make minor updates.
Experts recommend keeping financial data safe by questioning unexpected calls, limiting data sharing and freezing credit, among other steps.
The wellness real estate market is growing 3x faster than overall construction and could hit $1.1 trillion by 2029, a new report shows.
Florida Realtors® CEO Margy Grant was named a 2025 HousingWire Woman of Influence for the second year, honoring her impact on the housing industry.
Florida Realtors® CEO Margy Grant was named a 2025 HousingWire Woman of Influence for the second year, honoring her impact on the housing industry.
Designers spotlight two bold 2025 decor trends: vibrant “city glow” style and calming “cottage flow” or a mix of both for a look that’s uniquely yours.
Smoking on balconies can spark disputes in shared housing. If smoke drifts and disturbs neighbors, it may violate building rules and lead to fines or lawsuits.
Many baby boomers are opting to rent due to flexibility, amenities and mobility over homeownership, according to Freddie Mac and housing experts.
First-time buyers should expect upfront costs like down payment, mortgage insurance, closing fees and moving expenses. Ongoing costs include insurance and taxes.
Economic sentiment rose 3.1 points to 84.1 in June, with all five index components improving. The biggest gains were in views of personal finances.
New Florida Realtors forms reflecting condo-safety law changes will be released at 8 a.m. today. A recorded legal webinar on the updates is available now.
Some of the new laws that resulted from Florida Realtors’ 2025 legislative priorities include more transparency in condo transactions and protections from squatters.
Elimination of state and local tax on commercial leases becomes reality with the governor’s signature of a historic tax relief bill. It begins in October.
Be the home on the block that bugs run from by installing patio fans, planting landscaping with bug-resistant plants and removing standing water.
Budget-friendly living room upgrades, including affordable flooring, reupholstered furniture and better lighting, can refresh a space without overspending.
Downsizing in retirement isn’t the only option. Upsizing might fit your lifestyle better. Budget, layout and future plans all play key roles in the decision.
Florida’s Realtors: Homeowners should safeguard their homes before traveling July 4. Urge friends, family and clients to take steps to protect their homes while away.
Be the home on the block that bugs run from by installing patio fans, planting landscaping with bug-resistant plants and removing standing water.
Help buyers focus on what matters when purchasing a home: a manageable budget, location, long-term suitability and realistic expectations.
Gen Z makes up just 3% of buyers as debt, high costs and short-term money habits delay homeownership, even among high earners, data shows.
The small-space living trend is growing around the nation as renters want lower price points and amenity-rich, transit-oriented communities.
Consumer sentiment rose 16% in June, breaking a six-month slump, but remains below post-election highs as inflation concerns and tariff fears persist.
Learn about Florida’s updated condo laws in today’s webinar. New forms and contract changes take effect July 1, including extended review periods for buyers.
Rates on 30-year mortgages fell to 6.77% from 6.81% last week, while 15-year rates dropped to 5.89% from 5.96%, Freddie Mac said.
Rising home prices are driving Americans to choose smaller spaces and smarter, quality furniture that’s adaptable, durable and worth the investment.
FICO will add buy now, pay later loans to credit scores, a move that could affect mortgage applicants as lenders begin factoring in the new credit data.
New legislation prevents home buyers from being inundated with unsolicited calls, texts and emails from competing lenders offering loans.
Florida’s insurance market is rebounding, with rates stabilizing and Citizens’ policy counts declining – progress proving reforms are working, CEO Tim Cerio said.
NAR: Pending home sales rose 1.1% year-over-year. The West led monthly gains, while the Midwest and South grew yearly. Rates still drive buyer decisions.
Florida’s new condo law extends inspection deadlines and eases funding rules. Florida Realtors will soon release updated forms and host a June 30 webinar.
Blending indoor and outdoor spaces with lighting, flooring and focal points can create a cohesive, inviting environment that extends a home’s living area.
Scam emails and texts look more convincing than ever so protect your data by using strong passwords and updating devices in a timely manner.
Fed Chair Jerome Powell said interest rates will remain steady for now, citing a solid economy, easing inflation and concerns prices will rise from tariffs.
Millions of homeowners risk surprise tax bills on sale profits due to capital gains limits that haven’t changed since 1997, despite soaring prices.
Sales of newly built single-family homes declined 13.7% in May on elevated interest rates and economic uncertainty, the National Association of Home Builders said.
On a year-over-year basis, prices rose 3.0%, with the South Atlantic region up 1.6%. Monthly changes varied by region, from -1.3% to +1.2%.
Consumers remain concerned about the economy, a new survey showed. Compared to May, more consumers were undecided about plans to buy big-ticket items overall.
Grilling season is here. Charcoal, gas, pellet and other grill types offer different flavors and features to match every cookout style.
Bold, space-saving furniture and mounted sconces maximize small rooms. Glass walls, mirrors and reflective finishes boost light. Calm colors unify without clutter.
About one-fifth of recent home buyers considered their pet when choosing a neighborhood, a share that increases among unmarried couples and single women buyers.
Agents gain steady listings by targeting neighborhoods with 8–10% turnover, using mailers, short videos and consistent outreach to build trust and grow business.
A condo-related law supported by Florida Realtors takes effect July 1. It improves condo document transparency and extends certain deadlines.
Not sold on setting your thermostat to 78 degrees? Raise the temperature one degree at a time to see how it affects your comfort and finances.
Cordless, rechargeable lights offer an easy, stylish way to brighten dark spots and boost home appeal without wiring or an electrician.
A credit score reflects payment habits, debt use, credit age, types and new applications. Understanding these factors can help improve a financial future.
U.S. existing-home sales rose 0.8% in May, with gains in most regions. Inventory and prices increased, while higher mortgage rates kept activity subdued.
Over the past few months, “Florida’s housing market is finding its balance, and that’s good for buyers and sellers alike,” said Florida Realtors Pres. Tim Weisheyer.
Watch for cracks, misaligned doors/windows, popped nails and drainage issues — early signs of foundation problems. Fixing them quickly helps avoid costly damage.
The Everglades have a positive impact on real estate, fisheries, and tourism, while also reducing flood risk and helping protect drinking water.
Fraudsters use fake quitclaim deeds to steal homes, selling or renting them without owners’ knowledge. Stay alert by monitoring records and protecting your information.
If you dispute a condo charge, review your documents, gather evidence, and respond in writing. If that fails, consider legal help to challenge the assessment.
The federal government plays an essential role in immediate disaster relief and could do more to help residents recover and communities build resiliency, NAR said.
Freestanding cabinets, hutches, and vintage pieces offer stylish, flexible storage at lower costs, as interest grows in “unfitted” kitchens and resale finds.
Mortgage rates dipped to 6.86% as listings rose 32% year over year. With more homes for sale and stable prices, buyers are gaining leverage in markets nationwide.
Modular, 3D-printed and prefab homes are growing in popularity as rebuilding options after disasters despite image and transportation hurdles.
The gap between new builds and existing homes has narrowed, presenting an opportunity for real estate agents and buyers to navigate a tough affordability environment.
Two new NAR Consumer Guides explain how home auctions work and what to know when hiring a real estate attorney.
Federal Reserve officials expect inflation to rise but still anticipate two interest rate cuts by the year’s end. Interest rates impact mortgage rates.
Rates on 30-year mortgages fell to 6.81% from 6.84% last week, while 15-year mortgage rates eased to 5.96% from 5.97%, mortgage buyer Freddie Mac said.
Simple furniture swaps, like a new chair, bench or coffee table, can refresh a home for summer guests and gatherings with no renovations needed.
Before you start house hunting, use tools and formulas to estimate how much house you can afford.
New home purchase mortgage applications fell 4.5% year-over-year in May, with estimated sales down 12.1% from April, the MBA said.
Housing starts fell 9.8% in May, driven by a sharp drop in multifamily construction, while single-family starts were mostly flat amid ongoing market pressures.
Smart devices have surged to nearly 18.8 billion worldwide, collecting personal data. Protect your privacy by securing devices, updating firmware, and limiting data sharing.
New research shows dark olive green and rich navy blue are the value-boosting colors of 2025. Buyers prefer dark shades of green, blue and gray.
Sellers outnumber buyers by 500K nationwide, the widest gap in over a decade, as listings rise and buyers remain cautious amid high mortgage rates.
Builder confidence eased in June, but increased price incentives reflect efforts to make homes more affordable and attract buyers in today’s market.
New laws boost housing, end the business rent tax, strengthen property rights and improve condo transparency. Some measures still await the governor’s signature.
An appeals court ruled Florida Realtors and the Florida Apartment Association can seek attorney fees from Orange County over a rent-control lawsuit.
Unlock hidden ChatGPT features to boost productivity by searching past prompts, customizing responses and perfecting your writing to save time every day.
Real estate business success should include CRM tools, personalized prospecting, lead generation strategies, consistent workflows and tech integration.
Mortgage applications for home purchases climbed to the highest level in more than a month, even as interest rates barely budged.
A UF/IFAS survey found 60% of Florida fertilizer users don’t know if local rules apply. A new campaign aims to boost awareness and proper use.
Designers say simple ways to create a cozy living room include smart furniture choices, neutral paint colors, comfortable layouts and budget-friendly updates.
A UF team created a tool that uses data and modeling to rate how building materials hold up to real-world risks like water damage to help protect homes and cut costs.
Unlock hidden ChatGPT features to boost productivity by searching past prompts, customizing responses and perfecting your writing to saving time every day.
If a divorce didn’t cover selling the home, a judge may decide how to split equity based on payments, upkeep and use or the parties can try mediation.
Faced with high prices and rates, first-time buyers are choosing smaller homes, prompting builders to scale down size and features to keep sales moving.
Florida Realtors Education Foundation will help 217 students with college costs this year. Since the program started in 2010, it has given nearly $3M in scholarships.
CSU still expects 17 named storms and 9 hurricanes in 2025, with 4 major ones likely. Warm ocean temps fuel activity, but forecast uncertainty remains.
Consumer sentiment rose 16% in June after six months of decline, as inflation stayed low and Americans grew less concerned about recent trade tensions.
The average rate on a 30-year mortgage fell to 6.84% from 6.85% last week. Rates on 15-year mortgages declined to 5.97% from 5.99%.
Half of Americans lack basic financial literacy, costing over $243 billion in 2024. Confusing terms like “equity” and “APR” lead to costly mistakes nationwide.
In Florida, Mediterranean-style homes are often the priciest, and Ranch styles are popular and usually more affordable.
Commercial real estate projects are picking up after trade talks, with growing investor optimism despite ongoing economic and interest rate concerns.
The president said FEMA may be phased out after the 2025 hurricane season, with disaster response responsibilities shifting to states.
Four Florida metros lead the country with the highest homeownership rates, driven by residents with college degrees, a new study found.
Bathroom upgrades can boost resale value, with luxury touches that include steam showers, soaking tubs and walk-in closets netting a 57% ROI or higher.
Rising energy rates are driving interest in solar, but awareness remains low especially for community options, a new Ohio State study finds.
Pricing your home right is key to selling. Use online tools for estimates, but agents or appraisers offer more accurate, market-savvy valuations.
As the market normalizes, real estate leaders stress foundational skills, proactive communication and value-driven service as essential tools for today’s agents.
Housing sentiment improved in May as optimism rose for mortgage rates, buying and selling conditions, job security and home prices, Fannie Mae said.
Outdoor lighting enhances home beauty, safety, and security by illuminating walkways, landscaping, water features and architectural details with warm or cool tones.
Smart home tech can be simple and surprisingly helpful. Opt for devices that make everyday life easier like smart plugs and bulbs.
Small backyards can have big potential with some smart design choices and creative flair. Use mini gardens and cozy lighting to create outdoor ambiance.
Nationally, active listings surpassed the 1 million mark for the first time since winter 2019, while newly listed homes rose 7.2% year-over-year.
Areas across the state are seeing a sharp increase in high-net-worth residents, both renters and homeowners, attracted here by good weather and a low tax burden.
At the Realtors Legislative Meetings, directors also discussed building membership value, the balanced budget and other key issues.
If your formal dining room goes unused, consider transforming it into a more practical space. Options include an office, playroom, gym, library or game room.
Buyers are staying optimistic and finding creative ways to save and navigate the homebuying process despite higher prices and complex mortgage options.
Real estate pros can grow their brand on Instagram by using tools like co-authored posts, Notes, Broadcast Channels and pinned comments to boost reach.
Homebuyers should vet inspectors carefully, attend the inspection, ask questions and understand that reports cover only visible issues.
A new report shows 22% of Gen Z homeowners purchased their home with a sibling in 2025. Co-purchasing outside of romantic partnerships is rising.
By investing in a clear and consistent brand identity, small businesses can enhance their competitive edge and establish a lasting presence in the market.
As of May 31, there were 1,453,690 members, well above the 2025 forecast of 1.4 million, showing Realtor resiliency in ongoing market challenges.
Experts say Florida’s property insurance market is recovering, with lower rates in some areas, more insurers and signs of long-term stabilization
Improving a credit score involves patience and diligence. Don’t borrow more than you can repay and consult with a nonprofit credit counseling agency for advice.
Rates on 30-year mortgages dipped to 6.85% from 6.89% last week, while 15-year mortgage rates fell to 5.99% from 6.03% last week.
Small bathrooms don’t have to feel cramped. Smart storage, large mirrors, glass or doorless showers and balanced décor can all make the space feel bigger.
A luxury vacation home can be a smart investment if it’s guest-friendly, well-managed and designed for rental demand, not just personal taste or resale value.
Fannie Mae’s Desktop Underwriter uses data on rent payment history, cash flow and self-employment income to help lenders identify creditworthy borrowers.
Florida Realtors Pres. Weisheyer: “Every day, Realtors in Florida promote housing opportunities and help people realize the American dream of homeownership.”
Christine Hansen was elected NAR 2026 president-elect, while Tim Weisheyer and Ines Hegedus-Garcia were named to key national liaison roles.
Elevated interest rates, tight lending standards and economic uncertainty remain persistent factors limiting construction growth, NAHB said.
Use AI to support and structure your work, not to replace the insight, integrity and personal connection that only you can provide.
Build-to-Rent homes offer a rental alternative to ownership, adding new inventory and influencing housing demand patterns in Florida’s growing markets.
Chief Economist Lawrence Yun forecasts rising home sales, prices and new-home activity through 2026, but says high mortgage rates continue to slow the market.
The nonpartisan Florida Taxwatch group said Florida’s economic growth pattern should match or surpass the national economic growth pattern for the next five years.
HELOC balances rose 7.2% in 2024 nationwide as more homeowners tap equity amid high mortgage rates and limited refinancing options.
Over a 14-month period starting in September, lenders are phasing in new appraisal reporting for all GSE-conforming loans.
Citizens had 818,000 policies in May, fewer than in past years as more policies shift to private insurers. It remains Florida’s largest insurer.
After three months of decline, Floridians grew more optimistic in May, with stronger confidence in making major purchases and in the future of the U.S. economy.
The laws speed up commercial squatter evictions and are a 2025 Florida Realtors priority. SB 322 was championed by Realtor caucus member Sen. Ana Maria Rodriguez.
To benefit the environment and your wallet, take steps to make sure your HVAC is working properly, get an energy audit, and seal leaks and cracks.
Hurricane season began June 1. Now is the time for Fla. residents to put together an emergency kit, create an evacuation plan and take other steps to prepare.
Rather than waiting for rates to drop, buyers should be looking at all monthly costs to get a picture of what they can afford, says NAR’s deputy chief economist.
Real estate pros are being targeted in a crypto scam where fake buyers build trust, show fake profits then steal large sums. The Secret Service and NAR urge caution.
House and Senate leaders have reached an agreement that enables lawmakers to begin hammering out details of a spending plan today, June 3.
Associations must maintain common elements like parking decks and may raise dues or assess fees to cover costs, including reimbursing related resident expenses.
Nearly 30% of homebuyers say a recession would make them more likely to buy, citing lower rates and less competition despite economic uncertainty.
New NAR Consumer Guides help customers understand market conditions and explore financial programs that assist with purchasing or keeping a home.
Health Plan Navigator, launching fall 2025, helps Florida Realtors members explore and compare health insurance plans on one easy-to-use platform.
Overall, consumers see the outlook for the economy as no worse than last month, but they remained concerned about the future, a new survey found.
Associations must maintain common elements like parking decks and may raise dues or assess fees to cover costs, including reimbursing related resident expenses.
Container and raised-bed gardening help families cut grocery costs as food prices climb, offering a simple way to grow fresh produce in any space.
The average rate on 30-year mortgages rose to 6.89% from 6.86% last week, while borrowing costs on 15-year mortgages rose to 6.03% from 6.01%.
Since 2016, Florida beaches have landed at the top of the list three times in list compiled by Dr. Beach, a Florida International University professor.
After you have the listing, follow a clear, confident plan to prep, present and close like a pro to turn every client into a repeat client.
Compared to one month ago, pending home sales fell in all four U.S. regions largely due to mortgage rates, NAR’s chief economist said.
A new survey showed Gen Z appears to be the most cautious and wary of high mortgage rates with an increased inclination towards signing a lease.
The bill, championed by NAR, would ensure an even playing field for buyers using their VA home loan entitlement.
Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012, the FHFA said.
Home lighting makes spaces more function and attraction and can be a benefit to mental health. Try ambient, accent or decorative lighting.
Energy-efficient home upgrades can cut utility bills, raise home value and qualify for tax credits to save money now and in the long run.
Virtual staging cuts costs by up to 97% and helps homes sell faster. Be sure to show original photos too and avoid misleading enhancements.
Tame your inbox by archiving old emails, organizing key info and regularly sorting messages to boost focus and productivity.
Choosing a niche means greater focus for the public-facing brand, but real estate pros can still work in the market where they started.
Spending on home renovations has remained resilient as mortgage rates and home prices have frozen out many would-be buyers. An aging housing stock is a factor, too.
To reduce digital mental drain, start the day screen-free for one hour. A wellness advocate says it boosts focus and reduces anxiety.
AI is now in searches, shopping, creation and other services, and real estate pros can leverage these new tools to reach customers and track advertising success.
Choosing a niche means greater focus for the public-facing brand, but real estate pros can still work in the market where they started.
After reaching its lowest level in April, Americans’ consumer confidence rose in May, with better expectations for their income, business conditions and job market.
The governor signed a bill blocking golf courses, resort-style lodges and sports facilities in state parks, a Florida Realtors 2025 legislative priority.
New single-family home sales in the U.S. rose 10.9% in April as builders offered incentives to attract buyers despite economic headwinds.
Homeowners across the U.S. hold $11T in tappable equity. Experts urge caution and understanding of loans, HELOCs and other options before borrowing against it.
Constant dog barking may be a legal nuisance. Try talking to your neighbor, then the HOA or city. Document incidents if legal action is needed.
NOAA predicts 13 to 19 named storms in the 2025 hurricane season due to warm ocean waters. Hurricane season begins June 1.
In Q1 2025, a family earning a median income of $104,200 needed 36% of it to cover the mortgage on a median-priced new home, down from 38%, the NAHB said.
A cluttered space can cloud your thinking, while calm, organized rooms offer a sense of control and mental clarity. Small changes can help.
Rates on 30-year mortgages inched up to 6.86% from 6.81% last week, while rates on 15-year fixed-rate mortgages rose to 6.01% from 5.92%.
A cluttered space can cloud your thinking, while calm, organized rooms offer a sense of control and mental clarity. Small changes can help.
The bill retains the current tax rates while including NAR-supported provisions, including a qualified business income deduction increase and the SALT deduction.
Existing-home sales slid 0.5% in April to a seasonally adjusted annual rate of 4.00 million. Sales retreated 2.0% from one year ago.
Florida Realtors Chief Economist cites still high mortgage rates as a factor, saying if they fall to 6%, it will help affordability and spur more buyer competition.
Show clients you care with thoughtful closing gifts – like a doorbell cam, household essentials or local foods – that offer safety, comfort and convenience.
Today, buyers are likely to be more discerning and less willing to pay as much of a premium for a home with a pool than during the pandemic.
Form Simplicity has been named a Top 5 Transaction Management Systems on the Tech 200, honoring the top tech products for brokerages, teams and agents.
In 2024, Florida saw 143 million visitors, an increase of 1.7% over 2023. The state has welcomed 41.2 million visitors in the first quarter of 2025.
The law, which will take effect July 1, extends by one year the deadline for structural-integrity studies, which currently must be completed by Dec. 31, 2025.
The University of Michigan said consumer sentiment fell to 50.8 in May, hitting its lowest since 2022 on inflation fears and trade policy uncertainty.
New home mortgage applications rose 5.3% nationwide in April 2025 from last year, hitting the highest level since 2012, signaling stronger new home sales.
Sabal Sign offers an easy mobile-friendly e-signature platform in Form Simplicity to help Florida Realtors members streamline workflow.
Three tech scams — fake SSA emails, Gmail alerts and Mac updates — are circulating. Experts warn to be alert and not click suspicious links.
Homeowners who use a cash-out refinance for renovations should weigh the pros, cons and alternatives before tapping into home equity.
After someone dies, probate helps distribute their assets. If there’s no will, state law decides. Children may inherit the home and choose to keep or sell it.
Moderating borrowing costs, along with a rise in for sale signs, appear to be luring prospective buyers off the sidelines nationally, NAR said.
Moving into your first Florida rental? Ask questions first because the terms may be different than you expect or are used to.
Single-family new construction fell 2.1% in April on high mortgage rates, tariffs and costs, while overall starts rose 1.6% on multifamily growth.
As home supply remains constrained, homebuyers across the country seek alternatives with many first-time buyers pursuing new construction
Moderating borrowing costs, along with a rise in For Sale signs, appear to be luring prospective buyers off the sidelines nationally, NAR said.
The Florida House voted to extend the session through June 30. The Senate has not yet voted, as budget discussions between chambers are still ongoing.
Voice technology is emerging as a powerful tool by reinforcing the role of real estate professionals with smarter support.
NAR’s new Consumer Guide explains estate planning basics, helping homeowners protect their property and plan for the future with tools like wills and trusts
Home decor is embracing playful, produce-inspired designs as a nod to nature, sustainability and nostalgia, driven by trends and wellness culture.
Buyers should review finances, be prepared to act quickly, work with an agent and consider long-term value to success in today’s market.
Before listing a home, boost the potential value with small changes, such as upgrading cabinets, new paint and decluttering.
Voice technology is emerging as a powerful tool by reinforcing the role of real estate professionals with smarter support.
Buyers with moderate incomes can afford only a small share of listings, with slight gains in affordability, a NAR survey found.
The average rate on a 30-year mortgage increased to 6.81% from 6.76% last week while rates on 15-year mortgages ticked up to 5.92% from 5.89%.
Designers say using color blocks with trim can refresh spaces without full repainting. Stick to 2-3 colors for cohesion and consider paint maintenance.
Homeowners are prioritizing spa-inspired features like therapeutic showers, smart tech and natural materials to create calming, low-maintenance bathrooms.
Mortgage rates affect home affordability and long-term costs. Rates vary by economy, loan type and borrower credit. Lower rates can save money.
Commercial real estate investment rose to $92.5B in the first quarter of 2025, driven by single-asset deals. Industrial and multifamily sectors saw strong growth.
Builder confidence fell to 34 in May, the lowest since 2022, amid rate, tariff and cost concerns. The NAHB said 34% of builders cut prices.
Reverse mortgages may be a good fit for some people 62 or older who own their home and live in it as a primary residence, but owners should do their research.
Multifunctional furniture, hanging baskets, trellises and other vertical gardening items can turn balconies, patios and small spaces into personal retreats.
First-time homebuyers should be prepared for various expenses, including the down payment, primary mortgage insurance, closing costs and moving costs.
The Fla. Hurricane Catastrophe Fund provides relatively low-cost reinsurance to insurers to help pay claims if the state is hit by one or more major hurricanes.
A new report sounds the alarm on who is increasingly at risk and what real estate pros can do to help clients be aware and stay safe.
Clutter drains focus and fuels stress. Experts say decluttering in small steps – physically and digitally – can boost productivity and peace.
Entrepreneurs can grow by using AI, seeking fast capital from lenders and joining incubators for funding, mentorship and fresh ideas.
Going viral boosts sales and brand power. Pick one platform, create consistent, valuable content and use strong hooks to keep audiences engaged.
AI is transforming business with automation and advanced tools like chatbots and deep learning to boosting efficiency and reshaping workflows.
A new U.S. tax reform draft bill includes major wins for real estate, preserving key deductions and credits long backed by NAR, such as SALT and QBI deductions.
Buying a home with friends? Be clear on goals, share finances openly, consult experts and plan for exits, co-homeownership pros say.
Younger renters want stylish, amenity-filled apartments that streamline life, boost well-being and offer community – redefining renting for the digital age.
Some home sellers may be turned off by personal letters from buyers. Experts say there are better ways to make your offer stand out in a competitive market.
A survey found more residents said they would evacuate their homes if ordered to do so this year – 77%, compared to 73% ahead of the 2024 season.
Success in real estate comes from strong systems – build repeatable processes, plan with intention and lead with purpose to grow a lasting business.
Keep LinkedIn company pages active by assigning admins, posting weekly and sharing a mix of industry news and company updates to boost engagement.
Developers are remaining cautious about starting new projects, especially mid/high-rise and condominium projects, the NAHB said.
NAR released three new Consumer Guides on title fraud, fair housing and mortgage interest deductions to help buyers and sellers make informed decisions.
Keep LinkedIn company pages active by assigning admins, posting weekly and sharing a mix of industry news and company updates to boost engagement and visibility
Developers are remaining cautious about starting new projects, especially mid/high-rise and condominium projects, the NAHB said.
A neighbor can’t attach to a fence without permission. If their dogs bark all day, ask them to fix the issues, then go to your HOA or animal control.
The Labor Department will use older guidance to assess workers under the FLSA for enforcement while reconsidering the current rule.
NAR released three new Consumer Guides on title fraud, fair housing and mortgage interest deductions to help buyers and sellers make informed decisions.
More than 80% of U.S. metros saw price gains in Q1 2025, with 11% of areas experiencing double-digit increases. The national median price grew 3.4% year-over-year.
New construction homes are offering a price edge, with smaller builds, lower rates and shrinking premiums, Realtor.com found.
Rates on 30-year mortgages stood at 6.76% for the second week in a row, while 15-year rates dipped slightly to 5.89% from 5.92%, Freddie Mac said.
Decorative shutters can boost curb appeal and home value. In Florida, storm shutters offer protection, while decorative ones enhance style.
Kitchen, bath and deck upgrades can offer high ROI in Florida. Curb appeal, smart timing and budgeting help boost home value in a strong market.
The 2025 Atlantic hurricane season begins June 1, with 21 storm names selected. Van, Dexter and Wendy are among the new additions to this year’s list.
Florida ranks No. 1 for economy, No. 2 in education and No. 6 overall in U.S. News’ Best States list — up three spots from last year.
The Federal Reserve held interest rates at 4.3% and noted rising risks of inflation and unemployment. Interest rates influence mortgage rates.
Florida ranks No. 1 for economy, No. 2 in education and No 6 overall in U.S. News’ Best States list — up three spots from last year.
Carpeting can be a budget-friendly renovation option that adds warmth and comfort, with materials and costs varying by room and traffic level.
By streamlining processes and finding efficiencies, you can find the time to focus on revenue-generating activities.
Some Florida cities offer some of the largest new apartments in the U.S., with average unit sizes growing as renters seek more space in the Sunbelt.
Florida lawmakers are discussing five proposals for property tax reform for a possible constitutional amendment in Nov. 2026.
Sale pending means a home is under contract but not sold. Deals can fall through due to financing, repairs or paperwork, so backup offers might still be considered.
ADUs add value, offer passive income and provide space for family or rental use, but they require careful planning, permits and professional help.
Updates to Sarasota’s watershed plans aim to improve flood prevention and could boost NFIP insurance discounts for local property owners.
About three in 10 agents reported a 1% to 10% increase in home value when homes were staged, NAR found. Nearly half of sellers experienced faster sales.
Lawmakers are discussing five proposals for property tax reform for a possible constitutional amendment in Nov. 2026.
Americans show strong support for NAR–backed tax provisions as real estate pros get ready to take key policy messages to Capitol Hill.
To avoid clutter zones, do one load of laundry at a time, designate a hook for wear-again garments or create a wear-again zone in the closet.
ChatGPT is evolving fast — now handling text, images and audio, and widely used in businesses, homes and school — making AI more useful than ever.
Builders are offering more incentives amid slower sales and rising costs, creating new opportunities for buyers this spring.
The national housing market is turning more buyer friendly as home price growth slows and inventory rises, giving buyers more choices and greater purchasing power.
Global insured losses from natural disasters may reach $145B in 2025, driven by secondary perils, with losses potentially surpassing $300B in severe events.
Florida Realtors secured condo, flood and rental reforms, among others, as lawmakers extended the session to finalize the state budget.
Florida law lets condo owners install EV chargers in their spots but at their expense and without requiring the building to upgrade its electrical system.
Experts urge homeowners, renters and businesses to prepare now for a forecasted above-average 2025 hurricane season starting June 1.
Florida cities like Groveland, Celebration and St. Cloud saw major growth from 2014–2023, driven by housing, jobs and access to self-storage.
Homeowners gained $3T in equity in 2024. A HELOC might help in short-term crises, but weigh risks, alternatives and timing before tapping your home’s value.
AI is reshaping jobs and boosting efficiency, but organizations must focus on communication, training and growth to ease workplace concerns and build trust.
Luxury custom homes in 2025 could feature smart glass, virtual fireplaces, grand water features, hurricane-rated doors, skylights and gold accents.
Agents are using Instagram Reels to showcase local brands and community connections to build trust and position themselves as experts.
As inventory rises and listings sit longer, agents must sharpen communication, pricing and marketing skills to guide sellers and stand out in a shifting market.
Rates on 30-year mortgages fell to 6.76% from 6.81% last week, while 15-year mortgage rates dropped to 5.92% from 5.94%, Freddie Mac said.
Architects and builders are moving towards designing flexible homes with separate living spaces to accommodate the needs of extended families.
Pres. Biden declared a major disaster in 13 Fla. counties so far. Floridians can apply for help from FEMA, which might also help offset insurance deductibles.
Here’s a list of most Fla. insurance companies – their websites, phone numbers and any other pertinent post-disaster information.
On Thursday, Fitch Ratings estimated that the total insured losses from Hurricane Ian’s trek across Fla. will be somewhere between $25B and $40B.
Calling on-time rent payments a good indicator of reliability, the FHA commissioner says first-time buyers may be able to include them for loan consideration.
Some Fla. counties have been identifying corporate ownership in RE sales, but FinCEN will now fight money laundering by creating a U.S. corporation-ownership database.
An emergency order bans Fla. property insurers from dropping customers for the next two months as the state cleans up after Hurricane Ian’s visit.
The Dept. of Economic Opportunity activated the Business Damage Assessment Survey. Results will help federal, state and local agencies offer appropriate relief.
A 30-year, fixed-rate mortgage averaged 6.7% this week, another notable increase from last week’s 6.29%.
The storm has gone – what comes next? Here are the important benchmarks for an insurance claim, which can also be accessed in an easy-to-understand infographic.
Many Fla. real estate licensees who faced a Sept. 30 deadline to renew their license now have an additional month under an emergency order signed by DBPR.
The U.S. consumer safety commission issued a warning: Floridians who lose power and rely on generators can die in minutes if a generator isn’t properly ventilated.
A Fed study found that every 1 percentage point increase in remote work resulted in about a 0.9 percentage point increase in housing prices.
The Fed says its rate hikes will “reset” the housing industry, but the disruption may come largely from buyer-seller confusion. If confused, people tend to do nothing.
Chief Economist Yun blames rising mortgage rates, saying the market will stabilize if “mortgage rates moderate and the economy continues adding jobs.”
Buyers who need property insurance to close are out of luck while a hurricane threatens Fla., but many insurers expect to start writing policies again on Mon.
What if a buyer and seller sign a contract but the buyer fails to submit the agreed-upon deposit? Some Realtors think the seller is then free to relist the property – but if they call the Legal Hotline to confirm it, they find the issue isn’t quite that simple.
There’s often more than one way to interpret a rule. When warring sides can’t agree, it’s up to a judge, jury or panel to decide.
Florida Realtors Legal Hotline is a great resource and free member benefit, but you may not need us. Many callers ask basic-information type questions, like, “There are so many riders – which one should I use?” Here are answers to your simplest questions.
During negotiations, a listing broker created a dual (variable rate) commission arrangement on the fly and reached an agreement. But they didn’t have time to disclose that change to a potential cooperating broker. Does the Code require disclosure every single time, no matter what?
Property managers and other real estate professionals should follow these steps to stay in compliance with federal and state consumer data regulations.
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.
The Conference Board credits “jobs, wages and declining gas prices” for the 4.4-point Sept. rise. Both current outlooks and future expectations increased.
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.
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.
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.
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.
Boston Fed official acknowledged “apprehension about the possibility of a significant downturn,” but says “a more modest slowdown, while challenging, is achievable.”
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.
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.
A successful promotion takes planning. It should start with a two-week launch strategy that boosts content such as reels, videos, stories, etc.
In South Fla., median prices fell a bit in Aug., and many licensees see that as a good thing after months of price increases that were “neither normal nor sustainable.”
Most buyers want a house, not a new project. But some eventually opt for a fixer-upper due to buying frustrations and the realization that sweat equity can be profitable.
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.
Teachers, police and nurses should be able to buy a home in the communities they serve. Amendment 3’s new property tax break can help make that happen.
Florida Realtors economist: If market changes challenge Realtors, sellers’ heads must be spinning. Use SunStats to help clients understand what’s going on.
A tree will soon symbolize your Realtor membership. In partnership with the National Forest Foundation, NAR will plant more than 1.5M trees by 2025.
NAR and other real estate groups met at the White House Wed. for a “candid discussion” on construction, zoning reforms, financing expansion and tax incentives.
Fla. wants to minimize the number of policies in state-operated Citizens Property Ins., but the number has skyrocketed and plunged over its two-decade existence.
When home prices were rising, the iBuyer made “easy profits,” but some think its losses now – 42% of all its Aug. sales – mirror Zillow’s failed iBuying venture.
Fed Chair Powell hoped for an economic soft landing but said it’s increasingly unlikely. “I wish there were a painless way to (get inflation down),” he said. “There isn’t.”
The average 30-year, fixed-rate mortgage didn’t spend much time hovering around the 6% mark. It rose 0.27 percentage points this week, up from last week’s 6.02%.
In a fight to curb inflation, the Federal Reserve pushed rates higher and will likely do so again. It impacts mortgages indirectly, but rates are still expected to move higher.
On July 16, the National Suicide Prevention Lifeline switched from a full phone number to just 3 digits: 988. After the number upgrade, call volume rose 45%.
Airbnb guests don’t hold back on social media, complaining about costs, amenities and more. Now Airbnb owners are starting to complain about their guests.
National sales declined for the seventh straight month, down 0.4% from July and 19.9% year-to-year. The median home price is still rising, however, up 7.7% in Aug.
At 10.7%, Orlando came closest to the national year-to-year rise of 11%. It was 10.3% in S. Fla. counties – and median rents actually fell 1.8% in Jacksonville.
Florida Realtors: Fla.’s single-family median price up 15% ($407K), condo median up 20.8% ($305K). Chief Economist: Inventory is growing but pace has slowed.
Some sellers have always opted to rent out their old home rather than sell, but skyrocketing rents have pushed even more into that landlord category.
The nation’s consumer bureau (CFPB) found a drop in refinances and increase in buyers, with all minority groups gaining ground in the share of homes purchased.
Many homeowners want to upsize or downsize, but an estimated 20% stay in place to avoid replacing their current low mortgage rate with a higher one.
The homebuilders’ confidence index dropped from 49 to 46 this month, where any number below 50 indicates that pessimism outweighs optimism.
Single-family home starts rose 3.4% last month and are down 4% for the year. But Aug. multifamily starts – apartments and condos – surged 28%.
While the market is shifting, homes are continuing to receive multiple offers. Agents should prepare clients for it and find out as much as possible about the property.
The NAR Spire program pairs real estate pros in underserved areas with experienced practitioners to help them explore and expand their business opportunities.
Older homeowners looking to downsize can help eliminate surprises by getting a realistic picture of what their house might sell for and what smaller homes might cost.
About $54.5M is available to groups serving unhoused people in rural areas, which saw unsheltered homelessness increase by 8.3% from 2019-2020. Deadline is Oct. 20.
Even as the housing-price runup slows, middle-class buyers – in the West and elsewhere – are still struggling to find a home they can afford where they want to live.
Fed survey: Consumers expect the annual inflation rate to be 5.7% a year from now, beating the 6.2% expectation in July – and they’re more optimistic about the future.
Real Estate Q&A: The condo board hired a firm to remove iguanas from common areas. Can they do that without a vote? Yes, under the “business judgement rule.”
NAR: The median donation was about $12K last year; it was $10K in 2020 and $5K in 2018. 2 out of 3 Realtors (66%) volunteered monthly, spending 8 hours on average.
Many agree inflation is still on track to ease some this year and much more in 2023. But factors like rent, food prices, wages and interest rates may affect the pace.
Facing higher home prices and rising interest rates, some buyers are now turning to adjustable-rate mortgages to bring down their costs, at least initially.
Successful teams engage in frequent communications with upper management. Agents should be coached on lead generation, conversion strategies and more.
NAHB: More single-family and multifamily construction is occurring in lower-density markets, in part because of affordability issues and hybrid work patterns.
A good first step: Introduce yourself to local business owners, make connections and obtain their contact information or business card. Follow-up with an email, too.
The voluntary program will allow the city 6o use over $3.9M from the Fla. DEO to buy 21 homes in areas that now flood often after Hurricane Michael in 2018.
County governments in Fla. should see record jumps in the taxes they’ll collect after the hot–market months of 2021 – those property sales will set 2022 value.
Some drivers of higher inflation like rising gas prices, supply chain snarls and higher used-car prices are fading. Yet other measures of inflation are getting worse.
Early Thurs., it was moving at 13 mph with max sustained winds of about 50 mph. It’s on a path to threaten the Virgin Islands and Puerto Rico this weekend.
Freddie Mac: 30-year rate rose to 6.02% from 5.89% last week – it’s more than doubled since a year ago. Rising interest rates continue to sideline homebuyers.
NAR: First-time buyers comprised 34% of all home buyers in 2021 and the share is rising. Real estate pros can help them understand the market and manage expectations.
With more people moving to Fla. because of remote work options alongside retirees, greater demand for housing may result in more competition and higher prices.
Fla. Supreme Court will decide if a Sarasota County resident was entitled to a full homestead property-tax exemption after renting 2 bedrooms to tenants.
A recent Fannie Mae survey found just 17% of Americans believe it’s a good time to buy a home. But what happens if buyers wait? How can they better prepare?
The state-backed insurer of last resort has 1.047M policies, up about 17K policies from the week before. Since Feb., 5 private insurers have been deemed insolvent.
Realtor.com: Despite rising interest rates, fall is the best season to buy for hopeful homebuyers when it comes to home prices, competition and inventory.
These measures are different, but both affect search engine optimization and help determine how a real estate agent’s website will stand out.
HouseMethod: Fla. yards average about 11,043 square feet per home, less than half of U.S. average lot size of 25,240 square feet. Meanwhile homes are getting bigger.
Fla. citrus growers are using 32,046 fewer acres than last year, down about 8%. It’s 53% less than growers used 20 years ago, partially due to development pressures.
Some experts expect a “globally synchronized housing market downturn” over the next 2 years, as factors like interest rate hikes and inflation impact households.
Falling prices for gas and cheaper used cars slowed inflation, though consumer prices still rose 8.3% in Aug. Prices rose 8.5% in July and at a 9.1% peak in June.
A panel OK’d a proposal to spend $1.5M to look at alternatives for insurers to get adequate financial ratings. Options may include creating a public rating agency.
It’s good for business. Most baby boomers and millennials search for property online and nearly 50% of RE firms say social media produces the highest quality leads.
Study: Nearly 1/3 of Americans between 18 and 25 now live at home with parents or relatives – maybe because of the pandemic, maybe due to an ongoing cultural shift.
RE Q&A: It’s complicated. Find out who owns what by examining your home’s ownership history, its “chain of title,” and also probate your deceased relatives’ estates.
Rising land prices around Orlando are pushing development outward to Lake County. As a result, farmland and a rural way of life are diminishing.
Experts say that high prices could be around for a while because inflation in services like transportation, recreation, food services and more haven’t peaked yet.
Black Knight: Home prices fell 0.77% between June and July – the largest monthly decline since Jan. 2011 and the first monthly drop of any size in 32 months.
She’s charged with 2 counts of third-degree grand theft, organizing a scheme to defraud and doing real estate without a license. Another suspect remains at large.
As insurance providers in Fla. leave the market and some companies fold, residents themselves are footing the bill from companies pulling out of the state.
Contractors have launched an appeal in a legal battle about part of a new Fla. property-insurance law that restricted attorney fees in disputes about claims.
Redfin analysis: On average, U.S. homes bought in Aug. sold for less than what sellers were asking –that hasn’t happened since at least March 2021.
Research shows Pinterest has 433M users per month; using it helps agents establish themselves as experts, build community interest and share content with consumers.
Experts say borrowers stand to save from around $1,500 to $3000 by comparison shopping and gathering multiple quotes from lenders.
More renters without ownership expectations will give up deposits to use paint colors they like, though a growing industry sells items like temporary wallpaper.
Yelling “Stay safe!” to an agent meeting a first-time client at a listing isn’t enough. Brokerages need to make safety part of their standard operating procedure.
Many companies want employees back in the office, but with unemployment low, employees are in charge. Many are using carrots – not sticks – to get workers back.
Foreclosure bans ended a while ago, but starts are just now approaching pre-pandemic 2019 levels. But 2019 foreclosure starts were also historically low.
Florida Realtors economist: Active inventory is up 68% year-to-year, but largely at higher price points as listings in the $150-$300K range continue to contract.
Freddie Mac reports a second-week surge bearing down on 6% after last week’s reported increase to 5.66%. A year ago, the 30-year fixed rate mortgage average was 2.88%.
Homes are more expensive along streets with the words Beverly, Third, Brickell, Bayshore or Island. But Timber or Knoll street homes took longer to sell.
Rent can automatically be included in credit scores via a new beta test rolled out by Experian. The company says it improves qualified renters scores by 14 points.
The association made small changes to the Buyer’s Disclosure Statement, Independent Contractor Agreement, Referral Agreement, Contract to Lease, Contract for Residential Sale and Purchase (CRSP), Vacant Land Contract (VAC) and residential listing agreements. It added an Appraisal Gap Addendum.
Nationally rents rose 14% in July year-to-year, down from June (15%) and May (16%) – and some Fla. cities have seen a decline, though it’s much smaller.
A Legislative budget commission will consider more than 230 local projects after 971 funding requests, though none vetoed in the latest budget will be considered.
Technology has taken some pressure off writers bereft of ideas by aggregating recent headlines and suggesting blog topics based on preferred keywords.
A condo dweller says a faulty valve in the unit above him flooded his home – but the owner above him has no insurance. Must he sue to recoup damage costs?
Mortgage bankers say a mortgage payment in the second quarter was 1.5 times higher than asking rent – but rents keep rising and buying locks in financial certainty.
Faced with a low inventory of for-sale homes, investors are building for-rent single-family homes – a new-home niche up 91% year-to-year in the second quarter.
Ratings-company Demotech has the indirect power to shut down insurers if it lowers their grade, and its future is being reconsidered after it dinged 17 companies.
In a study heavily weighted for affordability, Fla. “unsurprisingly took the top spot,” while Alaska, despite its affordability, came in last.
Compare your current business to earlier months. What’s different? Once you figure out a baseline, adjust habits and marketing to accommodate the change.
NAREIT: In spite of growing concern about a slowing economy, demand for commercial real estate remained healthy across most sectors in the second quarter.
In June and July, 12% of mortgage borrowers opted for an ARM – a money-saving tactic that offers a bit more risk. And it’s not just used by lower-income buyers.
Of 10 Realtors NAR recognized for charitable work in 2022, two live in Fla.: Debbie Miller from Lakeland and MaliVai Washington from Jacksonville Beach.
HUD’s Secretary said higher FMR limits will expand housing opportunities. Based on location, Fla.’s starts at $623 for an efficiency and goes to $3,433 for 4 bedrooms.
The MLS property description says the property includes the washer-dryer. However, the contract does not. A large percentage of Legal Hotline callers ask this “Does it stay or go?” question.
Some apps that can make life easier are worth 30 minutes of learning. Also, if possible, simply: Only use easily organized communications, such as texts and emails.
Under a HUD consent order, a Fla. RV park owner will pay $45K and boost fair housing efforts after asking a transgender tenant to hide the transition in public areas.
Homes were overpriced in early 2022 – so is the current market a housing recession or just a market correction? Experts disagree and it’s too soon to know.
An agent who never wants to work with a specific listing broker again gave a seller their honest assessment – and the broker filed an ethics complaint. How is it a violation to give a seller honest advice?
Found a sunrise photo from your community that is so beautiful it makes “life in paradise” appear almost magical? It’s ideal for marketing? If so, don’t use it. Get up early and take your own sunrise photo. Copyright issues often create expensive headaches.
First-time Black or Hispanic homebuyers in select U.S. neighborhoods, including Miami, can qualify for a no-down payment, no closing-cost mortgage loan.
The law bans Citizens from offering “replacement costs” of more than $700K ($1M in Miami-Dade), but regulators may raise that cap in at least some counties.
Freddie Mac says the second notable increase in as many weeks comes “at a particularly vulnerable time for the market as sellers recalibrate their pricing.”
For the most part, associate rights and obligations spring from the terms of the independent contractor agreement they have with their brokerage firm.
Sphere of influence (SOI) is a code word for “the source of most sales.” A strong, organized database makes the most of the names in that list.
Do-it-yourselfers and remodelers now have their own sales-tax free Fla. holiday. From Sept. 2 to Sept. 9, there’s no state sales tax on tools, work gloves, etc.
NAR’s latest program expands their “That’s Who We R” campaign by empowering each member to explain the Realtor benefits to family, friends and customers.
When demand outstrips supply, more sellers try to save money by going it alone – but FSBOs dropped to 7% in today’s unstable market, a level not seen since 1981.
Contractors challenged an assignment of benefits (AOB) change passed in May by the Fla. Legislature, but the judge said people named aren’t “proper defendants.”
Someone filed paperwork with Fla.’s Division of Corporations, changed CEO status, took out loans and sold property. The owner found out after trying to pay taxes.
Some clients aren’t a good business fit; others are simply unpleasant. Learn to identify the traits that don’t work for you and find ways to avoid those people.
Nonprofits can apply for HUD grants that help older low-income adults modify their homes, allowing “our nation’s seniors to age-in-place with dignity.”
Overall U.S. consumer confidence rose over 8% month-to-month in August. Attitudes about current conditions moved higher for the first time since March.
Homeowners adding solar panels study energy savings and break-even costs, but they should also call their insurer: Some increase premiums and some cancel policies.
The August index from UF rose 4.1 points to 65.2. All five components in the larger index moved higher, with a notable rise in future expectations.
Of 100 metros tracked by government-backed mortgages, 8 Fla. cities hold top-11 spots, with Sarasota-Bradenton (up 36.5%) and Cape Coral-Fort Myers (36.0%) at the top.
The Realtors Relief Foundation is donating funds to the Missouri Realtors after flooding in St. Louis and Charles. The money helps victims pay housing expenses.
For many people, “recession” just means “slowing economy.” Two negative-growth quarters suggest one, but an obscure group of economists must verify it.
New Orleans tried to limit short-term rentals by requiring license holders to live full-time in the lots they rent – but the court said that violates the Constitution.
A study of recent homebuyers found 1 in 4 (22%) unsatisfied with the experience: 30% went over budget and 20% bought in a less-desirable neighborhood.
Rising prices and mortgage rates deter homebuyers, but for many, the rapid changes are simply disconcerting. It makes them wonder what will happen next.
Agents constantly meet up with strangers, aka “possible clients.” The job comes with a certain amount of risk, and agents should constantly consider their own safety.
Company focused on technology for insurance says more homeowners have long-term worries about climate change, with 3 in 4 (72%) of young adults most concerned.
Fla. homeowners who have coverage with St. Petersburg-based United Property & Casualty Insurance Co. must soon find a new provider.
Buyers may want to think twice about nixing the inspection contingency. A study found that 94% of sellers admitted that they didn’t disclose a known issue.
Fed Chair Jerome Powell said Americans should expect more large interest-rate hikes in the coming months, one of the “unfortunate costs of reducing inflation.”
The governor addressed over 700 Realtors during Florida Realtors Convention & Trade Expo and received Florida Realtors PAC’s endorsement for his re-election.
Many areas need more housing units to fill a shortage, but the new-home industry is slowing for a variety of reasons, such as higher mortgage rates and wary buyers.
In some locations, prices will likely flatten or perhaps dip as much as 5% – but even with a slight drop in July, home prices were still up 10.8% year-to-year.
The rate for a 30-year, fixed-rate mortgage rose almost half a percentage point (0.42%) this week after hovering just above 5% for a while.
Cheryl Lambert, 2021 president, is the 2022 Realtor of the Year. All award winners were recognized Thurs. at the annual convention’s in-person Awards Luncheon.
On social media, an agent praised a group of bipartisan lawmakers who passed a favorable real estate bill – but comments weren’t bipartisan and the post took off.
A frustrated condo owner reports frayed carpet, peeling wallpaper and dirt, but her requests for action go unheeded. How can she force the fixes?
The agency that oversees most U.S. mortgages wants an advisory board to help FHFA achieve its goal to create affordable, equitable and sustainable housing.
The company strived to be No. 1 and once churned out a third of all U.S. mortgages. But it’s cutting ties to outside lenders after years of regulatory struggles.
Fannie Mae expects a 16.2% drop in home sales year-to-year in 2022; one month earlier it predicted 15.6%, but “housing remains clearly on the downtrend.”
Bank of America’s CEO says it doesn’t matter if the U.S. is officially in a recession because most consumers are in good shape and can withstand economic turbulence.
While small, 1% is the second monthly sales drop in a row, with 8 in the past 9 months. Year-to-year, contract signings fell by double digits in all four U.S. regions.
Clients who feel appreciated – especially over and over again – often feel a bond and recommend their Realtor to family, friends and others.
The U.S. has 1.1M vacation rental properties and while investors seeking top returns often focus on tourist destinations, some smaller unexpected cities also work.
NAR: Housing affordability reached a 33-year low in June, according to NAR data – but an inventory increase and stabilizing mortgage rates may help.
Seller-financed land-installment contracts give low-income buyers a shot at homeownership, but they don’t get the deed for 30-plus years and seller abuse is common.
The 29.6% year-to-year decline is slowest pace since 2016. NAHB says “higher prices and increased interest rates are generating a notable slowing” in the market.
Miami is slated to get almost 20K new apartments this year as multifamily construction cranks up. Also on the top 20 list for newly built units: Orlando and Tampa.
The Fla. DOE says Fri. is the last day registered homeowners can apply for HAF aid; they plan to spend the full $676M based on applications received by then.
On Facebook, people don’t usually come to you – you have to draw them in. They must choose to keep returning because they find your page interesting.
Groups like Habitat for Humanity work directly with buyers, but an Oregon non-profit plans to build modular, affordable homes in a factory.
The U.S. may or may not go through a recession, but business owners are preparing for the possibility by reevaluating budgets and cutting unneeded spending.
Two Baltimore professors who wrote books on Jim Crow laws removed all evidence of their race from their home and a second appraisal came in $278K higher.
In the S. Fla. area, many sellers still want to list their home at the high end, but they’re also starting to understand the new rules with this changing market.
The pandemic uncovered weaknesses in U.S. manufacturing and a dependence on foreign nations, but a push to bring industry back home will help the commercial RE market.
Study: Jacksonville’s rents rose only 3.6% year-to-year in July, but they were up 17.8% in three S. Florida counties. Nationally, rents were up 13.5% year-to-year.
The pandemic-created love for outdoor spaces continues, though a survey of home designers found a drop in demand for pools, solar panels and smart home features.
Rather than buy a mobile home and rent the land, a Zephyrhills developer will rent both for one price – about $1,750 per month for a 3 bed/2 bath home.
NAR: The original proposal included tax changes that would have hurt real estate investors. However, the final signed version leaves the industry largely untouched.
The Realtor app that generates buyer and seller reports was updated. The new version goes live Tues., and members need to update the RPR Mobile app on their devices.
Credit scorers, lenders and other financial firms that collect personal data have a duty to keep it safe – and a liability if they don’t – the U.S. consumer bureau says.
Properties didn’t stay on the market long (14 days), prices climbed 10.8% year-to-year, and inventory is starting to grow in the face of higher mortgage rates.
NAHB’s multifamily survey found mixed results in the second quarter, as a drop in optimism for condo builds overshadowed an increase in outlooks for apartments.
Rates appear to have hit at least a temporary plateau in the low 5% range. Last week, the 30-year, fixed-rate mortgage averaged 5.22%.
Florida Realtors: Fla.’s single-family median price up 16.1% ($412K), condo median price up 20.6% ($305K). Mortgage rates, prices impact sales, and inventory is up.
In a slower market, buyers and sellers shop for a Realtor who listens, advocates for them and knows the business inside and out.
Renters usually cut back expenses to save for a down payment, so downsizing their apartment to one less bedroom might get them into a house within a few years.
In Canada and Australia, the screening system led to a 35% drop in parties after considering things like weekend dates, renter proximity and their Airbnb history.
Three national nonprofits will split the money: Habitat for Humanity ($9M), Enterprise Community Partners ($15M) and Local Initiatives Support Corp. ($17M).
Investors consider a 60/40 stock/bond portfolio standard, but real estate has provided solid returns over the past 12 months, convincing many to diversify.
Studies find rent control is a short-term solution that creates long-term problems. Florida Realtors has filed a lawsuit against Orange County to block a proposal.
Strangers coming into their house? Remind sellers to hide valuables, prescription drugs and kids’ photos – and to check window locks after each buyer’s visit.
Solar energy can save a homeowner money – but it will also first cost them for the installation. They should weigh all pros and cons before committing to an upgrade.
A homeowner had a falling out with a next-door neighbor, but it didn’t end there. He now has a floodlight directed into his home and sees other irritating behaviors.
Bubbles pop, and even with too-high home prices, “The housing market today is a far different beast than what we saw in the mid-2000s,” says economist Nicole Bachaud.
Single-family starts decreased 10.1% to the lowest reading since June 2020. Multifamily also fell (8.6%) but ongoing construction is up 24.8% year-to-year for 5-plus units.
About 16.1% U.S. home contracts fell through in July, up from 15% in June and 12.5% a year earlier. Of the top 10 city backout rates, 6 were in Fla., with Jacksonville No. 1.
In Pennsylvania, scammers claiming late taxes use Dept. of Revenue letterhead, demand accounting records and tell businesses to call a “resolution officer.”
Homebuyers priced out of the market due to rising interest rates are now competing with current renters when looking for available properties.
Increases in Miami (up 36.2%) and Honolulu (up 23.5%) reflect remote work trends, but 8 cities with “top 10” price increases are ones with still-affordable housing.
ORRA survey: 74% see a slowdown and 66% think the market peaked. Faced with wary buyers, one agent suggests a refinance later: “Marry the home; date the rate.”
Insurer-rater Demotech didn’t downgrade as many insurers as feared, and some it did downgrade brought scores up. Main fear now: A rough hurricane season.
NAHB’s monthly survey of builders’ attitudes turned slightly negative this month. It’s the first negative reading since May 2020, the first month of pandemic lockdowns.
The final walkthrough is often the ideal time for stressed buyers to get upset, and agents should prepare them for imperfections that can show up in now-empty rooms.
A reverse mortgage helps older adults use equity to remain in their home, but higher interest rates, lender rebates and FHA mortgage insurance deplete tappable equity.
Renters are still being scammed by a fake “landlord” that doesn’t actually own property – but problems can get even worse if real landlords don’t find out right away.
Only 42.8% of Americans with a median income could afford a median-priced home in the second quarter of 2022 – a sharp drop from 56.9% in the first quarter.
Citizens Property Insurance Corp. hasn’t had 1M policies since 2014, and the latest surge comes despite strong efforts to lower Fla.’s potential liability.
A fixer-upper is ideal for buyers willing to invest sweat equity and live in less-than-ideal conditions. In Fla., Miami and Jacksonville rank high for fixer-uppers.
Is single-family zoning good or bad? It’s a hot issue, but affordable-housing advocates say it’s one of the problems, and Gainesville might nix it altogether.
Last week, mortgage rates dropped below 5%; this week, they changed direction. One year ago, the average 30-year, fixed-rate mortgage averaged 2.87%.
Many consumers randomly watch YouTube videos, and engaging Realtors who can entertain and even be funny can build their online audience.
Small biz owners can live on hope – hope that future deals and success will automatically create a retirement nest egg. But they need a better plan now.
Discrimination tends to find loopholes. In the 1960s, Blacks bought homes using a land contract – but sellers held the deed and could evict for one missed payment.
NAR: Median home prices in the second quarter were up 14.2%, but Fla. saw bigger gains: Of the top 10 U.S. metros for home-price increases, Fla. had 7 ranking cities.
It’s not this simple, but the core advice? Regularly repeat behaviors that work – and stop doing the things that don’t.
Through the “Bridging the Gap” program, HUD hopes to give historically left-out people help to improve their credit, save resources for homeownership and build wealth.
Year-to-year, U.S. prices rose 8.5% in July compared to 9.1% in June. Most of that savings – though not all – resulted from falling gas prices.
From mid-March to early April, credit-scorer Equifax gave faulty info to lenders, and some borrowers may now be paying higher monthly payments than they deserve.
Rent.com: $1,769 is a 39% year-to-year increase. The nationwide average monthly cost for a two-bedroom rental in August is $2,105, a 38% increase year-to-year.
Buyers, sellers and Realtors feel less pressure as bidding wars decline, listings remain on the market more than a week, and open houses no longer generate waiting lines.
Salespeople usually thrive on competition, and rewards for success can include anything from tech tools or marketing help to company-paid vacations.
60% of Realtors are women but they hold fewer leadership positions. To change that, the Women’s Council of Realtors offers grants for “new and innovative” programs.
California, Connecticut, Georgia, Mississippi and South Carolina haven’t passed legislation, but Delaware, Massachusetts and Washington, D.C. are close to doing so.
We’ll see a slow uptick in foreclosures? Not in July. While unexpected, Attom’s EVP says the drop might be normal seasonal changes rather than an overall decline.
The six Fla. metros included in the July report had days-on-the-market averages greater than 30 days, ranging from an average 52.7% of Tampa listings to 72% in Miami.
Buyers’ feelings about the current market hit a low not seen since 2011. Only 17% think it’s a good time to buy a home, and the “good time to sell” index also dropped.
Many Realtors dislike live presentations because “I’m nervous” or “don’t like the way I sound.” But with practice, Facebook Live is strong marketing tool.
Many investors consider real estate a hedge against inflation, and it is. Long term, stocks still have a stronger historical position – but gold does not.
Report: A worker making $10/hour in Fla. must work 86 hours to afford a one-bedroom apartment – an affordable rental goal in only 1 out 10 U.S. counties.
While experts don’t expect a recession-style foreclosure surge, the numbers should keep rising as the U.S. housing economy returns to “normal.”
People who could work from anywhere often opted for Fla., and real estate investors found short-term-rental profits soared – but it added to buyers’ frustrations.
New Fla. condo safety standards raise the bar for about 2M owners and set an extremely short timeline – and there may not be enough engineers to get the job done.
Search engine optimization (SEO) puts your info at the top of a customer’s Google search, a difficult goal. But a local SEO plan may provide better results.
Filings indicate the Florida Office of Insurance Regulation had been monitoring Weston Property and Casualty Insurance Co. for more than two years.
An abandoned condo unit could have problems that impact other owners, like mold, but how can a condo board find out if it can’t contact the absent owner?
The Realtors Relief Foundation – a non-profit that provides housing assistance after disasters – will direct the $500K to housing needs, plus relief and recovery efforts.
Equifax – one of the big three U.S. credit scorers – says a computer coding error changed credit scores as much as 25 points, up or down, between March 17 and April 6.
Zillow canceled its own iBuying program but just announced a new iBuyer affiliation that combines Zillow’s audience with “Opendoor’s selling solution in one easy place.”
The chief economist pointed to signs of a recession – and signs that suggest no recession. At the least, he says, the latter should block a major economic slowdown.
At 4.99% it’s not far below, but it’s the first time in four months the 30-year, fixed-rate mortgage averaged below the psychologically significant 5% mark.
Buyers want a go-to website, and IDX allows individual Realtors to post MLS listings. It can also boost website status in search engines when listings get shared.
If do-not-call laws didn’t hurt cold-call marketing, changing technology will: 20 years ago, Fla. had about 12M landlines; by 2021, it had only 1.152M.
Buyers became richer between 2019 and 2021, notably in four “top 10” Fla. metros, as wealthier out-of-staters opted to buy a Fla. home during the pandemic.
Testimony suggested that “opaque ownership laws” and specifically LLC ownerships have turned “I’m going to let them foreclose” into a business tax strategy.
Florida Realtors economist: Today’s homebuyers stress over inflation and rising mortgage rates, which are pushing buyers to lower expectations and find something quickly.
Demotech downgraded the financial rating of five Fla. insurers this week, but one quickly chose to use a new state program that can keep it in business and insuring homes.
While no one wants a life in a high-risk area, buyers generally ignore philosophical dangers and continue to pay a premium for properties in fire or flood zones.
If permanent work-from-home employees can move wherever they want, where do they go? According to Airbnb, Fla. is one of the top two destinations.
A billionaire Middle Eastern developer pledged $120M for the roughly two-acre site. It will likely be home to a new luxury condo tower, though the start date isn’t clear.
As more contracts fail to close, some frustrated buyers who didn’t win the bid are receiving a call a week or more later: Do they still want the home?
Some newer agents haven’t seen a real estate market in transition, and they may need to rethink phrases they’ve used for a few years, such as “This one won’t last!”
Sept. 30 application deadline: HUD says the money prioritizes homeless youth and survivors of domestic violence, dating violence, sexual assault and stalking.
U.S. housing discrimination has a long history, from redlining to VA loan policies. But if legal problems are solved, would an adequate housing supply do the rest?
Home price increases dropped 2 percentage points – but even at that rate, it would still take six months to return to any historically “normal” monthly increases.
UF: Consumer-sentiment scores remain low, but July’s numbers were about a half point higher. Households making $50K or less held the most pessimistic views.
The FTC alleges the iBuyer used “misleading and deceptive information,” and its sellers “made thousands of dollars less” than they could have via a traditional listing.
For slightly less than $4M, one ABBA fan can own a piece of history. The Swedish Longhouse style Gulf Coast home duplicates the same design in a mirror style.
A Miami low-income housing project will soon offer market-rate units. The goal is to have some lower-income tenants’ costs paid by the higher-income renters.
In Lee County, median sales prices are down 4%; in Collier they’re down 7%. Sales volume also dropped a bit while inventory has increased about 8%.
RE Q&A: A buyer bought her home from a widow. But even with a death certificate, the county didn’t remove her deceased husband’s name from the deed.
A borrower with a “fair” credit score could pay $103,626 more over the life of a 30-year loan compared to a similar borrower with an “excellent” score.
The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom.
Buyers and sellers in separate states may soon find it easier to close a sale remotely after the U.S. House OK’d a bill standardizing the process the Senate will now consider.
The growing number of homes listed for sale is largely in the pricier side of the market. The number of homes listed below $250K has gotten smaller in many places.
An uptick in buyer cancellations reflects a changing market, though the specific reasons range from interest rates and recession fears to hopes for future options.
Registration is onsite after Aug. 15. You’ll want to be part of it all: Hear Martha Stewart’s real-life insights, see the expo and learn from nearly 40 ed sessions.
Parents with good credit often want to help their children buy a house. But it’s dangerous to have your name on a mortgage and deed if you don’t control the home.
It’s hard to live in Fla. and work remotely if your company starts to mandate two days in the office. As a result, FAU predicts departures will slowly lower Fla. rents.
Dear Shannon: If a Realtor sells a home they also own, are they still subject to the obligations of the Code of Ethics? What if a Realtor isn’t acting on behalf of others in the transaction?
Lots of confusion over this one: What happens to an associate’s pending transactions if they depart one brokerage to work for another – do they stay with the original broker or transfer? Fla. law doesn’t offer rules, so it’s important to have a plan.
Clients want to add a simple clause to a contract? It isn’t always simple. When parties add short clauses to their contracts, there can be pitfalls if the clause lacks detail.
A very non-legal definition: U.S. antitrust laws ban competitors from forming an alliance and “ganging up” on other businesses. A town’s two dominant brokerages, for example, can’t try to run a new entrant out of town.
Dear Shannon: If a Realtor sells a home they also own, are they still subject to the obligations of the Code of Ethics? What if a Realtor isn’t acting on behalf of others in the transaction?
What if a savvy hacker accesses your customer’s data? It’s not just a technology question. Affected customers may file a lawsuit and demand to know what steps you took to prevent cyberattacks.
The chair had harsh words for inflation but also said rate increases seem to be having an effect. He seemed to say the U.S. is closer to the end than the beginning.
The Fla. agency that backs policies after an insurer bankruptcy will work with Citizens to keep state insurers solvent if Demotech ever again threatens to lower ratings.
In spite of the Fed’s 3/4-point interest rate increase on Wed., the average rate for a 30-year, fixed-rate mortgage fell to 5.3% from last week’s 5.54%.
f N.J. granted tax breaks to convince a company to relocate, it says it expects the employees to frequent local businesses – not work remotely from states like Fla.
National Rental Home Council: Built-to-rent single-family developments made up 3% of rental home inventory in 2019; by the end of 2021, it rose to 26%.
At $6,729, Monroe County’s average premium tops the list, while Sumter County is the state’s most affordable for property insurance with an average $1,438.
Year-to-year, pending sales were down 20%. NAR says that over three years (June 2019 to June 2022) home prices rose 80%, and it now predicts a 13% decline in 2022.
The Fed’s inflation battle now includes two 3/4-point interest rate hikes in a row. Since it was expected, most mortgage rate increases have already occurred.
Florida Trend magazine named the state Realtor association one of the “best companies to work for in Fla.” With a staff of 140, Florida Realtors won as a medium-size firm.
About 12% of the $100M allocated by Fla. lawmakers for the Hometown Heroes homebuying program has been dispersed so far, according to Gov. Ron DeSantis.
A new member benefit introduced by NAR, Rental Beast, offers rental-listing management tools, such as ones that promote a renter-to-buyer conversion.
Economists who estimate demographics and predict growth lowered their Fla. expectations. By April 2027, they now peg Fla. at 1.29% – a drop from their earlier 1.41%.
June prices increased less than past months, and in two NE Fla. counties – St. Johns and Nassau – the median home price decreased slightly in June.
Consumers’ attitudes about their current situation – largely inflation – dragged down July’s numbers more than worries about the future.
Builders say it’s the lowest level since the start of the pandemic (April 2020), with buyers priced out due to high interest rates and ongoing building and development costs.
Insurer-rating firm Demotech says it changed direction and won’t lower property insurers’ ratings “until further notice,” easing concerns for homeowners and buyers.
The 10-city and 20-city index showed a 19.7% year-to-year increase in May, a slight drop. Tampa (up 36%) topped the list for a third month with Miami (34%) at No. 2.
Most people buy the largest home they can reasonably afford, but upscale buyers have a “sweet spot” for size, future costs and the overall hassle of maintenance.
Many older condos are fine, but new post-Surfside rules will force some owners to weigh the cost of needed repairs against the benefit of moving and selling.
It happens: Stuff at your home wears out or breaks. But saving 1% to 4% of your home’s value each year for maintenance and repairs isn’t easy.
Some financial experts worry consumers are overextending as rising interest rates combine with record average prices on luxury cars, rugged SUVs and trucks.
HUD and experts say mobile homes are one solution to the affordability crisis, but in eight years, 20% of rental parks have been bought by institutional investors.
On Wed., the Fed ends its meeting and will likely raise rates 3/4’s of a point. Mortgage rates may follow, but lenders anticipating the Fed’s move raised them already.
Once an established agent has a fair share of local customers, the next step is to advertise their services to the external buyers who are most likely to move in.
Sales will weaken and for-sale inventory will grow, but it won’t do much to help affordability, Chief Economist Lawrence Yun said.
Some owners hold off listing and selling until the market peaks, but what if it already did? It’s too soon to be sure, but “overvalued” indicators seem to be turning.
A small number of sellers want to maintain privacy, but MatchMyPlace does it for everyone, listing only cities, prices and a limited number of photos.
Demotech rates insurers’ financial health and warned 17 Fla. firms of a possible downgrade. That creates homeowner problems if Fannie or Freddie hold the mortgage.
For 13 days, Fla. won’t collect taxes on back-to-school supplies that cost $50 or less, including clothing, learning aids, and computers costing less than $1,500.
A homeowner paid off his condo and may ask his girlfriend to move in. If he does, can she claim partial ownership at some point in time?
Federal efforts have decreased the number of phone scams, but criminals focus now on text scams. The 1B spam texts sent in July 2021 increased to 12B this June.
Some buyers can’t handle the high home prices and rising mortgage rates, and some sellers who were waiting for the market to peak have decided that time has come.
Buyers in the market for at least six months have lowered their expectations more than once – and shortly after they do, they’re forced to lower expectations again.
Condo owners usually have property insurance coverage, as do condominium associations. After a covered event, how do you decide which insurer must pay?
A bit less than half of U.S. listings had a bidding war in June, but in Tampa it was an even lower 28.9% compared to 54.2% in May and 58.8% in June 2021.
Mortgage rates are almost twice as high as they were one year ago (2.78%), though the weekly increase was modest compared to last week’s 5.51%.
HUD views manufactured housing as one relief valve for the affordable housing crisis, and its proposed construction rules are the biggest change in 20 years.
It’s not just the U.S. raising interest rates. Most world countries are also trying to ward off a recession, and home prices in a few areas have even started to decline.
Realtor.com’s high-level view of housing markets – foreclosures, underwater mortgages, rising prices, etc. – finds Fla. ranking third in overall stability.
Sales fell for the 5th month in a row as prices rose 13.4%. NAR economist says homes priced right sell quickly, but ones priced too high now “deter prospective buyers.”
In testimony to Congress, builders backed a new tax incentive but said they also need lower lumber tariffs, fewer regulations and help with their labor shortage.
Florida Realtors: Fla.’s single-family median price up 19.7% to $420K. Condo median price up 26.4% to nearly $325K. Inventory rising as new listings increase.
Inflation affects home prices – and home prices affect inflation. Metros with more departing residents – San Francisco, New York, etc. – have the lowest inflation rates.
For many homebuyers, their ownership goal seems to be kicked farther down the field with every price increase and mortgage rate rise.
REITs, which trade real estate similar to the way stocks trade business ownership, largely fell in value in June, though the decline level varied by commercial sector.
Total housing starts fell 2.0% in June. Weakness in the single-family sector was partially lessened by a 10.3% rise in the multifamily sector.
What will happen to mortgage rates next week? No one knows. What will happen over the next year? Likely lots of ups and downs but, ultimately, higher average rates.
Top of the list: smartphones, email, and social media or GPS apps. In addition, 19 out of 20 (94%) agents text customers but also call (92%) or send email (90%).
Available in English and Spanish, the app helps people find updated weather alerts, emergency shelters, links to recovery assistance and more within one app.
The “What’s your home worth?” ads carry less weight, in part because they’re overused, but also because today’s consumers balk at giving out their home address.
While some builders lowered prices, it’s tricky. Most want to spur demand without offending their contracted buyers who already agreed to pay a higher price.
1 out of 3 (32.6%) people doing a home search on Redfin’s site looked beyond their metro area, and four of their top 10 preferred destinations are located in Florida.
In NAR’s annual report, 1 in 4 (24%) international buyers chose Fla. Nationwide, they spent $5.9B, up 8.5%, even as single-family home sales dropped 7.9%.
The 12% drop is the largest NAHB has recorded in its monthly survey of builder attitudes, except for 42 points in April 2020 – the first full month of the pandemic.
Agents need to tell customers about the benefits their brokerage brings to the table, but even some brokers don’t recognize their own strengths.
A judge ruled that a “Fair Housing Center” home for six individuals faced discrimination, and ordered the town of Cromwell, Connecticut, to pay $5M.
Americans keep upgrading their homes, but NAHB’s index measuring the market dropped 10 points year-to-year in the second quarter, reflecting a market slowdown.
Some homeowners may pay hundreds more for flood insurance than their neighbor, and part of the problem could be a location at the edge of a flood insurance map.
The parent firm of United Property & Casualty, which insures 185K Fla. homeowners, is reviewing “strategic and capital raising alternatives” that may include a sale.
The U.S. needs about 3.8 million housing units to keep up with household growth, a crisis with multiple causes, some of which go back to the Great Recession.
If a market slows, buyer momentum often slows with it. As a result, agents should think of ways to keep prospective buyers excited about the process.
Which candidates running in Fla.’s primary support the real estate industry? Florida Realtors PAC looks at various factors, including voting records on real estate issues.
NAR’s chief economist says inflation is rising faster than expected, and the “Fed may be forced to raise interest rates even more aggressively than planned.”
In No. 1 Boise, Idaho, 2 out of 3 sellers (61.5%) dropped their asking price in June. In No. 9 Tampa, a Redfin study found 44.5% of sellers lowered their price.
Stronger construction can minimize damage from strong winds, but an MIT study found that many valuations underestimate mitigation’s benefits by as much as 80%.
After a few declining weeks, the average rate for a 30-year, fixed-rate loan rose higher after inflation numbers remained high despite recent Fed interest rate increases.
Attom: Foreclosures remain low but might hit normal “sometime in early 2023.” Fla. ranks sixth nationwide, with one foreclosure for every 560 homes with a loan.
The CEO of Citizens Property Insurance – the Fla.-owned “insurer of last resort” – foresees “almost incomprehensible growth” for the rest of this year.
What do you tell them? It’s an opportunity to start a conversation and build value if the caller doesn’t have an agent but tell them the home’s “sold” status upfront.
Buyers have removed contingencies in order to woo buyers. If you’re seeing those returning, it suggests that your market doesn’t favor sellers quite as much.
In June, just shy of 15% of contracted sales were canceled before closing – the highest rate since the start of the pandemic – as more buyers rethink their decision.
At 9.1%, June inflation hit a rise not seen since 1981. On the plus side, recession fears appear unwarranted for now as other numbers remained surprisingly robust.
NAR’s 2022 Member Survey: Realtor membership grew 5.4% to 1.56M. The typical Realtor had sales volume of $2.6M and 12 transactions – a year-to-year increase.
Rose Credit Repair in Texas promised to quickly boost client’s credit scores – and it did so, but by illegal means, including 133 fake police reports.
Q&A: Also: If someone owns multiple condos but rents all of them out to tenants, can they still use community amenities, such as tennis courts and the pool?
As Fla. home values soar, calls grow to increase state-owned Citizens Insurance eligibility cap to $1 million statewide rather than in just two counties.
The average cost to move a U.S. household rose 15% year-to-year, and 51% in top-cost Maine. But moving costs fell in 5 states, including 5% in New Mexico.
Real estate often make a great investment but investors expect a return on that investment. Seemingly attractive investments can sometimes have problems.
The real estate digital marketing leaders will offer photography, drone imagery, floor plans, virtual tours and more on a single platform.
Curated newsletter content – topics you select with readers’ interests in mind – offers a return on investment up to $36 for every marketing dollar spent.
Miami charges the seventh-highest average rent in the nation and is No. 1 in Fla. at $2,846. Jacksonville is Fla.’s least expensive with rent averaging $1,748.
The best tactic to quickly recover after hurricane damage? Prepare now. “Identify your risks, have a plan and act today,” says FEMA Administrator Deanne Criswell.
Why are housing prices rising quickly? A Federal Reserve study found supply-side challenges less influential than ongoing and strong buyer demand.
Some homeowners living in flood zones don’t want to sell after getting a buy-out offer because they don’t trust the government to pay a fair price on time.
By Sept. 5, lenders must update guidelines to make it easier for salaried/hourly workers and self-employed people to qualify for a loan if they lost work during the pandemic.
Even companies that want workers to return to the office find it’s not that simple, and recession fears have some firms looking for ways to cut expenses.
Buyers and sellers often don’t know all their options. A leaseback may convince a homeowner to sell now, for example, and buyers could learn about new mortgage options.
Study: Miami-Dade saw the fiercest renter competition in the first four months of 2022, with Orlando (2), Southwest Fla. (3) and Broward (10) also in the top 10.
On July 10, renters who pay on time can get a home-buying boost even if they have thin credit scores – a big benefit for first-time buyers in underserved communities.
Fla. has a lot of residents born outside the state – but one in three (35.8%) is a true Floridian. Only Nevada has a lower percentage of state-born residents.
Big investment firms largely ignored single-family housing until 2007, and competition between investors and homesteaders is a fundamental market change.
Zero-down, interest-only adjustable-rate mortgages (ARMs) played a role in the last recession, but today’s options are safe if buyers understand the pros and cons.
More Americans dream of moving to Fla. than other states, according to Coldwell Banker, and a high percentage of Fla. residents won’t search for a home elsewhere.
The Fed is willing to push interest rates higher, but it’s not just a supply-cost worry. If consumers expect more inflation, it can become a self-fulfilling prophecy.
Recession fears pushed the 30-year, fixed-rate mortgage down from last week’s 5.7%, though they remain higher than the 2.9% recorded last year at this time.
Why should someone move to Fla.? Because it’s officially fun, according to a WalletHub study that looked at entertainment, recreation and nightlife.
Almost 90% of U.S. counties saw housing costs outpace wage growth in the second quarter. Households that once used 26% of income for housing were using 31.5%.
Citizens Ins. – the Fla. “insurer of last resort” – is helping defend a new Fla. law that limits attorney fees for “assignment of benefits” (AOB) damage claims.
In June, Fla. median rent hit $1,726 per month, up from $1,408 one year earlier. While a unit for $1,500 is still possible, it depends on size, quality and location.
A Davenport owner and manager told a transgender tenant she must continue acting as a man in public because it makes other residents “uncomfortable” and is “disruptive.”
While “more supply” has rallied most efforts so far to ease the affordable housing crisis, Biden is considering reduced fees to save FHA buyers $50-$70 per month.
The My Safe Florida Home program will subsidize owners’ efforts to boost their home’s storm defenses – but not before the peak of the 2022 hurricane season.
Predictive analysis or market analysis uses data to pinpoint patterns and help forecast trends. Real estate agents can use it to improve their targeted marketing efforts.
Survey: 33% of U.S. small businesses couldn’t pay their full May rent on time. Some still owe back rent from the pandemic and 52% said rents rose in past 6 months.
Condo Q&A: The tenant generally takes the place of the owner when it comes to rights to use the common elements, unless the tenant waives those rights in writing.
Survey: 33% of U.S. small businesses couldn’t pay their full May rent on time. Some still owe back rent from the pandemic and 52% said rents rose in past 6 months.
Analysts: As more people stall their homebuying plans, due to inflation, higher interest rates and economic uncertainty, it likely will impact RE industry jobs.
CoreLogic: Tampa had the highest year-over-year home price gain, 33.4%, for the 20 biggest metros. Fla. was the state with the highest home price gain at 33.2%.
Condo Q&A: The tenant generally takes the place of the owner when it comes to rights to use the common elements, unless the tenant waives those rights in writing.
Now available across the U.S., the company says it is the first to enable agents to bid on listing opportunities from homeowners who are ready to sell.
Predictive analysis or market analysis uses data to pinpoint patterns and help forecast trends. RE agents can use it to improve their targeted marketing efforts.
FHA now offers a complete, four-part webinar series for novice buyers that “dispels FHA myths” and gives them clear steps they can take to become a homeowner.
Some advocates worry that investors in subsidized government housing will drop the affordable-housing subsidies in order to raise rents and pursue higher profits.
The three big credit reporting agencies now don’t include medical debt in reports for banks, landlords, etc.; and they won’t report small medical debts at all in 2023.
A committee looked at the impact on first-time buyers and minorities – and the real estate industry – if a high percentage of traditional family homes become rentals.
Older adults often want to stay in their home, and new tech tools – smart beds, fall detectors, security cameras, etc. – make it easier to do that.
The tragedy rattled a Fla. insurance industry that was already struggling. One Palm Beach condo complex expected a 25% increase – but coverage rose by 82%.
Home prices took a dive during the Great Recession and some homeowners think that will happen again, so they’re selling now and waiting for bargains to arrive.
The Fed’s interest rate hikes will cause the “pendulum to swing back down” some places, but no crash if vacancies stay low and underwriting standards remain high.
A study by FAU and two other universities compares current rents with “historical trends” found Miami No. 1 in the U.S., with rents 22.7% higher than historically expected.
Stock market and inflation fears hurt the economy, but increased economic pain can often lower mortgage rates if investors flock to mid-term bonds.
Every buyer in every real estate cycle faces challenges. Buyers who can keep things in perspective still qualify for mortgages and sign contracts for homes.
If renters paid their landlord on time for a year, they can share that info with Freddie Mac to improve their chance for mortgage approval or lower their interest rate.
Fla. regulators turned down the “insurer of last resort’s” full rate-hike request. Instead, the policy increase will average 6.4%, and 57K Fla. owners will see a smaller bill.
The short-term rental company says parties at its properties dropped 44% in one year, so a ban works – but it also suspended 6,600-plus guests who broke the rules.
Many Fla. residents may celebrate July 4th away from home. Florida Realtors: Share home safety tips with owners like setting timers on lights in some rooms.
The cost of lumber is falling and new-home demand softening thanks to current housing prices and rising interest rates. Could a supply-demand balance be here soon?
A number of real-estate-related bills passed in the 2022 Florida Legislature and were signed by Gov. Ron DeSantis, including the Hometown Heroes program.
Miya’s Law creates new rules, some of which impact landlords. Highest profile one is that a maintenance and repair “reasonable notice” rises from 12 to 24 hours.
NAR says May’s increase in pending home sales ended a six-month skid of declines, but despite the gain, “the housing market is clearly undergoing a transition.”
Recreational things like tents, sunglasses and concerts are sales-tax free July 1 through July 7, with longer sales-tax breaks for some home appliances and windows.
The bill allowed Fla. businesses to sue local governments over lost profits. DeSantis generally agreed with that, but he found the bill “broad and ambiguous.”
At 62.9, June’s Fla. consumer sentiment was 2.1 points higher than in May. A UF economist says it “comes as a surprise” given inflation and other challenges.
Attitudes about current conditions were relatively unchanged, but attitudes about the future fell more based on fears over inflation and the cost of gas, food, etc.
Prices remained up 20% year-to-year in April, but the monthly rate of increase appears to be slowing as the Fed’s interest rate hikes seem to be having an impact.
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.
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.
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.
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.
A look at the latest trends across the U.S. show that residents in 32 states, including Florida, favor a modern style at home. Ranked at No. 2 is farmhouse chic.
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%.
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.
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.
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.
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.
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.
Vacation-home buyers have been hurt by economic changes and a new fee, plus higher pandemic-era demand may have resulted in less current demand.
Older adults are buying a condo in a 55-plus community. Their kids want to know what a revocable trust is – and whether it’s a good idea.
Realtors who “always do the right thing” may still find themselves legally accused of a copyright violation – often a photo on their website, and sometimes one that was automatically uploaded by their IDX feed.
A buyer and seller can always agree to change contract terms to get a transaction to closing. However, a handshake agreement generally won’t change the existing contract until it’s in writing and signed.
Dear Shannon: A Realtor won’t work with potential buyers working with another Realtor – “Never have. Never will. It’s unethical.” But is this one of the high standards that the Code of Ethics requires?
Last week, the rate increase hit a 35-year high, but this week’s 5.81% is only marginally higher than last week’s average 5.78%.
Many current and previous armed forces members know little about VA loan benefits: 17% think they need 20% down; half think it’s a once-in-your-lifetime offer.
Homeownership builds generational wealth, and NAR laid out potential long-term consequences if lower- and middle-class buyers no longer qualify.
In two-and-a-half years, Fla. condos should complete inspections. It’s a quick turnaround for a state with 30,000 condo associations, most older than 30 years.
A judge gave final approval for the Surfside-condo collapse settlement a day before its June 24 anniversary. Families who lost loved ones will collect the most money.
How are you different? Why should I work with you rather than any of those 10 other agents? Before a first meeting, give clients an idea of what they should expect.
Home flips vary by metro, but they’ve grown as a percentage of sales (9.6%) for five straight quarters – but profit margins dipped to their lowest point since 2009.
Calling it a “first-of-its-kind package,” HUD will spend $322M to help the unsheltered homeless, including some living off the land in rural communities.
The first and perhaps biggest question: What made you decide to move here? Slow and methodical work in the beginning will make their visit more productive.
In most condos, the outside area by a front door is a common element than owners can’t change without permission. But boards should be flexible on this one.
The U.S. challenged Facebook’s “algorithmic discrimination.” Ads can no longer target recipients by age, gender or zip code in a case DOJ called “groundbreaking.”
Fed Chair Powell emphasized the central bank’s determination to stem inflation and suggested any future increases will be based on the latest inflation numbers.
A drive to help build awareness of the Realtor brand led Broward, Palm Beaches & St. Lucie Realtors to create “Only a Realtor” ads, videos and social media campaigns.
It’s the 4th month in a row for slowing sales, a drop of 3.4% month-to-month and 8.6% year-to-year – but U.S. is mostly down to 2019 levels after two gangbuster years.
The baseline for a strong brokerage begins with training programs, support and systems. But the internal culture acts as the glue that holds people together.
Florida Realtors: Fla.’s single-family median price up 21.8% to $420K. Condo median price up 28.8% to $322K. Rising interest rates slow sales but new listings up.
The U.S. Treasury-funded program spent over $1.3B, helped 228K residents and closed to applications on May 12 – but some local programs may still offer aid.
Homeowners who have hit hard times face foreclosure, but most now also have lots of equity and they’re selling rather than going into foreclosure.
Two other Fla. metros – Cape Coral and North Port – are also in the top 10 Redfin report, with New York City and Chicago top feeder markets.
Many homeowners used some of their home equity via a cash-out refinance when rates were dropping. “Tappable equity” rose to $200K per home in 1Q 2022.
Altos Research: Rising rates and economic shifts have slowed down super-eager buyers as the market shifts to “much more normal conditions.”
Also: A condo board may approve/reject leases based on criteria in the Declaration; a background check found a recent arrest for assault and battery. OK to reject?
As property insurance grows more expensive, homeowners study other options. If an owner has paid off the mortgage, is self-insurance an option?
In addition to a business LinkedIn page, agents should have a personal LinkedIn page that, in addition to a photo, outlines their skills and experience.
A reverse mortgage allows older adults to tap into home equity yet still live in the home. For unexpected health care expenses, it might be a good idea – or maybe not.
With geographical farming, an agent defines a specific area for intense marketing – but success requires more than randomly picking an area off the map.
In the 2010s, mortgage rates averaged only 4.08% – but today’s rates are still a bargain compared to the 1970s (9.03%), the 1980s (12.7%) and the 2000s (6.29%).
As of April 1, Fannie Mae-backed loans use the ANSI standard for measuring square footage. While it makes the measuring consistent, it also creates confusion.
In a common problem, one condo-unit owner tries to tell landscapers how do their job, but the association employs them – not that individual owner.
If rising costs didn’t deter hopeful home buyers, rising mortgage rates might. Realtor survey estimate: About 50% of buyers paused plans at least temporarily.
The rate for a 30-year, fixed-rate mortgage jumped over half a percentage point in one week – from an average 5.23% seven days ago to this week’s 5.78%.
Economists expected housing starts to fall last month, but the size of the drop was the steepest in more than a year. Building permits also declined by 7.0%.
Southern Fidelity is headed toward state receivership. It has 78K policies in Fla., and some of those will likely go to Citizens, the Fla.-owned “insurer of last resort.”
The big difference? Money doesn’t move between banks, it moves between crypto wallets. But to pull that off, everyone in the transaction should understand the process.
Officials allege the groups used Spanish ads to falsely promise they’d cut mortgage payments in half – but homeowners shouldn’t pay mortgages or talk to their lenders.
An Executive Order issued on LGBTQ protection requires HUD to identify housing issues, provide guidance and create training under a goal-specific timeline.
Despite inflation, sinking stocks and Fed moves, most economists say consumers – the primary drivers of the economy – are still spending money at a healthy pace.
Fla. has 4 of the top 10 cities for real estate investors, but they’re pulling back. U.S. investor purchases dropped 11.5% in 1Q 2022 compared to the previous quarter.
With inflation up to a 40-year high of 8.6%, the Fed raised its key interest rate by 3/4ths of a point and suggested that more hefty rate increases are likely.
Redfin said Tuesday it would lay off nearly 500 employees. In an SEC filing, Compass said it plans to lay off 10% of its workforce.
The builder association’s measure of attitudes has dropped for six months in row, hitting 67 in June. But any number above 50 reflects optimism over pessimism.
Criminals don’t just post fake home sales or apartment rentals online. They also advertise fake summer rentals. Take safety precautions before making a deposit.
In the beginning, phone and video calls build relationships – but once transactions get serious, email creates a searchable archive of the process.
In exchange for that savings, however, buyers accept risks. Adjustable rates reset at a future point, and interest rates could be uncomfortably higher when they do.
Under the “buy low, sell high” theory of investing, some larger single-family landlords see economic downturns as a chance to increase their inventory.
In future smart homes – they already exist – the fridge may order groceries, the dryer could call a repair man, and everything can be controlled from a single location.
The Fed chair had hoped rising interest rates would slow the economy enough to halt inflation – but so far it hasn’t. As a result, bigger rate hikes are expected.
Survey: 2 of 3 homeowners think they’d make less money using an iBuyer – but they’d consider an iBuyer if it makes home selling faster and easier.
Granny flats – small apartments added to a home or built in a yard – will be easier to finance since lenders can now consider rental income for mortgage approvals.
Buyer frustration has adjusted some goals as more look for homes they can tear down and replace, or ones with “good bones” they can remodel.
A 2021 law limited roofer advertising, but a court injunction blocked enforcement during the trial. Due to just-passed laws, both sides agree the issue is now moot.
The pandemic lesson: The market can change quickly. A broker forum looked at impacts on the future: hybrid working, value propositions, profitability and more.
A mega-houseboat docked on Star Island isn’t a “structure,” according to the Miami-Dade property appraiser, and the county won’t demand property taxes.
Sales remain strong, but soaring interest rates, a shaky stock market, rising inflation and economic certainty have put a damper on demand.
Young adults want a home; their parents want them to have a home. As a result, more moms and dads are giving money, co-signing or even gifting a house to their kids.
Is a single-family home a better rental investment than a condo? Beyond financial return, investors like single-family tenants because they tend to stay longer.
If a mortgage holder drops homeowner’s insurance, their lender will “force-place” a policy on the home. But that policy protects only the lender – not the homeowner.
Beyond paying a higher price for a new home at an increased interest rate, owners must deal with rising property taxes, and more face capital gains taxes if they sell.
Moody’s Analytics considers some Fla. metros “overvalued” because it says the average local resident can’t afford to buy a local median-priced home.
HUD: 45% of the homeless suffer from some form of mental illness or chronic substance abuse issue, but an estimated 25% have a serious mental illness.
HUD study: 45% suffer from some form of mental illness or chronic substance abuse issue, but an estimated 25% have a serious mental illness.
The run-up follows last week’s average 5.09% for a 30-year, fixed-rate loan. Increases so far this year appear to be impacting buyers and the housing market.
Rising rents and stock market fears have sparked real estate investment. Orlando, Miami and Jacksonville are 3 of 7 U.S. markets where they’re over 25% of sales.
Survey: 1 in 3 (35%) is annoyed once per month, and 53% get bothered at least multiple times each year. Top complaint? Noise from dogs, babies, TVs, etc.
Notable home-price increases have occurred in small and large U.S. metros, but it hasn’t been even. In 477 U.S. cities, prices still haven’t hit their earlier peak.
USA Today calls it “the most sweeping overhaul since the housing crash in 2008.” The three-year strategy focuses on underwriting, appraisals and support programs.
Online tool accesses HUD-approved counselors and a toll-free number offers advice in 200 languages on buying, renting, reverse mortgages or evictions/foreclosures.
FAU: At 32.8%, Fort Myers tops U.S. metros in year-to-year rent increases. S. Fla. (up 31.07%), Sarasota (30.88%) and Tampa (26.9%) also made the top five.
FEMA says it’s been 50 years since the storm changed U.S. flood policies after crossing the Panhandle and causing massive inland flooding – 8 states, 128 deaths.
The pandemic pushed many Americans to move and others to upgrade their current home. However, about 1 out of 3 remodelers now regret their decision.
There are three types of ownership that pass property upon death, but only one usually requires probate – and it’s not “joint tenants with right of survivorship.”
The recent update allows renters to search locations for their most-desired features, such as a chef kitchen or “historical homes.”
Across Fla., 229 young people are getting help with their college costs from Florida Realtors Education Foundation as they prepare for the 2022-23 school year.
The last time interest rates rose, a rush of sellers listed their home. But that hasn’t happened, in part because likely move-up buyers don’t want a higher-rate mortgage.
The move, backed by NAR, gives HUD flexibility to boost affordable housing in various ways, such as advocating for zoning changes and working with local officials.
2 out of 3 (66%) of adults 55 and older plan to stay in their current homes in a break from their parents who largely downsized or moved to adult communities.
Palm Beach County analysts say the area needs affordable housing. It’s starting to hurt its infrastructure, which deters economic expansion and company relocations.
A widow remarried but wants to leave the family home to her sons rather than her new husband. What’s the best way to do that?
Housing remained resilient – Fla. more than many states – but signs suggest a slowdown in price increases. Still, investors moving away from stocks may be a wild card.
Florida Realtors economist: Most Fla. home sellers accepted offers at or above their asking – and 1 in 5 (20%) Fla. sellers get at least 5% more.
Regret is rampant after a hurricane – regret for the preparation things you could have done but didn’t. However, not all hurricane advice makes sense.
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.
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.
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.
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”?
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.
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).
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.
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.
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.
The average 30-year, fixed-rate mortgage was virtually unchanged this week, dropping from last week’s 5.1% to 5.09%. But the 15-year loan rate moved higher.
Mortgage rates tend to follow yields in 10-year government bonds, which have been sliding. Plus without many refinances, lenders have more money to move.
A MoneyWise survey found top recognition for “closing costs” by two-thirds of respondents, but only 38% know what “mortgage rate” means.
Chief Economist Yun said in an interview that it’s “just inevitable that home price appreciation will slow down in the upcoming months.”
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?
The “Fair Lending Oversight Data System” is now active but also open for public comments. Among other things, it will track appraiser names and license numbers.
A storm hovering over Mexico may threaten Fla., and it’s time to prepare for the possibility of bad weather. The 2022 hurricane season started June 1 and ends Nov. 30.
A week after the Florida Legislature took steps to limit attorney fees in assignment-of-benefit lawsuits, an association and company filed a constitutional challenge.
Sellers of higher-end properties often interview three agents before making a decision. Listening – and asking open-ended questions – can move you to the top.
New investors pay higher rates for acquisitions and higher mortgage rates too. As a result, some new investors are feeling pressured to keep increasing rents.
Lawmakers revived “My Safe Florida Home.” Funded with $150M, homeowners can apply for $2 in aid for every $1 spent, but some details still need to be worked out.
2022 is the 20th anniversary of National Homeownership Month, which recognizes the importance of owning a home and the impact it has on families and communities.
Friends or family members who say, “We’ll work it out later” set themselves up for trouble. The time to “work out” solutions for unexpected problems is before the purchase, not after.
Many community associations leveling fraud charges had a single person receiving and paying bills. To stay safe, a system of checks-and-balances should be a fundamental part of day-to-day operations
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.
Dear Shannon: What do I do when a buyer says they are working with another Realtor? A cohort says the Code of Ethics requires us to ask if they have signed a written exclusive agreement. And another person said we have to get a copy of it. Is that what the code says?
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.
The feature measuring current attitudes dropped slightly, but Americans’ future expectations lowered in the face of inflation and interest rates.
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.”
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.
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.
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.”
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.
A house can feel more like a home when it’s raining outside, but it’s also the best time to check for roof leaks, note outside drainage issues and detect any odor from mold.
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.
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.
Recession or not, the U.S. doesn’t have enough entry-level homes for everyone who needs one, and it will take at least 10 years for supply to catch up with demand.
8 of the 10 largest U.S. cities lost population during the first year of the pandemic, though reasons varied from housing costs to jobs, births and deaths.
How are rising mortgage rates impacting home sales? Comparing the percentage of sellers who dropped their price in April 2022 vs. April 2021 finds an increase in Fla. metros.
It marks “six consecutive months of declines and the slowest pace in nearly a decade,” says NAR’s chief economist. Year-to-year, pending sales were down 9.1%.
The average rate on a 30-year, fixed-rate loan fell for the second week in a row but still hovered just over 5%. One year ago, a 30-year FRM averaged 2.95%.
Reality home shows capture the real estate business’s glitz and glamour, but not so much the minutiae and stress. One agent calls them “horrible” for the industry.
The Fed’s meeting notes this month suggest disagreement among the ranks, but they still plan on some rapid increases followed by time to “assess the effects.”
It may get easier for Broward condo buyers to find building safety reports. An online resource would give owners structural reports and update the status of repairs.
In a special session this week, the Florida Legislature passed a roster of bills to ease problems in the state’s insurance market, including SB 2D, which Florida Realtors heavily supported. Lawmakers also took steps to improve the safety of condo buildings.
A study found that music influences diners’ food choices in a restaurant, but what works for an open house? Consider local tastes and a home’s style when choosing.
A previous property settlement of $83 million – which doesn’t include a separate loss-of-life case – was increased to $96 million on Tuesday.
The Florida Legislature put condo safety on this week’s agenda by adding inspections and new financial requirements into a bill by way of an amendment.
Attom study: Between 2021 and 2022, rental returns on a three-bedroom house declined in three out of four counties – largely because home prices rose 15%.
The short answer: Yes. The longer answer: The process to do so depends on governing docs, and it might not be as simple as it sounds.
Of those 21 storms, 10 will be hurricanes, experts said, calling it “really a strange thing that we’ve had six consecutive seasons be so active.”
Florida Realtors economist: In 1Q 2022, half of new Fla. listings went under contract in 12 days – but look beyond that one statistic to see the shift in market speed.
Fla. rents are up because demand is up, and new residents boost demand. In 2020, 167 people moved in for every 100 who left. In 2021, the inbound number was 210.
If there is a slump, most economists predict it will be relatively mild – and a majority believe the odds are greater than 50% that the U.S. won’t see a recession at all.
Fla.’s sales-tax “holiday” on hurricane supplies starts this Saturday, and for the first time it includes pet supplies, including some bags of pet food and cat litter.
Pundits expected a slight drop in April new-home sales. NAHB’s chair calls the drop significant and cites the higher cost of new construction and rising interest rates.
The real estate market can be scary for buyers, but education can help – like saying we don’t want another global collapse even if the last one did lower mortgage rates.
A Dubai billionaire bought the land where a condo collapsed in Surfside for $120M – the only bid submitted and high enough to apparently deter other bidders.
Rates go up and down. One broker expects a slow rise in part to world events, and then a slow fall. And when rates fall, today’s buyers “will go back to refinancing.”
A Friday forum hosted by NAR and the Urban Institute brought together government and reporters to focus on better ways to serve marginalized U.S. communities.
The Florida Legislature looks at the state’s property insurance challenges this week. A range of proposals will consider legal, structural and reinsurance updates.
The $100M program, a top Florida Realtors priority, will provide zero-interest loans to be used toward down payment and closing costs – up to 5% of the loan or $25K.
In an “email compromise scheme,” a Miami Gardens man monitored business emails, changed wiring instructions at the last minute, and stole almost $400K in closing money.
For some sellers, it’s emotional: A beloved family home should only be sold to a family, and they’ll take less money to make it happen. Others worry about neighbors.
NAR’s president created a presidential advisory group (PAG) to study cryptocurrency’s growing real estate influence, suggesting, “We should consider our own platform.”
Listings that expired more than a year ago may offer opportunities. Owners who didn’t sell for some reason may not realize how much equity they’ve gained since then.
Panhandle Realtors note an uptick in interest for energy-efficient homes, but it comes with a downside: Many homebuyers can’t afford the increased cost.
Realtor.com added “wildfire risk” to all listings, and while 6% of Fla. homes face a threat, that number could double by 2052, according to the rating company.
Florida Realtors: Fla.’s single-family median price up 21.8% to $410K. Condo median price up 24% to $310K. Higher interest rates and tight inventory slow sales.
“Economic uncertainty causes rate volatility,” says Freddie Mac’s chief economist. The average 30-year, fixed-rate loan moved down a bit from last week’s 5.3%.
Year-to-year, sales dropped 5.9%. The inventory of for-sale homes, while higher at a 2.2-months’ supply, means the U.S. remains in “seller’s market” territory.
Sellers can shield $250K of profit from capital gains taxes, but as home values rise, some filling out their IRS forms now discover that Uncle Sam wants a cut.
Inflation has changed perceptions. More potential homebuyers must now use money to pay for daily essentials, and credit card usage rose 49% in 1Q 2022.
Zillow featured the home used for the TV show “Full House,” only to walk it back and say the property, listed for $37M, wasn’t actually for sale.
Housing starts fell just 0.2% in April, but multifamily starts rose 15.3% to offset the single-family drop. NAHB cites “weaker confidence in the single-family market.”
Survey: Thanks to recent stock market gyrations, investors are moving to real estate. They consider it stable and less likely to lose value until things cool down.
Researchers found that the top lower-tax states didn’t have a “major tax,” which helped Fla. move high in rankings since it lacks a personal income tax.
The Commercial Real Estate Market Conditions Index factors 25 variables on economic conditions, demographics and more. This year, Orlando topped the list.
A median-priced home was 79% less affordable historically in 1Q 2022, says Attom. But even in Miami, homes are still 50% more affordable than they were in 2006.
Buyers feel pressure to lie on mortgage applications as homes become less affordable, and it’s become more prevalent in South Fla., Orlando and Tampa metros.
Listings already include info on a listing’s risk for flooding but going forward, they’ll also have a warning about the potential risk from wildfire damage.
Fraudsters troll obituaries seeking homeowners who died, then lie and forge documents to claim ownership, often to the surprise of the actual heirs.
Biden hopes to close the housing supply gap within five years. He announced immediate changes, but the extensive plan requires some congressional action.
At 69, NAHB’s confidence index remained in positive territory, but it dropped 8 points due to rising interest rates, a lack of workers and supply-side issues.
Most of the money goes toward affordable housing, but it’s also used for other HUD housing programs, such as specific aid for some at-risk populations.
Florida Realtors’ can’t-miss event Aug. 24-25 offers success strategies, networking and more – like keynote speaker and icon Martha Stewart. Register now.
Policies under FedNat Insurance Company and sister companies Maison and Monarch National will cancel in June, according to terms of a consent order.
Real estate historically swings from a buyer’s market to a seller’s market, and early 2022 signs suggest it’s moving toward a more balanced market.
MBA: Demand for adjustable-rate mortgages has reached a 14-year high. At the beginning of the year, ARMs made up 3% of all loans; now it’s 11%.
A house’s claim history can increase premiums for future coverage – or even kill a deal if it has issues that cause insurers to consider it an unacceptable risk.
Online buyers will soon feel as if they’re flying a drone over a potential home. It’s only in a few cities so far, but with plans to expand over time.
Noting that Anywhere ends in “re” for real estate, Realogy says the new branding will “rename and rebrand the company” and “reinforce our commitment” to the future.
Documents available in Spanish cover info about the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act and the Truth in Lending Act.
Some sellers hear about today’s bidding wars and pre-emptively overprice their home, only to feel shame – “What’s wrong with my house?” – if no bids come in.
Citizens, the Fla.-operated “insurer of last resort,” OK’d a $1M settlement with Coral Gables’ Strems Law Firm after alleging its actions pushed up insurance costs.
Experian says things “are moving in the right direction,” but 2 of 3 lenders note challenges, like a struggle to have the right technology, data and talent.
As refinances plummet, lenders seeking new business still follow tighter lending rules, but they’re creating diverse programs, including some for self-employed buyers.
REX Homes backed an antitrust suit and NAR counter-sued – but “The American Genius” says multiple signs, including employee interviews, suggest it ceased operations.
It’s the highest level since 2009 and due, in part, to the Fed’s moves to fight inflation. One year ago, a 30-year, fixed-rate mortgage averaged 2.94%.
Faked online sales and rentals netted a criminal $300K from 45 Fla. families. The scam included fake title companies, websites, title agents and email addresses.
Pending court approval, the $997 million settlement involves developers of an adjacent building, insurance companies and other defendants.
Know a “green” builder or developer? Urge them to enter: Winners are recognized for building in harmony with the state’s beautiful and sensitive environment.
In metros where demand outstrips supply, renter competition has created bidding wars. A few landlords, in turn, ask competitors for their “highest and best offer.”
Thanks to inflation, a business-disrupting disaster now costs more money to fix – but a study found that only 43% of businesses have increased insurance limits.
Fla. regulators will discuss three property insurers’ requests for rate hikes greater than 20% the week before the Legislature meets to consider industry-wide solutions.
The Dept. overseeing distribution has helped 386 homeowners to date and is still accepting applications. Funds used so far are about 1% of federal funding received.
Prediction: Local home prices could drop perhaps 5%-10% in a few U.S. areas with large home price increases that far surpassed their area’s household incomes.
For the first time, Orlando will market business services and commercial growth to tourists, assuming some visitors are also key business decision makers.
With furniture and decorative costs continuing to rise, some builders and existing-home sellers add value by including their existing furnishings with the sale.
An “advisory opinion” says federal laws don’t just protect borrowers from discrimination when applying for a loan – they protect borrowers forever.
Money budgeted in Congress’ infrastructure package will subsidize – and in some cases pay for – high-speed internet for rural and lower-income families.
The OUR Florida program helps pandemic-hurt families pay rent and utilities, but it’s almost out of funding and won’t accept new applications after May 12.
The Federal Reserve no longer considers Covid the biggest threat to the world economy. Now it’s “further adverse surprises in inflation and interest rates.”
When pandemic-driven people started looking for bigger, less urban homes, they put a high value on pet amenities, like backyards and durable flooring.
The traditional lifetime moves from smaller to larger homes may be permanently disrupted due to limited amounts of land and rising construction costs.
South Fla. sales of single-family homes priced $1M and up have basically remained stagnant since 3Q 2021 – but still higher than pre-pandemic levels.
Dues remain $150 but the Realtor advertising special assessment will increase by $10. 2019 Florida Realtors Pres. Eric Sain is Region 5 vice president.
Realtors should avoid giving tax and legal advice. And when they talk or respond to clients, they should document all their communications.
The additional $20M grant won’t provide direct rental relief – it will fund legal services and representations for families facing eviction.
Wary buyers and rising interest rates may affect some U.S. markets, but Fla.’s rising demand and lack of construction will probably offset a potential cooldown.
For buyers, higher interest rates mean less home for the money. But the market may benefit if those rates create a better balance between the number of buyers and sellers.
Over $31B was invested in RE tech firms in 2021. Looking ahead, metaverse and blockchain technology may have a significant effect on the future of real estate.
Google searches: From Jan. 2021 to Jan. 2022, the top trending career search entry was “how to become a real estate agent.” The profession draws job seekers.
Having a baby is often a leading housing decision, prompting new families to buy a home or desire a larger home, according to NAR research.
ATTOM: May, June and July offer seller premiums of 10% or more above market value. The top 15 best days to sell are in the month of May.
Homeownership rates for Asian Americans were at 61.2% in 4Q 2021. Home sales have grown the most among millennial and female Asian Americans.
The Fed’s 0.5% increase in a key interest rate this week is an aggressive move to slow inflation. But borrowing money to buy or fix up a home will cost more.
Video helps Realtors form connections via social media, which has about 4.62B active users globally. Studies show listings with videos get 403% more inquiries.
Chief Economist Yun told Realtors at Legislative Meetings this week that 2022 has thrown curveballs like “record-low inventory and unyielding inflation.”
Experts offer mixed views. Some say moderately priced-home sales won’t slow yet due to low inventory; others expect impacts from stocks to the housing market.
Record-low mortgages below 3% are gone; credit card rates will likely rise along with the cost of an auto loan. Savings accounts might earn a little more.
NAR Chief Economist: Except for the office market, sectors like industrial, apartments, hotels and retail are up and should do well, especially short-term.
Freddie Mac: Up from 5.1% last week, it’s the highest since 2009. The average 15-year mortgage rate is now 4.52%, up from 4.4%.
Realtor.com: The combo of higher rates and home prices has made monthly payments quickly climb. That impact is adding an extra $580 to buyers’ monthly expenses.
How? Agents can walk their farm area, knocking on doors and introducing themselves in a safe, organized way. Community outreach and Facebook farming work too.
The Fla. Housing Finance Corp. saw its volume jump in 2021; activity was so brisk that it stayed open 24/7 and increased its housing assistance amounts.
Lending Tree survey: 75% say they dislike at least one of their neighbors, either due to noise, rudeness, problem pets, messy yards or ‘weird vibes.’
CoreLogic: A record high, the annual growth was the largest in the 45-year history of the home price index. Fla. had the highest state home price gain, 31.4%.
RE Q&A: Like going into business together, buying a house together works best with a written agreement so all understand risks, rights and responsibilities.
A special legislative session starts May 23 to discuss property insurance issues from high reinsurance and litigation costs to insurers’ rising rate requests.
NAR: The top 10 areas with highest year-over year gains were midsize and small markets; five were in Fla. Chief Economist Yun expects price appreciation to slow.
NAR: Fair housing for all and addressing inventory, supply and affordability issues are Realtor priorities this week at the 2022 Legislative Meetings.
Analysts expect the Fed to raise its benchmark short-term interest rate by a half-percentage point, the sharpest rate hike since 2000, with more soon to follow.
Share info about your expertise, emphasize your value and demonstrate your access to vital marketing and other resources to give sellers peace of mind.
June 1 marks the start of hurricane season. Make a disaster plan now and stock up on supplies like batteries, flashlights, water and more.
Advocates: Housing opportunities will expand in major cities’ communities of color. Redfin said it prefers to spend money advancing fair housing, not litigation.
Report: 20% of those surveyed said they’d make an offer immediately. Some buyers (56%) are willing to consider a 2nd job to earn more money for a home purchase.
Calif., Fla. and other states continue to struggle to keep their homebuilding apace with a growing workforce. This imbalance helps fuel higher home prices.
Report: The state came in No. 1 for reader feedback, No. 5 for quality of life, No. 8 for affordability and No. 39 for health care.
The judge’s order noted further efforts would be “futile.” Tampa-based Lighthouse Property Insurance’s 27K policies in Fla. will be canceled within 30 days.
Seven of the top 10 most profitable areas were in the South, including Fla.’s Navarre Beach, Daytona Beach and Port St. Joe.
ATTOM: Though still at historical highs, profit margins on median-priced single-family home sales fell to 47.2% in 1Q 2022; it was 51.6% in 4Q 2021.
The nation’s GPD shrank at a seasonally adjusted annual rate of 1.4% in 1Q 2022. But U.S. consumers and businesses – the economy’s core – remain healthy.
Cloud-based options and software like Dropbox or Microsoft365 offer automatic backup and recovery – files are available even if a device is lost or damaged.
Houzz: Renovation activity and spending hit their highest rate since 2018. Homeowners report a 20% increase in the median renovation spend, reaching $18K.
Lower intro rates from adjustable-rate mortgages may entice more buyers now. The increase coincides with a 1.5 percentage point rise in the 30-year fixed rate.
Americans were slightly less optimistic about current conditions in April, but their attitudes remain more positive about the short-term outlook.
Fla.’s population may grow by 3.5M residents to reach 26M by 2030. A chamber report predicts 1.6M jobs more will be needed and 3M more cars will be on roads.
NAR recognized 4 winners for making a difference in their businesses and communities as they help expand homeownership to buyers of all backgrounds.
New-home sales down 8.6% in March; sales are down nearly 13% from a year ago. Only 14% of March’s new-home sales were below $300K; a year ago, it was 34%.
The index has dropped for 5 straight months; it fell 8.2% year-over-year. Chief Economist Yun: It may signal “calmer and normalized market conditions” soon.
After 7 weeks of increases, the average rate on a 30-year mortgage dipped to 5.1%; a year ago, it was 2.98%. Last week, it was 5.11% – highest since April 2010.
Ideas: Offer superior customer service, ask for and share client testimonials, regularly express gratitude to clients and build a database to keep in contact.
NAR: Half of agents and brokers surveyed said they helped a client buy or sell a property with green features over the past 12 months, compared to 32% in 2021.
Home flippers in Fla. are feeling the impact of a shortage of for-sale homes, rising median prices, supply chain issues and too few subcontractors available.
Index: North Port and Naples are in top 5 of 1Q 2022 emerging housing markets as Fla. continues to attract migration from other states. They were top 2 in 4Q 2021.
Reinsurance, the Office of Insurance Regulation and changes to Fla.’s Building Code to improve insurance affordability are among topics for the May 23-27 session.
20-city price index: A 20.2% year-over-year gain in Feb; up from 18.9% in Jan. Tampa and Miami were in top 3 cities for highest rate of home-price growth.
As a seller’s market persists throughout Florida, more buyers enter into back-up contracts. Although the back-up contract rider is short, a few questions regularly drive members to call Florida Realtors Legal Hotline.
Insurers that remain are raising prices after the tragic Surfside collapse. Condo associations able to get policy renewals may face 30% to 50% premium increases.
Part three of a three-part series: Issues surrounding sales of property with tenancies. Part one covered taking a listing, part two the contract language. Issues can also rise regarding closing, however, including some specific concerns.
Short answer: It does under some circumstances. Also: If an unexpected big expense comes up, can a condo board pay using money from its capital reserve and replace the funds later?
Survey: Buyer traffic continues to outpace supply. Realtors report about 5 offers were made on each home sold in March; 57% of buyers offered above list price.
Dear Shannon: A listing Realtor told a buyer at their open house about another one of their listings that sounded ideal for them – and the Realtor honestly informed the buyer that waiting to tell their current Realtor might lose them the home. Why is that wrong?
Many insurers offer discounts – some up to 13% – to homeowners with smart-home devices designed to prevent water damage, fire or theft.
Rising rents, not enough student housing being built and other increasing college costs are causing “a perfect storm” for students in Fla. and other states.
Report: 80% of buyers say they now compromise on key features; the most common centers around costs, with 48% paying more than they first expected.
Agents can organize their contacts in their client relationship management tool, generate quality leads and schedule, send and track multiple email campaigns.
The chair sees the job market’s strength as a key driver of rising prices – but it may let employers curtail costs by reducing job openings instead of layoffs.
Housing markets continue to run hot, despite rising interest rates and home prices. Some researchers worry a fear of missing out may be fueling the current trend.
As Florida Realtors’ new vice president of public policy, he will oversee the government affairs efforts of the state association and its 225,000 members.
With inflation up – about $500 higher monthly expenses year-to-year – and living space a top cost, many households are now laser-focused on the price of housing.
Condo Q&A: A board may apply a disaster plan before, during or after an emergency that includes shutting off elevators, air conditioners, electricity and more.
Supply-chain delays and labor shortages slowed new-home builds. In the South, a recent study found a 52% increase in delays before construction starts.
PropertyShark study: Women can afford to buy alone in only 17 of the 51 largest cities in the U.S. – and one of those cities is Jacksonville.
Study: Over 25% of houses bought by professional rental investors in 4Q 2021 were new-construction properties. In 3Q 2019, they bought 3% of newly built homes.
Agents face challenges, but focusing on their sphere regardless of market conditions can boost business. Make personal calls and send cards to stay in touch.
New 2023 forecast: Expect a modest economic contraction in 2023’s second half, but the housing market should help cushion that even if its pace slows a bit.
Filings up 39% in 1Q 2022 over 1Q 2021. Fla. is one of 5 states with highest foreclosure starts in 1Q. But activity still remains below historical levels.
This “lock-in effect” may impact listings moving forward. Higher rates have added about $400 to the average monthly payment on a median-priced home.
In March, 3.1% of workers who were retired a year earlier are now working, a figure matching the pre-COVID level. Could it help ease the current labor shortage?
This week’s 30-year mortgage rate averaged 5.11%. Owners with locked-in lower rates have less financial incentive to sell; would-be buyers face higher loan costs.
Florida Realtors technical support service added 4 Realtor groups with nearly 12K new users. In 2021, the Helpline provided tech support for over 113K cases.
This “lock-in effect” may impact listings moving forward. Higher rates have added about $400 to the average monthly payment on a median-priced home.
Optimize your profile, include your real estate specialties and the areas you cover, use appropriate hashtags for shared content and offer fun polls to take.
Some want to age in place, keeping close to family and community. There are also concerns about being able to find and afford another place once they sell.
Arguing investors are keeping families from being able to buy, some HOAs are trying to cap the number of homes that can be rented out, among other steps.
Florida Realtors: Fla.’s single-family median price up 21.3% to $396.5K. Condo median price up 27.3% to $308K. Rising rates, prices and tight supply impact sales.
Year-to-year, total U.S. home sales fell 4.5%. NAR’s chief economist says sharply rising mortgage rates and higher inflation is beginning to impact the market.
Rising rates and supply chain issues impacted single-family starts (-1.7%) and permits (-4.8%). But multifamily starts rose 4.6% and permits were up 10%.
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.
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.
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.
NAHB/Wells Fargo Housing Market Index: Builder confidence in the new single-family home market fell 2 points to 77 in April; a year ago, it was at 83.
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.
Survey: 65% worry about inflation, 63% rising interest rates and 58% access to capital concerns. Still, investors continue moving forward on projects.
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.
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.
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.
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.
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.
Higher mortgage rates may soften demand this spring. NAR has forecast home sales to slip 10% in 2022, mostly due to rising rates pricing out would-be buyers.
26% of people may be less likely to buy a home this year because of rising interest rates, says a survey forecasting the outlook for homeowners in 2022.
Real estate Q&A: When a foreign national sells property they own in the U.S., a portion of the sale needs to be held back and sent to the IRS by the buyer.
Redfin: While demand for vacation homes dropped sharply for a 2nd consecutive month in March, such sales are still 13% higher than pre-pandemic levels.
Real estate pros can boost business with personalized happy b-day videos or ones that congratulate homeowners on the anniversary of their home sale.
Freddie Mac: That’s up from 4.72% last week; it’s the first time the 30-year FRM has hit 5% in over 10 years amid persistent high inflation.
How? By matching up to $100K to the HCA Equity Down Payment Assistance Fund, helping minorities and low- to moderate-income with down payments and closing costs.
NAR Chief Economist: The Fed Reserve will be forced to raise interest rates multiple times, pushing mortgage rates up and slowing home sales, price increases.
NAHB: 10.5% of all single-family homes built in 4Q 2021 were constructed in rural areas, up from 10% in 4Q 2020; for multifamily units, it was 6% vs 4.1%.
Gas prices recently reached a 14-year high, and most workers don’t want to return to commutes to the office full time. Employers have options to explore.
Many homebuyers may find the first 48 hours are crucial to either make or break a deal – and often contingencies like taking it “as is” matters, too.
The opposite of home staging, some turn to “white boxing” to show property, where everything is removed to an empty space of bare floors and white walls.
The state’s insurer of last resort had nearly 818K policies as of March 31, up from 792.6K at the end of Feb., as private insurers drop policies.
The rise is the fastest pace in more than 40 years; costs for food, gasoline, housing and other items are squeezing consumers and wiping out many pay raises.
Bankrate.com: Last week’s average for a 30-year fixed jumbo mortgage was 4.48% vs 4.95% for a conventional loan. Today, $1M is price of entry in some markets.
Gallup: 91% of people who now work some hours remotely hope to continue; while a design survey found home buyers seek out bonus rooms and flex spaces.
The U.S. has recouped 20.4M or 93% of jobs lost in the pandemic, but the Northeast and Midwest are lagging. Fla. recovered all its jobs lost by Oct. 2021.
Agents should have a consistent online presence on social media, take advantage of positive client testimonials and keep marketing design elements uniform.
CoreLogic: Investor activity slowed in 4Q 2021 and more investors appear to be holding on to properties longer. Analysts say summer is the time to watch.
Latest NAR report finds other obstacles vary by race and ethnicity but include saving for a down payment and competing with multiple offers.
Realtor.com: 64% of possible sellers intend to list their home by Oct.; a majority of these sellers (49%) are ready to swap starter homes for larger ones.
A research study found that people who drink a 12-ounce cup of coffee “showed significantly enhanced problem-solving abilities.”
About half of U.S. adults age 55 and older have only Social Security for income, and the rising cost of rent is forcing more of them into the street.
Do you serve once on an HOA’s fining committee, almost like a jury? Or should members be appointed and continue to consider more cases over time?
Strong demand from international buyers – many who find prices and interest rates cheaper here – should largely offset any drop in demand from domestic buyers.
In an attempt to counteract Canada’s rising home prices, Prime Minister Justin Trudeau has proposed a two-year ban on purchases by foreign investors.
In April, 12% of sellers dropped their price compared to 9% one year earlier. It’s too soon to call it a trend, but it suggests prices might soon hit their peak.
Both Disney World and Universal Studios say they’re building affordable housing on company-owned land – a total of 2,300 new units for the Orlando area.
A design firm sued a Missouri brokerage, claiming it violated U.S. copyright law because its listings included floor plans – and last week an appeals court agreed.
According to T3 Sixty, Realogy Holdings ranked No. 1 for sales volume in 2021 with $737.6B, while eXp World Holdings’ sales grew the most – 116%.
A University of Fla. study found that a combination of factors contributes to red tide blooms, but human activity has intensified them over the past decade.
A study of Census Data found that 15% of Americans are Black, but their homeownership rate is only 10%. Fla. cities included in the study ranked about average.
Describe the property, not the potential buyer or tenant. “Ideal for empty nesters” or “perfect for students” raises red flags; “easy walk to train” does not.
A 30-year, fixed-rate mortgage rose from last week’s 4.67% – up 1.5% in the past three months, the fastest increase pace over that time period since May 1994.
NAR joined the Remodeling Industry and found a perfect “Joy Score” by owners after painting, adding a home office, installing hardwood or renovating closets.
An aggressive attitude and foreclosure threat against zombie homes’ owners have opened up land for building/rehab – or it’s fed city coffers if owners pay their tax debt.
A Utah one-of-a-kind home was built by women – the “House that SHE built.” Now the group has helped roll out a Girl Scout badge that will be offered nationwide.
Groups can apply for funding that’s dedicated to fair housing education, outreach and enforcement – including fair housing testing and legal aid.
A large, seemingly trustworthy property management firm appears to have absconded with HOA money. How can HOAs protect themselves going forward?
In two Fla. cities, Miami and Tampa, prices rose more than 200% in a little over 20 years – No. 8 and No. 9 in the U.S. for price increase percentages.
Tired of using stock photos and seeing the same people on your competitor’s website? New platform allows you to buy – and even sell – a picture as an NFT.
A 40-year loan mandates a lot of interest payments and a slow build for equity, but FHA says it will prevent thousands of foreclosures, making that a fair tradeoff.
Survey: 44% of Gen Z (18-25) and 35% of millennials (26-41) say they’ll sell their starter home this year. Many have lots of equity and a fear of rising mortgage rates.
Study: Some uncommon features can boost a home selling prices by a few percent, including a “pot filler” – an above-the-stove water faucet that adds 3.2%.
Today’s successful buyers are happy they got a home, but some who made trade-offs to win a bidding war have regrets after they move in.
Even though a preliminary injunction stops an Oregon law banning buyer “love letters” until trial, Rhode Island lawmakers are considering something similar.
OUR Florida – a state program that offers help to lower-income, at-risk renters – says it has committed $1.5B so far to help 211,667 rental households.
Worried buyers wonder how high mortgage rates will go, how fast, and whether inventory levels will ever rise – fears that help push housing prices ever higher.
In honor of Fair Housing month, NAR focused on new and existing programs – everything from podcasts, reports and research to its Fairhaven testing simulation.
A condo owner suffered damage after a fire in a nearby unit. Which insurer pays for that, the condo association’s or the personal policy he has on his unit?
A business account gives agents a free marketing plan, ad tools and, once rolling, data analytics to help them see how the account is performing.
Many want to sell and move, but they feel stuck. Some don’t have the income to qualify for a bigger mortgage; others worry about total costs of a relocation.
The 2022 hurricane season starts in less than two months, but it’s not uncommon for storms to form before the official start date (June 1) or after it ends (Nov. 30).
A drop in demand for the sport and uptick in demand for land has pressured more cities to trade golf for housing. For builders, golf course land is usually ideal.
Some first-time buyers think they can’t afford a home – but they don’t know where to look. In addition to national and local programs, Fla. offers 3 possible options.
Fla.’s state-backed “insurer of last resort” requested an overall 11% rate hike effective Aug. 1, and regulators spent three hours considering it Thursday.
A bill to make homeowners pay roof-replacement deductibles failed, but OIR says it can be an insurer option, such as lower premiums for owners willing to take a risk.
The broad goal is to make your product irresistible, and a number of marketing steps can help. In today’s world, a social media presence is also mandatory.
The number of homes flipped in 2021 rose 26% year-to-year, even as the profits on each flip fell 3% – the lowest level since 2008 and a 20% drop in ROI.
LendingTree ranked 50 U.S. metro areas. At No. 24, Miami was solidly average, but property taxes in three other state metro areas ranked from No. 11 to No. 14.
This April, Realtors celebrate the 54th anniversary of the Fair Housing Act with special events that symbolize their recommitment to expanding equal access to housing.
The 2022 survey is based on 2021 data. No. 1 for sides is HomeServices of America Inc. (388,098). For sales volume it’s Compass: $251,019,336,511.
Millennials now make up the most homebuyers, and since many move with children in tow, prices in kid-friendly areas are rising faster than the general metro area.
Compensation for 98 deaths after the Champlain Towers South collapse must still be determined, but owners will split $83M for property they lost.
At 4.67%, this week’s average rate for a 30-year, fixed-rate mortgage is up from last week’s 4.42% and notably higher than 3.18% one year ago.
Insurers need an A rating from Demotech, a ratings firm, to remain viable, and Lighthouse Property Ins.’ loss of an A make its future business unlikely.
A new Babcock Ranch home came with an alligator squatter in the main bedroom. The reptile was quickly evicted.
The president’s budget is mainly a request to Congress, but a 34% increase for HUD suggests an emphasis on the need for more affordable housing.
Florida Realtors economist: You don’t have to be an economist to sound like one. Get CE credit by creating local-data charts and graphs that market your business.
APMS, the HOA management firm that allegedly stole money, took out a PPP loan, but DOJ is also charging a small business owner who received just $5K.
More needs done to fix Fla.’s property insurance market, and the governor expects the Legislature to “have another bite of the apple very, very shortly.”
There’s not enough supply (homes) to meet demand, with little relief in sight. The U.S. needs about 3M more homes, and it will take years for builders to catch up.
Realtors who specialize in a niche market create a road map for their career. It makes many decisions easier – where to market, how to market, etc.
In a switch from the Fla. sentiment index released the same day, Americans were more optimistic about current conditions in March – but less so about future conditions.
Interest rate increases impact mortgages, though indirectly. But Fed rate boosts will also increase the cost of doing business and even maintaining a home.
A study of top-demanded and least-demanded items to first-time homebuyers also found that many want hardwood floors – but not cork or bamboo.
Builders once kept up with demand, but Great Recession cutbacks and worker losses created major problems exacerbated by new pandemic-created challenges.
The increase follows 18.9% in Dec. Top increases in the 20-city index included No. 1 Phoenix (up 32.6%), followed by Tampa (up 30.8%) and Miami (up 28.1%).
4 of 5 components tracked by UF rose. Attitudes about the one-year-from-now economy saw the biggest gain, even in the face of inflation and rising interest rates.
A condo board replaced trees with grass and concrete. They cited sidewalk damage, but it changed the common area’s aesthetic. Did they need a vote by owners before doing this?
Can guessing lead to an ethics complaint if a buyer later finds out it’s wrong and makes a formal complaint? I thought a nearby development might be a new mall but it was actually a manufacturing plant.
Claiming he had a “free speech” right to tear down a mansion and build the mid-century modern home of his dreams, a Palm Beach man went to court. He lost in appeals and the U.S. Supreme Court refused to reconsider that decision.
As this seller’s market continues to run wild throughout Fla., many people are asking what laws or contract terms come into play if a seller rejects a buyer’s offer even though it included all the terms the seller requested.
Tenant-occupied property confuses many Florida Realtors Legal Hotline callers. This article should help. It explains a seller’s (landlord) rights and obligations to buyers if a property is sold subject to a tenancy.
Many buyers in Fla. and across the U.S. are feeling the impact of a lack of inventory, competition from investors and rising prices during their home search.
Rates likely will continue to rise. An Oct. Bankrate survey says that among homeowners who’ve had a mortgage since before the pandemic, 74% have not refinanced.
Realtor.com: Home sellers may continue to hold the upper hand, but buyers may be more sensitive to price increases; and more inventory could enter the market.
NAR: Social media is a top source of quality leads, say 47% of real estate firms; and 66% of first-time home buyers are millennials, who widely use social media.
Condo Q&A: While statutes say unit owners have the right to record or videotape meetings with a quorum, the association can adopt reasonable rules about it.
HUD: A 2020 audit found at least 31,500 of the loans that year in designated special flood hazard areas didn’t maintain the required flood insurance coverage.
The pandemic intensified moves to the South and West, increased population in some micro cities and slowed population growth in the biggest U.S. cities.
RE Q&A: If a tenant is damaging property or breaking the rules, their landlord can be held financially responsible and face fines for the tenant’s actions.
The units help with housing shortages and are part of a shift toward smaller, more affordable and energy-efficient homes. But municipalities’ rules differ.
82% of agents say staging makes it easier for buyers to see the property as a future home, and buyers (46%) say staging the living room is most important.
Survey: Over 73% of Floridians polled say too many people have moved in from out of state, putting pressure on the housing market; 51% are considering leaving Fla.
Tight inventory took a toll: Feb. is the 4th consecutive month of decreases for NAR’s pending sales index, which is down 5.4% year-over-year.
A Quicken study found that most buyers (79%) will consider buying a home that has pets, and some even see it as a positive sign about the owner.
Citizens Property Ins.’s board met Tues. and urged the firm to cut costs. It has $6.5B in reserves but is growing quickly and has more than 800K policies.
The DOJ still doesn’t have a regulation standard for ADA website accessibility, but its new webpage explains how businesses can comply under existing standards.
A group of analysts expressed optimism. LSI called it “robust and promising … not a boom market but a prosperous, dependable market for the time being.”
Homeowners who renew NFIP flood insurance after April 1 face updated guidelines with new home-by-home prices. But some subsidies and discounts remain in effect.
The average rate on a 30-year, fixed-rate loan rose a half point in just two weeks, likely due in part to the Fed’s decision to raise the key short-term interest rate.
NAHB says price increases and rising mortgage rates pushed some new-home buyers out of the market. The median sales price hit $400,600, up 10.6% year-to-year.
In last year’s generational report, millennials made up 37% of homebuyers. Gen X, however, bought the most expensive homes at a median price of $320K.
The task force’s action plan summarizes changes already announced and general future goals, such as creating new automated valuations that assess value without bias.
Supply problems and inflation still push up the cost of raw materials, but an end to steel and aluminum tariffs should help offset construction price increases.
Out of 90 HOA bank accounts involved in alleged property-management fraud, 23 were previously closed, and 67 had balances ranging from $180K to zero.
In the Great Recession, many homeowners tapped into rapidly rising equity, but they’re more cautious today, with HELOC applications dropping 5.5% in 4Q 2021.
The two arms of real estate perform the same broad function, but the details differ. Agents often find that one better suits their temperament.
Federal Reserve Chair Jerome Powell warned Monday that the Fed could get more aggressive in raising interest rates if inflation continues to be a threat.
A four-year study of photography costs found an uptick in many areas, though not the Southeast. The national average photo service cost is $229.
The program says the aid covers applications since May 10, 2021. It approved $22.9M so far this month to help 4,219 families pay for rent and/or utilities.
Analysis: 2021 price increases were “eye-popping,” and in one year, Fla.’s share of the U.S. market grew from 6% (2020) to 6.4% (2021).
The governor said he’d welcome a special session to handle any unfinished property insurance or condo safety issues, but he won’t call for one.
A panel of brokers from across the country shared views on market changes and their expectations. For one, this spring season won’t be a usual one.
Effective July 1, paid medical collection debt won’t be used for credit scores by the three main U.S. scorers, and unpaid debt won’t appear for a full year.
Investors stepped up their game this year, buying an estimated 16%-27% of single-family homes, often because they have the strongest financial backing.
After the condo collapse in Surfside, officials increased oversight of older condos with safety issues. In Miami-Dade that included evictions pending improvements.
The median worker earned about $50K, and the average home made about $52.6K last year, according to Zillow’s home value index.
Also: A condo made up mainly of older adults wants to make it official and become a 55-plus community. Is that allowed? And how do you do it?
Florida Realtors economist: The new “Profile of Home Buyers and Sellers: Florida Report” finds that all buyers face challenges – but the bar is extremely high for the state’s first-timers.
Year-to-year, sales declined 2.4%. NAR’s chief economist calls it a “double whammy” for buyers who face rising mortgage rates and sustained price increases.
Florida Realtors: Fla.’s single-family median price up 21.1% to about $381.5K. Condo median price up 24.3% to $290K. Sales down due to tight supply, rising rates.
CFO Jimmy Patronis says the Naples contractors offered homeowners a “free roof” and said they could avoid paying deductibles if they signed “ad agreements.”
The last of three suspects in a S. Fla. rental scheme is in jail. The trio allegedly acted as a Realtor and homeowners to defraud hopeful tenants.
Missed opportunities? Miami Realtors and most Realogy brands hired a vendor to help make their websites accessible in Spanish and up to 20 other languages.
Buyer competition can get heated. In a legally dicey move, a Dallas-area buyer offered a second buyer with a home under contract $50K to cancel the transaction.
The Senate unanimously approved the time change, but now the House and President must also agree – and a few think year-round standard time would be better.
A disappointing dip in Jan. new-home starts was followed by a surprise surge in Feb. Economists expected about 3.2% growth but starts rose by 6.8%.
Seeing increased demand for off-site, flexible office space, a partnership hopes to find success offering short-term rentals nationwide using an Airbnb-type system.
The first video explains the advantages of a VA loan. The second covers misconceptions and offers solutions to challenges noted by Realtors, buyers and sellers.
The 30-year, fixed-rate mortgage averaged 4.16% this week, a height not seen since May 2019. Last week it averaged 3.85%; a year ago, it was 3.09%.
The expected interest-rate increase will raise short-term borrowing costs for things like credit cards, and it often has an indirect impact on mortgage rates.
Refinancing has allowed homeowners to tap into built-up equity. If interest rates rise, however, a Home Equity Line of Credit (HELOC) may make more sense.
Thanks to tight inventory and competition from institutional investors, more first-time buyers set their sights on larger homes with lots of backyard space.
The index that measures home builders’ attitudes fell below 80 for the first time since last Sept., largely due to supply issues and interest-rate expectations.
A judge named a receiver for Tampa-based property insurer Avatar Property & Casualty Insurance Co. for “purposes of liquidation.” Avatar has 37K policies.
One Orlando agent entices past clients with a monthly gift basket so they have “no choice” but to remember her. Another has a sales pitch for all fellow dog walkers.
Investors are expected to keep targeting real estate for attractive returns relative to other asset classes – and increasingly as a hedge against inflation.
Rising mortgage rates and home prices have dampened demand for vacation homes. As voluntary purchases, they tend to be more sensitive to market changes.
On the one hand, Fla. is the No. 1 state for Russian RE investing – 29% of all U.S. purchases. On the other, Russian buyers make up only 0.8% of all foreign purchases.
Top producers say 82% of their business comes from referrals, making good, ongoing “thank you’s” perhaps the most effective tool in a marketing arsenal.
During a virtual White House “listening session” Monday, builders said Canadian lumber tariffs dramatically affect new-home prices and economic stability.
The U.S. will spend $2.6B in the next fiscal year to end homelessness, with 328 Fla. agencies receiving anywhere from $10,000 to $3.2 million.
Foreclosures are low and inching their way back to normal, with no post-pandemic impact so far. Still, only Calif. had more than Fla. in January.
Retail websites introduced offers like “4 monthly installments,” and credit score firms may consider them under payment history – but they haven’t done so yet.
The second suspect was arrested in a Kissimmee hotel and sent back to Miami-Dade. The first suspect turned herself in earlier; the third is still at large.
A Redfin survey of agents found all-cash offers 334% more effective in bidding wars – but escalation clauses and waiving inspection contingencies had little impact.
“Host, advertise and teach a first-time homebuyer seminar” sounds like a lot of unpaid work, but this group is desperate for info – and someone to represent them.
To recoup money lost because insurers failed, the Fla. IGA OK’d a 1.3% assessment on all state policies, including homeowners, aircraft, flood, malpractice and more.
Congress passed a bill that keeps government running through the fiscal year. It also extends flood insurance to Sept. 30 and adds $85M to boost fair housing.
Also: Is it OK to suspend voting rights for people who haven’t paid their dues? And: A condo board makes motions and takes votes via email. That’s wrong, right?
RESPA and Regulation X create strict obligations a mortgage servicer must follow – but courts have been tasked to decide which “services” fall under that regulation.
The “you” everyone loves at parties might not work with every client. Sometimes familiar banter can be misinterpreted or give clients the wrong impression.
In a handful of U.S. metros, studies say it’s cheaper right now to rent – but those studies assume renters must take any savings and invest it rather than spend it.
Foreclosure rates are low and inching their way back to normal, with no post-pandemic impact so far. Still, only Calif. had more than Fla. in January.
North Carolina State University used AI to predict potential flood damage and found 790K square miles have a greater risk than FEMA identifies in its maps.
NAR: Orlando and Tampa ranked near the top for middle-income-owner equity increases, though 71% of equity growth went to the high-income group.
The proposed $83M settlement is for people who lost property and belongings in the condo collapse. Objections can be filed until March 23.
Delays can frustrate buyers with mandated deadlines, and slow appraisals could be one of those frustrations due to too many requests and not enough appraisers.
Last week, a 30-year, fixed-rate loan averaged 3.76%; two weeks ago, it was 3.89%. Increases are still expected long-term, but the short-term? Not as clear.
In Jan., 52% of U.S. home sales went to buyers who bid more than list price – and almost 6K U.S. homes have sold this year for least $100K over list price.
The listing price is a strategy, but many sellers think of it as an expectation. Perhaps the toughest mistake? Thinking they can make more as a FSBO.
Cryptocurrency home sales barely have a toehold, and a new exec order from Pres. Biden may change the rules. The order suggests regulation and a U.S.-owned version.
Sunny Isles, Fla. – “Little Moscow” – has been hot for Russian investors buying luxury homes. But sanctions send a message that investments may not be safeguarded.
The Texas minority and woman-owned investment firm focuses on creating workforce housing and, so far, has acquired 13K apartments worth roughly $2B.
The company unveiled a new budget-level iPhone SE for $429 and an iPad Air in new colors. Both support the faster 5G connections.
If you pay for a title search, why do you also need title insurance? And if I’ve never heard of anyone that had a title insurance issue, why do I have to buy it?
Customers form an impression based on everything they see: clothes, jewelry, office décor. A UF study found laptop stickers enough to form an accurate impression.
Florida Realtors economist: Low interest rates made monthly mortgage payments cheaper, but home price appreciation may be washing out the impact of low rates.
It’s a tight market for buyers and many sellers prefer cash offers. As a result, companies that help buyers present an all-cash offer are thriving.
A Hialeah couple was convicted for a $1.8M house-flipping scam, but detectives also found at least 19 rental-fraud victims from their fake social media ads.
While NAR says “love letters” from buyers to sellers may violate the Fair Housing Act, judge says an actual ban violates the U.S. Constitution’s free speech rights.
The Naples company accused of embezzling millions of dollars from HOAs didn’t suddenly go rogue, according to a Naples News investigation.
Buyers who took a chance on a foreclosure or short sale around 2012 have seen values double or quadruple. But if they want to sell, where do they move?
At least a dozen people paid rental deposits on the same house before the three scammers – one posing as a Realtor – took the money and left town.
It’s confusing for buyers and renters, but the key is understanding what’s being measured – and whether it’s the median or mean cost being used.
While “gated community” sounds safe, it doesn’t guarantee homeowners’ security, especially if there are fence holes or easy-access golf courses.
The Rescue Plan money is used for fair housing issues related to the pandemic. In Fla., the Legal Aid Society of Palm Beach County will receive $250K.
It’s down to 50 people in NAR’s 30-under-30 contest. Vote online for Kelsey Lohman (Tallahassee), Marcelo Steinmander (Miami Beach) or Moriah Taliaferro (Sarasota).
As the state’s population grows, small Fla. towns find themselves changing rapidly as rural infrastructure turns suburban. Central Fla.’s Apopka is the latest.
JLL Capital Markets: 2021 marked a new record for net-lease transaction volume, which totaled $79.3B – up 39% over 2019 – and the Sun Belt leads the way.
45M adults have thin or nonexistent credit scores. For many it’s because they don’t buy things using credit. To secure a mortgage, they should create a paper trail.
The Miami-Dade trio pretended one was a Realtor. They lured victims to vacant homes, often put “buyers” through background checks and then asked for a down payment.
As of April 1, 2020, the state had 21,538,187 residents, says the U.S. Census – a 14.6% jump since the previous census. And Fla. turned 177 years old on March 3.
The nonprofit program offers fixed, low-interest business loans to people without wealth and high credit scores, “who have been subject to systematic racism.”
While 17.13% of Fla. homes may be vacant, the number is misleading because it includes some vacation homes. Nationally, 16M homes are vacant.
Tech frustration? Help is a finger-tap away. Florida Realtors Tech Helpline’s new app works on all mobile devices. Find it in Google Play or Apple’s App Store.
Traditional mom-and-pop RE investors usually plan long term, but a report suggests that Wall Street-backed buyers will likely sell more quickly.
Analysts still expect mortgage rate increases this year due to Fed actions, but investors flock to bonds when they get jittery – and that often lowers mortgage rates.
After flirting with 4% in Feb., the 30-year, fixed-rate mortgage dropped lower for the second week, hitting 3.76% from last week’s 3.89%.
A frustrated teenager forced an HOA gate open with his car. Do his parents pay for damages? Also: Can I nominate myself from the floor for an HOA position?
An agent’s website must have a strong landing page. Some customers create their “first impression of you,” even though it’s not a face-to-face interaction.
Cities took a hit during the pandemic but are resurging. Analysts say cars will soon self-drive, but buildings will also undergo a radical tech transformation.
Study: The average owner moved after 13.2 years in 2021, down from 13.5 in 2020. The reason? Remote work opportunities, low interest rates and rising home prices.
The world’s affluent population – those with $5M-plus incomes – grew 19.8% in 2021. In the U.S. it was 24.8% in both population and wealth, up from 8.1% in 2020.
HUD hopes more multifamily owners will commit to cutting carbon emissions, in part because lower-income communities face a greater risk from natural disasters.
The RESPA violation claim: A selling builder and affiliated title company promised bonuses to agents for successfully referring customers to the title company. Plaintiffs claimed it increased their title insurance costs.
Dear Joey: A fellow Realtor told me about a new Standard of Practice, and it sounds like I can’t tell buyers that my service doesn’t cost them anything?
If I return the election ballot, what’s the point of a proxy too? Also: Condo owners with common-element parking spaces should be able to install a vehicle charging station.
Most if not all Florida MLSs provide participants a way to disclose whether their listing agreement for sale or rent contains a dual or variable rate commission arrangement. However, many members don’t fully understand the “dual or variable rate” definition.
Part 1 of 3: An owner wants to sell an investment home occupied by tenants. While this impacts a number of transaction details, the first step is a full discussion with the owner: Is there a lease? What does it say? Are the tenants onboard with the plan?
A report of luxury home price increases in the world’s top 100 cities finds 5 U.S. cities in the global top 10: San Diego, The Hamptons, Miami, San Francisco and L.A.
Florida Realtors’ committees represent the interests of 225K Fla. members. Your opinions count. Your ideas create movements. Volunteer now for a 2023 committee.
Fla.’s DEO will distribute the funds to homeowners impacted by COVID-19 for things such as late mortgage payments, defaults, foreclosures and delinquent utility bills.
Leslie Rouda Smith released a statement expressing Realtors’ “deep concern for Ukraine,” along with a list of three charities if members wish to help.
Condo owners frustrated by alleged embezzlement of funds by their management company weren’t happy with a ruling that limited access to bank records.
The biggest drop came in confidence for making big-ticket purchases, which authors call “not surprising” given inflation’s impact on the state’s residents.
Stocks and cryptocurrencies lost value, which can impact luxury sales – but a general drop in economic confidence can affect every level of the real estate market.
3D homes can be stronger than traditional homes yet take far less time to complete. They’re already offered in Fla., but the industry is still in its infancy.
Even experts don’t know what will happen. About half think rising costs and rates will deter buyers, but the other half think more listings will boost demand.
Fannie/Freddie’s new request for safety info created layers of confusion. Some boards won’t comply fearing lawsuits and banks won’t lend fearing rejection.
The Fla. Dept. of Financial Services is the receiver for St. Johns Insurance Co, which was declared insolvent. DFS hopes to move policies to Slide Insurance Co.
Technology and smart marketing decisions may attract customer interest, but agents who quickly build rapport with potential clients can land the most deals.
Today’s phones are the most expensive tool that people take for granted, yet there are small changes you can make to maximize efficiency and extend their life.
A Bloomberg analysis of 100K property records found that big investors bought 20% of homes purchased by iBuyers – and twice that amount in some Sun Belt cities.
The drive to offer an additional property tax break to people like teachers and the military now goes to the Senate. If approved, it will then be considered by Fla. voters.
Which mortgage servicers are consumer friendly? Fannie Mae provides feedback to companies and says 29 have shown a commitment to improving homeownership.
Lowe’s says same-store sales rose 5% in 4Q 2021, in part because the housing stock is aging and more frustrated buyers are opting for 30-plus year-old homes.
Buyers have difficulty finding a home, says NAR’s chief economist. He won’t be surprised to see demand decline given current “mortgages, home costs and inventory.”
Why does Golfview Harbour have no golf, no view and no harbor? And Hollywood Hills has no hills? Why can’t you go hunting in Woodfield Hunt Club?
New-home sales dropped 4.5% in Jan., but builders say demand remains strong. They blame supply-chain issues that increase costs and slow construction time.
An automatic appraisal that uses historical data can simply mirror existing discrimination, says the national consumer agency, now reviewing loan algorithms.
A CoStar analysis found rising rents across the Sun Belt with Orlando topping the list (up 24.3%), followed closely by Tampa (up 24%).
Some buyers camp out overnight to be first in line when a new-home development debuts, and a new Westlake community with 4,500 lots says it’s still not enough.
A number of economic indicators suggest higher mortgage rates, but competition from refinancing homeowners also declined after rates rose to almost 4%.
Do you scan 50 new emails and delete 80% of them without reading? Most people do. A simple “subject line” is often key to guaranteeing your emails will be read.
In Jupiter, an 8.5-acre single-family lot will be a 20-home development, an opportunity being considered across Fla. as most buildable land moves farther out.
New Fannie, Freddie mortgage-approval rules require info on a condo building’s soundness. But few boards have easy access to data and often don’t understand it.
A no-longer “significant other” walked out the door decades ago, leaving behind a condo he co-purchased with a partner who now wants to sell. What happens now?
The U.S. homeownership rate grew a record 1.3% in 2020 – to 65.5%. It also grew over 10 years for all groups but one: The Black rate dropped to 43.4% from 2010’s 44.2%.
A MoneyGeek study including IRS, state, property and sales taxes listed Fla. as the No. 4 least-expensive tax state. Total tax costs are about 5.6% of total income.
The index fell to 110.5 from Jan.’s 111.1. Attitudes about current conditions improved, however, while attitudes about the future were less rosy.
While most Federal Reserve Governors seem to favor a 0.25% March interest-rate increase, one gave a speech suggesting she’d be OK with 0.50%.
“Flyover country” is becoming “best place to invest in real estate” country as investors seeking higher yields focus on places like Manhattan, Kansas.
Buyers can only lose so many bids before “stop trying for now” starts to sound good. Moderating prices result, in part, from buyers deciding to wait.
How to maximize short-term-rental profit? To stand out from online competition, more are offering amenities such as themed bedrooms and private arcades.
The increase in the top 10 and top 20 cities in S&P CoreLogic Case-Shiller Index’s was slightly less, but Phoenix, Tampa and Miami had highest year-over-year gains.
The nation’s consumer bureau says the public can now submit rule-making petitions directly, and they’ll be posted on public dockets for review and comments.
Florida Realtors: Statewide single-family home sales up 1.4% year-over-year, median price up 23% to $375K. Condo sales up 6.7%, median price up 23.9% to $285K.
A growing number of S. Fla.’s midcentury homes – basic one-story cinderblocks – are being torn down and replaced as the amount of buildable land disappears.
The Civil Rights Division filed a “statement of interest” in a San Francisco appraisal case where value rose by $500K after removing signs of Black ownership.
Multifamily project developers will find it easier to secure FHA loans after the agency eased tough standards introduced early in the pandemic.
However, one size does not fit all. A coaching firm identified five team models: referral agent, partnership, standard team, group and mega group.
Home prices, inflation and rising interest rates will soon create a balance in the housing market, say FAU researchers, though prices will remain high.
In response to climate change and rising seas, Miami-Dade County may double buildings’ minimum elevation requirements, increasing the cost of new housing.
Problem with a home? Take a photo, circle it and send. iPhones also have built-in levels – and Facetime can make it look as if you constantly hold eye contact.
Pressured by a fear of rising interest rates, investors and families rushed to buy homes in Jan. as listings remained tight and prices rose 15.4% year-to-year.
Fla. has over 400 Opportunity Zones to create affordable housing and encourage development, but rising prices and demand have dampened their impact.
Florida Realtors will back a proposed state constitutional amendment that gives front-line workers, such as police and teachers, a property tax break.
On Feb. 9, the U.S. Treasury OK’d Fla.’s plan to distribute federal money to help homeowners, though the state has not yet released its distribution plan.
It’s been almost two years since a 30-year, fixed-rate mortgage averaged 3.92% (May 2019 at 3.99%). One year ago, the 30-year FRM averaged 2.81%.
Freddie Mac has a new “automated method” to analyze incomes based on direct deposits. Up to 93% of borrowers could see a quicker loan-process timeline.
While the number of housing starts declined 4.1% compared to Dec., the number of building permits – indicators of future housing-start numbers – rose 0.7%.
While Facebook still dominates marketing, it’s losing share to LinkedIn, at least within the real estate industry. And TikTok appears to be on the rise, too.
Feb.’s confidence index fell another point. It’s a still-strong 82, but “many builders wait months to receive cabinets, garage doors, countertops and appliances.”
Cities in Florida, New York and New Jersey are seeing steep jumps in rent. Austin, Texas had biggest 1-year gain, 40%; rent in Orlando rose 30%.
Online videos may make up over 82% of all consumer internet traffic, so it’s key to use a good camera, microphone and have proper lighting.
Micro apartments are about two-thirds the size of a regular apartment but also cost less money, which could make them a hot option for downtown urban areas.
Groundworks: 78% of 978 owners recently surveyed say they’re worried about foundation damage to their home; 25% say they’re rather sell than fix those issues.
Condo Q&A: The answer may depend on what type of meeting is being held, if it’s a regular board meeting or involves a special assessment or other issue.
As St. Johns Insurance and Lighthouse Property Insurance Corp. announce the decisions, state lawmakers consider proposals to address the troubled industry.
Report: Zillow Group said on Feb. 10 that it lost $528M in 2021, primarily because its iBuyer division, Zillow Offers, shut down with an $881M loss.
Florida Realtors economist: Fla.’s business focus landed 4 cities (Orlando, Miami, Tampa, Jacksonville) in a “top 15 best places to start a business” list.
While Federal Reserve members seem ready to raise interest rates in March, they don’t fully agree on how much. Some think it’s time for a strong message.
The pandemic caused American workers to question their jobs and what they do every day – and Google says the top new-job search term is “real estate agent.”
It’s hard for some current Fla. residents to compete with new ones. In Miami, the average newcomer can spend 25.1% more – but in Jacksonville, it’s only 1.7%.
Real Capital Analytics: Foreign investors have shifted focus a bit from major cities, but the $70.8B invested in 2021 is the highest total since 2018’s $94.6B.
An emerging deal announced last week might settle on $83M for people who suffered economic losses after Surfside’s Champlain Towers collapse.
Some renters saving for a down payment and unable to buy find that recent rent increases are eating away at savings and forcing them to stay where they are.
Also: Do standing committees have to post notices of any meeting? And does failing to post a meeting/agenda info within 48 hours violate the Sunshine laws?
Moving is a coordination nightmare, and one of a million details can get lost in the shuffle. If nothing else, however, technology can help organize data.
New homebuyers often need furniture, drapes and appliances after they close, but those costs are up over 15% due to supply-chain issues.
Is the TV listening to me? Could a company get hacked and leak my doorbell videos? Smart devices make life easier but also make some people uncomfortable.
Some Fla. buyers signing a contract for a newly constructed home are being forced to pay a higher amount later or, in some cases, seeing their contracts cancelled.
Love and marriage once drove home sales, especially for first-time buyers, but a survey finds 1 in 3 buyers today (31%) is single – 41% for adults age 18 to 34.
While 67% of metro areas in NAR’s 4Q report saw double-digit price growth, it’s down a bit from 78% in 3Q; two Fla. metros rank at the top for rising prices.
The pandemic continues to influence demand for outdoor amenities, bigger homes and the suburbs. But all ages still like laundry rooms and walk-in pantries.
Help is here for Realtors working with a great charity that can benefit from expert advice and seed money. Volunteering Works supports members dedicated to public service.
Pressured by high repair costs, more owners of older condos may welcome developer buy-out offers if the land’s value outweighs that of all the individual properties.
After three fairly calm weeks, the average rate for a 30-year, fixed-rate mortgage rose to 3.69% from last week’s 3.55%.
Rural homes – often a top pick for remote workers – may not have fast internet capabilities, which can ding the sales value. But buyers still have options.
To avoid fraud, the IRS said it would require photos for tax confirmation – but privacy advocates and some lawmakers fear online storage of biometric info.
ATTOM’s Jan. report finds foreclosures up 29% month-to-month and 139% year-to-year. But the eviction ban skewed numbers, and “normal” is expected in late 2022.
Q&A: A company owned by a director participated in a condo’s landscape bidding process. He abstained from voting and got the contract. Is that legal?
In videos for out-of-state buyers, some Realtors point out flaws upfront. They say it sets realistic expectations, lowers buyer’s remorse and creates customer trust.
At the International Builders’ Show in Orlando, economists said the industry has too few laborers, and interest rate and price increases will deter more buyers.
Zillow’s shutdown of “Zillow Offers” quickly added some new listings to the market but buyers’ agents say they’re frustrated by slow response times and other issues.
The share of new condo units built over the last year was less than 5.4% – almost the lowest level in half a century, according to an Urban Institute report.
The campaign distinguishes Realtors’ professionalism compared to “all the others.” The four new ads verify your expertise, ethics and neighborhood knowledge.
The state received new federal recovery money to help struggling Fla. renters. DCF, which oversees the program, says it has disbursed $858M so far.
A Florida Realtors data analysis released Wed. promotes passage of a Hometown Hero Housing bill, showing the affordability challenges faced by Fla.’s front-line workers.
Fair housing groups alleged that Fannie Mae took better care of its recession-era foreclosures in white neighborhoods than it did in Black and Hispanic ones.
A long-running scam continues to resurface: Calls and texts to Realtors that falsely claim to be solicitations for health insurance backed by NAR.
The group is expanding to Martin County. To date, it has sued 50-plus commercial owners and, in the latest lawsuit, alleges an owner won’t accept Sec. 8 vouchers.
Fla. has always been a go-to state, but new driver’s license registrations finds a notable increase during the pandemic – a major reason for rising rental prices.
Rising home prices and low inventory have made it difficult for lower-income Americans to buy a home – and even more difficult for Black Americans.
Buyers preapproved for a $375K home often look for a $375K home. But they’ll likely get to closing only if they consider property with a lower asking price.
Pandemic-era stimulus funds went toward the down payment on a home for 24% of today’s buyers, second only to saving money from their paychecks.
HUD’s Jan. one-day-each-year study found the number of “sheltered homeless” fairly flat for individuals while dropping a notable amount for families.
Opportunity to build your international business: The March 18-25, 2022, trip includes the international conference and three days to explore Dubai.
Bids for the Gulfport home will be “non-fungible tokens,” and a smooth transfer will be handled like “selling a company and that company owns a house.”
The homeownership rate dipped in 4Q 2021 to 65.6% as buyers struggle to find homes. The Midwest (70.1%) has the highest rate, the West (60.5%) has the lowest.
A property management company in the Naples area faces a $100K civil suit after alleged fraud, breach of contract and embezzlement.
NAR is part of a new initiative – a 100-stakeholder coalition with a 7-step plan to boost the Black homeownership rate, which hit a 50-year low in 2019.
Some version of green is most paint companies’ “color of the year,” but for sellers hoping to maximize profit, nothing changed: Stick with close-to-white shades.
Q&A: A 23-year-old man will be living with his grandmother for about two more years. Does that stop her from buying a home in a 55-plus community?
More renters are wondering: “What happens next year if my rent went up $200 this year? And what do I have to show for this lost money anyway?
Fannie/Freddie started requiring extensive recent financial info from self-employed workers due to COVID, but some may now find it easier to qualify for a loan.
Toxic loans led to foreclosures and a burst bubble around 2010, and today’s market is different – but for rank-and-file consumers, it doesn’t feel that way.
Landis, backed by Jay-Z and Will Smith, buys homes for approved buyers who will get customized financial plans to help them qualify for a loan in two years.
After a notable increase for a few weeks, the average rate for a 30-year, fixed-rate mortgage stopped rising, remaining relatively flat for three weeks.
Your customers may love you, but many new ones rely on your online reputation – and 45% move on after finding something negative.
Condo owners are buying electric cars and need a place to charge them. That leads to a roster of new questions regarding condo law and what can/cannot be done.
Property insurance costs keep going up, and the Florida Legislature has a number of bills focused on the problem. But it’s too early to predict what might happen.
Media reports of Fed interest-rate hikes have convinced more buyers to lock in a mortgage rate, fearing their housing costs will increase if they don’t act quickly.
In 2021, there was a year-to-year 29% drop in home foreclosures. In Central Fla.’s four counties, 2021 foreclosures dropped 8% – and 68% compared to 2019.
Realtors: Have a high school senior or kid in college? Or a client who does? Tell them about the Education Foundation Scholarships – and to apply by March 10.
At NAR’s Nov. convention in Orlando, Realtors dedicated to charitable work will receive a 2022 Good Neighbor Award. Know a worthy applicant? Apply now.
While real estate is challenging today, few rules or oversight in the 1920s led to speculative buying and a bubble that had little to do with the market – until it crashed.
Also: An ex-condo resident now lives under a single-family HOA that’s planning to foreclose based on a lien, which condos can’t do. Are the laws different?
Service workers can’t afford to live in more Fla. metros as home and rental prices climb – and local service businesses are starting to feel the pinch.
UF economist blames the omicron variant that “undermined economic activity, pushed prices higher and inflation to its highest level in nearly four decades.”
After a condo owner’s request to rent out her unit to an ICU nurse was turned down, she alleged the denial was a fair housing violation based on a fear of COVID.
Even as efforts to end human trafficking skyrocket, few programs help victims find housing after they’re freed. In Jacksonville, the solution may be tiny homes.
NAR alleges that REX-Real Estate Exchange’s claims deceive consumers and discourage them from “pro-consumer, pro-competitive benefits” provided by Realtors.
New rules dictate how block-grant money can be spent. HUD announced $2B in disaster relief, but state and local agencies must follow specific spending priorities.
Study: 3 of the Fla. metros (Miami, Cape Coral, North Port) had more out-of-state than in-state searches on Redfin. With Tampa, most searches came from Orlando.
For years, new condo rental restrictions applied only to current owners who voted for them, but new HOA restrictions were effective for everyone. That changed last July when HOA owners who rent out units received somewhat similar protections.
Dear Joey: Can I receive confirmation that my client’s offer has been presented to the sellers?
Some Fla. real estate team names go against FREC rules – words that became banned on July 1, 2019. According to Florida Realtors Hotline calls, FREC has stepped up enforcement, and some teams have already been contacted.
Fla. has different types of property owners’ associations but they are governed by different laws. Sometimes the rules are the same; often they are not.
Deposit deadlines? There are some dangerous false interpretations making the rounds. Hopefully, your buyers won’t fall into the trap. The consequences can be severe if they rely on inaccurate interpretations.
Many nuevo-rich buyers made money working with Bitcoin or other cryptocurrency, and they’ve shown a strong fondness for investing profits in real estate.
Buyers are taking a second look at pre-fab housing because as an affordable alternative as the site-built market remains competitive and frustrating.
In 2020, the share of 25-34-year-old adults moving home hit numbers not seen since 1960 – almost one out of five (17.8%). In 2021, it was still 17%.
Blackstone, which invests in single-family homes and commercial property, had the “most remarkable results in our history on virtually every metric” in 4Q.
A widow with no children and no will has a live-in boyfriend. If she dies, can he make a claim on the house as a domestic partner or even a dependent?
NAR’s public statement on possible flood insurance changes backs mitigation and “2.0,” but it doesn’t back adopting or enforcing a real estate disclosure requirement.
Customer Relationship Management (CRM) software does many things, and the Real Estate Technology Institute thinks many brokers fail to take full advantage.
Fourteen Realtors from across the state will enhance their leadership skills and learn more about Florida Realtors through a number of activities and sessions.
Office leases picked up in the final quarter of 2021 – as much as 89% in some major markets. But it’s too early to estimate how big the resurgence will be.
In 2014, Zillow used listing-agent photos for a new section, Zillow Digs. The fine covers continued photo use after the copyright owner sent a cease-and-desist letter.
The end of forbearance programs and foreclosure moratoriums enticed more at-risk homeowners in lower-cost homes to sell and cash out their higher equity.
Second-home mortgage-rate locks hit 5.7% early last year before dropping, then bouncing back to 5%. The top market? Fla.’s Sumter County with a 65% increase.
Survey: 72% of consumers have used a Realtor, but the level of trust varies by generation: 80% of millennials plan to use one but only 71% of Gen Zs say the same.
“Diminished housing supply offered consumers very few options,” says NAR’s chief economist. He predicts a 2.8% sales decline by the end of 2022.
The 30-year, fixed-rate mortgage changed little from last week’s 3.56%. While still historically low, any rise in rates may dampen demand later this year.
Rates on short-term credit, such as credit cards, will likely rise at the same pace as interest rates. But the link to long-term rates, such as mortgages, isn’t as clear.
Instagram provides a strong foundation for marketing, but only if prospective customers quickly understand who you are and what you can do for them.
Rising home prices create greater risk for buyers. As a result, they’re less likely to forego inspections, appraisals and other contract contingencies.
Home prices continue to rise and mortgage rates appear ready to follow. Some skittish buyers are jumping into the market now, fearful what could happen if they wait.
Saying it wants to save consumers billions, the consumer bureau issued a request for Americans’ junk-fee stories – iffy charges added to any financial product.
Buyers worried about rising interest rates and home prices pushed new-home sales to a 10-month high in Dec.
In the face of persistent inflation, the Fed announced Wed. it would soon raise interest rates. That’s likely to push all types of credit rates – including mortgages – higher.
Gathering leads isn’t the goal. It’s a step. To effectively convert leads into customers, agents should know how to identify the likeliest candidates.
Also: May condo unit owners request a list of fellow owners who are delinquent? And what are the rules for replacing carpets with hardwood floors?
Two out of three single women – the second-largest buying group – don’t need wedlock to buy a home, with 71% willing to move a future spouse in later.
It’s hard to work remotely with slow internet speeds, and the $400M in fed money could expand housing options to Fla.’s 21.2% of rural areas without broadband.
Nationwide, home prices rose 18.8% in Nov., and the S&P CoreLogic Case-Shiller index finds Tampa (up 29%) and Miami (up 26.6%) in 2 of the top 3 spots.
Consumers’ current attitudes rose even as future expectations fell. Still, the gauge of people planning to buy a home within the next six months also went up.
A 4Q 2021 NAR commercial report finds metros from Jacksonville to Miami and Naples with “the strongest overall commercial real estate market conditions.”
It’s not too late for these owners to save by refinancing – but if not, they also won’t feel locked into their homes, afraid to sell because “my interest rate will go up if I do.”
On Fri., the judge urged all sides in the Surfside condo disaster to work together to reach settlements before legal costs become a ponderous burden.
In 2021, the average homebuyer viewed a median of eight homes before making an offer – and three of those showings were done virtually online.
A South Florida Sun Sentinel study found that less than 1% of vacant land can be developed in Broward and Palm Beach counties – mainly scattered individual lots.
Americans won’t need identification for basic tax services via the IRS website, but for some functions, such as a childcare tax credit, they must register with ID.me.
Of all Fla. mortgage rejections in 2020, 21.8% were Black, second only to American Indian/Alaska Native. Nationwide, the denial rate is 84% higher for Blacks.
Fannie’s tighter loan requirements post-Surfside collapse started Jan. 1; Freddie’s start Feb. 28. In the meantime, the list of no-loan condo projects will likely keep growing.
Facebook provides an effective and free way to market a real estate business – providing agents maximize their chances for success.
While some Fla. cities prefer to limit short-term rentals, Daytona Beach’s mayor sees expansion into a core tourist area as a way to improve the neighborhood.
2022 RE Trends panel: Big and small biz relocations, plus the here-to-stay wave of untethered remote workers, will impact Fla.’s markets for years to come.
Most homeowners have equity, and at-risk ones will likely sell rather than face foreclosure. But an ATTOM study suggests that’s less true in a few U.S. areas.
U.S. rent grew 11.5% year-to-year, according to a CoreLogic index, with the Miami metro area leading the nation at 33%, and the Orlando area No. 5 at 15.9%.
According to HUD, it took “bold actions” over the past year, and it created a one-page list of the updates that will have an impact on the U.S. housing market.
2022 Real Estate Trends: Millennials are prime homebuyers for years to come and interest rates will rise. This year’s wild cards? Inflation and unexpected virus variants.
Rates had a notable uptick again this week to 3.56%, pressured by inflation and Fed plans to raise interest rates. A year ago, the 30-year FRM averaged 2.77%.
Fannie Mae’s new condo loan rules require lots of documentation, but what if an HOA doesn’t have it? And who pays the higher fee for reams of paperwork?
Florida Realtors’ Dec., 4Q and 2021 data: Year-end single-family sales up 12.9%, median prices up 20% ($348K); condo sales up 34.2%, prices up 17.2% ($252K).
Dec. sales rose 8.5% year-to-year but fell 4.6% month-to-month. NAR economist calls it “a sign of supply constraints” rather than “weakened demand for housing.”
Supply-chain problems have led to some new-home buyers moving in before completion, even as many builders order supplies months earlier than they once did.
For all of 2021, home starts were up 15.6% compared to 2020. Builders are slowly ramping up construction in spite of rising costs for raw materials.
As interest rates rise, fewer homeowners refinance. As a result, lenders are sitting on more cash and willing to ease lending criteria, notably for jumbo loans.
Construction firm survey: To keep up with projects, 3 out of 4 builders plan to hire more people in 2022, with 1 out of 4 slated to grow by 10% or more.
Florida Realtors economist: An infographic tool customizable by zip code empowers members to create personal, localized infographics they can share on social media.
As rents soar, investors buy more homes – but a Moody’s Analytics economist says that’s a potential precursor to price declines if they decide it’s time to sell.
If a person needs to hear something seven times in order for it to stick, an email drip campaign fills the bill. But generic emails won’t do the job.
Increased supply and some chopping of demand due to rising interest rates should make the market less competitive, with price increases returning to normal.
Builders remain extremely confident, but NAHB blamed a one point drop in its confidence index on inflation and the rising cost of raw materials.
RE Q&A: A potential condo buyer avoids credit cards and debt, but is financially secure. How can she make that clear to an HOA board that considers credit scores?
Linking via QR codes is just as risky as clicking attached email files. If QR code scams continue to grow, it could hurt their effectiveness as a marketing tool.
TCPalm study finds about 70 Treasure Coast condos have maintenance issues – but repair costs often present a problem if a lot of unit owners are on fixed incomes.
“What do I need to know to buy a home?” Teachers sound smart, and a strong social media education strategy impresses readers and draws in clients.
New ATTOM data suggests it’s cheaper to rent than buy in some Fla. areas – but it doesn’t consider future rent increases or savings, via equity, in homeownership.
At Florida Real Estate Trends (Jan. 20), a diverse roster of experts will discuss the growing number of residents moving to Fla. and what it means for the future.
Mortgage rates remain in near-all-time-low territory, but recent upticks have panicked some buyers who now hope to land a home sooner rather than later.
Fla. officials went into private backyards and cut down citrus trees in the early 2000s. Now, 17 years later, some owners will receive financial compensation.
Should a homeowner get the full homestead exemption if they rent out bedrooms? Two courts have said yes, but the Fla. Supreme Court will now take up the case.
At Florida Real Estate Trends (Jan. 20), a diverse roster of experts will discuss the growing number of residents moving to Fla. and what it means for the future.
After March 1, resident-owners will have 30-day exclusive access to bid on homes foreclosed by FHA before the government opens a sale to investors.
That tsunami of foreclosures expected when forbearance ended? Barely a splash. ATTOM predicts an uptick that won’t reach “normal levels” until year’s end.
The Fed announced it would tighten monetary policy more quickly, which pushed the 30-year, fixed-rate mortgage higher compared to last week’s 3.22%.
When Realtors, employees or association staff need help following a natural disaster, Florida Realtors Disaster Relief Fund steps in to help.
The business-loan money, part of HUD’s Community Development Block Grant program, requires that 51% of new jobs go to lower-income county residents.
Under Flood Risk Rating 2.0, how many homes in your zip code will pay more? NFIP exec says even increases are on par with yearly boosts under the old system.
Fla.’s sporadic cold weather makes space heaters popular, but last weekend’s Bronx fire and 17 deaths serves as a warning: Use them with safety in mind.
The number of homeowners who are late paying their mortgage (3.8%) is largely the same as it was before the pandemic began (3.7% in 2019).
Why the disconnect? The Consumer Price Index looks at all U.S. rents, while other rent-increase calculations consider only the amount charged to new tenants.
Congratulations Margy Grant, Merri Jo Cowen, Dionna Hall, Budge Huskey, Teresa King Kinney, Rei Mesa, Mike & Christina Pappas and Michael & Drayton Saunders.
Both U-Haul and United Van Lines listed Fla. as a top destination state. NAR’s chief economist credits affordability, job creation and lower taxes for the moves.
The online service aligns with national course standards – the level first-time buyers need to qualify for some mortgage products, like low-down payment loans.
If only there was a way to predict the future so you could prepare? There is. On Jan. 19, virtually and in-person, Fla. economists will unveil their 2022 predictions.
There’s a psychological value to an asking price ending in 9, like $399,000. But potential buyers searching for $400K-$450K homes won’t see it.
In light of the Parkland tragedy, South Fla. voters will consider voluntarily higher property taxes in order to boost school safety and pay teachers more.
While many people back the Fed’s long low-interest policies, some experts think it may be forced to increase interest rates more than three times this year.
The Fla.-owned “insurer of last resort” added 217K policies in a year. Lawmakers seek solutions, and a number of changes are being considered.
It may or may not be returned to owners. Also: What oversight rules will change due to the Surfside tragedy? Here’s what the Florida Bar recommends.
A Fla. legislative committee unanimously passed some Blue-Green Algae Task Force recommendations, including a septic tank inspection every five years.
Affordable housing advocates want the Florida Legislature to fully fund affordable housing this year, while insurers hope something is done about soaring costs.
Sometimes buyers’ general desire for a newer home can be countered by an older home that has been upgraded to be considered “energy efficient.”
“Matter” is a buzzword for the next stage in smart homes, and 20-plus companies offer “matter” that connects diverse tech products to a single platform.
“Aspirational pricing” doesn’t work well in any real estate market. Buyers will risk a bidding war only if they first see some level of value.
In today’s competitive market, more buyers are turning to a cadre of relatively new companies that help them submit an all-cash offer.
FAU and FIU: The hot housing market appears to be cooling in the West, but for some reason eastern U.S. cities continue to see rising price levels.
Many buyers focus on their credit scores for the first time and find errors, which aren’t always easy to fix. A CFPB report shows top credit score repair issues.
Fla. tourism officials don’t think so, though a panel of state economists slightly lowered their six-month expectations for Canadian and overseas tourists.
Mortgage bankers say buyers borrowed $1.6T last year for home purchases, topping the 2005 housing bubble’s $1.5T. They expect another new record this year.
Many times, ink isn’t dry on the listing contract before photographers show up, and sellers told to “get your home ready” aren’t sure what that means.
Energy companies are racing to create shingles that generate solar energy, and one firm says the cost might be only $15K more than a regular roof replacement.
An analysis of “competitive” markets in 2021 projects that Tampa will be the hottest in the U.S. this year, with Jacksonville and Orlando close behind.
Notes released Wed. suggest a shift in Fed officials’ attitudes, and policy changes could soon induce interest rates, including mortgages, to move higher.
The 30-year, fixed-rate loan rose from last week’s average 3.11%. A year ago, the FRM was 2.65%, though this week’s average remains low by historical standards.
The judge says he’s disappointed a late-summer trial won’t work, but lawyers argued it wasn’t a realistic timeline given the pace of the investigation.
After a summer dip, lumber prices almost tripled over the past four months. Builders say the increase adds more than $18.6K to the price of a new home.
FHFA is increasing the “G-fee” on most high-balance and second-home mortgages. Translation: After April 1, buyers seeking these loans will pay a bit more.
Many texts from scammers get blocked by security software, but sophisticated ones from professional scammers can still get through.
Despite high job openings, 4.5M workers (3%) quit their jobs in Nov. Analysts predict worker shortages likely will continue, but ease in 2022.
CoreLogic: From Jan.-Aug. 2021, millennials made up about 67% of first-time home purchase loan applications and 37% of repeat purchase applications.
RE Q&A: Is that the better plan, or should the co-owner draft a deed to safeguard his share for his friend and co-owner of the house?
Financial risks caused by climate change pose “a serious threat to the U.S. housing finance system,” says FHFA Acting Director Sandra Thompson.
A Dec. national poll found 69% of commercial RE brokers said they made more money in 2021 than in 2020, and a NAR report predicts a strong year in 2022.
Every Fla. property insurance company calculates “replacement cost” differently, but almost all will charge more next year – in addition to other standard increases.
Many economists say the economy exploded in 2021 as the nation emerged from lockdowns, and 2022 will be more of the same – but at a less hectic pace.
UF’s monthly sentiment index ticked up 2.6 points in Dec. Current attitudes were mixed, but people showed increased optimism about the economy later this year.
Property owners who wish to appeal their taxes must prove that their house is over-assessed – a tall order in an era of rapidly rising home prices.
RE Q&A: A mother wants to share title for one year and sign the home over to him because she has a stronger credit score. Is there a downside?
The NAR-produced TV show that focuses on the challenges and joys exhibited by first-time homebuyers, and its second season debuted recently on Hulu.
On Dec 23, a Coral Springs agent was killed inside her car near a house she was showing. The killer, a former tenant, allegedly mistook her for the landlord.
While attitudes about the current economy dropped slightly, consumers seem to think the future is brighter with the Expectations Index rising 6.7 points.
The drop reverses an increase in Oct. NAR Economist Yun attributes it to a tight inventory supply and buyer hesitation over rising home prices.
The current market favors sellers, but owners see slowing price increases and buyers being priced out of the market. Many who held off may decide it’s time to sell.
Inflation is weighing on buyer decisions, according to a study. While 24% now plan to move faster, 1 in 10 have canceled plans and 29% have decided to delay.
It’s the third straight month for increased sales. However, prices jumped 13.9% higher year-to-year as the inventory of for-sale homes decreased 13.3%.
One week earlier, a 30-year, fixed-rate mortgage averaged 3.05%; a year ago, it averaged 2.67%. Most economists predict more slight rises in 2022.
Florida Realtors: Condo sales dropped slightly year-to-year, single-family home sales and pending sales rose in Nov. Prices rose more than 19% for both.
The 20-city home price index climbed 18.4% in Oct. year-to-year – though the pace of that rise is down a bit from Sept.’s 19.1% year-over-year increase.
Fla. job growth will outpace the nation, says UCF, and the housing industry – an “albatross” in the Great Recession – will “be an important economic driver.”
Each type of co-ownership – tenants in common, joint tenant with right of survivorship and tenants by the entirety – has different rules, along with unique pros and cons.
Most parties can successfully negotiate a change to legal agreements if circumstances change, but here’s a chance to learn from other people’s mistakes – parties who failed to fully understand the contract they currently have.
Is it OK to use one of Florida Realtors’ residential contracts for a new-construction home? The short answer: No. The longer answer: Buyers likely lose important protections and it may lead to litigation.
The answer largely lies within the Code of Ethics, and while there are some specific requirements, the keyword for all transactions is “transparency.”
Dear Joey: Code of Ethics’ headings seem directed to specific people – fellow Realtors, members of the public, etc. Does that limit who can file certain types of ethics complaints? Or are the headings just headings?
Fannie and Freddie tighten condo-lending rules. Details vary, but they generally won’t back single-unit condo loans if a building has deferred maintenance issues.
The money goes to 10 local agencies across the state. Nationwide, HUD is providing $18M to support U.S. vets facing or experiencing homelessness.
The show is about Allure Realty, an all-female, Black firm in Ybor City. Office Mgr. Juawana Colbert hopes the professional female cast inspires all women.
A hotness study of U.S. metros – defined as days on market, sales above list price and sale-to-list price ratio – finds 8 are in Fla., and 7 of 10 are in SW Fla.
Your buyer wants to go to closing using cryptocurrency? You don’t have to be a technology expert, but it helps to know the language. Here are the basics.
The current market favors sellers, but owners see slowing price increases and buyers being priced out of the market. Many who held off may decide it’s time to sell.
Some buyers postponed searches, assuming prices would drop as they did in the last recession. But now homes they once considered are financially out of reach.
With buildable land drying up, more condo owners in older buildings are receiving deal-of-a-lifetime offers from developers who want to raze and rebuild.
The agencies sent letters to landlords and mortgage servicers, saying they’ve identified illegal treatment of military families and “will hold them accountable”
The Global Real Estate DEI Survey found a “clear mandate and momentum” within commercial firms to boost their focus on diversity, equity and inclusion.
“House poor” has nothing to do with size or the number of incomes. It reflects a feeling that housing expenses are higher than owners can easily handle.
And the boomers are winning. Despite huge millennial demand, they make up a smaller share of the market, suggesting repeat buyers are crowding them out.
Market dominance usually starts small: Identify a geographical farm area with strong sales, one where no agent dominates the market. Then become that person.
NAR’s relief fund raised $8.5M, thanks to 2,500 donations from Realtors, state and local Realtor associations, MLS organizations and other companies.
The real estate ad companies decided to remove crime data because it’s often inaccurate and has been cited as an ongoing cause of racial bias in housing.
The rare large-state honor, which recognizes goal achievement in five categories, shows that Fla. members understand the importance of political advocacy.
A Grand Jury tasked with recommending Fla. condo law changes in the wake of the Surfside collapse wants more inspections, less corrosion and faster reporting.
Housing prices will climb 5.7% and inflation, while declining, will be 4%. NAR Chief Economist Yun predicts interest rates will rise to a still-low 3.5%.
Looking to live on Silver Bell Circle or Mistletoe Drive? Agents in Santa Claus, Ind., say buyers from across the U.S. are moving in due to the town’s name.
The federal housing agency claims it saw thousands of cases of potential bias, based on a keyword search for red-flag words in millions of appraisals.
Mortgage rates changed little this week, though the survey took place before the Fed announced three possible 2022 rate hikes, which might have an impact.
For months, the Fed chair considered inflation a short-term problem, but Wed. he suggested that his patience ran out. The result: A probable increase in loan rates.
The jump follows a few months of moderate growth, and both single-family and multifamily improved. Building permits, a sign of future work, rose 3.6%.
It’s not just single-family owners holding onto homes: Multifamily owners have lengthened their hold periods due to cap rates, inflation and market dynamics.
In an abrupt policy shift, the Fed will also stop economy-boosting bond purchases twice as fast as planned, and possibly halt that program altogether in March.
Pundits who predicted a wave of rental evictions after the ban ended were wrong, in part because the process takes time. But evictions seem to be picking up.
Single men and women buy homes for the same reason – a desire for ownership – but while 19% of all homebuyers are female, only 9% are men.
A N.J. landlord will pay $4.5M to settle DOJ’s lawsuit and an additional $107K civil penalty – the largest amount allowed under the Fair Housing Act.
After the Fla.-owned property insurer’s staff announced its recommendation – an 8% average policy rate increase – the board rejected it and now wants a full 11%.
Experts weigh in, saying prices will keep moving higher – but not as fast – as demand from foreign and out-of-state buyers continues to drive the market.
The increase is an average and could be more or less for some homeowners. The request must first be approved by the Office of Insurance Regulation.
The public can attend a virtual meeting today and submit comments until Jan. 27. FEMA wants to make sure its planning rules consider climate change.
Of the at-risk homeowners leaving forbearance, 73% have at least 20% home equity – and 28% have at least 50%. They may sell but they can avoid foreclosure.
A/C and plumbing company Mechanical One will hold a drawing and give away two homes next Dec. – a bonus and one-year employee-retention incentive.
Dozens of lives were lost when tornadoes hit dozens of towns, and a local Realtor association’s building suffered major damage as people start to rebuild.
The company that lists residential flood risk on realtor.com released its latest report on commercial RE. It suggests that repair costs could rise 25% by 2051.
Many people want a higher quality of life, but lenders consider quitting jobs or opting for self-employment as a red flag that can scuttle a mortgage approval.
A new nationwide attempt to stop real estate money laundering could be massive – but there are a lot of “maybes” while FinCEN accepts public comments.
“Replacement cost” covers the rebuild of a destroyed home, and that option is now more expensive for the same reason new homes are: higher supply costs.
The tools on Instagram may be more real estate-friendly that some other social media platforms – and they’re a good place to highlight listings.
At least three Black homeowners in three separate states have now “whitewashed” their home after a low appraisal only to see it reappraise for more money.
Study: Men and women often interpret emoji facial expressions differently. Men see the yellow thinking face as positive, for example; women not so much.
A new report from Apartment List finds Fla. leads the nation in the percentage of renters (56%) who have to spend 30% or more of their income on housing.
Most homeowners won’t see radical changes under new pricing guidance, but some may be surprised their flood coverage costs less – or maybe more.
Offices once reflected their companies – the more expensive the décor, the more important the firm. But the pandemic and societal shifts are changing that.
Even experts have trouble accurately predicting mortgage rates, but given Fed moves, one suggests only a slight increase – about 3.5% overall in 2022.
HUD legal opinion: Special Purpose Credit Programs – a type designed to correct past lending shortfalls to protected groups – are legal under the Fair Housing Act.
If homes cost more in snowy states and upkeep is harder, why live there? Home prices in the top 10 snow-belt states exceed ones in the 10 least-snowy states.
Every U.S. veteran should be able to “build wealth through homeownership,” NAR Pres. Rouda Smith testified to a House Veterans Affairs subcommittee.
Evergrande had more than $300B in debt, and default causes a huge ripple in the global real estate funding pond – but its investors face the immediate risk.
Buyers planning to fix up an existing home face the same challenges new-home builders do: Expensive or hard-to-find items, such as appliances or lumber.
The Fed cut bond buying and may raise interest rates soon. But the 30-year, fixed-rate mortgage isn’t affected so far, down .01% from last week’s average.
The budget – a proposal to the Florida Legislature for the 2022 session – includes a number of Florida Realtors’ legislative priorities, such as affordable housing aid.
A 10% capital-gains tax reduction for properties owned at least five years expires on Dec. 31 since future purchases won’t qualify for the five-year time minimum.
A study to find the impact of new credit score data – rent and utility payments – found the biggest boost for consumers who haven’t used credit in at least six months.
Mortgage rates have been so low that most homeowners refinance and take out cash for home improvement projects. But that could change when rates start to move up.
Survey: Long-held ideas about work, home and commute times have been upended, and 41% of Americans would take a pay cut to live in a more affordable location.
Good, shareable video can expand a listing’s reach, but it’s underutilized by buyers’ agents. However, some private vendors can help video-averse agents.
In some cases, owners exiting forbearance can’t afford their home. But with rising values, many can still sell, turn a small profit and not harm a strong credit score.
A Conn. town reached an agreement with the Justice Dept. after it used zoning laws to ban disabled-adult group homes from residential neighborhoods.
Evergrande, a huge Chinese real estate firm, has a $310B mountain of debt. Collapse could create a housing crisis, but it’s unclear how China will handle it.
NAHB: During the pandemic, many city dwellers turned to suburban and exurb homes. The trend continues but less so as cities see a spike in buyer demand.
The short-term rental company will add an upscale doghouse to a rental for an extra $100. It offers five styles, including a chalet with a fireplace.
The foreclosure ban ended, sending numbers higher (up 34% quarter-to-quarter, 68% year-to-year) – but the impact on the market is minimal so far.
To retain their Realtor status, members must satisfy NAR’s Code of Ethics training requirement within the next 24 days if they haven’t already done so.
The Fla.-owned insurer wants fewer policies, and it’s proposed a law that would force homeowners to accept private coverage even if costs up to 20% more.
A month after shutting down Zillow Offers, the company’s home-flipping, iBuyer business, Zillow will buy back stock, which fell about 60% so far this year.
Foreign investors traditionally eye Miami but rising real estate costs have pushed them toward other metros, such as Orlando, Tampa and Jacksonville.
Chief Financial Officer Jimmy Patronis formed and deployed two new teams to investigate fraud – a total of 13 members that includes detectives.
As expectations for virtual “real estate” heat up, prices follow. That $2.4M buys 116 parcels (6,090-square-feet) in Decentraland, which only exists online.
Shell companies can’t buy RE in 12 metros without identifying actual owners – a way to curtail money laundering – and the U.S. hopes to expand the program.
Insight helps in a changing market. Florida Realtors’ 2022 Mid-Winter Business Meetings provide the edge you need to succeed.
Insurance experts: Fla. homeowners can expect to pay even more in premiums over the next decade if insurers’ losses cannot be significantly reduced.
Analysts: Fears over the omicron variant could drive mortgage rates lower and perhaps stall demand for what has been a rebounding office sector.
After increasing for 14 straight months, home price growth finally slowed in September. Experts say it’s a step in the right direction for buyers in 2022.
Insight helps in a changing market. Florida Realtors’ 2022 Mid-Winter Meetings provides the edge you need to succeed.
More real estate pros are advising clients not to use the clauses, which may give away too much info in a bidding war and hurt any negotiations.
The report says population density is part of the problem in increasing housing supply, as most consumers prefer living in single-family homes.
After increasing for 14 straight months, home price growth finally slowed in September. Experts say it’s a step in the right direction for buyers in 2022.
Agencies must apply by Dec. 30. The money can be used for a range of fair housing activities related to discrimination resulting from the COVID-19 pandemic.
A Brown University analysis finds the primary factor driving Americans’ neighborhood choice is race rather than income. Some things got better; others did not.
Rates ticked slightly higher than last week’s 3.10%. Many economists predict increases since the Fed says it will tighten monetary policies – but it hasn’t happened yet.
According to the analysis, only Fort Lauderdale (18.6%) comes close to that number. In Jacksonville, more than 1 in 4 homebuyers (28.1%) are investors.
In S. Fla., housing has never been affordable for most of its working-class population, and new challenges could take years to fix.
The key: Many relocating buyers explore prospective cities via Facebook Groups. The strategy: Join those groups and become the voice for local real estate.
Also: A non-gated community installed security cameras at entrances. Now board members monitor who comes and goes on their cellphones. Is that legal?
On Monday, NAR said that pending sales rose 7.5%, but it appears the buyer uptick includes fewer millennials as home prices rise beyond their reach.
Home prices continue to rise, but the pace of that rise seems to be slowing. Since June, year-to-year increases have decelerated for four consecutive months.
Office markets’ future – who will/won’t return – still isn’t clear, but it lost its No. 1 spot in total space in 2018 as the warehouse sector rose to the top.
The cap on conventional and FHA loans will rise notably higher next year, with caps in a handful of high-cost markets coming close to $1 million.
The Nov. Consumer Confidence Index fell from 111.6 to 109.5. “Expectations about short-term growth prospects ticked up, but job and income prospects ticked down.”
From Jan. through Sept., Citizens Ins. received an average 878 new lawsuits each month – a 45% increase compared to the same timeframe in 2020.
Want sun, sand and surf, and don’t mind a stove that’s two feet from your bed? Many people do, and Fla. ranked fourth for tiny homes, which cost about $50K.
The one-point decline to 70.8 isn’t big – but it’s the fourth month in a row for a decrease as rising prices and supply-chain frustrations take a toll.
Fla. tightened AOB rules, yet a “Direction to Pay” still allows contractors to direct bill insurers, with homeowners now on the hook if insurance money falls short.
U.S. home prices rose 18.5% year-to-year in 3Q, but the increases in eight Fla. metros ranged from 20.5% in Central Florida to 34.7% in Cape Coral-Fort Myers.
Remote work increased small-city demand, with two Fla. ones in the top 10: St. Petersburg rents rose 56.7% for one bedroom, Hialeah 49.2% for two.
Owners rarely study the outside of their home, but hanging lights presents an opportunity. How’s the roof? Any foundation cracks? Electric working correctly?
Contract lesson No. 1: Make sure one contract’s rider works with other contracts. Lesson No. 2: The Mold Inspection Rider only applies to the standard FR/Bar contract because the “AS IS” version doesn’t need it.
Before trying to schedule a rooftop air conditioning inspection, a condo buyer should first find out who’s responsible for A/C maintenance – the unit owner or the association.
It’s the holidays. That often means neighborhood parties, and those often include alcohol. Does that create any liability issues for an HOA event?
On-the-fence buyers fearful of rising mortgage rates and rental costs pushed pending sales up 7.5%; 2021 could now break a 15-year record for housing sales.
In the 1950s, 20% of Americans moved every year. Now it’s about 8.4% because a sedentary aging population and the Great Recession bumped it even lower.
NAR updated MLS rules at its recent convention, and Realtors may discover changes within their MLS on or before the Jan. 1 effective date. One change applies to marketing, however: A buyer’s agent can’t advertise their services as “free.”
One Month Ago, FR/Bar Contracts Changed Many Realtors study updates, but details can get hazy after a few months. However, Florida Realtors/Florida Bar help is still online, including the “talking contract,” videos and redline copies of the contracts.
The financing contingency can protect buyers – but only if they understand how their decision-making deadline (end of Loan Approval Period) works.
While new-home sales increased, the amount of that increase was less than economists predicted. Year-to-year, new-home sales were down 23%.
Homebuyers who think property taxes will match the amount the seller had paid often find they’re wrong – and rising home values may might make them very wrong.
After years of expansion, the average size of a new home started to come down – but a desire for more space in 3Q 2021 pushed new-home sizes 6.2% higher.
The widely reported news: A German Shepard sold a Miami mansion once owned by Madonna. It’s not true, and that story has been reappearing for 20 years.
The listing shortage forced some families to rent, but many recent sellers are opting to pocket profits and wait a year or so for a calmer real estate market.
Two-thirds of builders cited a glass shortage for windows, shower doors, etc. The supply problem? A lot of it is manufactured in China, Mexico and India.
Homes largely built in factories and assembled onsite cost notably less, and builders say that option can help solve the affordable-home shortage.
So-called love letters from buyers to sellers potentially raise fair housing concerns, but a brokerage says it violates First Amendment free speech rights.
Facebook and Microsoft envision metaverse growth, but it’s unclear if “living avatars” existing in a “hyper-real alternative world” are a fad or opportunity.
For the second year in a row, homeowners and insurers got through a hurricane season without facing any major storms.
Relief programs and slower consumer spending boosted the average credit score 8 points, to 716, putting homeownership within reach for more buyers.
Realtors® are known for their giving spirit and love of community. Help us gift a smile or two this GivingTuesday by supporting a worthy cause. Click to learn more.
Scammers created a fake “GoFundMe” campaign to raise money for a Florida Realtors’ member’s child suffering from a rare disease. Don’t believe it.
Other Fla. counties have not. Miami-Dade and Palm Beach counties distributed all their initial rent-assist funding, for example, but Broward had used only 32%.
Buyers keep an eye on mortgage rates, but there should be fewer surprises after Pres. Biden said he’ll rename Jerome Powell as chair for another four years.
Florida Realtors’ data: Demand, low inventory impact prices. Single-family home median sale price up 17.7% to $358,950, condo median price up 17.6% to $260,000.
Despite rising mortgage rates and a tight listing inventory (down 12% year-to-year), determined Americans kept purchasing homes in Oct.
The Corps of Engineers finished a $339M project to reroute excess water, which should cut St. Lucie River algae blooms that plagued nearby homeowners.
While indoor smoking is generally banned, some condo associations have started nixing it in outdoor spaces – but it likely requires a majority vote of unit owners.
Two experts clarified historic discrimination at NAR’s convention, saying homeownership helps “launch the next generation,” and many young Black adults lost that edge.
A VA loan is attractive if you’re active or retired military, but sellers sometimes think conventional loans present fewer problems. A larger deposit might help.
Inventory remains tight, but it could get tighter if more buyers arrive. Some S. Fla. agents say they’re already getting calls from returning international buyers.
The new law is controversial, but one element – a big investment in broadband for rural areas – could open up areas of Fla. to buyers who no longer commute to work.
Office managers aren’t sure about future space needs because they aren’t sure how many workers will return. In a tight labor market, many are letting employees decide.
NAHB survey: Almost 9 out of 10 builders can’t find enough framers and carpenters, with more than 55% of single-family builders reporting a shortage in 16 trades.
Get creative: Boost the curb appeal by tackling overgrown plants or with new paint. The right home staging can also help buyers see their things in the space.
Homeownership remains an American dream, perhaps more so as first-time buyers face escalating challenges. A Harris Poll found younger Americans (age 18-44) are more likely to consider homeownership an important financial goal (45%) than older, 55+ adults (30%).
At 3.1%, this week’s average 30-year-mortgage rate is barely higher than last week’s 2.98%, but any rise above a whole number can have a psychological impact on buyers.
After Zillow’s stock price fell, a shareholder filed a lawsuit alleging execs drove up prices with “misstatements and/or omissions” about its home-flipping business.
HUD’s “Climate Action Plan” has broad goals: Help communities prepare, set green building/electrification goals, create jobs and revise environmental review policies.
In Front Range, Colo., Zillow bought hundreds of homes and, in one case, outbid a private buyer already offering more than list price. Many sellers couldn’t understand why Zillow would pay so much for their home, thinking the company had a magic formula they didn’t understand.
In marketing content, a hyperlocal focus says, “I’m a friend who can help you navigate and love this community.” Start by keeping up with all neighborhood events.
The award honors the most active Realtor associations working internationally. The fifth-year-in-a-row win allows Florida Realtors to apply for Diamond status next year.
While construction fell in Oct. – builders blame supply and labor issues – a 4% increase in building permits suggest developers expect an increase in housing starts.
The national association’s 2022 president, Leslie Rouda Smith, is a broker associate from Dallas, Texas. President-elect Kenny Parcell is a broker-owner from Utah.
A closing gift isn’t just a gift – it’s a “remember me the next time you want to buy or sell a house.” The best ones show that you understand a buyer’s wants and needs.
An FHA report finds stability and suggests premiums – money paid by borrowers to offset future loan troubles – should be lowered. But HUD wants a “cautionary approach.”
Commercial real estate is often considered a hedge against inflation since rents can be increased and real estate values tend to rise.
NAR’s board and delegate body met in back-to-back meetings Monday. In addition to MLS changes, it focused on governance, financing, taxation, legal actions and more.
A property is “smart” if it has an internet connection and at least 3 “smart” items. That’s not very expensive to create now and 33% of U.S. homes are considered smart.
According to NAR, the changes create greater transparency for consumers and “more explicitly state’ the spirit and intent of the NAR Code of Ethics and policies regarding information about commissions and broker participation in the marketplace.” Policies take effect Jan. 1.
Buyers may find a newly flipped home more appealing because much of it feels new –, but not all flips are the same. An inspection is highly recommended.
Currently, Apple permits iPhone users’ survivors to delete data without reading, but a new “Legacy Contact” feature will allow them to designate data inheritors.
Forecasts always include caveats that may upend predictions, but NAR’s Lawrence Yun says the market is hot right now – and he sees more of the same in 2022. While next year’s sales may not surpass 2021 numbers, he expects a banner year compared to those before the pandemic.
The last time inflation rose as mortgage rates fell? Never. But the world is awash with cash, and that holds down mortgage rates, says Wells Fargo senior economist.
Even commercial sectors hit hardest by COVID-19 are showing signs of life. Given tight residential markets, though, office-to-housing conversions are a hot topic.
In Sept., NAR filed a petition asking the Dept. of Justice to change or drop its opposition to an agreement announced earlier. On Fri., it reacted to DOJ’s response.
The first step in building a strong newsletter that boosts marketing efforts? Think about your preferred readers – their desires, needs and interests.
It will be easier for international visitors to book short-term rentals. Airbnb will soon give renters a translation option that includes more than 60 languages.
The firm sold about 20% of the homes Zillow Offers currently owns to an investment firm, leaving it about 7,800 – but it goes up to 16,000 after pending sales close.
Owners who postponed selling during the pandemic – perhaps waiting for a sign that price increases were slowing – appear ready to list their home within the next six months. Many, however, plan to overprice it – and they expect bidding wars to push the final price even higher.
It took four years, but a 55-plus Poinciana community of 5K residents won a class action lawsuit against the developer over issues related to amenity ownership and use.
After WWII, white veterans got homebuying aid through the GI Bill, yet many Black veterans did not. A group of senators now want to offer that benefit to descendants.
International buyers sidelined by the pandemic are ready to meet with real estate pros in Fla. and across the U.S., though a lack of supply may prove frustrating.
Good cyber hygiene keeps potential attacks from becoming successful security breaches. Cybercrime’s cost is projected to rise 15% per year for five years.
Screening tenants is okay but only if based on valid data. A CFPB rule, backed by HUD, says relying on “same name comparisons” is a fair housing violation.
The fear of rapidly rising mortgage rates appears exaggerated, as this week’s 30-year, fixed-rate mortgage averaged 2.98% compared to last week’s 3.09%
Prices rose in 99% of the 183 markets NAR measures quarterly, and 16% (to $363,700) overall. Of the top 10 metros for year-over-year price gains, five are in Fla.
Between July 2020 and June 2021, U.S. homes sold at a record pace. However, many owners didn’t stay in their home as long, with average tenure dropping from 10 years in last year’s report to eight years this year. Still, 9 out of 10 buyers (87%) and sellers (90%) used an agent or broker.
The seller should disclose pending increases, but may be unaware. Ensure this info is being shared with residents, and only share the same info with applicants.
Florida Realtors’ data: Higher median prices – up 18.4% for single-family homes to $355,000; up 18.6% to $254,900 for condos – than 3Q 2020. Condo-townhouse sales up 13%, though single-family home sales were down slightly (-1.1%), at least in part due to tight inventory.
Realtor.com: Homes sold in the 50 biggest U.S. metros at an average of 39 days. Miami (No. 1), Jacksonville (3) and Orlando (4) were in the top 5 fastest-selling metros.
The seller should disclose pending increases, but may be unaware. Ensure this info is being shared with residents, and only share the same info with applicants.
Stastica: 43% of TikTok users are age 30 and older, a good demographic for home buyers. Benefits of TikTok ads include higher conversions and more website visitors.
The share of investors is at the highest level since 2015, says realtor.com®. Investors are most targeting the Midwest and Sun Belt, where rental prices are climbing.
CoreLogic’s latest report notes high buyer demand amid a supply shortage. From Aug. to Sept., home prices rose 1.1% to reach a new high, but they may soon moderate.
The 18K homes Zillow owns or will own under its cancelled iBuyer program will be sold, though the WSJ says many may be sold directly to single-family rental firms.
On July 1, 2021, a new category of HOA records was added to the “not available to members” list – the names of visiting guests recorded by gated communities.
Soon, mobile devices with LiDAR Scanners (newer Apple products) can measure interior space, explore potential updates and schedule work. Flooring will be offered first.
The Fed considers economic risks in its stability report – what could upend a solid, growing economy? Overall, it finds less to worry about than it did a year ago. However, it’s keeping an eye on COVID-19 breakouts, and it sees some risk in rising home and stock prices.
Study: A 20-city analysis found that downsizing to a smaller home can save retirees almost $200K over 10 years, assuming adult children have left the nest.
If marketing entices customers to make contact, an agent’s website should seal the deal. Most people will visit a website for more info before picking up the phone.
An accessory dwelling unit (ADU) can cost an average $180K, but extra space to rent out or use for family is in high demand in the shadow of rising rental prices.
A pro-business law that allows residential owners to operate businesses out of their home may get clarification after an early applicant proposed an ammo-supply shop.
By using shell companies, crime money may buy real estate, or be “laundered” into a legitimate investment. But FinCEN forces S. Fla. buyers to identify themselves.
The bill includes some long-term NAR goals, including expanding broadband access. But it’s concerned with ongoing GSE fees charged by Fannie Mae and Freddie Mac.
Survey: For first-timers, it’s not just finding a house and putting in a winning bid, though that provides enough stress to deter some buyers from the market. 80% of first-timers lost at least two days off work, 39% faced down payment problems and 37% were outbid at least once.
Is there a bigger lesson for iBuyers? Many analysts think it says more about Zillow and its iBuying operation than it does about iBuyer models overall.
In Aug. the average renter of a $1,179 unit was paying 30.3% of their total income, or slightly above the percentage generally considered OK for “making ends meet.”
More mortgage applicants will find it easier to get approved now that Freddie Mac joined Fannie Mae in making on-time rent payments a lending consideration. But each system is a bit different. Freddie says it will provide incentives to multifamily owners that automatically report on-time payments.
The inventory for homes smaller than 1,400-square feet has hit a 50-year low – and it’s the same record-low inventory eyed by many first-time buyers.
Also: Are email addresses confidential? A candidate running for the board asked current officers for a copy of every resident’s email address.
A Jacksonville-based firm connected investors with projects via crowdfunding, but a judge ruled it was fraud. The owner pleaded guilty and will serve 21 months in prison.
Survey: “Commute time to work” may be less important to urban buyers. After a year of working from home, slightly over half say they now see some benefits.
Average mortgage rates moved higher over the previous two weeks, but this week’s 30-year, fixed-rate mortgage dropped from last week’s average 3.14%.
Targeted ads work if software builds a profile of users. With Apple’s new privacy options, however, apps have more trouble collecting needed data for targeting.
The central bank bought bonds to keep mortgage rates low, and it will start “tapering” those purchases. It means rates will likely move higher – but that’s not assured.
The LendingTree study also identified Fla. as a top destination for out-of-state movers: More than a third (36%) of state-to-state movers preferred relocating to Fla.
All U.S. companies with 100+ employees must confirm employees’ vaccination status or have them supply a negative COVID-19 test once per week starting Jan. 4, 2022 – but the rule likely won’t affect most Fla. RE brokerages.
A survey found that the pandemic shifted some buyer priorities. The desire for a safe neighborhood became more important than the cost of living or local schools.
Urban Institute report: The mortgage-denial rate for Asian Americans is 8.7% compared to 6.7% for whites, despite the former’s generally better credit scores and income.
Desktop appraisals – a temporary pandemic policy now made permanent – is less than a full on-site appraisal yet more than just software used for quick online estimates.
About two weeks after publicizing a temporary pause for its iBuyer program, Zillow Offers, the company announced that the program would be phased out altogether. “Forecasting home prices far exceeds what we anticipated,” it said, resulting in “too much earnings and balance-sheet volatility.”
In 2018, Fla. lawmakers approved year-round Daylight Saving Time in keeping with the Sunshine State’s theme. But Congress still hasn’t signed off on it.
A natural language processing program will describe listings for you. It only needs to scan photos to write things like, “The home has four ceiling fans.”
Urban Institute report: The mortgage-denial rate for Asian Americans is 8.7% compared to 6.7% for whites, despite the former’s generally better credit scores and income.
Oct. consumer sentiment dropped 3.6 points, the third month in a row for sinking attitudes. At least part of the reason: Issues that slow recovery aren’t resolved.
“Solar-powered home” sounds like a great money-saving deal, but buyers should study possible costs before committing. Not all property insurance companies will cover solar panels, and the ones that do have a wide-ranging set of rules and inconsistent coverage pricing.
While Canadians and Realtors cheer Nov. 8 border re-openings, foreign visitors will be competing with an uptick in Americans now calling Fla. their winter home.
It has a tricky job though: curbing inflation without hurting the economy. For homebuyers, it might mean slowly rising mortgage rates as the Fed cuts back on bond buys.
In 3Q, multifamily Palm Beach County rents were up 28% year-to-year, as out-of-state newcomers and low inventory created lots of demand for too-few available units.
The fastest route to a destination may not be the cheapest. A new tool helps Google Map users save money (and the planet) using those routes that minimize fuel costs.
Almost 1 in 4 Americans (22%) is a millennial. As homebuyers, they made up more than 1 in 3 (37%) customers over the past year, according to Barron’s.
The rule that requires title companies to identify actual buyers – not shell companies – in 12 major U.S. metro areas now stays in effect until April 29, 2022.
A 56-page report looks at potential Fla. economic damages caused by a changing climate, such as agriculture and even the tax base of local governments.
Bubbles won’t pop, but fast price increases have made some experts take note. While the growth rate slowed, buyers in a few areas face a tricky price vs. worth balance.
Fla. and nine other states will share more than $2B in CDBG-Disaster Recovery Funds. The Fla. money is a response to Hurricane Sally (Sept. 14-28, 2020) damage.
High prices last spring stemmed from supply problems as the industry emerged to non-pandemic operations. Now it appears to be a demand problem.
Most international visitors must be fully vaccinated, and some approved exceptions must quarantine for seven days after arrival. Children under 18 don’t need a vaccine if with vaccinated adults, but they’ll be tested for COVID once here. The CDC is still posting info to its website.
Several signs suggest it may be a good time to buy. Competition has cooled, listings receive fewer offers, and about 1/3 of metros have seen an uptick in new listings.
Buyers judge agents at open houses. Agents should be sharp and well rested, and come armed with info that makes them sound like the go-to neighborhood expert.
NAR says the deal that appears close to finalization includes many real estate goals it wanted, including $150B for affordable housing and keeping like-kind exchanges.
Calling it “the crisis of this generation,” FEMA created a single unified agency to ensure all department decisions and actions address the threat of a changing climate.
Also: A condo owner lives in a 125-unit community, and was told they need a website and must post certain official records. Must they? And: An independent contractor/handyman doesn’t legally need workman’s comp insurance. Is it okay to use him?
Time to update tech equipment? Good luck finding it at a reasonable cost. It’s taking up to 120 days to deliver some types of commercial computers.
In Austin, Lennar teamed up with ICON to build the largest community of 3D homes to date. The builder says the method will help it avoid current supply chain shortages.
After floating in a just-below 3% range for months, mortgage rates headed higher for the past two weeks. The likely reason: Increased optimism and a drop in COVID cases.
Chief Economist Yun: The overall market is still running comfortably ahead of pre-pandemic levels, and the drop is a sign of a “calmer home price trend.” However, there will continue to be less inventory through the end of the year – a normal fall drop following the summer months.
Also: The board passed a motion to do something and the meeting adjourned. Now a board member wants to cancel. How can this be done?
Different supplies cost more but are cheaper than delayed closings, builders rationalize. They’re asking, “What else can I use?” for things like plywood and insulation.
https://www.floridarealtors.org/law-ethics/2021-residential-contract-updates
Scam alert: The pandemic led to an increase in online transactions, giving scammers a new window of opportunity: They’re contacting members as sellers who want to list their “home” – but it’s for a property they don’t actually own.
A listing agent told a buyer’s agent that they’d call back to follow up. But they didn’t. Is there a cooperation requirement that says an agent should always return calls and texts?
Chapter 475 oversees real estate licensees, but Fla. licensees also have other obligations under Chapter 455. It’s a growing problem for licensees called before FREC, because “I didn’t know I had to report that” doesn’t carry much weight.
Why go back to an office if your chair is comfy and you’re 10 steps away from coffee? To entice workers, office remodels are adding lounges, green spaces and gyms.
PPP loans – the best-known business aid of the pandemic – ended May 31. But there are other options, such as EIDL or SBA 7(a) loans, plus local or state grant programs.
HUD’s complaint focused on a Phoenix-area renter who said their landlord didn’t provide needed language services. The owner will pay $34K and update procedures.
In a couple areas, builders that broke ground on new homes earmarked for city-fleeing residents are seeing a drop in demand and cutting prices.
Some buyers have seen tons of homes, put in multiple bids, lost out each time, gave up and signed another one-year lease. That doesn’t mean they don’t still dream about owning a home; it means they’re burned out on the buying process and will be back after they recuperate.
Most economists in an annual survey agree that the U.S. economy will continue to grow next year. Two out of three predict 3%-5.9%, but 1 in 3 says only 0.1%-2.9%.
In 5 days, new FR/Bar contract versions will be released. Are you ready? Florida Realtors Legal Hotline already expects calls from members who didn’t prepare.
You get a lead. You call and no one answers. Frustrated, you move on. Big mistake. Here’s a simple plan for getting people to pick up the phone.
20 housing groups want more out of Fannie and Freddie’s “Duty to Serve” regulation – specifically more funding for manufactured, rural and affordable housing.
The S&P CoreLogic Case-Shiller 20-city home price index soared 19.7% in August compared to one year ago – only slightly less than July’s 20% jump.
New single-family homes hit a seasonally adjusted annual rate of 800K units last month – well above economists’ expectations.
After three declining months, U.S. consumers felt better in Oct. about both the current and future economy, with the confidence index rising 4 points to 113.8.
Beyond a home’s sentimental value, 74% of older adults surveyed said buying was the best financial decision they ever made. For 73%, it’s their most valuable asset.
A cross-agency coordinated effort will focus on lender actions and attitudes that maintain racial segregation. Agencies plan to investigate and prosecute discrimination.
A Jacksonville court sentenced a 27-year old to two years in prison for lying on an aid application after Hurricane Irma; he must repay $8K to the federal government.
First rule of LinkedIn: The more connections you have, the more potential clients you have. And think of your summary section as a personal advertisement.
An interview with 1,700 RE experts found high expectations for the real estate market in 2022. Traditional spaces – homes, offices, shopping centers, etc. – have changing expectations, but 75% of investors now feel confident about their decisions. Last year, less than 50% said the same.
The average American homebuyer is 45 years old, married or partnered, college-educated and likely buying a home located in the South; 26% are age 30 to 39.
In two weeks, fully vaccinated Canadians can return to Fla. While the housing-market impact isn’t clear, travel agents report a “significant uptick” in reservations.
Biophilic design attempts to bring a suburban atmosphere into urban cores. The main tool? Plants – and lots of them, often incorporated into a building’s design.
Fla. isn’t seeing a lot of new record-high temperatures during the day, but a tracking of overnight lows in Central Florida found 807 record highs from 2015 to 2020.
Recently aware that some communities have historically been one race or another, an increased number of buyers are adding “racially diverse neighborhood” to their list of must-haves. But that doesn’t always help lower-income neighborhoods if it causes gentrification and rising home prices.
In Walton County, commissioners shut down beaches during the pandemic, including private ones. Homeowners sued claiming they deserve compensation, but a judge said no.
Refreshing old brick exteriors with paint gives a listing a new, clean look. But what if the current trend fades? Removing paint later is close to impossible.
Planned changes by the Fed will likely push mortgage rates higher – but refis will dry up, and lenders may still offer deals as they compete for homebuyers’ loans.
The average for a 30-year, fixed-rate mortgage moved notably higher this week. Freddie Mac economist blames “the trajectory of both the economy and the pandemic.”
How many new homes are being built? A study looked at building permits and year-to-year increases as of June. Out of all U.S. cities, 10 Fla. metros are in the top 20.
While the inventory of for-sale homes is down 13% year-to-year, NAR Economist Yun credits a boost in supply for the increase, and buyers’ fears of rising interest rates.
Florida Realtors’ data: Median prices up 18.3% for single-family homes to $355,000 year-to-year; up 17.2% to $255,000 for condos. Single-family home sales down 1.3% year-over-year; condo sales up 4.9%. However, Sept. 2020 saw a huge sales surge because the pandemic shifted transactions into summer and fall, says Chief Economist O’Connor.
NAR and others held a meeting and pushed for Congress to keep housing dollars in the massive infrastructure project, saying it “must stay in the reconciliation package.”
14% of millennials would use home equity for a vacation compared to 3% of boomers. But 64% of boomers would tap it for home improvements, compared to 49% of millennials.
The magazine’s 2021 list ranks Fla. metros in the top four spots– Sarasota, Naples, Daytona Beach and Melbourne – but 7 other Fla. metros also made it into the top 20.
Halloween topics, like trick-or-treating safety tips, can boost posts but even a consistent fall theme can increase engagement and create a feeling of mutual celebration.
Over the past 7 quarters, Tampa-St. Pete had the nation’s second-highest rent increases (23.7%), with Jacksonville No. 3 (up 23%) and Broward County No. 9 (19.5%).
Rising lumber costs pushed new-home prices higher and higher. While that supply-chain problem is easing, however, other building materials are still in short supply, even as builders face a labor shortage and high buyer demand. The bottom line: New-home costs won’t plateau anytime soon.
The contest to recognize Realtors who serve their communities selects 5 Realtors each year. In 2021, Christina Sauger was honored for her work feeding those in need.
FHFA announced this week that remote appraisals for conventional loans – a temporary pandemic-era change – will become a permanent option starting in 2022.
United Wholesale Mortgage, the U.S.’s second-largest lender, decided it won’t be the first to accept bitcoin, citing its incremental costs and regulatory uncertainty.
An iBuyer program can help homeowners willing to take a slightly lower price in exchange for a quick and easy sale. But sellers aren’t willing to come down too much, and Zillow may not have enough resources under current market conditions to essentially be a large-scale home flipper.
Most new phones make it easy for users to snap and go. A QR code on a for-sale sign, for example, can help pedestrians quickly secure listing info and the agent’s bio.
Under U.S. tax law, payers can have only one official residence, and lockdowns may have changed the state a vacation owner calls “home.” But it’s also not that simple.
The company that created realtor.com’s flood risk tab released a report by city and county. Fla. and Louisiana are top-risk states – but so are Kentucky and W. Virginia.
Starts dropped 1.6% overall, but single-family changed little with multifamily down 5%. Year-to-date, however, single-family starts are up 20.5% compared to last year.
Commercial brokers have always crunched data to make sure an investment makes financial sense. But high-tech analytics can take that analysis to a new level.
The Oct. builder sentiment index rose 4 points higher to 80. Any 50-plus score indicates optimism, so today’s hot market still overshadows supply-chain worries.
FHA, VA and other government-backed loans are often favored by first-time and low-income buyers. But in bidding wars, cash offers or conventional financing seem less problematic to sellers. As a result, low-income buyers face yet another hurdle if they hope to become owners.
The usual move-to-Fla. reasons – sun, beaches and no income tax – omit one item: home-heating costs. A harsh NE winter this year could push natural gas prices 50% higher.
Starting in 2022, homeowners with an affordable loan backed by Fannie Mae can fulfill the education requirement using a qualified third-party vendor.
How much does student-loan debt impact buyers? A three-year NAR study calls for reform, noting that millennials are “drowning in student loan debt.”
While stories about multiple offers and foregone inspections are pervasive, a study found that most buyers won by their second bid and 88% had a home inspection.
The U.S. will increase loan caps for multifamily housing by 11.4% next year, and 50% of the $156B total ($140B this year) must go to “mission-driven affordable housing.”
A new 40-page report takes a broad view on steps being taken to mitigate risks, including possible HUD and VA buyer disclosures on flood and climate-related threats.
The head of Citizens Property Insurance calls losses among all state insurers “absolutely staggering.” He blames the marketplace itself, saying it impacts every company.
In the U.S., closing costs, including taxes, were up 10.5% year-to-year, and almost $7K for an average price home. In Fla. it’s a bit higher: $8.5K for the average home.
Florida Realtors economist: Real estate’s residential side has been on fire since summer 2020. How has the commercial side fared? It’s hot – and it’s not. It depends on where you look. The delta variant of COVID-19 slowed the office market even as it relit a fire under other commercial sectors.
In response to the Surfside condo collapse, Fannie Mae says its condominium loan decisions after Jan. 1 will include a stronger look at the overall condo building. Loan decisions will consider current or planned special assessments and any deferred maintenance issues.
Average mortgage rates continue to hover around 3%, but they’ve slowly ticked higher. This week, the 30-year, fixed-rate mortgage averaged 3.05%.
The U.S. birth rate is the lowest it’s been in more than 100 years, and pregnant homeowner couples are a top reason buyers decide to upgrade to a large house.
Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.
Officials say Canadians can start returning in early Nov. if they’re fully vaccinated. One twist: It’s unclear if that includes Canadians who got two different vaccines.
In 3Q, the number of U.S. foreclosures surged 67% year-to-year as homes exited forbearance and bans ended. But compared to “normal” 3Q 2019, they’re down 60%.
It’s not enough to pack survival tools and photos when evacuating before a disaster. Pack cash too – or at least have credit that can help you cover the first few days.
The Biden Admin. wants a $500K limit for like-kind exchanges, which allow investors to defer taxes. If enacted, the change could have a big impact on commercial RE sales.
How can the state mitigate condo disasters following the tragedy in Surfside? A Fla. Bar task force pulled together experts and submitted its recommendations on Tues. In Sept., Realtors outlined the problems condo buyers face getting important docs, suggesting better records and tighter oversight.
A Va. homebuyer bought a home sight unseen and wanted to “return the house.” He killed his real estate agent who went over to talk about it and, later, himself.
More roommates are committing to long-term relationships and co-buying a home. ATTOM says the number of co-buyers with different last names surged 771% in six years.
Fewer buyers qualify for conventional mortgages due to higher prices and lower downpayments. As a result, the number of jumbo loans is at pre-Great-Recession levels.
In Aug., 13% of appraisals came in below a home’s contract price. It was higher in May (19.7%), but is still up compared to sales early last year (7.3% in Jan. 2020).
Before the Great Recession, mom-and-pop investors owned most single-family home rentals. But today, large institutional investors have turned it into a big business.
Business is good, according to NFIB’s monthly study – but it would be better for small companies if they could get more workers and not worry about inflation.
Survey: Remodeling skyrocketed during lockdowns with many homeowners focused on their bathrooms. The desire to “soak in a bathtub” rose 6 percentage points.
Buyers are allowed to tour vacant homes without an agent. Redfin’s app unlocks the door, and an agreement with ADT provides monitoring and security.
After the 12-story Surfside condo complex collapsed, experts wondered if condo demand would decline – but 3Q Miami-Dade condo sales were the highest in years, with luxury units selling at a record pace. Any stigma seems isolated to older inventory and buildings close to the Surfside tragedy.
Systemic racism is hard to define, but a study found that many educated Black and Hispanic buyers have trouble buying a home because they owe larger student loans.
A proposed rule will ban evictions without giving tenants 30-days’ notice and providing info on federal emergency assistance available to them.
It’s likely more Canadians will snowbird in Fla. this year, but they must be fully vaccinated to return home – or even to vacation in a different Canadian province.
A woman’s credit score dropped 100 points after she opened a Home Depot charge to purchase a $9 can of paint. She made a TikTok video to warn other buyers.
HUD says it will consider climate risk when underwriting loans (VA, Agriculture, etc.), promoting new energy-efficient housing and updating guidelines for grants.
Florida Realtors economist: NAR’s latest Florida Realtors Member Profile looks beyond 2020 home sales and prices, providing a closer look at the Realtors who made it happen. It provides details such as the state’s Realtor demographics, businesses and community commitment.
CoreLogic: Homeowners with mortgages – about 63% of all U.S. properties– saw a 29.3% annual increase in equity, averaging out to a gain of about $51.5K per borrower.
In the biggest 20 U.S. metros, you could save an average of $194K going from a 4-bedroom to a 2-bedroom home. Miami metro downsizers were 5th on the list for savings.
To be successful, treat it like a business. Keep a cushion of several months’ expenses to carry the property’s costs in case of any issues like a non-paying tenant.
Fannie Mae’s index dropped 1.2 points in Sept. More consumers (66%) thought it was a bad time to buy a home while only 28% believed it was a good time to buy.
If you pay a vendor to handle Facebook for you, make sure you know how that vendor will handle a disruption like the outage that happened on Oct. 4 under your agreement.
A real estate leader and role model who knew how to “light up a room,” the former Florida Realtors president and NAR president died Aug. 4, shy of his 92nd birthday.
Such a solution is needed to “maintain stability and faith in the American economy,” said NAR Pres. Charlie Oppler, following a meeting at the White House.
Remote work sparked demand for short-term housing with flexible terms. Some estimate the number of workers who remain fully remote will eventually top out at about 20%.
The average 30-year fixed-rate mortgage decreased slightly this week, easing to 2.99%; it was 3.01% last week. The 15-year FRM averaged 2.23% this week.
Think millennials don’t care about homeownership or just want to live in the city? Those are myths. The majority of millennials buy homes in the suburbs for instance.
More buyers are turning their attention to condos and townhomes these days. Realtor.com’s top 10 list for growth in condo and townhouse prices includes six Fla. cities.
RealtyTrac: 48% of individual RE investors see the investment market as worse than a year ago; and 57% of investors cite lack of available inventory as a top concern.
Mortgage rates remain historically low. However, industry observers say borrowers should not misinterpret the surge last week as being the last one in 2021.
First, plan how to best show the listing’s standout features, then write a script that matches the video images. Keep in mind equipment needs, too.
Financial experts suggest carefully evaluating monetary, personal comfort and family needs when considering downsizing upon retirement. Weigh the pros and cons.
Emergency management professionals advise you to check your insurance, call your insurance company and find out what’s covered under your policy. And if your home is flooded, hire a mitigation firm to vacuum out water as soon as possible.
Emergency management professionals advise you to check your insurance, call your insurance company and find out what’s covered under your policy. And if your home is flooded, hire a mitigation firm to vacuum out water as soon as possible.
Fed Reserve of Atlanta: The median U.S. household currently would need 32.1% of its income to cover the mortgage on a median-priced home, the highest since 2008.
Mortgage Bankers Association: With home price appreciation continuing to rise, last week’s average now marks the highest average mortgage amount since May.
NAHB: Since COVID-19, more Americans want bigger homes: The share of single-family homes started with 4 or more bedrooms rose from 42.6% in 2019 to 45.2% in 2020.
Entertaining real estate memes can attract social media users like millennials, who may look at 20 to 30 memes daily, which could lead to a 60% increase in engagement.
17% of buyers who couldn’t qualify for a mortgage should have better luck now that Fannie Mae includes rent history in its lending decisions. Lenders consider a history of on-time rent payments a strong predictor for whether borrowers will make regular mortgage payments.
A possible government shutdown – and potential speedbump for closings – was postponed until at least Dec. 3 after Congress voted to approve a short-term extension.
When calculating affordability, low mortgage rates have offset rising home prices so far, but 75% of U.S. counties are now less affordable than their historical average.
A listing description’s first sentence should answer readers’ top question: “Why should I keep reading?” Most of the time it will note the home’s most desired feature.
Homeowners with a mortgage gained an average $51,500 in home equity in the second quarter – a 29.3% year-to-year increase. It’s the biggest jump since 2Q 2010.
People quit jobs if they grow discontented, and rising rental costs may be causing some discontent: 51.2% of workers say they plan to look for a new job this year.
Help generally comes in the form of support and listening, but the right balance can be challenging. Also: What should you do if a co-worker is being sexual harassed?
Nationwide credit scores fall about 20 points in the months following a home purchase, but they bounce back fully in less than one year. In four Fla. cities included in a LendingTree study, the full credit-score rebound ranged from 332 days in Miami to 387 in Jacksonville.
Texas single-family landlords refused an applicant who wanted to create a group home for people with mental disabilities. HUD says that’s a fair housing violation.
After weeks of little movement in the 2.88% range, the average 30-year, fixed-rate mortgage rose to 3.01% this week. Economist cites “many factors” pushing the increase.
MIT Study: Older Americans living in areas with shorter life expectancy (bottom 10%) live 1.1 years longer if they move to a peak area (top 10%) for life expectancy.
“Sharing data helps all of us,” said a speaker at NAR’s recent C5 Summit. But many commercial brokers avoid technology and keep info “close to the vest.”
No two shutdowns are the same, but the IRS would likely stop verifying homebuyers’ Social Security numbers and income. That created backlogs in earlier shutdowns.
What future risk does a changing climate present for a property? So far, lenders seem unprepared to even gauge that risk, much less mitigate a potential impact.
Facebook posts should be relaxed and accessible, but a handful of tools can make consistent posts easier to schedule and more appealing to readers.
NAR Economist Yun credited “rising inventory and moderating price conditions” for bringing more buyers back to the market. A separate realtor.com survey found three Fla. metro areas to be “hottest markets,” including the areas around Orlando, Tampa and Jacksonville.
When creating a list of must-haves and would-likes, three out of four homebuyers include some consideration of disaster risk, according to a realtor.com study.
Starting Fri., the U.S. Postal Service will “implement new service standards for First Class Mail and Periodicals,” spokeswoman Kim Frum said in an email to USA TODAY.
Listing brokers determine cooperating compensation, either an amount or percentage. However, the issue has been a frequent topic of discussion in today’s market of thin listings and high buyer demand.
It’s important for buyers and sellers to fully read a contract and ask about any words that confuse them. In the Far/Bar AS IS contract, “deem” appears 10 times and “waive” 12 times, but some Florida Realtors Legal Hotline callers seemed confused about their definitions.
Buyers who want to make their offer more appealing sometimes consider changes to the contract’s “Loan Approval Period.” Of the possible changes they can choose to make their offer more appealing, this one may carry the highest risk.
A seller gave explicit instructions to the listing office: No showings unless the buyer supplies proof of funds first. But the buyer’s agent doesn’t want to disclose that kind of personal info just to see a home. Does he have to do it anyway?
Of the top 10, three are in Fla. NAR says it analyzed 390 commercial real estate markets and found a “robust recovery with positive net absorption and strengthening rents across the multifamily, industrial and retail property markets.” However, the office sector continues to struggle.
National consumer confidence fell for the third month in a row. Economist Lynn Franco says the delta variant spread dampened optimism, but inflation fears eased a bit.
A podcast can connect you to a lot of people and being “the community expert” can draw in a lot of leads. If you’re going to do a podcast, focus on that local insight.
Consumer sentiment dropped for the second month in a row, though attitudes about personal situations rose – both current outlooks and expectations for next year.
Multifamily property owners with a Fannie or Freddie loan will be offered forbearance indefinitely. In exchange, they must follow rules that limit tenant evictions.
A price increase of almost 20% year-to-year is unheard of – until now. Home prices hit record highs in 19 of the 20 cities included in monthly Case-Shiller reports.
Citizens, the state-owned property insurer, is expected to have 1M policies by 2022. It’s looking at new tactics that could force covered owners to get private coverage.
Homeowners have read bidding-war stories and heard about homes selling for thousands of dollars more than asking price. Now they’re becoming sellers and think they can overprice their property, but the market is seeing more price reductions – 9.4% in Aug., says Zillow, up from 8.6% in July.
Low interest rates and a severe shortage of homes for sale are contributing to rising costs for renters and would-be homebuyers, even as more rental homes are sold.
Here’s one: “Sorry,” often used as “Sorry to bother you, but …” If you often offer an unnecessary apology, it makes you sound somewhat timid.
While overall home sales show signs of cooling as prices rise and buyers step back, NAR Economist Yun doesn’t see that reflected in sales of vacation homes.
It means a neighborhood is changing from low-income to trendy. It’s good for early buyers, but it’s bad for lower-income owners who can no longer afford to live there.
Called Argus, the risk management platform’s artificial intelligence capabilities should reduce HUD’s time spent manually monitoring program grantees by over 75%.
Today’s market isn’t like the boom-bust cycle leading up to the Great Recession: Tough loan standards are the norm, plus many factors have kept housing supply low.
U.S. Commerce: Sales of new homes last month were up 1.5%, reaching a seasonally adjusted annual rate of 740,000 – more than economists expected.
Couples may happily disagree in life, but when they have to share a home the differences can come to the forefront. The top reason for a fight? A home’s price.
If Republicans and Democrats fail to reach agreement by Sept. 30, some services – such as NFIP, IRS and more – could slowly shut down, possibly delaying transactions.
NAR’s Technology Board made recommendations that will go into effect if approved by a Multiple Listing Service committee and NAR’s board. Among them: Participants can’t represent that their services are free, and listing ads can’t be sorted or filtered based on the level of compensation a cooperating broker offers.
A syndicator combines money from multiple investors for a single project. Due diligence requires consideration of at least nine things – but trust tops the list.
A Faberge egg on the mantle? The location of a home safe? Agents should take steps to protect their sellers’ privacy and safety when they create 3-D listing tours.
Citizens Property Insurance expects to exceed more than 1M policies sometime in 2022 – and private insurers will rack up more than 1B in losses by the end of this year.
The 30-year fixed-rate mortgage averaged 2.88% this week, a small increase from last week’s 2.86%. Freddie Mac credits foreign investors for keeping rates low.
A Freddie Mac study of 12M appraisals found that 13% of homes in Black neighborhoods were below contract price; in white tracts, it was 7.4%; in Latino it was 9.4%.
Florida Realtors’ data: More new listings and higher median prices – up 18% for single-family homes to $354,000; up 16.1% to $252,500 for condos – than a year ago. Single-family home sales rose just 0.2%, but condo sales were up 13.1%. Chief Economist O’Connor: Condo-townhouse market “remains the hotter market for now.”
Energage sends workplace culture surveys to companies on behalf of the Orlando Sentinel, and the state Realtor association was named one of the area’s best places to work.
NFIP’s Risk Rating 2.0 becomes effective on Oct. 1. Register for Florida Realtors webinar (Tue., Sept. 28) to learn the changes and best practices.
Crowdfunding continues to grow as a way to invest in real estate, but the SEC alleges that some investors pocketed money intended for cannabis real estate purchases.
The industry has been fighting mobile-home thinking. With pre-fab, the entire home is built onsite after 50%-80% of individual elements are constructed offsite.
The decline follows two months of increases. NAR’s chief economist says buyer demand remains strong, but higher prices have pushed many to wait for more inventory.
A better-than-expected rebound came largely from the apartment-construction segment that rose 21.6% compared to a 2.8% decline in single-family-home starts.
The Federal Reserve used its tools to tamp down interest rates in order to help a pandemic-harmed economy – but they’re expected to ease that support later this year.
Travelers must be fully vaccinated and have a recent negative COVID-19 test if flying to the U.S., but the change could allow more buyers to physically tour homes.
The Biden administration doesn’t plan to stop FEMA’s “Risk Rating 2.0” from going into effect, leaving Congressional leaders to decide. NAR backs the new structure that charges by individual home rather than flood zone, but it’s facing opposition from other real estate groups.
Realtors raised almost $350K in three hours in support of disaster victims. The virtual event, part of the “Hope Rising” campaign, celebrated RRF’s 20th anniversary.
How much will lumber cost in six months? When builders don’t know how much supplies will cost upon arrival, they grow skittish about quoting prices and gauging demand.
About 850K homeowners may have their mortgages exit forbearance between Aug.-Oct. this year – a potential for tens of thousands more homes on the market.
The index rose one point to 76 this month – any number over 50 is positive – but the labor shortage and cost/availability of raw materials remain challenging.
Realtor.com: The shortfall continues and even increased by 1.4M homes since 2019. New-home construction has hit its slowest pace since 1995 and isn’t much headway.
It depends on where you want to live, at least according to a new report that analyzed the top 100 U.S. metros. But no Fla. metros were in the top 10 overvalued markets.
A summer survey found that over 90% of snowbirds expected to return to Fla. this winter – but sentiments have dipped a bit since the COVID delta variant hit.
Aug. report: Rental prices hit double-digit growth for the first time in two years and grew three times faster than in March 2020, prior to the pandemic. Over half of the 50 largest metros reported rents with double-digit gains over last year, including Tampa, Miami and Orlando.
Realtor.com: About 44% of homeowners say they didn’t realize other costs, such as home inspection, document fees, property taxes, home insurance and title fees.
Survey: The majority of those firms also typically had 3 full-time RE licensees. Nearly 9 out of 10 firms, or 86%, were independent and non-franchised.
Experts predict that many more millennials, who already comprise the majority of the home-buying population, will become homebuyers in the coming years.
Since they can live and work anywhere, they’re heading to mid-tier cities nationwide, leading to a surge in home and rental price in these areas.
Redfin analysis: In Aug., about 59% of offers on homes written by Redfin agents faced competition, a record low for this year and the lowest level since 2020.
Freddie Mac: It’s down from 2.88% last week and close to the 2.87% the 30-year FRM was at this time last year. The 15-year FRM now stands at 2.11%.
COVID-19’s impact on bed-and breakfasts has prompted some to close, with revenues in 2020 down 43.7% from 2019. But some are being purchased to use as personal homes.
CoreLogic: That’s the biggest 12-month gain since the series began 45 years ago. On a month-over-month basis, home prices increased by 1.8% in July from June.
Survey: Second homes account for 5.4M U.S. housing units. Miami ranks in the top 5 most popular big cities for second homes; Miami Beach is No. 1 for small cities.
NAR report: 60% of millennials who aren’t homeowners say student loan debt is delaying their ability to buy a home; 51% of all student loan holders say the same. And 36% of student loan debt holders say student loan debt delayed their decision to move out of a family member’s home.
Between now and Oct. 17, most markets across the country will have more homes for sale, lower prices and less buyer competition, according to Realtor.com data.
Such cities tend to be medium-sized metros, often near college towns. Riverview, Fla. was in the top 10 most competitive cities for homebuyers in July, says Redfin.
ATTOM: About 1.5M to 2M homeowners are already in some kind of forbearance, and the CFPB has now paved the way for proceedings to begin on vacant homes.
Experts say Ida will drive up rates for reinsurance, which is what insurance firms must buy to guarantee they can pay all claims after a disaster. That’s the pipeline that Hurricane Ida’s higher costs will travel to be passed on to Fla. insurance policyholders.
The percentage of built-for-rent land sales is predicted to double or triple in the next few years; in Fla., demand is rising in St. Cloud, Pensacola and Port Charlotte.
Black Knight: As a result of rising home values, the average homeowner could refinance their mortgage and withdraw $173,000, while keeping 20% equity in their home.
Survey: 30% of buyers said they paid more than expected on their home due to competition; of those who paid more, 32% said it was $52K or more over the asking price.
Lending Tree: 88% of 2,500 consumers polled said they’d rather own a home than rent; but 48% of renters fear they’ll never be able to buy.
NAR: Over 50% of real estate clients are interested in sustainability; one-third of agents helped a client buy or sell a property with green features this past year.
The IRS has gotten a record level of phishing complaints about stimulus payment offers sent via enticing and believable fake emails – the hallmark of an effective scam.
Move-up buyers have unique challenges, and more may be landing with iBuyers because they can fairly easily buy one home and sell another home on the same day.
Last month, one in three S. Fla. homes listed for sale on realtor.com was considered small – between 750 and 1,750 square feet – for a 9.1% year-to-year increase.
NAR ranked five Gulf and Atlantic coastal cities in Fla. as strongest in the U.S. based on all commercial market segments and a range of indicators.
Atlanta Fed: The affordability index hit 92.2 – and any number below 100 means housing is generally unaffordable. If interest rates rise, that number will probably go lower.
Foreclosure listings will likely only come from owners in trouble before the pandemic because the amount of equity owners can access has risen 40% year-to-year. Of U.S. homeowners in forbearance, 98% have at least 10% home equity; during the Great Recession it was only 40%.
NAR is still warning Realtors about the dangers of “love letters” that some buyers write to sellers. In some cases, they create a potential fair housing violation.
While ocean-view homes seem most at-risk for rising seas, coastal metros that rely on canals and water management can find that flood waters have no place to go.
Cyber insurance is tricky because it focuses on intangible data. How do you value that and then insure potential risk? But in today’s world, it’s worth considering.
Buyers who close after Oct. 1 and need flood insurance should understand upcoming flood insurance changes. The new rating system is property-specific and not yet published, but 12% of Fla. homes will see at least a $120 yearly increase. Buyers may be able to assume a seller’s policy and rates, however.
The economy appears balanced if mortgage rates are an accurate reflection. This week’s average 30-year, fixed-rate loan rose only slightly from last week’s 2.87%.
As in firms nationwide, real estate companies vary greatly in return-to-the-office policies. A handful mandate vaccines for everyone; others say they never closed.
More consumers are starting to think home price increases have largely topped out – and if they still hope to snag a low interest rate, it’s time to shop for a home.
More consumers are starting to think home price increases have largely topped out – and if they still hope to snag a low interest rate, it’s time to shop for a home.
In Daytona Beach, home prices are up 9.07% since Dec. In Orlando, they’re up 8.15%. Relocating Northerners have increased the pressure on existing residents.
Investors love foreclosures and short sales. The homes usually need work, which is ideal for flippers who fix and sell. They also tend to be less expensive – ideal for large companies that own thousands of homes to rent out. Buyers hoping for more affordable listings may be disappointed.
In eight S. Fla. apartment complexes, the unvaccinated need not apply – or try to renew their lease. But the rule might conflict with Fla.’s vaccine passport ban.
Businesses can’t ignore TikTok’s rapid growth and the popularity of its 60-second videos. For agents, it’s a new way to court potential clients.
Florida Realtors: A new effort will offer homeownership opportunities for frontline workers and take the place of the Housing Funds for Housing ballot campaign.
Frustrated homebuyers remember the last housing crisis and think it’s going to happen again as prices keep going higher and higher – but they’ll likely be disappointed.
A condo owner helped remove debris following 9/11 and needs to leave shoes outside due to a respiratory condition. HUD alleges the condo board turned down his request.
Realtors, through RRF, help restore communities after natural disasters, such as hurricanes and wildfires. RRF celebrates 20 years this Fri. with a special livestream event.
Survey: More people (60%, up from 53%) will to drive farther to work and shopping if it comes with a larger house and more distance from their neighbors.
A study found investors help local buyers by selling property if rents stagnate and home prices rise – but hurt homebuyers if rents are rising and home prices are not.
Florida Realtors and the Florida Bar work together to keep FR/Bar contracts current and useful, and the latest update has just received final approval from both groups. Members will have time to study the changes before it replaces current forms on Nov. 1. The AS IS contract, Residential contract and seven Riders were updated, and…
NAR’s awards highlight Realtors across the U.S. who have dedicated their time, money and passion to helping others – and one 2021 finalist hails from Fla.
Of that money, almost $1.5M goes to four groups under HUD’s Private Enforcement Initiative to investigate and litigate complaints filed under the Fair Housing Act.
38% of homeowner households and 66% of renter households have difficulty paying for usual household expenses, including food, according to NAR’s study. “Housing affordability and food sufficiency are inseparable to families’ balance sheets,” says NAR VP Jessica Lautz.
Buyers who put less than 20% down often need private-mortgage insurance – but with a 20% year-to-year uptick in home values, many owners may be able to cancel it now.
The pictures and virtual tours aren’t all that great in many listings – but that’s a benefit for those agents who take extra time to make sure their listing visuals “pop.”
The newly named company says it will focus on older housing stock and use AI-powered analytics to help real estate investors make decisions.
Realtor.com got 18K more new listings in Aug. 2021 than it did in Aug. 2020 – and more were affordable, entry-level homes. Realtor.com’s economist says it’s still a seller’s market, but a well-priced home might get 3 bids now compared to the 10 it would have received in 2020.
NAR President Oppler says Realtors have “long advocated for many of the policies,” though the promise of 100K homes “is just a small fraction” of the 6 million needed.
Rates continue to average less than 3% as signs show the economy – at least so far – appears to be outpacing the delta variant of COVID.
In many areas, homeownership not only offers long-term wealth but also immediate cost benefits. For some FHA 3.5%-down buyers, monthly payments actually go down.
Stay current with creditors tracked by credit score firms, but also do some homework: Understand credit scores and how they impact your life.
U.S. financial markets keep some New Yorkers in New York, and developers think a southern hub might give fence-sitting investors another reason to relocate.
Americans felt less confident in Aug. When the pandemic resurged, the confidence index fell to its lowest level since Feb – but it’s too soon to draw long-term conclusions.
Desperation helps scammers. A strong need for affordable housing entices victims to lower their defenses, and some will send money to landlords they’ve never met.
In July 2020, 2,216 Redfin users moved to Miami; in July 2021, the number grew to 7,610. Some moved because they could work from home, some to escape lockdowns.
After more than a year of staying at home, many owners forget basic safety precautions before they go out. One study found that 1 in 4 forgot to lock a door.
A thousand things need doing after a hurricane or other natural disaster, but it’s hard to remember all of them. Deal with immediate needs first, then financial issues.
A cross section of federal agencies tinkered with policies in an effort to boost affordable housing and the middle class, according to the White House. For example, homesteading buyers will have more exclusive time (30 days) to buy foreclosed homes under FHFA.
Insurers play a big role in financial markets, so if the number and intensity of natural disasters increases, could financial woes follow? A new study hopes to find out.
Many times, buyers or sellers want to add specific language to their contracts that adds terms or changes the pre-printed language. While this may be doable sometimes, agents should use caution depending on the context of the changes.
A buyer insists on seeing the Seller’s Property Disclosure. Equally adamant, the seller refuses to fill one out. What happens next? The buyer’s Realtor calls Florida Realtors Legal Hotline to find out what they can – and cannot – demand.
In today’s hot market, buyers want to make their offer more appealing, and some consider the addition of “appraisal gap” language. But that can create unexpected problems – and it’s not one of the core elements included in Florida Realtors’ contracts.
Americans felt less confident in Aug. When the pandemic resurged, the confidence index fell to its lowest level since Feb – but it’s too soon to draw long-term conclusions.
I thought MLS offers of compensation were unilateral and unconditional, but I’m seeing more conditions, such as full compensation only for full-price offers submitted within a set number of days. What does “unconditional” mean?
The technology to visit, bid and close on homes existed pre-pandemic, and iBuyers now rely on it for more acquisitions – but it’s unclear how successful they’ll be.
While housing price gains may be starting to slow, Case-Shiller’s June report found a year-to-year increase of almost 20%. One Case-Shiller analyst called the past few months “extraordinary not only in the level of price gains but in the consistency of gains across the country.”
Americans felt less confident in Aug. when the pandemic resurged, and the confidence index fell to its lowest level since Feb. But it’s too soon to draw conclusions.
The Board of Directors met on the last day of the convention and confirmed Florida Realtors’ 2022 officers. Christina Pappas is 2022 president and Mike McGraw president-elect, with Gia Arvin confirmed as vice president, Tim Weisheyer as treasurer and Chuck Bonfiglio Jr. as secretary.
UF: The Aug. index gauging Floridians’ attitudes fell 4.7 points, thanks in part to COVID-19. Still, it’s less than half the 10.9-point drop in a similar national study.
Neat Loans says COVID-19 created a new health risk for borrowers, and the credit is one way to lessen the chance that one of its loans will go into foreclosure.
Larger condo units pay higher dues each month, but the board’s records show that one unit is bigger than it really is. How can the unit owner correct it?
HUD, the Treasury and the U.S. Attorney General sent a letter to local and state governments, asking them to work with the courts and even consider a local eviction ban.
Many millennials saved a partial down payment and could visualize being a homeowner until rising rents and surging home prices kicked the ball farther away.
Many renters didn’t take eviction seriously in the shadow of eviction-ban extensions. Some experts now expect a deluge, while others think it will be more of a trickle.
Information should be hyper-local. Post about an upcoming event and include details. If attending, take video and post it – or spotlight local businesses.
Year-to-year contract signings declined 8.5%. NAR Chief Economist Lawrence Yun says the market may be cooling a bit, but there’s still not enough supply to match demand – yet “inventory is slowly increasing” and buyers should “see more options in the coming months.”
The overheated market may be slowly cooling. Even if July numbers just reflect the usual summer slowdown, it could mean traditional patterns are starting to return.
Neat Loans says COVID-19 created a new health risk for borrowers, and the credit is one way to lessen the chance that one of its loans will go into foreclosure.
Buyers stressed by bidding wars and limited listings are often worn thin, and unprepared to handle the roster of “normal” things that can threaten to upend a transaction.
The all-time high cost of $1,700 for a thousand board feet has dropped to $500, but steel products are up 10.8% and gypsum (for drywall) is up almost 16% this year.
An investigation found lenders still strongly favor white borrowers, but it raised a new question: What if a lender isn’t biased but its data, notably credit scores, is?
In late June, the U.S. Supreme Court ruled that the CDC overstepped its authority in issuing an eviction moratorium, and it reiterated that opinion yesterday, ending the current ban. Justices didn’t disagree with the ban’s intent but said Congress “failed to act in the several weeks leading up to the moratorium’s expiration.”
Barry Grooms, 2020 president, is the 2021 Realtor of the Year. All award winners were recognized Thurs. at the annual convention’s in-person Awards Luncheon.
Two months after the Champlain Towers tragedy, a Boca Raton created new rules, with first inspections now due after 30 years. About 242 buildings are impacted.
During listing conversations, providing good answers may be more important than leading the conversation. Be present, engaged and eager to understand what seller’s want.
The market has been unpredictable, and the delta variant is only one of RE’s wild cards. Still, most experts don’t expect sales to slow much as summer turns into fall.
Mortgage rates have changed little in the past few weeks – not enough to signal any kind of alarming trend. Last week, the 30-year FRM averages 2.86%
Some private companies and even iBuyers have programs that allow buyers who need a mortgage to present offers that appear to be all-cash, a category that many analysts largely assume belongs to investors, second-home buyers and some retirees.
On top of supply-line problems and worker shortages, developers say local governments’ construction fees make it almost impossible to build affordable housing.
2 out of 3 consumers – and 3 out of 4 millennials – would consider the cost savings of a printed home. But 33% want to wait a bit and see how 3D homes change over time.
Also: A group of residents created a community social media page using the name and logo, but this unofficial site can have questionable content. Can anything be done?
Their children have a place to live that beats a dorm, but most parents see it as an investment – and a way to lower the total cost of a higher education.
Central Fla.’s The Villages is the nation’s fastest growing metro, and a possible look at the nation’s future if more relocating Southern retirees wield their influence.
The $46.5B program to help tenants pay back rent to their landlords is struggling, so the U.S. Treasury said Wed. that it eased application requirements to speed up the process. For example, it will now allow tenants to “self-assess their income and risk of becoming homeless.”
Thanks to new technology, Fannie Mae lenders can check prospective borrowers’ bank statements (with permission) to verify rent-payment history starting Sept. 18. Freddie Mac plans to follow suit soon. Advocates say rent history is a better gauge of reliability than FICO scores.
A Broward task force will likely ask the state to boost inspections and change funding of reserves. But any new rules will face regulatory and political hurdles.
After a string of declines, new-home sales reversed direction in July, albeit only a little bit. Median new-home prices rose to $390K – 18.4% higher year-to-year.
How do you grab attention on social media – enough to entice viewers to stop and read your content? There are apps for that.
State Realtor associations told judges the ban exceeds the CDC’s authority. The CDC said the delta variant makes this moratorium even more important than the last one.
A New York apartment offering a 10-minute commute to work is now $74K less expensive than it was in 2019. But in some smaller cities, it’s more expensive.
The decision overturns an earlier ruling that backed waterfront property owners. The issue focused on dry-sand parts of the beach, “customary use” rules and a 2018 law.
United Wholesale Mortgage plans to accept cryptocurrency before the end of this year, saying it wants to be the first lender in the U.S. to do so.
A “fresh start” pushes many singles to upend their life and seek a new one. Still, almost half of relocating love-losers pick a destination for its job opportunities.
Prices rose 17.8%, and in a positive sign, the for-sale inventory rose 7.3%. Economist Yun says there’s a chance prices “will level off as inventory continues to improve.”
Moving “brokers” may entice relocators with low-ball estimates and promise to “handle all the details,” then subcontract the actual move to dicey third-party vendors.
Florida Realtors’ data: Median prices for single-family existing homes rose 20.3% year-over-year to $355,000; up 20.5% to $253,000 for condos/townhomes. Chief Economist O’Connor says July data shows signs Fla.’s housing market is heading on a steady path toward normalcy.
Sharing knowledge about an area helps agents develop rapport and credibility with consumers. It’s a good idea to show landmarks, amenities and other community aspects.
The chair says the U.S. economy has been permanently changed by the pandemic, and the central bank must understand and adapt to those changes before making decisions.
Realtor.com: Outer suburbs saw the highest price growth in the past year, but “the jury is still out” if that continues once workers return to their offices.
Realtor associations lost their appeal to halt the eviction ban extended to Oct. 3, which makes it likely that they’ll now ask the Supreme Court to consider their case.
In parts of Southwest Fla., vacant residential lots are commanding record-high prices. With a shortage of homes for sale, more buyers are choosing to purchase land so they can build what they want, resulting in some eye-popping listing and sales prices.
A developer usually has the right to annex additional land to its community, with few limitations under governing docs – but check documents closely anyway.
Many smaller landlords are losing sleep, doing their own repairs, and some are even selling property, which could further dent the U.S.’s supply of affordable housing.
NAR’s Clear Cooperation policy placed limits on pocket listings, leading a members-only “top agents” network for non-MLS listings to file a lawsuit. The ruling questioned some aspects of Clear Cooperation, but the judge said antitrust does not give TAN a right to “hoard listings among themselves.”
It should be challenging for iBuyers in a seller’s market, but they’re paying more. It could be a business strategy: Accept lower profits to assure long-term success.
Without more homes listed for sale, mortgage money demand has evened out, leading to little week-to-week change. Last week, the 30-year FRM averaged 2.87%.
Red flags could include a customer’s unrealistic expectations, time-consuming and excessive demands, disrespect or even lack of proper communication.
Lumber costs – down 30% in July but 72% higher than in Jan. – suggest prices are going down. But they aren’t. Year-to-year steel costs are up 109% and gypsum is up 16%.
When is the lowest-cost insurer not the lowest-cost insurer? When another company actually charges less because you bundled or installed security or did something else.
The proposed goals expand the number of Fannie and Freddie loans that would go to low- and moderate-income families, minorities, rural areas and underserved populations.
Buyer competition has shown some signs of easing, however two Fla. metro areas – Tampa and Orlando – remain two of the top 15 U.S. metros for bidding wars.
Strong housing demand will keep pushing builders to build, and the number of new permits issued – a sign of future activity – rose 2.6%. But high material costs, fewer workers and land limitations hold back growth. July home starts rose only in the South, the area that includes Fla.
Members of House and Senate antitrust subcommittees asked the Federal Trade Commission to see if Zillow’s acquisition of ShowingTime could violate U.S. antitrust laws.
The Low Income Housing Coalition created ERASE to help “the most marginalized renters” apply for federal rental-reimbursement funds. So far, state and local agencies haven’t disbursed much of the total $47B authorized by Congress under two pandemic-relief bills.
The real estate ad site says it built “Realtor.com for Everyone” to provide fair housing information and “demonstrate our commitment … to housing equality.”
Homebuilder confidence hit its lowest level since July 2020. While labor shortages and supply challenges played a role, buyer “sticker shock” is the new concern.
Some worry that it waters down approvals and could lead to a future foreclosure crisis. Others say it will help the 17% of buyers who were already just shy of approval.
Home Depot’s sales are still up, but not as “up” as they were only a few months ago. One expert says lots of homeowners remodeled during lockdowns – but not as many now.
Life changes spark home sales, and divorces are a big one. Of 1.2M yearly divorces, 61% involve the sale of a home. Finding these couples can be a bit tricky, though.
Nationally, 43% of U.S. residents are people of color (up from 2010’s 34%) and 57% are white (down from 63%.) In Fla., Hispanics make up over 50% of the population in three counties, and between 25% and 49.9% in an additional 10 counties, all between Lake County and Miami-Dade.
Restrictions are returning to condos – largely mandatory masks in common areas – as COVID-19 cases rise. And in condo complexes, residents agreed to follow the rules.
The pandemic changed the way America operates and, as a result, the way commercial real estate functions. The industry seems to be thriving now – but with caveats.
Realtor assoc. lawyers appealed a judge’s ruling to maintain the eviction ban, and the process could wrap up this week. If necessary, a Supreme Court appeal could follow.
Google Analytics can help real estate pros and other small business owners answer perhaps their most important question: How am I doing?
People can’t follow rules they don’t know about, and speed limit signs are a relatively painless first step – but some communities do even more to cut down on speeding.
Start small? If you buy one rental as an investment, you lose 100% of your income if it’s not occupied. And good real estate shouldn’t be sold, it should be refinanced.
A judge that ruled against an earlier eviction ban version said an appellate ruling keeps her from doing so this time. An appeal is likely, possibly to the Supreme Court.
HUD and FHFA (Fannie Mae, Freddie Mac) signed a memorandum of understanding (MOU) to work together. The change allows HUD to more aggressively check for Fair Housing Act violations by giving it easier access to deals funded with conventional mortgage loans.
In some areas, landlords faced with multiple rental applications are seeing some offer more rent or a higher deposit in hopes of upping the chance they’ll get the unit.
Remodeling hit a high during lockdowns when homeowners had time and an increased frustration with their living space. Now, rising home equity entices them.
Many buyers and renters consider a new home with “Will my pets be happy here?” playing in their head – and are willing to compromise their wants for a “yes” answer.
A 30-year, fixed-rate mortgage averaged 2.87% this week, up from 2.77%. Pandemic fears that pushed rates down were boosted by positive employment numbers this week.
Year-to-year, the median sale price of an existing U.S. home rose 22.9% in the second quarter – to $357,900. Prices were up in 99% of markets and up double-digits in 94%.
Florida Realtors’ data: Sales, new listings and median prices are up (24.3% for single-family homes, 20.8% for condos) from a year ago. Chief Economist O’Connor: Mortgage rates, while low, are no longer falling, which will gradually reduce competition until price growth falls back to a more normal pace.
D.R. Horton CEO Auld calls it “foreign to us,” but his company is turning away qualified buyers due to construction supply shortages and a thin labor force.
Gulfstream Property & Casualty Insurance went into liquidation on July 28, saddling the state with an estimated $60-$65 million in unpaid claims and premium refunds.
The 14.4M Americans suffering from identity theft usually discover it happened when they apply for credit, including first-time buyers trying to secure a mortgage.
FEMA’s three “funding opportunities” give money to state and local governments that apply. The “pre-disaster funding” generally goes to disaster mitigation efforts.
Some frustrated and discouraged buyers dropped out of the market, but many may jump back in as inventory grows, properties linger on the market and bidding wars ease.
Inflation in airline fares, car production and lumber prices should flatten soon. Inflation’s highest long-term risk comes from escalating home prices and rental rates.
Renters with thin credit histories may still qualify for a home loan under a Fannie Mae program that allows lenders to consider consistent, on-time rental payments when making lending decisions. Neither buyers nor lenders pay extra to use the new tool.
At the Fla. Real Estate Commission’s July 22 meeting, commissioners discussed some possible changes to 61J-10.025 and plan to follow-up at a meeting on Sept. 22.
What updates will make buyers swoon and perhaps offer more money? What updates waste money because buyers don’t really care? Sellers view Realtors as the experts.
You can’t put a price on personal safety – but if you could, it would be free for Florida Realtors’ members. SafeShowings, a phone app and member benefit, discourages problems because it logs client photos and automatically calls for help if you don’t respond within 45 minutes.
These markets aren’t new, but there’s increased demand and a change in buyer preferences. As a result, investor competition for space is “fierce and getting fiercer.”
The judge who first ruled against CDC eviction bans said the latest order is “almost identical” to earlier bans ruled unconstitutional by the U.S. Supreme Court.
3D builders see Fla. as a prime market, and a home is currently under construction in Tallahassee. But the state’s building code doesn’t include 3D techniques yet.
CoreLogic: Where did pandemic-burdened Americans move? Many to Fla. The data firm found 7 Fla. metros at the top – 3 on the Atlantic, 3 on the Gulf and 1 in the middle.
Realtors, their families and association employees can use the discount for themselves or their clients through NAR’s newest partner, 1-800-GOT-JUNK?
There’s a lot of anger and confusion over the latest eviction ban. Judges don’t know whether the latest moratorium from the CDC is legal while it faces challenges in federal court. Until there’s a ruling, each judge will apply his or her own reasoning when deciding eviction cases.
The mortgage giant says “CHOICEReno eXPress” helps buyers and owners reduce costs compared to using credit cards or unsecured financing for small-scale projects.
Seattle-based Redfin has made vaccines mandatory for all personnel as it reopens offices, though non-vaccinated workers will continue to have a work-from-home option.
Historically, first-time buyers got a 1,400-square foot starter home and traded up later. But builders offered 418K of those yearly in the 1970s – only 55K in the 2010s.
Two Fla. agencies will receive almost $2M. The program helps older residents make functional home modifications that enable them to stay in the home as they age.
Moody’s Analytics REIS: The national average effective rent, a key industry measure, rose 0.6% in 2Q 2021, lifting the average U.S. effective rent to $1,394.79.
After a year of the pandemic, 81% of adults say they’re okay buying things – even expensive things – online, especially with extra authentication and verification steps.
What threat do heat, flood, drought and fire pose to a house as the earth warms? Redfin says it’s adding ClimateCheck, scaled 1-100, to each listing on its website.
The pandemic’s border closures and lockdowns dinged the international buyer market over the past year, but signs point to a resurgence among new buyers and those who postponed a purchase. Economists say today’s buyers should expect to face even more competition.
NOAA: 7-10 hurricanes will still form out of 15-21 named storms (includes tropical storms). If true, 2021 will be a record sixth straight year of above-normal activity.
Some parents home-schooled their kids even before the pandemic. But after the recent lockdowns, more buyers with kids see it as a golden amenity.
Think of Google My Business as your resume. You provide info to Google – emphasizing unique elements – and Google shows your business to more web surfers.
If a home floods, the owner needs flood insurance. But other post-disaster options can also provide help, via grants or low-cost loans earmarked for repairs.
It depends, but you don’t need to be ‘rich’ to invest in real estate. You just need to be smart with your money and willing to invest it in an appreciating asset.
The Supreme Court agreed the original eviction ban was unconstitutional in a suit filed by two Realtor associations. On Wed., they asked a District Court to rule against the latest ban, even as a push is on to get more money to landlords. In Fla., only 2% of $870M the state received so far has…
The average 30-year mortgage rate fell to 2.77% this week, down from last week’s 2.80%, in part due to investor uncertainty over the COVID-19 delta variant.
Listing agents prioritize descriptions that appeal to the most sellers, and a new analysis found bathrooms (privacy), garages and big closets (space) top today’s lists.
A $2K home repair in 2019 might cost $4K today, as homeowners struggle to find money-saving alternatives. Supply prices should eventually go down – but not right away.
$10 billion worth of federal aid can be used by homeowners with all types of mortgages, including mobile home loans and even seniors with reverse mortgages.
At least one large brokerage has joined other big groups, such as Disney and the federal government, in making COVID vaccines a requirement for employment.
The 2021 Technology Survey listed drones (37%) and cybersecurity (34%) as top trends, with 5G connections (31%) and virtual reality (30%) close behind. Top current tech tools include eSignature (78%), MLS apps (54%), social media (53%), lockboxes (48%) and video conferencing (39%).
Fla. doesn’t have a boilerplate construction contract, and HOAs can assume that a contract written by the outside contractor likely favors the firm over the HOA.
The Biden Administration announced a 60-day eviction ban extension. The new order is more limited than the old ban – it covers COVID hot spots only – but that still includes an estimated 90% of U.S. renters and seemingly all of Fla., which has seen rising numbers of cases in the past few weeks.
In 2Q 2021, home sellers’ average profit was up over the previous two quarters, but the profit margin (return on investment compared to original purchase) dropped a bit.
The eviction ban ended last weekend, but S. Fla. courts saw less movement on Monday than they expected. Lawyers think some landlords might be holding off to make sure there isn’t another extension, and federal stimulus payments and rent aid have helped some at-risk families.
Overall, the iBuyer segment has returned to its pre-pandemic levels. However, the instant home-sale numbers are still less than 2% even in Fla.’s biggest iBuyer markets.
Security cameras are cheap, easy to install and almost everywhere. The top reason sellers monitor home shoppers? To find out what they don’t like about their house.
Some Americans did well during the pandemic, boosting demand for luxury housing – a segment that doesn’t face the same supply shortages as lower-priced homes.
A new, fast-moving variant jolted the steady pandemic recovery, leading some business leaders to rethink their timelines for workers’ return to the office.
Most experts agree that there’s a “foreclosure threat,” but it’s uncharted territory – any uptick in foreclosure listings is hard to predict. With prices rising, lenders are under less pressure to list homes for sale. And even if they’re ready now, homes likely won’t be listed until at least Sept.
Few ideal homes, rising prices and lost bidding wars add up. Buyers aren’t going away, but many are deciding to hold off purchasing for maybe six months or a year.
While sellers’ ultimate goal might be presenting a home that looks like new, a study found that even small improvements can translate into higher resale values.
Insurance reform president say insurers aren’t worried about old roofs leaking – they think they’re most likely to be targeted by shady contractors drumming up business.
Departments under the Biden Administration are using their tools to postpone some evictions. USDA, HUD, VA and FHFA extended their eviction deadlines to Sept. 30.
It appears the pandemic is over, at least for commercial real estate. But the rebound isn’t even, with city-to-city and commercial segment-to-segment differences.
The Supreme Court had signaled the ban would only be extended to July 31. With the ongoing spread of the COVID-19 delta variant, Biden is asking Congress to extend the fed eviction ban, but the prospects of legislative action are unclear.
NAR is ready to oppose any “unreasonable effort by Congress to extend the (eviction) ban without assistance for small housing providers,” says Chief Advocacy Officer McGahn.
Realtor.com: Prices and demand for homes in the suburbs continue to rise; homes sold below asking price tend to be in larger cities or suburbs just outside city limits.
With in-person work on the rise, employees may return to reconfigured office layouts meant to encourage social distancing and sanitization, plus other safety features.
Perspective matters. How does the collection of laws and rules related to multiple offers look to a buyer’s representative? How does that collection look to a seller’s representative?
The ban’s end allows tenants to once again be evicted. However, rules must be followed to legally complete the task. For example, a property manager must have written permission from the landlord to do so.
An associate filed an ethics complaint and feels certain she did so within 180 days. However, over a year has passed since filing, and the hearing is just now coming up. Something must be wrong – right?
Part 1 of a 3-part series: Buyer’s offers. In today’s competitive market, buyers scramble to make their offer the most appealing one in the seller’s pile. But sometimes they may agree to concessions that do them more harm than good.
Small businesses that borrowed $150K or less can soon apply for loan forgiveness directly through the Small Business Administration rather than their lender.
While pools are unique in many U.S. areas, they’re more common in Fla. In some South Fla. metros, 3 out of 4 homes offer a swimming pool in the backyard.
While average mortgage rates have generally declined over the past few weeks, the 30-year, fixed-rate mortgage rose from last week’s 2.78% to 2.80%.
Boating’s appeal skyrocketed during pandemic-era social distancing, and the water-lovers who pushed boat sales 12% higher now need a place to park it.
The Federal Reserve didn’t change interest rates, largely downplayed inflation fears, and said each successive wave of pandemic resurgence has had less economic impact.
The number of homes that went under contract “has seesawed since Jan.,” says NAR Chief Economist Lawrence Yun, but higher home prices have taken a toll. In areas where housing is more affordable, local pending sales rose because buyer demand remains strong.
While OurFlorida.com is the state’s go-to website for past-due rental assistance, some local programs also offer help, and CFPB compiled that info on a single webpage.
U.S. consumers remain optimistic: July’s confidence index is about the same as June’s, after gains in each of the prior 5 months – and the highest since Feb. 2020.
NAR and the Good Neighbor Society named the five volunteers who will receive seed money and mentoring – a list that includes Realtors from Seminole and Jacksonville.
It isn’t hard to find buyers right now, but sellers need you to fill out contracts, negotiate multiple-bid offers and screen buyers to verify that they’re qualified.
Single-family investing is a profitable niche. Big companies continue to expand their inventory, but it’s unclear how much they can grow before there’s a public backlash.
A common misconception: 1031 exchanges are a tax loophole. A study on 1.6 million properties concluded that 80% of 1031s were ultimately sold via a taxable sale rather than a subsequent exchange. And a 1031 repeal would shrink U.S. GDP by $9.3M.
The ban ends July 31, and over 1.5M homeowners remain delinquent on their mortgage. But the Consumer Financial Protection Bureau offers info about possible relief options.
While it may be a random event, the owner owes a “duty of care” – he’s supposed to make sure there are no dangerous conditions that could injure someone on his property.
Median home size is about 2,260 square feet, while the median lot size is 8,700 square feet, down 18% from 2010. Jacksonville is No. 2 for large yards in a big U.S. city.
NAR: It’s the lowest level in a decade. Foreign buyers purchased 107K properties, down 31% from the prior year, as the COVID-19 pandemic led to a strong global economic slowdown. For the 13th straight year, Fla. remained the top destination for foreign buyers, with 21% of all international purchases.
Two of the 20 Realtors chosen for the 10-month program that begins in Jan. 2022 are from Florida: Carlos Alleyne, Boca Raton, and Ines Hegedus-Garcia, Miami Shores.
Lumber prices had been cooling in recent weeks. However, lumber producers warn price hikes likely are on the horizon if the Western wildfires aren’t contained.
Private fair housing groups may request money and use it to blind test housing groups, respond to complaints or propose new projects related to COVID-19 challenges.
NAR says it faces “steep resistance” but will keep advocating for a Realtor exemption to proposals: “Congress must recognize real estate’s unique place in the economy.”
ShowingTime: Those 5 days are “hyperactive with double-digit showings and offers submitted quickly”– 64 markets averaged double-digit showings per listing during June.
Cloudstar, a cloud service used by many title companies, shut down after a ransomware attack last week. As a result, some brokers now can’t register transactions or closings. “We are still very much in the containment and remediation phase,” the company says.
The pandemic changed things: Home values for properties with long commute times are rising faster than units in or near metro areas.
Nationally, cash buyers made up about 1/3 of all 2021 home sales so far, but that percentage rises to 52.6% in West Palm Beach – the top metro for cash sales in the U.S.
Pandemic numbers are rising again. That’s shaken investors and pushed 30-year mortgage rates lower again this week, though adjustable rates moved a little higher.
Year-to-year home prices rose 23.4%, the second-highest on record. However, a 3.3% inventory uptick may start to slow price increases and give homebuyers more hope.
Florida Realtors’ data: More closed sales, more new listings and higher median prices (up 24.5% for single-family homes, 22.4% for condos) than a year ago. Chief Economist O’Connor: The ratio of buyers to sellers may be easing; as a result, home price growth could begin to cool down in the future.
Another major Fla. newspaper backed the goal of Florida Realtors’ amendment petition drive to keep “Housing Funds for Housing.” Editors said it’s “nonsensical” to remove “hundreds of millions in designated housing money during an unprecedented affordable housing crisis.”
In light of the building disaster in Surfside, a Fla. Bar-affiliated group is analyzing the possible need to change state standards regarding engineer inspections.
In a likely boost for Fla. tourism and real estate, the Canadian government will ease border rules in Aug. Fla. Policy and Budget official expects “a big jump in people.”
Not only “smart buildings” face danger since most systems – HVAC, security access, etc. – now connect to the internet. In one case, a parking system sent a bomb threat.
On July 22, 2021, Florida Realtors released a new addendum for use with Florida Realtors contracts, the Escalation Addendum to Contract, available through Form Simplicity and other licensed vendors. FAQs and how-to-complete info is available on the association’s website.
Mortgage bankers say that many homeowners are coming out of forbearance, with only 7.4%, so far, either selling the home, doing a refi or otherwise paying off the mortgage. 1 in 4 (23.2%) never stopped making monthly payments; another 1 in 4 (28%) ended up having their loans deferred.
“It’s too expensive” seems obvious as a reason to skip flood ins., but a study found owners often think they don’t need it – that the government steps in after a disaster.
In May, the year-to-year median home price was up almost 24%. The inventory shortage played a role, says NAR’s Yun, but affordability is squeezing some buyers out too.
An injunction stopped part of a Fla. law intended to reduce the number of insurance roofing claims, and two more roofing companies have joined the legal fight.
It’s a positive turn during a year with wild construction swings. The biggest jump came in the West (up 12.6%) and South (up 9.7%), which includes Fla.
Pasco County’s tax collector doesn’t know the source of misinformation, but people are paying homes’ back taxes and telling legal owners they no longer own the house.
Realtor.com rental listing costs were up 8.1% year-to-year in June, and two Fla. metros ranked in the top 10 for increases: Tampa-St. Pete, up 21.2% and Jacksonville, up 14.4%. Overall, two-bedroom units saw the largest increase, 10.2%, as demand for a larger living space continues.
In S. Fla., two Calif. men pleaded guilty for their role in a $1.3 billion real estate fraud scheme that stole money from thousands of investors across the U.S.
The stock market plunged as biz leaders worried about the Delta variant and any possible impact on closures, federal bans and even a renewed hesitancy among home sellers.
Seller’s agents have an opportunity to debut a listing in a way that increases the chance they’ll also find a buyer, but it takes more than just adding it to the MLS.
Buyer demand remains strong, but builders can’t deliver homes until supply-side challenges subside, pushing NAHB’s builder attitude index one point lower this month.
In 2020, FHFA made homeowners pay an extra fee if they refinance, but that fee will go away after Aug. 1 – part of a new focus to help owners keep their property.
A survey of Redfin agents found a slow but steady drop in the percentage of listings engaged in a bidding war. In April, 74.1% of sellers entertained multiple bids; in May it dropped to 72.1%; and in June, it fell to 65%. But Sarasota tops the list of U.S. bidding-war cities at 87%.
An “HECM for Purchase Loan” allows adults age 62+ to buy with a larger-than-usual down payment, often with transferred equity, and skip future home payments.
Americans need homes – what can be done? NAR, HUD and others say it took over a decade of underbuilding to get here, and fixing it requires a major national commitment.
Over two days of Congressional testimony, Fed Chair Powell held to his belief that inflation is a temporary concern: Over time, it will fade and perhaps even reverse.
A good home description makes the property appeal to a range of buyers, but luxury homes often have a defining style. If so, focus on that home’s uniqueness.
Housing providers and tenants financially impacted by the pandemic need to look into the OUR Florida program for potential relief.
Sometimes a homeowner who generally wants to sell can be offered a reason to do so now. Other times, it helps to contact people likely to sell, such as divorcing couples.
The Fla.-owned insurer had its 10% cap raised under a law passed earlier this year, and its board of governors voted Wed. to increase a Feb. 2022 increase by 2.3%.
Florida Realtors chief economist: More homes are being listed than you think. Despite record-low inventory levels, the reason for current buyer frustrations isn’t so much “not enough sellers listing homes,” as it is strong buyer demand – so strong that listings don’t stay active very long.
The homeownership rate for Black and Latino families lags white households, but Fla. ranks third nationwide for its efforts and a homeownership rate for both at 68.1%.
Most listing descriptions once started with things like “granite countertops” and “wood floors” – but words like “large” and “spacious” became common this past year.
What happens to credit scores after you get married? They don’t merge, but joint purchases, such as a house, can help or harm one spouse. After a divorce? That’s tricky.
More homeowners have started paying their mortgage: Only 4.9% were behind in April 2021. Early-stage delinquencies dropped to 1%, but serious delinquencies rose to 3.3%.
It’s too soon to call it a trend, but the pandemic-driven push for vacation homes appears to be slowing as an increasing number of buyers search for year-round homes.
A law passed this year attempts to ease Fla.’s rising property insurance premiums by limiting roofing companies’ abilities to help homeowners get a “free” insurance-paid roof replacement. But a judge issued an injunction and said the Constitution protects roofers’ free speech rights.
Florida Realtors economist: In today’s market, prepare buyers to consider paying at least asking price – over half of successful Fla. transactions do. But it’s not a simple question, and the pressure varies by property type and asking price.
To help residents apply for federal past-due rent money, Seminole County opened a computer lab. It offers needed tech equipment and helps with applications.
Pre-pandemic, home values increased if close to public transit; but as many people escaped cities, home values rose more in car-dependent communities.
Saturday Night Live did a sketch on about non-homebuyers who habitually checking online listings. What’s their attraction to so-called “Zillow porn”?
They’re back: Individuals are launching subscription-based newsletters to share their expertise and some companies are substituting them for websites or social media.
Also: A new condo treasurer says that they use paper checks for all expenses, even small ones. Is it OK to get an association debit card to minimize paperwork?
A new law bans roofers from soliciting business, an alleged reason for rising insurance costs. But a roofer claims that it violates constitutional free speech rights.
It’s the first statewide ban for letters written by buyers as a tool to coerce sellers into accepting their offer. The problem: It’s easy to violate fair housing laws.
Some foreclosures were postponed due the pandemic, but for some homeowners, COVID-19 forced them into foreclosure. In either case, a courthouse backlog is likely starting Aug. 1, though most at-risk homes will be listed for sale before any foreclosure can be finalized.
As Fla. mourns the Surfside disaster, state and local lawmakers are asking, “What can we do to prevent other tragedies?” A lot of talk involves stricter inspection rules.
Virtual tours may be less popular with high buyer demand, but it’s still a strong sales tool. Too many “virtual tours,” however, are just photo slide shows.
It’s complicated. A condo dweller could be covered by three separate types of policies. Who pays – and how much – may take time to sort out.
Multifamily Council: If a hurricane threatens Fla., property managers have extra steps to take, including a focus on resident safety before and after the storm hits.
A new app allows homeowners with pools to rent them out by the hour – mostly in the $15 to $60 range – and help offset the cost of pool maintenance.
Since 2017, many people moved to warmer climates. While Las Vegas ranked No. 1, Jacksonville, Tampa and Orlando made up half of the top six destinations.
A single S. Fla. mother lost half of her $63K down payment to wire fraud criminals and thought she lost her dream house – one that she worked multiple jobs for many years to afford. But after a TV news story, RE industry pros and strangers stepped in to help.
Fla.’s condo residents and buyers have new concerns in light of the Surfside disaster. Engineers hired by Surfside recommend 3 tests that can assure stability.
Survey: 8 out of 10 consumers (77%) say it’s a good time to sell a home. Buyers, however, aren’t quite as pumped: 2 out of 3 (64%) say it’s a bad time to buy a home.
The average 30-year, fixed-rate mortgage dropped to 2.9% from last week’s 2.98% in Freddie Mac’s weekly survey. The 15-year loan and ARM rates also declined.
Mortgage bankers say most (77%) homeowners in forbearance already have a payment plan in place – and many who don’t will likely sell rather than go through foreclosure. For most sellers, high home prices will allow them to pay off the mortgage and not even ding their credit scores.
Only 30% of sellers are OK with a VA or FHA loan because buyers can’t easily forego things like inspections to compete – plus the home appraisals often come in low.
Florida Realtors economist: Need to find an untapped source for new clients? Look past your own turf to the largest source of movers coming from a different county or state. If 10% of your new residents come from Any County, N.Y., spend some marketing dollars in Any County.
An “every penny counts” approach by buyers boosted ARMs 12.5% year-to-year, even though average ARM rates (2.54%) are only a bit lower than FRM rates (2.98%).
The line between “a condo owner’s obligation to fix” and “the association must fix” isn’t always clear, especially if a number of people contributed to the problem.
The city put a QR Code on the front of every vacant house. Realtors, neighbors and curious onlookers can quickly find out who owns the property via their cellphone.
Owners dazzled by their home’s equity sometimes keep more than they should in a cash-out refinance – but that can lead to foreclosure if home prices drop even a bit.
The groundwork for today’s inventory shortage was created during the 2008-2009 Great Recession. The pandemic merely made existing problems worse.
Borrow money to fix up a home prior to sale? Sellers planning to buy again could hurt their credit score – but the impact isn’t huge and it takes a few months to show up.
Few online advertiser provide access to more people than Facebook, and they offer a range of ad types. The simplest: Post something on your page and pay to “boost” it.
3 Fed banks looked at home refis in the first 9 months of 2020. They found that 6% of Black borrowers switched to a lower rate compared to 12% of white borrowers.
Also: Can a treasurer, on her own, give cash gifts to outgoing board members? And does a law require owner notification before sending assessment issues to an attorney?
$250K homes are out there, but finding one largely depends on where a buyer chooses to live. South Floridians have sometimes moved about 80 miles north to find lower housing prices, but each area of the state has a few areas – typically smaller towns – with a few $250K homes.
When the Fed moves to slow inflation and moderate the economy, Boston Fed Pres. Eric Rosengren thinks housing should be targeted first to avoid any “boom and bust.”
Transaction reminder: If a hurricane threatens Fla., property insurers won’t issue new policies, so lenders won’t issue new loans. But the rules vary by insurer.
Certain apps may be draining the battery. And if your phone seems sluggish, check available memory. Some apps take a lot, which can slow down operations.
Some homeowners have no choice, but others can choose Citizens. In many cases, Citizens will save them money – but it comes with important caveats about claims.
Ginnie Mae – the funding arm behind FHA and VA loans – created a new “pool type” to secure “modified loans with terms up to 40 years.” It’s essentially the funding groundwork to release a new type of 40-year loan that Ginnie Mae expects to start offering in October.
Shaken by the recent disaster in Surfside, many condo owners wonder what they don’t know but should. A Q&A with specialists and attorneys provides some answers.
It rose 21% quarter-to-quarter nationally, though down 6.1% year-to-year. In three Fla. cities noted in the study, about 1 out of 100 sales go to iBuyers.
The average 30-year, fixed-rate mortgage has jumped over and under the 3% mark for months. This week it slid just below again, averaging 2.98%.
Many people look forward to traveling, beaches and fireworks this July 4th – but remind Fla. homeowners to take steps to help make their homes safer over the holiday.
More at-risk homeowners with a loan-to-value ratio less than 80% can now qualify for a lower-interest-rate refinance if Fannie Mae or Freddie Mac own their loan.
A scam reported out of Pa. specifically targets real estate licensees. The caller says the agent missed jury duty and, unless they pay a fine, may lose their license.
It could take years to understand the Surfside tragedy’s cause, and condo buyers will likely pay more attention to building inspections and assessments going forward.
ORLANDO, Fla. – Articles in Florida Realtors’ Legal Newsletter in the past addressed the time for acceptance provisions that exist in all the Florida Realtors contracts. However, this article specifically addresses this provision in the context of today’s hot market. Let’s walk through the language regarding the time for acceptance, what it means and the…
If disaster destroys a home, the owner’s “replacement coverage” should cover the cost of rebuilding – but maybe not if current building costs have outpaced policy limits.
Common words often have specific legal definitions and might not mean what you think. Sometimes, the definition is specific to a contract. Sometimes it’s industry-specific. And sometimes a regular dictionary is the right reference source.
However, the CDC previously said a July 31 extension would be the last, and the court will keep the ban in place for the “orderly distribution of … rental assistance funds.”
Using a new credit card could boost credit scores and help move to homeownership, though it would take 10 years to accumulate $6,000 if paying $1,500 per month.
Pending sales rose 8% month-to-month in May and 13.1% year-to-year – the highest May reading (114.7) since 2005. NAR’s economist calls it a surprise following April’s decline and less affordability; but higher wealth and “rising prices evidently provided funds for purchases.”
Across Fla., 177 young people are getting help with their college costs from Florida Realtors Education Foundation, as they prepare for a more usual experience this fall.
Fla. property can easily transfer after an owner’s death if they set up a lady bird deed. It’s similar to a trust fund set up for finances but applies to a property asset.
RE Q&A: A condo board denied a tenant’s dog that was 30 pounds above their weight limit, but she later got documentation showing it’s an emotional support animal. Can she do that? Also: Condos, HOAs, noise and pickleball.
During the Great Recession, some owners treated their home like a piggy bank, later finding themselves underwater. Don’t make that mistake again, Fannie’s chair says.
The April Case-Shiller home price report found prices rising at their highest pace since 2005, and the forces pushing prices higher offer “little evidence of abating.”
The UF gauge of Florida consumer outlooks fell in May but rose 1.5 points to 82.7 in June. Economist expects confidence to “keep recovering slowly in the months ahead.”
During the Great Recession, some owners treated their home like a piggy bank, later finding themselves underwater. Don’t make that mistake again, Fannie’s chair says.
The tight listing inventory has led to an uptick in phone calls asking homeowners if they’re interested in selling – but occasionally U.S. and state do-not-call laws are ignored. The Fla. Dept. of Agriculture says complaints are up 41% this year, and it wants all violations reported.
Three bills from the 2021 final report on the Legislature become effective Thursday, including a new property insurance law and $900M to help the environment.
National consumer confidence has moved higher four months in a row, and June numbers hit their highest level since the start of the pandemic – in March 2020.
What’s the future for office space? Employees are being called back to the office, but the new office-home balance likely won’t be clear until the end of the summer.
The Realtors Relief Foundation formed during the aftermath of 9-11. In the past 20 years, it’s helped over 17,000 families and distributed $33M in housing-related aid.
Cities drew from various federal pots to fund hotel rooms for the homeless during the pandemic – but now officials expect thousands will be back on the street.
Before contacting a Realtor, homeowners may tell a few people that they’re planning to sell. How can you find these people and talk to them first?
The consumer bureau’s acting director, Dave Uejio, says the foreclosure-ban end will “drain billions of dollars in wealth from the Black and Hispanic communities.” The rules require lenders to assertively help homeowners stay in their homes and understand their options.
In addition to a foreclosure extension, owners with an FHA home loan now have forbearance extension options and can find help via FHA’s new outreach program.
Should doc stamp money collected for housing be spent only on housing? Florida Realtors members think so, and the association throws its full support behind a drive to amend Florida’s constitution. But that petition drive needs almost 1M signatures – including yours.
HUD wants to restore a 2013 rule that focused on “disparate impact,” which is an analysis of a practice’s outcome even if the practice itself isn’t discriminatory.
In the end, coming out on top largely depends on the highest offer. But one Realtor also calls the seller’s agent to see what the seller considers most important.
“When it comes to (Florida’s) affordable-housing needs, we need all the help we can get,” editors write. The state’s “housing funds help people who are first responders, our teachers, our paramedics with down-payment assistance,” says Florida Realtors President-Elect Christina Pappas.
The nation’s highest-profile builder of affordable housing says rising supply costs and a drop in volunteers has made the program unsustainable, at least for now.
An existing Realtor scam asks members to help pay for a sick son’s surgery, but it now appears as if the request for help was sent by your local association.
HUD Secretary Fudge wrote a letter making it clear that ex-prisoners qualify for emergency vouchers – and to avoid “overbroad denial … on the basis of criminal records.”
The CDC extended the federal eviction moratorium for another month, from June 30 to July 31, further frustrating landlords. However, CDC also said it’s likely that this new deadline will be the last one. FHFA also announced that its foreclosure moratorium was extended to July 31.
The average rate for a 30-year, fixed-rate mortgage rose from last week’s 2.93% to 3.02% in one week, likely due to a surging economy and elevated inflation.
Is the current inflation rate temporary or long-term? The answer has political overtones, but in testimony before Congress, Fed Chair Powell kept his “temporary” stance.
When a show takes place in a real town, viewers often want to visit and sightsee oft-used spots – so St. Petersburg-Clearwater created their own Amazon TV show.
The high court ruled that Federal Housing Finance Agency (FHFA) oversight of Fannie Mae and Freddie Mac violates the U.S. Constitution’s separation of powers.
Agents with emotional intelligence – an ability to read clients’ emotions – tend to make better connections and collect a higher roster of satisfied client referrals.
Mortgage insurers’ 2021 survey finds 69% say affordable housing is a top concern, and 57% said the low housing supply. This year’s survey also looked specifically at race and found that Black (74%) and Hispanic (65%) respondents included an inability to save for a down payment.
May new-home sales dropped to the lowest pace in a year, with prices up 18%. Part of the reason: 20% of builders limited sales activity to manage supply chain problems.
Luxury sellers want a human approach. Improvise conversations, and talk about the client 95% of the time and yourself 5% – and be frugal with the 5%.
A condo complex’s major renovation includes flooring, paint, furniture and art. Is a single resident vote OK for the entire project, or does each facet require approval?
In April, half of mortgage homebuyers put down 20%; 25% of all buyers paid with cash. While buyers have low-down mortgage options, it’s not helping much these days.
May’s 0.9% drop is the fourth month-to-month decline in a row. Part of the reason? The median price had a record 23.6% year-to-year increase – and 17 days to contract.
Florida Realtors’ data: May had more closed sales, more new listings and higher median prices (up 27.7% for single-family homes, 24.1% for condos) than a year ago. Pres. Lambert notes one factor behind rising prices is that Fla. “is experiencing a greater share of luxury sales in 2021 compared to a year ago.”
From July 1 to July 7, 2021, Fla. consumers can skip sales taxes on fun-time items, such as entertainment admissions, sporting equipment and camping supplies.
Focused marketing will likely yield better results, but many agents start with a broad campaign. The latter usually reaches a lot of people but results in fewer leads.
NAR is working with a 100-organization group to boost Black homeownership – 3M more by 2030. The coalition’s “3by30 initiative” includes a 7-point plan. NAR VP Bryan Greene says Realtors will keep working to improve federal and local policies that help raise ownership levels.
People with student-loan debt should find it easier to buy a home with an FHA loan. The agency updated its calculations to “remove barriers and provide more access.”
Citing new-home supply problems and tight inventory, Fannie’s latest forecast calls for a 4.2% uptick in 2021 home sales – a cut from 6.3% predicted a month ago.
A Coconut Grove empty-lot owner tried to pay property taxes, only to be told the lot had been sold – but it was actually stolen by professionals and resold.
The pandemic boosted consumer demand, but supply chains can’t keep up, causing inflation. But after this temporary condition ends, what’s next? Economists can’t agree.
If a home in a 100-year flood zone was submerged five years ago, it’s not necessarily safe for 95 years. Each year it has a 1% chance of flooding, regardless of history.
When considering loan applications, lenders can’t consider maternity leave without violating a Fair Housing Act protected class. But complaints suggest some do anyway.
A divorce decree that awards the house to one spouse is akin to a set of instructions – and difficult situations can arise if those steps aren’t completed.
Airbnb wants to “send a strong message” that helps keep people in homes and won’t accept new short-term rentals if told a tenant was evicted for nonpayment of rent.
REIT magazine interviews: Five economists generally agree that commercial real estate is recovering from pandemic shutdowns, though that will vary by sector and geography. Still, there’s a light at the end of the tunnel, and the U.S. will recover faster than the rest of the world.
ATTOM: Only 2.7% of single-family homes and condos in 1Q were considered a house flip down from 4.8% during 4Q 2020 and from 7.5% year-to-year.
The downside to Zoom calls? Hundreds of people see your home – and how well you clean. While 73% clean more, 18% feel “house shame” and use virtual backgrounds.
Inflation hasn’t pushed mortgage rates higher because the market believes it’s only temporary, says Freddie Mac chief economist.
May survey: In Cape Coral, 75% of sellers had a bidding war, as did over 50% of sellers in other big Fla. metros. Only Jacksonville, at 34%, had more non-bidding sales.
Builders added more homes last month, but the increase isn’t enough to keep up with demand. And in the face of rising lumber prices, new building permits were down 3%.
CoreLogic: The cost to rent a single-family home rose 5.31% year-to-year in April, up from 2.4% one year earlier. Detached homes rose 7.9%; attached homes rose 2.2%.
On the one hand, it shows a home is pet friendly and great for families. It also draws in more homebuyers. On the other hand, it could suggest pet odor problems.
Calling the current housing shortage “dire, with a chronic shortage of affordable” homes, NAR suggests steps to take but warns it requires a “major national commitment.”
Lee County tops NAR’s list of U.S. counties for the highest increase in vacation home sales, with Collier County also making the top 10 list. In 2020, vacation home sales were 5.5% of total existing-home sales; in 2019, they were 5%. Vacation home median prices were up 14.2%.
In addition to a wave of new Fla. residents, many buyers find themselves “forced to rent,” many month-to-month, because they haven’t successfully found a home to buy.
When will interest rates go up? The Federal Reserve might weigh in, but it still says that inflation is a temporary problem caused by supply-chain bottlenecks.
Doc stamp money in Fla.’s affordable housing trust funds should be used for affordable housing, but the Florida Legislature often “sweeps” it into general revenue. A constitutional amendment proposed by Florida Realtors would change that and secure ongoing support for housing in Fla.
A bubble, by definition, pops and prices plummet. Look at buyer demand. Look at homeowner equity. Prices could stop going up for a bit – but it’s not a bubble.
Several companies say meeting participants can be 3-D holograms of remote workers, a close replication of in-person meetings – but no one-on-ones by the water cooler.
NAHB chairman says supply-chain problems, like lumber, created production problems that forced some buyers out of the market when they could no longer afford a new home.
FHA expanded its loan program to DACA (Deferred Action for Childhood Arrivals) residents, people with refugee or asylum status and citizens of Freely Associated States.
A condo complex that offers electronic voting systems generally has more participation – but Fla. law includes rules for boards that want to set up an e-voting system.
The national eviction ban could have a long-term impact on mom-and-pop investors. If the financial hit from non-paying tenants forces them to sell their investment homes, it could boost the size of institutional investors who generally have deeper pockets to weather financial losses.
626 public housing authorities across the U.S. will soon receive 70,000 emergency housing vouchers to help Americans dealing with homelessness.
Homes.com: In the past six months, 82% of listings sold for list price or higher, plus 1 in 10 had no showings before contract signing, and 1 in 4 had 5 showings or less.
Within the social media world, Pinterest may be best suited for real estate pros. It has over 450M users and is ideal for directing traffic to your website.
Investors fear inflation and mortgage rates usually rise. But investors appear to believe the Fed when it says the U.S.’s current bout of inflation is only temporary.
New-business formation jumped 24% higher in 2020. The pandemic increased the use of digital tools and forced many biz owners to improve their internal systems.
The 12 groups – which includes NAR, bankers and landlords – applauded pandemic efforts but said it’s time for the eviction ban to end as scheduled on June 30, 2021.
The rule suggests it’s not enough for communities to simply avoid blatant discrimination – they should also take affirmative action to further Fair Housing Act goals. The interim rule, effective July 31, reinstates fair housing goals first established in 2015.
The study looked at net gain – people moving in vs. people moving out – and Fort Myers moved to No. 1 in the first quarter from No. 8 one year earlier.
A good social media manager will not only do time-consuming tasks, such as videos and responding to comments – but better since they’re experts in the field.
Some experts say affordable housing’s future will come from gigantic 3-D printers, and the nation’s best-known house-building charity just built its first one in Arizona.
The 30-year, fixed-rate mortgage averaged 2.96% this week, down marginally from last week’s 2.99% as it remains in under-3% territory.
The annual report compares LGBTQ buyers and sellers to the overall market. It found that LGBTQ buyers buy smaller and older homes, but they plan to move out five years earlier than other buyers. As a group, they tend to identify as male more than female, and be single and unmarried.
Renters are traditionally told that it makes sense to buy if they’ll live in a home at least three years. But people who bought in 2017 are now sitting on a nest egg.
Study: Home prices are rising rapidly, but two-thirds of city sellers who moved to a smaller metro traded up without spending more money.
While renters may falsely claim a pet is an emotional support animal, evidence has emerged showing a big benefit for people actually struggling with chronic mental illness.
A survey of young adults found misconceptions: 2 out of 3, for example, are waiting for interest rates to go down – and 90% aren’t sure what a fixed-rate mortgage is.
A bill that may increase rates for some owners with state-owned Citizens Property Ins. will likely be signed into law. DeSantis says it will “stem some of the problems.”
Buyers care about a home’s flood risk more than they once did, but it doesn’t override the appeal of a beachfront or lakefront view. According to a study, high flood-risk homes sold for a record 13.6% premium in 2021’s first quarter, up from 1Q 2020’s 10.1% and 1Q 2019’s 7.2%.
When can agents talk to an appraiser? What can they say? What if an appraisal and purchase price don’t match? Realtors talked to appraisers at NAR’s recent meetings.
Also: Property insurance costs skyrocketed. Is it OK for the board to take out a loan from the roof reserve? And is a clubhouse bathroom upgrade a “material alteration”?
Summer remodelers and builders face another supply-line caused problem this summer: A paint shortage. Paint firms expect a temporary 6%-40% price increase.
Many owners would love to get top dollar for their home, but they weigh that perk against the downside – buying another home – and fears outweigh their desire to list.
After a hurricane, there’s nothing worse than homeowners’ sentences that start, “I should have …” An hour preparing now can minimize bigger troubles later.
The question is simple – the answer not so much. CFPB (Consumer Financial Protection Bureau) wants to wait until 2022. A request for rule comments, however, received a range of suggestions. And as a practical matter, can lenders handle thousands of foreclosures all at once?
Lots of Americans who could buy a home choose to rent instead, notably many with incomes in the $120K-$150K range. They view the higher cost mainly as a convenience fee.
Tiny Newby can advertise her listings by showing off their kitchens, and she does that by actually cooking in them with the videos posted on her Facebook channel.
Stressed buyers and renters desperate for a home can make rash decisions – and scammers know that. Escrow wire-fraud scams can destroy a buyer’s dreams only moments before a closing, but Fla. A.G. Moody also focuses on rental, loan-flipping and foreclosure relief scams.
One judge ruled to end the eviction moratorium, but an appeals court refused to make any changes right away. Landlords now want the U.S. Supreme Court to weigh in.
The real estate market is cyclical, but the next slowdown might take longer than you think. Most experts predict “boiling” well into 2022 or even 2023.
A tech-challenged criminal can now buy software that shuts down any business’ operating system. Imagine the impact – then take concrete steps to keep your data safe.
More owners install solar panels as costs drop, and in Calif., they’re mandatory for new construction. One day, buyers will probably expect every listing to have them.
Aerial photography is becoming more common in real estate listings – even for interior shots – and new FAA rules may allow drone use in even more locations.
Some agents avoid rentals because they pay less than home sales., but, beyond steady income, landlords and renters can become leads when they’re ready to buy.
As the office market decides how and when employees will return, the employees themselves may pose an unexpected challenge: 39% say they’ll quit if forced back full-time.
The bill, if signed by DeSantis, would add new limitations to the way local governments can levy impact fees – which pay for infrastructure needs – on new developments.
The association representing private mortgage insurers (PMI) says the average Fla. buyer has a credit score of 739, a $58K annual income and buys a median $310K home. In 2020, 55% of Fla. first-time buyers relied on PMI to make down payments of less than 20%.
Business days, calendar days, holidays? Deposits, inspections, repairs and automatic closing extensions? Contract timelines can still confuse members. Here are some of the top questions posed to Florida Realtors Legal Hotline.
The 2021 hurricane season began June 1, but water pipes can burst year-round. If an insurable event occurs in a condo, however, is it a unit owner’s job to pay or the association’s? It’s a simple question with a sometimes complicated answer.
Listing shortages lead to some disconcerting behavior. Sellers have tremendous leverage in this intense seller’s market, but the Code of Ethics applies during all types of markets. Still, a handful of listing agents take advantage, simply because they think they can get away with it.
Your exhausted seller received five offers in one day. Four are over asking price, but the last one offers $50,000 less, possibly making it a waste of time for an already exhausted seller. Must you still present it? Perhaps not – but only under very specific conditions.
“Every day, Realtors promote housing opportunities and help people realize their dreams of homeownership,” says 2021 Pres. Cheryl Lambert.
The owners of multifamily properties who postponed mortgage payments – in exchange for not evicting residents – may be able to extend forbearance until fall.
19 out of 20 builders face an appliance shortage, with 57% calling it a “serious shortage.” Lumber products hold the 2, 3 and 4 spots, with windows and doors at No. 5.
If Fannie Mae owns a homeowner’s loan and they make 80% or less of their area’s income, a loan refinance program debuting June 5 could save them over $100 per month.
Has 14 months of mask wearing and social distancing changed business etiquette? It’s still too early to shake hands and elbow bumping is gimmicky, so just nod instead.
If children and grandchildren move back home after a financial setback, is “free rent” from Mom and Dad considered a gift that’s taxable by the IRS?
Florida Realtors economists: Where do most buyers come from? It’s no secret: Lots of people are on the move, and if you know they’re relocating locally or coming from afar, you can adjust your approach to client prospecting. To help, Florida Realtors’ research team studied moving patterns.
What could go wrong? Buyers skittish about climate change or economic upheavals can buy new off-the-grid homes that would be self-sustainable after a disaster.
The president is launching a first-ever interagency effort to address “home appraisal inequities” and recommend rules to “aggressively combat housing discrimination.”
If a retirement community’s residents don’t work, who does? Big ones, such as The Villages, can’t attract enough working-age adults, and labor costs keep going up.
Bank of America says it will resume foreclosures in July, though “the amount … is way down, and most of the clients have become current,” and JP Morgan Chase says 90% of customers have left forbearance. But Wells Fargo plans to wait until 2022 to resume foreclosures.
UF: Consumer confidence in Fla. dropped 1.4 points in May, because a small uptick in current attitudes wasn’t enough to counter a slight downturn in future expectations.
The residential component proved strongest with a 1% month-to-month gain and a 29.7% year-to-year gain, while non-residential fell 0.5% by month and 4.8% by year.
NAHB says Pres. Biden is uneasy about the rising cost of lumber and homebuyer problems. Builders proposed a summit that includes the lumber industry and Dept. of Commerce.
While a homeowner on the 40th floor of a Fla. high-rise has little to fear from storm surge, wind strength increases with elevation. Advised to evacuate? Best to do it.
The National Association of Realtors says the new partnership will “identify training opportunities … cultivate LGBTQ+ leaders and mobilize members.”
Year-to-year, however, pending sales skyrocketed 51.7% since April 2020 was the start of nationwide lockdowns to fight a spreading pandemic. NAR Economist Yun says contract signings now are near pre-pandemic levels after the big surge during COVID-19 lockdowns.
Many concerns mirror other real estate investments, but some are unique. Location is important, for example, including the neighborhood – not just “close to attractions.”
Children may move home, but many multi-gen homes are to help middle-aged adults take care of aging parents – and enjoy the benefits of trustworthy in-house babysitters.
Not just any subject line will do, according to a recent consumer survey. “Just sold in your area” and “real estate market snapshot” topped the list of winners.
What if today’s tight inventory gets even tighter? What if mortgage rates go up? NAR’s chief economist says strict lending laws keep a real estate bubble at bay.
Despite a cutthroat market with multiple bids and successive failures to secure a home, 71% of successful pandemic-era buyers say their new home meets their needs, 75% say it was a good decision, and 45% wish they moved sooner. Only 19% say they should have waited.
The 1-time donation will help RRF develop a sustainable reserve fund. Pres. Lambert: “I’m always so proud of how Realtors respond when someone needs a helping hand.”
Up to 50 local or rural communities can apply for money through a competitive funding program that’s designed to help youth “change the trajectory of their lives.”
S&P Case-Shiller: An army of buyers competing for fewer homes pushed prices up 13.3% in March, for the biggest year-to-year home price gain since December 2013.
Florida Realtors economist: Whatever the price point, buyers have fewer options this year than they did last year. But the affordable home supply suffered the most. The amount of single-family homes with a value of $300K or less declined over 60%.
Affordability is important, but for some, an older home is like comfort food during pandemic lockdowns. Plus, more buyers now want a home without a great room.
Americans feel a lot better about their current situation and less excited about the future. However, global consumer confidence indexes soared higher.
Rising home prices, material costs and a labor shortage have taken their toll, builders say, and more potential new-home buyers have been priced out of the market.
An Arizona agent with 427K TikTok followers says a lot of her leads come from parents who say their child saw one of her educational posts and told them about it.
Agencies can’t ding credit scores of owners skipping monthly payments via forbearance. As a result, their scores are up 14 points; non-forbearance owners are up only 7.
As more urban dwellers moved to small towns with affordable home values, investors moved with them. In many smaller towns, more first-timers are losing bids to cash investors.
A rising cost for lumber has added thousands to the price of a new home, and an ongoing U.S.-Canada dispute could make things worse. Pres. Trump raised tariffs to 20% in 2018 and later lowered them to 9%. The Biden Admin. now proposes an 18.32% tariff.
When private insurers cancel a policy, homeowners should find replacement coverage ASAP to avoid forced insurance that can cost up to 10 times as much.
Consumers won’t pay sales tax for many disaster supplies starting Friday, a back-to-school holiday is in Aug., and a new July holiday nixes sales taxes on leisure events.
Texting is common today – but also effective for marketing. Expect each text to be read, but keep content concise and reply quickly even if you don’t have an answer yet.
An Indiana woman in a largely Black neighborhood says comp selections affected her appraised value. As a result, advocates say blind testing will be done more often.
As businesses struggle to make websites accessible for disabled users, technology continues to help on the other end, creating new tools those users can tap for help.
It’s the third monthly decline in a row. NAR cites the lack of inventory for the slowdown, as well as the increase in median price to $341,600, up 19.1% year-to-year.
Fla. real estate’s top source for international business faces visiting restrictions for at least another month. Until then, only trade and essential travel is allowed.
Florida Realtors’ data: April had more closed sales, more new pending sales and higher median prices (up 22.4% for single-family homes, 19.6% for condos) than a year ago. Pres. Lambert says, “keep in mind the comparison data comes from April 2020 when Fla. was experiencing the full impact of the pandemic.”
NAR had 1.48M Realtor members at the end of 2020, up from 1.4M one year earlier, and 4 out of 5 (79%) plan to stay in the profession at least two more years. Realtors with 16 years-plus experience made $75K, down from 2019’s $86.5K – but 1 in 4 members made $100K or more.
Overall, rising home prices lifted all boats. Homes in Opportunity Zones had first quarter price increases pretty much matched by homes in more affluent areas.
Faced with a dearth of affordable existing homes, single-family investors say they’ll spend big money creating new rental-home developments in Fla. and other states.
About 2M Americans have postponed mortgage payments, but their grace period is about to end. And for the 1.7M with a Sept. deadline, it’s time to start planning.
Pumped by top-dollar offers, some sellers find themselves closing only weeks after listing their home, boosting demand for leaseback options or short-term rental housing.
A 2017 tax overhaul changed the rules; a new proposal could do the same. Investors should understand all possible changes before they select new investment options.
If stressed buyers somehow manage to land the home of their dreams, they may find it will take an additional nine months to secure the refrigerator of their dreams.
Most sellers list for personal reasons, but a survey found that 1 in 4 (24%) who plan to list within the next 12 months are doing it because of the profit potential, with 53% expecting to get their asking price and 24% anticipating more. And 25% expect to have an offer within one week.
New-home starts fell a surprising 9.5% in April. Builders say buyers are dropping out of the market because a rising cost for raw materials keeps pushing prices higher.
State-owned Citizens Property Ins. is growing rapidly, and Fla. insurance regulators recently authorized “extraordinary” terminations for thousands of homeowners insured by Universal Insurance of North America, Gulfstream Property & Casualty and Southern Fidelity.
In Fla., 40 agencies will get “Emergency Housing Voucher” money to help individuals and families experiencing homelessness or at risk of homelessness.
Some homeowners associations think they have more power than they do, and they can dictate paint colors only if empowered to do so in the declaration of covenants.
Clients need to believe they’re in good hands. Everything you say should demonstrate your skills, display your values or provide valuable information.
One day soon, artificial intelligence (AI) will go mainstream. But even now, it can identify soon-to-be customers, allow buyers to view fewer listings and help investors.
Thanks in part to working from home, people want blazing fast internet access, and 5G, once widely installed, could be up to 100 times faster than current 4G connections.
In the wake of recent complaints, AG Ashley Moody warned movers about tricks some companies use, including a refusal to unload a truck until buyers pay more money.
Rising costs motivate some movers, but a lot of South Floridians are maximizing profits by selling their home now and moving to an area where their housing dollar buys more real estate. Moves to Tampa, Orlando, Fort Myers, St. Lucie County and more are up 108% this quarter.
Investors save money during boom times to buy distressed property when things slow, but what’s a post-pandemic bargain? Should they buy offices or retail? It’s not clear.
Condo associations became COVID-19 cops during the pandemic, and their powers, so far, aren’t diminished much even if the CDC and Fla. say it’s OK to go without masks.
Dues won’t go up in 2022, an MLS policy now requires property addresses for residential listings on the day they’re submitted to the MLS, and new policies were approved.
After the quickest recovery in the nation’s history, consumers with pandemic savings will “do more shopping, restaurant dining, traveling and in-person house hunting.”
After July 31, Quicken will retire its name and start using Rocket Mortgage, a subsidiary it formed in 2015 in order to completely automate the lending process.
The season starts in two weeks: June 1. What will happen to pets if you evacuate? What about work? What about school? If separated from family, how will you meet up?
The housing industry had an artificial pause button pushed during the pandemic, thanks to eviction moratoriums, forbearance programs, etc. As those draw to a close, CFPB proposed rules to maintain stability, and NAR commented with a suggestion that short sales might be the way to go.
Financing for a second-home purchase could be limited, taxes could go up for 1031 like-kind exchanges, and policy updates are expected for national flood insurance.
Realtor.com study: The median asking price for a Fla. home in April was $367,450; the asking price for the most expensive listing was $95M – a 25,754% difference.
Some agents say “elevation, elevation, elevation” is replacing “location, location, location” in S. Fla. But it still doesn’t top most buyers’ lists as a must-have.
Also: Should a condo board send warning letters before issuing fines? A board does so, but some members now wonder whether that’s a good idea.
Except for sky-high material prices, it’s a good time to be in the home construction industry. Of homes available to buyers today, one in four (25.7%) is brand new.
Underwater homeowners – they owe more on their mortgage than their home’s value – are more likely to end up in foreclosure. But today, 1 in 3 owners with a mortgage (32%) have at least 50% equity, and only 1 in 21 (4.7%) owes 25% or more than their home’s current market value.
The average 30-year, fixed-rate mortgage dropped to 2.94% from last week’s 2.96%, but with inflation apparently rising, they’ll likely change direction soon.
About 4M owners chose to delay monthly mortgage payments using forbearance, and 1 in 3 (34%) used the money for essentials. Many now worry about what comes next.
Florida Realtors economist: Florida’s population benefited from residents leaving New York City, but other states experienced gains too – some with triple-digit increases. With Fla. migration, residents of NYC’s Manhattan flocked in the highest numbers.
A $1T investor in real estate, stocks and other assets says concern about racism and climate change isn’t just altruism. Many companies see it impact their bottom line.
Pandemic-era buyers moved farther out and to new cities, assuming they’d never have to return to the office. Now, if forced to choose, 25% would pick home over their job.
The lending giants keep mortgage originations humming but failed during the Great Recession and the feds took over. They must now create a Plan B in case it happens again.
The index offers insight into local transportation, health services and social life. AARP also hopes it gets younger buyers to consider a home’s longer-term benefits.
Two-thirds of homeowners in forbearance have already started making monthly payments – and March had the best single-month improvement in delinquencies in 11 years.
NAR’s board of directors will consider a motion submitted by the MLS committee last week: That all MLS listings must include a street address or other legal description.
Florida Realtors’ data: Single-family home sales up 19.4% year-over-year, median sales price up 17.6% to $317.5K; condo sales up 37%, median price up 14.8% to $235.4K.
Justin Stamper says he’s digging through court cases to find flippable homes, but even those owners say, “‘Get off my phone! You’re the 26th person to call me today!’”
About 1 out of 10 metros had double-digit home price gains. NAR economist: They’re happening in all markets, big and small, even metros long considered off-the-radar.
REX’s lawsuit against Zillow alleges that separating MLS listings from other listings gives the MLS listings an unfair advantage. Zillow says MLS rules leave it no choice.
Landlords can now apply for money to recoup lost rent. DCF debuted a website, OurFlorida.com, last week and started offering applications Monday. Landlords receive payments directly, but both landlords and tenants can apply for help.
Future demand for both the residential and commercial markets is based, in part, on the number of workers who commute again – but their numbers remain low so far.
After forbearance, owners can pick up where they left off, but the return process can be complicated. Both South and Central Fla. have a large number of these owners.
If a development has a large number of short-term rentals – individually owned units or single-family homes rented out similar to a hotel’s operations (condotel) – what unique lending standards for home sales should apply? FHFA opened a comment period that runs through July 5.
Economists predicted commercial real estate’s future at NAR meeting. The office market still has a wild card, but they’re generally bullish about the overall industry.
Reach out if a friend or relative acts differently – some healthy adults are having unhealthy reactions to the pandemic. Suicide prevention: (800) 273-TALK, day or night.
Under Pres. Biden’s proposal, 1031 like-kind exchanges only defer $500K from taxation. NAR says not to panic, though. There’s time before any decisions are made.
Rising home prices and recession memories have convinced some buyers that a bubble will pop and prices will drop. But it’s just too much demand and too little supply.
After two appraisals, a Black owner removed ethnic art, asked a white male to act as her rep, and added $100K to her appraisal. “Comps” choices may have played a role.
In 2001, 10% of Realtors were nonwhite; in 2020, that number rose to 24%, according to a study on career choice released by NAR. However, whites had the highest median number of transactions (7) compared to Blacks and Asians (2), Hispanics (3) and LGBTQ+ members (5).
There are pros and cons to buying a new vs. existing home, but it’s taking a longer time to complete a new one – about four months more than it did two years ago.
The newest type of real estate investing still carries risk: A Jacksonville crowdfunding firm owner pleaded guilty to mail fraud when some projects didn’t fully fund.
DCF, the Fla. department charged with distributing $850M of federal funds to assist with rental assistance, introduced a dedicated website to get funds to landlords and utility companies. Applications should be available soon, and payments can be direct-deposited into business accounts.
A U.S. District Court judge called the CDC’s eviction ban unlawful, effectively ending it. The DOJ already appealed the decision, but a stay has not yet been requested.
If someone knocks and offers “a free home inspection to check for recent damage,” it may be a scam. Fla.’s CFO arrested two people using undercover fraud detectives.
In July, Realtors across Fla. will clean the state’s beaches, rivers and waterways – a hands-on approach that complements legislative efforts to protect the environment.
Trade wars could impact real estate: Starting in 2022, Americans who own Canadian summer homes may be required to pay a 1% tax on underutilized, foreign-owned homes.
Hackers breaking into your account – or a broker’s account via the agent with the weakest password – start with “12345” and “password,” the most common in the industry.
Renters in unincorporated Hillsborough County cannot face discrimination based on their income, including tenants who use Section 8 housing vouchers. Landlords must also give tenants a list of housing rights and provide a notice for late fees.
The Executive Order doesn’t block individual businesses from requiring masks or social distancing, but it limits the authority of cities and counties to mandate them.
Organizations can apply for funds from HUD. $7.2M will be allocated for education, $2.25M for fair housing groups, and $10.7M for investigations and enforcement.
Orange County’s Rights of Nature law will be tested in court for the first time. The bodies of water claim it’s wrong to develop 115 acres of wetlands near Lake Nona.
An influencer has a social media channel with a lot of viewers, and some agents have given them luxury home tours to be filmed and promoted to users.
New rule: Debt collectors must give tenants written notice about their rights under the CDC moratorium – and they can’t misrepresent a tenant’s eligibility for protection. To spread the message, the consumer bureau directly contacted landlords who represent about 2 million units.
Overall sentiments among Floridians remain 19.3 points below pre-pandemic, but month-to-month consumers’ attitudes rose 1.7 points as the state slowly bounces back.
The Executive Order doesn’t block individual businesses from requiring masks or social distancing, but it limits the authority of cities and counties to mandate them.
The economy grew 6.4% in 2021’s first quarter, and experts predict greater strength in the second quarter. A projected growth of 7% this year hasn’t been seen since 1984.
Where do I go if I can work anywhere? Jacksonville. A report found it a top destination, notably for young workers who love the outdoors and a reasonable cost of living.
In addition to hurricane and school sales tax holidays, lawmakers added an entertainment one. Businesses can also get a tax credit up to $5M for some charity donations.
The pandemic lockdown boosted the value of good neighbors and communities. Buyers today want a great house, but they also want it located in a great neighborhood.
In the backyard, a fire pit/bench ranked first followed by upgraded lighting. In the kitchen, a bar area with seating led the list followed by a place “for gathering.”
The rising cost of lumber shows the importance of supply chains. In 1925, a sunken ship blocked Miami’s port, leading to the end of a heated market that couldn’t keep up.
By the time negotiations ended and bills were passed, no interested party got everything they wanted under bills passed by the Florida Legislature, including the state’s attorneys, insurers or homeowners. But changes should help maintain a viable private insurance market in the state.
In Dec., 63% of homebuyers made an offer on a house they didn’t visit, up from 45% five months earlier. Pandemic travel fears and today’s tech are part of the reason.
To protect residents, some boards have suggested a policy that would allow only vaccinated residents and guests, not unvaccinated ones, to access common elements.
Fla.’s condo law, unlike HOA, does contain a strict cap on what can be charged. Also: What can a board do if a resident stops a banned practice only temporarily?
Total existing U.S. home sales were up 12.3% year-over-year while median price was up 17.2%. However, existing home sales fell (-3.7%) in March compared to Feb.
A recent broker survey found 41% of real estate pros used direct mail to generate listings and 24% used technology to find which sellers were most likely to sell.
Florida Realtors’ data: Single-family home sales rose 23.3% year-over-year, median sales price up 18.9%; condo sales up 52.6%, median price up 15.2%. The coronavirus was first detected in Fla. on March 1, 2020; therefore, last March’s data was the first to reflect the pandemic’s impact.
In Feb., the number of homes sold for more than $1M rose by 81% year-over-year, while the number of homes that sold for less than $100K fell 26%, according to NAR.
An HOA can’t stop residents from flying the American flag and certain other flags – but there are some restrictions to those protections, such as maximum size limits.
Total existing U.S. home sales were up 12.3% year-over-year while median price was up 17.2%. However, existing home sales fell (-3.7%) in March compared to Feb.
The 30-year rate was 2.97% this week, down from 3.04% last week. Despite these low rates, many buyers are unable to purchase a home due to the shortage of inventory.
Some of the steps to a real estate career may include: Write a business plan, get your license, create a strong brand identity and build your online presence.
As of April 19, more than 8.14 million people in Florida had received at least one dose of COVID-19 vaccines. Of those, more than half (4.82M) are ages 55 to 84.
Called the Down Payment Toward Equity Act of 2021, the draft legislation is directed at creating equity in the housing market. Eligible home buyers must be the first generation in their family to own a home; first-time buyers could receive as much as $25K under this proposal.
Worried about foreclosures, the federal bureau is reviewing mortgage servicers’ compliance with pandemic relief programs and how they’re handling forbearance requests.
A 3.2% increase for multi-peril policies was approved instead of a requested 6.2% hike; a request to charge actuarially sound rates for new customers was also rejected.
New home buyers and remodelers sometimes find an expensive problem as they start to dig in: Old and faulty wiring that needs fixed or even completely replaced.
A multifaceted bill will net Fla. $1B from internet sales and eventually lower the business rent tax from 5.5% to 2% – a major Florida Realtors legislative priority.
Florida Realtors economist: Cocktail parties – remember those? Once someone finds out you’re a Realtor, the conversation often turns to the current market. Here are suggested responses to a common question you’ll likely be asked at your next cocktail – or Zoom – party.
Of U.S. lawsuits filed over property insurance payments in 2019, Fla. had 76%, according to a state report – but it only had 8% of all property insurance claims.
Most homes complete the sale on time, but of those that are delayed, almost 1 in 3 (29%) have a financing issue, and 1 in 4 (23%) confront an appraisal issue.
Anxious buyers who hope some homes in forbearance would be soon listed for sale may be disappointed as more owners start making their mortgage payments again.
Boards have a few options for necessary quick repairs. Also: Can a board charge an owner $10K for violating the governing documents?
Gov. DeSantis says the money from HUD will go to large-scale infrastructure projects that can make Fla. communities more resilient to future disasters.
Any version of “We haven’t talked in over six months, but …” can be awkward, but you can break the ice by asking the right questions and listening to their answers.
States with marijuana legalization laws have seen increased demand for warehouse space, and about half with pre-2016 legalization laws are seeing addendums added to leases that restrict on-site growing. One recent change: More properties are being bought rather than leased.
Affordability is calculated using a state’s median home price and median income. In the last decade, Fla. home prices went up 99.3%, but income only increased 20.8%.
The bureau’s final rule says “debt collectors” must give written notice to tenants before an eviction, with prosecution and private lawsuits possible if they don’t.
Realtors “can be a force for good and bringing people together,” NAR President Pres. Charlie Oppler said during a special program that honors Fair Housing Month.
Some large, international commercial buyers have started to invest in single-family suburban homes, viewing them as less expensive than apartment building investments.
March housing starts rose almost 20%, and building permits, a sign of future activity, rose 2.7%. Lumber prices, which tripled in just one year, remain a major challenge.
The short answer seems to be yes – but without clear expectations for the commercial industry’s post-pandemic rebound, few investors are willing to commit yet.
An HOA rule mandated that only tenants – no guests – could use the pool, and it shut down the entire pool for a day after someone broke that rule. Is that legal?
Why is the inventory of for-sale homes so tight? A new analysis by Freddie Mac found that supply will meet demand only if the U.S. adds 3.8M new homes. The housing need now is 52% greater than it was in 2018, just three years earlier – and it’s even worse for entry-level homes.
Study: April is the best month to sell a home – more buyer interest, less competition, higher list prices and faster sales – and given market conditions right now that strongly favor sellers, there may never be a better time for homeowners to post a for-sale sign in their yard.
Should an agency that controls money policy worry about climate change? 12 senators said no, but the Fed chair says its concern is limited to potential financial impacts.
The Commitment to Excellence (C2EX) program boosts industry professionalism. Ambassadors will promote the latest “C2EX Challenge” and work directly with other Realtors.
A proposed infrastructure plan would reward cities that change their zoning laws to allow more apartments and garage conversions in areas zoned for single-family homes.
After two months of rising mortgage rates, they dropped lower for the second week in a row, with the average 30-year, fixed loan down to 3.04% from last week’s 3.13%.
In the past month, the question, “When is the housing market going to crash?” surged 2,450%, and “Why is the market so hot?” doubled over just one week.
Many buyers consider size an important element when shopping for a home, but it’s not an exact science – another reason to have an inspection when under contract.
Fla. has the most types of termites in the continental U.S. – 21 established species and some invasive ones spreading, a “new norm in terms of potential termite damage.”
Teachers, firefighters, EMTs and police can buy HUD homes at half price within seven days of posting. Few exist now, but the number will likely grow post-foreclosure ban.
A new real estate investment option in Denver may appeal to investors who don’t want to pay capital gains on a sale, but who are also tired of working as a landlord.
Refi demand surged last year, but banks started tightening their credit standards as nonbank lenders aggressively courted buyers and existing homeowners.
“Investor” covers many types of buyers, but their ability to offer cash helps them gain a foothold in a type of investment largely unaffected by the pandemic.
It’s not always easy to pick and move to a new location, and many boomers relocating to Fla. convince their Northern friends to join them.
Every correctly priced listing today will likely attract offers, but a mid-week listing may give buyers the optimal amount of time they need to visit and make an offer.
While indoor areas should be disinfected following a confirmed infection, soap and water work fine the rest of the time. But masks and hand washing are still important.
Fair Housing Month: NAR says a commitment to equality makes good business sense, furthers compliance with existing laws and promotes a culture that welcomes everyone.
The Home Sentiment Index rose 5.2 points to 81.7 this month, “nearly reaching pre-pandemic levels,” finding that more owners consider it a good time to sell. However, even the number of optimistic buyers rose a bit: Attitudes about mortgage rates were the only notable decline.
More Fla. homeowners facing rising costs or dropped coverage from their private insurance firm are turning to Citizens, the state-owned “insurer of last resort.”
Realtors can call or text a marketing message from their cellphone, providing it doesn’t have the ability to store or dial numbers automatically using a number generator.
Open floor plans? Out. Dedicated spaces for work and learning? In. Walls are sporting bolder, repainted colors, and more yards are turning into entertainment spaces.
A good renter got a dog during the term of his lease even though dogs aren’t allowed. What landlords can do is sometimes different than what they choose to do.
The fiscal year 2022 “Discretionary Funding Request” is a wish list, but it indicates priorities. The latest requests $68.7B for HUD, an increase of $9B over last year.
The Legislature passed and Gov. DeSantis signed a new law that raises the bar for consumers who allege they got infected by COVID-19 at a Fla. business. And businesses have new protections if they’ve made a good-faith effort to comply with government guidelines.
Of the Fla. cities and counties allocated funds for fighting homelessness, Miami-Dade County tops the list with $17.6M, followed by Broward with $14M.
Buyers are moving to smaller cities and more affordable states: renters are buying or moving out of the city. The demographic changes will impact more than real estate.
Realtor membership fluctuates year-to-year and even week-to-week, but NAR’s membership report on March 31 finds 5,118 more Realtors in Fla. than in No. 2 Calif.
JPMorgan Chase CEO Jamie Dimon calls robust consumer savings and a $2T infrastructure plan the economic “Goldilocks scenario” for fast and sustained growth into 2023.
A study released during an NAR virtual Fair Housing event finds new scoring models open doors and boost minority homeownership. Older credit-score models “raised the cost to borrow while limiting access … for minority populations and rural communities,” says NAR President Oppler.
While brokers should still strive to make websites accessible for disabled users, an appeals court ruling suggests that until wording of the current law is changed, websites are not places of public accommodation. The issue remains fluid, but it may bring relief to brokers facing ADA website accessibility lawsuits.
CBRE study: Miami metro area saw a 49.4% gain in San Francisco transplants from 1,190 moves in 2019 to 1,778 in 2020, in part due to the ability to work remotely.
The best marketing tactic to pull in potential customers is not to seem as if you’re marketing to them at all. Start by making it sound like education.
MBA: Mortgage credit availability has hit its lowest level since 2014. In 4Q 2020, the median credit score for approved mortgages was 786.
The 30-year mortgage rate dropped to 3.13% this week from 3.18% last week; it was 3.33% a year ago. High prices and limited supplies continue to impact buyers.
The Legislature permanently cut affordable housing trust funds 50%, up from 33% initially proposed. Florida Realtors will advocate for more during budget reconciliation.
It may be possible to buy a home without the help of a Realtor – but it’s hard to see how given today’s multiple bid competitions for a limited number of homes.
D.R. Horton sold an entire subdivision of single-family homes to online investor Fundrise LLC, as more yield-chasing investors buy homes to rent out or flip.
Higher interest rates help investors, but it’s a big unknown for developers. People are rushing to sweeping conclusions, and “We don’t know which way it’s going to go.”
For many homebuyers, property insurance is a detail, a box to be checked off on the way to closing. But details are important and missteps can be expensive.
Also: A board member also owns a home watch business and provides home watch services to many of the building’s units. Is that a conflict of interest?
Florida Realtors economists: If the home is great but the traffic in the surrounding area is not, the deal might fall through. But a cool traffic tool can empower you to know if traffic in that home’s neighborhood will get the “green light.”
Homes with universal design benefit people at all stages of life and allow aging in place; key are features anyone can use despite age, height, size or disability.
Newly spoiled cats, dogs and other pets won’t like spending a whole day alone, and some firms are considering new rules that allow workers to bring them along.
A proposal to cut 66% of Fla.’s housing trust funds led Florida Realtors to object and issue a Call for Action. Lawmakers have now changed their proposal to a 50% cut.
After warning mortgage servicers not to repeat their Great Recession mistakes, the consumer bureau proposed actual rules to prohibit starting foreclosures before Dec. 31, 2021, with a few possible exceptions – such as proof that they’ve unsuccessfully tried to contact unresponsive owners.
82% of Realtor buyers’ agents say staging helps buyers visualize a property; and 7 out of 10 agents say the pandemic added value to photos, videos and virtual tours.
States will get almost $700M in federal grants this year, a special program for low-income housing. It’s more than double the amount HUD sent out last year.
Marcus & Millichap CEO Hessam Nadji says he “saw confidence return fairly quickly in the third quarter … and then really build up to, for us, a record fourth quarter.”
To Floridians, an old home is more than 25 years old. But for New York buyers used to older housing, an older home has unique charms and “character.”
Fannie Mae survey: Americans have an ingrained belief that housing investments are almost as safe as savings accounts with the growth potential of a stock investment.
For owners in forbearance, a possible foreclosure is closely tied to whether or not they’re working again. This spring, about 800K owners in forbearance – out of a total of 2.6 million homeowners – hit the 12-month mark, though a six-month extension may still be possible.
Help make Realtors’ voice in Tallahassee a little louder: Email lawmakers. Ask them not to permanently cut 66% of the housing trust funds many hard-working Floridians need.
Buyers often set their sights on spring, but unless sellers join in, this year’s shoppers will have 50% fewer homes, on average, to consider buying.
While polarized politics makes passage of a proposed infrastructure bill questionable, NAR thanked the administration for including items that will boost housing.
Many buyers and sellers want to “click” with a real estate agent, and tactics that subtly say, “I’m different, and here’s why …” can secure more customers.
Fla. claimed Ga. took too much water from the interstate rivers, impacting the Apalachicola River and Gulf oysters, but the court said other factors contributed.
FEMA did not release a tool to answer the question on most Fla. homeowners minds: “Will my flood insurance rate go up or down?” But overall, it says 1 out of 5 residents (19.8%) will see a reduction, and 3 out of 4 (76%) won’t see a change higher than $120 more per year.
During Great Recession housing foreclosures, some lenders lost paperwork and made excuses. CFPB doesn’t want that again after the current foreclosure ban ends.
A slow by steady increase in average mortgage rates appears to have slowed this week, with the average 30-year, fixed-rate loan at 3.18% compared to last week’s 3.17%.
While higher housing costs and mortgage rates will chip away at buyer demand, the sheer volume of current buyers makes the next buyers’ market appear far away.
Business is often personal, and LinkedIn’s tool may help boost the chances for referrals when profile visitors can hear your elevator speech and watch you smile.
Florida Realtors economist: Turning seasons into verbs – “We wintered in Florida” – was once a trait of wealthy retirees. But a newly untethered workforce working at home because of the pandemic is now also considering weather-based migration, albeit a little differently.
Congress passed the Fair Housing Act 53 years ago this month, making it the traditional time for Realtors to focus on fair housing issues and promote housing equality.
All five components rose too. UF economist: “Consistent with the vaccination rollout …, the gain in confidence came from consumers’ future expectations.”
Realtor A had a listing, a buyer, and a bona fide offer two weeks after the listing expired. The seller had re-listed by then, but A contacted the seller directly, went to closing and earned the full commission. How can the new did-nothing listing agent file a Code of Ethics complaint?
Sales associates and broker associates can practice real estate (and be paid) as individuals, or, if they follow the correct path, as a business entity. Here’s the route they must follow if they want to form a business entity.
Big mistakes are often the easiest to make, and Florida Realtors Legal Hotline has had a number of calls recently asking what happens if a contract box is checked saying a rider is attached but there is, in fact, no rider attached.
A “rec lease” occurs when recreational facility ownership is separate and not under a condo association’s control. Over the years, many boards took over these facilities – but not all.
Realtor leaders also traveled to Tallahassee Wednesday to testify before state lawmakers on the critical need for maximum funding of Fla.’s housing trust funds, urging them to vote no on House Bill 5401 and its companion bill, Senate Proposed Bill 2512.
This year’s Leadership Academy participants will learn how to be future committee chairs, Realtor association officers and community leaders.
There aren’t enough homes listed, marking the second monthly decline in a row. Only upper-end houses had more pending home-sale contracts, says NAR economist.
A bridge loan gives homeowners the freedom to close on another home even if they don’t yet have down payment funds from the sale of their current home.
Most common taxpayer mistakes? Missing a tax break, providing incorrect bank information or accruing penalties for failing to file on time.
In a quarterly report to Congress, HUD said it has no “near term” plans to change FHA mortgage insurance premiums, citing delinquencies and its “duty to manage risks.”
It’s the highest level since the pandemic began, with a notable uptick in interest for big-ticket items. Of note: The component measuring current conditions improved significantly, suggesting the economy will continue to expand at least until summer.
Pandemic-era demand has risen for pools and hot tubs. Zillow says “pool” was last year’s most common search term, and pool homes tend to get about 1% more than expected.
The “What will happen after the pandemic?” question continues to be debated, but many companies seem to be focusing on a hybrid work-from-home system.
NAR survey: For 3 out of 5 Realtors, self-initiative drove them into real estate. Of residential Realtors, 21% made more than $100K in 2020; 66% for commercial Realtors.
S&P CoreLogic Case-Shiller: Prices rose 11.1% year-to-year in Jan., the biggest gain since March 2014. Prices rose in all 20 cities included in the report.
The agencies say they’ll make sure landlords comply with the law, in part by “monitoring consumer complaints for spikes and trends in potential COVID-related violations.”
Gov. DeSantis quickly signed SB 72 after the Florida Legislature passed it, giving Fla. businesses new protection against lawsuits filed over COVID-19 claims. Florida Realtors supported the change to help brokers and clients avoid unknown legal risks.
Florida Realtors economist: Buyers and sellers need Realtors for their buying and selling journey. Opportunities exist via connections to past clients and new-home buyers.
The ban was slated to end on Wed., but with 18.4% of tenants behind in rent payments, the CDC decided evictions remain a health hazard.
New appliances ranked second, followed by décor, and home improvement tools and products likely needed for do-it-yourself projects.
An 80% year-to-year increase in lumber prices hurts buyers, but it’s also starting to put some builders in a precarious situation due to construction delays and higher costs.
Received an email asking Realtor members to help “Rory” pay his hospital bills? It’s a scam. It’s not from Florida Realtors and Rory isn’t real.
Along with Florida Realtors, environmental groups oppose changes to the housing trust funds, saying attainable homes are “an essential element of a sustainable community.”
Savvy agents once impressed sellers with the things they could do digitally, from marketing to closing. But thanks to the pandemic, clients now expect digital services.
Median-wage geriatric nurses, cardiac technicians and long-haul truck drivers can afford only a modest two-bedroom apartment in more than 50% of the regions analyzed.
Brokers and other smaller U.S. businesses struggling due to the pandemic now have an additional two months to apply for a Paycheck Protection Program (PPP) loan.
While sellers likely won’t go through a foreclosure crisis as they did during the Great Recession, RBC Capital Markets’ Mike Dahl predicts an “affordability crisis,” where rising home prices and interest rates make homeownership unaffordable for the average American homebuyer.
Along with Florida Realtors, environmental groups oppose changes to the housing trust funds, saying attainable homes are “an essential element of a sustainable community.”
Service members moving to a new area often ask current residents to recommend a local Realtor, but this group has unique needs they expect their agent to understand.
Condo sales have spiked thanks to a steady influx of new residents, an ultra-tight inventory of single-family homes and more optimistic attitudes due to the vaccine.
Some owners expand or change floor plans to create dedicated home offices or increase functionality. The remodeling industry may see a 10.7% sales growth in 2021.
Also: If a condo association changes rules, grandfathering protects residents – but that grandfather benefit can disappear if the protected item changes slightly.
That’s up from 3.09% last week – a year ago, it was 3.5%. While rising, rates are still near historic lows as the Fed keeps interest rates near zero for now.
Study: Younger adults have the same hopes and dreams as older adults. While homeownership is a smart financial investment, it’s not always the top reason people buy a home. Millennials want to be part of a community and neighborhood, and have a place their family can call home.
Fla.’s House speaker and Senate president proposed a permanent two-thirds decrease in the state’s affordable housing trust funds. Florida Realtors immediately objected.
Vacancies, deterioration, racism and discrimination are tied together, says NAR partner. Its six-part webinar series will explore the problem and discuss solutions.
An idea proposed in Calif.: The government buys at-risk coastal homes, rents them out, makes money over time, and then razes them if/when they’re no longer habitable.
Florida Realtors economist: The most often discussed form of stimulus from the government? Direct payments to qualifying Americans. But low interest rates offer another form of stimulus for homeowners who are able to refinance.
The broad goal to landing a listing? First, get the seller to like and trust you. Be knowledgeable about the current real estate market as well as their specific property.
The Federal Reserve is studying the benefits of digital dollars, but the chair says is too volatile and “essentially a substitute for gold rather than for the dollar.”
A husband signed the rental-property deeds over to his ex-wife, but the mortgage is still in both of their names. How does he get those switched over to her?
An Oklahoma agent attached wires to willing buyers and found that their top-of-mind thoughts often don’t match how they really feel about a home.
It’s the slowest pace since May 2020, and largely blamed on severe winter weather across much of the U.S. and a lack of supply.
Many buyers determine what they can afford and look for a home there. But upscale buyers have a “sweet spot.” Many pick a size based on future costs and overall hassle.
It’s an unusual situation, but heavy U.S. job losses boosted the number of new agents; at the same time, the number of for-sale properties hit record lows.
New-home market problems aren’t new – rising prices for supplies and a tight workforce. But pending sales continue to be high, and many builders are pausing to complete a backlog of projects. In top-listed Jacksonville, pending new-home sales are up 80.5% year-to-year.
Survey: In Nov. 2020, 71% of renters worried about making their monthly payment. But things are getting better: In Feb. 2021, it dropped to 63%.
Direct referrals from past clients and others is the No. 1 way to get new business, but in a 2020 study, 44% of agents surveyed got at least one client via social media.
The new national focus on discrimination convinced some businesses to take assertive, tangible steps to boost housing equality, such as creating new company policies.
In a strong statement, NAR Pres. says the current commission structure “ensures greater equity and equality for first-time, low-income, and many other homebuyers.”
Feb. existing home sales fell 6.6% month-to-month, but they were up 9.1% year-to-year. Median prices, however, rose 15.8% higher when compared to Feb. 2020.
Florida Realtors’ data: Single-family home sales rose 15.7% year-over-year, median sales price up 16.6%; condo sales up 28.7%, median price up 16.6%. Chief Economist O’Connor: Fewer new listings and a tight inventory means a strong seller’s market.
A bill passed by the U.S. House could affect Realtors who are independent contractors, but NAR says it’s working with senators to include a Realtor exception in the bill.
Survey: 2 out of 5 (38%) buyers say they rejected a listing because it didn’t feel quite right – and 50% would blow their budget for one that felt lucky.
While lumber costs deserve a lot of the blame for the rising price of new homes, other things – crude oil (paint), drywall, ceramic tile – are also more expensive.
Pandemic relocation numbers aren’t out yet, but agents across Fla. report a higher number of new clients are Californians looking for a less expensive lifestyle.
The 2020 real estate market wasn’t ideal for home flippers who buy homes, fix them up and resell. ATTOM’s 2020 report found that fewer home flips were funded by fewer mortgages. And while gross profits went higher, profit margins dipped for the third straight year.
While the pandemic hit the hospitality industry hard, it expects a big rebound if newly vaccinated Americans over-compensate for vacations they lost out on in 2020.
Can a delinquent owner’s name be included in the minutes? Can a board ban recordings? Must board members’ names be recorded on how they voted?
Government-owned Fannie Mae and Freddie Mac must be reformed, yet if done badly, it could threaten the U.S. housing market and possibly make 30-year mortgages obsolete. But a Senate Banking Committee member issued “guiding principles” that have been backed by NAR.
Even with eviction and foreclosure bans in place, HUD’s 2020 report found an overall 2.2% increase in homelessness last year and no improvement for homeless veterans.
Rates broke the 3% barrier two weeks ago and have increased each week since, leading Freddie Mac’s chief economist to call buyer competition “a challenging reality.”
Faced with a strengthening economy, some observers expected the Fed to tighten the timeframe for interest rate hikes, but it stuck to 2023 after a meeting this week.
Homeowners with a mortgage – 62% of all U.S. owners – made an average $26,300 last year as equity skyrocketed. It’s the highest one-year equity increase since 2013.
About 40% of a new-home build can be completed in eight days or less with a (really big) 3D printer; it sells for a least 20% less than a comparable non-3D home.
The new 2021 Generational Trends Report found that one in five millennial buyers (20%) and boomers (22%) are unmarried. And Gen Z is now 2% of all buyers and growing.
Florida Realtors economist: Knock it out of the park through 2025. What can you do now to prepare for the buyers and sellers entering the market? Utilize digital tools, understand smart home features and attract remote workers to your market.
The uptick in interest rates increased buyer activism heading into the spring buying season, which probably won’t be a “season” since the market never slowed in 2020.
Starts hit a 14-year high in Dec. before seeing an unexpected drop (5.1%) in Jan. and then 10.3% in Feb. Building permits – a sign of future activity – also declined.
Any work change has major implications for commercial (where to invest) and residential (where to live) real estate, and new job ads suggest it’s a permanent trend.
Combine readily available data and you can market your services only to the local owners most likely to list a home soon. But most real estate agents don’t do that.
After April 1, Fannie and Freddie will buy fewer second-home mortgages. That increases lenders’ risks and will likely translate into higher fees and/or interest rates.
March confidence remained strong for buyer traffic, but late deliveries coupled with higher prices, notably for lumber, bumped builders’ confidence index down 2 points.
Will Fla.-owned Citizens Insurance rates go up an average 7.3%? Fla. regulators questioned Citizens officials Monday and are analyzing the request.
First-timers may have more flexibility than buyers who must sell a home first, plus access to more financing options like grants or down payment assistance.
National flood insurance will undergo a seismic change for homebuyers on Oct. 1, 2021, and for existing homeowners on April 1, 2022. Under “Risk Rating 2.0,” policy rates will be individualized based on a specific home rather than a general blanket rate based on flood zones.
Cast a vote every day this week to help one of our own become the 2021 Web Choice Award winner to be featured in the May/June issue of NAR’s REALTOR Magazine.
Many owners were underwater (owing more than their home’s value) during the Great Recession, in part due to cash-out refis, but it’s not a problem now – at least yet.
Once an established agent has a fair share of local customers, the next step is to advertise their services to the external buyers who are most likely to move in.
Are landlords leaving apartments empty and waiting for the eviction ban to end? They are in New York City, and lawmakers say the drop in supply is causing problems.
Study: Redlined neighborhoods – metro areas once relegated to Blacks or other minorities – are less appealing geographically than nearby white neighborhoods. But Fla. is the exception, where a home’s desirability is often based on proximity to the beach – an obviously high-risk flood area.
There are too many variables to make accurate predictions. How high will mortgage rates go? Will inflation return? Are homes overpriced – will buyers even care if so?
Is it illegal to discriminate based on applicant’s sexual orientation? Yes – but one year ago, the answer could have been yes, no or sometimes.
The Realtor marketing tool that generates reports for buyers and sellers has been completely redesigned based on member feedback, according to NAR.
Fla.’s Insurance Consumer Advocate created a new sharable educational resource to help homeowners identify fraud and avoid becoming a victim.
Pent-up demand, consumer savings and widespread vaccinations will spark broad commercial expansion this year, according to economists attending NAR’s Wed. webinar.
Fla.’s luxury market saw significant growth last year, but the number of people moving in was offset by more moving out, many of whom returned to their home state.
U.S. News & World Report ranked Fla. No. 10 this year as overall best state, up from 13 last year. Created via a survey of residents, the list covers 8 categories.
Many Americans will get a $1,400 stimulus check, unemployment at $300 per week runs to Sept. 6, and landlords can now tap into a bigger pot of money. Plus child tax credits – $300-or-more paid weekly – could be enough for some rental families to decide it’s time to buy a home.
The time “springs forward” at 2 a.m. Sunday, but lawmakers still want Fla. to keep it year-round so visitors can enjoy an extra hour of evening daylight all winter.
Equifax, TransUnion and Experian will provide free credit reports weekly through April 20, 2022. Complaints about credit-scoring issues doubled during the pandemic.
Couples with a 2.7% mortgage may want to downsize after children leave yet find it cheaper to stay put. If so, it would further limit the tight home-sale inventory.
This week’s 3.05% for an average 30-year, fixed-rate mortgage is only slightly higher than last week’s 3.02%, but it’s the second week in a row to top the 3% mark.
FHFA extended mortgage-approval changes added during the pandemic – such as alternatives to appraisals and alternate methods to verify income and employment – through April 30. But the agency said that’s likely the last time it will do so, at least for some of the temporary easements.
A University of Chicago study found that property valued in the bottom 10% in a metro generally averaged an effective tax rate double of those in the top 10%.
A shortage of home appliances continues, and 90% of builders have trouble stocking new homes. Why? The pandemic spurred people to wash more often and stock up on food.
An analysis of 52 U.S. commercial markets identified the top 10 based on market strength, and the SW Fla. community is “holding up to the pandemic’s negative impact.”
Former Rep. Marcia Fudge will oversee the U.S. Department of Housing and Urban Development after a 66-34 confirmation vote Wed. in the U.S. Senate.
A Consumer Financial Protection Bureau interpretive rule says it won’t tolerate discrimination against the LGBTQ community, and lenders can’t discriminate based on applicants’ “actual or perceived nonconformity with traditional sex- or gender-based stereotypes.”
Tenants who don’t pay their water bill or power bill get it shut off, says one Orlando landlord. “But we are the one service they can get away with not paying for.”
More non-bank lenders approve mortgages via tech and math – a positive step, analysts say. But even then, dated info such as credit histories can still create problems.
Study: A mortgage tech company, Own Up, says women still face housing discrimination and received a lower mortgage rate than men in only one state: Alaska.
Florida Realtors economist: Florida cities are switching their economic-development focus. Instead of trying to attract companies, they’re putting a greater emphasis on attracting people as the “work from anywhere” trend continues to pick up steam.
Tech advances and lower costs are making battery and solar systems an attractive investment, marking “a turning point” for the commercial industry, one expert says.
Over 11M U.S. families are behind on rent or house payments, and landlords are struggling. CFPB study: 9% of renters and 28% of manufactured-home residents owe money.
Study: A mortgage tech company, Own Up, says women still face housing discrimination and received a lower mortgage rate than men in only one state: Alaska.
NAR warning: SentriLock customers are getting legit bills with fake “remit to” addresses. The lesson: Verify email addresses – look closely – before sending money.
Personal phone calls boost business and are emotionally satisfying. But one person is always ready to end a call first, and if it’s a client, it’s time to stop talking.
Federal aid for renters and their landlords is out there, but distribution is uneven ahead of a March 31 end to the eviction ban – though that could still be extended.
The Racism and the Economy series, sponsored by all 12 Federal Reserve Banks, examines structural racism. The March 1 conference focused on how racism, racial exclusion and predatory practices limited housing opportunities and wealth-building for communities of color.
The fertility rate hit its lowest point in 100 years and the share of buyers with children dropped to 33% from 58% in 1985. And that changes buyers’ housing preferences.
The change applies to independent contractors SBA called “disadvantaged” in its earlier calculation system that looked at net profits. Now gross income may be used.
A scammer – whether contacting via email, phone or text – needs to convince you he’s legit, and some are willing to show you official badges. But they’re not official.
In four Fla. cities considered, buyers with $2,500 monthly budgets would see the number of “homes I can afford” drop by about 1.5% compared to 2.75% interest rates.
A job can help homeowners in forbearance and allow renters to repay rent. In Jan., the U.S. added only 166K jobs, and Feb.’s robust 379K jobs exceeded expectations.
Lenders don’t always adhere to a contract’s timelines, and buyers offering a quick close in a bidding war may want to make sure their lender has their back.
Fed Chair Powell said Thursday that they had no plans to hike interest rates amid signs of an economic recovery. He expects inflation to accelerate but not cause a problem.
Cash carries weight during bidding wars, so Opendoor says it will back a mortgage-approved seller’s offer with cash to help give them an edge in a bidding competition.
Even top experts fumble on mortgage rate predictions because their rise and fall is based largely on investors’ attitudes, which can turn on a dime. Currently, investors fear possible inflation – the enemy of Treasury bonds. And as bond investment falls, mortgage rates (often) go up.
More Fla. homeowners are relying on the state’s “insurer of last resort.” Citizens says it’s financially sound for now thanks to investment income that has outpaced operating losses, but at the current rate, a future disaster will again force taxpayers to make up some of its expenses.
More Fla. homeowners are relying on the state’s “insurer of last resort.” Citizens says it’s financially sound for now thanks to investment income that has outpaced operating losses, but at the current rate, a future disaster will again force taxpayers to make up some of its expenses.
At an average 3.02% for a 30-year, fixed-rate mortgage, this week’s slightly higher rate carries psychological impact. One year ago, the average FRM was 3.29%.
The EPA said Fla. can oversee land permits and wetlands, only the third state to get that – but a lawsuit could derail that decision with big-money groups weighing in.
High buyer demand and slim housing inventories mean homeowners ready to sell now have more negotiating power. But those who sell may also need to buy their next home.
While the vaccine rollout and an unemployment-benefit drop signal better times ahead, it didn’t help much to boost attitudes in Feb., and all components saw a decline.
Chicago Realtors kicked off the month with a five-part series. “You’re not a leader if you’re not paving a path,” Rev. Courtney Clayton Jenkins told the virtual crowd.
Chicago Realtors kicked off the month with a five-part series. “You’re not a leader if you’re not paving a path,” Rev. Courtney Clayton Jenkins told the virtual crowd.
Fla. lawmakers generally agree that businesses need legal protection from frivolous lawsuits, but they differ in some of the details. Florida Realtors supports a change.
A video is more memorable than written words – and better at maximizing new client acquisition. Always ask yourself: “Will this help me get or retain clients?”
Florida Realtors economist: Investors are following renters into the suburban spillover markets. Strong demographics, population growth and an expected recovery in hospitality pulled the Tampa- St. Pete, Miami and Orlando markets into the top 20.
Fla.’s unemployment website failed last spring, frustrating some Realtors who watched deals collapse. The Legislature is looking at ways to fix it, but it won’t be cheap.
Frustrated homebuyers often drop contingencies or break their budget to secure a listing. But other variables could give them an edge in a seller’s market.
In 2018, 31% of first-time buyers got an FHA loan; in 2020, it was 29%; In Jan., it was 24%. Newer 3%-down conventional loans may be part of the reason.
The House-passed bill is now in the Senate, and NAR expects most major provisions to pass. The latest stimulus includes aid for state and local governments, new homeowners’ assistance funds, small-business grants, rental-assistance funding, expanded unemployment and more.
Industry-changing ideas start as a suggestion proposed during a Florida Realtors committee meeting. Be part of the change. Apply to serve with Pres. Christina Pappas in 2022.
A federal judge ruled the eviction ban is unconstitutional and has never been done before – but he didn’t issue an injunction stopping it, and DOJ says it will appeal.
Brokers are getting more calls from out-of-staters, and the demand isn’t limited to Fla.’s traditional feeder markets. It adds yet another challenge for local buyers.
An app debuting in June seems to be a mashup between crowdfunding, dating and short-term rental investing. Users can invest in property worldwide using only a smartphone.
Some conditions make Zoom meetings more tiring than face-to-face meetings: Lack of mobility, added work to read nonverbal cues and way too much up-close eye contact.
As the short-term rentals gain more notoriety, an uptick in homebuyers, notably retirees, have put “an area than bans Airbnbs” on their list of desired features.
Study: Homeowners gained $3.1T in equity last year, prices rose at a rate not seen since 2013, inventory dropped by 24% and 58% of buyers faced a bidding war.
Overall residential spending increased 2.5%, boosted in part by higher demand for outer-urban areas where builders have more land to develop.
Housing construction prices have gone up, and a builder cancelled a pre-order because the buyer missed an intermediary deposit deadline. Can they do that?
What will you find as new listings come into the market? Privacy and group spaces were a general priority, with an uptick in demand for nicer seating and fireplaces.
The House floated “a suite of bills” to address climate change, including a tax break for owners who elevate homes and money for local governments that create programs. Gov. DeSantis proposed changes earlier, but many differences must now be worked out.
Expect a rosier economy in 2021 as COVID-19 cases drop, business restrictions loosen and stimulus aid juices growth. But many still struggle due to pandemic issues.
Landlords have strategies to help negotiate tenants’ rent relief, but they need to know what’s behind the request. Is it a delayed reaction to COVID-19’s impact?
RE Q&A: First step? Check the lease agreement. Most residential leases require a new agreement to be signed each year, and don’t allow the annual lease to be renewed.
Study: 44% of real estate agents said posting on social media resulted in a new client in 2020; 82% said their 2021 growth strategy is to “improve their social media.”
NAR: 47% of home buyers said student loan debt was the biggest obstacle to down payment savings; 43% said high rent or mortgages; 36% cited credit card debt.
Anyone flying back to Canada must stay in a government-approved hotel at their expense for 3 days to wait for the results of a now-mandatory COVID-19 test. Those driving back must show evidence of a negative test result at the U.S.-Canadian border.
Could others do the same? Builders cite rising lumber prices, closed building material factories and a worker shortage for construction costs up 20% or more.
Homeowners with mortgages held by Fannie Mae or Freddie Mac cannot be evicted through June 30, nor can renters in buildings acquired by the lending giants. Forbearance was also extended for three additional months, allowing some owners to skip mortgage payments for a total of 18 months.
It depends. Average cost of a new home in Dec. was $302.8K; it was $309.8K for an existing home. But factors like location, custom options and lumber costs affect prices.
If 97% of recent homebuyers used the internet, then digital curb appeal – how good a listing looks online and in the listing preview from a search – is vital.
While down a bit compared to Dec., pending sales hit a Jan. record high. The South region, which includes Fla., was the sole area to see a modest month-to-month rise.
Rising rates say good things about the U.S. economy, but it’s not great news for homebuyers. Still, most experts predict something a bit above 3% for most of 2021.
A member listed a house in “mint condition,” but to the seller’s surprise, the buyer’s inspector found roof problems. The result: A “busybody” agent not involved in the transaction filed an ethics complaint. Can he do that? Does she need a lawyer? Could her license be revoked?
Mom didn’t qualify for a mortgage and her daughter agreed to help by co-signing the deed and the loan. But Mom stumbled financially and won’t leave. Now what?
A number of changes – lines for association information, wording changes, references and a new rider for the Vacant Land Contract – will go into effect on Tuesday, March 9.
From NAR to DBPR, the real estate industry is riddled with acronyms for different organizations. It can be challenging to separate the specific products and services each organization provides – and to understand how those interlocking products relate to each other.
Some homeowners jumped into today’s hot sellers’ market, fielded multiple offers, got top dollar and signed contracts within 48 hours. At the time, they may have considered their next home selection “a bridge we’ll cross when we come to it.” But sometimes there’s no bridge.
A Supreme Court ruling that sex discrimination includes LGBTQ now applies to housing – and the Fla. Commission on Human Relations says it will investigate complaints.
A condo unit’s water heater burst and the flooding damaged other neighbor’s units. It’s an insurable situation, but which insurance policy applies? It’s complicated.
Florida Realtors economist: A lesson learned during the pandemic: Remote workers who aren’t tied to a specific location can search for housing values located anywhere. And with flexibility, it’s still possible to find a 3-bed, 2-bath Fla. home for $300,000 or less.
People spent big money on their homes last year. Lowe’s extended its sales streak through Christmas, and Home Depot’s 4Q profits almost doubled year-to-year.
Some of 2021’s hottest new looks reflect 1970’s taste, including natural wood finishes and seamless cabinetry without any hardware.
Sales came in at 923K – much higher than the 842K economists expected even after revising Dec. numbers. That increase is also 19.3% higher than sales in Jan. 2020.
If consumer spending drives the economy, a rebound in confidence reflected in the Feb. and Jan. reports suggests a slow emergence from the darkest days of the pandemic. Consumers’ attitudes about their current finances rose for the first time in three months.
LendingTree compared Black homeownership rates relative to their share of a metro’s population. In Fla., the biggest gap was in Jacksonville, the smallest in Orlando.
It’s a competitive and scary market for first-time buyers due to fewer listings, rising median prices, widespread use of tech tools and buy-it-now pressure.
An online bio sells you, and several additions can boost your appeal – such as publication credits, blogs, podcasts, video content and Realtor offices held.
While a lifeline to struggling businesses, PPP loans also created confusion – but new easy-to-understand guidelines cover applying, second-draw loans and PPP forgiveness.
Fueled by low interest rates and high buyer demand, home prices surged 10.1% higher year-to-year in Dec., according to the Case-Shiller 20-city home price index.
A Zephyrhills listing got national attention after promoting it as a fixer-upper rather than tear down. “The roof leaks, the floor creaks and there’s a terrible draft.”
Three new types of software can help buyers estimate repair costs and flood insurance costs before purchasing, and buy a home while still saving for a down payment.
Developers have almost exclusive control over a homeowners association until turnover, and some owners preparing to take over their HOA ask for transfer advice.
Over the next decade, expect more clients to ask about a home or building’s ventilation and clean-air systems that mitigate pollution and remove germs in the air.
The firm responsible for flood-risk estimates on realtor.com concluded that many current flood policies don’t charge enough to cover actual risk. Their data could become even more important in 7 months when FEMA starts quoting individualized prices for flood policies.
Report: The oldest millennials are turning 40 soon, but 58% couldn’t afford a home before they turned 30, and two out of three have no money toward a down payment.
Testimonials hold a lot of sway with customers seeking representation. Feature them on a webpage and add a link to them under email signatures and in home-sale ads.
Institutional investors opened up the single-family rental market during the Great Recession, but pension funds, builders and apartment managers are hopping on board.
A few Realtors received a “texting you now to kill/assassinate you,” saying a hitman wants you dead. The scare-scam isn’t new and might be targeting the general public.
Home sales rose 23.7% year-to-year in Jan., with the highest month-to-month increase (0.6%) since Oct. and second highest since 2006. Prices were up 14.1% year-to-year.
Florida Realtors’ data: Single-family home sales rose 18% year-over-year, median sales price up 15.1%; condo sales up 24.6%, median price up 15%. Chief Economist O’Connor: Closed sales in Jan. were “way, way above our historical average,” which is likely for most, if not all, of 2021.
Julie Brown will now oversee Florida’s Department of Business and Professional Regulation (DBPR) after Halsey Beshears announced he was resigning for health reasons.
Florida Realtors economist: Why should I list now? Show them why graphically based on 1) different home needs, 2) low mortgage rates and 3) equity potential. In 2020, over one-third of Fla. single-family home sellers cashed out and received their list price or more.
Brokers: Establish the online presence you want to project. It’s key to building a team through Instagram, so deciding on an image and social media strategy comes first.
The 30-year, fixed-rate mortgage averaged 2.81% compared to last week’s 2.73% – but economists still expect rates to hover around 3% for the rest of 2021.
Applications for building permits – considered a good sign of future activity – jumped 10.4% in Jan., elevating expectations for a strong 2021 housing market.
Credit scores hit a record high, and one analyst calls that “bizarre.” But many employed Americans used stimulus checks and commute-money savings to pay down debt.
Florida Realtors economist: Why should I list now? Show them why graphically based on 1) different home needs, 2) low mortgage rates and 3) equity potential. In 2020, over one-third of Fla. single-family home sellers cashed out and received their list price or more.
A monthly seller-sentiment index recorded a notable spike in the number of homeowners who think it’s a good time to sell – a possible sign of more future listings.
4 Fla. counties made the top 25 for increased risk of landlord default, mostly due to an eviction ban that made it harder for some owners to pay the property’s mortgage.
The integrated media mix – video, audio, content partners and social media – presents Realtors as trusted allies along an often emotional home-buying journey.
Despite a recent criticism of fast-rising lumber prices, builders’ confidence in Feb. rose one point to 84, a near-record high with 50 considered neither good nor bad.
A range of investors are putting money into affordable housing projects for many reasons. Some want to keep rents low, but others plan to renovate and raise rents.
A bill that limits COVID-19-related business liability issues can now go before the full House for a vote once the session begins – a priority issue for Florida Realtors.
The study found a gap between Black and white homeownership rates of about 30% (60.8% for whites, 42% for Blacks). Blacks are rejected for mortgages 2.5 times more than whites (10% vs. 4%) and carry higher student loan debt (43% vs. 21% for whites). NAR calls for policy changes.
As the cost of living rises in six South Fla. counties, some residents move north to find affordable housing – but data suggests the pace of that exodus is slowing.
Strong marketing videos take a bit more than hitting a “record” button. Don’t start with self-promotion. The first few minutes should focus only on your customer.
The state association’s booth at Enterprise Florida’s virtual trade expo on March 16-18 will showcase members’ global expertise. Foreign attendees who want to know more about Florida Realtors and the state can connect with Realtors who speak Arabic, German, Spanish and more.
Sellers checking their home’s Zillow listing will see a home-purchase quote, part of Zillow Offers, which the company says made about $20K profit per home in 4Q 2020.
The spring housing market unofficially began over Presidents Day weekend, and NAHB reports that 40% of potential buyers say they’ve been outbid at least once.
Pres. Biden signed an Executive Order extending forbearances and banning foreclosures until June 30. However, he did not make changes to the eviction ban ending March 31.
Over a year ago, “our board directed us to develop a solution to address the growing lack of choice in this technology sector, given the natural fit with our current lockbox business,” says Scott Fisher, founder and CEO of SentriLock, a wholly owned NAR subsidiary.
Builders want a Commerce Dept. investigation to find out why lumber production is so low – and they say new-home appraisers fail to factor it into their valuations.
Smart buyers compare mortgage rates from multiple lenders, but the APR (annual percentage rate, which includes fees) is a better gauge of costs over time.
Also: A board wants to fine an owner $10,000 for violating the governing documents, which seems like a lot. Does any law or rule cap the amount of fines?
An annual Love and Money survey found that couples talked more about money during the shutdown, but many conversations focused on delaying a home purchase.
Over a year ago, “our board directed us to develop a solution to address the growing lack of choice in this technology sector, given the natural fit with our current lockbox business,” says Scott Fisher, founder and CEO of SentriLock, a wholly owned NAR subsidiary.
Rocked by stay-at-home orders and facing a tight home inventory, a few people snapped up houses without fully considering options. Now some have buyer’s remorse.
An analysis finds that the $25B allocated to pay back rent isn’t enough, and the federal distribution plan favors smaller states on an amount-per-capita basis.
Builders picked a lakeside 1973 home as their “2021 New American Remodel.” In a major redo, the home gained higher ceilings and grew 1,400 square feet.
Florida TaxWatch: Since 2010, Fla. voters have voluntarily passed 142 local tax referenda and new bond issues, often increasing their own sales taxes or property taxes.
How – and who – should oversee Fla. vacation rentals? The Florida Legislature has debated the topic for years, and it’s still a high priority issue for Florida Realtors. This year’s version would make Airbnb collect taxes, remit them to the state, ensure proper licensing and more.
Two white and one Asian American filed the lawsuit saying they’ve been denied the chance to live in a racially integrated community in Detroit’s Islandview rentals.
ATTOM: In Jan. 2021, Fla. foreclosures were down 83% year-to-year, in part due to the foreclosure moratorium, which “doesn’t reflect market reality.”
HUD now considers sexual orientation and gender identity to be protected classes under the Fair Housing Act, calling its change “the correct reading of the law.”
Of those metros, 88% (161 areas) saw double-digit price increases. Two Fla. metros were among the 10 highest price gainers: Naples at 29.9% and Crestview at 28.6%.
The 30-year, fixed-rate mortgage averaged 2.73% this week, just as it did the previous two weeks. But one year ago, the FRM averaged 3.47%.
Take a lot of the “you” out of your home office space, like college memorabilia and other personal items so buyers can see themselves using it.
Florida Realtors’ latest data: Single-family home sales in 2020 up 5.8% year-over-year, median price at $290K up 9.6%. Condo-townhouse sales up 2.5%, median price at $215K, up 12% from 2019. Chief Economist O’Connor: “Sales of Florida homes in the 4Q were very strong.”
ShowingTime has a working relationship with hundreds of MLSs across North America, with a network that includes almost a million real estate agents.
On “The Office,” Michael Scott awarded “Dundees” to everyone. While his execution failed, the idea is sound. Awards build loyalty, honor sales and promote retention.
NAREB says that 6% of real estate agents are Black, and a program sponsored by HomeLight will support and encourage new Black agents to enter the business.
Redfin economists analyzed 220K sales in 26 metros over a 13-year period. In most suburbs (18 of the 26) they found no appreciable price difference after affordable housing was built – and in four metros, local prices actually rose higher. But it also lowered prices in four metros.
At-risk homeowners can now postpone mortgage payments (via forbearance) for 15 months. Foreclosure and REO-related eviction bans run until March 31.
55place.com listed the most affordable retirement towns in the U.S., and 5 Fla. metros made the top 10, including No. 1 Boynton Beach and No. 2 Sarasota.
NAHB 2021 forecast: Expect strong demand and sales – but regulatory and supply-side cost challenges could slow momentum, limit growth and hurt affordable housing.
Homeowners trying to cut costs often focus on property insurance and cutting back will save money. But if something happens, they’ll regret it.
Also: Can associations lend money to each other and charge interest? And how did emergency powers affect board elections?
20 years ago, important info demanded a phone call – but more people now think texts are for important messages because phone calls are easier to forget or ignore.
It takes planning for long-term success and eventual retirement, and a straightforward set of guidelines can keep independent contractors on track.
An analysis of Optimal Blue data for mortgage applications found an 84% year-to-year growth in second-home loans – more than double the increase for primary homes.
According to a new study, “runaway litigation costs” threaten Fla. insurance market stability. In 2016, Fla. property insurers faced 27K lawsuits; in the first 10 months of 2020, it rose to 60K. An average $800 in each Fla. property insurance premium pays for litigation costs.
The NAHB/Wells Fargo index found that lower interest rates offset rising home prices in the latest quarter – but that will change if mortgage rates start to rise.
Even discussions about emotional support animals get emotional, but one thing remains true: No-pet rules don’t matter for legitimate emotional-support animal claims. But Fla. owners now have more ways to deal with people who stretch the truth about a pet’s emotional-support status.
Some city dwellers who left during the pandemic brought the city with them, causing a few suburbanites to say their new neighbors are noisy and seemingly awake 24/7.
Millionacres, a Motley Fool service, surveyed readers to determine their 2021 investment expectations. Medical topped the list, followed by industrial and self-storage.
More Central Fla. homeowners are opting for the state-owned “insurer of last resort,” and more people who considered it a S. Fla. problem are starting to ask questions.
With lots of how-to marketing advice, it’s easy to miss one important detail: You must have truly good content plus demand from people who want that information.
Some analysts say with a financial crisis unlikely to occur and high home equity, only a buyer drop or huge uptick in sellers could spark a crisis despite rising prices.
In the early days of lockdowns, most people moved to secure more space. By fall, relocators were more likely to cite financial stress as their primary reason.
Social media isn’t about the next customer so much as all future customers. Lay the groundwork for future success by being helpful, personable and approachable.
The National Guard has been more active during COVID-19, and those who’ve served 90 days, and some others, may now be eligible for no-down-payment mortgage loans.
A realtor.com report finds that active site listings for Fla. metro areas are down as much as 56% year-to-year in Jacksonville, 53% around Tampa and 31% in Central Fla.
A federal judge dismissed the case, saying NAR’s Clear Cooperation Policy, which limits pocket listings, isn’t an antitrust issue. PLS.com, a pocket-listing service, alleges that NAR designed a stricter pocket-listing policy to damage its business model and discourage listings.
Rates for 30-year, fixed-rate mortgages hovered near record lows again this week. Freddie Mac’s chief economist encouraged lower-income homeowners to refinance.
At Wed.’s 2021 Florida Real Estate Trends, NAHB Economist Dr. Robert Dietz called 2020 “a surprise year for growth,” and he along with other presenters generally agreed that the strong market will continue into spring, held back only by the need for more newly built homes.
In a search for home office space, some people have opened doors, pushing clothes and boxes aside to turn one of their closets into a small office.
RE Q&A: Two out of six children want to buy the property, and one sibling has since died. Who gets money? Does a share go into the deceased brother’s estate?
However, the ownership rate for Blacks fell. The overall rate rose to 65.8% in the fourth quarter, but it’s 74.5% for white Americans and 44.1% for Black Americans.
A study comparing listings to Airbnb properties found short-term rentals can boost property values in high-rent areas – slightly less if there’s high owner-occupancy.
In 2010, owners stayed for 8.7 years; in 2020, it was 13 years. Pandemic worries, fear of a competitive market and ultra-low loan rates convinced many to hunker down.
Also: A condo board member purchases units at foreclosure sales – but that’s not allowed, right? And are front-gate employees allowed to photocopy license plates?
Vacationers see private home rentals as a safer pandemic option, and demand has gone up. Fla. ranks second after Calif. with 154K listings and an occupancy rate of 55%.
Get ready for your close-up. Thanks to social distancing and Zoom meetings, buyers and sellers online expect to see faces telling stories.
Study: 47% of first-time buyers found that their budget allowed them to afford a larger house than they thought they could afford – but 21% had to lower expectations.
Florida Realtors economist: Marketing to out-of-staters and wondering which demographic group to target? The most-cited reason for moving to Florida is retirement (39%), but many others come for the jobs (23%), the lifestyle (21%) and family (17%).
The average delinquent renter currently owes about $5,600 – including utilities and late fees – or about four months of missed payments, according to the analysis.
ATTOM: In 2020, the average seller made $68,843 on the sale last year, a notable two-year increase compared to the $48,500 they made in 2018.
Sadowski Coalition: For every dollar spent on affordable housing, “there’s a 40% return on investment (for Fla.), in addition to producing desperately needed housing.”
A Trump Administration plan that would have allowed associations to offer health insurance to members, including independent contractors, has stalled. The Biden Administration now prefers increased access to Affordable Care Act (ACA) coverage.
The biggest optimism spike focused on current financial situations, which rose 4.7 index points, from 68.3 to 73.0. Overall, 3 components went up and 2 went down.
Also: A condo owner parks two cars in a short driveway, and the back of one juts into the main road. He claims it’s due to a disability. Must the association allow this?
A Dec. law had $25B for landlords hurt by non-paying tenants during the eviction ban, and the coalition wants the government to prioritize that rent relief for landlords.
The chair of Fla.-owned Citizens Prop. Ins. floated an idea: Rather than sell policies through independent agents, use in-house agents that deal directly with homeowners.
The last COVID-19 stimulus has provisions that impact commercial leases. Some new underpinnings of bankruptcy law were changed to help businesses in trouble.
The U.S. Centers for Disease Control and Prevention (CDC) officially moved the ban on foreclosures and evictions to March 31. However, further extensions could be considered by lawmakers in a new pandemic stimulus bill being negotiated by Pres. Biden and Congress.
An occasional, “This is interesting – think I’ll post it,” won’t work. Postings should be scheduled, intentional and analyzed.
Between working at home and kids learning from home, many Americans are hoping for tax breaks this year. However, like most tax matters, it’s complicated.
Of four regions studied, only Midwest pending sales dropped, but it was enough to impact the entire index. Year-to-year, pending sales were up by double-digits (21%).
To determine the best state for retirement, WalletHub weighed 45 variables, such as affordability, quality of life and healthcare – and Fla. was, and is, No. 1.
Fla.’s governor wants the Legislature to approve $25M next year for a “Resilient Florida” program that addresses coastal flooding and other climate change issues.
Florida Realtors economist: The state has attracted new residents for years, and updated migration data by moving van lines show, once again, that in 2020 more people headed south in order to call Florida “home.”
A nationwide 5G network will create super-fast internet connections, but to deliver it, companies install boxes the size of a chest freezer in front of some homes.
Pres. Biden campaigned on a new $15K credit to help first-time buyers. It doesn’t exist yet, but lawmakers will probably consider it eventually. If passed, it would likely work like the credit from 2008-2010, with a heavy spike in demand followed by a drop-off after the program ends.
Chairman Powell said the U.S. is “a long way from full recovery,” and the Fed will keep pursuing low-interest rate policies until an economic rebound is well under way.
New-home sales in the U.S. rose 1.6% last month following a Nov. drop that was worse than originally reported – a decline of 12.6% compared to Oct.
The average 30-year, fixed-rate mortgage dropped from last week’s 2.77%. A Freddie Mac economist attributes it to a new administration and COVID-19 “malaise.”
Study: Assuming 5% down, adults in two Fla. metros could save enough in one year to buy a house if they A) move back home, and B) save all the unneeded rent money.
Training and promoting leaders can lead to brokerage and team success – and even real estate industry success. An Agent Leadership Council may be a good way to start.
The Fla.-owned property insurer’s board approved an average 7.2% rate increase – but it also wants to charge new policyholders a full actuarial rate. It’s unclear if Fla. officials will approve Citizens’ proposal, but any new-policyholder increase could affect some property sales.
Biden summarizes the history of U.S. housing discrimination, promises a focus on solving problems, and asks HUD to study two recent regulations that may be repealed.
Fla. students may now apply for 2021-22 Education Foundation scholarships. To date, Florida Realtors has awarded $1,739,400 in scholarships to 1,189 students.
The comment period has ended for a proposal that would allow FHA to accept private flood insurance. NAR strongly backed the change and urges immediate adoption.
A condo complex reserves funds every year to repaint buildings every seven – but it’s time to paint and the money falls short. Can they use other money for painting?
Urban Institute: Virtually all household growth (new households minus leaving households) over the next 20 years will be either Hispanic, Black or Asian.
Realtor volunteers can receive $1,000 grants to boost their project and mentoring to help extend their community outreach. Deadline for applications: Feb. 28, 2021.
Almost every internet photo this week featured a cold Bernie Sanders with knitted mittens, and a Vermont Realtor who placed Sanders on a porch watched the listing go viral.
The Fla.-operated insurer wanted a 3.7% increase last month but was pressured to request more to make Citizens less desirable than policies offered by private insurers.
Americans think current conditions aren’t great – but they’ll get better. The overall index rose more than 2 points but a future expectations index rose 5.5 points. It also had positive housing news, suggesting “the pace of home sales should remain robust in early 2021.”
S&P CoreLogic Case-Shiller: Buyer demand pushed Nov. prices 9.1% higher year-to-year – the biggest increase since May 2014. For 2020, price increases hit a 14-year high.
Chief Economist Brad O’Connor, NAHB Chief Economist Robert Dietz and others will discuss residential outlook, new-home construction trends, more at Feb. 4 virtual event.
An analysis by Pew Charitable Trusts: 16 states’ populations have declined since the Great Recession, but the big winners are Texas (up 374K) and Fla. (up 241K).
Debt-to-income ratios became skewed for anyone who temporarily lost a percentage of income, and forbearance programs are giving lenders fits in the loan approval realm.
HUD Acting Secretary Matthew Ammon said he acted on Pres. Biden’s request, calling it “a critical first step” to ensure families “will not be forced from their homes.”
Pres. Biden considered homeownership an important issue during his campaign and has already instituted some changes. Congress will likely focus on housing-related pandemic aid first and, once the disease fades, turn to other issues, such as a proposed $15K new-buyer tax credit.
More than $15T will likely be inherited by Gen X and millennials before 2030. Like their parents, these buyers will also expect excellent above-and-beyond service.
Fla. Supreme Court: State-run Citizens Property Ins. doesn’t have to compensate a Brevard County apartment owner for rental income lost after hurricane-caused damage.
Immigrants under the Deferred Action for Childhood Arrivals (DACA) program who are legally allowed to work in the U.S. may also now qualify for an FHA loan.
Florida Realtors Dec. data: More closed sales (single-family sales up 21%, condo-townhouse sales up 27.7%), more new pending sales, higher median prices and more new listings year-over-year. Chief Economist O’Connor: Higher pending sales “strongly signal” higher closed sales in 2021.
U.S. buyers keep snatching up homes as soon as they hit the market. Dec. existing home sales rose 0.7%, and 2020 yearly sales were up 5.6% – the most since 2006.
Predictions can go spectacularly wrong, but a new focus on consumers could bolster lending rules (CFPB) and perhaps turn Fannie and Freddie into a “utility” (FHFA).
The highest offer tends to win a bidding war, but frustrated buyers hoping to increase their odds have made Harry Potter videos and offered sellers Academy Award tickets.
The state real estate board continues to have Realtor representation, including Patti Ketcham (Tallahassee), Renee Butler (Winter Haven) and Patti Fitzgerald (Jupiter).
The credit-score company created guidelines for people planning to finance a home, car or other loan. Homebuyers should start up to 24 months before shopping.
After last week’s notable increase in mortgage rates, the 30-year, fixed-rate mortgage dipped a bit as it continues to hover near all-time record lows.
Everyone benefits if brokers or team leaders encourage others to lead, and in-house events as simple as a book club can facilitate conversations and encourage growth.
According to top agents, 2021 stories will relate in some way to the pandemic, with the tight inventory of homes topping their list. Also: How will vaccinated sellers react? Will a lot decide to list their home this year after months of waiting? And how many homes will go into foreclosure?
The surge follows a 9.8% increase in Nov. Total housing starts for 2020 increased 7% compared to 2019, though builders voice concerns about “supply-side challenges.”
Stay-at-home buyers have a stronger interest in 3D online tours, and realtor.com says it added two new companies to its roster of acceptable providers.
Biden says he’ll immediately ask the CDC and FHFA to extend eviction and foreclosure moratoriums until March 31, giving Congress time to pass new pandemic relief.
“I have not seen any evidence that the trends we are seeing now are going to reverse,” Fla. Insurance Commission Altmaier says, referring to double-digit homeowners policy rate increases and a greater number of policies in Citizens, the state-owned “insurer of last resort.”
The RICO Act helps federal prosecutors fight organized crime, but two Fla. insurers think it will work against contractors who’ve attempted to defraud the companies.
The pandemic-inspired desire for a bigger and better home has boosted the number of kitchen remodels that emphasize a need for more storage space.
Builders are extremely confident in the new-home market – but a little less confident than they were last month. NAHB cites rising lumber prices as one of the reasons.
Between pandemics and politics, many Americans are emotionally exhausted. If you’re not one of them, a friend, family member or neighbor probably is.
Homeowners with mortgages held by Fannie Mae or Freddie Mac cannot be evicted until Feb. 28, 2021. The extension covers more than 50% of American owners with a mortgage.
A personal brand – “what people say about you when you’re not in the room” – is a digital age résumé. A strong brand almost literally drives new business your way.
If Congress passes the president-elect’s COVID-19 stimulus, the eviction moratorium will be extended to Sept. 30, but there will be an additional $25B to help landlords offset the cost of non-paying tenants – a total of $50B when combined with money in the latest stimulus package.
NAR’s president spoke at Martin Luther King’s Washington monument, reconfirming that NAR is committed to combating discrimination throughout real estate.
President-elect Biden once suggested a possible end to the commercial industry’s tax-investment tool, but it’s now helping businesses struggling due to the pandemic.
The money goes to rental assistance, emergency shelters and street outreach programs that connect unsheltered homeless people with local housing and essential services.
The U.S. Environmental Protection Agency shifted development approval for sites that include wetlands to the State of Florida, and developers praised the change, saying it cuts down lots of red tape. However, environmental groups have filed a lawsuit challenging EPA’s decision.
The pandemic’s social distancing rules seem ideal for iBuyers’ success, but in today’s sellers’ market, many homeowners think they’ll make more money listing in the MLS.
Lenders with less than $1B in assets debuted new PPP loans on Friday, an SBA push to help smaller programs. But large lenders start Tues., according to SBA and Treasury.
New technology often springs from demand, and a host of new home cleaning tools were introduced at the 2021 event – such as robots with ultraviolet light capabilities.
Fannie and Freddie oversight must change, and NAR strongly advocates a proposal it says will keep loan money flowing: Treat the two big lenders like they’re a utility.
At this point, lenders don’t know. Thanks to easy application terms, they’re not sure how many homeowners are at risk and how many took forbearance “just in case.” On Jan. 3, about 1 in 20 mortgage holders (5.5%) were in a forbearance program, according to mortgage bankers.
A Florida Realtors-supported concept – liability protection for COVID-19 claims if businesses “substantially” follow health guidelines – passed its first committee.
The 30-year, fixed-rate mortgage averaged 2.79% this week, a relatively large increase from last week’s record-low 2.65%. But one year ago, the rate averaged 3.65%.
John Burns Real Estate Consulting recognized the nation’s top 50 master-planned communities, saying more than 37,000 people moved to one of them in 2020.
There’s no single goal for scammers who copy pages and change a few details. Some hope to get personal information; others want victims’ rental deposit money.
Will rates keep going up? Maybe. Long-term bond yields are up, often a precursor for mortgage rates, as investors expect a recovery and more money to boost the economy.
A father cosigned a loan so his daughter could buy a house, but what happens if he passes away? Would her brother be able to take over their father’s portion of the home?
Revenue and expense management classes are the gift that keeps on giving. Agents who know how to keep an eye on the bottom line also maximize profits for their broker.
In areas with a lot of vacation and second homes, single-family construction rose 13.6% in the third quarter; in areas without second homes, it only rose 10.5%.
Thanks to TV, investors often think home flips are the main way to make money off of single-family homes, but a hold-and-rent-out purchase could be the better option.
Sen. Ray Rodrigues, R-Estero, filed a proposal to establish an Office of Resiliency that operates under Gov. Ron DeSantis, and a nine-member Sea-Level Rise Task Force to create baseline projections on expected sea-level rise and its flooding impact on Fla.’s coastlines.
Wall Street executives like Fla.’s warm weather and tax laws, and many of them relocated to Miami to ride out the pandemic. Now many of them don’t want to go back.
In 2 out of 3 U.S. markets, it’s cheaper to buy a home than rent – but the percentage is higher in Fla., and the study cited Tampa as one of the top markets for buying.
The pandemic will end slowly, and inventory will grow only if more sellers decide it’s safe to move, which could start slowly in the spring and expand by the fall.
Cities and counties with populations of 200K-plus will distribute their rental-assistance money to landlords and renters (about $550M), and Fla. will distribute the funds in all other areas (about $850M). The dollar amounts are estimates, and DeSantis expects funding “in the coming weeks.”
Appraisal policies may (or may not) change, but the industry’s federal oversight administration put out a request for comments about current home appraisal practices.
Routine isn’t bad, but it can stifle change as agents check off boxes in a daily routine. These 6 productivity tips can help brokers breathe new life into the business.
The number of listing price cuts flatlined Feb. to March at around 4% because some sellers expected a buyers’ market to appear – but they dropped to 2.9% in April.
Fannie and Freddie will no longer fund condo loans in high-rent vacation areas. Bankers say entire complexes, even with few rentals, may be ineligible for financing.
In a “watershed overhaul” of money laundering laws, all shell companies involved in U.S. transactions – real estate and others – must now identify the owners’ names.
It will probably take several more weeks for newly approved rental assistance to trickle down and cover tenants’ past-due rents. Fla. will likely receive about $1.4B. It’s not enough, but it should cover the past-due rent balances ($6,000 each) for more than 200K Fla. households.
A monthly survey for Dec. found market optimism dipping. It could be pandemic fatigue, a delay based on future vaccine hopes or frustration over a lack of inventory.
With record-low interest rates, more buyers can afford a home – or a better home. But they have to qualify for a mortgage first, and their credit score could be a problem.
Why focus on building an email list? People tend to open emails from people they trust – and turn to the sender for advice if they want to buy or sell a luxury home.
At 2.65%, the average 30-year, FRM hit its 17th record low in less than a year. But experts predict an increase soon as the “forces behind the drop” shift.
SBA and the Treasury Dept. are preparing to revive the PPP loan program. Businesses that already received a loan last year will be able to borrow up to $2 million soon if they have no more than 300 employees and suffered at least a 25% drop in quarterly revenue.
“It’s in the budget” doesn’t necessarily mean “the president can sign a contract.” Also: If we had no quorum for an election, do we have to reschedule this year?
If business is “all about relationships,” expressing gratitude is one of the building blocks. It’s not just a life tool Mom taught you, it’s also a marketing tool.
Lenders see little profit in making loans below $100K, so many entry level homes go to investors paying cash rather than renters hoping to become homeowners.
The private-property-rights issue took 15 years to settle, but some Lee County owners have received checks because the state cut down trees growing on their property.
Even before COVID-19, people wanted single-family homes for the space and privacy. Demand is even greater now, especially in suburbia; the trend is moving into Fla.
There’s no standard approach. Agencies have differing deadlines for different types of federally backed mortgages. The result: Lots of confusion for the servicers.
The pandemic pushed mortgage rates lower in 2020 and kept doing so this first week of 2021. The 30-year, fixed-rate is down from last week’s 2.67% and last year’s 3.64%.
The bills could be amended, but if passed and signed into law by Gov. DeSantis, they would provide Fla. businesses, schools and churches some protection from COVID-19 related lawsuits alleging damages, injuries or deaths – a concept supported by Florida Realtors.
The number of listings advertised in Dec. dipped below 700K as buyers remained active during the holiday season. The drop in 4 Fla. cities ranged from 20% to 50%.
The alliance operates independently as “the new amplified voice of nearly 79 million property owners across the country who want a say in Washington on critical issues.”
When asked about recent behavior “likely to continue for years to come,” homeowners listed “disinfection” first, along with tech use and backyard entertaining.
About 12M new households will form by 2028, though total home sales could be as high as 25M since some will replace older sellers leaving homeownership for good.
More than 15% of U.S. consumers have personally experienced housing discrimination in rentals or purchases, according to a Homes.com survey. And 30% know little about six main federal programs, such as Sec. 8 housing vouchers, FHA loans and civil rights protections.
A 70-year-old Omaha real estate agent appears to have been killed by a potential renter, Ross S. Lorello III, who police arrested based on evidence at the crime scene.
Malls were hurt by online sales before the pandemic, but a big drop of 2020 shoppers has led many observers to predict that more low-performing locations will close.
Mortgage giants Fannie Mae and Freddie Mac have marching orders to fund a set percentage of affordable homes, and those mandates won’t change in 2021, FHFA says.
According to an FTC antitrust lawsuit, the deal would “eliminate price and quality competition that benefits both renters and property managers.”
Home building offset weaknesses in other parts of the construction industry, and single-family home production rose 5.1% while apartment construction was flat.
Officials say website updates are underway. Under the latest law, PUA unemployment benefits were extended until April 5 for independent contractors and other claimants.
Central Fla. home values rise faster for homes located near an Aldi, but overall home values are higher for properties positioned near Whole Foods or Trader Joe’s.
A pandemic-caused push to relocate from cities to suburbs may have created an opportunity for suburbanites who prefer city living – a reason to make their move now.
Floridians expect good things for their personal finances one year from now and the U.S. economy over five years, but they’re pessimistic about 2021’s prospects. Record-high attitudes tanked when the pandemic hit but have been slowly moving higher since then.
How long will an economic rebound take once the nation moves past COVID-19? Many CEOs expect a strong bounce-back once Americans feel safe outside homes.
Many legal troubles start with phrases like “I didn’t realize that …” or “I didn’t read that part of the document.” To lower risk and avoid trouble, ask questions, read contracts, do research, take notes, record with cellphone photos and take an extra day to think about things.
A river doesn’t respect state boundaries, and a long-running dispute between Fla. and Georgia over the Apalachicola river system will be decided by the Supreme Court.
Wall Street Journal: “Hundreds of billions of dollars of office building value and mortgages depends on the timing and scale” and its impact on office leases and rents.
S. Fla. condo owners filed a lawsuit alleging their board deactivated key fobs and threatened arrest if they visited common areas after a positive COVID-19 diagnosis.
Business changed quickly in 2020, from “the sky is falling” to “we can’t keep up” in a matter of months. NAR editors picked the top advice articles for brokers.
After hitting a new record-low of 2.66% the week before, Freddie Mac said on Thursday that the average rate for a 30-year, fixed-rate mortgage bumped 0.01% higher.
It’s the third consecutive month-to-month declines for signed contracts, but in a year-to-year comparison, they were up 16.4% – and every division was up double digits.
The head analyst calls it “surprising strength,” noting that Oct. prices rose 8.4% year-to-year – even higher than Sept.’s surprising 7.0% increase.
Fla.’s residential and commercial markets have synergy: Changes in one impact the other. Florida Realtors’ economists will explore their business bond in a Feb. 4 webinar.
Report: Of the top 20 cities preferred by relocating Americans, 17 offer sunny, warm weather – and that list includes 5 Fla. metros from Tallahassee to Fort Myers.
After a short delay, the president signed a COVID relief package that offers financial help to landlords who cannot evict tenants during the pandemic, and $600 payments for many Americans. NAR posted updated info on how the rental-reimbursement program will work.
Realtors pay dues. They adhere to a Code of Ethics. They work together under local MLS rules. But you said in last month’s column that I must work with real estate licensees who aren’t part of the Realtor organization. Why in the world would I willingly do that?
Money isn’t always disbursed instantaneously at closing, and occasionally a seller wants to see closing proceeds in their bank account before they’ll hand over the keys. Is the seller allowed to do this? If not, what can the buyer do about it?
Fla. law says a condo association must maintain limited common elements; a declaration says it does not. Which one wins? Also: A condo board passed a rule that bans pit bulls, but a resident has had one for five years. Would the dog have to go if the board started enforcing the rule?
Print this. Stick it on the fridge. Read it weekly. Realtors often forget or ignore certain issues unless there’s a problem, and then they call Florida Realtors Legal Hotline. While attorneys are here to help, they spend a lot of time explaining these seven oft-asked questions.
Rental prices will probably stabilize in the first half of 2021, with possible dips in urban areas as more working-from-home renters move to the suburbs.
In an industry that relies on human contact, masks conceal expressions, muffle speech and create misunderstandings. But people can read a smile through your eyes.
While 2020 will forever be the year of the pandemic, real estate pros might also remember it as the year when mortgage rates kept dropping to all-new record lows.
An ongoing shortage of land, labor and materials pushed new-home sales lower than experts expected – but they were still 20.8% higher year-to-year.
It’s the fifth straight month home prices increased. “Extremely low mortgage rates and a limited supply of homes for sale continue to propel price gains.”
It’s hard to look at 2020 in a positive light, but the real estate industry was uniquely and unexpectedly a beacon of hope for a nation battered by the COVID-19 virus. Home sales boomed, mortgage rates repeatedly hit record lows and rising values bolstered homeowners’ equity.
Americans expect things from a 24/7 home that they don’t from an after-I-get-home-from-work home. Sterile, open-design trends seem to be quickly falling out of favor.
FHA borrowers can still get help to avoid an eviction or foreclosure. FHA will also maintain temporary policy flexibilities for lenders and servicers.
The pandemic relief bill has $25B for rental assistance that landlords can request on behalf of tenants. But the president must sign it and each state must distribute it.
Florida Realtors’ data: Single-family home sales are up 22.9% year-over-year, median sales price up 14.1%; condo sales up 30.2%, median price up 16.9%. Chief Economist O’Connor: All 22 of Fla.’s metros saw gains in closed sales – but inventory remains far below normal levels.
Overall, U.S. sales dropped a bit, prices rose strongly (up 14.6%), and the inventory of for-sale homes fell to a record-low 2.3 months as the average home sold in 21 days.
Attitudes about current conditions fell sharply this month as the pandemic spread, but there’s hope for the future: The mid-2021 expectations index rose 3.2 points.
A new law, effective April 8, 2020, prevents an HOA from enforcing or adopting rules that ban fireworks on the Fourth of July, New Year’s Eve and New Year’s Day.
The president is expected to sign the bill. It helps veterans who lost their home during a national disaster by ending a VA loan “repeat purchase fee” to rebuild.
Some experts think the environmental programs created “an amazing foundation,” but a new system that also analyzes utility costs would be a better gauge of performance.
A new law, effective April 8, 2020, prevents an HOA from enforcing or adopting rules that ban fireworks on the Fourth of July, New Year’s Eve and New Year’s Day.
Given the chance, many American workers would never go back to the office – and new freedom would turn most of those people into new homebuyers or suburban renters.
A complex pandemic stimulus bill compromise appears to offer relief for landlords even as Congress extends a rental ban to Jan. 1, 2021. It also bolsters Paycheck Protection Program (PPP) loans ($284B more) and Economic Injury Disaster Loan (EIDL) grants ($20B more).
iBuyers purchased just 0.2% of homes sold across 418 U.S. metros in 3Q because, “The hotter the market, the less attractive it is for home sellers” to use an iBuyer.
Many Fla. cities are exploring ways to help residents bolster homes against rising tides and heavy rains. In Miami Beach, that could mean paying 50% of the cost.
Americans stuck inside for the last nine months want more from their homes, with 1 in 4 more interested in smart technology than they were before the pandemic started.
Most experts predict a return of open houses in 2021 – but even in a pandemic, the open house could be sellers’ safest option for showing the home to multiple buyers.
In 2019, an average 1.91% city dwellers moved to smaller towns. In 2020, it rose slightly to 2.18% – but in some Fla. metros (Tampa, Orlando), it was less than 1%.
An underwriting change for qualified mortgages (QM) eases bank oversight. It should enable more buyers to qualify for a loan as it increases risks in the mortgage market.
The U.S. Environmental Protection Agency granted Fla.’s request for greater authority over development of the state’s wetlands. Supporters say it should streamline permitting if property owners want to develop wetlands, but environmentalists oppose the change.
First things first: Don’t skip the security steps. After that, make phone calls, schedule meetings, play music and ask for info about almost anything.
The Fla.-owned “insurer of last resort” met Wed., with the board saying it intended to aggressively get smaller. Chairman Carlos Beruff called current rates artificially low; CEO Barry Gilway said new policies are cheaper than 91% of policies in the private market.
In 2020, the all-time-low mortgage rate record has been broken on 15 occasions or 30% of the time. This week, the 30-year, fixed-rate loan averaged 2.67%.
That happened last week. Fla. agents continue to receive demand letters over photo copyright issues. But a safe-harbor provision provides some immunity for IDX claims.
Single-family starts rose only 0.4% in Nov., but NAHB says it’s because builders can’t keep up with demand. Permits, a sign of future activity, rose 6.9% in the South.
After meeting on Wed., the Federal Reserve said it expects a healthy economic rebound thanks to the pandemic vaccine, but it still expects to keep rates low until 2023.
Retirement planning changed in 2020 largely as a way to help savers suddenly facing economic hard times. For one thing, it might be easier to access your money now.
The Fla.-owned insurer’s proposed rates weren’t discussed yesterday and will now be considered Jan. 26 after critics said proposed increases weren’t high enough. Citizens is no longer the insurer of last resort, it’s “the insurer of first resort and growing rapidly,” says Chairman Carlos Beruff.
At 86, the builders’ index remains in solid territory since scores over 50 show optimism. But supply costs, limited land and lack of skilled workers has taken a toll.
Avail is designed for do-it-yourself landlords and tenants. It includes educational content, “contactless rental opportunities” and a system for online rent payments.
It’s unclear why Netflix focused on housing, but its donation will “lead to a new … level of responsiveness, investment and equity in the communities that get built.”
The CARES Act provided money to house homeless people in hotel rooms, and many cities could see thousands of homeless people back on the streets as funding runs out.
A 0.5% refi fee took effect Dec. 1, but the impact appears minimal. It adds about an eighth of a point to a loan’s interest rate, and most banks already apply it.
When can you get the COVID-19 vaccine? Unknown. How long before the world gets back to normal? Unclear. And those unknowns give scammers a foot in the door.
Study: Homes in high-risk flood areas appreciated about 5% less than homes in low-risk areas over the past five years. For homes in fire-risk areas, it was 3% less.
Every county has at least one home covered by Fla.-owned Citizens Property Ins. An average 3.7% increase is as high as 7.6% in one – but a 0.6% drop in Miami-Dade.
Lenders like to issue qualified mortgages (QM) because they know upfront that they can sell those loans to Fannie Mae or Freddie Mac, and then fund more home purchases. A change to QM standards should, in many cases, make it easier for buyers to qualify for a loan.
Homeowners gained an average $17,000 – or almost 11% rise – in property equity this year, creating a buffer that can help in case of financial woes.
Lucrative real estate investments change with the times. Rentals, flipping, certain types of commercial properties, REITs and REIGs may be the way to go now.
The pandemic had a big impact on nursing homes and their high concentrations of older adults. Now more families are expected to keep older relatives nearby as they age.
Also: A condo assoc. legally mailed the proposed budget 14 days in advance, but a day before the meeting sent a new one to replace it. Should they wait another 14 days?
Web surfers can’t tell how big a business is, but they can judge how big it looks. As the world moves online, people use digital quality to judge a firm’s competence.
NAR: The president-elect’s proposals go further than current ones, notably over the racial wealth gap and a first-time buyer tax credit. But if he works with a divided Senate, it will force some compromises, making it hard to predict what will happen over the next four years.
A move to fight money laundering promoted by Sen. Rubio would require shell companies in real estate transactions nationwide to identify their actual owners.
A lot of things can go wrong between contract and closing. NAR’s latest survey identifies financing (30%) first, but appraisals ties “Other” (21%) for third place.
Developers’ push for golf course communities peaked around 1990 before demand started to collapse. But the COVID-friendly outdoor activity is popular again.
In Fla., 16 housing authorities statewide will receive money to help veterans keep a roof over their heads. It’s part of a $46M package of aid awarded by HUD.
In Miami, rising seas are redefining neighborhoods. Gentrification in higher-elevation, low-income neighborhoods is pushing affordable housing into lower-lying areas.
Two courts so far, one in Fla., have ruled that an owner with business interruption insurance deserves compensation, even if one policy doesn’t cover “viruses.”
More than 20 economic housing experts at NAR’s Real Estate Forecast Summit discussed a post-pandemic 2021 and, as a group, predicted the economy (GDP) will grow 3.5% (6.2% in 2022), home prices will climb 8% (5.5% in 2022) and mortgage rates will average 3% (3.25% in 2022).
Last week, the average 30-year, fixed-rate mortgage hit its 14th record low this year, and it held onto that 2.71% rate. The 15-year loan was also unchanged at 2.26%.
Florida Realtors’ transaction management program has offered 2 versions for more than a year. The legacy program ends Tuesday, but update training remains available.
Governing docs for pets may ban pit bulls, but if a person has the needed documentation to show his pit bull is an emotional support animal, he can apply for a lease.
Last week, the average 30-year, fixed-rate mortgage hit its 14th record low this year, and it held onto that 2.71% rate. The 15-year loan was also unchanged at 2.26%.
Economists at a real estate editors forum Wed. agreed that prices would keep going up, but predictions varied from 3% (NAR) and 4.1% (CoreLogic) to 5.7% (realtor.com).
If not for forbearance programs, the market could have seen as many foreclosures as it did during the Great Recession, according to Nationwide Housing’s latest report.
Florida Realtors economist: NAR research found that homes nationally went under contract in a median of 21 days, and 72% of homes were under contract within 30 days. Fla.’s numbers are similar – but there are notable differences if you drill down into the details.
The great depression and WW II shaped the way affected generations viewed the world, and the pandemic will likely shape home-design preferences long after it ends.
A dream of a “home of our own” has pushed more potential buyers frustrated by a low inventory of for-sale properties to consider manufactured housing.
Rank-and-file Realtors rarely see their lives impacted by Fannie Mae and Freddie Mac, but oversight decisions could impact mortgage availability and rates nationwide. One question before the court: Does their current structure violate the U.S. Constitution?
Early in the pandemic, a switch to virtual real estate class programs was done quickly. It will continue, but rules, details and compliance issues are being worked out.
In some cases, generosity might not be a good idea – but in other cases, it’s fine. How can you thank important business friends during this holiday season?
While not yet confirmed, President-elect Biden will put an Ohio representative in charge of U.S. housing programs, including the eventual end of the eviction moratorium.
In the Great Recession, home prices skyrocketed, owners took out equity in a refinance, home prices fell and foreclosures mounted. But today, cash-out refis are at a 7-year low.
The pandemic forced people to get more comfortable buying and selling real estate online, and web-based crowdfunding platforms were already a way to do that.
Some agents start a blog and hope readers will find it, but others go to pre-built audiences – notably younger ones – by using popular social media “influencers.”
In Fla., 34.6% of Miami seekers are looking in Orlando; in Orlando, 20.9% are looking to Miami. Apartment List’s report also found higher demand for short-term leases.
Market predictions are difficult, and 2021 has wild cards. Will the pandemic end? Will a host of sellers list their home if they think it’s safe again? Still, prices and interest rates will probably keep rising next year, and most experts say it’s smart to buy sooner rather than later.
Some 5,703 Fla. borrowers could get more than $7.8M, says AG Ashley Moody, who was part of a multistate action against Nationstar, which is also known as Mr. Cooper.
Single-family homeowners with a Fannie Mae or Freddie Mac-backed mortgage cannot be evicted in Jan., nor can renters in properties they’ve acquired through foreclosure.
A remodeled home is worth more – and the cost to replace it goes up. Some remodeling owners could find themselves underinsured should a disaster strike.
Florida Realtors economist: Is the work-from-home trend here to stay, along with its real estate impact on new housing and location demands? A nine-month study suggests that the change was already underway before the pandemic started. It’s simply happening faster now.
While states oversee most insurance issues, Congress has flood-insurance reform on its radar and a new proposal: federal pandemic insurance that covers business losses.
Businesses thrive by changing when the world changes – and the world is changing. The attitude owners had when they first started out will also serve them well now.
Those door-to-door people offering free roofs and more, billable to your insurer? Owners who sign their iPads might be hiring a lawyer rather than a contractor.
The Commerce Dept. lowered the tariff from 20% to 9%. Higher lumber prices aren’t caused exclusively by tariffs, but lumber prices for a new home are up $10K-$15K.
Appliance manufacturers are pushing refrigerators with sterilizing ultraviolet lights and germ-killing washing machines during the pandemic.
The divorce agreement called for an ex-husband to deed the family home over to his ex-wife – but he didn’t. How can this be fixed if she can’t track him down?
92% of broker-owners made donations in 2020, up from 81% in 2018 – and in addition to money, volunteerism also increased, NAR says.
A searchable database contains partial information on 42K Fla. company names that received more than $150K – but no business names for smaller loans.
In the first of six training webinars, NAR speakers answered questions about a new Code of Ethics Rule, effective Nov. 13, that bans “harassing speech, hate speech, epithets or slurs” against protected classes. Must a Realtor, for example, no longer oppose same-sex marriages?
The limit for Title II and reverse mortgages rises from this year’s base of $331,760. In high-cost areas, the limit can go as high as $822,375, up from $765,600 in 2020.
A pandemic-inspired push from cities to suburbs has sparked interest from investors who see profit in buying build-to-rent homes to lease to those urban relocators.
Florida Realtors economist: Gen Z (oldest members turn 25 this year) faces unique obstacles with a pandemic marking their entrance into adulthood. Here’s what we know right now about their homeownership potential.
It’s only a slight drop from last week’s 2.72%, but it’s enough to break another record. One year ago, the rate for a 30-year mortgage loan averaged 3.68%.
NAR’s Real Estate Forecast Summit goes virtual this year – but you must register. Seven sessions (Dec. 10, 11 a.m.-3 p.m.) will provide an overview of the year ahead.
Also: Fla. law gives unit owners more power to upgrade to hurricane standards – but a condo complex can’t have an array of different windows. How does that work?
SB 374, one of the last bills signed by Gov. DeSantis this year, prohibits “discriminatory restrictions” from any title transaction recorded in the state. Until now, those restrictions could be added or allowed to remain in any title transaction – they just weren’t enforceable in court.
A Realtor’s friend and colleague works at a different brokerage, and per a seller’s instructions, she must ban the entire brokerage from representing a buyer if she wants a listing. It’s a personal problem but is it a Code of Ethics problem? Can she ban a single business from the transaction?
How do you get paid? While most transactions involve one of two commission agreements – the exclusive right of sale (or exclusive right to lease) listing agreements and the offer of compensation in the Multiple Listing Service (MLS) – you have other options.
“But that wasn’t a Code of Ethics violation,” often follows the filing of a Code of Ethics complaint. It’s a difficult process even if the Realtor did nothing wrong, but here are some steps to lessen the risk it will happen to you.
“How can I get the seller to accept MY offer?”, buyers wonder in today’s heated, multiple-offer market. In some areas of the country, “love letters” – a note from buyer to seller praising the home – are common. But some of the letters flirt with Fair Housing Act violations.
SB 374, one of the last bills signed by Gov. DeSantis this year, prohibits “discriminatory restrictions” from any title transaction recorded in the state. Until now, those restrictions could be added or allowed to remain in any title transaction – they just weren’t enforceable in court.
A Realtor’s friend and colleague works at a different brokerage, and per a seller’s instructions, she must ban the entire brokerage from representing a buyer if she wants a listing. It’s a personal problem but is it a Code of Ethics problem? Can she ban a single business from the transaction?
In a town that exists only in cyberspace, Realtors work against the clock to sell homes but face a challenge: They confront discrimination along the way.
Economists predict a 5.7% U.S. price increase and 7% growth in sales, but a closer look at 9 Fla. metros finds varying predictions. They range from a projected 1.5% sales growth (4.3% price) in Cape Coral-Fort Myers to 11.6% sales growth (4.7% price) along the Space Coast.
Single-family home construction saw an even bigger increase – 5.6%, according to the Commerce Department. Oct. spending exceeded analysts’ expectations.
Alabama and Georgia Realtors are suing the Trump Administration, saying the CDC’s eviction ban unilaterally shifted economic burdens from renters to landlords.
HUD will change hands under a new administration, and housing affordability will be a key challenge for any new secretary facing a pandemic-fueled uptick in evictions.
The Federal Trade Commission’s lawsuit to block CoStar Group Inc.’s acquisition of competitor RentPath Holdings alleges that the deal will eliminate competition.
An older adult wants to make sure a favored relative gets her home, but an online search provided confusing details. What’s the best way to do it?
Virtual home tours have soared in popularity thanks to the pandemic – and the cost to create virtual tours has come down.
Pre-pandemic, tech firms had water-cooler, collaboration vibes; the focus now is permanent work-from-home options. How will that impact offices, cities and suburbs?
The list advocates for many Realtor-backed issues, including a limit to COVID-19 liability lawsuits and a reduction of the tax on leased or rented commercial property.
The CDC eviction ban that ends Dec. 31 hasn’t stopped all evictions. Many renters don’t ask for it because they don’t know they’re protected, and the rule’s tight focus on pandemic-caused problems allows landlords to keep evicting tenants for a range of other reasons.
UF economist: Most pessimism stems from negative views of current personal financial situations – plus most Floridians expect only a slow U.S. recovery.
It’s #GivingTuesday – a time to help those who are less fortunate. Realtors support a huge range of charitable endeavors, including three backed by Florida Realtors.
The unusual atmosphere in Washington might delay a funding extension, which could slow some closings. Most observers don’t expect that – but it’s not a sure thing.
Year-to-year pending sales surged 20.2%, but only one region – the South, which includes Fla. – had a month-to-month increase (0.1%). NAR Economist Yun thinks rising prices hurt affordability and deterred some buyers, but the lack of inventory is an ongoing problem.
The most active season on record ended at midnight. Strong storm activity, notably in the latter half, still sent storms largely away from Sunshine State shores.
Sudden market changes make it hard for commercial appraisers to find comparable sales, which adds an element of risk for investors – and for appraisers.
Successful iBuyers need a stable market, reliable automated appraisals and some sellers afraid their home won’t sell quickly – and the current market doesn’t offer those.
New home construction is up 8.6% year-to-year, with Jacksonville, Orlando and Tampa three of the top 20 U.S. metro areas for new-home sales.
Census Bureau: Fla. has more people struggling with housing costs than any other state. More than half in a survey think eviction or foreclosure is “somewhat likely.”
If fences make good neighbors, there are a lot more good neighbors out there. Lumber costs have gone up, but many buyers want “toppers” to make an existing one higher.
The all-cash $250M deal enables CoStar to market combined commercial and residential products like advertising to brokerages that operate in both real estate sectors.
Businesses plan for the future, but the pandemic presented a challenge: Will it be largely gone by summer? If so, a Harvard University study outlines likely changes, and researchers predict which pandemic changes will fade away – and which will probably stay.
Commerce Dept.: Oct. new-home sales changed little from seasonally adjusted Sept. numbers, but they’re still 41.5% higher than they were one year ago.
While Americans’ view of present conditions changed little, a slowing economy and growing pandemic fears seem to be giving them a bit less hope for early 2021.
Fannie Mae and Freddie Mac will accept loans up to $548,250 next year – an increase from $510,400 in 2020. According to the seasonally adjusted FHFA Home Price Index, third-quarter housing prices rose 7.42% year-to-year, so loan limits will do the same.
Don’t get hopes up for cross-border holiday travel. With the pandemic apparently escalating, the borders aren’t expected to open anytime soon.
Prices rose 6.6% year-to-year in Sept., the biggest increase since April 2018, thanks to still-strong buyer demand and record-low interest rates.
Small community banks dependent on commercial RE and small biz loans feel added stress from COVID-19; 2 banks failed in Oct., including 1 in Fort Walton Beach.
The pandemic forced a lot of people to appreciate the benefits of a good neighborhood, and more are penciling that in as a shopping list must-have.
According to Leigh Brown, most agents aren’t asking one game-changer question: “Hey, friend, what are the three things you’re looking for in the agent you hire?”
As it currently stands, the CDC’s eviction moratorium ends on Dec. 31, 2020. The order, which may or may not be extended, is limited in scope.
A member of an HOA’s Architectural Review Committee says some legit requests for home expansions “would look very different.” Is that reason enough to deny them?
NAR speakers said that NAR’s bilateral agreements give Realtors a gateway into global business and a symbol of trust. Under the agreements, member organizations agree to abide by NAR’s Code of Ethics, which gives each group a deeper level of confidence.
If a lender doesn’t require flood insurance, many homeowners assume they don’t need it. But in S. Fla., Tropical Storm Eta’s visit shows it’s still worth consideration.
The number of people who locked-in mortgage rates for second homes – in spite of a pandemic-caused economic dip – suggests a K-shaped recovery.
Harvard housing report found that the pandemic hit low-income renters hard. Of those who earn $25K or less, more than half lost wages after the pandemic hit.
5G – the next generation of internet connecting – will change the way we collect data, drive cars, pay for devices, buy homes and make real estate marketing decisions.
The new president issued a formal apology, calling earlier policies “an outrage to our morals and our ideals. It was a betrayal of our commitment to fairness and equality.”
State regulators approved about 100 rate-hike requests in 2020, with at least two close to 30%. But those are averages – a specific owner’s rate hike might be higher.
The Dept. of Justice-NAR agreement isn’t finalized, but NAR says it will institute changes, such as making info on buyers’ agents’ compensation publicly available in the MLS and creating a definitive rule that buyers’ agents can’t represent their services as free.
An 8-episode first-time homebuyer series on YouTube focuses on the problems that can occur during a transaction – and the Realtors who solve those problems.
Florida Realtors’ data: Single-family home sales up 26.9% year-over-year, median sales price up 15.6%; condo sales up 30.3%, median price up 15.9%. Chief Economist O’Connor: Strong and persistent demand, coupled with worsening inventory shortages, continued to drive up home values.
Last week, a stock market surge pushed rates a bit higher. This week, the average 30-year, fixed-rate mortgage fell once again to 2.72%, its 13th record low this year.
NAR Chief Economist Yun predicts low mortgage rates (3.1%) next year, a 3% home price increase, 9% existing-home sales increase and a 23% surge in new-home sales.
Year-to-year, Oct. sales rose 26.6%, up for the fifth month in a row. “The housing sector has performed remarkably well” considering everything, says NAR economist.
Fla. House and Senate leaders say the state needs to address the impact of rising seas on the state’s coastal communities and suggested forming work programs.
How do you get noticed online? To gain a following, you must offer something unique by first understanding your audience – and it doesn’t hurt to be funny.
Should a business be protected from lawsuits that allege COVID-19? Florida Realtors supports change, and lawmakers will likely consider the issue in 2021. They must work out details to shield businesses from frivolous claims but also keep them accountable for their actions.
Freddie Mac: Forbearance did more than help at-risk owners. It also stopped a foreclosure surge from hurting the market and helped all homeowners retain their value.
The increase follows a more modest 1.9% increase in Sept. Building permits – a sign of future activity – remained steady in Oct. but are still up 2.8% year-to-year.
If a stager’s furniture is damaged when a home is on the market, who pays? Usually, it’s the homeowner. Use contracts and vet possible stagers before hiring them.
Created as a way to boost collaboration, open floor plans started to fall out of favor even before the pandemic, in part because workers still found ways to form barriers.
The RE industry is watching Generation Z as the leading edge turns 24. What do they want in a home? One survey found 62% expect to have smart-home technology.
Builders are almost giddy. An Index of 50 suggests a balance between optimism and pessimism, but Nov.’s confidence number hit 90 after a record-breaking 85 in Oct.
Property insurance costs keep going up, and the 2020 Florida Legislature is feeling pressure to do something about it. The issue generates controversy, but, among other things, they could change attorneys’ fees, reduce coverage, create claim deadlines or adjust a number of other things.
Many renters still think they need 20% down to buy a home. Landlords are in a unique position to explain the buying process and convert renters into buyers.
Some brokers and independent contractors have pragmatic concerns about COVID-19: If a business can’t function without its owner, what happens if they get sick?
If the average transaction takes 181 steps, how many can be simplified? Agents are now finding out as pandemic precautions pushed more of them to adopt new technology.
While cultural and financial concerns push demand for multi-generational housing, more adult children now think it’s also a way to keep Mom and Dad safe as they age.
2 out of 5 (38%) actively engaged homebuyers said high prices kept them from actually submitting a bid, while 30% said they’d put in an offer but were outbid.
In general, monthly income helps mortgage qualifying more than retirement money in the bank. Retirees should prep for a purchase a few months before they plan to buy.
More homeowners are heading toward default even though they have forbearance or other options, and CFPB is encouraging lenders to share their info with clients.
In addition to Code of Ethics changes, NAR’s board approved 8 recommendations for consistent MLS standards and approved greater support for housing-shortage policies.
The board voted to add Standard of Practice 10-5, which requires Realtors “not use harassing speech, hate speech, epithets or slurs based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation or gender identity” even outside real estate transactions.
Also: The banging and slamming from an upstairs unit feels almost intentional, and it goes on all night long. What can lower-unit owners legally do?
The affordable housing sector has proved resilient, and the new real estate investment trust (REIT, which trades similar to stocks) will focus on Opportunity Zones.
However, a tax credit for first-time buyers, part of Pres.-Elect Biden’s housing plan, won’t do much good if a low inventory keeps pushing prices higher.
More crooks scrape your for-sale or for-rent ads, change contact info and try to scam renters out of money – a crime tactic that works even better during the pandemic.
Florida Realtors’ Economist: NAR released its Commercial Market Insights report, and it suggests that nuances between asset types and class indicate opportunity and risk.
NAR says about 1 out of 7 Realtors carries a firearm if working with a stranger, though men are more likely to carry a gun while women prefer pepper spray.
The immigration program gives green cards to foreigners who invest at least $900K in approved investments, often real estate – but the program’s future is in doubt.
A coalition of financial firms rolled out “Not Ok? That’s Ok,” a push to tell at-risk homeowners that a number of programs offer help, but they have to ask for it first.
There’s increased demand for the suburbs and home offices, and more sellers want to upsize. They also have a greater feeling of urgency and rely more heavily on tech.
Florida Realtors’ data: Single-family home sales up 13.7% year-over-year, condo sales up 13.5%; 3Q median sales price up 13.2% in both categories. Chief Economist O’Connor cites pent-up buyer demand and record-low mortgage rates as “driving factors.”
A robust stock rise fueled by the possibility of a pandemic vaccine pushed mortgage rates slightly higher, up from 2.78% in last week’s survey.
Two out of three (65%) metro areas had double-digit price gains in the July-Sept. time period, and single-family home sales rose in every area NAR tracks.
A CDC-led eviction moratorium ends on Dec. 31, but NAR considers an extension likely because “No president wants to have people forced on to the streets in Jan.”
ATTOM’s 3Q Opportunity Zone report found that home prices rose in 74% of the zones and by double digits in about half of them. But surrounding metros did a bit better.
NAR and others sent a Nov. 9 letter on this to congressional leaders. Separately, some lawmakers are pushing for COVID money to be reprogrammed to help rental owners.
The news prompted investors to get bullish on several real estate stocks, including retail and hotel sectors hit hard in the pandemic. Some share prices rose 20%.
It would allow lenders to accept private flood insurance policies for single-family mortgages instead of NFIP insurance if coverage is required for FHA loan approval.
In a divided government, lawmakers must find a way to work together. Joe Ventrone, NAR’s vice president of federal policy and industry relations, says the goal then will be to bring both parties to the middle on real estate issues, such as rental assistance and GSE mortgage reform.
It asked the firm to stop “attempts to intimidate our members” after the firm responded to a first letter by saying NAR denigrates efforts to help the disabled.
A tax plan and actual change aren’t the same thing, but the president-elect wants a tax credit up to $15K for home purchases and up to $10B for rental-housing tax credits.
When will business get back to normal? The pandemic’s days might be numbered, but any return to normal will depend on the time to produce and distribute a vaccine.
Many Canadians will have a white Christmas this year – and they’re not happy about it. With the border closed until at least Nov. 21, a risky flight is the only way down.
The most important part for getting referrals? Do a great job the first time. But there are also ways to get referrals before actually working with customers.
Florida Realtors’ economist: Florida celebrates Veteran’s Day today and all year. In 2020 so far, Fla. moved up a spot in VA loan rankings (to No. 2) after passing Texas. Across the U.S., the number of VA-backed loans has nearly doubled, with refinances leading the surge.
Pre-pandemic, a great home interior might override an iffy front yard – but today, many buyers won’t even risk an in-person tour if they don’t like the outside.
As a state, Fla. ranks third after New York and Nevada for mortgage application fraud – but it varies by metro area, with the South Fla. metro No. 3 nationwide.
NAR’s Business Issues Policy Committee narrowed down concerns to a “top 5” for 2021. At the top of the list is to protect a Realtor’s independent contractor status, followed by education on money-laundering efforts, real estate fraud and industry COVID-19 relief efforts.
Homeowners often save hundreds of dollars a month by refinancing at today’s record-low rates, and a new fee that kicks in on Dec. 1 won’t make a big difference.
An investment-home owner with a month-to-month tenant sold the property and will close soon – but the tenant shows no signs of moving. What now?
Opportunity zone laws create an ideal way to maximize profit when building affordable housing, but Realtors need to take the initiative and make it happen.
Homeowners who spent a lifetime working, raising families and paying mortgages have a greater net worth later in life. Among U.S. families who own rather than rent, a primary residence accounts for 90% of total wealth – and 99% for the bottom 20% of low-income owners.
The Federal Reserve didn’t change rates this week, but it pledged to use its “full range of tools” to support the U.S. economy as the pandemic continues to grow.
Buyers saving money each month for a down payment may find the goalposts have moved. If home prices rise 5%, the amount of money they need to put down does too.
Cabin fever has led more Americans to look for … well, a cabin. An online listing site says interest doubled since 2019, and Google searches are up as much as 235%.
The pandemic tossed traditional “best time of year to buy a home” advice out the window. This year, low inventory and strong demand continue to drive the market.
NAR’s global network extends to 87 countries. New to the list: The Association of Estate Agents in Nigeria and Association of Real Estate Agents of Trinidad and Tobago.
Floridians passed Realtor-supported Amendment 5, giving sellers up to three years – an increase from two – to transfer (port) accrued property tax benefits to a new home.
It’s a new all-time record low for the 30-year FRM – the 12th time this year. Meanwhile, the average rate on a 15-year mortgage remained at 2.32% this week.
The builders group says record-low mortgage rates are no longer enough to offset rising home prices as buyers fight over a dwindling supply of for-sale inventory.
In an effort to ease the damage caused by limited lending over the years, lenders’ programs can include thousands of dollars in closing-cost credits, down payment assistance, low-interest loans and/or more affordable housing opportunities for underserved communities.
The situation isn’t clear: Roads damaged by a disaster mean a tenant is blocked from her apartment and must temporarily rent elsewhere. What does the lease allow?
Since the pandemic, buyers focus now on more space and outdoor features. Square footage, living space, floor design and outdoor spaces, like pools, are top priorities.
Candidates backed by Florida Realtors PAC made strong showings: 10 Realtors or affiliates were elected or re-elected, and 95% of PAC-endorsed candidates won their race.
An association study for the virtual Women in Real Estate (WIRE) conference, Nov. 23-Dec. 1, found that Fla.’s 12 biggest brokerages are led by men, even though a majority of members are women. And within teams, 88% of male brokers identify as leaders compared to only 53% of women.
On Nov. 13, NAR’s Board of Directors will consider a proposal that would affect a Realtor’s ability to use some types of discriminatory speech in any context.
Pres. Barry Grooms: “Florida’s Realtors are passionate advocates for Realtor professionalism.” Winners receive a $5,000 grant to help promote C2EX in 2021.
An effective artificial intelligence (AI) program can build meaningful relationships with clients before an actual human gets involved.
Fla. voters approved a gradual minimum-wage boost to $15 per hour, which could impact many businesses, notably tourism – and brokers who have hourly employees.
Fla. consumer sentiment declined 2 points after the largest one-month gain on record. Researchers now have their eyes on Nov. and the possible impact of U.S. elections.
A global survey of real estate players found “increased flexibility” to be a central theme going forward. Respondents expect increased remote work, including from home (96%) and outside the home (72%), plus an increased reliance on suburban satellite offices (67%).
An Oxford University Study found that the gap in home values in white-majority vs. minority-majority neighborhoods is larger than it was 40 year ago.
For some buyers, a small home – really, almost any property that makes them a homeowner – is a dream home, and “starter” downplays the achievement.
After a Denver 89-year-old lost her life savings, the state’s top lawyer said a reverse mortgage can be a good choice for some – but carefully check out the lender.
Commercial landlords don’t want to lose important tenants whose money struggles might end with a vaccine. As a result, they’re seeking some type of rental middle ground.
Some targeted property owners say a group calling itself the Florida Fair Housing Alliance is suing landlords after only a phone call if the answer to “Do you rent to convicted felons?” is a “no.” Other fair housing groups say that tactic will do more harm than good.
The U.S. had an amazing rebound in 3Q, but the Commerce Dept. predicts a second economic dip and slower rebound in 2021 if there isn’t another stimulus package.
Fannie and Freddie would have tightened their loan standards on Jan. 10, mainly for debt-to-income ratios, but CFPB extended that date due to pandemic concerns.
The first virtual conference started yesterday; the entire event runs Nov. 2-18. The theme is “Reset, Refocus, Get Reinvigorated and Find Your ‘R’!”
Propane patio heaters are the “new toilet paper.” With the outdoors safer for avoiding the coronavirus, demand from Northerners has already decimated the supply.
Restaurants and real estate rely on the yearly migration, but tourism bureaus rarely track numbers. While fewer Canadians may come, it’s unclear what to expect.
Propane patio heaters are the “new toilet paper.” With the outdoors safer for avoiding the coronavirus, demand from Northerners has already decimated the supply.
HUD’s disparate-impact rule tries to stop discrimination that occurs in the absence of any overt discriminatory behavior. It’s now trying to walk that rule back a bit.
The pandemic sparked strong demand for boats, an acceptable social distancing activity. But a dearth of parking spots led some people to buy homes for the dock space.
The listing site, CommercialCafe, says a rising count of visitors are interested in commercial office space – a number that surpasses even pre-pandemic records.
A condo owner removed signs that said “Wear Your Mask” from the building’s main doors, and the president now accuses him of vandalism. Can he be fined for this?
The group claims a “minimum price policy” business practice by Redfin benefits higher-income neighborhoods more than lower-income neighborhoods. Redfin denies the charges for “legitimate business reasons” but says it’s struggled with the issues raised.
Inventory remains tight, but realtor.com’s weekly housing report suggests that supply may be slowly moving a bit closer to demand as more current owners decide to move.
Higher home prices and low inventory may have sparked a slight drop in pending sales in Sept., but the number still surged 20.5% when compared to Sept. 2019.
Home purchases in “turning around” neighborhoods can be good investments as new owners see their property values rise faster than other nearby neighborhoods. But gentrification changes a community’s characteristics and can flirt with Fair Housing Act violations.
A seller claims he received at least 70 phone calls from real estate agents after his Realtor pulled his MLS listing so he could make some repairs – but two agents kept calling even after the home’s MLS return. Do agents have an ethical duty to check the MLS before calling?
Mom lives in a home she co-owns with Son A. Son B will eventually inherit Mom’s half and he wants to buy Son A’s half now and pay for it over time. Son A is okay with that. But he’s worried about legal problems if they don’t handle the details correctly.
For many buyers, especially millennials, “smart home” is an MLS selling point. But with new tech tools being released and updated at breakneck speed, which smart-home upgrades stay with the house and which ones move out with the seller?
When tenants fail to pay deposits and advance rent on time, members sometimes get confused about the (up to) five different legal relationships lurking beneath the surface. This article should help untangle where everyone stands.
In the early stages of the pandemic, most landlords and retailers found common ground dealing financial stress. But those bonds are weakening as the pandemic drags on.
The SBA issued Economic Injury Disaster Loans (EIDL) to small businesses in the early days of the pandemic, but a new federal analysis suggests that up to 37% of the money SBA doled out, about $78B, has red flags in borrower applications that hint at possible fraud.
Builders see home-sales gold in a sea of retiring boomers. In a 55+ Housing Market Index where 50 is an optimism-pessimism balance, the index saw a rise to 83 in the 3Q.
The average 30-year, fixed-rate mortgage barely moved from last week’s record-low 2.80%. One year ago, the average 30-year FRM averaged 3.78%.
The first step to boost social media marketing? Get a plan. Content drives the marketing, so start by telling your story and then a bit about your home neighborhood.
Of all the shelter-at-home tech complaints, spotty Wifi may be at the top. While the best connections sometimes stall, a few simple steps might fix chronic problems.
A letter phrase like “my kids running down the stairs on Christmas morning” includes two protected classes under the Fair Housing Act – religion and familial status.
On a final walkthrough, unfinished repairs and newly discovered problems are usually the seller’s problem. After closing a few days later, they’re the buyer’s problem.
NAREB’s 2020 study says Black homeownership will lag without major changes in public policy, lending, down payment assistance and forbearance period extensions. “You clearly see that structural and institutional remedies are necessary,” says NAREB President Williams.
An analysis of 3Q buyer searches on Redfin’s website found 22K more people from other states looked for a Fla. home than the number of Floridians who looked elsewhere.
Also: Can a condo board decide that guests must always be accompanied by a homeowner? And does Fla. law say anything about the privacy of personal records?
Home prices increased more than economists expected, and the pace of those increases is accelerating. In July, home value rose just 4.1% higher year-to-year.
Home prices increased more than economists expected, and the pace of those increases is accelerating. In July, home value rose just 4.1% higher year-to-year.
“How much longer would it take my home to sell if I increased the asking price by $20,000?” While real estate algorithm accuracy is a bit dicey, a new Homesnap product allows sellers to play with their asking price to see how a change would impact the time it takes to sell.
“How much longer would it take my home to sell if I increased the asking price by $20,000?” While real estate algorithm accuracy is a bit dicey, a new Homesnap product allows sellers to play with their asking price to see how a change would impact the time it takes to sell.
It’s hard to estimate a new home’s completion date if flooring, lumber and appliances are hard to get – or how much it will cost to build a home until after they arrive.
It’s hard to estimate a new home’s completion date if flooring, lumber and appliances are hard to get – or how much it will cost to build a home until after they arrive.
Builders see more rental demand for single-family homes than high-rises. The pandemic plays a part, but more aging boomers also prefer low-maintenance, single-family living.
Builders see more rental demand for single-family homes than high-rises. The pandemic plays a part, but more aging boomers also prefer low-maintenance, single-family living.
While views of current conditions improved, Americans were less optimistic about the short-term future, with little to suggest “momentum in the final months of 2020.”
While views of current conditions improved, Americans were less optimistic about the short-term future, with little to suggest “momentum in the final months of 2020.”
Traditions don’t have to die. One seller wants a porch skeleton to stay, and he wants its clothes changed frequently. Another seller demands that buyers keep his cat.
Traditions don’t have to die. One seller wants a porch skeleton to stay, and he wants its clothes changed frequently. Another seller demands that buyers keep his cat.
A publicly traded Real Estate Investment Trust (REIT) will focus on the cannabis industry. The REIT status provides tax benefits and can unlock capital.
According to a study done by MIT, Black borrowers pay $13,464 more than white borrowers over the life of a home loan, which includes interest, insurances and taxes.
The little things often frustrate us the most. For Realtors who must wear glasses, the masks with small metal strips at the top work best to avoid glass fogging.
Unlike 9-5 employees, Realtors’ independent-contractor status makes finding health coverage a bit challenging. However, open enrollment for qualified health plans starts Nov. 1 and ends on Dec. 15, and NAR has resources to help Realtors find plans that best match their needs.
Many people are worried about credit scores these days, and federal support programs have largely improved U.S. credit scores – but things could change quickly.
Despite the modest decrease, new-home sales are up 32.1% year-to-year, and the industry bounced back this summer following a late-spring pandemic shutdown.
To help get your mortgage or refi OK’d while interest rates are at an all-time low, check your credit score and report, pay down debt and compare mortgage lenders.
Fla. has over two times more wire-fraud incidents than No. 2 Georgia. In real estate, scammers entice buyers to wire closing money to a fake address, dashing buyers’ dreams and robbing Realtors of commissions. The FTC now has a dedicated website for reporting wire fraud.
Authority can be delegated to a manager, president or other person to spend money – usually up to a set amount – without board approval, but there are steps to follow.
The Appraisal Institute, American Society of Appraisers and two other groups collectively support additional training that addresses unconscious bias in valuations.
An old digital camera can become a security camera. An old laptop could run marketing videos on a loop during open houses. An old smartphone can become a video feed.
It’s the service’s first entry into Fla. Knock uses expected equity (at least 30%) from a home sale to guarantee a buyer’s new mortgage before the original home sells.
Florida Realtors’ data: Sales, median prices, new pending sales and new listings rose year-over-year. Single-family sales up 22%; condo sales up 25.3% – and in a milestone, 2020 single-family sales over last 9 months beat the same timeframe in 2019, says Chief Economist O’Connor.
Freddie Mac: The average 30-year, fixed-rate mortgage broke its all-time record low for the 11th time this year, dropping slightly from last week’s average 2.81%.
Survey: Americans, especially young adults 18-34 years old, want neighbors who politically agree with them – a variable that can become part of their decision-making.
City dwellers considering a move to the suburbs often wonder if it’s really a good decision. To find out, more are now booking two-week-plus Airbnb rentals first.
While new-home numbers are up 8% year-to-year, it’s still not enough compared to buyer demand – but an uptick in permits suggests things will get better.
Americans are buying homes. Sales rose 22% year-to-year as inventory hits a record low (2.7 months) and more than 70% of homes were on the market less than a month.
Buyers trying to boost their credit score to secure a mortgage realize some things can be corrected quickly – but others hang onto a credit score for years.
Counseling could help first-time homebuyers qualify for a loan and give them information they need to keep and maintain their home after purchase.
It pays to shop around for the best mortgage rate – but it pays more now. Lenders are facing wildly different challenges, and their rates vary more than usual today.
What blog post topics pull in the biggest audience? For marketing, webinars, roundups (several writers), guides and e-books, and interviews top the list.
Homeowners facing financial challenges caused by the pandemic now have until Dec. 31 to request forbearance if they have an FHA loan. A forbearance approval would allow them to avoid monthly payments in increments that could potentially last up to a full year.
How many renters aren’t paying rent? That question causes lenders to pause, and many have tightened requirements for small-unit apartment acquisitions or refinances.
Fla. homeowners have two years to “port” tax savings to a new home, but in some cases that can be barely more than one year. A “yes” on Amendment 5 creates a two-year minimum.
To make employees comfortable, companies are adopting a fresh-air theme to office remodels. It includes better air filtration and a greater connection to the outdoors.
In March, Gov. DeSantis banned short-term vacation rentals. That ended with Phase 3, but some HOAs kept the ban in place citing resident safety. However, that also created problems for short-term rental investors, some of whom haven’t had income in seven months.
A monthly index of builders’ attitudes hit 85 this month – a new high after a record-breaking 83 in Sept. The index goes from 1 to 100; anything over 50 is optimistic.
The increase follows a slight decline in Aug., and building-permit applications – a sign of future activity – rose 5.2% (1.55M units) last month.
ULI: Cities with housing shortages are rethinking their single-family zoning laws that make it hard for high-density construction projects to find available land.
A new report from the South Florida Climate Compact suggests that counties should spend billions now in mitigation efforts to avoid spending even more in the future.
Ocwen allegedly made mistakes servicing Fla. homeowner’s mortgages, including untimely insurance payments and force-placed insurance, says Attorney General Ashley Moody.
Due to COVID-19, the migration from cities to suburbs has accelerated; multifamily developers no longer have amenity wars to attract new residents; and health and wellness movements are emerging in hotels, offices and more.
The U.S. Center for Disease Control issued a list of frequently asked questions about the eviction moratorium, including that the judicial process can be “carried out according to state and local laws and rules,” and “eviction does not include foreclosure on a home mortgage.”
New study: Women make up 57% of Florida Realtors membership yet fill a smaller percentage of industry leadership roles. Find out more at Women in Real Estate (WIRE) event.
First-time buyers who drain their savings on closing day have to delay new furnishings and repairs – and at least temporarily put up with undesirable cosmetic problems.
If you click an “unsubscribe” button on a no-longer-wanted email, the sender can immediately learn your email software, browser choice and operating system.
New concept would allow companies to buy day passes to fully stocked offices in satellite locations – a way to give stay-at-home workers the benefits of an office.
Temporary outages started Oct. 7 and DBPR called in law enforcement. New security protocols have started, but personally identifiable info doesn’t appear compromised.