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Lumber Prices Plummet – But Other Building Costs Soar

Realtor News - Fri, 08/27/2021 - 03:08
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.

Frustrated House Hunters Give Up on Buying a Home

Realtor News - Fri, 08/27/2021 - 03:08
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.

Mortgage Lender Gives $500K Discount to Vaccinated Borrowers

Realtor News - Fri, 08/27/2021 - 03:08
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.

FAU Economist Says Homes ‘Less Overpriced’ in July

Realtor News - Fri, 08/27/2021 - 03:08
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.

Eviction Ban Ends – Realtor Groups Win in Supreme Court

Realtor News - Thu, 08/26/2021 - 20:08
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.”

Florida Realtors Honors Barry Grooms: 2021 Realtor of the Year

Realtor News - Thu, 08/26/2021 - 05:08
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.

Under New Programs, ‘Cash Offers’ Aren’t Cash Offers

Realtor News - Thu, 08/26/2021 - 05:08
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.

A Marginal Rise for 30-Year Mortgage Rates: Up to 2.87%

Realtor News - Thu, 08/26/2021 - 05:08
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 averaged 2.86%

Real Estate’s 2021 ‘Slow Season’ Won’t be Slow

Realtor News - Thu, 08/26/2021 - 04:08
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.

Are Scripts Dead? Consumers Prefer Good Listeners

Realtor News - Thu, 08/26/2021 - 04:08
During listing conversations, providing good answers may be more important than leading the conversation. Be present, engaged and eager to understand what sellers want.

Boca Raton First City to Boost Condo Rules Over Inspections

Realtor News - Thu, 08/26/2021 - 04:08
Two months after the Champlain Towers tragedy, Boca Raton created new rules, with first inspections now due after 30 years. About 242 buildings are impacted.

Treasury Dept.: Only 11% of Rental Assistance Has Gone Out

Realtor News - Wed, 08/25/2021 - 05:08
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.”

U.S. Demographics Favor Fla.: Old, Southern and Retired

Realtor News - Wed, 08/25/2021 - 05:08
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.

Condo Q&A: What Can the Fining/Suspension Committee Do?

Realtor News - Wed, 08/25/2021 - 04:08
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?

Parents Buying College-Town Homes for Their Kids

Realtor News - Wed, 08/25/2021 - 04:08
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.

Some Buyers Showing Interest in 3D Printed Homes

Realtor News - Wed, 08/25/2021 - 04:08
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.

Local Impact Fees Cost New-Home Buyers Up to $90K

Realtor News - Wed, 08/25/2021 - 04:08
On top of supply-line problems and worker shortages, developers say local governments’ construction fees make it almost impossible to build affordable housing.

Affordability Still the Top Concern for Homebuyers

Realtor News - Tue, 08/24/2021 - 04:08
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.

Supreme Court Hears Arguments For/Against the Eviction Ban

Realtor News - Tue, 08/24/2021 - 04:08
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.

July New-Home Sales Up 1% as Prices Skyrocket

Realtor News - Tue, 08/24/2021 - 04:08
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.
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