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Crowdfunding RE Company Owner Sentenced for Mail Fraud

Realtor News - Fri, 11/05/2021 - 04:11
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.

Condo Q&A: What Are Florida Law Requirements for Reserves?

Realtor News - Fri, 11/05/2021 - 04:11
Also: Are email addresses confidential? A candidate running for the board asked current officers for a copy of every resident’s email address.

Paycheck-to-Paycheck Renters Struggle with High Costs

Realtor News - Fri, 11/05/2021 - 04:11
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.”

Baby Boomer Challenge: Find a Home for Downsizing

Realtor News - Fri, 11/05/2021 - 04:11
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.

OSHA Vaccine Mandate Doesn’t Include Independent Contractors

Realtor News - Thu, 11/04/2021 - 04:11
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.

States with the Fewest Outgoing Residents? Fla. No. 3

Realtor News - Thu, 11/04/2021 - 04:11
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.

Fed Makes It Official: It Will Slow Mortgage Bond Purchases

Realtor News - Thu, 11/04/2021 - 04:11
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.

Apple iOS Privacy Updates Impact Real Estate Ads

Realtor News - Thu, 11/04/2021 - 04:11
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.

Long-Term Mortgage Rate Ticks Back Down to 3.09%

Realtor News - Thu, 11/04/2021 - 04:11
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%.

The Top Buyer Concern on Moving? Local Crime Data

Realtor News - Thu, 11/04/2021 - 04:11
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.

UF: Floridians’ Consumer Confidence Down for Third Month

Realtor News - Wed, 11/03/2021 - 04:11
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.

Lenders Deny Higher Percentage of Asian Americans’ Mortgages

Realtor News - Wed, 11/03/2021 - 03:11
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.

Fair Housing: Lenders Tend to Deny Asian Americans’ Mortgages

Realtor News - Wed, 11/03/2021 - 03:11
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.

Tired of Writing Listing Descriptions? Software Does It for You

Realtor News - Wed, 11/03/2021 - 03:11
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.”

Daylight Saving Time Ends Nov. 7. Why Does Fla. Still Do This?

Realtor News - Wed, 11/03/2021 - 03:11
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.

Zillow to Stop Home-Flipping Amid Pricing ‘Unpredictability’

Realtor News - Wed, 11/03/2021 - 03:11
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.”

How Can Desktop Appraisals Make the Mortgage Process Easier?

Realtor News - Wed, 11/03/2021 - 03:11
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.

Millennial Demand Should Keep Housing Strong for Years

Realtor News - Tue, 11/02/2021 - 04:11
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.

Save Gas Money – Use Google Maps

Realtor News - Tue, 11/02/2021 - 04:11
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.

When Will S. Fla. Rents Drop? Experts Say Not Soon

Realtor News - Tue, 11/02/2021 - 04:11
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.
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