Realtor News

Benefits authorized under the CARES Act expire July 31, but it’s now clear that many people will still be out of work. Congress has floated a few different proposals.

Get out of Dodge – or New York or any big city. Survey: 52% of city dwellers would consider moving if they could work from home, but in New York City, it’s 60%.

Many buyers view the pandemic as an opportunity rather than challenge. Mortgage bankers say the number of mortgage applications and amount requested keeps going up.

Among its seven acquisitions, the Florida Forever fund will spend $79M to preserve coastal land in two Panhandle counties and a Fla. panther habitat near the Everglades.

How many buyers backed off waiting for prices to fall? How many lost income and are gone for good? How many homeowners can still afford their mortgage? How has the pandemic changed attitudes? With so many unknowns, market predictions have little value right now.

By rejecting a preliminary injunction in a class-action lawsuit, a judge refused to order Fla. to “fix” its unemployment compensation system to process and pay claims.

A homeowner’s property insurance cost is based on a wide range of factors, including location, construction details and even the insurance company’s costs. Overall, however, a number of Fla. homeowners will see their coverage costs go up as some of those details change.

Survey: Most buyers seem ready to move forward with deals. In general, more people feared COVID-19’s effect on society (61%) than how it might impact them.

A Realtor.com survey found that two-thirds of pet owners would even forego a dream home if it couldn’t easily accommodate their pets.

At 3.15%, the median 30-year, fixed-rate mortgage set another record. It’s down from last week’s 3.24% and the lowest since Freddie Mac started tracking in 1971.

A state appeals court ruled that a Florida homeowner’s residence retained its homestead protection even if the late owner rented out three of the four bedrooms.

The expected drop still makes the industry pause, but NAR Economist Yun says “activity will rise as states reopen and more consumers feel comfortable about homebuying.”

Lawsuits cost a ton of money even if you prevail, and aggressive lawyers are filing lawsuits against property managers and landlords that ban all rental candidates with a criminal history. It’s not strictly illegal, but a HUD statement says it likely violates the Fair Housing Act.

Realtor A’s listing excited Realtor B – just what his clients want. But after Realtor B scheduled a showing, he said the commission in the MLS wasn’t high enough. After failing to convince Realtor A, he then included a higher commission in the contract. That’s wrong – right?

Noting an “increase in violations and tempers” during the COVID-19 pandemic, a condo board wants to boost its enforcement powers and fine unit owners who break the rules. But details count. Any new enforcement process might create more problems than it solves.

It’s vital to review all advertisements, MLS entries and public-facing messages to make sure they comply with the Fair Housing Act and related laws that exist at all levels – local, state and federal. Realtors have been sued over accidental mistakes in the past.

The goal in a transaction is to proceed smoothly to closing. Speedbumps occasionally arise – but don’t create speedbumps on your own. A smooth process starts with careful attention to the contract, filling in all necessary blanks, and checking all appropriate boxes.

Some tenants can’t cover all their expenses right now, and a few landlords are giving them a reason to make “pay the rent” a higher priority as they make hard decisions.

RE investors base a purchase price on future expectations, but the pandemic created market confusion. As a result, first-timers face less competition for starter homes.

Most lenders admit to mass confusion when new forbearance options came out; ones that both service and/or own loans could offer borrowers completely different options.