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Florida Realtors®, formerly known as the Florida Association of Realtors®, serves as The Voice for Real Estate® in Florida. It provides programs, services, continuing education, research and legislative representation to its 115,000 members in 67 boards/associations.
Updated: 3 hours 54 min ago

Commercial Real Estate: Opportunities and Challenges Abound

Fri, 10/15/2021 - 03:10
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.

Report: Fla. Closing Costs Are 2.32% of Home Price

Fri, 10/15/2021 - 03:10
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.

Fla.-Owned Insurer’s CEO Cites ‘Sea of Red Ink’

Fri, 10/15/2021 - 03:10
The head of Citizens Property Insurance calls losses among all state insurers “absolutely staggering.” He blames the marketplace itself, saying it impacts every company.

White House Targets Economic Risks from Climate Change

Fri, 10/15/2021 - 02:10
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.

U.S. Funding More Multifamily in 2022 – 50% Must be Affordable

Fri, 10/15/2021 - 02:10
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.”

How Many Offers Did the Typical 2021 Buyer Make? Two

Fri, 10/15/2021 - 02:10
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.

U.S. Foreclosures Soar – But They Also Fall

Thu, 10/14/2021 - 04:10
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%.

Mortgage Rates Surpass 3% Again – Hit a 6-Month High

Thu, 10/14/2021 - 04:10
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%.

Many Condo Appraisers Will Start Assessing Building Safety

Thu, 10/14/2021 - 04:10
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.

U.S. Land Border Plan: Vaccinated Canadians Can Return in Nov.

Thu, 10/14/2021 - 04:10
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.

Some Nonbanks Raised Conforming Loan Limits to $625K

Thu, 10/14/2021 - 04:10
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.

What Would Boost the Real Estate Industry? More Babies

Thu, 10/14/2021 - 03:10
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.

Jumbo Home Loans Near Pre-2008 Crisis Levels

Wed, 10/13/2021 - 04:10
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.

Can’t Afford a Home? Co-buying Skyrockets

Wed, 10/13/2021 - 04:10
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.

Buyer, 84, Fatally Shoots Agent Over Home Dispute

Wed, 10/13/2021 - 04:10
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.

Lawmakers Consider Changes to Fla. Law After Surfside Tragedy

Wed, 10/13/2021 - 04:10
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.

Commercial Investors Worry About Possible 1031 Exchange Rules

Wed, 10/13/2021 - 04:10
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.

Fortify Finances Against Natural Disaster

Wed, 10/13/2021 - 04:10
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.

S. Fla. Condo Sales Unfazed by Surfside Condo Collapse

Tue, 10/12/2021 - 03:10
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.

Redfin Expands Program Allowing Buyers to Self-Tour Homes

Tue, 10/12/2021 - 03:10
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.