South Florida Real Estate

Organic vs. Paid Leads: Which to Choose?

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Organic leads are great – if you get them. Cost is always a consideration, but paid leads can be ideal for newbie agents who want to hit the ground running. CHICAGO – Purchasing leads, even on a temporary basis, may be beneficial for real estate companies, according to Iron Valley Real Estate. Organic lead generation … Read more

What Happens if the Government Shuts Down?

WASHINGTON – The federal government has experienced 14 shutdowns since 1980. If Congress fails to pass a full-year spending bill or a stopgap “continuing resolution” (CR) to keep the government open, there could be another shutdown on Oct. 1. But what does this mean, and how does it impact everyday Americans and the economy? What … Read more

RE/MAX Settles Claims in Compensation Lawsuits

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Another large brokerage settled a lawsuit over buyer agents’ commissions, but NAR will continue the fight for “pro-competitive local MLS broker marketplaces.” CHICAGO – A second defendant in the two class-action lawsuits challenging real estate compensation fees reportedly has reached a settlement with the plaintiffs. RE/MAX, one of several large brokerages named in the suits, … Read more

RE Q&A: Who Fixes Electric Issues in Shared Walls?

An apartment building was converted to condos decades ago, and a recently discovered problem arose: Some electrical connections serve two different owners. What now? FORT LAUDERDALE, Fla. – Question: I live in an apartment building that was converted to condominiums decades ago. Given the age of the building, many unit owners are doing extensive upgrades. … Read more

Fla.’s Aug. Housing Market: Median Prices Rise

Single-family median price up 2% ($415K) YOY, condo median price up 6.2% ($324K). Chief Economist O’Connor: Mortgage interest rates continue to be “dominant factor.” ORLANDO, Fla. – Florida’s housing market in August reflected similar trends as the past few months – statewide median sales prices rose year-over-year while sales slowed, according to Florida Realtors®’ latest … Read more

Citizens Customers Getting Buyout Letters this Week

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About 300K Fla. homeowners with Citizens – Fla.’s “insurer of last resort” – will receive a letter that automatically transfers them to a private insurer if they don’t respond. MIAMI – A warning to Floridians with Citizens Property Insurance coverage: Check your mailbox. About 300,000 customers of the state-run insurer of last resort are receiving … Read more

Fed Holds Rates Steady but Suggests One in Future

It’s the second no-interest-rate-change decision over the past three meetings. Inflation is still above 2%, however, and the Fed says a future increase is still likely. WASHINGTON (AP) – The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight … Read more

Aug. Housing Starts Drop 11.3% as Rates Rise

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Multifamily starts took the hardest hit, falling 26.3%. Single-family starts fell 4.3% month-to-month, though they were up year-to-year by 2.4%. WASHINGTON – Led by a sharp decline in multifamily production, overall housing starts fell 11.3% in August to a seasonally adjusted annual rate of 1.28 million units, according to a report from the U.S. Department … Read more

What Happens to RE if the Government Shuts Down?

No two shutdowns are the same, but the feds would be less responsive. Some RE products – FHA, VA and Rural Housing loans, flood insurance – may see an immediate impact. ORLANDO, Fla. – The federal government’s fiscal year ends Sept. 30, and Congress has not yet approved an extension, with several lawmakers threatening to … Read more

Builder Confidence Drops Into Negative Territory

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NAHB’s monthly index (1-100) based on a survey of builders’ attitudes dropped 5 points to 45 in Sept., largely because of rising 7%-plus mortgage rates. WASHINGTON – Builder confidence in the market for newly built single-family homes in September fell five points to 45, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing … Read more