Florida Real Estate

NAHB: Biggest Growth of New Builds in Exurbs

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The new-homes’ growth rate fell in 3Q, as it did in the two previous quarters, says NAHB. Single-family and multifamily saw the biggest expansion in U.S. exurbs. WASHINGTON – For the third consecutive quarter, single-family growth rates were negative for all geographic sectors of the nation, as exurban areas posted the largest increase in market … Read more

Citizens Ins. Losing Policies but Still Fla.’s Largest

49K more policies could be moved out of Fla’s. “insurer of last resort” by Feb. 20, though it still has twice as many policies (1.4M) as No. 2 State Farm (630K). TALLAHASSEE, Fla. – Five property insurers have received approval to remove as many as 39,850 policies from the state’s Citizens Property Insurance Corp., with … Read more

$25M Available for Homeowners Impacted by Hurricane Idalia

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Newly allocated Hurricane Housing Recovery Program funds can be used to pay for repairs, insurance deductibles and down payments, among others. TALLAHASSEE, Fla. – Home and property owners in 18 Florida counties impacted by Hurricane Idalia may be eligible for state-backed funds for repairs and housing assistance. The Hurricane Housing Recovery Program provided $25 million … Read more

Court: Blasting Damage Covered by Insurance

An appeals court ruled that a property insurer had to cover damage caused by nearby rock blasting. The insurer said it was uncovered “earth movement.” TALLAHASSEE, Fla. – An appeals court Wednesday upheld a ruling that required a property-insurance company to cover damage that the owners of a Miami-Dade County home said was caused by … Read more

Fed Chair: Too Soon to Consider Interest Rate Cuts

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While inflation news remains positive month to month – 2.5% recently, just a bit above the Fed’s 2% goal – Chair Jerome Powell says it’s premature to declare victory. WASHINGTON (AP) – Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair … Read more

Foreclosure Pause Until May for VA-backed Mortgages

The VA asked mortgage servicers to pause foreclosures to help veterans at risk of losing their homes, but mortgage bankers have concerns. WASHINGTON – The Department of Veterans Affairs (VA) called on mortgage servicers to pause foreclosures on VA-backed loans for six months and extended a pandemic-era loan modification program that covers missed payments and … Read more

Lower Rates to Draw Buyers – Sellers Not so Much

While mortgage rates moving closer to 6% will draw buyers into the 2024 housing market, several economists don’t think it will create a similar rush of sellers listing their homes LOS ANGELES (AP) – Several housing economists are projecting that mortgage rates will ease moderately next year, though the forecasts call for the average rate … Read more

How to Recession-Proof a Business

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“No one has ever found themselves in a recession and said, ‘I wish I had less cash,’” says Jimmy Burgess, Berkshire Hathaway HomeServices Beach Properties of Florida CEO. ORLANDO, Fla. – According to Jimmy Burgess, CEO for Berkshire Hathaway HomeServices Beach Properties of Florida, there are seven important moves real estate professionals can make to … Read more

HUD Proposes 30-Day Pre-Eviction Notification Rule

If finalized, the current version of the proposed rule would require landlords in HUD programs to give nonpaying renters a 30-day notice before filing for an eviction. WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) published a Notice of Proposed Rulemaking in the Federal Register on Friday regarding tenant notifications in evictions … Read more

NAR: October Pending Sales Fell 1.9% in the South

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Nationwide, pending home sales fell 1.5% in October, but falling mortgage rates and a growing number of new builds are a harbinger of optimism. WASHINGTON – Pending home sales fell to their lowest levels in two decades in October, with the South seeing a moderate decline compared to the rest of the nation, the National … Read more