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
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
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
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
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
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
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
“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
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
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
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