Home Buying

DeSantis Signs ‘Live Local Act’ Into Law

Gov. DeSantis signed SB 102, the broad-based pro-housing bill backed by Florida Realtors, into law on Wed. It “does so many amazing things,” says Pres. Mike McGraw. NAPLES, Fla. – Gov. Ron DeSantis signed Senate Bill 102, known as the “Live Local Act,” on Wednesday morning. The bill creates a comprehensive, statewide workforce housing strategy … Read more

Russian Oligarch Hunt Impacts Foreign Investors

The U.S. sanctioned many Russians who now cannot buy U.S. real estate. But identifying corporate ownership is tricky, and FinCEN is looking at all foreign buyers. WASHINGTON – On January 25, 2023, the Financial Crimes Enforcement Network (FinCEN) issued an alert that could significantly impact the acquisition of commercial real estate (CRE) in the U.S. … Read more

Will Bank Turmoil Create Mortgage Challenge?

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Buyers may need to shop around for a mortgage. If clients pulled money from a regional bank or deposits went down, the bank may make it harder to qualify. NEW YORK – Banking center unrest could make it more difficult for some consumers to get a mortgage loan or a loan for other big-ticket items. … Read more

Fake Property Insurer Stole Homeowners’ Money

U.S. Attorney’s Office: A Pensacola man created a fake insurance company, sold policies, kept premiums, and led homeowners to falsely believe they had coverage. PENSACOLA, Fla. – An insurance company is permanently shut down after dozens of clients paid over $4.8 million for policies that were fake, federal officials said. Instead of buying insurance for … Read more

Is Being a Landlord Worth It?

Real estate is a time-tested, tried-and-true investment for people who can afford it, but it also involves work. Not everyone wants to be a landlord. NEW YORK – Real estate has been a popular investment for a very long time – for those who can afford it. But in recent years, trends such as house … Read more

Opinion: Rates of 2% Aren’t Good for the Industry

Nest Seekers Chief Economist Erin Sykes says the market’s long-term health works best if rates stay in the 6% range. After a 2% flash sale ends, sellers just hunker down. NEW YORK – While mortgage rates may have dipped slightly this week due to several bank failures, five consecutive weeks of increases have undone the … Read more

Spring Buying Season Will Be a Challenge for Buyers

LOS ANGELES (AP) – Homeownership is likely to remain a pipe dream for many Americans this spring homebuying season. The nation’s worst housing slump in nearly a decade stoked hope among prospective buyers that homes could be scooped up more easily. But while prices appear to have peaked last summer, they still ended 2022 higher … Read more

Study: Almost 50% of Sellers Making Concessions

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Nationally, it’s 45.5%, though slightly less in the two Fla. metros noted: 41.7% in Miami (up from 31.8%) and 41.3% in Orlando (up from 33.3%). SEATTLE – Home sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending Feb. 28, 2023, in a year-to-year comparison, according … Read more

Some Homeowners Regret Pandemic Purchases

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A number of people who bought homes during the bidding wars – often foregoing inspections and making offers sight-unseen – are discovering problems with the property. NEW YORK – Some homeowners who bought their homes during the pandemic say they are starting to feel some buyer’s remorse, especially those who bought their homes sight unseen. “I … Read more

Is the Media Keeping Buyers in a State of Fear?

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One year ago, mortgage rates started their rise, and people scrambled to buy homes. That means stats comparing March 2023 to March 2022 won’t make a lot of sense. CHICAGO – Are negative headlines about the housing slowdown giving homebuyers the jitters just as the busy spring season approaches? Homebuilders think so. Nearly 80% of … Read more