Home Selling

Fed Raises Interest Rates a Quarter Point

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WASHINGTON (AP) – The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate by a quarter-point despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system. “The U.S. banking system is sound and resilient,” the Fed said in a statement after its … Read more

RE Q&A: What’s the Right Way to Plan My Estate?

There is no “right way” to plan an estate – but there are wrong ways. Plans could include wills, life estate deeds, trusts and joint tenancy, individually or in combination. FORT LAUDERDALE, Fla. – Question: My daughter wants me to put my apartment into a joint tenancy with survivorship to make things easier when I … 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

Good Inflation News Offset by Bank Failure Fears

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Job reports, hourly earnings and price data suggest inflation may be slowing even as bank troubles stir recession fears. But a bond-price drop could help lower mortgage rates. NEW YORK (AP) – Stocks are falling Friday as worries flare about the banking system and the painful effects of high interest rates meant to drive down … Read more

Fannie: Housing Sentiment Nears Record Low

After three increases, Fannie Mae’s monthly consumer index found a 3.6-point drop in Feb. when 44% of owners said it’s a bad time to sell, up from 39% in Jan. WASHINGTON – After six uplifting weeks of positive inflation reports, the economy turned on a dime when it became clear inflation had not yet been … Read more

Is It a Good Time to Sell Your Home?

Buyers are more focused on a home’s asking price in the face of higher interest rates. In a sellers’ market, pricing too high may work. Now it might be a deal breaker. ©Florida Realtors® Source link

Gov’t TikTok Bans: Still OK for Marketing?

WASHINGTON – The United States is ratcheting up national security concerns about TikTok, mandating that all federal employees delete the Chinese-owned social media app from government-issued mobile phones. Other Western governments are pursuing similar bans, citing espionage fears. So how serious is the threat? And should TikTok users who don’t work for the government be worried … Read more

Jan. New-Home Sales Surge 17.1% in the South

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Overall, Jan. new-home sales rose 7.2%, but the South’s 17.1% carried the three other areas that saw a decline. The Northeast saw the biggest drop at 19.4%. WASHINGTON – Sales of newly built, single-family homes in January increased 7.2% to a 670,000 seasonally adjusted annual rate from an upwardly revised reading in December, according to … Read more

Commercial Brokers Open to Off-Market Deals

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NEW YORK – As commercial real estate investors face a reset in property values, finding off-market deals is becoming increasingly more attractive. Investors expect that they will get a better deal if they don’t have to compete for properties through a bidding process, in addition to enjoying a more straightforward path to a closing, according … Read more