IRVINE, Calif. – Home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5% return on investment, according to Attom’s Year-End 2023 U.S. Home Sales Report. But even as both gross profits and profit margins remained near record levels, they decreased from 2022, marking the first declines in either category since … Read more
Panhandle residents with housing issues caused by the Jan. 9 severe weather are urged to apply for the RRF grant money to help their recovery efforts. ORLANDO, Fla. – The National Association of Realtors®’ (NAR) Realtors Relief Foundation announced a $100,000 grant to Florida Realtors® to help Panhandle residents with housing issues resulting from disastrous … Read more
Agriculture in the Big Bend region of Florida took the hardest hit while the storm surge wreaked havoc on businesses, homes and infrastructure. TAMPA, Fla. — A report from the National Hurricane Center estimates damage from Idalia to be around $3.6 billion, most of which occurred in the Big Bend region of Florida’s Gulf Coast. The … Read more
MIAMI – With the cost of homes out of reach for many families, developers in South Florida are now adding annexes to new construction, allowing relatives to live under the same roof. The extra space comes with a room or two and its own kitchen, much like those in-law quarters added to older homes. The built-in apartments … Read more
More inventory potentially hitting the market paired with stabilizing interest rates allows buyers some breathing room, NEFAR president says. JACKSONVILLE, Fla. – According to Northeast Florida Association of Realtors data, the median price for a single-family home increased over $23,000 between January and December last year, with the median price ending the year at $384,750, … Read more
OpenAI’s new text-to-video generator, called Sora, produces high-quality videos that have astounded observers. SAN FRANCISCO – San Francisco-based OpenAI’s new text-to-video generator, called Sora, isn’t the first of its kind. Google, Meta and the startup Runway ML are among the other companies to have demonstrated similar technology. Links to /news-media/news-articles/2024/02/ai-adoption-reshaping-real-estate Artificial intelligence use is on … Read more
Regulators OK’d a plan for insurer Condo Owners Reciprocal Exchange to assume up to 400 “commercial residential” policies – that cover condo buildings – from Citizens. TALLAHASSEE, Fla. – Florida regulators last week approved a plan that could lead to condominium-association policies leaving the state’s Citizens Property Insurance Corp. The plan will allow insurer Condo … Read more
NEW YORK – In back-to-back months, Mr. Cooper and LoanDepot — two of the nation’s largest mortgage lenders — made headlines for experiencing cyberattacks that exposed the data of more than 30 million people combined. Mortgage lenders haven’t been the only recent targets. Title insurance companies Fidelity National Financial and First American Financial each experienced … Read more
Rates on 30-year mortgages ticked up this week, but forecasters remain optimistic they will hover around 6% by the end of the year. LOS ANGELES — The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season. The average … Read more
NEW YORK — Money might not be the most romantic topic for Valentine’s Day, but talking about finances with your significant other is a key element of a healthy relationship. Money problems are one of the most common reasons couples separate, said Emily Simonian, head of clinical learning at Thriveworks, a mental health company. In … Read more
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