The state-owned insurer requested a maximum 12% hike for most residential policies and must go lower. But a condo association hike was approved at 9.2%. TALLAHASSEE, Fla. – Regulators have ordered the state-backed Citizens Property Insurance Corp. to revamp – and trim – proposed rate increases. Florida Insurance Commissioner Michael Yaworsky signed an order Friday … Read more
Inventory is low and many current homeowners with low mortgage rates aren’t budging. In marketing, it’s time to cast a wide net. LAS VEGAS – On the first day of the Inman Connect event in Las Vegas, top realty agents revealed their strategies for managing the stubborn problem of low inventory. Nneka Jenkins with Onyx … Read more
Of all homes buyers could consider in the second quarter, 31.4% were new construction – the highest 2Q percentage on record. Pre-pandemic it was 17%. SEATTLE – Newly built homes made up nearly one-third (31.4%) of all single-family home listings on the market nationwide in the second quarter, according to a report from Redfin, the … Read more
Mosquito-borne illnesses have spiked in Florida – dengue, malaria, chikungunya and West Nile Virus – due largely to an international visitor increase. MIAMI – This year’s spike in international travel has brought more than 200 cases of mosquito-borne illnesses to Florida, including dengue, malaria, chikunguny and West Nile Virus. When it comes to dengue fever, … Read more
Some discouraged buyers should stop looking for their “forever home” and start looking for their “get my foot in the door to start building equity” home. NEW YORK – The average rate on the standard 30-year fixed mortgage rose to 7.09%, according to Freddie Mac’s latest weekly survey. Some experts say that’s close to an … Read more
A 30-year, fixed-rate loan averaged 7.09% this week, its highest level since it was 7.13% in April 2002. It also exceeds a high of 7.08% hit last fall. WASHINGTON – The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years, grim news for would-be homebuyers already facing high home … Read more
Buffet’s company spent $700M to buy DR Horton stock and lesser amounts for two other builders, suggesting the investment guru sees profits via the new-home industry. OMAHA, Neb. (AP) – Warren Buffett’s company appears to be betting on the housing market picking up because Berkshire Hathaway bought more than $700 million worth of homebuilder DR … Read more
ORLANDO, Fla. – Aug. 17, 2023 – Florida Realtors® recognized Christina Pappas, 2022 Florida Realtors president, as its 2023 Realtor of the Year. The award – one of several – was presented Thursday during the state association’s annual Convention & Trade Expo at Rosen Shingle Creek in Orlando, Fla. The Realtor audience applauded as Pappas … Read more
“Livability” is subjective, but an exhaustive study attempted to rank states based on how happy they’ll make residents. Fla. was No. 6 – but No. 1 in some categories. ORLANDO, Fla. – Around 8.6% of Americans moved last year, a slight uptick from the year before. Some movers wonder if they should stay put or … Read more
NAHB’s Aug. index fell 6 points to 50 – the break-even point between optimism and pessimism – based on higher mortgage rates and increased construction costs. WASHINGTON – After steadily rising for seven consecutive months, builder confidence retreated in August as rising mortgage rates nearing 7% (per Freddie Mac) and “high shelter inflation have further … Read more
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