The Chinese gov’t cracked down and lots of developer defaults in mid-2021 threatened world financial markets. But the crisis appears to have passed. BEIJING (AP) – China’s vast real estate industry is recovering from a slump triggered by tighter debt controls, a deputy central bank governor said Friday, after a wave of defaults by developers … Read more
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
Residents of communities that require hurricane-resistant homes get a break on the cost of flood ins., but does it lower FEMA’s overall costs? A study says yes. WASHINGTON – The Federal Emergency Management Agency’s (FEMA) Community Rating System (CRS) provides financial incentives to communities that mitigate against storm damage, essentially, “We’ll charge you less for … Read more
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
Not revealing known property defects to a buyer – a common problem in real estate, studies show – can land you in court. Follow these best practices to avoid liability. CHICAGO – When a homebuyer discovers a property defect that wasn’t disclosed by the seller or listing agent, the buyer may sue, claiming the home … Read more
Attitudes turn positive: A monthly UF study of Floridians saw a 1.9-point increase overall, with a rise in current expectations as well as expectations for the future. GAINESVILLE, Fla. – In February, consumer sentiment among Floridians increased 1.9 points to 67.2 from January’s revised figure of 65.3. A similar national consumer sentiment index increased 2.1 … Read more
Owned by RMK Financial, the lender was shut down for repeated offenses, notably lying to military families applying for VA loans. WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) permanently banned RMK Financial Corporation, which does business as Majestic Home Loans. In 2015, CFPB issued an agency order against RMK for, among other things, … Read more
Due to a “surprisingly resilient economy,” 58% of survey economists still predict a recession this year, but half as many think it will happen in the first quarter. WASHINGTON (AP) – A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series … Read more
In general, technology simplifies complicated tasks. It’s doing that now with writing, and it’s expected to soon speed up the mortgage-approval process. NEW YORK – Real estate already uses automation technology for various applications, including machine-learning algorithms that can identify homeowners likely to put their property up for sale in the immediate future. Chatbots can … Read more
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
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