MIAMI – Six years ago, Tanjim Hossain and his wife, Christine Oliver, bought a single-story house on a corner lot dotted by palms in pedestrian-friendly North Miami. They had just sold their first house in Homestead and wanted to move to a more walkable neighborhood closer to their jobs. Since then, they welcomed their son … Read more
When the pandemic hit, vacation sales soared until mortgage rates rose and fewer owners listed their homes. The result: Second-home mortgage-rate locks are down 52%. SEATTLE – Due in part to higher mortgage rates, it’s a difficult time to buy a second home. In March, rate locks for second homes were down 52% compared to … Read more
Florida Realtors economist: Maybe a seller wants to overprice their home? A buyer insists on low bids? Statistics can help you focus on facts rather than falling prey to emotions. ORLANDO, Fla. – There’s no doubt: Today’s real estate market bears little resemblance to the one from 2021-2022. High sales prices plus high interest rates … Read more
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
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
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
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
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
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
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
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