TORONTO – On January 1, 2023, the Canadian government’s Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act) and the associated Prohibition on the Purchase of Residential Property by Non-Canadians Regulations (the Regulations) came into effect. The Act prohibits “non-Canadians” – which, by virtue of the Regulations, includes entities formed outside of … Read more
While the phrase “not out of the woods yet” is still used, Redfin economists say the market probably hit its cycle-low trough the second week of Nov. 2022. SEATTLE – The housing market has begun to recover after hitting a low point in the second week of November, according to a report from Redfin. The … Read more
In 2022, new-home sales were down 16.4% compared to 2021, but falling mortgage rates have pushed sales higher recently. In Dec., they were up 2.3% month-to-month. WASHINGTON – New-home sales posted a modest gain in December, increasing 2.3% (seasonally adjusted annual rate) from a downwardly revised reading in November, according to newly released data by … Read more
FAU: Fort Myers metro renters pay 18.05% above long-term trends, along with Miami, North Port, Jacksonville and five Central Fla. metro areas. TAMPA, Fla. – The rent cost is high, and has been for a while, especially in Florida. As housing costs remain a significant driver of overall inflation, a new study by Florida Atlantic … Read more
NEW YORK – Wells Fargo & Co. confirmed Tuesday it is shrinking the size of its home-lending serving business as part of retrenching what had been the nation’s largest mortgage provider. Bloomberg News reported in an Aug. 14 article that Wells Fargo was pulling back from providing funds for mortgage loans made by third-party lenders, … Read more
A year-to-year comparison of rate increases finds the smallest jump in over a year. Rents rose less than that in 3 Fla. metros and were down 0.8% in Jacksonville. SEATTLE – The median U.S. asking rent rose 4.8% year-over-year to $1,979 in December – the smallest increase since July 2021, according to a report from … Read more
First, cleanliness does more for a sale than staging, so keep the home clean. Also consider different styles throughout to make the home appeal to a range of buyers. DES MOINES, Iowa – Misty Soldwisch, a broker/owner and team leader with Better Homes and Gardens Real Estate in Des Moines, says staging is essential to … Read more
In a slowing economy with rising interest rates, buyers’ needs change, and RE agents must adapt their skill set to serve this new type of homebuyer. NEW YORK – Some Wells Fargo economists says the housing market is undergoing a correction as home sales, builder confidence and single-family construction decline. According to homegenius Home Price … Read more
When asked about the Kick Out Clause vs. a Right of First Refusal, most Realtors say, “I know they’re not the same thing – but I can’t tell you how they’re different.” Here’s a rule of thumb: The Right of First Refusal usually stems from something external, such as HOA docs. ORLANDO, Fla. – Do … Read more
A condo seller secured a sales contract, but the condo association has Right of First Refusal and opted to buy the condo under the contract’s terms. If the seller doesn’t want to sell to the association, can they cancel the contract altogether? WEST PALM BEACH, Fla. – Question: Last June, I had intended to sell … Read more
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