MIAMI – Some people trying to buy a condominium in South Florida but getting mysteriously rejected for a mortgage could be in for a jolt: The reason they can’t get a loan may be that the condo is on a secret quasi-governmental blacklist. News media reports and data leaks to a pair of law firms … Read more
New building codes and regulatory changes are in the future as Southwest Florida continues to recover from Hurricane Ian’s wrath. FORT MYERS BEACH – When it comes to once-in-a-generation hurricanes and Florida’s real estate market, one thing is clear: change is afoot. Consider Hurricane Andrew. More than three decades ago, that deadly 1992 storm … Read more
While mortgage rates moving closer to 6% will draw buyers into the 2024 housing market, several economists don’t think it will create a similar rush of sellers listing their homes LOS ANGELES (AP) – Several housing economists are projecting that mortgage rates will ease moderately next year, though the forecasts call for the average rate … Read more
NAR Chief Economist Yun: Except for office space, commercial property rates are expected to stabilize, though higher interest rates are impacting commercial loans. ANAHEIM, Calif. – Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun. Yun presented yesterday … Read more
Economist Lawrence Yun predicts that home sales will rise by 15% next year, and by spring, mortgage rates will hover in the 6% to 7% range. ANAHEIM, Calif. – National Association of Realtors® (NAR) Chief Economist Lawrence Yun looked the current state of the U.S. residential real estate market and shared his 2024 outlook yesterday … Read more
FORT LAUDERDALE, Fla. – After Rich Engels’ mother died earlier this year, Engels decided to sell her condo unit in Sunrise Lakes Phase 4. He lined up a buyer, but he said the deal fell apart after the lender learned that the condo building had no wind insurance. Lenders won’t approve mortgage loans on buildings … Read more
More people are adding property investments to their retirement portfolios. If added cautiously, it can be a viable hedge against the volatility of stocks and bonds. NEW YORK – In light of the uncertain and volatile nature of investment markets, many individuals are seeking to enhance their retirement savings beyond employee pension funds or retirement … Read more
YANKEETOWN, Fla. (AP) – A freshwater spring bubbles amid the mangroves, cabbage palms and red cedars on Sweetheart Island, a two-acre uninhabited patch of paradise about a mile off the coast of this little Gulf Coast town. Pelicans divebomb nearby into the cool waters of Florida’s Withlacoochee Bay and the open view westward holds the … Read more
Tracy Kasper calls the ruling “disappointing, (but) just one chapter in a longer legal process.” She answers some key questions, including: How does this affect my business? CHICAGO – National Association of Realtors® (NAR) President Tracy Kasper released a series of Q&As based on questions NAR has been receiving since the verdict in the Burnett … Read more
The scams begin with a hunt through public records for vacant land, an absentee owner and no mortgage. Look for red flags, like a refusal to talk in person. CHICAGO – Real estate professionals should watch for these red flags in the course of the transaction. The FBI’s Internet Crime Complaint Center warns that losses … Read more
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