Freddie Mac Chief Economist: “New data indicate inflationary pressures are receding” – which, along with lower mortgage rates, may lure more homebuyers into the market. JONESBORO, Ga. – Mortgage rates have fallen for three straight weeks, with the 30-year fixed rate averaging 7.44% Thursday, down from 7.5% a week earlier, according to Freddie Mac. But the … Read more
WASHINGTON (AP) – Long past its painful peak, inflation in the United States may be heading steadily back toward its pre-pandemic levels, without the need for further interest rate hikes by the Federal Reserve. Such a scenario became more likely, if hardly guaranteed, after Tuesday’s surprisingly tame report on consumer prices for October. The Labor … 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
NAR attorneys: Real estate professionals should maintain clear communication with clients about the services they provide and how they get paid. Anaheim, Calif. – The Sitzer/Burnett verdict does not prohibit the practice of making offers of cooperating compensation, NAR attorneys said this week at NAR NXT, The Realtor® Experience. Listing brokers decide how much compensation … 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
Gas, cars and airfare cost less last month. Prices rose 3.2% year-to-year in Oct. – still higher than the Fed’s 2% goal – for the smallest increase since June. WASHINGTON (AP) – Inflation in the United States slowed last month in a sign that the Federal Reserve’s interest rate hikes are continuing to cool the … Read more
Gov. Ron DeSantis signed bills passed during the recent special session, including up to $10K for owners to harden homes and more aid for Hurricane Idalia victims. TALLAHASSEE, Fla. – On Monday, Gov. Ron DeSantis signed four bills passed during a special legislative session last week, including measures to fund the My Safe Florida Home … Read more
A super-sized team ups the chances that someone can handle any buyer that comes your way, but a niche-focused team can dominate a specific market area. NEW YORK – Real estate teams are flexing their might in today’s market, using economies of scale to gain a competitive edge. As agents consider switching to this model, … Read more
ATLANTA (AP) – Along a busy Atlanta residential road, a 68-year-old Vietnam War-era Army veteran has found what he calls a “match made in heaven.” Harold Tilson Jr. found himself homeless earlier this year but for the past few months has been living in transitional housing run by the nonprofit Veterans Empowerment Organization, or VEO. … Read more
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