ChatGPT fake writing can now be used with software that imitates voices. That means a seemingly personal call from a client, title agent or friend could be a scam. NEW YORK – You have just returned home after a long day at work and are about to sit down for dinner when suddenly your phone … Read more
There is no “right way” to plan an estate – but there are wrong ways. Plans could include wills, life estate deeds, trusts and joint tenancy, individually or in combination. FORT LAUDERDALE, Fla. – Question: My daughter wants me to put my apartment into a joint tenancy with survivorship to make things easier when I … Read more
A Newsday report on Long Island, N.Y., housing discrimination led the state’s attorney general to investigate. This week she announced a settlement with Coldwell Banker. NEW YORK – Attorney General Letitia James announced on Wednesday a settlement with Coldwell Banker, putting an end to the real estate brokerage’s alleged discriminatory practices against Black, Hispanic, and … Read more
After five weeks of increases, the average rate for a 30-year, fixed-rate mortgage fell to 6.6% from last week’s 6.73%. One year earlier it was 4.16%. NEW YORK – The average long-term U.S. mortgage inched back down this week after five straight weeks of increases – good news for homebuyers as the housing market’s all-important … Read more
Multifamily starts surged 24% in Feb., suggesting future relief for renters and condo buyers, but single-family starts rose only a marginal 1.1%. WASHINGTON – Hopes for a surge in new single-family homes failed to appear in February, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau – but overall … 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
Nationally, it’s 45.5%, though slightly less in the two Fla. metros noted: 41.7% in Miami (up from 31.8%) and 41.3% in Orlando (up from 33.3%). SEATTLE – Home sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending Feb. 28, 2023, in a year-to-year comparison, according … Read more
The agencies’ “statement of interest” in an appraisal bias court case says lenders can’t rely on an appraisal if they knew, or should have known, it was discriminatory. WASHINGTON – The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) filed a Statement of Interest in the United States District Court for the District … Read more
In Central Fla., an increased number of homeless people is “almost exclusively the result of rising housing costs,” says the director of the Homeless Services Network. ORLANDO, Fla. – Homelessness appears to be worsening in Central Florida, though agencies paid to house more than 3,400 people last year. An ongoing housing crisis and soaring rents … Read more
A major bank failure has scared investors. It’s unclear if things will get worse, but financial stress could lower mortgage rates and push the Fed to reconsider rate increases. NEW YORK – The failure of Silicon Valley Bank and Signature banks has scared investors. If a bank the size of Silicon Valley can go under, … Read more
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