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Commercial Real Estate: Opportunities and Challenges Abound
by kerrys on October 15, 2021 at 8:10 am
Florida Realtors economist: Real estate’s residential side has been on fire since summer 2020. How has the commercial side fared? It’s hot – and it’s not. It depends on where you look. The delta variant of COVID-19 slowed the office market even as it relit a fire under other commercial […]
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Report: Fla. Closing Costs Are 2.32% of Home Price
by kerrys on October 15, 2021 at 8:10 am
In the U.S., closing costs, including taxes, were up 10.5% year-to-year, and almost $7K for an average price home. In Fla. it’s a bit higher: $8.5K for the average home.
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Fla.-Owned Insurer’s CEO Cites ‘Sea of Red Ink’
by kerrys on October 15, 2021 at 8:10 am
The head of Citizens Property Insurance calls losses among all state insurers “absolutely staggering.” He blames the marketplace itself, saying it impacts every company.
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White House Targets Economic Risks from Climate Change
by kerrys on October 15, 2021 at 7:10 am
A new 40-page report takes a broad view on steps being taken to mitigate risks, including possible HUD and VA buyer disclosures on flood and climate-related threats.
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U.S. Funding More Multifamily in 2022 – 50% Must be Affordable
by kerrys on October 15, 2021 at 7:10 am
The U.S. will increase loan caps for multifamily housing by 11.4% next year, and 50% of the $156B total ($140B this year) must go to “mission-driven affordable housing.”
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How Many Offers Did the Typical 2021 Buyer Make? Two
by kerrys on October 15, 2021 at 7:10 am
While stories about multiple offers and foregone inspections are pervasive, a study found that most buyers won by their second bid and 88% had a home inspection.
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U.S. Foreclosures Soar – But They Also Fall
by marlam on October 14, 2021 at 9:10 am
In 3Q, the number of U.S. foreclosures surged 67% year-to-year as homes exited forbearance and bans ended. But compared to “normal” 3Q 2019, they’re down 60%.
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Mortgage Rates Surpass 3% Again – Hit a 6-Month High
by marlam on October 14, 2021 at 9:10 am
Average mortgage rates continue to hover around 3%, but they’ve slowly ticked higher. This week, the 30-year, fixed-rate mortgage averaged 3.05%.
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Many Condo Appraisers Will Start Assessing Building Safety
by marlam on October 14, 2021 at 9:10 am
In response to the Surfside condo collapse, Fannie Mae says its condominium loan decisions after Jan. 1 will include a stronger look at the overall condo building. Loan decisions will consider current or planned special assessments and any deferred maintenance issues.
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U.S. Land Border Plan: Vaccinated Canadians Can Return in Nov.
by marlam on October 14, 2021 at 9:10 am
Officials say Canadians can start returning in early Nov. if they’re fully vaccinated. One twist: It’s unclear if that includes Canadians who got two different vaccines.
