Florida Realtors® News

Fannie Mae: Recent slowdown nothing to fear

Tue, 21 May 2013 14:59:11 +0500

Federal budget cuts and other fiscal pitfalls slowed growth in recent months, but Fannie Mae economists expect little damage in the long run.

Realtors help Oklahoma tornado victims

Tue, 21 May 2013 15:01:58 +0500

Okla. Realtors' oversee the Oklahoma Housing Foundation, a 501(c)3 charity that is now accepting donations to help Realtors and others hurt by recent storms.

Commercial Realtors optimistic about market

Mon, 20 May 2013 13:55:41 +0500

Poll at NAR convention: Commercial market is a bit better this year and expected to improve even more in 2014. Multifamily and office doing well.

NAR: Housing and economic forecast solidifying

Mon, 20 May 2013 13:53:36 +0500

Growth in home sales and prices is helping to strengthen the economy; but easing credit restrictions and keeping the mortgage interest deduction remain key.

Some flood insurance policies to see rate hikes

Mon, 20 May 2013 14:01:42 +0500

About 20% of "subsidized" flood policies will see a premium increase each year until they're actuarially sound. But a new homeowner must pay it immediately.

Sequester could make FHA a tad less convenient

Mon, 20 May 2013 13:47:02 +0500

Don't hope for FHA action on some Fridays this summer, such as May 24. To save money under its mandate, HUD offices will close the day before a holiday.

Realtor from Fla. elected NAR first vice president

Mon, 20 May 2013 15:07:08 +0500

Tom Salomone, a Realtor from Coral Springs and 2003 Florida Realtors' president, was elected to the 2014 office at NAR's midyear meetings that ended Sat.

CoreLogic: 2012 big year for home price increases

Fri, 17 May 2013 13:28:03 +0500

Prices rose in six Florida cities tracked by the index, varying from a low of 3.5% in Jacksonville to a high of 13.5% in Miami. But expect less in 2013.

Is the mortgage interest tax deduction here to stay?

Thu, 16 May 2013 12:24:05 +0500

Maybe. Maybe not. Lawmakers kept the popular IRS deduction that saves homeowners money, but it could be in the crosshairs again later this year.

International migration to drive population growth

Thu, 16 May 2013 13:48:55 +0500

For the first time since at least 1850, immigration will feed U.S. population growth more than births, projects the U.S. Census Bureau.

No. of housing starts counters drop in foreclosures

Thu, 16 May 2013 13:09:17 +0500

RealtyTrac: National drop in foreclosures coming on the market is balanced out by a higher number of new home starts. Delray Beach tops for expected inventory.

Freddie Mac's streamlined modification debuts early

Wed, 15 May 2013 14:09:58 +0500

Most borrowers 90 to 720 days late on a Freddie Mac-owned loan can get an easy mortgage modification. Pay on time for three months and it's permanent.

April's new listings rose 3.12%, but more buyers began a search

Wed, 15 May 2013 14:18:09 +0500

The bad news: The number of potential homebuyers rose even more, keeping inventory tight in many areas, according to data compiled from realtor.com.

NAR: Short sale approval, valuation issues continue to impact housing market

Wed, 15 May 2013 14:19:55 +0500

Short sales make up 9% of the market but can be frustrating. New Fannie Mae and Freddie Mac policies should improve the process and help valuations.

Loans on Main St. could be impacted by fed choices

Wed, 15 May 2013 14:14:34 +0500

Possible regulatory changes can be confusing, but experts at NAR convention say a few upcoming decisions could help - or harm - homebuyers.

Realtors pounding pavement in Washington this week

Tue, 14 May 2013 14:14:43 +0500

NAR's Midyear Meetings take place in the U.S. capital through Saturday. More than 9,000 Realtors will meet lawmakers and promote a pro-homeownership agenda.

Land trusts band together for liability insurance

Mon, 13 May 2013 13:46:47 +0500

Land trusts in 46 states, including Florida, insure members against litigation. Nearly 60% of conservation land trusts are one person or volunteer operations.

IRA money can be used to fund an investment home

Mon, 13 May 2013 13:42:43 +0500

Under Section 408 of the IRS Code, you can invest a tax-sheltered IRA in a future retirement home if you follow specific rules. But don't try this alone.

Hurricane season kicks in before flood insurance

Mon, 13 May 2013 13:51:52 +0500

With a few exceptions, a new applicant for flood insurance won't receive coverage for 30 days, and Florida's hurricane season starts in 19 days - June 1.

Many buyers confused about mortgage process

Fri, 10 May 2013 13:58:36 +0500

Survey: One in four thinks a preapproval commits them to that lender, and 34% think lenders must, by law, charge the same fee for credit reports and appraisals.

Fla. foreclosures up as lenders speed up process

Thu, 09 May 2013 14:34:22 +0500

RealtyTrac: Fla. foreclosure auctions up 55% year-to-year in April as homes work through the court system - a step forward in the real estate recovery.

Fla.'s housing market shows momentum in 1Q 2013

Thu, 09 May 2013 14:38:49 +0500

Existing home sales up 10.2% year-to-year, price up 13.4%; condo sales up 3.2%, price up 18.4%. NAR: Sales up 9.8% year-to-year, single-family price up 11.3%.

Bubble or no bubble? Fed policy may be key

Thu, 09 May 2013 14:40:22 +0500

Pulsenomics survey: Economists are a bit more worried that a home price bubble could form, but it depends on how and when Fed eases keep-rates-low policies.

HUD settles Fla. maternity discrimination claim

Thu, 09 May 2013 14:42:16 +0500

SunTrust Mortgage and HUD settled a complaint that the lender allegedly denied a mortgage to a Port St. Lucie couple because the wife was on maternity leave.

Turning point: Over 50% expect home price increases

Wed, 08 May 2013 13:41:10 +0500

It's the first time in the three-year history of Fannie Mae's monthly survey that over half expected price gains. One year ago, only 32% held that rosy view.

CoreLogic: March home prices rise 10.5% year over year

Tue, 07 May 2013 14:00:33 +0500

CoreLogic: Month saw biggest year-over-year home price increase in seven years, and a 1.9% month-to-month rise. Prices dropped in only four states.

Software glitch slashes Citizens premium 92%

Tue, 07 May 2013 14:02:42 +0500

One homeowner who dropped sinkhole coverage saw his insurance premium drop from $2,977 to $246. At least 1,500 Citizens customers have benefited so far.

Realtor.com visitors will get more homebuying help

Mon, 06 May 2013 14:00:47 +0500

Move Inc., parent to NAR-owned Realtor.com, acquired Doorsteps, a program that helps buyers commit to homeownership and prepare for it.

HUD to sell 20,000 distressed loans to investors

Mon, 06 May 2013 14:14:42 +0500

The sale involves FHA loans on the brink of foreclosure. Investor-buyers can't foreclose for six months and are encouraged to help owners keep the house.

Orlando is best U.S. city to flip homes for profit

Thu, 02 May 2013 14:04:16 +0500

In which U.S. cities is a home flip - bought and resold in 90 days or less - most profitable? A RealtyTrac analysis determines that Fla. has five of the top 10.

Feds issue new fair housing construction guidelines

Wed, 01 May 2013 14:39:29 +0500

HUD and the Dept. of Justice say the new guidance should help developers understand and meet their obligations to provide access for disabled persons.

Florida's consumer confidence keeps rising

Wed, 01 May 2013 14:29:17 +0500

UF study: Floridians don't seem bothered by federal budget cutting. Their outlook bounced three points higher to 79 in April, the second monthly increase.

CoreLogic: Foreclosure inventory down 23% in March

Tue, 30 Apr 2013 12:37:28 +0500

Completed foreclosures dropped 16% year-to-year and 52% since 2010 peak, though they rose 6% month-to-month. Fla. remains the top state for foreclosures.

Consumer confidence bounces back in April

Tue, 30 Apr 2013 12:32:18 +0500

A 6.2 gain to 68.1 beat estimates from economists. Conference Board attributes rise to improved attitudes about personal income and the short-term outlook.

NAR: Pending sales rise modestly as inventory tightens

Mon, 29 Apr 2013 13:50:29 +0500

NAR: Pending sales rose 1.5% month-to-month and 7% year-to-year, but recovery slows because the supply of homes isn't keeping up with buyer demand.

Need-to-know home buying info for first-timers

Mon, 29 Apr 2013 13:55:10 +0500

Advice for buyers: A little planning can ease headaches. Potential buyers should first check their credit score and determine how much house they can afford.

U.S. considers mortgage interest deduction change

Fri, 26 Apr 2013 13:03:12 +0500

Should the U.S. keep the home mortgage interest deduction in the tax code? A U.S. House committee took testimony yesterday from NAR and other interest groups.

HUD closing two Fla. field offices

Thu, 25 Apr 2013 14:09:56 +0500

The Orlando and Tampa offices will close as part of a national realignment. Nationwide, HUD will shut down 16 out of 80 offices by early 2014.

Later marriage trends don't postpone homeownership

Wed, 24 Apr 2013 12:44:32 +0500

Study: Today's young adults marry later than their parents did, but they're not also delaying homeownership. In more cases, a home buy precedes the wedding.

App upgrade allows home search by school district

Wed, 24 Apr 2013 12:41:59 +0500

Realtor.com says it's the first real estate search app that permits buyers to target only home listings that fall within specific school or district boundaries.

Fla. adds 400K names to do-not-call list in one year

Tue, 23 Apr 2013 14:17:29 +0500

Realtors need to check both state and federal do-not-call lists. Fla. had 71,460 names on its list last year when people had to pay a fee. Now there are 464,047.

Fla. Realtor NAR 'Volunteering Works' winner

Tue, 23 Apr 2013 14:19:08 +0500

Robert Schwartz with LaRosa Realty in Celebration co-founded program to help 100 kids without permanent housing. He'll receive $1,000 and one-on-one mentoring.

Group says immigration reform could help real estate

Mon, 22 Apr 2013 13:50:23 +0500

Real Estate Roundtable: Overhaul could help full gamut of real estate if visa reforms are pro-growth. On the flip side, bad policy could slow economic recovery.

Florida's housing market on upswing in March

Mon, 22 Apr 2013 13:57:48 +0500

Existing home sales up 9% year-to-year, price up 15.2%; condo sales up 1.1%, price up 15.9%. NAR: Sales up 9.1% year-to-year, single-family price up 12.1%.

Fla. ranks No. 6 for taxes paid by small businesses

Fri, 19 Apr 2013 14:32:22 +0500

Small business study: Researchers looked at all taxes imposed by a state and compared total tax burdens. In Fla., small businesses did relatively well.

Oil the hinges: Open House Weekend is here

Fri, 19 Apr 2013 14:38:18 +0500

Put your best faandccedil;ade forward, says NAR president. Sellers should prep their home for visitors as buyers are creating checklists and gassing up the car.

Fla. unemployment rate continues to fall

Fri, 19 Apr 2013 14:27:39 +0500

In March, Fla. saw 32,400 new jobs and hit its lowest unemployment rate since 2008. The increase in employment feeds home sales, even as home sales create jobs.

Fla. metro construction up 15.3% year-over-year

Fri, 19 Apr 2013 14:28:36 +0500

BidClerk: Building in major Fla. metro areas increased substantially in the first quarter - 0.8% in private construction and 25.4% in public construction.

Study: A smoker's home can lower value up to 29%

Thu, 18 Apr 2013 13:49:13 +0500

A Canadian firm polled real estate agents and found that smoking can cost a homeowner more than his health. Almost 2/3s said it lowers home values at least 10%.

Broker to pay $39K fair housing violation

Wed, 17 Apr 2013 14:00:00 +0500

A Mass. attorney who added a restrictive contract covenant will also pay $39K. HUD says seller, real estate agent and attorney must all obey fair housing laws.