NEWS
Successful scammers prey on vulnerabilities, and, like vultures to carrion, they consider the growing number of worried homeowners an easy target.
The instant-offer company announced another expansion into the Port St. Lucie area. Offerpad also has agreements with builders for buyers seeking new construction.
The short-term rental firm has a rule against unauthorized parties, but enforcement has been lax. Airbnb is also bolstering rules on parties to avoid future problems.
The real estate market is better than before the pandemic, according to realtor.com’s weekly index, as a third Fla. metro area rose into positive territory.
There’s never been a better time to sell a home. Fla. had only a 2.8-months’ supply of single-family homes in the second quarter – the lowest amount since at least 2008. Economists generally consider a six-month supply to be balanced between buyers and sellers.
The average 30-year, fixed-rate loan rose to 2.96% this week compared to last week’s record-breaking 2.88%. One year ago, the 30-year FRM average 3.6%.
“Can you use money from a 401(k) to buy a house?” The number of consumers asking that question rose 2,800% in the past three months.
Census Bureau data finds that pandemic-caused housing stress hit minority populations hardest – 1 out of 5 owners had a problem paying June’s rent or mortgage.
At the end of the second quarter, the U.S. had 1.57M existing homes for sale – 18.2% less than a year ago and equivalent to a 4-month supply at the current sales pace.
The answer impacts commercial and residential sales. Some employees want to go back, but a few might be surprised to find it's mandatory. Employers say it affects hiring.
Federal payouts, no commuting costs, stay-at-home orders and recession fears pushed Americans to stockpile money – the savings rate skyrocketed to 33.5% in April and a still-respectable 19% in June. If a vaccine is perfected, will that money flood back into the market?
2Q median prices up, sales down year-over-year. Chief Economist O’Connor expects sales to continue to improve, though a single-family inventory shortfall is an issue.
In earlier times, a pandemic + recession would have slowed the market, but today’s unique circumstances seem to have sparked an even stronger demand for homeownership.
Realtors and local government can work together as a team to prevent property vacancies and abandonment. The next webinar is Aug. 25 at 2 p.m.