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It’s the second week in a row for a notable drop in rates as non-inflation-rate factors influence demand. A few weeks ago, average 30-year rates were higher than 7%.
It’s easy for non-real estate people to watch news stories and think, “The market’s crashing.” But it’s just slowing during a market correction and still up year-to-year.
Consumers don’t pay for reinsurance – but property insurers do as a kind of “insurance for insurers.” Rate increases add another challenge to Fla.’s RE market.
The GSE’s economic and research group thinks the U.S. hasn’t seen the full impact of higher mortgage rates yet, but 2024 will be better after a slow-down year.
Climate change and recent storms have more older adults rethinking a coastal location. It’s not a fear of storms – it’s a fear of having to rebuild in their 80s.
Shamrock Road in Tampa will have a first for the area: a 3BR, 2-bath 3-D printed home listed for $599K. Robotic “hands” will layer concrete to make the walls.
The Wall Street Journal polled economists who predicted a 5.5% drop in Oct. new-home sales – but the Census Bureau and HUD release reported a 7.5% increase.
The Fla.-owned “insurer of last resort” continues to grow quickly, hitting 1,107K policies on Nov. 3. Previously approved rate hikes went into effect on Nov. 1.
CEO Bob Goldberg met with White House officials and other industry reps to discuss the nation’s housing supply and affordability constraints.
FEMA gave some Fla. homeowners extra time to renew flood insurance due to the storms, and reps are going door-to-door to contact 11K owners who can still do so.
A West Kendall HOA’s now-terminated board members allegedly stole millions. A court-appointed receiver was named and attorneys now have access to records.
There are always options, and while some detail – like submitting forgotten docs – may quickly solve the problem, other fixes take a bit more time.
The program, funded by the Fla. Legislature, offers free wind-mitigation home inspections and up to $10,000 in storm mitigation grants for some Fla. homeowners.
Homebuyers with FHA loans for flood-zone homes have more options starting Dec. 21, providing private flood insurance “conforms to FHA requirements.”
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