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COVID-19 created yet another problem: A U.S. shortage of dishwashers, refrigerators, washers and dryers. Freezers disappeared first when consumers started hoarding food.
Anchor Property and Casualty claimed an assignment-of-benefit claim was constitutionally illegal. So far, a lower court agreed but Anchor lost in a court of appeal.
In Fla., almost 10M residents live in one of 48,500 communities with a homeowners’ association or condo board. The number is second only to Calif, which has 49,200 HOAs.
From March to now, listings are down by about 400,000. In three Fla. metros, it’s down over 40%; in two others, time-on-market dropped by more than 20 days.
HUD recently weakened a rule to affirmatively promote fair housing goals, and NAR objected to the decision. NAR’s director of fair housing policy says the policy is “baked into the original Fair Housing Act of 1968,” and “a step backward in the drive toward equal housing opportunity.”
What did you miss from Florida Realtors Virtual Convention? Will inventory increase? When will Canadian buyers return? Will Fla. see a rash of foreclosures hit the market?
Survey: 35% of agents boosted marketing during the pandemic; 17% cut back. And while 57% plan to keep current plans in place, 30% will pull back from third-party portals.
The state-owned insurer tried to cut down on the number of policies in its portfolio, but it now expects an “extraordinary” increase up to 540K policies by the end of 2020.
Hope for weekly unemployment benefit extensions, business aid and stimulus checks faded even more after Washington turned its focus to a Supreme Court vacancy.
Freddie Mac reported that the average rate on the 30-year home loan edged up to 2.90% from last week’s 2.87%. One year ago, the 30-year FRM averaged 3.64%.
Brokerage services will focus mainly on Zillow Offers iBuying deals, according to the company. Zillow, which has said for years it would not open its own real estate firms, will debut one in three U.S. cities – none in Fla. – then expand to other locations over time.
The August surge follows a 13.9% increase in July as low interest rates and a skimpy existing-home inventory drive buyers to new construction.
An inspection costs a few hundred dollars now yet could save buyers tens of thousands of dollars later. Still, bidding wars and an inspector shortage have stifled demand.
The federal agency behind Fannie Mae and Freddie Mac says July home prices rose 1% above June home prices and 6.5% in a year-to-year comparison.
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