Tag: Florida

Fla. Insurance Pressures Continue After Nicole

Despite pounding parts of the East Coast, Hurricane Nicole will not hit Florida’s insurance market as hard as Hurricane Ian. CoreLogic, a property-information and analytics firm, released an early estimate Friday that said Nicole’s privately insured losses will be less than $750 million. The modeled estimate represented “gross” losses, which typically means insurance carriers would…
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New-Home Sales Drop 10.9% in Sept.

Rising mortgage rates approaching 7% along with declining builder sentiment stemming from stubbornly high construction costs and weakening consumer demand pushed new-home sales down at a double-digit rate in September. Following a brief uptick in August, sales of newly built, single-family homes in September fell 10.9% to a 603,000 seasonally adjusted annual rate, according to…
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FHA Proposal: More Manufactured Home Loans

The Federal Housing Administration (FHA) proposed a rule in the Federal Register that will increase and index loan limits under its Title I Manufactured Home Loan Program. The program insures loans used to finance manufactured homes that are titled as personal property. FHA proposes a “data-driven methodology to calculate loan limits for the program on…
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Mortgage Rates Move Up, Hit 6.92% This Week

Average long-term U.S. mortgage rates reached their highest level in more than two decades this week and are likely to climb further as the Federal Reserve has all but promised more rate increases in its battle to tamp down persistent inflation. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate…
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FEMA Approves $150M+ For Fla. Households

Within 10 days following a major disaster declaration for Hurricane Ian, the Federal Emergency Management Agency (FEMA) says it approved $150 million in grant money, which has since risen to $168 million in recovery grants for over 101,705 households. In addition, 20 counties are now eligible for individual assistance after FEMA approved the addition of…
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Home Prices After Ian? Probably Going Up

FORT MYERS, Fla. – A price spike is expected for Florida real estate spared the wrath of Hurricane Ian. Multiple studies show property values in storm-ravaged regions have historically risen past the national average following a disaster. Veros Real Estate Solutions estimated that property prices topped the national average by 7% in five metropolitan areas…
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Waiver Can Speed Flood Relief to Homeowners

TALLAHASSEE, Fla. – The Federal Emergency Management Agency (FEMA) authorized the National Flood Insurance Program (NFIP) to approve a waiver that will allow flood-insurance policyholders to access a portion of their claims without going through the full claims process. The change is based on a request submitted by Gov. Ron DeSantis and Florida Chief Financial…
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¿Qué hacer si un hispano fallece y ha invertido en bienes en EEUU?

Según la National Association of Realtors (NAR), los países latinoamericanos (Colombia, Argentina, Brasil, México y Venezuela) fueron los de más participación de compras de bienes raíces en EEUU por parte de ciudadanos extranjeros en el 2021. Para hacer este tipo de negocios, es muy importante tener en cuenta distintos aspectos jurídicos, para que el activo…
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Tips to Take Your Real Estate Team to Next Level

A growing number of agents are forming real estate teams to secure more deals, share resources, and potentially earn more commission. Successful teams engage in frequent communications with upper management. For instance, sales and metrics meetings should be conducted as four smaller weekly meetings, during which wins should be recognized to raise morale. Companies should…
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Lawmakers Back Insurer Ratings Proposal

With one lawmaker likening Florida’s troubled property-insurance market to a “mountain tumbling,” a legislative panel last week approved a proposal to spend $1.5 million to look at alternatives for insurers to get adequate financial ratings. The move came after state officials in July publicly questioned the ratings agency Demotech, Inc., over the possibility that it…
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