Tag: News

Fla. Has 9 of 21 Top Overpriced Rental Markets

TAMPA, Fla. – The rent cost is high, and has been for a while, especially in Florida. As housing costs remain a significant driver of overall inflation, a new study by Florida Atlantic University (FAU) dives into why rent costs are so high in the Sunshine State, especially compared to the rest of the United…
Read more

Turn One Listing Into Five or Six Sales

Open houses should be seen as listing lead generators. In addition to advertising a current listing, it gives agents an opportunity to meet the neighbors, pick up listing and buyer leads, and set listing and showing appointments. Before the open house even begins agents should call and meet the neighbors and other homeowners in the…
Read more

Seller Home Staging Tips

Misty Soldwisch, a broker/owner and team leader with Better Homes and Gardens Real Estate in Des Moines, says staging is essential to her company’s success. She estimates that sellers who opt to stage receive 5% more in sales price and their homes sell 20% faster. Real estate professionals should have a dependable relationship with at…
Read more

Housing Starts Down 0.5% – Single-Family 4.1%

Single-family housing starts continued to fall in November, with the pace of construction down 32% since February, the month when mortgage rates began to rise. The housing market continues to weaken as higher construction costs, elevated interest rates and flagging demand harm housing affordability. The count of multifamily units under construction reached a near 50-year…
Read more

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…
Read more

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…
Read more

Fla. Insurers Can’t Drop Policies Until Nov. 28

TALLAHASSEE, Fla. – Insurance Commissioner David Altmaier on Wednesday issued an emergency order that temporarily prevents property insurers from dropping customers in the aftermath of Hurricane Ian. The order will suspend cancellations or non-renewals of policies for two months. “Between Sept. 28, 2022, and Nov. 28, 2022, no insurer or other entity regulated under the…
Read more

Real Estate ‘Reset’ Confuses Buyers and Sellers

The Federal Reserve’s interest rate hikes may be intended to give the housing industry a “reset,” as chair Jerome Powell wanted, but it also may have further confused homebuyers and sellers on what to do next. Average 30-year fixed mortgage interest rates have spiked from 3.2% to 6.38% over the past six months, tightening supply…
Read more

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…
Read more

Rising Interest Rates Weigh on Home Values

According to a recent Black Knight report, house prices fell 0.77% between June and July, marking the largest monthly decline since January 2011 and the first monthly drop of any size in 32 months. As mortgage rates continue to rise and weigh on home values, some homeowners have lost wealth. Mortgage rates are now double…
Read more