By Marla Martin NAR’s awards highlight Realtors across the U.S. who have dedicated their time, money and passion to helping others – and one 2021 finalist hails from Fla. WASHINGTON – The National Association of Realtors® (NAR) honored 10 Realtors® as finalists for its 2021 Good Neighbor Awards, including one Realtor from Clearwater, Fla. Now in its 22nd year, the Good Neighbor Awards recognize Realtors who have made significant, tangible volunteer contributions in their communities to improve the lives of their neighbors in need. Christina Sauger with Rutenberg Realty Inc. in Clearwater, Fla., is one of the 10 finalists. Sauger founded The
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By Kerry Smith NAR President Oppler says Realtors have “long advocated for many of the policies,” though the promise of 100K homes “is just a small fraction” of the 6 million needed. WASHINGTON – Following the Biden Administration’s announcement of new housing policies to help more Americans buy or rent a home, most housing groups issued statements backing the changes. National Association of Realtors® (NAR) President Charlie Oppler “applauded” the effort to “address America’s housing supply crisis and to prevent the expansion of corporate landlords at the expense of homeownership.” According to Oppler’s statement, “Distressed homeowners should have the opportunity
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By Kerry Smith Realtor.com got 18K more new listings in Aug. 2021 than it did in Aug. 2020 – and more were affordable, entry-level homes. Realtor.com’s economist says it’s still a seller’s market, but a well-priced home might get 3 bids now compared to the 10 it would have received in 2020. SANTA CLARA, Calif. – August housing data shows early signs of sellers beginning to compete for buyers, according to realtor.com’s monthly housing report. It says inventory, while still down year-to-year (25.8%), is still down less than it was just one month earlier (33.5%). The researchers also noted an
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Rates continue to average less than 3% as signs show the economy – at least so far – appears to be outpacing the delta variant of COVID. McLEAN, Va. (AP) – The average long-term mortgage rate was unchanged from last week as the economy continues to show encouraging signs even as hospitalizations from the delta variant of the coronavirus remain elevated. Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year mortgage held at 2.87% as demand for homes remained stable. The benchmark rate, which peaked this year at 3.18% in April, stood at 2.93% this time
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By Josh Boak Insurers play a big role in financial markets, so if the number and intensity of natural disasters increases, could financial woes follow? A new study hopes to find out. WASHINGTON (AP) – In a season of daunting wildfires and flooding, the Biden administration is taking an initial step to assess how climate change could harm financial markets – it’s planning to launch on Tuesday a 75-day comment period on how the impacts could reshape the insurance sector. Insurers face payouts from wildfires and flooding risks that could cause premiums to rise for many Americans, but they’re also
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By Kerry Smith A cross section of federal agencies tinkered with policies in an effort to boost affordable housing and the middle class, according to the White House. For example, homesteading buyers will have more exclusive time (30 days) to buy foreclosed homes under FHFA. WASHINGTON – The Biden Administration announced a number of changes intended to boost the availability of affordable housing, including a broad goal to deliver 100,000 units within three years. The White House provides an overview of the changes on its website. The change starts with manufactured homes and buildings with two to four units, and
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In July 2020, 2,216 Redfin users moved to Miami; in July 2021, the number grew to 7,610. Some moved because they could work from home, some to escape lockdowns. SEATTLE – According to Redfin’s monthly migration report, July saw the net inflow of Redfin users moving to Miami rise to 7,610 from 2,216 last year. Despite the potential increase in flood risks and coastal storms, Florida remains a top spot for buyers. “Home buyers are moving here from all over the map – Atlanta, Cincinnati, New York, Columbia, Mexico City, Pittsburgh and Philly, to name a few,” says Milagros Alvarez,
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By Laura Gomes In today’s hot market, buyers want to make their offer more appealing, and some consider the addition of “appraisal gap” language. But that can create unexpected problems – and it’s not one of the core elements included in Florida Realtors’ contracts. ORLANDO, Fla. – Part II of a three-part series: Buyer’s offers. The series focuses on potential pitfalls when buyers attempt to make their offers “more appealing” in today’s market. Many buyers are tempted to – and often do – remove or change certain aspects of their offer to make it more appealing, in hopes the seller
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By Joey Sale I thought MLS offers of compensation were unilateral and unconditional, but I’m seeing more conditions, such as full compensation only for full-price offers submitted within a set number of days. What does “unconditional” mean? ORLANDO, Fla. – Dear Joey: How can an offer of compensation that is supposed to be unconditional appear to be conditional due to language in the remarks section of an MLS listing? I’m seeing more language in broker or private remarks that place conditions on the offers of compensation. For example: “Agent must present a full price offer within 10 days to receive
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By Joel Maxson A buyer insists on seeing the Seller’s Property Disclosure. Equally adamant, the seller refuses to fill one out. What happens next? The buyer’s Realtor calls Florida Realtors Legal Hotline to find out what they can – and cannot – demand. ORLANDO, Fla. – Based on what we hear on Florida Realtors Legal Hotline, most residential sellers are content to complete the Florida Realtors Seller’s Property Disclosure – Residential form (SPDR), or its condominium counterpart, when they enter into a listing agreement. However, every now and then a seller balks at the idea of completing this form, prompting
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