While NAR says “love letters” from buyers to sellers may violate the Fair Housing Act, the judge says an actual ban violates the U.S. Constitution’s free speech rights. PORTLAND, Ore. (AP) – A federal judge last week issued a preliminary injunction blocking Oregon’s ban on so-called real estate “love letters” – the nickname for personal notes from prospective homebuyers to home sellers. In his court order issued last Friday, U.S. District Judge Marco A. Hernández said the law violates the First Amendment of the U.S. Constitution by restricting free speech too broadly, The Oregonian/OregonLive reported. The conservative Pacific Legal Foundation
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By Amber Randall Buyers who took a chance on a foreclosure or short sale around 2012 have seen values double or quadruple. But if they want to sell, where do they move? FORT LAUDERDALE, Fla. – The real estate market in South Florida has ebbed and flowed over the past few decades, bringing with it soaring home values in some periods, followed by devastating downturns. When the housing bubble of 2006 and 2007 burst, the market dropped precipitously, with values reaching their lowest levels around 2012. The typical home value in South Florida in 2007 for example, peaked at $339,171
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At least a dozen people paid rental deposits on the same house before the three scammers – one posing as a Realtor – took the money and left town. HOMESTEAD, Fla. – More victims are detailing how they got sucked into a real estate scam and lost thousands. Homestead police are continuing their search for the three suspects and now the Miami-Dade Police Department (MDPD) is involved as well. MDPD said several more victims have just come forward, which means there are now more than a dozen cases county-wide involving the three suspects, who are still on the loose. “They
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By Dan Glaun The Naples company accused of embezzling millions of dollars from HOAs didn’t suddenly go rogue, according to a Naples News investigation. NAPLES, Fla. – The Naples property management company accused of embezzling millions of dollars from Collier and Lee counties’ community associations has a years-long history of legal trouble, a Naples Daily News/The News-Press investigation has found. A review of court documents, business regulatory records, community association board meeting minutes and interviews reveal that: American Property Management Services (APMS) allowed one of their employees to keep managing a Naples community association, Eagle Creek, for months after her
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The Miami-Dade trio pretended one was a Realtor. They lured victims to vacant homes, often put “buyers” through background checks and then asked for a down payment. MIAMI – A woman and two men are being sought in connection with a real estate fraud scheme in Miami-Dade that has targeted more than a dozen victims, authorities said. Priscilla Marie Contreras, 32, Yordani Carriles Diaz, 43, and Deinoser Bravo, 47, are wanted in connection with the fraud scheme, Homestead Police officials said Thursday. Officials said Contreras would act as a Realtor and lure victims to vacant residences through social media. Once
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By Kerry Smith It’s down to 50 people in NAR’s 30-under-30 contest. Vote online for Kelsey Lohman (Tallahassee), Marcelo Steinmander (Miami Beach) or Moriah Taliaferro (Sarasota). CHICAGO – The National Association of Realtors®’ (NAR) annual 30 Under 30 contest honors younger Realtors who stand out. Of the more than 300 applicants who applied for this year’s award, NAR narrowed the field down to 50. Of those 50, 30 will be selected. Three Floridians have made it to the top 50: Kelsey Lohman, Lohman Realty (Tallahassee) Marcelo Steinmander, Berkshire Hathaway EWM Realty (Miami Beach) Moriah Taliaferro, Premier Sotheby’s International Realty (Sarasota)
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45M adults have thin or nonexistent credit scores. For many it’s because they don’t buy things using credit. To secure a mortgage, they should create a paper trail. NEW YORK – Not having a credit history, often referred to as being “credit invisible,” can make it harder to buy a home or car, finance an education, and secure banking products and other services. Today, over 45 million adults in America have no credit score, according to Freddie Mac. If that describes you, don’t panic. Freddie Mac is offering three strategies to take you from invisible to visible, and help you
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By Matt Ott After flirting with 4% in Feb., the 30-year, fixed-rate mortgage dropped lower for the second week, hitting 3.76% from last week’s 3.89%. WASHINGTON (AP) – Average long-term U.S. mortgage rates fell this week and remain at historically low levels, just as the Federal Reserve prepares to raise its main borrowing rate later this month. The average rate on a 30-year loan declined to 3.76% this week from 3.89% last week, mortgage buyer Freddie Mac reported Thursday. A year ago, the long-term rate was 3.02%. The average rate on 15-year, fixed-rate mortgages, popular among those refinancing their homes,
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Analysts still expect mortgage rate increases this year due to Fed actions, but investors flock to bonds when they get jittery – and that often lowers mortgage rates. NEW YORK – U.S. mortgage rates have risen this year and are expected to continue doing so, but the conflict between Russia and Ukraine could throw a wild card into those projections. The 30-year fixed-rate mortgage climbed by 37 basis points over the first two full weeks of February, according to Freddie Mac. But last week, as Russia invaded Ukraine, rates dropped to 3.89% for the 30-year fixed-rate mortgage, and down to
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While 17.13% of Fla. homes may be vacant, the number is misleading because it includes some vacation homes. Nationally, 16M homes are vacant. NEW YORK – While housing shortages are a more commonly cited problem than housing vacancies, some areas of the country see a higher number of empty homes than others. Empty homes can be a concern as they can sometimes lead to economic blight – but a high number of empty homes doesn’t necessarily mean trouble, economists say. More than 16 million homes are sitting vacant across the U.S., according to new research from LendingTree, which ranked the
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