By Lew Sichelman Many want to sell and move, but they feel stuck. Some don’t have the income to qualify for a bigger mortgage; others worry about total costs of a relocation. SARASOTA, Fla. – New affordability estimates show why so few houses are on the market: Owners who might want to sell may not be able to afford to buy another house. Even if they could find one. Forget for a moment that there’s a record low number of houses for sale, and just consider costs. Even using the profits from the sale of their current home, many sellers
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By Harris Katz A condo owner suffered damage after a fire in a nearby unit. Which insurer pays for that, the condo association’s or the personal policy he has on his unit? PALM BEACH, Fla. – Question: I am an owner in a condominium in Palm Beach County. There was recently a fire in an adjoining unit that caused damage to my unit. What is covered by my insurance policy versus the condominium’s insurance policy? – Palm Beach, Fla. Answer: Generally speaking, the condominium association insures your building and the common elements of the building under an insurance policy, typically
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By Kerry Smith This April, Realtors celebrate the 54th anniversary of the Fair Housing Act with special events that symbolize their recommitment to expanding equal access to housing.  WASHINGTON – The Fair Housing Act created a sea change of U.S. laws to guarantee that all Americans – regardless of race, color, national origin, religion, sex, family status, and disability – had an equally fair shot at the American dream of homeownership. While the nation still hasn’t fully come to terms with equal access for all, the Act was the first and perhaps biggest step in getting there. For Realtors, April
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LendingTree ranked 50 U.S. metro areas. At No. 24, Miami was solidly average, but property taxes in three other state metro areas ranked from No. 11 to No. 14. NEW YORK – Property taxes vary significantly across the nation’s 50 largest metros. How much homeowners pay in property taxes largely depends on where they live and what their home is worth. Homeowners in the lowest property tax metro, Birmingham, Ala., pay about $7,700 less than their counterparts in the New York metro area, which has the highest property taxes in the U.S. Property taxes in Birmingham average $753 (homes without
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By Kerry Smith A bill to make homeowners pay roof-replacement deductibles failed, but OIR says it can be an insurer option, such as lower premiums for owners willing to take a risk. TALLAHASSEE, Fla. – Florida has had a rash of insurance claims alleging damaged roofs covered under their homeowner’s property insurance policy, and the 2022 Florida Legislature considered a fix that would have charged homeowners a deductible if their roof needed replacement following a covered event. However, the bill, SB 1728, passed the Senate but failed in the House. While the Florida Legislature may return to Tallahassee for a
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