Monthly Archives February 2023

HUD Debuts New Domestic Violence Protections

By Kerry Smith A website, rules and $5M in funding will help survivors of domestic and dating violence, sexual assault, and stalking under the Violence Against Women Act. WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced new resources to protect survivors of domestic violence, dating violence, sexual assault and stalking. The updates fall under the Violence Against Women Act (VAWA). New resources include a new VAWA website, a Notice setting out HUD’s enforcement authority under VAWA, and up to $5 million in funding to provide VAWA training and technical assistance to HUD grantees and other stakeholders. “The Violence Against Women Act
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Florida Realtors’ Riders Being Revised

The condominium and cooperative riders will be updated on March 20 due to changes in law. The revisions are limited and address new documents buyers of certain condominiums and cooperatives are entitled to receive from sellers. Redline is attached. ORLANDO, Fla. – Following the Surfside condominium tragedy, the Florida Legislature passed new laws overseeing condominium and cooperative safety, including standards for inspections and reserve studies. Part of that overall plan includes new documents some buyers are entitled to receive from sellers. What’s changing? At this time, changes will take place on March 20, 2023. Documents changing include: Rider A. Condominium
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Fed Boosts Rates 1/4 Point – and Not Done Yet

By Christopher Rugaber It’s the eighth increase since March 2022, yet less than hikes three times higher last year. And while inflation improved, the Fed still calls future rate hikes “appropriate.” WASHINGTON (AP) — The Federal Reserve extended its fight against high inflation Wednesday by raising its key interest rate by a quarter-point, its eighth hike since March. And the Fed signaled that even though inflation is easing, it remains high enough to require further rate hikes. The central bank’s latest move put its benchmark short-term rate in a range of 4.5% to 4.75%, its highest level in about 15
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Are Floridians More Optimistic than Rest of U.S.?

By Kerry Smith While Americans’ attitudes declined a bit in Jan., a monthly UF study of Floridians found a 1.4-point increase overall with an uptick in expectations for the future. GAINESVILLE, Fla. – In January, consumer sentiment among Floridians increased 1.4 points to 65.4 from December’s revised figure of 64. At a national level, sentiment increased over five points. Yesterday, the Conference Board noted a slight dip in overall Americans’ optimism. “The increase in consumer sentiment in January stems from improvements in Floridians’ expectations about the future, particularly their expectations of a year from now,” says Hector Sandoval, director of
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Appraisers Propose New Fair Housing Requirements

By Kerry Smith Appraiser Qualifications Board chair: Appraisal bias “a threat to the public’s trust in the appraisal profession.” Proposed changes would mandate fair-housing education. WASHINGTON – The Appraiser Qualifications Board this week released a First Exposure Draft of proposed changes to the Real Property Appraiser Qualification Criteria. If adopted, the proposed changes would make fair-housing education courses a required component of appraisers’ qualifying and continuing education. “Appraisal bias is a threat to the public’s trust in the appraisal profession,” says Appraiser Qualifications Board Chair Brad Swinney. “As the independent body charged with maintaining the minimum qualification criteria for real
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NAHB Economy Prediction: Down in ’23, up in ‘24

By Kerry Smith Home builders are holding their major convention in Las Vegas this week, and their chief economist thinks rates will “normalize” in the second half of the year. LAS VEGAS – The “housing recession” that began in 2022 will bleed into 2023 as elevated inflation and mortgage rates, coupled with stubbornly high building material construction costs, continue to take a toll on the housing industry. According to Robert Dietz, chief economist of the National Association of Home Builders (NAHB), that’s expected to push the overall economy into a mild recession early this year. However, the second half of
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