By Kerry Smith NAR study: 63% of agents and brokers promote a listing’s energy efficiency, 48% say their buyers like sustainability, and 32% are concerned about climate change. WASHINGTON –  Almost two out of three agents and brokers (63%) say it’s “very” or “somewhat” valuable to promote a listing’s energy efficiency, according to a new report from the National Association of Realtors® (NAR). The 2023 Realtors® and Sustainability Report – Residential examines sustainability issues facing the real estate industry. “While each area of the country has a unique climate and community resources, Realtors are finding the need to embrace their
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Cape Coral By Kerry Smith 25% of Austin and Seattle listings cost buyers less monthly now than they did one year ago as falling prices counteract interest rates. But that’s less true in Fla. SEATTLE – A monthly mortgage payment is based on a home’s selling price and the loan interest rate a buyer can secure. For the past year, higher interest rates have made homes less affordable – but as home prices ease in some cities, the lower selling price is starting to outweigh the burden of higher interest rates. In two U.S. cities – Seattle and Austin, Texas
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By Fatima Hussein The U.S. could default on its debt by June 1 if politicians don’t reach an agreement by then – but even a last minute deal can temporarily upend financial markets. WASHINGTON (AP) – Treasury Secretary Janet Yellen notified Congress on Monday that the U.S. could default on its debt as early as June 1, if legislators do not raise or suspend the nation’s borrowing authority before then and avert what could potentially become a global financial crisis. In a letter to House and Senate leaders, Yellen urged congressional leaders “to protect the full faith and credit of
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By Kerry Smith After three monthly increases, UF’s sentiment index fell one point, due mainly to “somewhat unexpected” concerns about the nation’s long-term economic health. GAINESVILLE, Fla. – After three consecutive monthly increases, consumer sentiment among Floridians dropped one point in April to 68.7 from a revised figure of 69.7 in March. However, national consumer sentiment increased 1.5 points. “Despite challenges such as elevated inflation, hikes in interest rates and turmoil in the banking sector, consumer sentiment remained resilient in the first quarter of 2023,” says Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic
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By Christopher Rugaber Analysts expect another interest-rate increase, but they’re waiting for the Fed’s analysis, which could easily impact the direction of mortgage rates. WASHINGTON (AP) – The Federal Reserve is on track to raise its benchmark interest rate for the 10th time on Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four decades. Yet economists and Wall Street traders will be more interested in what the Fed and Chair Jerome Powell signal in a statement and at a news conference about a bigger question: What comes next? And on
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By Andrew Little The most likely outcome: Lenders will muddle through using their Great Recession playbook. Most will likely pay down commercial loans or work to extend them. RICHMOND, Va. – Like the sobriety test in Steve Martin’s 1983 film “The Man with Two Brains,” where Martin declares “your drunk tests are hard” after the police demanded he walk a straight line – on his hands – and then one hand, and then tap dance while juggling and singing the Catalina Magdalena Hoopensteiner Wallendiner song, commercial real estate loans are getting harder and harder to obtain. What was made difficult
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Sarasota, Florida By James A. Jones Jr. As out-of-state and international buyers focused on Miami and other cities, more residents of those cities headed to Fla.’s smaller and more affordable towns. MIAMI – Florida’s population grew by 416,754 last year, with a whopping 318,855 of those migrating from other states, according to the U.S. Census Bureau. Many of the new residents made a bee-line to major metropolitan areas like Miami-Dade, Tampa and Orlando, adding to congestion and traffic. But they also helped create a domino effect. Some already living in Florida’s largest metros said they had enough of the congestion
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