By Jim Turner Fla.’s unemployment website failed last spring, frustrating some Realtors who watched deals collapse. The Legislature is looking at ways to fix it, but it won’t be cheap. TALLAHASSEE, Fla. – More than $73 million is needed over the next two years to revamp Florida’s much-criticized unemployment system, which was overwhelmed in the initial weeks of the coronavirus pandemic, the head of the state’s unemployment agency said Monday. Department of Economic Opportunity Executive Director Dane Eagle told members of the Senate Select Committee on Pandemic Preparedness and Response that retaining the current system is “not an option.” The
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Florida Realtors® Orlando headquarters By Kerry Smith Industry-changing ideas start as a suggestion proposed during a Florida Realtors committee meeting. Be part of the change. Apply to serve with Pres. Christina Pappas in 2022. ORLANDO, Fla. – Florida Realtors® 2022 President Christina Pappas announced that she’s ready to accept applications to serve on a 2022 Florida Realtors committee. Positions are open to any member committed to making Florida Realtors better, to making housing better, to making the state’s communities better. “We make dreams come true, and no one else can expand housing opportunities or build communities like we can,” says
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The House-passed bill is now in the Senate, and NAR expects most major provisions to pass. The latest stimulus includes aid for state and local governments, new homeowners’ assistance funds, small-business grants, rental-assistance funding, expanded unemployment and more. WASHINGTON – The U.S. Senate will take up President Joe Biden’s American Rescue Plan this week, a $1.9 trillion bill that contains an array of coronavirus relief measures that the National Association of Realtors® (NAR) says it championed. The House passed the legislation Saturday. NAR Chief Advocacy Officer Shannon McGahn says that she expects the Senate to adopt the bill with most
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By Kerry Smith An app debuting in June seems to be a mashup between crowdfunding, dating and short-term rental investing. Users can invest in property worldwide using only a smartphone. ORLANDO, Fla. – Technology has expanded investment opportunities in real estate, and a new app, Vaycaychella, owned by World Series of Golf (WSGF) is in beta testing with plans to debut in June. According to the company, the app is “an alternative finance application designed to facilitate the purchase of short-term rental properties.” Its main function is to “empower a new generation of short-term rental property operator entrepreneurs (or Rentrepreneurs)
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Overall residential spending increased 2.5%, boosted in part by higher demand for outer-urban areas where builders have more land to develop. SILVER SPRING, Md. (AP) – Spending on U.S. construction projects rose 1.7% in January as new home building continues to lift the sector. Last month’s increase followed small, revised gains in December and November. Spending on residential construction rose 2.5% in January, with single family home projects up 3%, the Commerce Department reported Monday. Despite an economy that’s been battered for nearly a year because of the coronavirus pandemic, historically low interest rates and city dwellers seeking more space
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By Jim Turner The House floated “a suite of bills” to address climate change, including a tax break for owners who elevate homes and money for local governments that create programs. Gov. DeSantis proposed changes earlier, but many differences must now be worked out. TALLAHASSEE, Fla. – Under proposals announced Friday by Florida House Speaker Chris Sprowls, R-Palm Harbor, Floridians would be asked to approve a tax break for people who elevate their homes to avoid the threat of flooding, and up to $100 million a year would be set aside to help local governments combat rising sea levels. The
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By Kerry Smith Study: Homeowners gained $3.1T in equity last year, prices rose at a rate not seen since 2013, inventory dropped by 24% and 58% of buyers faced a bidding war. SEATTLE – The real estate market is in a constant state of flux, and buyers’ demands change over time. In 2020, however, the pandemic and resulting lockdowns changed sellers, buyers and homeowners. A study by Redfin provides a snapshot of how those changes impacted the market. $3.1 trillion: The amount of home value Americans gained. Despite the economy’s plunge into recession, U.S. homeowners have reaped $3.1 trillion in
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By Nicole Carroll Expect a rosier economy in 2021 as COVID-19 cases drop, business restrictions loosen and stimulus aid juices growth. But many still struggle due to pandemic issues. McLEAN, Va. – Economists this week shared some remarkably optimistic news: Even with the damage of the pandemic, the economy is expected to boom this year as coronavirus cases drop, business restrictions loosen and COVID-19 relief money juices growth. “The thing is, this was supposed to be a dark winter,” said economy reporter Paul Davidson, who reported the rosier outlook in a recent USA TODAY story. “We had obviously a really
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By David Lyons Anyone flying back to Canada must stay in a government-approved hotel at their expense for 3 days to wait for the results of a now-mandatory COVID-19 test. Those driving back must show evidence of a negative test result at the U.S.-Canadian border. FORT LAUDERDALE, Fla. – Canadian snowbirds now visiting South Florida will face new layers of COVID-19 rules upon returning back home. Effective Feb. 22, those who fly back to Canada will have to stay in a government-approved hotel at their expense for three days to await the results of a newly required COVID-19 test. People
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By Mark Leverette Landlords have strategies to help negotiate tenants’ rent relief, but they need to know what’s behind the request. Is it a delayed reaction to COVID-19’s impact? NEW YORK – All around the country, commercial real estate landlords are being confronted with a fundamental problem: tenants cannot pay their rents. Again, this is a problem not only for the tenants but for the landlords too, who typically rely upon income from rents to pay their own business expenses. Government has thus far not been much help in this regard. Other than the convoluted Paycheck Protection Program, or PPP,
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