By Erica Plemmons Florida Realtors economist: Why should I list now? Show them why graphically based on 1) different home needs, 2) low mortgage rates and 3) equity potential. In 2020, over one-third of Fla. single-family home sellers cashed out and received their list price or more. ORLANDO, Fla. – Realtors® can help show sellers the money (and get their listing)! In 2020, one in three (34%) single-family home sellers received their original list price or higher. From 2015-2019, this was true for about one in four sellers (26%). By month, a more striking trend emerges. In November and December
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A monthly seller-sentiment index recorded a notable spike in the number of homeowners who think it’s a good time to sell – a possible sign of more future listings. WASHINGTON – Fannie Mae’s latest Home Purchase Sentiment Index, based on a survey of 1,000 consumers, suggests that more homeowners view home selling favorably. The index’s component on home-selling conditions month-to-month rose 16 percentage points on net last month. “Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage
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A bill that limits COVID-19-related business liability issues can now go before the full House for a vote once the session begins – a priority issue for Florida Realtors. TALLAHASSEE, Fla. – A high-profile bill that would provide COVID-19 liability protections to businesses moved through its final House committee Tuesday in a 14-7 vote, after heated partisan debate and procedural maneuvering. The issue is one of Florida Realtors’ priority issues heading into the 2021 session of the Florida Legislature that begins on March 2. Before passing the bill (HB 7), the House Judiciary Committee approved three amendments proposed by bill
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By Kerry Smith The study found a gap between Black and white homeownership rates of about 30% (60.8% for whites, 42% for Blacks). Blacks are rejected for mortgages 2.5 times more than whites (10% vs. 4%) and carry higher student loan debt (43% vs. 21% for whites). NAR calls for policy changes. WASHINGTON – The National Association of Realtors® (NAR) released a study on minority homeownership in the United States, finding that it “stubbornly lags behind the national rate, with Black Americans facing some of the toughest hurdles to achieving this essential part of the American Dream.” NAR’s Snapshot of
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By Kerry Smith 4 Fla. counties made the top 25 for increased risk of landlord default, mostly due to an eviction ban that made it harder for some owners to pay the property’s mortgage. IRVINE, Calif. – A RealtyTrac analysis finds that single-family rental property owners face an above-average risk of default in 48% of all U.S. counties, and four Florida counties – Collier, Lee, Polk and Marion – made RealtyTrac’s top 10 list for risk of landlord default. The RealtyTrac Rental Property Risk Report gauges the relative default risk of single-family rental homes, almost 90% of which are owned
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By Marla Martin The state association’s booth at Enterprise Florida’s virtual trade expo on March 16-18 will showcase members’ global expertise. Foreign attendees who want to know more about Florida Realtors and the state can connect with Realtors who speak Arabic, German, Spanish and more. ORLANDO, Fla. – Florida Realtors® will join more than 150 major products and service providers across the Sunshine State in the first-ever virtual Florida International Trade Expo, March 16-18, 2021. Presented by Enterprise Florida, the state’s official economic and trade development agency, the International Trade Expo serves as a virtual meeting place to connect international
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The spring housing market unofficially began over Presidents Day weekend, and NAHB reports that 40% of potential buyers say they’ve been outbid at least once. NEW YORK – The spring housing market season unofficially began last Presidents Day weekend, but experts warn that an uptick in buyers may lead to more frustrated buyers since bidding wars are off the charts even as home prices continue to skyrocket. A new National Association of Home Builders survey found that about 40% of potential home buyers haven’t made purchases because they keep getting outbid. Similar results were recorded by Redfin. In their survey,
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Sellers checking their home’s Zillow listing will see a home-purchase quote, part of Zillow Offers, which the company says made about $20K profit per home in 4Q 2020. SEATTLE – Homeowners across the country will soon see a live offer through Zillow’s home buying and selling website platform, replacing the “Zestimate.” A live offer is essentially Zillow’s initial offer for a home, while the Zestimate is an automated valuation model that attempts to estimate what the home might get on the open market. Nearly three years after it launched its direct-to-consumer home buying and selling platform Zillow Offers, the company
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Pres. Biden signed an Executive Order extending forbearances and banning foreclosures until June 30. However, he did not make changes to the eviction ban ending March 31. WASHINGTON (AP) – President Joe Biden is extending a ban on housing foreclosures to June 30 to help homeowners struggling during the coronavirus pandemic. The moratorium on foreclosures of federally guaranteed mortgages had been set to expire on March 31. On his first day in office, Biden had extended the moratorium from Jan. 31. Census Bureau figures show that almost 12% of homeowners with mortgages were late on their payments. The White House
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By Kerry Smith An annual Love and Money survey found that couples talked more about money during the shutdown, but many conversations focused on delaying a home purchase. CHERRY HILL, N.J. – TD Bank’s annual Love and Money survey attempted to quantify the impact the pandemic quarantine and economic slowdown had on couples and their finances. According to the survey, 1 in 10 American couples were furloughed, lost their job or had work hours decreased as a result of COVID-19, forcing them to put off certain financial milestones. Despite a sharp decrease in large purchases, more couples stuck at home
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