The lesson for Fla. HOAs: Elect honest, reliable people to the board. Fla.’s largest HOA has spent $2.3M on lawyers after losing millions under a corrupt board of directors.
In a year-to-year comparison, sales dropped 16.6% even as prices rose 1.9% to $407K – only the fourth month ever over $400K. Inventory increased 3.7%, however.
20 Realtors earned their endorsement as “the best of the best” – a Florida Realtors Board Certified Professional. This first group was recognized at Sunday’s BOD meeting.
A judge turned down a preliminary injunction request over Fla.’s foreign-buyer law, but the plaintiffs said Monday that they’re going to appeal the decision.
Florida Realtors: Higher mortgage rates still a factor; single-family home median price at $415K, 2.8 months’ supply. Condo median price at $319K, 3.6 months’ supply.
The consumer bureau says Freedom Mortgage gave Long Island brokers and agents “illegal incentives” under RESPA, including cash, subscriptions and parties.
The state-owned insurer requested a maximum 12% hike for most residential policies and must go lower. But a condo association hike was approved at 9.2%.
Inventory is low and many current homeowners with low mortgage rates aren’t budging. In marketing, it’s time to cast a wide net.
In NAHB’s multifamily production index, any number above 50 means attitudes are more positive than negative, and in 2Q, it was 56 for the second quarter in a row.
Of all homes buyers could consider in the second quarter, 31.4% were new construction – the highest 2Q percentage on record. Pre-pandemic it was 17%.
