HUD announced a new office focused on equity for “not-so-privileged households” in disaster recovery efforts. Fla. and 4 counties will receive a combined $2.789B.
Multifamily starts surged 24% in Feb., suggesting future relief for renters and condo buyers, but single-family starts rose only a marginal 1.1%.
After five weeks of increases, the average rate for a 30-year, fixed-rate mortgage fell to 6.6% from last week’s 6.73%. One year earlier it was 4.16%.
Nationally, it’s 45.5%, though slightly less in the two Fla. metros noted: 41.7% in Miami (up from 31.8%) and 41.3% in Orlando (up from 33.3%).
In a change to be phased in over the next few years, homeowners with state-run Citizens Ins. must also have NFIP flood insurance if they’re covered for hurricane winds.
Attom ranked four Fla. counties near the top as strong markets for 2023 single-family investments: Palm Beach, Indian River, Collier and Charlotte counties.
The main benefit expected from artificial intelligence (AI) is speed. A home valuation, for example, could arrive in minutes. Other routine tasks are already faster.
In Feb., 31% of builders had reduced asking prices and 57% offered incentives. Best deals are for inventory homes, early-delivery homes or move-in-ready homes.
The agencies’ “statement of interest” in an appraisal bias court case says lenders can’t rely on an appraisal if they knew, or should have known, it was discriminatory.
Real estate agents should have a unique personal brand that can follow them if they make any changes during their career.
