What’s Happening in South Florida
Palm Beach Single-Family Luxury Home Sales Rise in August 2022; Total Active Listings Increase for Second Consecutive Month
MIAMI — Palm Beach County single-family luxury home sales and total inventory increased for the second consecutive month in August 2022, according to the MIAMI Association of
BROWARD HOUSING INVENTORY RISES, SUPPLY REACHES 2.5 MONTHS
Just in! August 2022 released from Florida Realtors® detailing recent real estate activity in Broward County. The reports compare year-over-year data. Here are statistics on
Most Expensive Homes For Sale in Fort Lauderdale – 5 Categories of Rare Finds
Most Expensive Home Listings This Week on Our List of Fort Lauderdale Homes for Sale: This week we highlight some of Fort Lauderdale’s most expensive
FLORIDA: A TOP 10 STATE FOR ‘STABLE’ HOUSING
Realtor.com’s high-level view of housing markets – foreclosures, underwater mortgages, rising prices, etc. – finds Fla. ranking third in overall stability. U.S. home prices continue
Broward County Luxury Home Sales Keep Surging in July 2022; Total Active Listings Rise Year-over-Year
Table of Contents Broward Total Luxury Sales Increase South Florida: A Bargain in Comparison to Other Global Cities & U.S. Metros Broward Total Active Listings
MORE INVENTORY ENTERS PALM BEACH MARKET, MEDIAN PRICE REACHES $600,000
Just in! July 2022 released from Florida Realtors® detailing recent real estate activity in Palm Beach County. The reports compare year-over-year data. Here are statistics
MORE INVENTORY ENTERS BROWARD MARKET, MEDIAN PRICE REACHES $600,000
“We’re continuing to see inventory improvement in Broward County. Listings have risen consecutively for the past three months. In July, active inventory rose by 37.2
New Fort Lauderdale & Suntex $70 Million Las Olas Marina
Big things are coming to Fort Lauderdale Beach! In May 2022, The City of Fort Lauderdale and SunTex Marinas broke ground on the new Las
Florida Announces Downpayment Assistance through Hometown Heroes Housing
The $100M program, will provide zero-interest loans to be used toward down payment and closing costs – up to 5% of the loan or $25K.
Most Global Web Searches for Miami Homes in July 2022
MIAMI — Colombia posted the most global web searches for Miami homes in July 2022, according to a new report by the MIAMI Association of REALTORS® (MIAMI).
Mamma Mia! ABBA’s Fla. Vacation Home for Sale
For slightly less than $4M, one ABBA fan can own a piece of history. The Swedish Longhouse style Gulf Coast home duplicates the same design
Fla. Town Considers End to Single-Family Zoning
Is single-family zoning good or bad? It’s a hot issue, but affordable-housing advocates says it’s one of the problems, and Gainesville might nix it altogether.
Fair Housing: Problem Ran Deeper than Redlining
Discrimination tends to find loopholes. In the 1960s, Blacks bought homes using a land contract – but sellers held the deed and could evict for
80% of Metros See Double-Digit Price Gains in 2Q
NAR: Median home prices in the second quarter were up 14.2%, but Fla. saw bigger gains: Of the top 10 U.S. metros for home-price increases,
Mortgage Rates Switch Direction, Rise to 5.22%
Last week, mortgage rates dropped below 5%; this week, they changed direction. One year ago, the average 30-year, fixed-rate mortgage averaged 2.87%.
Inflation Slows in July – But It’s Still High
Year-to-year, U.S. prices rose 8.5% in July compared to 9.1% in June. Most of that savings – though not all – resulted from falling gas
Average Cost for a One-Bed Apartment? $1,769
Rent.com: $1,769 is a 39% year-to-year increase. The nationwide average monthly cost for a two-bedroom rental in August is $2,105, a 38% increase year-to-year.
More Listings Gives RE Market Time to Breathe
Buyers, sellers and Realtors feel less pressure as bidding wars decline, listings remain on the market more than a week, and open houses no longer
Fla. Woman Sues Equifax Over Loan Costs
From mid-March to early April, credit-scorer Equifax gave faulty info to lenders, and some borrowers may now be paying higher monthly payments than they deserve.
HUD Wants to Help Renters Build Assets
Through the “Bridging the Gap” program, HUD hopes to give historically left-out people help to improve their credit, save resources for homeownership and build wealth.
Short-Term Rentals Boomed – That’s Good and Bad
Published:Mon, 8 Aug 22 15:08:45 +0500 https://www.floridarealtors.org/news-media/news-articles/2022/08/short-term-rentals-boomed-thats-good-and-bad © Florida Realtors®
Condo Safety Checks May Face Difficulties
New Fla. condo safety standards raise the bar for about 2M owners and set an extremely short timeline – and there may not be enough
Foreclosures Still Low – but Will Probably Grow
While experts don’t expect a recession-style foreclosure surge, the numbers should keep rising as the U.S. housing economy returns to “normal.”
U.S. Renter Income Needed for a Modest Apartment?
Report: A worker making $10/hour in Fla. must work 86 hours to afford a one-bedroom apartment – an affordable rental goal in only 1 out
August 5 Report on Fort Lauderdale Homes for sale | Great for buyers, Joshua Zorn, P.A.
The numbers for August 2022 Fort Lauderdale Homes for sale Show Positive growth • Report for Fort Lauderdale homes for sale• August 5, 2022; 1,215
Mortgage Rates Drop Below 5%
At 4.99% it’s not far below, but it’s the first time in four months the 30-year, fixed-rate mortgage averaged below the psychologically significant 5% mark.
Buyers’ Income Rises Along with Home Prices
Buyers became richer between 2019 and 2021, notably in four “top 10” Fla. metros, as wealthier out-of-staters opted to buy a Fla. home during the
Senate Continues Housing-Crisis Investigation
Testimony suggested that “opaque ownership laws” and specifically LLC ownerships have turned “I’m going to let them foreclose” into a business tax strategy.
Offer IDX on Your Biz Website? You Should
Buyers want a go-to website, and IDX allows individual Realtors to post MLS listings. It can also boost website status in search engines when listings
NAR’s Yun: Any Economic Downturn Likely Mild
The chief economist pointed to signs of a recession – and signs that suggest no recession. At the least, he says, the latter should block
Floridians Keep Pulling the Plug on Phone Lines
If do-not-call laws didn’t hurt cold-call marketing, changing technology will: 20 years ago, Fla. had about 12M landlines; by 2021, it had only 1.152M.
Surfside Land Sale Now Official. What’s Next?
A billionaire Middle Eastern developer pledged $120M for the roughly two-acre site. It will likely be home to a new luxury condo tower, though the
Calif. vs. Fla. in Fight for ‘Digital Nomads’
If permanent work-from-home employees can move wherever they want, where do they go? According to Airbnb, Fla. is one of the top two destinations.
Some Homebuyers Get a Second Chance
As more contracts fail to close, some frustrated buyers who didn’t win the bid are receiving a call a week or more later: Do they
Pace of Interest Rate Increases Changes Deals Quickly
Florida Realtors economist : Today’s homebuyers stress over inflation and rising mortgage rates, which are pushing buyers to lower expectations and find something quickly.
Insurer Applies for New Fla. Stopgap Program
Demotech downgraded the financial rating of five Fla. insurers this week, but one quickly chose to use a new state program that can keep it
Study: Climate Change Has Little Impact on Sales
While no one wants a home in a high-risk area, buyers generally ignore philosophical dangers and continue to pay a premium for properties in fire
Fla.’s Consumers Slightly More Optimistic in July
UF: Consumer-sentiment scores remain low, but July’s numbers were about a half point higher. Households making $50K or less held the most pessimistic views.
June Home Prices Cooled at Record Pace
Home price increases dropped 2 percentage points – but even at that rate, it would still take six months to return to any historically “normal”
FTC Fines iBuyer Opendoor $62M for ‘Tricking’ Sellers
The FTC alleges the iBuyer used “misleading and deceptive information,” and its sellers “made thousands of dollars less” than they could have via a traditional
Cost of Fair vs. Excellent Credit? $288 per Month
A borrower with a “fair” credit score could pay $103,626 more over the life of a 30-year loan compared to a similar borrower with an
Could Housing Solutions Help Close the Racial Gap?
U.S. housing discrimination has a long history, from redlining to VA loan policies. But if legal problems are solved, would an adequate housing supply do
HUD: $2.8 Billion in Grants for Homeless Services
Sept. 30 application deadline: HUD says the money prioritizes homeless youth and “survivors of domestic violence, dating violence, sexual assault and stalking.”
The Atlantic Hotel and Spa, Condo-Hotel Gets New Management
Atlanta, Aug. 02, 2022 (GLOBE NEWSWIRE) — Owner, operator and developer Hotel Equities (“HE”) was selected as the new management firm to operate luxury property
INVENTORY INCREASES FOR SECOND STRAIGHT MONTH IN BROWARD COUNTY
Just in! June 2022 released from Florida Realtors® detailing recent real estate activity in Broward County. The reports compare year-over-year data. Here are statistics on
NAR STUDY: INTERNATIONAL BUYERS ARE BACK
In NAR’s annual report, 1 in 4 (24%) international buyers chose Florida. Nationwide, they spent $5.9B, up 8.5%, even as single-family home sales dropped 7.9%.
Mixed-Income Project Hopes to Solve Problems
A Miami low-income housing project will soon offer market-rate units. The goal is to have some lower-income tenants’ costs paid by the higher-income renters.
U.S. Housing Market Collapse? Nowhere in Sight
The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news
What If a Dead Former Owner’s Deed Shows Up Online?
RE Q&A: A buyer bought her home from a widow. But even with a death certificate, the county didn’t remove her deceased husband’s name from
Remote Online Notarization One Step Closer
Buyers and sellers in separate states may soon find it easier to close a sale remotely after the U.S. House OK’d a bill standardizing the
Rent vs. Buy: How to Decide What’s Best for You
According to the U.S. Census Bureau, median rent continues to rise. With today’s low mortgage rates, there’s great opportunity for current renters to make a move into homeownership that stretches
How Down Payment Assistance Opens the Door to Homeownership
Many people are eager to buy a home right now while affordability continues to be a highlight of the current housing market. However, a recent survey by Sparks Research shows that
Should I Renovate My House Before I Sell It? [INFOGRAPHIC]
Should I Renovate My House Before I Sell It? [INFOGRAPHIC] Some Highlights In today’s hyper-competitive market, buyers are often willing to overlook cosmetic or minor
Three Ways Low Inventory Is a Win for Sellers
The number of houses for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association
Two Important Impacts of Home Equity
Equity continues to rise, helping American homeowners secure a much more stable financial future. According to the most recent data from CoreLogic, the average homeowner gained $9,800 in
Americans Are Gaining Confidence in the Economy
The September Jobs Report issued by the Bureau of Labor Statistics reported that the unemployment rate dropped to 7.9%. Though that percentage is well below what experts projected
Thinking of Moving?
Joshua Zorn, P.A.
Oct 9, 2020
Buying Homes, First Time Home Buyers, For Buyers, Move-Up Buyers, Selling Homes
Some Highlights If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home
Should You Buy a Retirement Home Sooner Rather than Later?
Every day in the U.S., roughly 10,000 people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to wait until
A Homeowner’s Net Worth Is 40x Greater Than a Renter’s
One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is
Is it Time to Move into a Single-Story Home?
Once the kids have left the nest, you may be wondering what to do with all of the extra space in your home. Chances are,
Why Pricing Your House Right Is Essential
In today’s real estate market, setting the right price for your house is one of the most valuable things you can do. According to the U.S.
Buyers Are Finding More Space in the Luxury Home Market
A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable
Guidance and Support Are Key When Buying Your First Home
In June, the number of first-time homebuyers accounted for 35% of the existing homes sold, a trend that’s been building steadily throughout the year. According
A Real Estate Pro Is More Helpful Now than Ever
Some Highlights A recent study shared by NAR notes that both buyers and sellers think an agent is more helpful than ever during the current health crisis.
Townhouse vs. Condo: Which Should You Buy?
TOWNHOUSE VS. CONDO: WHICH SHOULD YOU BUY? Whether it’s your first time buying or you just want to purchase something smaller, townhouses and condos are
What to Repair Before You List
When you’re getting ready to list your home, it’s of the utmost importance to ensure you are showing it in the best light. Taking time
Palm Beach Single-Family Luxury Home Sales Rise in August 2022; Total Active Listings Increase for Second Consecutive Month
MIAMI — Palm Beach County single-family luxury home sales and total inventory increased for the second consecutive month in August 2022, according to the MIAMI Association of
BROWARD HOUSING INVENTORY RISES, SUPPLY REACHES 2.5 MONTHS
Just in! August 2022 released from Florida Realtors® detailing recent real estate activity in Broward County. The reports compare year-over-year data. Here are statistics on
Most Expensive Homes For Sale in Fort Lauderdale – 5 Categories of Rare Finds
Most Expensive Home Listings This Week on Our List of Fort Lauderdale Homes for Sale: This week we highlight some of Fort Lauderdale’s most expensive
FLORIDA: A TOP 10 STATE FOR ‘STABLE’ HOUSING
Realtor.com’s high-level view of housing markets – foreclosures, underwater mortgages, rising prices, etc. – finds Fla. ranking third in overall stability. U.S. home prices continue
Broward County Luxury Home Sales Keep Surging in July 2022; Total Active Listings Rise Year-over-Year
Table of Contents Broward Total Luxury Sales Increase South Florida: A Bargain in Comparison to Other Global Cities & U.S. Metros Broward Total Active Listings
MORE INVENTORY ENTERS PALM BEACH MARKET, MEDIAN PRICE REACHES $600,000
Just in! July 2022 released from Florida Realtors® detailing recent real estate activity in Palm Beach County. The reports compare year-over-year data. Here are statistics
MORE INVENTORY ENTERS BROWARD MARKET, MEDIAN PRICE REACHES $600,000
“We’re continuing to see inventory improvement in Broward County. Listings have risen consecutively for the past three months. In July, active inventory rose by 37.2
New Fort Lauderdale & Suntex $70 Million Las Olas Marina
Big things are coming to Fort Lauderdale Beach! In May 2022, The City of Fort Lauderdale and SunTex Marinas broke ground on the new Las
Florida Announces Downpayment Assistance through Hometown Heroes Housing
The $100M program, will provide zero-interest loans to be used toward down payment and closing costs – up to 5% of the loan or $25K.
Most Global Web Searches for Miami Homes in July 2022
MIAMI — Colombia posted the most global web searches for Miami homes in July 2022, according to a new report by the MIAMI Association of REALTORS® (MIAMI).
Mamma Mia! ABBA’s Fla. Vacation Home for Sale
For slightly less than $4M, one ABBA fan can own a piece of history. The Swedish Longhouse style Gulf Coast home duplicates the same design
Fla. Town Considers End to Single-Family Zoning
Is single-family zoning good or bad? It’s a hot issue, but affordable-housing advocates says it’s one of the problems, and Gainesville might nix it altogether.
