Real Estate News October 2018
October 31st
HOA's getting sued: 3 reasons whyNEW YORK – Oct. 31, 2018 – Issues related to drone usage, image copyrights and mold have increased the risk of litigation for HOAs, according to national insurer USI Insurance Services.
More> Last-minute wire transfer scamNAPLES, Fla. – Oct. 31, 2018 – When Maryland residents Roger and Shirl Lynn Butschky sold their home in East Naples more than a year ago, they didn't get their money after the closing.
Every dime – more than $450,000 – went to a fraudster who sent bogus new wiring instructions to the couple's title company at the last minute without their approval or knowledge More> |
Home prices still rising rapidlyORLANDO, Fla. – Oct. 31, 2018 – Higher mortgage rates and home prices are taking their toll on potential home buyers and slowing the recent rapid rate of median home price increases, according to a new report released by ATTOM Data Solutions, a real estate data firm – and the U.S. median home price rose 4.8 percent in the third quarter, the slowest rate of annual appreciation since the second quarter of 2016.
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Fair Housing Act criminal chargesORLANDO, Fla. – Oct. 31, 2018 – United States Attorney Maria Chapa Lopez announced that the United States filed a lawsuit, alleging that a Florida legal services provider and two of its officers violated the federal Fair Housing Act (FHA) by intentionally discriminating against Hispanic homeowners, targeting them with a predatory mortgage loan modification and foreclosure rescue services scheme.
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October 30th
The American Dream Depends on YouMRReport – Oct. 30, 2018 – As the nation goes to vote next week for key House and Senate positions, we take a look at how the outcome of your votes is likely to impact the housing market
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Home price gains slow for 5th monthWASHINGTON (AP) – Oct. 30, 2018 – U.S. home price gains slowed for the fifth straight month in August as higher mortgage rates have lowered home sales.
More> Floridian consumer confidence lowerGAINESVILLE, Fla. – Oct. 30, 2018 – Consumer sentiment among Floridians fell three-tenths of a point to 97.8 from a revised figure of 98.1 in September. Similarly, the University of Michigan's nationwide index of consumer sentiment decreased in October.
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Listing a haunted house?SANTA CLARA, Calif. – Oct. 30, 2018 – Realtor.com released its annual Haunted Real Estate Report and calls the 2018 findings "spookier than one might expect."
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October 29th
NAR buyer/seller studyWASHINGTON – Oct. 29, 2018 – Single female buyers continue to be a powerful force in the market, while low inventory, rising interest rates and increasing home prices hold back first-time buyers despite their high interest in buying a home.
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Who’s best at home valuationsRICHMOND, Va. – Oct. 29, 2018 – Do you have a pretty good idea of what your house is worth? Could you estimate within, say, 5 percent of what it's likely to sell for? If so, would that make you more accurate about your home value than an estimate from a computer program loaded with recent sales data and algorithms?
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October 26th
Buyers don’t shop for a mortgageWASHINGTON – Oct. 26, 2018 – Many buyers potentially leave money on the table by failing to contact more than one lender when shopping for a mortgage. Two-thirds – 65 percent – of 1,000 buyers recently surveyed said they didn't shop around for a mortgage, despite it being the biggest purchase they'll ever make.
More> Florida’s population has grown 11%ORLANDO, Fla. (AP) – Oct. 26, 2018 – A new estimate shows Florida's population grew by almost 11 percent in the past eight years.
The estimate released this week by the University of Florida's Bureau of Economic and Business Research puts Florida's population at 20.8 million residents as of this past April. More> |
Remodelers to decline next yearNEW YORK (AP) – Oct. 26, 2018 – General contractors and other small businesses in the home remodeling industry can expect revenue to slow in 2019, the result of rising mortgage rates and sluggish home sales.
More> Sellers could lose momentumCHICAGO – Oct. 26, 2018 – A shift is occurring in many housing markets. As home prices continue to rise along with mortgage rates, more potential buyers are choosing to postpone a purchase – and more home sellers are now facing competition. In many locations, sellers should no longer expect the quick sale they've seen neighbors get in the past.
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What if Amendment 2 failsORLANDO, Fla. – Oct. 26, 2018 – More than 2 million of Florida's 5 million commercial properties, rental units, second homes and vacant lots are facing property tax hikes not seen in over a decade if voters do not approve Amendment 2 on Nov. 6.
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October 25th
Average mortgage rates edge upWASHINGTON – Oct. 25, 2018 – Long-term U.S. mortgage rates edged slightly higher this week amid continued anxiety in financial markets as interest rates rise.
More> Affluent millennials fear meltdownNEW YORK – Oct. 25, 2018 – Affluent millennial's, part of the largest generation that grew up in the shadow of the Great Recession, see another market meltdown in their future. More>
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Home buyers you want to save moneyIRVINE, Calif. – Oct. 25, 2018 – While recent signs suggest that the real estate market may be shifting toward home buyers, prices are still rising in many areas of the country. The median sales price in July was $230,411 – up 5.8 percent year over year. More>
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Pending sales rise a bit in SeptWASHINGTON – Oct. 25, 2018 – Pending home sales rose slightly in September with substantial increases in both the West and Midwest, according to the National Association of Realtors® (NAR).
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October 24th
New-home sales slump 4th monthWASHINGTON (AP) – Oct. 24, 2018 – Sales of new U.S. homes plunged 5.5 percent in September, the fourth straight monthly drop as the housing market cools with mortgage rates rising.
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HUD alleges fair housing violationsWASHINGTON – Oct. 24, 2018 – The U.S. Department of Housing and Urban Development (HUD) announced two new charges against property managers in Wisconsin and Ohio.
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October 23rd
Palm Coast Park Master PUDPalm Coast – Oct 23, 2018 – Council clears way for developer to add 1,000 more homes to plans for a proposed community along U.S. 1 north of Palm Coast Parkway, bumping the total to 4,960 homes.
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Buying? You may have leverage soonNEW YORK – Oct. 23, 2018 – Keith and Kylie Beukema were bracing for a yearlong slog as they started hunting for a larger home in the Denver area, one of the hottest housing markets in the country the past few years.
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HOA wants proof of auto ins?STUART, Fla. – Oct. 23, 2018 – Question: I was recently informed by our association manager that as a resident I'm required to provide them with my proof of auto insurance info because they're liable if something happened involving my vehicle on their property.
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October 22nd
Economy suffer if Amendment 2 failsORLANDO, Fla. – Oct. 22, 2018 – According to a recent study by the independent research institute Florida Tax Watch, Florida faces a $700 million tax increase if Amendment 2 fails, with a large majority of that tax burden falling on small businesses.
More> New tax breaks proposedWASHINGTON (AP) – Oct. 22, 2018 – The Trump administration is proposing rules for investors in a new program that it says could have a big impact on economically depressed areas around the country. About 8,700 so-called "opportunity zones" have been set up in all 50 states to lure investors and developers with tax breaks.
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New credit score to help buyersLAS VEGAS – Oct. 22, 2018 – Experian, FICO and Finicity announced a new credit score Monday during the Money 20/20 USA conference in Las Vegas.
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$37M more for Hurricane Irma victimsMIAMI – Oct. 22, 2018 – The U.S. Department of Housing and Urban Development (HUD) awarded an additional $50 million in voucher funding to 26 public housing agencies (PHAs) in Puerto Rico, Texas, California and Florida – areas severely affected by major natural disasters in 2017.
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October 19th
Interest rates to return to ‘normal’WASHINGTON – Oct. 19, 2018 – New York Federal Reserve President John Williams predicts that the Federal Reserve's target interest rate would return to normal or neutral levels within "the next year or so." The rate directly impacts adjustable-rate mortgages but only indirectly affects fixed-rate mortgages.
More> Renters think owning costs moreWASHINGTON – Oct. 19, 2018 – Research released by Freddie Mac Multifamily finds that a large and growing segment of renters continue to believe renting is a more affordable option than owning, even as many of those same renters are feeling the squeeze of rising housing costs. All generations of renters continue to perceive renting as the more affordable housing choice and remain satisfied with their current situation.
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Housing market positive track in SeptORLANDO, Fla. – Oct. 19, 2018 – Florida's housing market reported more closed sales, higher median prices and more pending sales in September compared to a year ago – when Hurricane Irma struck the Florida Keys on Sept. 10, 2017 – according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 21,087 last month, up 17 percent compared to September 2017.
More> Mortgage shopping can save $$$ P.Y.ORLANDO, Fla. – Oct. 19, 2018 – Not all mortgages are created equally – though not all home buyers seem to understand that. Buyers who shop around for a mortgage could potentially save a lot of month monthly, annually and over the life of their loan.
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Existing sales decline across countryWASHINGTON – Oct. 19, 2018 – Existing-home sales declined in September after stagnation in August, according to the National Association of Realtors® (NAR) latest home sales report. None of NAR's four major regions saw a gain in sales activity last month.
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October 18th
Business loss if Amendment 2 failsTALLAHASSEE, Fla. – Oct. 18, 2018 – Florida businesses and renters could find their property taxes raised by $700 million at the start of 2019 – a point advocates of Amendment 2 want voters to consider before casting their ballot in November.
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Mortgage rates fall slightlyWASHINGTON (AP) – Oct. 18, 2018 – Long-term U.S. mortgage rates dipped slightly this week, taking a pause after weeks of steady increases stoked by rising interest rates.
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‘Assignment of Benefits’ fightTALLAHASSEE – Oct. 18, 2018 – After Hurricane Michael caused massive damage in Northwest Florida, a new front opened in the battle over the controversial insurance practice known as "assignment of benefits."
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