Census Bureau: Over a five year period (2016-2021), the number of these renters who can afford to buy rose 87%. Reasons vary, but most understand the value of ownership.
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%.
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.
Handwritten correspondence was once expected. Today it suggests a personal relationship and Realtor who actually cares, even though machines can now pen letters.
Multifamily starts surged 24% in Feb., suggesting future relief for renters and condo buyers, but single-family starts rose only a marginal 1.1%.
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.
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 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.
