Housing Market Predictions 2022: When Will Prices Drop?
Low inventory, fervid competition and massive price gains have battered buyers since 2020, but now rapidly rising mortgage rates are making it even harder to purchase an affordable home. For many buyers, higher mortgage rates mean they can no longer afford homes in specific price ranges. The problem is that even modest single-family homes cost as much…
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Real Estate Pros See Rentals as Lead Generators
Experienced real estate pros are turning to rentals to help expand their businesses and provide an added revenue-generating opportunity, finds a new study from RentSpree, a software provider for tenant screening, renter management, and more. In 2020, real estate agents with three years or more of experience were three times more likely to complete a…
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Developer moves forward with hotel and condos for beachside residential community
A Tennessee developer and a Space Coast construction company plan to bring a hotel and 147 condos to a mixed-use community in Brevard County’s coastal city of Satellite Beach. Memphis-based Woodshire-Brevard LLC, a firm related to Palm Bay-based construction firm Don Facciobene Inc., plan to build a 222-room hotel and three condominium buildings in the…
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Lead-based Paint Violations Surge in Remodeling Boom
As home remodeling increases, the EPA is warning remodelers to take special precautions in older homes and watch out for lead-based paint violations. Lead-contaminated dust from chipped or peeling lead-based paint in homes built prior to 1978 is one of the most common causes of elevated blood levels of lead in children, according to the U.S.…
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Some Lenders Set to Resume Foreclosures in July
Pandemic-related moratoriums on foreclosures and evictions are set to expire June 30, and some lenders plan to start resuming foreclosures in July. About 2.1 million homeowners are still in mortgage forbearance, according to the Mortgage Bankers Association. As of April, about 1.8 million households who aren’t in forbearance were 90 days delinquent on their loan,…
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Florida REALTORS® Files Suit Against CDC
The Centers for Disease Control and Prevention is facing another challenge to its federal eviction moratorium, which has prevented evictions of renters during the COVID-19 pandemic. Florida REALTORS® filed a lawsuit this week in the U.S. District Court in Tampa that alleges the moratorium is “an unprecedented and unlawful federal administrative order” that oversteps the…
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Orlando homes sell at fastest rate in 15 years
Orlando buyers have to act fast to score a home. The average Central Florida home in April sold in 42 days, the shortest period in any month since 2005, according to the Orlando Regional Realtor Association. The average number of days on market dropped from 48 days in March. Selling in minutes Even though 42…
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What Is Property Management?
Property management is the practice by which a third party is responsible for maintaining a residence’s status quo and appeasing its occupants. Therefore, property managers are traditionally hired by rental property owners to oversee the daily operations of their real estate assets and deal with any questions or concerns the tenants may have. If the…
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Summer Vacation Rentals Are Already Skyrocketing
As vaccination rates rise, many states are loosening restrictions on travelers, prompting some Americans to look for homes to book for this summer. Short-term vacation rentals are seeing a surge in demand and their owners are prepared for a lively summer. “This is probably contradictory to what a lot of people may think, but it’s…
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Foreign Investors Compete for U.S. Suburban Homes
Foreign investment firms are reportedly making a big play for single-family homes in American suburbs. These overseas investment firms traditionally have targeted office buildings, hotels, and shopping centers internationally. But they are seeing promise in buying or building rental homes—by the thousands—throughout the U.S., The Wall Street Journal reports. They’re targeted suburban neighborhood homes near…
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