Posts Tagged ‘property management’
$25B in Rental Assistance Is on the Way: Who Will Qualify?
As part of last month’s COVID-19 stimulus package, $25 billion in rental assistance funds are expected to be disbursed to states today, Jan. 26. There could be a rush for funds with an estimated 14 million Americans are behind on their rent. Further, rental arrears in the country may be near $70 billion, CNBC reports.…
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Biden Takes Aim at Appraisal Bias, Housing Disparities
The Biden administration is zeroing in on homeownership and small business development as avenues to close racial wealth gaps, announcing a spate of new programs Tuesday aimed at supporting communities of color and disadvantaged neighborhoods. The announcement comes on the centennial of the “Black Wall Street” massacre in Tulsa, Okla., a racist attack on a…
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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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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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Out-of-state buyers seek move-in ready Orlando homes
Recent clients of Orlando real estate agent Kim Arena knew they wanted out of California, and they decided at the airport their destination would be Central Florida. The couple originally planned to fly to Tennessee and search for homes in Memphis. However, they researched the city while at the airport and decided they wanted to look elsewhere.…
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Eviction Moratorium Still in Effect
The Centers for Disease Control announced it is extending by an additional three months—through June 30—its nationwide eviction moratorium, a measure that has come under increased scrutiny recently. The moratorium prohibits housing providers from evicting tenants who are unable to pay their rent due to financial hardship from the COVID-19 pandemic. The moratorium, however, has been blamed…
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Hot Housing Market Hasn’t Produced Home Flipping Boom
Quick home flips may be more challenging to accomplish in a heated housing market. The number of homes flipped by investors decreased in 2020 for the first time since 2014 as profit margins slipped, according to a new report from ATTOM Data Solutions, a real estate data firm. ATTOM defines a home flip as a…
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Orlando home value appreciation trails rest of the nation
A new study shows Orlando home prices are appreciating slower than the national average — but that’s not necessarily bad. Home prices in the Orlando metro climbed 7.3% year over year in the fourth quarter, according to a Feb. 23 report from the Federal Housing Finance Agency. That’s slower than the national average of 10.8%, and…
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Buyers Snatch Up New Listings as Quickly as They’re Available
Home sales could easily be 20% higher if more homes were for sale, says Lawrence Yun, chief economist of the National Association of REALTORS®. Existing-home sales—completed transactions for single-family homes, townhomes, condos, and co-ops—rose 0.6% in January compared to December 2020 and are up nearly 24% over a year ago, the National Association of REALTORS®…
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