Tag: Florida real estate
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One in Three Home Buyers Now Pay Cash. Here’s What This Means for Everybody Else.
A third of home buyers this year haven’t needed a mortgage. The proportion of people paying cash is “well above pre-pandemic levels,” according to the National Association of Realtors®. It’s hard to compete with buyers who don’t need to wait for a lender’s approval. These wealthier buyers are shaping markets by snapping up the lion’s…
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Real Estate Update: Housing Agencies, States Suffer “Staggering” Blows in Shutdown
The U.S. federal government has been shut down for three weeks now. The impact on everyday life for many has been serious. What might not be obvious is the impact on federal housing agencies and state-based real estate industries. Sellers and buyers are feeling the effects as well. In some states, the impacts are outsized…
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Can AI Empower Home Buyers to Represent Themselves? This Month, Homa Debuts in Florida
A new real estate company, Homa, says it can cut the “red tape, middlemen, and mystery” from the home buyer’s experience. It’s an AI-powered tool that helps customers handle their own purchases, step by step. Homa also claims to cut out the pressure and bias that buyers face in the traditional market.
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Starting Oct. 1st, Florida Sellers Must Disclose Past Flood Insurance Claims
Home sellers in Florida: Look out for a new flood insurance disclosure rule. Effective October 1, 2024, you must tell prospective buyers if your home has ever had documented flood damage. Ask your Florida seller’s agent about the required flood disclosure — which the buyer must receive before signing the sales contract. Specifically, the declaration…
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Condo Bubble? What’s Going On in Florida Now?
Florida is a snowbird’s paradise. It’s no surprise that condos make up a major portion of the market. Recently, though, Florida condos are presenting specific challenges. They’re getting hard to finance. Home buyers in Florida can expect to put at least 25% down. For coastal homes, which lenders consider risky, the expected down payment can…
