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.
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.
The main benefit expected from artificial intelligence (AI) is speed. A home valuation, for example, could arrive in minutes. Other routine tasks are already faster.
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.
Last year, 522 U.S. towns/cities had an average home price of $1M or more, but 58 of those have seen average prices drop below $1M, including four in Fla.
A major bank failure has scared investors. It’s unclear if things will get worse, but financial stress could lower mortgage rates and push the Fed to reconsider rate increases.
Today’s homebuyers’ monthly mortgage payments are almost 30% higher than year-ago buyers due to higher mortgage rates.
Real estate agents should have a unique personal brand that can follow them if they make any changes during their career.
Financially astute wealthy buyers don’t like the uncertainty of today’s market, so some have taken a wait-and-see attitude with home buying.
In a heated political era, no one can predict what the final 2024 U.S. budget will look like, but the White House’s initial proposal boosts a number of housing programs.
