Buyers wary of a fixer-upper? AI not only redecorates, it will soon quote remodeling cost estimates, hire contractors and help users buy pieces of furniture. NEW ORLEANS – Think Geek Squad meets The Property Brothers. At the National Association of Realtors iOi Summit last month in Miami, innovators, futurists, investors and real estate professionals got together to chat like chatbots about PropTech....
To secure a home, some U.S. buyers still agree to make up the difference when a mortgage appraisal comes in at less than the contract price – an often risky move. NEW YORK – Some buyers looking for a luxury home in a competitive market waive the so-called appraisal gap to entice a seller to accept their offer. Appraisal gaps happened in about 11% of residential transactions in June 2023,...
Real estate prices are going back up, one news headline says. No, they’re dropping, says another. Confused buyers don’t know whether to move quickly or step back. RICHMOND, Va. – Question: During the past year we’ve heard that real estate prices are falling and also that real estate prices are rising. Does anyone really know what’s happening with home values? Answer: There are...
The My Safe Florida Home program could run out of funds, and homeowners are encouraged to apply soon for up to $10K grants – $2 for every $1 of matching funds. TALLAHASSEE, Fla. – Florida Chief Financial Officer (CFO) Jimmy Patronis released an update on the My Safe Florida Home program, which Floridians harden their homes against storms while reducing their insurance premiums. Under...
It’s the second no-interest-rate-change decision over the past three meetings. Inflation is still above 2%, however, and the Fed says a future increase is still likely. WASHINGTON (AP) – The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. But Fed...
The total number of mortgage loans now in forbearance fell by 6 basis points month-over-month to 0.33% as of Aug. 31, according to data from the Mortgage Bankers Association (MBA). Roughly 165,000 homeowners are currently in forbearance plans. During August, the share of Fannie Mae and Freddie Mac loans in forbearance decreased 1 basis point to 0.19% while Ginnie Mae loans in forbearance decreased 15...
The nation’s consumer bureau took a first step to erase medical debt from credit reports and lending decisions because that type of debt “has little predictive value.” WASHINGTON – The Consumer Financial Protection Bureau (CFPB) – the national agency focused on consumer issues – began a rulemaking process to remove medical bills from Americans’ credit reports. The CFPB outlined...
Any home can have mold, but it’s a notable problem after storms like Hurricane Idalia. The EPA says mold can sometimes be present but unseen. Start with a smell test. MARSHALL, Texas – Hurricanes and other severe storms, a humid climate, leaky pipes or continuous rain can make homes susceptible to flooding and mold. According to the Environment Protection Agency (EPA), molds are a natural part...
Three Fla. agencies will receive a total of $1,360,910, ranging from $29,824 for Citrus County to $1,262,250 for the Sarasota Housing Authority. WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) awarded $16.1 million in HUD-Veterans Affairs Supportive Housing (HUD-VASH) vouchers to 71 Public Housing Agencies (PHAs) across the...