2022 Florida Condo Law Signed – Senate Bill SB-4D
The Florida Legislature passed and the Governor has signed Florida Senate Bill SB-4D into law. These new condominium requirements are part of both the Florida Statutes 553 for Building Construction Standard as well as Florida Statutes 718 & 719 regulating Florida Condominiums, HOAs, and Cooperative Associations. The law pertains to…
Broward County Real Estate Trends April 2022
The average 30-year fixed rate mortgage exceeded 5% in April, the highest level since 2011, according to Freddie Mac. The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant impact on refinance applications, which are down more…
Broward County March 2022 Real Estate Trends
Nationally, existing home sales recently dropped to a 6-month low, falling 7.2% as buyers struggled to find a home amid rising prices and historic low inventory. Pending sales are also down, declining 4.1% as of last measure, according to the National Association of REALTORS®. Builders are working hard to ramp…
Broward County February 2022 Real Estate Trends
The U.S. real estate market remains hot ahead of the spring selling season, with existing home sales up 6.7% as of last measure, according to the National Association of REALTORS®. Experts attribute the growth in sales to an uptick in mortgage interest rates, as buyers rushed to lock down their…
Broward County December 2021 Real Estate Trends
The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached…
Broward County November 2021 Real Estate Trends
The economy is improving, unemployment is falling, and the U.S. real estate market remains strong as we head into the holiday season, a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was…
Broward County October 2021 Real Estate Trends
The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction…
Broward County September 2021 Real Estate Trends
Nationwide, existing home sales were down slightly in August, falling 2% after two consecutive months of increases, according to the National Association of REALTORS®. The decline in existing home sales coincides with rising sales prices, which have continued to soar into fall, with the median sales price of existing homes…
New Pricing Policy for National Flood Insurance
Major Changes to the National Flood Insurance Program On Oct. 1, 2021 FEMA began implementing a new pricing methodology called Risk Rating 2.0: Equity in Action. These changes will apply to new policies. Most existing policies will not be affected until after April 1, 2022. What’s Changing? Since the 1970s, National…
Broward County August 2021 Real Estate Trends
The booming U.S. housing market has spilled over to the rental market, which has seen demand for apartment and single-family rentals skyrocket this year, as high sales prices and an inadequate supply of available housing have forced many prospective buyers to rent for the foreseeable future. Increased demand for housing,…