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Mid-2025 Condominium Update

In this Mid-2025 update, Richard Swank, Associate General Counsel for Florida Realtors®, outlines recent legislative and form changes affecting condominium transactions in Florida.

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Anthony Acevedo Anthony Acevedo

New Cryptocurrency Scam

The hottest topic in Broker Risk Reduction is a new cryptocurrency scam targeting real estate professionals. The Secret Service reached out to NAR last week to alert us to this scam in which some agents have lost significant sums, including their entire retirement accounts.

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New Home Mortgage Applications Increase 10.8%

The increase in new home sales shows they continue to be an appealing option. The average loan size for new homes rose to $402,658 in September. The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for September 2024 shows mortgage applications for new home purchases increased 10.8% compared from a year ago. Compared to August 2024, applications decreased by 6%. This change does not include any adjustment for typical seasonal patterns.

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New Florida Flood Disclosure Requirements Coming

Starting October 1, 2024, there is a new flood disclosure requirement in Florida. Florida Statute 689.302 requires a seller to complete and provide a flood disclosure to a buyer of residential real property. This disclosure must be done at or before the time of a contract being executed.

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Port St. Lucie Ranks Third for First-Time Home Buyers

The real estate market is abuzz with discussions surrounding location, and affordability for first-time homebuyers. WalletHub states that Port St. Lucie stands out as the third-best location for first-time homebuyers, boasting the second-highest Millennial homeownership rate in the country at 64%.

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Positive News on Florida’s Property Insurance

Homeowners in every state have always dealt with home insurance policies, but Florida especially has been tackling costs and insurers for a long time. The good news is that new programs and insurance are rising to help businesses and homeowners thrive.

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Mortgage Applications Rise Amid Lower Interest Rates

As the year progresses, positive news has emerged in the real estate market, indicating that interest rates have reached their lowest levels in over a year. With interest rates declining, statistics show that homeowners are seizing the opportunity to refinance their home loans, leading to a rise in mortgage applications.

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Behind the Music: RWorld Leaders Embrace an Evolving Industry

The Broward, Palm Beaches & St. Lucie Realtors® is no stranger to thinking outside the box when it comes to strategy. The real estate industry across the nation is going through a reformation, and RWorld Leaders are taking action in a nontraditional manner to demonstrate their commitment to serving and leading with enthusiasm and dedication.

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Using Google Analytics to Enhance Your Business

As a real estate professional, understanding your client's motives by harnessing the power of data can help you make informed decisions and enhance your overall performance. Let's explore how analytics can shape your business strategies, specifically regarding website traffic, conversion rates, and user behavior. Prioritizing the measurement of your homebuyer's interests online can significantly contribute to the growth of your business.

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Florida Attracts 8.2 Million New Residents

Out-of-state folks are taking the longer route and relocating to Florida more now than ever before. From the state's beautiful waters and year round sunshine to more affordable housing options, it is no surprise why Florida has emerged as their top choice. Florida’s housing inventory and favorable housing pricing are only a few attributes that have contributed to the state's  significant influx of newcomers, with 8.2 million Americans relocating across state lines.

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