Real Estate News

Sellers could lose momentum if they overprice listing

Oct. 26, 2018 – A shift is occurring in many housing markets. As home prices continue to rise along with mortgage rates, more potential buyers are choosing to postpone a purchase – and more home sellers are now facing competition. In many locations, sellers should no longer expect the quick sale they’ve seen neighbors get in the past. The number…


Florida offers some owners up to $10K for septic-tank upgrade

The Florida Department of Environmental Protection (DEP) announced a Septic Upgrade Incentive Program to improve water quality and protect Florida’s springs. The program encourages homeowners to enhance their conventional septic systems by adding advanced features to reduce nitrogen pollution. This Septic Upgrade Incentive Program can offset the cost of an upgrade by providing certified installers and licensed plumbers up to…


What is a ‘special assessment’ – and do I have to pay it?

Question: Our association is specially assessing all of the owners several extra payments to fund a refinance of a loan we took out for the clubhouse renovation from a few years ago. Can they do this? – Joel Answer: As long as your association follows the correct procedure, it can pass a special assessment. When your association has a unique…


Buyers want to know: What type of mortgage should I get

There are many different types of mortgages available to home buyers. With such terms as “adjustable rate mortgages,” FHA, VA, USDA and jumbo or conforming loans, it can be confusing for new home buyers to choose a mortgage. To help determine what type of mortgage is best for you, here’s a closer look at different types of mortgage loans: Conventional…


What does a landlord owe a tenant if the A/C goes out?

Question: We rent out a condo where the association controls the air conditioning and all utilities. Our tenant reported to us that the apartment was without A/C for two days and it was unbearable, so they stayed in a hotel. With the summer heat, I am sure it was sweltering in the apartment. They want me to reimburse them. I…


Too few buyers question the need for a 30-year mortgage

NEW YORK – July 17, 2018 – For those looking to buy homes, the most popular way to finance a home purchase is to take out a 30-year mortgage. With mortgage rates having been exceptionally low for years, it has been possible to get extremely attractive monthly payments even on relatively large mortgage loans, and the 30-year term gives homeowners…


Congress floats flood insurance ideas – but passage iffy

WASHINGTON – July 17, 2018 – U.S. lawmakers are struggling to secure passage of a bill that extends the National Flood Insurance Program (NFIP) past its scheduled end on July 31, 2018. However, the path to get there is unclear. NFIP reauthorization could easily get bogged down in red tape as the House and Senate look at different ways to…