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Virginia Realtors: Zillow’s touring agreement may not be legal

Housing Wire

Earlier this week, Zillow launched a new “touring agreement,” a nonexclusive contract for buyers and agents to use for home tours. While many in the industry have been intrigued by Zillow’s new pilot program, Virginia Realtors is taking a tougher stand. This agreement must be signed prior to an agent taking a buyer to tour a home.

Legal 302
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Rising insurance costs, ample inventory create a unique market in Southwest Florida

Housing Wire

“I think one of the major trends we are seeing is that our overall inventory is up 60% year over year compared to 2023,” said PJ Smith, president of the Naples Area Board of Realtors and the broker-owner of Naples Golf to Gulf Real Estate. “We homeowners insurance policy was roughly $1,700 in 2023. In comparison, the average U.S.

Insurance 372
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Mortgage lending could be halted by flood insurance program’s expiration, experts warn

Housing Wire

Five days remain in the currently authorized National Flood Insurance Program (NFIP). When property owners invest in loss mitigation, they should be promised access to coverage and relief on their premiums,” Douglas Heller, director of insurance at the Consumer Federation of America , said to the Banking Committee earlier this month.

Insurance 427
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Brokerage executives double down on their lead generation strategies

Housing Wire

He said his company is focused on buyer-side agents, whose activity is expected by some to be impacted by the National Association of Realtors’ (NAR) $418 million nationwide settlement of the commission lawsuits. Now, they’re incentivized because they share the profits in the title insurance,“ Samson explained.

Brokerage 337
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Pending home sales fell 7.1% in August

Housing Wire

in August, according to data released Thursday by the National Association of Realtors (NAR). An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mirroring the trend for new home sales , pending home sales fell 7.1%

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Fla. Insurer Growing as 3 Private Insurers Cancel Policies

Empire Appraisal Group

Insurer Growing as 3 Private Insurers Cancel Policies. Insurer Growing as 3 Private Insurers Cancel Policies | Florida Realtors. The trend recently has spread to Orange, Seminole, Osceola and Lake counties in Central Florida, insurers contend. source: Fla. By Ron Hurtibise. State-owned Citizens Property Ins.

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Inflation holds at 3.7%. Is it enough to dissuade the Fed from another rate hike?

Housing Wire

Indices that increased in September were rent, owners’ equivalent rent, lodging away from home, motor vehicle insurance, recreation, personal care and new vehicles. If mortgage rates pass 8%, housing market activity will see a contraction, Sturtevant said. However, it’s still well above the Fed’s 2% target.