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Double whammy: Florida condo market grapples with rising insurance costs, milestone inspections

Housing Wire

Inventory has gone from a three-month supply a year ago to at least six months, so really we are into a buyers’ market now.” Additionally, condo inventory jumped from a 90-day average of 2,926 units a year ago to 5,623 units in mid-July 2024, according to Altos Research. Data from Altos Research supports Haydon’s assertion.

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Pending legislation would end home inspection waivers in Massachusetts

Housing Wire

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada.

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Buyers backing out of purchase agreements at elevated rates: Redfin

Housing Wire

In spite of rapidly rising inventory, high prices and mortgage rates are still keeping buyers at bay. Buyers often back out during the inspection period because they find something they don’t like, but affordability is really the underlying issue.

Buyers 441
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The New Home Buyers’ Home Insurance Checklist

Lamacchia Realty

THE NEW HOME BUYERS’ HOME INSURANCE CHECKLIST Buying your first home can be both an exciting and a daunting experience. As with most big purchases, choosing to work with an insurance company can protect you from financial hardship, but how do you choose the right coverage? What is Homeowners Insurance?

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5 ways to provide overwhelming value to buyer clients

Housing Wire

One of the top concerns for homebuyers as well as agents right now is the historic lack of inventory. Change the search area, change the type of home or find an equally great school district to look in that has more inventory. Manage the inspection process so they don’t freak out over small items. Overcommunicate.

Clients 441
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Record Share of Million-Dollar Homes Makes Buying More Challenging

Appraisal Buzz

Even though the inventory has lately increased, many homeowners are locked in by low rates, thus it is still roughly 30% below pre-pandemic levels. Many Bay Area buyers–especially those without tech money–are getting more selective, jumping ship if a small problem comes up in, say, the inspection.

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Costly Home Renovation Mistakes to Avoid

Empire Appraisal Group

Not reviewing homeowners’ insurance coverage It’s important to determine how much homeowners insurance you need for your unique circumstance. Renovations or upgrades could impact your insurance coverage limits and might not be covered by your existing policy.