U.S. home mortgage rates soared towards 7 percent this week, pushing away many potential home buyers as affordability pressures for some pushed home ownership further out of reach. The average rate on the popular 30-year fixed mortgage hit 7.22 percent on July 6, reaching its highest point since November, according data published by to Mortgage News…
Mortgage Rates Soar to Highest Level for the Year
July 8, 2023
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California Insurance Crisis Goes Beyond Wildfire Risk: Experts
July 7, 2023
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Property owners across the state have seen their policies dropped by insurance companies due to fire danger, but experts say the state’s regulations are more impactful than the risk posed by natural disasters. After State Farm and Allstate both declared in May they will no longer accept new homeowners’ policies in California, many property owners…
More Than Wildfire Risk Causing Insurance Companies to Reconsider California: Experts
July 7, 2023
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Business & MarketsCaliforniaCalifornia Department of Insurancehome insuranceinflationNorthern CaliforniaPolicies & Impactsreal estateRegional & State NewsreinsuranceSouthern CaliforniaState FarmState NewsUSUS Newswildfire
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Property owners across the state have seen their policies dropped by insurance companies due to fire danger, but experts say the state’s regulations are more impactful than the risk posed by natural disasters. After State Farm and Allstate both declared in May they will no longer accept new homeowners’ policies in California, many property owners…
IN-DEPTH: Bank Branch Closures Leave Vacant Buildings, Inconvenienced Customers
July 7, 2023
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When Pamela Bigelow, a lifelong resident of Duncan, Arizona, goes to the bank, she must make a day of it. Duncan, population 677, lost its last bank branch about six years ago. Now, when Duncan residents need cash, a cashier’s check, or to get a loan, they must travel 40 miles to the copper mining…
NSW Proposes Rent Increase Limits in System ‘Rebalance’
Forcing landlords to explain above-inflation rent increases is among radical changes to the New South Wales (NSW) rental market being floated by the government. A discussion paper released on Friday proposes measures beyond the Minns government’s promised rental reforms to end no-grounds evictions, allow more pets in rentals and introduce a portal bond scheme. Among…
Listings for Lake Homes and Lots Jump Nearly $6 Billion Since Winter
A new report from Lake Homes Realty in Hoover, Alabama, shows that lake home and lot listings have escalated to $5.9 billion since February of this year. Over the past five months, lake properties have been flooding the market with a total of almost 74,000 currently for sale in 34 states across the nation. The…
Vancouver Home Prices Ticking up as Supply Remains Under Pressure: Real Estate Board
The Real Estate Board of Greater Vancouver says last month’s home prices ticked up from May as prospective homebuyers faced a dearth of supply in the region. The board says the composite benchmark sat at more than $1.2 million last month, down 2.4 percent from June 2022 but up 1.3 percent from May. Sales in…
Is The Theory Behind MLS Still Valid?
Dear Monty: My neighbors are trying to sell their home. They have used two different agents and have yet to be successful. There have been three showings in six months. They reduced the price because they wanted to sell. The second agent told them three months ago that the price was right and nothing with…
Why You Have Rising Property Taxes and What You Can Do About It
Homeowners have recently seen property taxes become higher than ever. The surge in the cost of owning property started with the arrival of COVID and continues to rise. Many people wonder why and want some tax relief. Some homes have had their property taxes increase more than 37 percent since 2020. CBSNews reports that the…
DOJ Argues Florida Law Restricting Chinese Land Ownership Violates Constitution
June 30, 2023
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The Department of Justice on Tuesday challenged a Florida law that bars Chinese citizens from owning land, asserting it violates federal housing law and the 14th Amendment. The department filed a statement of interest (pdf) in a case challenging the provision, arguing the Florida law restricting Chinese land ownership by U.S. military installations and major…
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