Real Estate News For You This Monday.
Appraisers Set Higher Values On Homes In August
According to Quicken Loans a retail mortgage lender,Appraisers are placing significantly higher values on homes in August, but it seems it is still not enough for homeowners, who are still overestimating their home’s value. Home values in August were up 1.73%.
New Home Sales Surge.
New home sales surged in August to the highest level observed in the Mortgage Bankers Association’s Builder Applications Survey since it began in 2012. The survey found that seasonally adjusted new home sales for August reached 601,000 sales, while on an unadjusted basis, applications were up following a sluggish July.
Home Flipping Increases
As posted at the titlereport.com home flipping of single family homes and condos has increased 14% from the last quarter, with a total of 51,434 completed flips. This is a six year high.
A home flip is defined as a property that is sold in an arms-length sale for the second time in a 12 month period.
Citizens Rates Approved for 2017
The Florida Office of Insurance Regulation on Friday approved 2017 rates for Citizens Property Insurance Corporation that address a disturbing increase in non-weather water loss claims and litigation that prompted an overall 6.4 percent increase for homeowners’ multiperil policyholders across the state.
7 Things That Could Turn Off Homebuyers
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