Real Estate News
Methodology for the Housing Affordability Index
The NATIONAL ASSOCIATION OF REALTORS® affordability index measures whether or not a typical family could qualify for a mortgage loan on a typical home. A typical home is defined as the national median-priced, existing single-family home as calculated by NAR. The typical family is defined as one earning the median family income as reported by the U.S. Bureau of the Census. The prevailing mortgage interest rate is the effective rate on loans closed on existing homes from the Federal Housing Finance Board and HSH Associates, Butler, N.J. These components are used to determine if the median income family can qualify for a mortgage on a typical home.
Unpaid homeowner association fees can lead to foreclosure
Thousands of Americans who have generally kept up with their mortgages are still in danger of losing their homes because they made a fateful trade-off in this shaky economy — they let their homeowner association dues slide.
Many homeowners are learning to their surprise that condo and neighborhood associations that oversee security patrols, mow lawns, plant flowers and clean the community swimming pool might have the right to foreclose when dues aren’t paid. That right often is written into the purchase agreement signed by the homeowner
‘Short Sale Kid’ tries to outsmart mortgage firms
Nathan Jurewicz calls himself The Short Sale Kid.
At 27, the brash real estate agent drives a Lamborghini, sports neon hair and boasts of hauling in $100,000 a month in a market where others are fighting to survive
SOWAL SALES SLUMP
Experts: Price cuts, low interest rates to aid uptick
Code of Ethics
Code Of Ethics
Navarre Pass plan persists
NAVARRE BEACH — The ongoing economic recession has slowed the momentum to reopen the Navarre Pass, but it has not stopped it.
Different groups have worked for decades to reopen the pass, and the current group is the Navarre Pohlmann Pass Committee.
“If the economy is bad and people are not hiring and businesses are closing, it’s doom and gloom somewhat,” said Chuck Pohlmann, chairman of the Navarre Pohlmann Pass Committee, named after his late father.
Tier Three resort planned
Henderson Beach Resort, a 13-acre, 313-unit resort complex in Crystal Beach, could become Destin’s next Tier Three development. Development would stretch between Scenic Highway 98 and U.S. 98 near the state park
Existing home, condo sales rise in February
Florida’s existing home sales rose in February, making it the sixth consecutive month sales activity showed increases in the year-toyear comparison, according to the latest housing data released by the Florida Association of Realtors.
Leading economic indicators, homes sales unexpectedly higher
A flood of federal bailout money pushed a private research group’s monthly forecast of economic activity unexpectedly higher in December, while a decline in home prices boosted housing sales.
Real Estate Contract Info
One of the most critical steps in the home-buying process is drawing up the purchase contract. Considered the blueprint for the entire transaction, the real estate contract details everything from purchase price to occupancy dates.
