New home construction dropped 2.6% in April following a decline in March, but the drop comes from a cutback in multifamily units. Single-family homes rose 0.4%. Source: Florida Realtors
Ransom virus infecting PCs worldwide
Updated your virus protection lately? Do it now. A globally spreading program locks computers and demands payment if you ever want to see your data again. Source: Florida Realtors
IRS: The home office deduction is often overlooked
Agents who work at home could save money on their income taxes, but some apparently don’t. The IRS offers two ways to deduct the cost of a home office. Source: Florida Realtors
30-year mortgage rates head higher again – to 4.05%
Rates stayed about the 4% mark and moved higher for the second week in a row, rising from last week’s average 4.02% to 4.05% this week. Source: Florida Realtors
Okeechobee reservoir bill becomes law
Gov. Scott signed SB 10 Tuesday – one of the bills highlighted in Florida Realtors’ end-of-session report as a real estate “win” for the 2017 legislative session. Source: Florida Realtors
Survey: Buyers/sellers shake off last month's doldrums
Fannie Mae’s monthly survey on consumers’ attitudes about the current real estate market increased 2.2 points in April after dipping in March. Source: Florida Realtors
Bad credit scores can triple home insurance costs
In Florida, a homeowner with bad credit pays, on average, 25% more for property insurance than an owner with good credit. In some states, it’s much more though. Source: Florida Realtors
30-year mortgage rate edges down to 4.02%
The 30-year FRM declined marginally since last week – down by .01% – but it still hovers a bit above the 4% mark. Source: Florida Realtors
Legislature OKs bill that oversees condo boards
Fla. lawmakers passed a bill that imposes criminal penalties for some condo board violations, such as election fraud, conflicts of interest and misappropriation. Source: Florida Realtors
Court: Miami can sue big banks for predatory lending
The U.S. Supreme Court said Miami may sue large U.S. lenders over allegations that their Fair Housing Act violations played a role in the housing meltdown. Source: Florida Realtors
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