Homekeys

10/21/2023

FREC to Meet Next Week on Foreign Buyer Affidavit.... more to come

The Florida Real Estate Commission (FREC) announced a date for the next workshop on creating an affidavit related to SB 264, a bill passed by the 2023 Florida Legislature covering specific foreign buyers of some Florida property, Rule No.: 61J2-10.200, Oct. 24 at 1 p.m. FREC held the first workshop on Sept. 12.

The bill impacts buyers associated with a foreign country of concern – China, Russia, Iran, North Korea, Cuba, Venezuela and Syria, and sellers who knowingly sell property to these buyers. The notice published by the Florida Real Estate Commission (FREC) specifies that FREC must propose a new rule that will implement a form for a buyer’s affidavit.

In addition to the foreign-buyer affidavit discussion, FREC announced plans to cover a different topic during the same workshop: Rule: 61J2-10.032, which covers situations where a broker holds escrow.

FREC has not released details, but paragraph (c) of 61J2-10.032 will likely be discussed. It outlines steps a broker holding an escrow deposit can take in the event of a cancelled contract and one party to the contract is unresponsive.

12/23/2022

Speechless!
One more reason to enjoy Florida !

12/21/2022

Ready to serve your real estate needs in 2023 and betond !

Homekeys Realty has been serving the South Florida housing market since 2004.

At Homekeys®, we believe:
Each buyer and seller is unique and our goal is to provide real options and the best savings opportunities available. It’s not productive to spend time discrediting brokerage models that are different than ours. All real estate models (traditional, discount, by owner) have their own benefits and limitations.
The question is not which model is best, but which is best for your individual needs. You should have the option to choose the best way to buy or sell real estate. After all, it’s your money and no one knows better than you how to spend it.
We deliver full service from top-flight professionals and the tools, knowledge and resources you need to buy, sell and rent. We spoke with hundreds of residential real estate buyers, sellers and investors like you to hear their ideas, thoughts and concerns. Our response to what we’ve learned is our company – Homekeys®.
As always, we want to hear from you. Send us a note.
Remember, your success is our success. We look forward to the opportunity to serve you.
Most Sincerely, Homekeys® Management Team
Homexperts Inc. d/b/a Homekeys® is a real estate broker in the State of Florida licensed (License CQ1019055) by the Florida Real Estate Commission, through the Department of Business and Professional Regulation, Division of Real Estate. Homexperts Inc. d/b/a Homekeys® is an Equal Housing Opportunity Corporation and abides by the Code & Ethics of the National Association of REALTORS®

01/25/2022

Knowledge is Power!

https://www.homelight.com/blog/buyer-seller-did-not-complete-repairs-before-closing/

Buying or Selling ?
Contact us at support .com

Nothing will rain on your parade as hard as the house not actually being ready on closing day because the seller did not complete repairs before closing.

01/16/2022

Knowlwdge is Power!
It does not matter if you are a buyer or a seller. You need to fully understand the difference between assessed value and fair market value .
Homelight’s arricle that follows will do that for you.
Buying or selling?
Visit us at www.homekeys.com


Your Home’s Fair Market Value Doesn’t Jive With Its Assessed Value — Here’s Why
12 Final Walkthrough Tips and Tricks
If you think fair market value is the same as assessed value, think again. We break down how these valuations differ with insight from industry experts.
Continue Reading

HomeLight, Inc.
100 California St, Ste 800, San Francisco, CA 94111

Image Source: (Surface / Unsplash)
Unsubscribe

Links contained in this email have been replaced. If you click on a link in the email above, the link will be analyzed for known threats. If a known threat is found, you will not be able to proceed to the destination. If suspicious content is detected, you will see a warning.

10/13/2021

NEWS YOU CAN USE…..
Soaring Home Prices Roiling Appraisals, Upending Sales

In Aug., 13% of appraisals came in below a home’s contract price. It was higher in May (19.7%), but is still up compared to sales early last year (7.3% in Jan. 2020).
NEW YORK – An abnormally high number of homes across the United States are being appraised below their agreed-upon sales prices, causing some deals to implode.

With home prices soaring in recent months, buyers often pay above asking price to win bidding wars. As a result, CoreLogic estimated that about 13% of appraisals came in below the contract price in August. That’s better than in May (19.7%), but still notably higher than pre-pandemic appraisals. In January 2020, it was 7.3%.

The disparity underscores the risks buyers face in the current market, especially those stretching their dollars to win a bidding war. Mortgage lenders will typically offer only enough to cover the appraised value of a home, forcing buyers to either provide the balance, renegotiate or terminate the deal if an appraisal comes in below the contract price.

Many buyers prepare for the possibility of a lower appraisal by making down payments of just 5% to 10% and holding their extra cash in case they need it to make up any difference should the appraisal fall below the sales price, says Phoenix-area Realtor Nicole Dudley.

To create a home appraisal, appraisers normally rely on factors like data from recent closed and pending sales. But since sales usually close a month or two after going under contract, some buyers say rapidly increasing home values can sometimes skew appraisals that rely on home values recorded months earlier.

In a separate poll by the National Association of Realtors, 12% of contracts closed or terminated in August were hit with appraisal issues, compared to 9% in August 2019, before the pandemic-fueled housing surge.

In recent months, many buyers voided their right to terminate a contract due to a low appraisal in an effort to make their offers compete. However, this practice appears to be waning somewhat as the market cools.

Source: Wall Street Journal (10/10/21) Friedman, Nicole

© Copyright 2021 INFORMATION INC., Bethesda, MD (301) 215-4688

www. homekeys.com
support .com

Homekeys® offers a wide range of options and tools to market and sell your home. Find undervalued Florida Real Estate for free with Homekeys®.

10/04/2021

Funny but true ! Rental prices have skyrocketed!

09/26/2021

09/26/2021

The housing market has slowed down . Wht is behind it ? Buyer’s fatigue?
See what [email protected] has to say in her recent article

Homebuyer Fatigue Hits the Housing Market as Prices Continue Soaring

08/28/2021

Knowledge is Power
Is this the time to sell ? Is it to buy ? The atached article sheds some light into this most important decision .
Homekeys has been serving the South Florida market since 2003 and is ready to assist you in your buying or selling needs .
We are reachable at
support .com or you can visit our site www.homekeys.com
https://consumer.realtor.com/pub/cc?_ri_=X0Gzc2X%3DAQpglLjHJlTQGm2bk9MazaMcc5zf7CzfvHze5iJICgtiza85Yzfw5SfOCWCjzgzf8WtnzaFEJ0RVXtpKX%3DWSUTUART&_ei_=Eq2tf9zs59idfPO1Sc_9Bbm_A0TZinrJnN4lE6LFzhp5nQTmycrX59LKMvqVm-tmbRo2ezk45z_oXOLGXhn7IBL7bQctzsPRCHKgM1gNnISAfZ2VDLO1rwmaqKumjEbs38QfBlyJQWoHrjpz28Yb8CjeRaY01mA6sP6r8x1OSnkOOm4SVHLCmmU1rK3okKbGg2bZEWHPJ8_u51KJyKdXE7lRxzIf9To.&_di_=sqoouskv5g0i9q9qhqelvh3eju8nom0utujas4ms7p2u1gag08ogel

Homekeys® offers a wide range of options and tools to market and sell your home. Find undervalued Florida Real Estate for free with Homekeys®.

08/13/2021

News you can use ….. Knowlege is Power.

https://www.floridarealtors.org/news-media/news-articles/2021/08/lenders-can-now-consider-rent-history-fannie-mae-loans

Buy or selling ?
Contact us at [email protected]

Renters with thin credit histories may still qualify for a home loan under a Fannie Mae program that allows lenders to consider consistent, on-time rental payments when making lending decisions. Neither buyers nor lenders pay extra to use the new tool.