Space Coast Association of REATLORS® Blogs

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View Florida Realtors® Article Here 2022 Market? AP Interviews NAR’s Top Economist By Alex Veiga Increased supply and some chopping of demand due to rising interest rates should make the market less competitive, with price increases returning to normal. LOS ANGELES (AP) – The U.S. housing market had another scorcher of a year in 2021, aided by low mortgage rates, a swell of demand that outstripped supply and a rebounding job market. The supply-demand equation remains sharply lopsided heading into the spring home-buying season, which should give sellers the upper hand again. And while home prices are expected to rise at a less torrid ...
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Thanks to the hard work of the Space Coast EDC this past year, the Space Coast continued to rise in national rankings of economic significance. The Palm Bay–Melbourne–Titusville Metropolitan Statistical Area (MSA) rocketed to the second spot on the Milken Institute’s Best-Performing Cities list and ranked as the 18th best place to live in the Unites States by U.S. News & World Report. The diversification of our industrial base gained momentum with the announcement of groundbreaking new projects highlighted by Terran Orbital’s decision to bring a $300million headquarters and satellite factory – the largest in the world – to the Space Coast. The project is ...
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New Program to Help 93 Homeless Households in the City of Melbourne Post Date: 01/12/2022 10:59 AM On December 14, 2021, the Melbourne City Council approved designating $250,000 in Community Development Block Grant (CDBG) Coronavirus (CV-3) funding to the Melbourne Street to Home Project — a new program that will help approximately 93 City of Melbourne households who are unsheltered or are imminently at risk of becoming homeless.  In addition to the $250,000 in CDBG-CV3 funding, the  Brevard Homeless Coalition  has allocated an additional $400,000 in Emergency Services Grant Coronavirus funding, which will allow the program to assist up to 200 households ...
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The term REALTOR® has one meaning only: member of the National Association of REALTORS®. Coined in 1915, the REALTOR® Marks have conveyed to consumers for over 100 years that members of NAR abide by NAR’s strict Code of Ethics, and are committed to clients, the public and other real estate professionals as well as to conducting business with integrity. NAR’s trademark rules are designed to protect and promote the meaning of the REALTOR® Marks, and by joining NAR, members agree to comply with NAR’s trademark rules. Keep in mind the following when using the REALTOR® Marks. Members are licensed to use the Marks in connection with their personal name and real ...
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Who Can File a Code of Ethics Complaint? By Joey Sale Dear Joey: Code of Ethics’ headings seem directed to specific people – fellow Realtors, members of the public, etc. Does that limit who can file certain types of ethics complaints? Or are the headings just headings? ORLANDO, Fla. –  Dear Joey : In the Code of Ethics, the articles appear under headings – Duties to Clients & Customers, Duties to the Public and Duties to Realtors®. Do these headings bear any weight on who can file a complaint? – Policy Guru Dear Policy Guru : You pose a great question that I’m sure many have asked in the past. In fact, we recently had a related question. ...
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Looking To Improve Your Real Estate Social Media? It Can Be Difficult Finding The Right Content and Captions To Make It To The Top. See How These Hashtags for Your Social Media Posts Can Increase Your Digital Engagement! No matter where you post on social media—whether it be Facebook, Twitter, TikTok or Instagram—a thoughtful hashtag, or set of hashtags, can enhance your post’s reach and the amount of engagement it gets. If you’re serious about taking your social media presence to the next level, you need to study up on the real estate hashtags that will resonate with your current and potential clients. Agents today are becoming more bullish with their social ...
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HUD Allocates $2M for Fla. Veteran Housing By Kerry Smith The money goes to 10 local agencies across the state. Nationwide, HUD is providing $18M to support U.S. vets facing or experiencing homelessness. WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) awarded over $18 million in HUD-Veterans Affairs Supportive Housing (HUD-VASH) vouchers to 103 Public Housing Agencies (PHAs) in 33 states. The funding supports veterans experiencing homelessness. In Florida, 10 local agencies have been allocated over $2 million ($2,021,110) of that money, or about 11% of the total. Florida HUD-VASH recipients West Palm Beach ...
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New Lending Rules Threaten Some Condo Sales By Kerry Smith Fannie and Freddie tighten condo-lending rules. Details vary, but they generally won’t back single-unit condo loans if a building has deferred maintenance issues. ORLANDO, Fla. – In response to the Surfside tragedy, Freddie Mac announced last week that it would immediately start taking a closer look at a condo development’s maintenance issues before approving individual loans. The change follows a similar announcement made earlier by Fannie Mae. The two mortgage giants back over half of all U.S. loans. The new requirements can be complex – Freddie Mac  posted its announcement online ...
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A quick recap of the Brevard County Residential Report for November 2021:   Closed Sales are up +7.3% for November 2021 in which the number of units closed was 991 compared to 924 in November 2020, with an increase in cash sales of 35.7% . New Pending Sales are up +9.1% and New Listings are up +5.8%. The Median Sales Price for Brevard Single Family homes is up +17.6% to $323,333 compared to a year ago, which was $275,000. Months’ Supply of Inventory is down -40.0% to 0.9 months, a decrease from 1.5 months in November 2020. Traditional Sales are up +7.4% with a median sales price of $324,900. Foreclosure/REO Sales are up +28.6% ...
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Florida Realtors Earns RPAC ‘Triple Crown’ By Kerry Smith The rare large-state honor, which recognizes goal achievement in five categories, shows that Fla. members understand the importance of political advocacy. ORLANDO, Fla. – While final dollar figures raised for the National Association of Realtors®’ (NAR) Realtors Political Action Committee (RPAC) won’t be finalized until the end of the year, Florida Realtors® will be honored for winning the “ Triple Crown ,” which reflects attaining all five major goals outlined by NAR. It’s rare for a state as large as Florida to achieve the honor, and it reflects the commitment of Florida Realtors’ ...
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Cape Canaveral, Fla . –   Space Perspective , the world’s leading luxury spaceflight experience company, today announced that it has selected Florida’s Space Coast Spaceport in Titusville, Florida as the location for the company’s worldwide campus and manufacturing complex. Along with the company’s world-class launch operations facilities at the Launch and Landing Facility on NASA Kennedy Space Center, Space Perspective is building a campus on the Space Coast Spaceport site for their capsule and balloon manufacturing facility, laboratories, and operations infrastructure from launch to mission control.  Space Perspective will invest more than $38 million ...
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10 Markets Called ‘Hidden Gems’ for Real Estate in 2022 December 15, 2021 Many of the housing markets to watch in the new year are located in the South, says the National Association of REALTORS®, which released its top picks for the markets that likely will see some of the strongest price appreciation in 2022—the “hidden gems,” as the association says. NAR released its top 10 list during its third annual year-end Real Estate Forecast Summit on Wednesday, where economists weighed in on the trajectory for the 2022 housing market. “The housing sector performed spectacularly in 2021 in many markets, with huge gains achieved ...
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We are sharing two upcoming actions that will affect keyholders with older eKEY ® app versions and 3G-based devices. Effective December 31, 2021 , Supra will be shutting down an earlier generation eKEY server. Because this server supports the oldest versions of the eKEY app, it is important that all keyholders confirm that they have the latest version of the eKEY app. Our systems show that some keyholders still using an old eKEY app are doing so on an older device. Their devices use legacy technology and operating systems and thus are unable to support upgrading to the current eKEY app. As a result, we are letting you know that likely a small percent of ...
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Recent changes that Fannie Mae made which could affect condo lending in the months ahead.   Executive Summary: Fannie Mae issued temporary changes that will require lenders to provide detailed architectural and safety verifications of a buildings safety and will not back properties with significant deferred maintenance Fannie Mae will not allow waivers for a reserve study in lieu of the 10% minimum on new projects Changes go into effect January 1 st , 2022.   On October 13 th , Fannie Mae   announced   temporary changes to its underwriting policies that govern the purchase of mortgages backing condominiums. The changes were in response to ...
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NAR updated MLS rules at its recent convention, and Realtors may discover changes within their MLS on or before the Jan. 1 effective date. One change applies to marketing, however: A buyer’s agent can’t advertise their services as “free.” ORLANDO, Fla. –  Dear Joey : I’ve been reading recent headlines and understand the National Association of Realtors® (NAR) passed six new Multiple Listing Service (MLS) policy changes. What does that mean for me – what will change? And when will these take effect? – Real Estate Professional Dear Real Estate Professional : I’m glad you’re keeping up with NAR’s newly approved MLS policy changes. I’ll provide a brief ...
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Back to the Basics: Resources in Flexmls and Where to Find Them They say knowledge is power, so this month we’re taking you back to the basics to make sure you are equipped with the tools to be a Flexmls pro in the new year!  Below we will be sharing some resources, so that next time you’re stuck wondering how to do something or wanting to learn more about a product enhancement, you’ll know where to check! In-system training, written help, an academy full of training videos, product news - learn how to access it all. Having tons of great resources is only great if you know where to find them! Guided Tours Select a topic you’d like to learn more ...
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Public Policy Update Hello everyone. The Special Session that Gov. Ron DeSantis called regarding vaccine mandates and other COVID-19-related matters concluded on Wednesday of this week, resulting in four bills being sent to his desk and then quickly signed the following day. Those bills are HB 1B – COVID-19 Mandates, CS/HB 3B – Public Records, HB 5B – Florida Occupational Safety and Health State Plan and HB 7B – Vaccinations During Public Health Emergencies. The governor's bill signing announcement summarizes the new laws as follows: Private Employer COVID-19 vaccine mandates are prohibited. Employees can choose from numerous exemptions, ...
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NAR staff recently put together this “NAR By The Numbers” booklet as a great resource full of valuable information. The document uses stats and figures from every NAR team and gives readers a more complete grasp of the impact our members and our association have on American real estate, the nation’s economy, and our world as a whole. #realestate #realtors #nationalassociationofrealtors #spacecoastassociationofrealtors #ThatsWhoWeR Download report here
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First Time Ever: Inflation Soars as Mortgage Rates Plunge By Jeff Lazerson The last time inflation rose as mortgage rates fell? Never. But the world is awash with cash, and that holds down mortgage rates, says Wells Fargo senior economist. NEW YORK – Contradiction? Kerfuffle? Chaos? Freddie Mac’s 30-year fixed plunged 11 basis points to 2.98% last week, even as the nation’s inflation rate jumped to 6.2%. When was the last time this happened? Exactly never. Traditionally, mortgage rates move up with inflation, says Richard Green, director of USC’s Lusk Center for Real Estate. “This has happened at no other time in history,” Green said. “We are living in ...
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It is with heavy hearts we announce the passing of  longtime member and Broker / Owner of Hart Real Estate, Betty Delores Miles Hart.   Family and friends will gather Friday, November 19, 2021 from 1:00 PM- 1:30 PM with a “Celebration of Life” beginning at 1:30 PM at the Life Event Center at Florida Memorial 5950 S US-1 Rockledge, FL 32955.   Betty Delores Miles Hart is survived by Elizebeth Novalsky, daughter; Jason Hart, son; Vickie Hart Broker / Owner of Hart to Hart Real Estate, daughter-in-law; Brittney Novalsky, granddaughter; Thomas Novalsky, grandson; Alicia Novalsky, granddaughter-in-law; Rachel Novalsky, granddaughter; Caden ...
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