Heritage Title & Escrow, LLC

11/28/2022

https://money.yahoo.com/analyst-demand-for-housing-is-still-very-strong-164256870.html

New single-family home sales rose unexpectedly in October.

10/30/2022

Bill Lewis owns the strip of land between new homes near Pace and the road. He claims D.R. Horton built through his land without permission.

10/27/2022

https://www.floridatoday.com/story/news/2022/10/26/crystal-lagoon-what-we-know-melbourne-lakoona-beach-at-melbourne-orlando-international-airport/10590821002/?fbclid=IwAR1UwRkp5G2CwVs7j2naS2WxArY8LySEjOTG12_gjS7-Ah0f_5rQHcbJjAg

The Melbourne Airport Authority has authorized the sale of 56 wooded acres off NASA Boulevard for development as a Crystal Lagoon-anchored complex.

10/20/2022

A quick recap of the Brevard County Residential Report for September 2022:

• Closed Sales are down -13.0% for September 2022 in which the number of units closed was 879 compared to 1,010 in September 2021, with a decrease in cash sales of -16.1%.
• New Pending Sales are down -30.0% and New Listings are down -14.9%.
• The Median Sales Price for Brevard Single Family homes is up 13.6% to $362,540 compared to a year ago, which was $319,000.
• Months' Supply of Inventory is up 81.8% to 2.0 months, from 1.1 months in September 2021.
• Traditional Sales are down -12.7% with a median sales price of $362,688.
• Foreclosure/REO Sales are down -66.7% with 2 closed sales and a median sales price of $428,550.
• Short Sale Closings are N/A with 1 closed sales and a median sales price of $230,000.

10/18/2022

https://www.firstexchange.com/exchangingpropertiesheldintrust

If you own property in a trust and are considering a 1031 exchange to defer your taxable gain, take a look at this brief article for some informative take aways.

To accomplish a successful tax-deferred exchange, the taxpayer that transfers the relinquished property must also acquire the replacement property. On the surface this “same taxpayer” requirement seems straightforward, but care must be taken when title to an asset is held in a trust.

09/22/2022

A quick recap of the Brevard County Residential Report for August 2022:

• Closed Sales are down -8.9% for August 2022 in which the number of units closed was 1,008 compared to 1,107 in August 2021, with a decrease in cash sales of -15.1%.
• New Pending Sales are down -6.9% and New Listings are up 6.5%.
• The Median Sales Price for Brevard Single Family homes is up 16.3% to $377,835 compared to a year ago, which was $325,000.
• Months' Supply of Inventory is up 81.8% to 2.0 months, from 1.1 months in August 2021.
• Traditional Sales are down -8.4% with a median sales price of $378,385.
• Foreclosure/REO Sales are down -55.6% with 4 closed sales and a median sales price of $195,000.
• Short Sale Closings are down -100.0% with 0 closed sales and a median sales price of N/A.

09/08/2022

https://nationalmortgageprofessional.com/news/homes-now-selling-below-100-asking-price

The average home sold for less than 100% of the asking price for the first time in 17 months in August. That comes as the market cooldown continued, according to a Redfin report. According to the technology-powered real estate brokerage, the average home sold for more than the final asking price, af...

08/18/2022

https://nationalmortgageprofessional.com/news/mortgage-applications-lowest-level-22-years

Mortgage applications fell last week to their lowest level in 22 years, as demand for buying homes continues to decline, the Mortgage Bankers Association said today. According to the MBA’s Weekly Mortgage Applications Survey for the week ending Aug. 12, 2022, the Market Composite Index — a measu...

08/18/2022

https://www.realclearpolicy.com/articles/2022/08/18/congress_should_modernize_notarization_for_homebuyers_and_other_americans_848618.html

The past two years have dramatically altered our perception of the role of technology in our lives. As the demand for social distancing increased, so did our dependence on technology to connect us wit

08/18/2022

A quick recap of the Brevard County Residential Report for July 2022:

• Closed Sales are down -16.5% for July 2022 in which the number of units closed was 890 compared to 1,066 in July 2021, with a decrease in cash sales of -6.6%.
• New Pending Sales are down -12.2% and New Listings are up 6.1%.
• The Median Sales Price for Brevard Single Family homes is up 13.1% to $369,900 compared to a year ago, which was $327,032.
• Months' Supply of Inventory is up 72.7% to 1.9 months, from 1.1 months in July 2021.
• Traditional Sales are down -15.8% with a median sales price of $369,950.
• Foreclosure/REO Sales are down -83.3% with 2 closed sales and a median sales price of $139,000.
• Short Sale Closings are N/A with 1 closed sale and a median sales price of $148,800.

08/15/2022

https://www.bloomberg.com/news/articles/2022-08-14/wells-fargo-to-cut-back-mortgage-business-after-scandals-take-toll

Scandals spur a debate among new leaders at bank that once set records