Homeowners win! A six-plus-year effort to pass property insurance Assignment of Benefits (AOB) reform legislation came to a close on Wednesday after the Florida Senate passed HB 7065 on a 25-14 vote. The measure still needs Gov. Ron DeSantis’ signature to become law, but he issued a statement saying he plans to sign it. Once signed, the law becomes effective on July 1, 2019. “Florida Realtors …

Florida lawmakers put some teeth in the state’s texting while driving ban Monday, finalizing legislation that allows law enforcement to pull over drivers solely for texting. The bill now goes to Gov. Ron DeSantis, who has voiced support for the proposal. It would make texting while driving a primary offense instead of a secondary offense and requires drivers to go totally hands free when …

 Pending home sales rose in March, reversing course from a month prior, according to the National Association of Realtors® (NAR). Three of the four major U.S. regions saw growth last month, with the Northeast reporting a minor slip in contract activity. The Pending Home Sales Index (PHSI) – a forward-looking indicator based on contract signings – increased 3.8 percent to 105.8 in March, up from …

 Consumer sentiment in Florida reached its highest level in 17 years, increasing 1.4 points in April to 102 from a revised figure of 100.6 in March. These levels of confidence have not been observed since March 2002 when consumer sentiment reached 102 points. Among the five components that compose the index, one decreased and four increased. Current conditionsFloridians’ opinions about current economic conditions were …

 The Trump administration is proposing a new rule to try to block some 32,000 illegal immigrant-led families from claiming public housing assistance, saying it’s unfair to hundreds of thousands of Americans who are stuck on waiting lists. Housing and Urban Development (HUD) notified Congress Wednesday of the new rule, kicking off a schedule of publication and notice and comment that could have the plan …

Detroit-based Quicken Loans is enjoying strong profits and holds the title as the nation’s No. 1 direct-to-consumer mortgage lender. It is one of the city’s largest employers and the biggest revenue-generator in the business empire of Dan Gilbert, the central figure in downtown Detroit’s recent and dramatic turnaround. Yet in the eyes of the Wall Street credit rating agencies, Quicken Loans is still viewed …

 A proposal moving through the Legislature would eliminate an inexpensive statewide condo mediation program in favor of dramatically more costly private mediation and court jurisdiction to settle disputes between residents and their condo boards. The amendment drafted by the Real Property Section of the Florida Bar and introduced by the bill’s sponsor, Sen. Joe Gruters, R-Sarasota, will be heard before the Senate Innovation, Industry …

 Nearly 60 percent of all spring home shoppers are considering a home that needs renovating, as rising home prices and limited entry-level inventory continue to be a hurdle, according to realtor.com’s spring home buyer survey. Just over half of those considering a TLC home are willing to spend more than $20,000 on the renovation, and the vast majority of them – 95 percent – …

 The U.S. Department of Housing and Urban Development (HUD) issued a Request for Information (RFI) that seeks public input on how it can use its existing authorities to maximize the beneficial impact of Opportunity Zones for residents and their communities. The RFI gives the public a chance to provide recommendations regarding the use of public and private investments in economically distressed communities, including qualified Opportunity Zones. Responses to …

 A recent survey by MKM Partners Quantitative Survey Group, commissioned by Del Webb, found that that a majority of younger baby boomers and older Generation X-ers aren’t planning to downsize with their next move. Of the 57 percent of survey respondents who plan to move in the future, 65 percent prefer their next home to be either the same size (43 percent) or larger …