When you are working on your next home purchase or sale, it’s important to know that you are getting the best from your real estate professional. The infographic below from Florida Realtors (via NAR) will help you with that.
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Avoiding Wire Fraud
Homebuyers are increasingly falling victim to real estate wire fraud, often due to lax cybersecurity and the complexities of the home-buying process. In 2023, real estate wire fraud totaled an estimated $3 billion.
Fraudsters typically exploit weak cybersecurity links in transactions, often targeting real estate agents, loan officers, title companies, or closing attorneys. Once they gain access, they learn who is about to purchase a home and send the buyer fraudulent communications, posing as settlement attorneys or title companies, with fake wire transfer instructions.
While improving our homes can be very rewarding, it doesn’t always pay off monetarily. The infographic from Florida Realtors below shows some examples that can be a challenge to recover financially.
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Happy Labor Day!
I hope you are enjoying your long weekend!
“Start where you are. Use what you have. Do what you can.” — Arthur Ashe
Inventory gains continue to outpace closed sales in Sarasota County. It isn’t yet at a point where buyers will gain the upper hand, but it sure is close. At this point, each transaction will have its own leverage points for buyers and sellers, which is actually a great market to be in. Cash sales as percentage of transactions saw a major drop in July. That will be an interesting statistic to watch in the coming months as a lower number there allows more people to compete for homes in Sarasota County. The infographic below from Florida Realtors contains more information.
