Real Estate Blog - Blog Archive: April, 2014

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April 2014

Found 2 blog entries for April 2014.

The U.S. Senate passed the Homeowner Flood Insurance Affordability Act last month and President Obama signed it into law on Friday, March 21st. The bill caps flood insurance premium increases and allows taxpayer-subsidized, below-market insurance rates to be passed on to homeowners in flood zones.

The legislation offers its greatest relief to owners of properties that were built to code but were subsequently found to be at a greater risk of flooding.

Another provision allows sellers of homes built before flood insurance risk maps were drafted to pass subsidized policies on to the people buying their homes.

For more details, Read the full article here

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There have been a number of factors that have contributed to the decline in home sales lately. Low inventory, severe winter weather, and rising prices caused home sales to fall to their lowest monthly level in February since July 2012.

Closed sales declined 0.4 percent in February according to the National Association of Realtors. That was the sixth decline in the past seven months. The severe weather most likely kept buyers from attending open houses, and rising prices kept sales lower than usual.

There are signs the market could be changing. More people have decided to sell their homes, and sales have picked up in the South and West. Also, despite sluggish sales, home prices are continuing to rise. Just in the past year, median home prices have

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