Real Estate News 02/26/2025

Today’s News Synopsis:

In The News:

FOX Business – “First-ever AI real estate agent generates $100M in sales in Portugal“ (02-25-25)

“Real estate brokerage firm Porta da Frente Christie’s has implemented eSelf’s technology and has seen $100M in sales based on leads the AI agent has generated“

NAHB – “FHA Issues Temporary Waiver for New Single-Family Flood Elevation Requirements” (02-23-2025)

“The Federal Housing Administration (FHA) has announced a temporary waiver for new construction in Special Flood Hazard Areas as part of the Federal Flood Risk Management Standard requirements issued by the Department of Housing and Urban Development for single-family construction that took effect on Jan. 1, 2025..”

CNN Business –  “People are buying up burned lots in LA. Should they be concerned about future fires?“(02-24-25)

“This month, a burned lot in affluent Pacific Palisades sold for nearly $1.2 million — hundreds of thousands over its asking price — despite the land remaining uninhabitable. In the days following that sale, more burned properties have changed hands in the Palisades and Altadena — neighborhoods on different sides of a city devastated in January by wildfires.”

CNBC – “Mortgage rates drop to lowest since mid-December, but demand still falls short” (02-26-25)

“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.88% from 6.93%.”

CBS News – “How much will a $25,000 HELOC cost per month in 2025?” (02-24-25)

“Many homeowners could benefit by withdrawing a portion of their home equity via a HELOC right now.”