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  • Posts
  • 🎯 Trust This: Targeting Section 8 for deletion

🎯 Trust This: Targeting Section 8 for deletion

And the Florida legislature votes to dial back the condo reforms created after the Sunset Towers collapse

Author

Joseph Seagle
May 09, 2025

Trust This. 

By Joseph E. Seagle, Esq.

👋 Happy Friday! Today is National Lost 🧦 Sock Memorial Day for all of us who have a stash of lonely socks in the back of our drawers., just waiting for their mate to return.

❗️Situation Awareness: Valerie Edgecombe has joined MyLandTrustee.com and Aspirelegal.com as our new Managing Attorney for Legal Operations and Services Valerie has over 20 years of experience in managing and growing legal teams and processes. She will oversee the day-to-day operations of lawyers, land trust administrators, paralegals, legal assistants, and support crew as we continue to grow.

1 big thing: 🏛️ Trump Budget Proposal Targets Section 8, Risks Market Ripple

A picture of a house with a sign in front that says "Section 8."

The Trump administration has proposed the elimination of Section 8 housing vouchers and a 40% cut to HUD rental assistance, according to NPR and internal budget drafts obtained by HousingWire. The shift would replace direct federal rental aid with block grants to states, capping support for able-bodied adults at two years and reducing funding for long-term housing solutions.

Why it matters: For real estate investors, brokers, and lenders, the proposal is a tectonic shift in housing policy. Section 8 has long served as a stabilizing force in distressed and low-income housing markets, offering reliable rental income streams backed by the federal government. Its removal introduces uncertainty and volatility.

SecThe big picture:

  • Inventory stress: With demand far outpacing affordable supply, the loss of Section 8 could lead to surges in unpaid rents, vacancy rates, and evictions — especially in markets where low-income tenants dominate Class C portfolios.

  • Shifting liabilities: States would be expected to craft their own housing aid programs, but history shows that such block grants often fall short. For real estate pros, this means navigating a patchwork of local policies with varied tenant protections and eligibility rules.

  • Homelessness surge: Industry analysts warn the rollback could trigger a spike in homelessness, putting pressure on municipal resources — and investor portfolios near urban cores and transitional neighborhoods.

Between the lines: While the administration frames the cuts as necessary to curb misuse of funds, citing past abuses on “skate parks and concert plazas,” housing advocates counter that these programs are already underfunded — with only 1 in 4 eligible households currently receiving aid.

For whom it’s a signal:

  • Buy-and-hold landlords relying on voucher programs should reassess risk exposure and explore diversified leasing models.

  • Developers using Low-Income Housing Tax Credits (LIHTC) may face funding gaps if local subsidies can’t fill federal shoes.

  • Realtors in overheated markets could see listings sit longer as tenant purchasing power plummets.

Yes, but: With bipartisan opposition mounting, including a new bill in Congress aiming to expand Section 8, the proposal faces an uphill battle — but signals the administration’s broader pivot away from federally backed housing support.

📉 The Bottom Line: If the safety net is pulled, real estate pros must brace for demand shocks, policy fragmentation, and shifting ROI calculations.

2. Florida Eases Condo Safety Mandates to Alleviate Financial Strain on Owners

two people with concerned looks on their faces reading documents in front of a condomiinium under renovation behind them.

In a significant move to balance safety with financial feasibility, Florida lawmakers have passed House Bill 913, introducing reforms to the state’s condominium safety laws. These changes aim to provide relief to condo owners facing mounting costs from stringent safety mandates enacted after the 2021 Surfside collapse, which claimed 98 lives.

Why It Matters: The original 2022 legislation required “milestone inspections” and “structural integrity reserve studies” for older, multi-story buildings, leading to substantial assessments for condo owners. Many associations, striving to meet the December 31, 2024, deadline, imposed large fees, causing financial distress among residents, particularly retirees and those on fixed incomes. 

Key Revisions in HB 913

  • Extended Deadlines: The deadline for structural integrity reserve studies has been pushed back by one year, providing associations with additional time to comply.

  • Financial Flexibility: Associations can now utilize lines of credit or loans to fund reserves, subject to majority owner approval.

  • Temporary Reserve Funding Pause: A two-year pause on reserve contributions is permitted following a milestone inspection, allowing associations to prioritize immediate repairs.

  • Clarified Applicability: The law now explicitly applies to buildings with three or more habitable stories, resolving previous ambiguities.

Implications for Real Estate Professionals: For Realtors, mortgage brokers, investors, and title insurance agents, these reforms are poised to stabilize the condominium market. The financial relief measures may prevent a surge in distressed sales and maintain property values. Moreover, the clarified guidelines can streamline transactions and reduce legal uncertainties.

Voices from the Legislature

“Without moving one step backwards on safety, this bill provides options, flexibility, and relief so condo owners and associations cna prioritize the most important repairs first.”  AP

Republican state Sen. Jennifer Bradley of Fleming, a sponsor of the bill.

“We have tried to reach that delicate balance between the safety of our constituents as well as understanding the incredible financial impact that sometimes these particular bills that we passed have.” AP

Representative Vicki Lopez (R-Miami), dubbed the “condo queen,” highlighting the bill’s significance.

Looking Ahead: Governor Ron DeSantis is expected to sign HB 913 into law, marking a pivotal step in addressing the challenges faced by Florida’s condominium communities. Real estate professionals should stay informed about these changes to effectively guide clients through the evolving landscape.

This week, I sat down with Sandra Edmond, the Queen of Tax Deeds®, where we discussed not only tax deeds but also the importance of personal branding.

 Listen in or watch on your favorite streaming platform.

3. Catch up fast

  1. Four charts that show why Florida’s housing market is struggling. HousingWire

  2. Florida’s COVID-Era Housing Boom is Over with biggest price declines in a decade. NY Post

  3. Property tax cuts could upend the Florida housing market. Cotality

  4. The immigration push is making it harder for foreigners to buy U.S. homes, hurting Miami in particular. Bloomberg

  5. Fannie Mae to sell non-performing loan portfolio Dodd-Frank Report

  6. Borrowers sue Vanderbilt Mortgage for alleged violations in private suit after CFPB drops its suit. RESPA News (subscription)

  7. Economic slowdown chills U.S. housing market. MPA Mag

  8. Experts warn that China could inflict serious harm on U.S. housing market by selling off mortgage-backed securities. MPA Mag

  9. Spring’s homebuying season is lackluster so far due to high costs and economic instability. Redfin

  10. The Fed holds its rates steady, noting rising uncertainty and stagflation risks. CNBC

4. Closing Thought: Inspire Vision, Not Just Tasks

The roses in the front yard were bursting out last weekend in Asheville.

Real estate professionals and entrepreneurs often fall into the trap of managing people by to-do lists. But true leadership doesn’t start with checklists—it starts with vision. Antoine de Saint-Exupéry said it best: “If you want to build a ship, don’t drum up the men to gather wood… Instead, teach them to yearn for the vast and endless sea.”

The big idea: Whether you’re syndicating an investment deal, launching a new development, or growing a brokerage, your team isn’t motivated by lumber or logistics. They’re moved by mission. A clear, compelling vision connects their everyday tasks to a bigger purpose.

➡️ Paint the bigger picture. Don’t just say, “We need to close on this multifamily by the 30th.” Say, “We’re creating generational wealth and revitalizing neighborhoods.”

➡️ Link tasks to legacy. Help your partners see how their roles—underwriting, raising capital, showing properties—drive real impact.

➡️ Make it emotional. People don’t hustle for spreadsheets. They show up early and stay late when they believe in the destination.

Zoom out: Think about your first big win in real estate. It wasn’t just the cash flow or the equity—it was the feeling of freedom, control, possibility. That’s the “vast and endless sea” your team needs to see.

The bottom line: Great leaders don’t micromanage the shipyard. They inspire their crew to chase the horizon. When you lead with vision, the wood gets gathered and the ship gets built—because everyone believes in where it’s going.

Fact-based news without bias awaits. Make 1440 your choice today.

Overwhelmed by biased news? Cut through the clutter and get straight facts with your daily 1440 digest. From politics to sports, join millions who start their day informed.

We hope you found this helpful — any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.

  • Was this email forwarded to you? Subscribe here.

  • Have an idea or issue to share? Email us. 

  • Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.

  • Our mailing address: PO Box 547945, Orlando, FL 32854-7945

  • Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804

Be on the lookout for our next issue! 👋

  • Trust This.
  • Posts
  • 🎯 Trust This: Targeting Section 8 for deletion

🎯 Trust This: Targeting Section 8 for deletion

And the Florida legislature votes to dial back the condo reforms created after the Sunset Towers collapse

Author

Joseph Seagle
May 09, 2025

Trust This. 

By Joseph E. Seagle, Esq.

👋 Happy Friday! Today is National Lost 🧦 Sock Memorial Day for all of us who have a stash of lonely socks in the back of our drawers., just waiting for their mate to return.

❗️Situation Awareness: Valerie Edgecombe has joined MyLandTrustee.com and Aspirelegal.com as our new Managing Attorney for Legal Operations and Services Valerie has over 20 years of experience in managing and growing legal teams and processes. She will oversee the day-to-day operations of lawyers, land trust administrators, paralegals, legal assistants, and support crew as we continue to grow.

1 big thing: 🏛️ Trump Budget Proposal Targets Section 8, Risks Market Ripple

A picture of a house with a sign in front that says "Section 8."

The Trump administration has proposed the elimination of Section 8 housing vouchers and a 40% cut to HUD rental assistance, according to NPR and internal budget drafts obtained by HousingWire. The shift would replace direct federal rental aid with block grants to states, capping support for able-bodied adults at two years and reducing funding for long-term housing solutions.

Why it matters: For real estate investors, brokers, and lenders, the proposal is a tectonic shift in housing policy. Section 8 has long served as a stabilizing force in distressed and low-income housing markets, offering reliable rental income streams backed by the federal government. Its removal introduces uncertainty and volatility.

SecThe big picture:

  • Inventory stress: With demand far outpacing affordable supply, the loss of Section 8 could lead to surges in unpaid rents, vacancy rates, and evictions — especially in markets where low-income tenants dominate Class C portfolios.

  • Shifting liabilities: States would be expected to craft their own housing aid programs, but history shows that such block grants often fall short. For real estate pros, this means navigating a patchwork of local policies with varied tenant protections and eligibility rules.

  • Homelessness surge: Industry analysts warn the rollback could trigger a spike in homelessness, putting pressure on municipal resources — and investor portfolios near urban cores and transitional neighborhoods.

Between the lines: While the administration frames the cuts as necessary to curb misuse of funds, citing past abuses on “skate parks and concert plazas,” housing advocates counter that these programs are already underfunded — with only 1 in 4 eligible households currently receiving aid.

For whom it’s a signal:

  • Buy-and-hold landlords relying on voucher programs should reassess risk exposure and explore diversified leasing models.

  • Developers using Low-Income Housing Tax Credits (LIHTC) may face funding gaps if local subsidies can’t fill federal shoes.

  • Realtors in overheated markets could see listings sit longer as tenant purchasing power plummets.

Yes, but: With bipartisan opposition mounting, including a new bill in Congress aiming to expand Section 8, the proposal faces an uphill battle — but signals the administration’s broader pivot away from federally backed housing support.

📉 The Bottom Line: If the safety net is pulled, real estate pros must brace for demand shocks, policy fragmentation, and shifting ROI calculations.

2. Florida Eases Condo Safety Mandates to Alleviate Financial Strain on Owners

two people with concerned looks on their faces reading documents in front of a condomiinium under renovation behind them.

In a significant move to balance safety with financial feasibility, Florida lawmakers have passed House Bill 913, introducing reforms to the state’s condominium safety laws. These changes aim to provide relief to condo owners facing mounting costs from stringent safety mandates enacted after the 2021 Surfside collapse, which claimed 98 lives.

Why It Matters: The original 2022 legislation required “milestone inspections” and “structural integrity reserve studies” for older, multi-story buildings, leading to substantial assessments for condo owners. Many associations, striving to meet the December 31, 2024, deadline, imposed large fees, causing financial distress among residents, particularly retirees and those on fixed incomes. 

Key Revisions in HB 913

  • Extended Deadlines: The deadline for structural integrity reserve studies has been pushed back by one year, providing associations with additional time to comply.

  • Financial Flexibility: Associations can now utilize lines of credit or loans to fund reserves, subject to majority owner approval.

  • Temporary Reserve Funding Pause: A two-year pause on reserve contributions is permitted following a milestone inspection, allowing associations to prioritize immediate repairs.

  • Clarified Applicability: The law now explicitly applies to buildings with three or more habitable stories, resolving previous ambiguities.

Implications for Real Estate Professionals: For Realtors, mortgage brokers, investors, and title insurance agents, these reforms are poised to stabilize the condominium market. The financial relief measures may prevent a surge in distressed sales and maintain property values. Moreover, the clarified guidelines can streamline transactions and reduce legal uncertainties.

Voices from the Legislature

“Without moving one step backwards on safety, this bill provides options, flexibility, and relief so condo owners and associations cna prioritize the most important repairs first.”  AP

Republican state Sen. Jennifer Bradley of Fleming, a sponsor of the bill.

“We have tried to reach that delicate balance between the safety of our constituents as well as understanding the incredible financial impact that sometimes these particular bills that we passed have.” AP

Representative Vicki Lopez (R-Miami), dubbed the “condo queen,” highlighting the bill’s significance.

Looking Ahead: Governor Ron DeSantis is expected to sign HB 913 into law, marking a pivotal step in addressing the challenges faced by Florida’s condominium communities. Real estate professionals should stay informed about these changes to effectively guide clients through the evolving landscape.

This week, I sat down with Sandra Edmond, the Queen of Tax Deeds®, where we discussed not only tax deeds but also the importance of personal branding.

 Listen in or watch on your favorite streaming platform.

3. Catch up fast

  1. Four charts that show why Florida’s housing market is struggling. HousingWire

  2. Florida’s COVID-Era Housing Boom is Over with biggest price declines in a decade. NY Post

  3. Property tax cuts could upend the Florida housing market. Cotality

  4. The immigration push is making it harder for foreigners to buy U.S. homes, hurting Miami in particular. Bloomberg

  5. Fannie Mae to sell non-performing loan portfolio Dodd-Frank Report

  6. Borrowers sue Vanderbilt Mortgage for alleged violations in private suit after CFPB drops its suit. RESPA News (subscription)

  7. Economic slowdown chills U.S. housing market. MPA Mag

  8. Experts warn that China could inflict serious harm on U.S. housing market by selling off mortgage-backed securities. MPA Mag

  9. Spring’s homebuying season is lackluster so far due to high costs and economic instability. Redfin

  10. The Fed holds its rates steady, noting rising uncertainty and stagflation risks. CNBC

4. Closing Thought: Inspire Vision, Not Just Tasks

The roses in the front yard were bursting out last weekend in Asheville.

Real estate professionals and entrepreneurs often fall into the trap of managing people by to-do lists. But true leadership doesn’t start with checklists—it starts with vision. Antoine de Saint-Exupéry said it best: “If you want to build a ship, don’t drum up the men to gather wood… Instead, teach them to yearn for the vast and endless sea.”

The big idea: Whether you’re syndicating an investment deal, launching a new development, or growing a brokerage, your team isn’t motivated by lumber or logistics. They’re moved by mission. A clear, compelling vision connects their everyday tasks to a bigger purpose.

➡️ Paint the bigger picture. Don’t just say, “We need to close on this multifamily by the 30th.” Say, “We’re creating generational wealth and revitalizing neighborhoods.”

➡️ Link tasks to legacy. Help your partners see how their roles—underwriting, raising capital, showing properties—drive real impact.

➡️ Make it emotional. People don’t hustle for spreadsheets. They show up early and stay late when they believe in the destination.

Zoom out: Think about your first big win in real estate. It wasn’t just the cash flow or the equity—it was the feeling of freedom, control, possibility. That’s the “vast and endless sea” your team needs to see.

The bottom line: Great leaders don’t micromanage the shipyard. They inspire their crew to chase the horizon. When you lead with vision, the wood gets gathered and the ship gets built—because everyone believes in where it’s going.

Fact-based news without bias awaits. Make 1440 your choice today.

Overwhelmed by biased news? Cut through the clutter and get straight facts with your daily 1440 digest. From politics to sports, join millions who start their day informed.

We hope you found this helpful — any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.

  • Was this email forwarded to you? Subscribe here.

  • Have an idea or issue to share? Email us. 

  • Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.

  • Our mailing address: PO Box 547945, Orlando, FL 32854-7945

  • Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804

Be on the lookout for our next issue! 👋

1 big thing: NAR's Legal Labyrinth

The Department of Justice (DOJ) has re-opened its antitrust probe into the National Association of Realtors (NAR). This comes on the heels of NAR’s $418 settlement agreement in several antitrust lawsuits alleging a conspiracy in how buyer and seller agents’ fees are disclosed and paid.

At issue for the DOJ: Whether NAR’s rules for agent commissions violate antitrust laws and trigger inflated home prices.

Why it matters: Uncoupling buyer’s and seller’s agent commissions could lower the cost of selling — and therefore buying — homes by a lot. Such an outcome would also affect how agents are paid for their work.

  • The DOJ wants to make it illegal for a buyer’s and seller’s broker to discuss commission splitting at all.

  • Under the proposed NAR settlement, while they wouldn’t be allowed to disclose the commission splits up front on the MLS, they could still put them on their websites and business cards and at least tell each other what they would pay in a commission split.

DOJ concern over NAR practices has trod a long and winding road in the last two decades.

  • 2005: DOJ sues NAR, claiming anticompetitive practices

  • 2008-2018: NAR agrees to change some of its listings practices

  • 2019-2020: DOJ re-opens the investigation but soon settles, requiring only that NAR disclose more information about broker fees in sales listings

  • 2021-2024: DOJ re-reopens the investigation, requesting more information about broker commissions and real estate listing practices; NAR wins a federal court ruling to shut it down; DOJ appeals

  • April 5, 2024: The US Court of Appeals in DC overturns the lower court’s decision.

The result: The DOJ should soon receive previously undisclosed NAR documents, which could provoke further legal action or even new regulations.

DOJ’s international perspective: One factor that seems to have piqued DOJ’s interest in NAR is the fact that real estate commissions in the U.S. are higher than in other countries.

What’s next: The DOJ hopes its renewed investigative efforts will reduce the expenses associated with real estate transactions for homeowners and buyers.

Tough times for NAR: In addition to the March settlement and the re-opening of the DOJ inquiry, the powerful group has had a spate of recent harassment allegations and resignations to deal with.

  • Its reputation is fraying (to say the least), and the organization is on the ropes.

  • The fact that NAR failed to run the commission settlement by the DOJ first to ensure it would also satisfy the Department indicates that the Association is playing checkers in a Mahjong tournament.

The bottom line: The entire real estate industry needs to be poised to manage a potential paradigm shift. Whether NAR will lead in this brave new world remains to be seen.

2. Commercial Real Estate in Decline Is Bad News for Cities

Florida Land Trusts

Commercial property values are undergoing a sharp decline nationwide. For many cities, that’s forcing stressful cutbacks.

What’s happening: In cities like San Francisco and Chicago, commercial properties are sold for a fraction of their original purchase price.

  • This is because of lower property valuations, which, in turn, can lead to diminished tax collections and strained municipal budgets.

Why this matters: Reduced commercial tax revenue means cities can no longer afford to cover essential services (think transportation, education, healthcare) and infrastructure maintenance.

The “doom loop”: There are no easy answers here.

  • With property values and tax revenue falling, cities may need to increase taxes.

  • With increased taxes, more businesses and residents could decide to relocate — or fewer decide to move in.

  • With fewer resources, cities face tough choices about which essential services to continue offering.

  • More people will consider leaving when a city no longer offers nice parks, high-quality healthcare, or transportation.

The disinvestment trend: Federal aid and fiscal cushions municipalities have relied on in recent years are less available.

  • Some cities are trying to be proactive by postponing maintenance and public projects, but that’s just kicking the can down the road.

The long-term implications: Many cities could opt for significant urban restructuring to move forward. For their part, developers are rethinking their approach:

  • They’re considering new uses for vacant spaces and finding ways to boost value, converting under-used office buildings to residential or mixed-used units, for example.

  • They prioritize green building standards, which could attract new investors and tenants.

  • They’re thinking past commercial properties to alternative sectors like industrial real estate.

The bottom line: If commercial property values continue to sink, cities will face increasingly difficult choices. They’ll need creative solutions to thwart the downward spiral.

Trust This Podcast

This week, I sat down with CPA Asad Ahmad to discuss tax tactics and strategies for real estate professionals to save money. Be sure to catch it to hear Asad’s great advice.

Listen in or watch on your favorite channel.

3. Catch up fast

Florida Land Trusts

  1. The American Land Title Association, representing hundreds of thousands of title insurance agencies and insurers, has sent a letter to FinCEN recommending changes to FinCEN’s proposed rule to require all entities and trusts to disclose their ultimate beneficial owners when they purchase U.S. real estate. ALTA

  2. Three strategies to mitigate risks in real estate investing. MPAMag

  3. FinCEN renewed the Geographic Targeting Order. If an LLC, corporation, partnership or other legal entity (not a trust) uses cash to purchase a residential property for $300,000.00 or more in Miami-Dade, Broward, Palm Beach, Hillsborough, Pasco, Pinellas, Manatee, Sarasota, Charlotte, Lee, or Collier Counties, then the closing agent is required to discover and disclose the names of the beneficial owners of the buyer to FinCEN. FinCEN

  4. Inflation is coming down in every sector except housing, and rents are the driving factor as those in the northeast and midwest refuse to come down. Bloomberg (gift link good for 7 days only)

  5. Seven reasons why the housing market hasn’t recovered from the pandemic. Bigger Pockets

4. Closing Thought

Florida Land Trusts
I've lost count of how many times this white orchid has bloomed since I shoved it into a ligustrum bush on the back patio. Photo: Joe Seagle

Rocks aren’t obstacles in the river of life. They’re rugged materials used to build a life.

Why it matters: Visualizing rocks in this way helps us get through the days and build our year.

In the Entrepreneurial Operating System’s lexicon, “rocks” are what most businesses would call “projects” or “quarterly goals.”

  • At each weekly, quarterly, and annual meeting, we come together as company leaders to identify, discuss, and solve issues.

  • Issues aren’t always bad. They’re just issues we’re facing that, if solved, would help the company achieve its mission and the owner’s vision.

  • The solution to many issues requires uncovering a rock or two that must be chipped away weekly over the next quarter.

I like to think that it also comes from the old story about the professor lecturing his students with a big jar of rocks, pebbles, sand, and water.

  • The rocks are the big things that matter in your business.

  • If you spend too much time on the sand and pebbles, you won’t have time for the rocks.

  • So we keep our rocks front and center before us, discussing them weekly at our meetings and holding each other accountable to ensure the person in charge of each rock will chip away at the stone until it’s completed.

When building a business, remember that the foundation must be durable. Rocks are a strong part of that foundation.

We hope you found this helpful — any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.

  • Was this email forwarded to you? Subscribe here.

  • Have an idea or issue to share? Email us. 

  • Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.

  • Our mailing address: PO Box 547945, Orlando, FL 32854-7945

  • Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804

Be on the lookout for our next issue! 👋

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