Housing Wire

AUGUST 24, 2023

However, persistently high mortgage rates pose a significant affordability challenge to buyers and sellers (not to mention the workers of a trillion dollar-plus industry). In July, 26% of existing homes sold to cash buyers while 7% of new homes sold to cash buyers. said Sturtevant.

Mortgage 364

Mortgage Property Taxes Investors Buyers 364

Housing Wire

FEBRUARY 16, 2023

There is one simple reason for this: it’s not 2008. However, the glaring difference today versus the recession of 2008, is that in 2007 the builders had to deal with over 4 million active listings as competition for their pricey new homes. Buyers have fewer choices than normal in the past eight years — but in reality, since 1982.

Construction 470

Construction Housing Market Inventory Mortgage 470

Housing Wire

DECEMBER 7, 2020

For now, though, the low inventory means housing starts have legs to move higher. Existing home inventory is also at all-time lows. Existing home inventory is also at all-time lows. Unsold inventory sits at an all-time-low 2.5-month Keep this rule of thumb in mind for the future, below 4.3 Existing Home Supply.

Inventory 543

Inventory Construction Government Housing Market 543

Cleveland Appraisal Blog

MAY 18, 2023

The agent went on to mention that many people she knows would like to sell their home but are afraid of not finding another one because inventory levels are so low. And I found sales that supported the contract price that had sold within the past month. We’ve had under two months of inventory for the past couple of months.

Inventory 333

Inventory Real Estate Agent Appraisal Real Estate 333

Housing Wire

MARCH 17, 2022

In fact, considering the drop in builders’ confidence, now we have to watch for whether some people will cancel their building contracts because rates have jumped so much while they’ve been waiting for their new home to be built. Authorizations of units in buildings with five units or more were at a rate of 597,000 in February.

Construction 440

Construction Housing Market Inventory Buyers 440

Lamacchia Realty

JANUARY 25, 2024

This scarcity in inventory exerted upward pressure on prices, although it coincided with a 19% decline in sales. Despite this decline, motivated buyers were out there trying to secure a home while also trying to navigate lower affordability and low inventory. Average prices for closed sales increased by 7.2% Sales Decline by 18.9%

Inventory 52

Inventory Sellers Buyers Contracts 52

Lamacchia Realty

JANUARY 25, 2024

It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. A year later, still no crash, which had more to do with the decrease in inventory than the decrease in sales. The number of homes placed under contract (pending), decreased by 17.7% Sales Decline by 21.7%

Inventory 69

Inventory Sellers Contracts Buyers 69

Housing Wire

DECEMBER 20, 2022

If you look back, the macroeconomic stuff is tied back to the fact that when COVID initially hit it slowed things down even further and this is after we were already trying to catch up from the significant downturn in 2008, so there is so much more demand than there is supply today.

Supply Chain 355

Supply Chain Construction Inventory Finance 355

Housing Wire

AUGUST 28, 2020

The products I’ve put into this category primarily help in converting leads, prospects and opportunities into contracts. Specifically, I’m talking about listing agreements and sales contracts. The first is listing tools – the products designed for you to convert potential sellers into listing contracts. Listing tools.

Tools 237

Tools Sellers Real Estate Contracts 237

Lamacchia Realty

JANUARY 30, 2024

The 2023 South Florida real estate market, like national trends, saw a decrease in sales, an increase in prices, and a decrease in the number of homes listed and placed under contract. Unlike what the Northeast experienced, South Florida inventory is up over 2022 and the second half of 2021. South Florida Sales Decline by 17.5%

HOA 49

HOA Inventory Buyers Contracts 49

Lamacchia Realty

JUNE 10, 2022

Despite all of it competition is still strong, and buyers are still out there, but with average prices increasing also at historic rates since 2020 and with the cost increase of borrowing, a shift in the market is happening. Congratulations, frustrated home buyers ! That’s not going to happen.

Marketing 62

Marketing Sellers Buyers Inventory 62

Lamacchia Realty

JULY 26, 2023

Highlighted in this report are the average sale prices for single-family, condominiums, and multi-family homes in Massachusetts along with the number of homes listed for sale, placed under contract, and price adjustments. To learn more about inventory, click on the chart on the right. Number of Homes Sold Decreased by 24.8%

Sellers 57

Sellers Inventory Buyers Contracts 57

Lamacchia Realty

APRIL 15, 2022

Rates dropped to historic lows to keep buyers buying, prompting an influx of new applications and re-finances as obtaining a mortgage was more affordable than ever. Sellers kept listing, albeit, at a much slower pace, and buyers were buying at the highest rate in over 15 years, absorbing inventory faster than ever.

Marketing 66

Marketing Sellers Buyers Inventory 66

Cleveland Appraisal Blog

MARCH 18, 2021

With a shortage of inventory, it was not hard to imagine why this might be the case. Perhaps the sellers had a pool of buyers looking for homes to buy in this area. Therefore, my opinion of value was in the mid-sixties, which was far below the contract price. The buyer would immediately be upside down on their mortgage.

Appraisal 195

Appraisal Investors Buyers Market Value 195

Birmingham Appraisal

JULY 7, 2022

These factors, as well as others, have an impact on home values because it affects buyer and seller behavior. If a buyer paid ‘X’ amount for a property similar to the one being appraised then other buyers will probably pay a similar price for the subject property.

Appraisal 66

Appraisal Marketing Contracts Buyers 66

Will Springer Realtor

MAY 9, 2023

Falling new inventory is constraining transaction volumes while also supporting higher home prices. A full 82% of sellers and buyers felt “locked in” by their current (low) mortgage rates, according to a survey released by realtor.com. The inventory may not be there, but the demand sure is. Seattle inventory was unchanged at 1.6

New Listings 59

New Listings Inventory Buyers Sellers 59

Lamacchia Realty

JULY 22, 2022

Highlighted in this report are the average sale prices for single-family, condominiums, and multi-family homes in Massachusetts along with the number of homes listed for sale, placed under contract, and price adjustments. Pending Home Sales (contracts accepted). The number of homes placed under contract declined 13.7%

Sellers 73

Sellers Buyers Inventory Contracts 73

Eppraisal

MAY 12, 2021

This is a direct result of the historically low inventory of homes available for sale as buyers are competing for homes. Buyers are placing their best offers to get sellers to choose them. Buyers are even using escalation clauses with their offers to purchase a home. month-over-month. by mid-2021 and end up 10.5%

Sellers 67

Sellers Real Estate Buyers Home Value 67

Listing Spark

JUNE 21, 2022

The real estate industry has been experiencing some shifting trends lately, and when compared to the last crash, there are plenty of factors that make this time different from 2008. Back then, terrible lending regulations, a surplus of inventory, and little to no equity for homeowners was a recipe for disaster. this April, up from 1.1

Sellers 69

Sellers Housing Market Marketing Inventory 69

Lamacchia Realty

FEBRUARY 22, 2022

The 2021 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2021 compared to 2020 and illustrates what that means for the current market. It was also a clear rebuke of the theory that the Covid pandemic would cause a similar crash to 2008. to $633,518.

Inventory 51

Inventory Sellers Buyers Real Estate 51

Will Springer Realtor

SEPTEMBER 12, 2023

The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. Only buyers and sellers who must move are doing so. This suggests homes – while far fewer for sale than in recent years – are quickly being scooped up by those few available buyers. months’ inventory, down from 1.5

Finance 68

Finance Inventory Construction Buyers 68

Lamacchia Realty

DECEMBER 28, 2021

It was the year of the frustrated buyer, particularly in the first half of the year. The inventory of homes for sale and the number of homes being listed for sale were not nearly enough to satisfy the buyer demand. Remember only one offer can win so this caused lots of disappointment for both buyers and buyer’s agents alike.

Sellers 74

Sellers Inventory Buyers Realtors 74

Listing Spark

OCTOBER 13, 2022

What should buyers and sellers be doing right now? How the housing market affects the rest of the economy How to approach the current housing market as a seller Final advice for buyers in the current housing market Are buyers pulling out of contracts at the last minute? Or are some doing better than others?

Housing Market 36

Housing Market Real Estate Marketing Buyers 36

Listing Spark

FEBRUARY 7, 2024

On the heels of the largest run up in home values in recorded history, we saw an abrupt and heavy shift that’s been challenging to grapple with for sellers and buyers. 2) Interest rates skyrocketed and buyer demand plummeted Interest rates were the biggest story of 2023. We didn’t see a wave of panic selling like we did in 2008.

Real Estate 36

Real Estate Sellers Home Value Inventory 36

Lamacchia Realty

JANUARY 28, 2022

The drop in early 2020 sales due to low winter inventory and then the pandemic made it easier for 2021 to outperform in that time frame. The post shut down race for buyers to secure homes in the later part of 2020 made it tough for 2021 to keep up and ultimately it didn’t happen. Homes Pending (contract accepted) – All of NH.

Buyers 45

Buyers Contracts Inventory Real Estate 45

Appraisal Today

MAY 24, 2024

22 acre lot, built in 2008 Known as El Palacio Del Solano, the 22-acre property in Somis, CA, boasts a main residence, two-bedroom guesthouse, and an event space designed for grand-scale entertaining. Built in 2008, the luxury estate last traded hands in 2021 for $6,250,000. baths, 19,660 sq.ft., ® this week. percent the previous week.

Appraisal 81

Appraisal Contracts Mortgage Reconsideration of Value 81

Will Springer Realtor

MARCH 14, 2023

Unless the listed home is in a favorable location, priced competitively and move-in ready, activity has been somewhat muted as prospective buyers and sellers wait for economic conditions to improve. This time last year, buyers were aggressively scooping up available homes before the predicted increase in mortgage interest rates.

Marketing 36

Marketing Buyers Inventory Sellers 36

Will Springer Realtor

JANUARY 10, 2023

Homes going under contract (Pending sales) dropped 25% from the previous month and by 30% year-on-year (YoY) – staggering drop-offs. The number of Pendings (1206) has fallen for five consecutive months and is the lowest of any month since December 2008 (1167). A bright spot for buyers: Active listings for all homes as of Jan.

Housing Market 36

Housing Market Marketing Inventory Real Estate 36

Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. The number of potential buyers will decrease as rates go up in many markets. Computer modeling did not predict the 2008 crash. USPAP and the Contract.

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Appraisal Today

SEPTEMBER 22, 2023

A buyer gets a seller’s disclosure statement for that information. Values are so high that buyers are putting a lot of money down to lower the monthly payment as much as they can. But buyers should note that prices have been rising even in these last bastions of modestly priced real estate. No appraisal required on those!

Appraisal 86

Appraisal Training Inspection Real Estate 86

Appraisal Today

MAY 26, 2023

The fraud started in 2008, one year after Roberts became a licensed appraiser, according to court documents and statements. From 2008 to 2019, Roberts fraudulently inflated the value of at least 18 different easements by violating industry norms and making false statements. Let’s take a look at it from basically both sides.

Easement 52

Easement Contracts Appraisal Inspection 52

Appraisal Today

AUGUST 5, 2022

Is it headed for a crash like in 2008? Excerpts: Lending was not very prudent prior to the crash of 2008 as suggested by the trend in the median credit score (FICO), a measure for credit worthiness; for newly originated first-time purchase mortgages the median FICO score was 686 in Q1 2006 versus 740 in Q4 2020. Find out why not.

Appraisal 59

Appraisal Valuation Contracts Modernization 59

Listing Spark

NOVEMBER 17, 2022

Many buyers are exiting the market because of higher rates. Despite rising rates, there are a lot of advantages that are coming into the market for buyers. So if you’re a buyer, how do you buy in the current market? What buyers can expect from mortgage rates based on the changing market. Episode overview.

Real Estate 36

Real Estate Mortgage Buyers Sellers 36

Appraisal Today

MAY 17, 2024

For buyers, I tell them to look for these homes for sale. Bad: very few REO appraisals which kept appraisers busy during previous crashes, such as 2008. Added Kan, “While the downward move in rates benefits prospective homebuyers, mortgage rates are still much higher than they were a year ago, while for-sale inventory remains tight.”

Tools 64

Tools Appraisal Renovations Design 64

Appraisal Today

MAY 10, 2024

In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. Appraisers must consider broader economic indicators, such as inflation rates and GDP growth, in tandem with localized market conditions, including inventory levels and median price changes, to provide accurate and timely valuations.

Reconsideration of Value 73

Reconsideration of Value Appraisal Real Estate Insurance 73

Houston Properties

JANUARY 12, 2022

While no one ever thinks they’ll be forced to sell in a down market, very few people predicted 9/11 (2001), Great Recession (2008), the collapse of oil prices (2014), or Hurricane Harvey (2017). Why We're Fearful: Buyer & Seller Mistakes. I’m A Buyer. Why We’re Fearful: Buyer & Seller Mistakes. "A

Real Estate 36

Real Estate Marketing Real Estate Agent Realtors 36

Appraisal Today

OCTOBER 20, 2023

million 3 bedrooms, 2 baths, 2,281 sq.ft, built in 2008, 21.23 “When certain keywords appear in a rising share of listings, it’s a signal that today’s home buyers may be gravitating toward those features,” said Amanda Pendleton, Zillow’s Home Trends Expert. The ARM share was 9.3 percent from 7.67

Appraisal 71

Appraisal Design Contracts Inspection 71