Cleveland Appraisal Blog

JANUARY 5, 2023

We all needed some rest from the crazy housing market we’ve experienced in recent years. Like most markets across the country, the Cleveland area housing market has been red hot for the past few years. How have the rapidly increasing mortgage interest rates impacted the housing market in Northeast Ohio?

Housing Market 369

Housing Market Marketing Appraisal Inventory 369

Housing Wire

MAY 15, 2024

housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. That’s a swing of 17% fewer sellers in just a matter of days. million in January 2021 (when mortgage rates were 2.7%) fell to 3.9

Mortgage 366

Mortgage New Listings Inventory Sellers 366

Housing Wire

NOVEMBER 29, 2021

in October — and since we are days away from December, we can officially label the 2021 housing crash bears as even worse than the 2020 housing crash bears. Like I have often said, professional grifters have plagued the housing sector for many years and shouldn’t be looked to as fundamental economic sources of information.

Inventory 527

Inventory Contracts Training Investors 527

Housing Wire

OCTOBER 1, 2021

But for the past 12 months, the metro’s housing market has been in complete chaos. “It The Provo-Orem market is growing at a faster rate per capita than really anywhere else in the state of Utah, including our capital, Salt Lake City.”. On average, in August 2021, homes in the area sold for about 2.5% year-over-year.

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Housing Market Marketing Agents Real Estate 414

Housing Wire

NOVEMBER 6, 2020

That renewed interest is being felt on the ground, according to Keller Williams Realtor Danielle Buchbinder. Inventory is too low, people need to decide to sell their houses,” Buchbinder told HousingWire. There are] a lot more buyers than there are sellers right now, causing an increase in purchase prices,” Buchbinder said. “A

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Housing Market Marketing Inventory Buyers 406

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). “The bond market is forcing the Fed to pivot.”

Real Estate 450

Real Estate Inventory Sellers Realtors 450

Housing Wire

APRIL 25, 2024

While DeRoussel’s experience sounds exactly like many of the stories that emerged from the pandemic-fueled homebuying frenzy of 2020 and 2021, this happened just a few weeks ago in early April 2024. “It It is extremely competitive,” DeRoussel said of the Cincinnati housing market. “We Buyers are really struggling.”

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Buyers Marketing Inventory Investors 374

Housing Wire

APRIL 18, 2024

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. NAR: Total housing inventory registered at the end of March was 1.11 million active listings per the last report, we have 526,000 per our last Housing Market Tracker article.

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Inventory Housing Market New Listings Buyers 472

Housing Wire

MARCH 21, 2023

economy and real estate markets, having worked at the National Association of Realtors and Move, Inc. before joining Realtor.com in 2021 where he led a team covering broader economic trends, housing activity and consumer issues. This housing market is responding to changes in the bigger monetary landscape,” Ratiu said.

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Real Estate Real Estate Agent Housing Market Agents 380

Housing Wire

JANUARY 20, 2023

million, according to a report from the National Association of Realtors (NAR) released Friday. The housing market may have started 2022 out with a bang, but it exited the year with a whimper,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. “The from November to a pace of 4.02 A total of 5.03 year over year.

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Inventory Housing Market Realtors Buyers 338

Lamacchia Realty

DECEMBER 7, 2021

has released their “Top Producing REALTORS®,” for November 2021! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Lamacchia Realty, Inc. To learn more about Amy, click here.

Realtors 74

Realtors Realty Real Estate Clients 74

Lamacchia Realty

NOVEMBER 3, 2021

has released their “Top Producing REALTORS®,” for October 2021! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Joselin Malkhasian is a REALTOR® working with both buyers and sellers in the Greater Boston Area.

Realtors 66

Realtors Realty Real Estate Agents 66

Housing Wire

JULY 13, 2021

bidding-war rate Redfin saw in June 2020, when the housing market was starting to rebound from a temporary standstill triggered by pandemic shutdowns, said Laura Sechrist Molenda, a Redfin real estate agent based in Southern California. Two of my buyers just had their offers accepted because the sellers’ first buyers backed out.

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Inventory Housing Market Real Estate Agent Buyers 493

Housing Wire

SEPTEMBER 17, 2021

The bidding wars that put smiles on the faces of sellers and simultaneously drove buyers to rip their hair out weren’t as frequent in August, according to the latest report from brokerage Redfin. Despite these obvious signs of a slowing market, Redfin states that it is in line with the typical seasonal decline. In August, 58.8%

Buyers 425

Buyers Inventory Real Estate Agent Agents 425

Housing Wire

MAY 14, 2024

In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending. Another issue is home sellers’ bias against buyers using FHA loans, where offers from non-FHA borrowers are often selected even though lower in price.

Sellers 295

Sellers Realty Insurance Realtors 295

Housing Wire

JANUARY 9, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.

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Retail Sellers Buyers Market Value 421

Housing Wire

NOVEMBER 4, 2022

The National Association of Realtors (NAR) released a report on Friday that found 88% of all first-time homebuyers in the U.S. The share of Black and Asian first-time buyers is down from 6% in 2021, while the share of white first-time buyers is up from 82% and Hispanic homebuyers up from 7%. million in 2021, up from 50.5

Buyers 338

Buyers Sellers Real Estate Agent Real Estate 338

Housing Wire

MAY 10, 2022

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. April was National Fair Housing Month. In February, NAR in partnership with Realtor.com released The Double Trouble of the Housing Market report.

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Housing Market Realtors Buyers Inventory 400

Housing Wire

MAY 24, 2021

The National Association of Realtors Confidence Index Survey for April reveals how hot the housing market is. The April 2021 survey was sent to 50,000 Realtors selected from NAR’s over 1.4 There were 3,541 respondents to the online survey which ran from May 3-10, 2021, of which 1,731 had a client.

Realtors 471

Realtors Buyers Housing Market New Listings 471

Lamacchia Realty

DECEMBER 11, 2023

THE HIDDEN COSTS OF SELLING YOUR HOME WITHOUT A REALTOR® There is no denying it, the housing market has been a rollercoaster over the last several years. From the Covid-19 driven frenzy in 2020 to the significant inventory slowdown this year , buyers , sellers , and agents have all had adapt and grow comfortable with change.

Realtors 71

Realtors Real Estate Agent Sellers Realty 71

Housing Wire

DECEMBER 28, 2021

real estate in 2022 may see challenges to its biggest enterprises, including the National Association of Realtors and Zillow , and shifting adjustments to how work is done amid the coronavirus pandemic. What we’re starting to see is more of a cooling or a plateauing than a market correction.”. on pace for 6.29

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Real Estate Realty Brokerage Realtors 440

Housing Wire

MARCH 22, 2023

According to Redfin, the last time down payment percentages were at this level was in early 2021 — prior to the pandemic real estate boom reaching its zenith. Redfin attributed the drop in down payment amount and percentage to the slower housing market , lower home prices, and higher housing costs due to rising mortgage rates.

Buyers 379

Buyers Sellers Mortgage Realtors 379

Lamacchia Realty

JANUARY 11, 2024

has released their “Top Producing REALTORS®,” for all of 2023! This program recognizes the Top 10 REALTORS® out of the over 500 agents in Lamacchia Realty by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the year! Cyndi thrives to make her buyers and sellers her top priority.

Realtors 66

Realtors Realty Real Estate Agents 66

Housing Wire

AUGUST 10, 2022

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. Once that happens, I can finally take the savagely unhealthy housing market theme off my talking points. What does this mean? million to 1.93

Inventory 519

Inventory New Listings Housing Market Sellers 519

Lamacchia Realty

OCTOBER 11, 2023

has released its “Top Producing REALTORS®,” for September 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! She was awarded Most Sales and Most Sales Volume in 2018 2019 , 2020 , and 2021 for our Woburn Office.

Realtors 74

Realtors Realty Real Estate Clients 74

Housing Wire

SEPTEMBER 22, 2022

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . from July to a seasonally adjusted annual rate of 4.80

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Inventory Housing Market New Listings Mortgage 437

Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. The Federal Reserve wanted to see the bidding wars end and the days on the market grow.

Inventory 459

Inventory Marketing Housing Market New Listings 459

Housing Wire

FEBRUARY 19, 2021

The National Association of Realtors reported that existing home sales for January were at 6,669,000, which beat estimates. When the 10-year yield gets into the range of 1.33%-1.60%, we will have achieved our goal for the “America is Back” economic model that I proposed last year, which I believe could only happen in 2021.

Housing Market 508

Housing Market Realtors Mortgage Sellers 508

Lamacchia Realty

JULY 7, 2023

has released its “Top Producing REALTORS®,” for June 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Accordingly, Kevin was the winner of the 2021 Most Growth award company-wide and named a 2021 Top Producer.

Realtors 74

Realtors Realty Real Estate Clients 74

Housing Wire

MARCH 19, 2024

President Joe Biden will be in Las Vegas on Tuesday, where he will offer additional remarks about the policies and priorities of his administration’s push to address housing issues for renters and buyers alike. Biden will also highlight the money offered to states in the 2021 American Rescue Plan Act to boost affordable housing supply.

Sellers 303

Sellers Buyers Realtors Investing 303

Lamacchia Realty

JUNE 18, 2021

ARE YOU A WANT-TO-BE-SELLER IN 2021? There are questions about housing market health and what the market is actually doing. This means NOW is a great time to list to take advantage of motivated buyers before other sellers start to saturate the market. Worried about having to move twice?

Sellers 67

Sellers Realty Buyers Realtors 67

Lamacchia Realty

SEPTEMBER 7, 2023

has released its “Top Producing REALTORS®,” for August 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! She was awarded Most Sales and Most Sales Volume in 2018 2019 , 2020 , and 2021 for our Woburn Office.

Realty 74

Realty Realtors Real Estate Clients 74

Housing Wire

NOVEMBER 2, 2022

“Even with the Federal Reserve raising its short-term fed funds rate by another large amount, longer-term interest rates look to move only slightly,” Lawrence Yun, chief economist at National Association of Realtors , said. million in September 2021. Tables have turned for some sellers. million units from 6.18

Mortgage 388

Mortgage Sellers Contracts Buyers 388

Housing Wire

NOVEMBER 3, 2020

nationally by September 2021 as higher prices erode affordability. Home purchase demand managed to maintain pace through the summer, and now through the fall, as record low mortgage rates continued to encourage new borrowers to enter the market. Data from the National Association of Realtors and U.S. by September 2021.

Inventory 463

Inventory Housing Market Construction Marketing 463

Lamacchia Realty

AUGUST 9, 2023

has released its “Top Producing REALTORS®,” for July 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Shauna is a member of the 2019 , 2021, and 2022 President’s Club and the 2021 and 2022 President’s Club ELITE.

Realtors 63

Realtors Realty Real Estate Clients 63

Lamacchia Realty

SEPTEMBER 10, 2022

has released their “Top Producing REALTORS®,” for August 2022! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! In 2021, Laurie also won the award for Most Transactions Company-wide. Lamacchia Realty, Inc.

Realtors 71

Realtors Realty Real Estate Agents 71

Housing Wire

MAY 10, 2023

This is the smallest 12 month increase since the year ending April 2021 and the 10th consecutive month of declines. Lawrence Yun , the National Association of Realtors ’ chief economist, took a stronger stance during the “Residential Economic Issues and Trends Forum” at NAR’s ongoing Legislative Meeting.

Housing Market 341

Housing Market Insurance Realtors Buyers 341