Cleveland Appraisal Blog

OCTOBER 14, 2021

Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008.

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Housing Wire

AUGUST 28, 2023

It’s] essentially redlining — neighborhoods of predominantly people of color are given lower market value,” said one non-appraiser respondent. Similar to 2022, some 63% of non-appraiser members cited a lack of inventory among their greatest obstacles, followed by rising prices and declining affordability (54%).

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Cleveland Appraisal Blog

MAY 27, 2021

While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption. While some may be willing to spend more than market value on a home, in many cases, there is a threshold to the amount a buyer is willing to spend on a home.

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Housing Wire

JULY 21, 2021

Markets with Most Qualifying Inventory. Local investors like McCormick are also well-aligned when it comes to achieving those desired outcomes of homeownership and affordable inventory. of the property’s 2021 estimated market value (assuming good condition), but the subsequent resale price was 101.2%

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Appraisal Buzz

OCTOBER 3, 2022

I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers. Inventory levels have an impact on property valuation, at least in the short term.

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Housing Wire

MAY 21, 2024

It’s very, very market dependent right now. I’m still focusing on those markets with very low (retail) inventory. Meanwhile, the average winning bid relative to after-repair value has been rebounding nationwide after a short-lived dip at the end of 2023 — both for foreclosure auctions and for REO auctions.

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Cleveland Appraisal Blog

MAY 13, 2021

And right now, many buyers are forced to bring cash to the table to make up the difference between what the home’s market value is determined to be, and the contract price. It may still be worth it to the buyer to move forward, despite paying more than market value. . What is solid support for market value?

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Housing Wire

FEBRUARY 21, 2023

High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year. We’re just trying to move inventory quickly,” said Lee Kearney, a Tampa, Florida-based real estate investor who has an inventory of between 15 and 20 homes for sale at any given time. “If

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Housing Wire

JANUARY 13, 2022

These young buyers are not without headwinds, such as low affordable housing inventory, rising home prices and student debt. Younger millennials may have also helped as they moved back home during the pandemic at record numbers, thus skipped paying market value rent to a landlord. There are 23.4

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Cleveland Appraisal Blog

JUNE 25, 2021

What is the primary reason a newly built home has a higher market value than the same home that is older? Simply stated, it is loss in value. During the Great Recession, home prices were falling rapidly due to an over-supply of inventory, which was out of the control of individual homeowners. In a word, depreciation.

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Housing Wire

JANUARY 4, 2022

The new facilities are revolving, and we borrow only what we use to add inventory, where we continue to apply our disciplined approach to underwriting homes,” a spokesperson said. “In billion market value. Still, the company asserted the loans are not a risk but a “positive outcome that positions us well for the coming year.”.

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Housing Wire

MAY 12, 2021

Even with historically low levels of inventory, rising mortgage rates and uneven job growth, experts still believe 2021 will be a record year for home sales. trillion is roughly equal to France’s 2020 gross domestic product , or the combined market value of Amazon and Facebook. How much will be spent on homes?

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Housing Wire

DECEMBER 4, 2020

of market value across all markets since then. As more homeowners think about selling their homes within the next year, many won’t — because they are nervous about how to do it because of COVID, scarce inventory and general uncertainty,” Lane Hornung, zavvie co-founder and CEO, said in a statement.

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Sellers Market Value Inventory Marketing 361

Housing Wire

NOVEMBER 23, 2020

Steve Price, senior vice president of trustee operations at Auction.com, said this is likely because of the shift to vacant or abandoned properties that often come with more deferred maintenance – but the average price relative to estimated full market value increased to a 6.5-year year high in September.

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Cleveland Appraisal Blog

JANUARY 5, 2023

While we still have a significant shortage of housing inventory in Cuyahoga County, we had more active listings last month than we had in December 2020 and 2021. Something else to watch is housing inventory. Single-family home inventory in Cuyahoga County has increased considerably compared to the past two years.

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Cleveland Appraisal Blog

MARCH 30, 2021

This fish phenomenon reminds me of the housing market today. There is a lot of demand out there, with very little inventory. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. It may be due to inventory levels continuing to drop.

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Housing Wire

JULY 17, 2023

With real estate inventory at a near-record low, buyers seeking a place to call home are facing stiff competition as bidding wars continue to be commonplace. The listing price of the property is typically set below the current market value to generate immediate interest in the property.

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Housing Wire

NOVEMBER 19, 2020

Now, heirs will pay market value in taxes. Research shows this will open up more inventory. The latter is a big deal for the roughly 650,000 Californians who, since 2010, have received a tax break allowing them to maintain their relatives’ low property taxes when they inherit the home.

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Housing Wire

MAY 18, 2021

. “I started as an agent up here in 2009, and I’ve been saying since then the only thing that would slow down the market would be some sort of national or international event,” said Pullin, a managing broker at Skyline Properties. But when inventory dropped to a third of its normal amount, everything changed.

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Cleveland Appraisal Blog

AUGUST 6, 2021

HOME VALUES AND OVER-PAYING. Some buyers are paying over market value for their homes. It’s one thing to pay more than market value for a home because of being in a bidding war. What about paying more than market value due to being in a bidding war? No one knows what the market will do tomorrow.

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Eyes on Housing

DECEMBER 11, 2023

The continued lack of existing for-sale inventory has contributed to the growth in households’ real estate assets. According to the 2023 third quarter release of the Federal Reserve Z.1 1 Financial Accounts of the United States, household real estate assets grew for the second consecutive quarter. billion from $45.03 trillion in.

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Housing Wire

JULY 16, 2021

Many LOs still have a relatively full pipeline thanks to lower-than-expected mortgage rates and slowly climbing housing inventory – it will be a challenge convincing them to leave their current shops. billion market capitalization, less than half of its previous market value. The company now has a $4.2

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Appraisal Buzz

SEPTEMBER 12, 2022

The exact cause for Zillow’s shutdown of its iBuying branch was its inability to predict local housing prices accurately while purchasing and turning over inventory at scale. With a $304 million inventory gone to waste, Zillow found it difficult to estimate home prices during the quick-changing pace of the housing market during the pandemic.

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Housing Wire

AUGUST 11, 2022

Redwood’s earnings-review report states that the majority of jumbo inventory “yet to be sold or securitized in the current market is at lower coupons [3.5% That’s based on a comparison of the principal balance of the loans on the books and an assessment of their fair market value as reported by the REIT as of that date.

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Housing Wire

DECEMBER 16, 2021

When this article was published, the unemployment rate is at 4.2%, inflation is above 6%, and both stock market and housing market values are elevated. The inventory of existing homes remains quite tight at less than 2.5 The inventory of existing homes remains quite tight at less than 2.5 What if it doesn’t?).

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Housing Wire

MARCH 24, 2023

An appraisal gap is the difference between what a buyer agreed to pay for a home in a purchase contract and what an appraiser concludes as the fair market value of the property. Buying a home is not for the faint of heart, especially when inventory is so low and affordability is a challenge.

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Housing Wire

MARCH 9, 2021

The brokerage calculated home-equity gains throughout 2020 for each neighborhood type for homeowners who purchased a home anytime during 2019, using January 2021 Redfin Estimates as a proxy for current market value. The terms “Black homeowner,” “white homeowner,” etc.

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Home Value Market Value Brokerage Inventory 468

Housing Wire

DECEMBER 3, 2020

Proposition 19 eliminated the ability of homeowners to transfer primary residential properties to their children or grandchildren without the property’s tax assessment resetting to market value if the property is being used as a rental house or second home.

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Property Taxes Realtors Law Inventory 302

Housing Wire

MAY 6, 2021

The hike has also added nearly $13,000 to the market value of an average new multifamily home, which translates into households paying $119 a month more to rent a new apartment, the NAHB said. Rising prices can be traced back to the onset of the COVID-19 pandemic in the U.S.

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Housing Wire

JULY 21, 2022

This data shows early signs of a slowdown in the retail housing market in June that was anticipated by real estate investors buying properties at foreclosure auction in March. The as-is market value is typically based on a drive-by broker price opinion or external-only appraisal given the properties are usually still occupied.

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Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. However, oftentimes, it does not. .

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Appraisal Market Value Contracts Agents 418

Lamacchia Realty

SEPTEMBER 18, 2021

1) Inventory will be at its peak The frenzied market that has all but consumed inventory has started to calm down just enough to make this more of a buyer’s market than we’ve seen since 2019. Is inventory still lower than in past years? Therefore, the low inventory and sky-high demand created extreme competition.

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Inventory Sellers Buyers Market Value 69

Cleveland Appraisal Blog

MARCH 25, 2023

– Birmingham Appraisal Blog Tim O’Brien’s Journey in the Appraisal Industry: Following the Yellow Brick Road – PahRooZings: Appraisers On Purpose Podcast Appraiser Adjustment Tools – APPRAISAL TODAY Devalue Market Value?

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Supply Chain Renovations Appraisal Market Value 280

McKissock

JULY 23, 2021

Every real estate appraiser is familiar with the terms “marketing time” and “exposure time,” but it’s not always clear why and how these are developed in everyday assignments when developing an opinion of market value. Several conditions are implicit to market value as defined by the Federal Agencies.

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Hank Miller Team

JANUARY 25, 2022

Conditions of the sale are subject to untold variables – economy, location, condition, inventory, local market, concessions, commissions, time of sale…different day, different price. Market Value Market value anticipates the “a home should sell for” question. It is often a percentage of fair market value.

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Home Value Market Value Buyers Inventory 52

Housing Wire

OCTOBER 10, 2023

More than a dozen industry pros and attorneys told HousingWire that RESPA rules are unclear, leaving violations to flourish in a shrinking market. One can’t spend more than the reasonable market value, must also use these services and actually receive them. However, the Freedom case represented a “wakeup call.”

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Appraisal Buzz

SEPTEMBER 20, 2021

Since market value is defined as the most probable price (with stipulations, of course), if your distribution is ‘normal’, then each of those measures will point to the same conclusion. As a practical matter, it is good to let your active inventory influence how you remove an outlier.

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