Housing Wire

DECEMBER 27, 2022

.” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.

Housing Market 503

Housing Market Marketing Real Estate Agent Real Estate 503

Housing Wire

MARCH 18, 2022

NAR Research : First-time buyers were responsible for 29% of sales in February; Individual investors purchased 19% of homes; All-cash sales accounted for 25% of transactions; Distressed sales represented less than 1% of sales; Properties typically remained on the market for 18 days. We have solid replacement buyers: people needing shelter.

Housing Market 542

Housing Market Marketing Inventory Sellers 542

Housing Wire

JANUARY 20, 2023

From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. This means we don’t have enough housing inventory available because with lending standards back to normal we can’t replicate the credit demand we saw in housing from 2002-2005.

Inventory 539

Inventory Housing Market New Listings Marketing 539

Appraisal Buzz

MAY 17, 2021

Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. Prices were escalating quickly, and buyers were purchasing in a frenzy for fear of being left behind and not being able to get their foot on the property ladder. This is no different than ignoring declining trends. How do we combat this?

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Appraisal Clients Real Estate Sellers 418

Housing Wire

APRIL 24, 2023

In addition, some white neighborhoods had zoning laws that legally banned non-white buyers from owning homes in those neighborhoods. million new minority homeowners when the president launched the Blueprint for the American Dream in 2002. This means that the most likely buyer for many of these new retirees will be a minority family.

Legal 332

Legal Housing Market Government Buyers 332

Housing Wire

OCTOBER 20, 2023

No buyer must use a real estate agent — ever. A meaningful percentage of buyers did not hire a real estate agent when they bought their last home. RealTrends + Harris Insights ‘ studies from 2002, 2005, 2006, 2011, 2014, and 2019 all show that consumers know that commissions are negotiable.

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Real Estate Agent Real Estate Brokerage Agents 426

Housing Wire

AUGUST 30, 2022

However, we haven’t had a credit sales boom like the one we saw from 2002-2005. One of the issues with existing home inventory has been that, for the most part, a traditional seller is usually a buyer of a home. Nor can we ever have a credit sales boom again with lending standards back to normal. million listings.

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Inventory New Listings Law Housing Market 384

Housing Wire

MAY 18, 2023

We don’t have a massive credit boom as purchase application data is at historical lows; we haven’t had the same run-up in credit as we saw from 2002-2005. This is why I always draw the black line on the chart below — to show people that we haven’t had a credit boom for many years.

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Housing Market Marketing Inventory Mortgage 532

Housing Wire

SEPTEMBER 22, 2022

A traditional primary resident seller is also a buyer, which means if they don’t list, they’re not just taking a potential home to be bought off the table — they’re taking a future sale off the books as well. However, it’s not the market of 2002-2011. From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

Inventory 452

Inventory Housing Market New Listings Mortgage 452

Housing Wire

NOVEMBER 9, 2022

This time around, we have not seen the kind of housing credit boom that we did from 2002-2005. NAR total inventory data 1,250,000 One thing about purchase application data and demand is that a traditional seller is typically a buyer of a home. Post-2012, whenever mortgage rates rise, existing home sales always trend below 5 million.

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New Listings Inventory Housing Market Sellers 482

Housing Wire

OCTOBER 27, 2022

The 30-year fixed-rate mortgage broke 7% for the first time since April 2002, leading to greater stagnation in the housing market,” Sam Khater, Freddie Mac’s chief economist, said in a statement. A year ago at this time, rates averaged 3.14%. The survey, conducted weekly since 1990, covers 75% of all U.S.

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Mortgage Loan Officers Clients Housing Market 361

Housing Wire

DECEMBER 7, 2022

As you can see from the chart above, the last several years have not had the FOMO (fear of missing out) housing credit boom we saw from 2002-2005. million, the equilibrium balance between a buyer and seller marketplace that has been here for four decades. Accordingly, we also haven’t had a credit bust in the data line.

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Housing Market Mortgage Marketing Inventory 542

Housing Wire

MAY 19, 2022

Because we had a housing credit bubble from 2002 to 2005, the credit demand push on exotic loan debt structures was a setup for future forced credit selling. Even though mortgage rates are historically low, they still always matter because mortgage buyers are the biggest homebuyers in America.

Housing Market 521

Housing Market Marketing Inventory Realtors 521

Housing Wire

MARCH 28, 2022

Logan Mohtashami: Rising rates make housing less affordable, so for a first-time home buyer that doesn’t have the benefit of selling their home with that nested equity, it makes it harder for them. This is much different from the marketplace we saw from 2002-2005, a massive credit bubble. months on a 3-month average.

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Housing Market Marketing Supply Chain Inventory 322

Housing Wire

APRIL 20, 2022

Housing demand has been stable for the past few years; we have never had a credit boom in demand since 2002-2005. From NAR : Total existing-home sales dipped 2.7% from February to a seasonally adjusted annual rate of 5.77 million in March. So, we never had a credit bust as we saw from 2005 to 2008.

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Housing Market Marketing Inventory Mortgage 488

Housing Wire

AUGUST 11, 2020

So, early in my career, I sought for ways to help would-be buyers, most being minorities, bridge the gap and achieve homeownership earlier. In the early 2000s, many — including myself — believed empowering someone with a home for sale to contribute to the buyer’s down payment was a small way to help deserving families.

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Government Sellers Development Mortgage 418

Housing Wire

DECEMBER 29, 2022

The housing market of 2002-2005 had four years of sales growth facilitated by credit. However, what isn’t identical is that we have not had a massive sales boom like we saw from 2002-2005. This is significantly different than the period from 2002-2005 when credit expansion was booming. Home sales. Housing credit.

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Housing Market Marketing Inventory Sellers 545

McKissock

JANUARY 19, 2021

She’s held her real estate salesperson license in Ohio since 2002 and is active in many associations, including the Real Estate Educators Association, The Ohio Association of Realtors, and The Columbus Board of Realtors, among others. John Wenner.

Real Estate 52

Real Estate Realtors Law Realty 52

Lamacchia Realty

DECEMBER 13, 2023

Jessica's Law Jessica’s Law was passed in 2002 after ice broke off a moving truck, hit a second truck, and caused it to crash into Jessica Smith’s vehicle, then 20 years old, killing her. New Hampshire Sidewalks on public roads are maintained and cleared of snow and ice by the municipality at no additional cost to property owners.

Law 66

Law Real Estate Agent Legal Realty 66

Housing Wire

MAY 26, 2022

That’s not the case now because we have’t had a credit boom post-2010 as we did from 2002 to 2005. However, the spike in inventory that we saw from 2006 to 2011 can be attributed to the massive credit bubble we had from 2002 to 2005. If you connect the lines, you can see where we are on a historical basis.

Inventory 505

Inventory Housing Market Construction Marketing 505

McKissock

MARCH 1, 2021

In 2002, when Dara Alperen Cipollone purchased her first home in East Boston, her real estate agent suggested she would be a great fit for residential sales. A: The obstacles Millennial real estate buyers face for owning a home in the Boston market come down to low inventory.

Real Estate 90

Real Estate Clients Real Estate Agent Renovations 90

Housing Wire

MARCH 23, 2022

It’s also driven more by mortgage buyers who tend to be older and make more money than the new-home buyers. Compared to the existing home sales marketplace, it doesn’t have a high cash buyer or investor buyer profile. This sector on an apples-to-apples basis is more expensive than the existing home sales market.

Mortgage 460

Mortgage Inventory Housing Market Construction 460

Housing Wire

DECEMBER 22, 2020

Because housing demand is at pre-cycle highs, we can infer home prices are not an issue for most buyers. nominal home price growth every year for the next several years, affordability will be an issue for some buyers. However, this does not mean that real home prices may grow at an unhealthy pace in the years 2020-2024.

Housing Market 545

Housing Market Buyers Realtors Marketing 545

Lamacchia Realty

JANUARY 7, 2022

Jessica’s Law was passed in 2002 after ice broke off a moving truck, hit a second truck, and caused it to crash into Jessica Smith’s vehicle, then 20 years old, killing her. Sidewalks on public roads are maintained and cleared of snow and ice by the municipality at no additional cost to property owners, source. Jessica's Law.

Law 74

Law Real Estate Agent Realty Insurance 74

Housing Wire

MARCH 23, 2023

This business model means that the builders are very mindful of the demand for their product and keep an eye out on their main competition, the existing home market, where supply is cheaper for a buyer. They can cut prices, pay down mortgage rates for their buyers, and do what they need to to make it work for them to move their products.

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Inventory Housing Market Construction Marketing 537

The Robert Weiler Company

SEPTEMBER 16, 2022

Landowners may have a potentially reduced land buyer pool. Do your homework to guarantee that, when you want to sell, there is interest from land buyers who share your views on the protected land. You may also have limitations in your ability to install green technologies like wind turbines. Conservation Easement Ohio Stats in 2022.

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Easement Appraisal Development Property Appraisal 148

Housing Wire

SEPTEMBER 22, 2020

Because housing is becoming an outperforming asset, we may see an increase in cash buyers in 2021 as a percent of sales. The majority of home buyers in America buy homes to live in, not for an investment. This is the big difference between the housing market now and what we saw in 2002-2005, when we saw a lot of speculation going on.

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Housing Market Marketing Construction Buyers 542

Houston Properties

JUNE 11, 2020

Thanks to HGTV, your listing only has 8 seconds to capture a buyer's attention. This is because more buyers now find homes online, and the Houston Properties Team is #1 in online marketing. Wide International And Relocation Buyers Reach For Your Listing. Sell Your Home Fast For More: It's All About The Online Buyer. "Buyers

Marketing 41

Marketing Open Houses Buyers Realtors 41

Housing Wire

APRIL 8, 2022

history are ages 26-32, and the first-time median home buyer age is now 33. Again, what happened in housing from 2002 to 2008? Our market is much different than that 2002-2008 period. Don’t forget the mortgage buyer is the most significant homebuyer out there; they matter the most. We are currently a t 1.7

Housing Market 397

Housing Market Marketing Inventory Lending 397

Housing Wire

MAY 18, 2022

We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home. Housing in 2020 and 2021 benefited from rates between 2.5% – 3.75% , which gave buyers more purchasing power. The builders are mindful of this and will be cautious on single-family starts.

Mortgage 464

Mortgage Construction Contracts Housing Market 464

Appraisal Today

NOVEMBER 4, 2022

Keep them up to date in every step of the report so that they can keep the Lender (and the Buyer/Seller/Realtor/Closing Attorneys when applicable) all in the loop on the progress of the report. Buyer-Borrower Remorse. Essentially, the cases are situations of “buyer-borrower remorse.” Have a very responsive credo.

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Housing Wire

AUGUST 16, 2022

Of course, housing starts today aren’t collapsing in the way they did from the peak of 2005 because we haven’t had a sales credit boom in recent years as we did from 2002-2005, which inflated new home sales toward 1.4 The credit cycle looks much different now than the build-up from 2002-2005.

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Mortgage Construction Inventory Buyers 531

Housing Wire

DECEMBER 23, 2022

The truth here that nobody wants to talk about is that we didn’t have a massive sales credit boom in housing from 2020-2021 like we saw from 2002-2005. You could have specific buyers that need to sell their current home in order to buy a new home and don’t want to bother with it now since rates are so much higher.

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Construction Housing Market Mortgage Sellers 348

Housing Wire

JULY 19, 2022

Some buyers had to wait forever before they could lock in their rate, meaning they didn’t qualify for their homes as rates moved up so fast. We never saw the credit sales boom as we did from 2002-2005, so the builders themselves are in a better position to manage their future. This data line is already below 2008 levels currently.

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Housing Market Marketing Construction Real Estate 515

Housing Wire

JUNE 16, 2022

As rates rise, this will impact the builders more as they try to find buyers for current homes in cancellation. As you can see below, housing completion data hasn’t done much for many years, unlike 2002-2005. But, this data line should grow a tad more while they finish up homes that they do have buyers for.

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Housing Market Buyers Mortgage Construction 544

Housing Wire

DECEMBER 20, 2022

Traditionally, housing starts, permits, and completions would move together, like what we saw in 2002-2005. From 2002-2005 it was a steady rise to the top of the housing bubble, and then it burst. Over the last six weeks, we have seen that buyers came back in the data line when mortgage rates fell from 7.373% to 6.12%.

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Housing Market Marketing Construction Supply Chain 408

Housing Wire

APRIL 15, 2022

Inventory falling again in 2022 created more forced bidding wars, which frustrates buyers, keeps potential sellers from wanting to list, and creates stress for real estate agents doing a lot of work with nothing to show for it. As you can see below, the housing market from 2018 to 2022 doesn’t look like anything we saw from 2002 to 2005.

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Housing Market Marketing Mortgage Inventory 500