Housing Wire

JANUARY 20, 2023

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. The Federal Reserve did not like the homebuying atmosphere during COVID-9, especially the non-contingent buying contracts.

Inventory 541

Inventory Housing Market New Listings Marketing 541

Housing Wire

NOVEMBER 2, 2021

.” “Because of this price forecasting volatility, we have had to reconsider what the business might look like at a larger size,” added Barton, who also co-founded Zillow in 2005. In short, Barton lamented that iBuying was too risky a way to spearhead Zillow monetizing its 220 million average monthly unique users. billion.

Market Value 397

Market Value Real Estate Agent Agents Business 397

Housing Wire

NOVEMBER 17, 2022

For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. If the builders could, they would take some of the past contracts back, but they’re just stuck with these homes. I personally wouldn’t do it.

Contracts 545

Contracts Construction Supply Chain Marketing 545

Appraisal Buzz

MAY 17, 2021

Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. Almost daily, there is some story on social media about being “turned in” to the state by a disgruntled agent, buyer, or seller for appraising a property below the contract price. We are seeing that as a profession again.

Appraisal 418

Appraisal Clients Real Estate Sellers 418

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. ==. USPAP and the Contract. Excerpt: But USPAP and the contract have a very unique relationship. Some appraisers do not like having a copy of the contract.

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Appraisal Today

OCTOBER 27, 2023

I quit all residential lender appraisals in 2005 due to the cyclicality. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.90 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 7.52 percent from 7.70

Property Appraisal 71

Property Appraisal Appraisal Business Contracts 71

Appraisal Today

SEPTEMBER 22, 2023

I never had more than one assistant and no appraisers after that, and finally quit doing lender residential appraisals in 2005. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.31 The average contract interest rate for 5/1 ARMs decreased to 6.42

Appraisal 85

Appraisal Training Inspection Real Estate 85

Housing Wire

MAY 24, 2022

As you can see, sales levels were never elevated like what we saw from 2002-2005. This housing cycle is and will always be based on real demand, versus the credit boom we saw from 2002 to 2005. The new home sales sector is much different — it’s a contract to purchase a home that isn’t built yet. Slow and steady wins the race.

Housing Market 397

Housing Market Inventory Construction Marketing 397

Appraisal Today

AUGUST 19, 2022

When I did lender res appraisals for direct lenders before 2005, I was usually only contacted if I had a typo: address, no value, etc. Do you really need an expensive support contract? I never buy support contracts. A lot cheaper than a contract. Some good tips for reviewing your non-lender appraisals. percent from 5.47

Appraisal 52

Appraisal Contracts Business Mortgage 52

Housing Wire

AUGUST 23, 2022

can’t have a credit sales boom like we saw from 2002-2005. This means we won’t be working from record-breaking demand of high sales like we did at the peak of 2005. The builders are in a better position to manage their inventory glut than when they were working from a credit boom in 2005 that took new home sales up to 1.4

Construction 370

Construction Housing Market Sellers Marketing 370

Housing Wire

OCTOBER 4, 2023

Business Dynamic Statistics data reveal that 2021 was a year of major growth for homebuilders but steep contraction for landlords (called “lessors” in the BDS). gain in 2005. The effects on each industry segment were disparate, the most recently available data for 2021 shows. There were 102,235 firms in 2021, surging 11.5%

Landlords 421

Landlords Agents Brokerage Supply Chain 421

Appraisal Today

FEBRUARY 3, 2023

I quit doing residential lender appraisals in 2005. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.19 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $726,200)increased to 5.99

Appraisal 40

Appraisal Contracts Business Mortgage 40

Appraisal Today

NOVEMBER 25, 2022

No changes to the form itself since 2005. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 6.67 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,200)decreased to 6.30 percent from 6.90

Appraisal 52

Appraisal Market Value Contracts Finance 52

Appraisal Today

FEBRUARY 24, 2023

In 2005 I finally quit all residential lender work due to the huge ups and downs in business. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.62 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.39

Appraisal 52

Appraisal Architecture Valuation Business 52

Will Springer Realtor

JANUARY 3, 2023

Supreme Court decision ruled the covenants as enforceable contracts. The local effort to remove racist language from property documents dates to 2005 as part of a project at UW’s History Department. The thinking then was that, by including the language white owners could protect property values.

Real Estate 36

Real Estate Technology Investing Legal 36

Appraisal Today

JUNE 3, 2022

Hopefully, it won’t stay the same as long as the 2005 URAR. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.33 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,200) decreased to 4.93

Appraisal 52

Appraisal Contracts Real Estate Marketing 52

Housing Wire

AUGUST 3, 2021

An index of 100 is equal to the average level of contract activity during 2001, the first year examined. May’s 8% increase was the highest jump for that month since 2005, according to NAR. The overall pending home sales index fell 1.9% in June, according to the National Association of Realtors , which tracks the metric. (An

Buyers 504

Buyers Inventory Realtors Contracts 504

Housing Wire

MAY 18, 2022

As you can see below, the housing demand data from 2002 to 2005 was never apparent in any housing data lines from 2018 to 2022. It takes forever to finish a home, and now the builders are dealing with the reality of borrowers who went into contract with sub-4% rates and are now dealing with 5%+ rates. percent (±7.7

Mortgage 473

Mortgage Construction Contracts Housing Market 473

Lamacchia Realty

JANUARY 25, 2024

This report breaks down sales, average prices, the number of active listings, and how many listings went under contract for 2023 compared to 2022 and discusses what is predicted to unfold in 2024. The number of homes placed under contract (pending), decreased by 17.7% Average prices for closed sales increased by 3.4%

Inventory 70

Inventory Sellers Contracts Buyers 70

Housing Wire

FEBRUARY 16, 2023

If the homebuilders and homebuyers knew rates would hit 7% in 2022, many would not have taken those contracts they’re canceling now. Just look at the chart below and how bad credit looked from 2005 to 2008, then the job loss recession happened. Let me be honest here: we got lucky as a country.

Construction 522

Construction Housing Market Inventory Mortgage 522

Housing Wire

MARCH 16, 2023

Many single-family housing contracts would not have been started if mortgage rates at the day of signing were at 6%-7%. As you can see in the chart below, today’s data looks different from the massive run-up in 2005 and the collapse. With rates spiking so much so soon, the builders are working off that backlog today. percent (±8.9

Mortgage 515

Mortgage Construction Marketing Contracts 515

Lamacchia Realty

JUNE 21, 2022

That’s because fewer homes are being placed under contract. Lamacchia Realty has been selling homes since 2005 and tracking data to develop an effective model on pricing homes. This was covered by Anthony Lamacchia and Gene Lavanchy on Boston 25, click here to watch. How much do you adjust the price?

Housing Market 65

Housing Market Bracketing Marketing Sellers 65

Appraisal Today

APRIL 12, 2024

40 acre lot, Built in 2005 “The village of Highlands is some of the most expensive real estate in the Carolinas,” Jackson (listing agent) says. “It The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.01 baths, 14,450 sq.ft., percent from 0.5 percent from 6.91

Appraisal 76

Appraisal Construction Contracts Architecture 76

McKissock

JULY 28, 2022

The mortgage appraisal forms we use today were designed in 2005 using technology and mortgage processes in place at the time. Consider all the technological advances since 2005: Apple released the iPhone, the first touchscreen smartphone. What exactly does this mean?

Appraisal 83

Appraisal Technology Real Estate Valuation 83

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. The February rate for units in buildings with five units or more was 501,000.

Construction 466

Construction Housing Market Inventory Buyers 466

Listing Spark

OCTOBER 27, 2022

I sold a lot of houses at 7% in 2005 through 2007 or six and a half percent and that was fine. You can show ’em, show people what’s on the market, show them how long houses are taking to go under contract. I look today and we’re at like 7.16 or something like that. Everybody was completely okay with that.

Real Estate 36

Real Estate Sellers Buyers Real Estate Agent 36

Appraisal Today

NOVEMBER 17, 2023

I finally quit doing residential lender appraisals in 2005. ” I was fortunate when I used to do lender appraisals, both residential (quit in 2005) and commercial (quit in 2013). The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) remained unchanged at 7.61

Appraisal 69

Appraisal Modernization Training Business 69

Appraisal Today

FEBRUARY 9, 2024

I am so glad I quit doing residential lender appraisals in 2005! = The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.80 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $766,550) decreased to 6.88

Appraisal 79

Appraisal Contracts Insurance Construction 79

Appraisal Today

APRIL 1, 2023

Of course, I gave up residential lender appraising in 2005, before AMCs took over but I liked lender appraising except for the huge ups and downs in business. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.48 Every appraisal is a challenge.

Clients 52

Clients Appraisal Contracts Business 52

Appraisal Today

AUGUST 12, 2022

I quit doing residential lender appraisals in 2005. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.47 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,200) increased to 5.09

Appraisal 52

Appraisal Contracts Mortgage Business 52

Lamacchia Realty

MARCH 26, 2024

The chart below shows the median time to contract, which is the number of days it takes for the property to be considered off the market. Since 2005, Lamacchia Realty has utilized data to refine a pricing model for homes, introducing the Lamacchia Realty Target Pricing Model in 2007.

Bracketing 60

Bracketing HOA Sellers Buyers 60

Lamacchia Realty

FEBRUARY 22, 2022

Below is a graph that illustrates home sales per year since 2005. Below is a graph that illustrates monthly home prices since 2005. Pending Home Sales (contracts accepted). Both sales and prices were up significantly over recent years- prices are the highest they’ve ever been. 2021 Sales by Month.

Inventory 51

Inventory Sellers Buyers Real Estate 51

GoForrmz

AUGUST 26, 2022

This can be as simple as implementing digital signature forms for student housing contracts, or as complex as building tech-centric study lounges for students. Campus Paper Waste” 2005. The best place to start is by streamlining processes you already have, then focusing on new tech amenities for comfort and convenience.

Technology 78

Technology Renovations Modernization Contracts 78

Appraisal Today

DECEMBER 9, 2022

31% of women and 27% of men signed up for Social Security at age 62 in 2018, down from around 54% of women and 50% of men in 2005, according to Social Security Administration data. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 6.41 percent from 6.49

Appraisal 52

Appraisal Contracts Business Mortgage 52

Lamacchia Realty

JANUARY 28, 2022

Homes Pending (contract accepted) – All of NH. In 2021 there were 27,131 homes listed for all of NH and 26,354 homes marked pending with accepted contracts. Again, right when the pandemic hit, the number of homes that went pending decreased significantly for a few months until it ended up rising above 2019 in August.

Buyers 45

Buyers Contracts Inventory Real Estate 45

Appraisal Today

SEPTEMBER 17, 2022

Excerpts: When adjusted for inflation, lot values are now close to the record levels of the housing boom of 2005-2006 when half of lots were valued over $43,000, which is equivalent to about $57,800 when converted into inflation-adjusted 2021 dollars. The average contract interest rate for 15-year fixed-rate mortgages increased to 5.30

Appraisal 52

Appraisal Construction Contracts Insurance 52

Lamacchia Realty

DECEMBER 28, 2021

For Massachusetts, I had predicted in my 2021 Predictions that it would be the biggest year for overall home sales since 2005 and even though the final numbers aren’t in yet, it looks like my prediction will be right on. It’s not just about how to protect the client with MLS disclosures and contingencies in the contract.

Sellers 74

Sellers Inventory Buyers Realtors 74