Appraisal Today

AUGUST 5, 2022

Two percent of newly originated mortgages were originated to subprime borrowers, a sharp contrast to the 12% average seen between 2003-2007.”. While some buyers cannot afford the higher mortgage payments, other are choosing to stay on the sidelines in the face of heightened uncertainty in the stock market and the economy in general.

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Appraisal Valuation Contracts Modernization 59

Listing Spark

OCTOBER 27, 2022

The real estate market is ever changing for buyers, sellers, and investors. Should buyers still be staying in with current interest rates? We’ll dive into how the current real estate market is affecting buyers, sellers, and investors with Ellen Steele, a Realtor with ListingSpark that has had over $10M in sales in the last 12 months.

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Housing Wire

AUGUST 1, 2023

Even as mortgage rates rose, and affordability was pushed out of reach for many potential homebuyers, there are still sufficient buyers who can afford these prices and these rates. The number of buyers has been surprising. The median price of the homes in contract is $385,000. Both lines indicate about 70,000 contracts.

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Inventory Contracts Buyers Mortgage 361

Housing Wire

MAY 31, 2022

Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm. increase year over year for properties under contract, indicating that demand in the city remains strong,” said Elizabeth Anne Stribling-Kivlan, Compass’ senior managing director. during the same time.

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Housing Wire

FEBRUARY 16, 2023

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. If the homebuilders and homebuyers knew rates would hit 7% in 2022, many would not have taken those contracts they’re canceling now.

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Houston Properties

JANUARY 13, 2021

This highlights the importance of Avoiding the 9 Most Common Mistakes Buyers Make. Buyers Beware? Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007. Remember: real estate is hyper-local! Household Finances – The Best (Ever).

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Housing Wire

JANUARY 17, 2024

That’s a role those government-sponsored enterprises (GSEs) have not played since prior to entering into conservatorship in the wake of the global financial crisis of 2007-2008. That, in turn, should help to contract what has been an abnormally high spread and create some long-overdue persistent downward pressure on mortgage rates.

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Marketing Investors Mortgage Finance 374

GoForrmz

DECEMBER 5, 2022

The Electronic Signatures in Global and National Commerce Act, (E-Sign Act), was signed into law on June 30, 2000 , but it took until 2007 for the Federal Reserve Board to finalize and adopt the detailed rules and standards of legally binding, electronic signatures. Why is the E-SIGN Act so Important? ” — U.S.

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Appraisal Today

SEPTEMBER 30, 2022

in 2007-2008, few appraisers used them. But this is a massive deal for buyers in today’s market who are trying to afford a house. Similarly, purchase activity was 29 percent lower than a year ago, with higher rates and economic uncertainty weighing on buyers’ decisions.”. When I did them prior to HVCC etc. Excerpts: The 1.76-acre

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Lamacchia Realty

MARCH 26, 2024

Elevated condo association and special assessment fees present an additional financial burden for condo owners, deterring potential buyers unless the purchase price is reduced sufficiently to offset the higher ongoing monthly costs. Source Inventory rises when more sellers are listing than buyers are buying.

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Housing Wire

JULY 7, 2022

Most of our customers select four or five year terms, meaning that pricing cannot be arbitrarily changed for the duration of the contract, which is why so many of our lenders opt for longer terms. I believe that Black Knight contracts are similarly structured. . With so much uncertainty in the industry, why do this acquisition now?

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Appraisal Today

AUGUST 25, 2023

The sellers custom built the home between 2007 and 2009, using high-end materials and finishes, including a wall of windows and 26-foot-high ceilings in the great room. This knowledge positions agents to market properties competitively and attract the right buyers. Added Kan, “The ARM share of applications increased to 7.6

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Appraisal Today

DECEMBER 22, 2023

It’s a type of functional obsolescence in which the structure or one of its components is overly improved to a capacity or quality than a prudent buyer or owner would build or pay. Licensees have fallen from about 20,000 in 2006-2007 to under 9,000 now. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.41

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Appraisal Business Contracts Real Estate 75

Simonson Real Estate

JANUARY 25, 2022

Several brokers shared very strong demand exists from buyers. Buyers want to buy. Some are seeing significant capital contraction in rent control markets. From 1992-2007, permits were authorized for an average of 1,687 housing units/month across the Twin Cities. Will this strong market continue? Lenders want to lend.

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Appraisal Today

MAY 26, 2023

In 2007, he started appraising conservation easements, which are specified areas of land earmarked for environmental conservation. Some appraisers feel that lenders should not provide them with the purchase and sale contract. Then that contract does not serve to color, cloud, or otherwise bias a value opinion. percent from 6.57

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Easement Contracts Appraisal Inspection 52

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. Available Inventory.

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Marketing Sellers Buyers Inventory 66

Appraisal Today

OCTOBER 21, 2022

But what will happen in the future when buyers say they paid too much or lenders say the appraisal was too high or not USPAP compliant for appraisals you did in the past? It started in 2007 in Vacaville, near Sacramento, CA. My comments: Fun to look at but does it appeal to many buyers? You need coverage for those years.

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Appraisal Marketing Contracts Insurance 52

Assurance Financial

NOVEMBER 9, 2021

The key to getting the best possible value for your money is understanding what’s happening in your local real estate market — whether you’re a buyer or a seller. What’s the Difference Between a Buyer’s and Seller’s Market? Buyer’s vs. seller’s markets are a matter of supply and demand.

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Appraisal Today

NOVEMBER 17, 2023

Will Jazz Icon Dave Brubeck’s Former Midcentury Treehouse in NorCal Sway a Buyer for $3M? The proceeds from this sale go to the order of nuns to their general fund for them to continue their mission,” An order of Catholic Franciscan nuns bought the 4,625-square-foot property in 2007 and used it as their convent until they moved out recently.

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Will Springer Realtor

MAY 9, 2023

A full 82% of sellers and buyers felt “locked in” by their current (low) mortgage rates, according to a survey released by realtor.com. Pending sales – those listings that went under contract in April – rose 3.0% (2435) from March in King County. between May 2007 and January 2012. You can’t buy what’s not for sale!

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New Listings Inventory Buyers Sellers 58

Will Springer Realtor

JANUARY 11, 2023

Homes going under contract (Pending sales) dropped 25% from the previous month and 30% year-on-year (YoY) – staggering drop-offs. The First Hill sales presentation gallery is a good place to start the discovery phase for buyers interested in learning more, plus hard-hat tours are available for those more serious home-shoppers.

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Housing Market Architecture Contracts Buyers 36

Will Springer Realtor

OCTOBER 10, 2023

This is the season when buyers can take advantage of homeowners wishing to sell before the holidays and are showing a willingness to budge on price or make other concessions. At the same time, the number of homes going under contract (Pending sales) fell 11% (2087) for the month and 9.8% on the year.

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Houston Properties

JANUARY 12, 2022

Why We're Fearful: Buyer & Seller Mistakes. I’m A Buyer. Why We’re Fearful: Buyer & Seller Mistakes. "A The root causes of buyers overpaying are similar: Using an inexperienced agent (one with less than 6 transactions in total). This is the classic case of a buyer putting emotions over data.

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Real Estate Marketing Real Estate Agent Realtors 36

Will Springer Realtor

JULY 11, 2023

Home prices continued to confound buyers by climbing toward record highs as summer began. The slippage in listings under contract – which is currently at the third-slowest annual pace this century (after 2008 and 2009) – is a barometer for future sales. from May to 3242 units – the highest monthly figure since last September.

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Housing Market Buyers Inventory Real Estate 36

Will Springer Realtor

MAY 9, 2022

This looks a lot like the housing boom that we saw prior to the 2007–09 financial crisis.” That’s where buyers are paying about 42% more in their monthly mortgage payments for the same house today than they did a year ago. That percentage was last seen in September 2007 – yes, at the start of the housing crisis (as the chart shows).

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Architecture Design Buyers Construction 36

Will Springer Realtor

MAY 9, 2023

month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 years, according to recent data, when it was only about five years just before the housing market crash of 2007. Four other residences have traded hands this year and two more are under contract for sale.

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Real Estate Modernization Construction Supply Chain 36

Will Springer Realtor

OCTOBER 11, 2022

Waller went on to say this adjustment is in no way like the horrific housing/financial crises of 2007-2010. At least buyers will have more options and time to weigh their decision to purchase a home – but at what cost to the bottom line? The next 12-24 months are likely going to be quite a challenge for prospective buyers.

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Housing Market Marketing Buyers Real Estate 36

Will Springer Realtor

SEPTEMBER 8, 2021

That’s the most since 2007. The Institute outlined four ways innovative builders could accommodate the emerging buyer wants: Immersion into nature. Here’s a negotiating tactic that you may not have thought of: Sellers who “spy” on buyers when they are visiting the home. BY THE NUMBERS. >> Buyers secured 3.8 That’s fair.

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Construction Inventory Buyers Real Estate 36

Will Springer Realtor

MAY 12, 2021

Amid the challengers for buyers, there is an expectation for housing activity to continue puffing its Thomas the Tank Engine without a misfire – at least through early summer – before possibly lowering a gear. One of the reasons for the continued home-sales intensity – in any season – is a key group of “new” buyers. this year. >>

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Real Estate Inventory Buyers Construction 36

Will Springer Realtor

JUNE 9, 2021

Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. Flood of buyers – As I noted last month , Millennials will fuel this housing market for at least a decade to come as about 4.5 million for sale today.

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