Remove 2007 Remove Buyers Remove Contracts Remove Open Houses
article thumbnail

Price Adjustments in this New Housing Market

Lamacchia Realty

Now, months later, with rates up nearly 100% from the start of the year- January mortgage rates were hovering in the low to mid 3’s and this week reached 6.28%- diminished buyer affordability is causing a big downshift in demand. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.

article thumbnail

Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

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).

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Appraisers: How and Why To Check Carbon Monoxide Detectors

Appraisal Today

in 2007-2008, few appraisers used them. acre property complete with the castle and carriage house is on a riverbank. But this is a massive deal for buyers in today’s market who are trying to afford a house. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.17

article thumbnail

Price Adjustments in Florida Rise Rapidly

Lamacchia Realty

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.

article thumbnail

Appraiser Salaries

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on non lender appraisals, MLS hacked, appraisers and real estate agents, Humor, unusual homes, mortgage origination == Massive Missouri Lake Winnebago House for $12.6M This knowledge positions agents to market properties competitively and attract the right buyers.

article thumbnail

Buyer’s vs. Seller’s Market: How to Tell the Difference

Assurance Financial

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.

article thumbnail

Houston Real Estate Market Forecast: Current Data & 2022 Predictions

Houston Properties

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.