2007 Buyers Contracts Sellers 
Appraisal Buzz
MAY 17, 2021
During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up.
Lamacchia Realty
JUNE 21, 2022
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.
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Listing Spark
OCTOBER 27, 2022
The real estate market is ever changing for buyers, sellers, and investors. Should you be offering concessions if you are a seller? Should buyers still be staying in with current interest rates? As the market shifts back to the buyers, sellers are having to make more concessions. powered by Sounder.
Appraisal Today
JULY 21, 2023
This likely has to do with the cost of building a pool, cost of maintaining a pool, and even larger parcels at higher ranges – not to mention buyers at higher price points expecting a pool more often. In contrast, pools hardly exist in some locations, so it’s less of a factor because buyers don’t expect a pool. Listed for $42.5
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.
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.
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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