Housing Wire

AUGUST 28, 2020

The products I’ve put into this category primarily help in converting leads, prospects and opportunities into contracts. Specifically, I’m talking about listing agreements and sales contracts. The first is listing tools – the products designed for you to convert potential sellers into listing contracts. Listing tools.

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Housing Wire

APRIL 7, 2023

compared to the week prior and the average contract interest rate for 30-year fixed-rate mortgages with loan balances of $726,200 or less, decreased from 6.48% to 6.45%. Let’s keep the 2008 market where it belongs — in the past. When this back and forth was unfolding, mortgage demand rose 2.9%

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Retail Real Estate Clients Modernization 388

Housing Wire

MARCH 26, 2023

With this new variable, I am looking at the economic data differently to see whether we get the credit contraction the Fed wants to see to stop inflation, or if they have the tools to keep the banking crisis at bay so the economy can expand, making their fight against inflation harder.

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Inventory Housing Market Marketing Mortgage 441

Eppraisal

MAY 12, 2021

This is a direct result of the historically low inventory of homes available for sale as buyers are competing for homes. Buyers are placing their best offers to get sellers to choose them. Buyers are even using escalation clauses with their offers to purchase a home. Buyer A would end up paying $313,000 if his offer is chosen.

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Birmingham Appraisal

JULY 7, 2022

These factors, as well as others, have an impact on home values because it affects buyer and seller behavior. If a buyer paid ‘X’ amount for a property similar to the one being appraised then other buyers will probably pay a similar price for the subject property.

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Appraisal Marketing Contracts Buyers 63

Birmingham Appraisal

MARCH 21, 2023

Over the past several years we had a big increase in demand due to buyers taking advantage of lower interest rates. Since the housing crash in 2008, there has been limited new construction of homes which has negatively impacted the amount of housing supply. When there are more buyers, but a limited supply, this can drive prices up.

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Real Estate Appraisal Marketing Market Value 83

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. percent from 7.07

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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. ==. The number of potential buyers will decrease as rates go up in many markets. Computer modeling did not predict the 2008 crash. USPAP and the Contract.

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Appraisal Today

JANUARY 19, 2024

An example of this in real estate appraisal is the purchase and sale contract. When a property goes under contract, that is an excellent sign of what the buyer and seller conclude the property is worth. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.46 percent from 6.81

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Appraisal Contracts Real Estate Architecture 74

Appraisal Today

MAY 10, 2024

In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. To read the Fannie document, Click Here My comments: What will happen to owners and buyers who cannot get insurance or whose costs will go way up? If buyers cannot get insurance or it is very expensive, it will affect value.

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Reconsideration of Value Appraisal Real Estate Insurance 71

Appraisal Today

MAY 17, 2024

For buyers, I tell them to look for these homes for sale. Bad: very few REO appraisals which kept appraisers busy during previous crashes, such as 2008. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.08 baths, 2,396 sq.ft., 3,000 sq.ft.

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Tools Appraisal Renovations Design 54

Housing Wire

MARCH 22, 2024

These rising costs are understandably impacting the ability or willingness of some buyers to purchase specific properties. We are seeing contracts fall through during the due-diligence period because of the sticker shock on insurance costs, so that is definitely a problem.” “It is definitely a significant concern and issue,” Smith said.

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Insurance Inventory Marketing Real Estate 411

Listing Spark

JUNE 21, 2022

The real estate industry has been experiencing some shifting trends lately, and when compared to the last crash, there are plenty of factors that make this time different from 2008. So, don’t panic if your home doesn’t have a contract in the first week or two of being on the market. . this April, up from 1.1 in the month of March.

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Sellers Housing Market Marketing Inventory 69

Listing Spark

OCTOBER 13, 2022

What should buyers and sellers be doing right now? How the housing market affects the rest of the economy How to approach the current housing market as a seller Final advice for buyers in the current housing market Are buyers pulling out of contracts at the last minute? Or are some doing better than others?

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Housing Market Real Estate Marketing Buyers 36

Appraisal Today

AUGUST 5, 2022

Is it headed for a crash like in 2008? Excerpts: Lending was not very prudent prior to the crash of 2008 as suggested by the trend in the median credit score (FICO), a measure for credit worthiness; for newly originated first-time purchase mortgages the median FICO score was 686 in Q1 2006 versus 740 in Q4 2020. Find out why not.

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Appraisal Valuation Contracts Modernization 59

Appraisal Today

SEPTEMBER 22, 2023

A buyer gets a seller’s disclosure statement for that information. Values are so high that buyers are putting a lot of money down to lower the monthly payment as much as they can. But buyers should note that prices have been rising even in these last bastions of modestly priced real estate. No appraisal required on those!

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Listing Spark

NOVEMBER 17, 2022

Many buyers are exiting the market because of higher rates. Despite rising rates, there are a lot of advantages that are coming into the market for buyers. So if you’re a buyer, how do you buy in the current market? What buyers can expect from mortgage rates based on the changing market. Episode overview.

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Real Estate Mortgage Buyers Sellers 36

McKissock

JANUARY 31, 2023

.” “That cost does not equal value on homes, and picking comparable sales just to hit contract prices is unethical. Sometimes a homes across the street are not the same pool of buyers as a home a block away, even if it is the same builder and floor plan. Because of where buyers want to live. That determines value.

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Housing Wire

JANUARY 27, 2023

After the 2008 mortgage meltdown, JVM let go of all its loan originators and trained its employees to target the jumbo loan market in the San Francisco Bay area instead. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan.

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Lending Real Estate Agent Loan Officers Retail 392

Appraisal Today

MAY 19, 2023

. = Appraisal Business Tips from Ann O’Rourke Why is the residential lender business so slow now, as compared with 2008? There were a lot of foreclosure appraisals starting in 2008. Also, in 2008 there were some direct lender opportunities as AMCs had not taken over completely. There are very few direct lender appraisals now.

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Appraisal Business Contracts Real Estate 52

Appraisal Today

MARCH 15, 2024

In previous downturns, such as during the 2008 recession, there were many foreclosures due to bad lending. Is this add-on a fair addition to the fundamental, intrinsic value a buyer gets? Is this add-on a fair addition to the fundamental, intrinsic value a buyer gets? This kept appraisers busy. Or is it something else?

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Appraisal Today

OCTOBER 20, 2023

million 3 bedrooms, 2 baths, 2,281 sq.ft, built in 2008, 21.23 “When certain keywords appear in a rising share of listings, it’s a signal that today’s home buyers may be gravitating toward those features,” said Amanda Pendleton, Zillow’s Home Trends Expert. percent from 7.67 percent from 7.70

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Housing Wire

AUGUST 24, 2023

However, persistently high mortgage rates pose a significant affordability challenge to buyers and sellers (not to mention the workers of a trillion dollar-plus industry). In July, 26% of existing homes sold to cash buyers while 7% of new homes sold to cash buyers. said Sturtevant.

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Housing Wire

JANUARY 19, 2024

It happened in 2008 and then didn’t happen again until 2023. Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. This is a positive for housing in 2024 as most sellers are buyers.

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Housing Market Inventory Contracts Marketing 460

Appraisal Today

FEBRUARY 17, 2023

Remember around 2008 when some AMCs went out of business owing appraisers lots of money? == Getting too many ad-only emails? Regarding our garage example, we might start with answering these types of questions: What have you observed about how buyer’s react to additional garages? percent of total applications from 33.9 percent from 6.18

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Real Estate Agent Real Estate Appraisal Agents 52

Town & Country Residential Appraisals

JANUARY 24, 2020

The financial collapse of 2008 was a prime example of what happens when various parts of the real estate machine stop functioning objectively and begin to “make deals work.” They always come in at exactly the contract price. If agents have done their job, then the contract price should be close to the market value.

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Appraisal Market Value Contracts Clients 36

Appraisal Today

DECEMBER 2, 2022

Counseling buyers, sellers, owners, and tenants on inspections and remediations, improvements, and the appraisal process. Counseling buyers, sellers, owners, and tenants about listing and offering prices, and market rent. I got it mostly for MLS access and have only done one sale, representing the buyer. Many thanks to George.

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Housing Wire

MARCH 7, 2022

Bidders were required to be cash buyers, or more precisely cryptocurrency buyers, or – more precisely still – have a virtual wallet on the Ethereum blockchain. Generally, listing agents extract a commission from the homeseller and then split it with the buyer’s agent. It represented LLC ownership of the property.

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Real Estate Law Inspection Agents 477

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 370

Appraisal Today

FEBRUARY 10, 2023

This increase is a sign that the recent upward trend in purchase activity remains skewed toward larger loan sizes and less first-time homebuyer activity, as entry level housing remains undersupplied, and buyers struggle with affordability in many markets.” The average contract interest rate for 15-year fixed-rate mortgages increased to 5.64

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Appraisal Contracts Architecture Mortgage 52

Appraisal Today

SEPTEMBER 23, 2022

This doesn’t mean every property is worth $45,000 less, but it’s been clear buyers have been resisting paying higher prices.”. Will we see smaller homes more often as first-time buyers flood the market? Work for buyer, seller, or both. Minus: Sometimes differences of opinion between buyer and seller. To be determined.

Appraisal 52

Appraisal Marketing Business Contracts 52

AmeriMac

MAY 24, 2022

Qualification begins with making sure an appraiser at least meets any applicable state or local requirements, and most AMCs also only contract with appraisers who have standard industry certifications and/or memberships. The segregation that AMCs provide came to light with the post-2008 Home Valuation Code of Conduct (HVCC).

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Housing Wire

SEPTEMBER 19, 2023

Buyers early in 2023 had slightly lower rates than now and were optimistic that mortgage rates would go lower still. This change in buyer expectations is adding to the slowness right now. There are 345,000 single-family homes in the contract pending stage. There was a psychology change for homebuyers in the late summer.

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Housing Market Marketing Inventory New Listings 441

Housing Wire

FEBRUARY 16, 2023

There is one simple reason for this: it’s not 2008. 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. Buyers have fewer choices than normal in the past eight years — but in reality, since 1982.

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Construction Housing Market Inventory Mortgage 516

Houston Properties

JANUARY 13, 2021

This highlights the importance of Avoiding the 9 Most Common Mistakes Buyers Make. In this analysis, we also show you current data along with key lessons from both the 2015 oil price crash and the 2008 great recession. Buyers Beware? Properties are still going under contract. Buyers Beware? There’s No Free Lunch.

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Housing Market Marketing Real Estate Realtors 68

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. percent, its highest level since mid-2008. Similarly, purchase activity was 29 percent lower than a year ago, with higher rates and economic uncertainty weighing on buyers’ decisions.”.

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Appraisal Inspection Easement Contracts 52

Housing Wire

MAY 31, 2022

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. Since its establishment in 2008, the firm said it has bought and sold about $12 billion in residential real estate. during the same time.

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