Remove 2008 Remove Contracts Remove Design Remove Mortgage
article thumbnail

Opinion: Here’s the latest data on what Realtors are witnessing in the housing market

Housing Wire

Mortgage interest rates have risen quickly in the past few months further eroding affordability. The National Association of Realtors Research Group has produced the index since 2008, at a time of turmoil in the real estate market. In 2008, 49% of Realtors had a client with a distressed sale, today it is only 1%.

Realtors 385
article thumbnail

Opinion: Applying lessons learned to adapt to a competitive market

Housing Wire

2022 and 2023 will not mirror the conditions of 2008 and beyond. But in combination with uncertainty about interest rates and the overall economy, the fact is that there will be industry contraction into 2023. I’ll begin by saying I don’t know anyone who believes 2022 or 2023 will look like 2008 or that era. Far from it.

Marketing 250
Insiders

Sign Up for our Newsletter

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

article thumbnail

What happens when borrowers have more control of the lending process?

Housing Wire

Through every financial transaction in a person’s life — whether a mortgage, auto, student or personal loan — there is one constant: the borrower. When the pandemic forced a shutdown of the economy, Congress gave blanket permission for any affected consumer to place their mortgage in forbearance,” Schwartz said.

Lending 400
article thumbnail

The last domino before a recession? Job losses

Housing Wire

Even though the builders are going to stop producing new single-family homes that aren’t already under contracted, they need to have the labor to finish the homes that have been started on or under contract and not started on yet. Job openings are over 11.2 Health of the economy? How does consumption get hit harder?

Contracts 464
article thumbnail

Common USPAP Appraiser Violations

Appraisal Today

During my term as an appraisal board member in my state, I encountered several cases in which a mixed-use property or commercial property was appraised as a residential property so a borrower could obtain a residential mortgage. Built in 2008, the luxury estate last traded hands in 2021 for $6,250,000. baths, 19,660 sq.ft.,

article thumbnail

Tools To Support Appraisal Adjustments

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on Geographic Data and Comps, effect of renovation on value, very low foreclosures now, current real estate market, unusual homes, mortgage origination stats, etc. = = $99.5M Bad: very few REO appraisals which kept appraisers busy during previous crashes, such as 2008.

Tools 64
article thumbnail

Fannie Files Complaint Against Appraiser

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post Modular Homes Data Plates, ADU income, Pickleball courts and other interesting home improvements, , unusual homes, mortgage origination and more! million 3 bedrooms, 2 baths, 2,281 sq.ft, built in 2008, 21.23 Forest Service on three sides.