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. Back then, terrible lending regulations, a surplus of inventory, and little to no equity for homeowners was a recipe for disaster. this April, up from 1.1

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Sellers Housing Market Marketing Inventory 69

Birmingham Appraisal

JULY 7, 2022

If the factors that affect this change are not taken into consideration when pricing a home for sale then the appraisal and the contract price may not line up. 6 Reasons Your Home’s Appraisal Value May Come In Lower Than The Contract Price In Today’s Market. Because of the lack of inventory sales volume has been down.

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Appraisal Marketing Contracts Buyers 63

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. ==. Today is NOT the same as 2008+, with its massive fraudulent loans made to unqualified buyers. Computer modeling did not predict the 2008 crash. 8-minute podcast.

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Appraisal Contracts Real Estate Mortgage 52

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. Escalation Clause Advantage An escalation clause is an addendum to a real estate contract that some buyers are using in this sizzling seller's market. month-over-month. by mid-2021 and end up 10.5%

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Sellers Real Estate Buyers Home Value 67

Housing Wire

JANUARY 19, 2024

It happened in 2008 and then didn’t happen again until 2023. Remember, with median sales prices and inventory, it’s very seasonal. However, remember, the dive in inventory is normal at this time of the year. Something notable about this report: Total active listings as the NAR tracks them almost broke under 1 million again.

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Housing Market Inventory Contracts Marketing 464

Housing Wire

OCTOBER 20, 2022

regions experiencing month over month contractions. Housing inventory also decreased last month, but just slightly, dropping from 1.25 Per the NAR, this drop in inventory was likely due, at least in part, to the seasonal inventory decline that typically occurs during December and January. million from 6.18

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Inventory Mortgage Contracts Realtors 393

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

Housing Wire

DECEMBER 7, 2020

For now, though, the low inventory means housing starts have legs to move higher. Existing home inventory is also at all-time lows. Existing home inventory is also at all-time lows. Unsold inventory sits at an all-time-low 2.5-month Keep this rule of thumb in mind for the future, below 4.3 Existing Home Supply.

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Inventory Construction Government Housing Market 545

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

AUGUST 4, 2023

However, high mortgage rates and limited affordable inventory keep exerting pressure on potential homebuyers. Unless there are improvements in affordability and inventory, the market dynamics will likely stay consistent. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.85

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Appraisal Business Contracts Real Estate 70

Listing Spark

OCTOBER 13, 2022

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? There is more inventory available and home sales are down. How to vet real estate agents as a seller. It was crazy.

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Housing Market Real Estate Marketing Buyers 36

Housing Wire

OCTOBER 12, 2022

“Due to the minimal use of adjustable-rate mortgages (ARMs), teaser rates and exotic mortgage products, relatively few current single-family borrowers are subject to payment shocks from rising interest rates in the way many borrowers were in 2006-2008,” the ESR group said. contraction in real GDP in 2023.

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Contracts Modernization Housing Market Mortgage 414

Appraisal Today

MAY 10, 2024

In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. Appraisers must consider broader economic indicators, such as inflation rates and GDP growth, in tandem with localized market conditions, including inventory levels and median price changes, to provide accurate and timely valuations.

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Reconsideration of Value Appraisal Real Estate Insurance 69

Appraisal Today

SEPTEMBER 22, 2023

I sold my big house in March 2008. Purchase applications increased for conventional and FHA loans over the week but remained 26 percent lower than the same week a year ago, as homebuyers continue to face higher rates and limited for-sale inventory, which have made purchase conditions more challenging. percent the previous week.

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Appraisal Training Inspection Real Estate 85

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. Let me be honest here: we got lucky as a country.

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Construction Housing Market Inventory Mortgage 519

Housing Wire

AUGUST 1, 2023

The median price of the homes in contract is $385,000. There are now 376,000 single-family homes in contract. Maybe by Q4, we’ll have more homes in contract than there were at the end of 2022. The count of new contracts this week was just over 68,000 single-family homes. Both lines indicate about 70,000 contracts.

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Inventory Contracts Buyers Mortgage 370

Housing Wire

DECEMBER 13, 2022

Fraud risk continues to rise even as the market contracts . Back in 2008 there were 8 million job losses in a single year,” Yun said. Yun also noted the difference in inventory conditions today compared to 2007 and 2008 when there were about 4 million homes on the market.

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Realtors Mortgage Housing Market Real Estate 404

Appraisal Today

OCTOBER 20, 2023

million 3 bedrooms, 2 baths, 2,281 sq.ft, built in 2008, 21.23 Purchase applications were 21 percent lower than the same week last year, as homebuying activity continues to pull back given reduced purchasing power from higher rates and the ongoing lack of available inventory. The Unique Mountain House in Nevada City, CA listed for $3.3

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Appraisal Design Contracts Inspection 70

Housing Wire

SEPTEMBER 19, 2023

Meanwhile, the available inventory of unsold homes is growing. This week, inventory grew faster than it did last year at this time. This week was the biggest week of inventory increase all year, with inventory growing by over 9,000 single-family homes. Last year, inventory climbed dramatically for months.

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Housing Market Marketing Inventory New Listings 442

Housing Wire

DECEMBER 20, 2022

If you look back, the macroeconomic stuff is tied back to the fact that when COVID initially hit it slowed things down even further and this is after we were already trying to catch up from the significant downturn in 2008, so there is so much more demand than there is supply today.

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Supply Chain Construction Inventory Finance 382

Housing Wire

FEBRUARY 21, 2023

Affordability constraints and tight inventories will continue to limit home sales and the 10-year Treasury has moved up meaningfully since the completion of our interest rate forecast, suggesting mortgage rates will soon be back on the rise,” according to the ESR group. for the next year. trillion in 2023 and $2.03 trillion in 2022.

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Inventory Mortgage Housing Market Contracts 382

Housing Wire

AUGUST 24, 2023

Higher mortgage rates probably signal “a further contraction in home sales activity,” she added. “We However, the big difference between the financial crisis of 2008 is that the current higher-rate environment is not sending home prices down, and other factors have kept inventory close to historic lows.

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Mortgage Property Taxes Investors Buyers 370

Patch of Land

OCTOBER 16, 2018

First, Richard Moody, the Chief Economist for Regions Financial, told MarketWatch that despite having passed the cyclical peak of existing home sales, the housing inventory has been shrinking for years. If that’s the case, I think what it might do is cause inventories to rise modestly and home price growth to slow.

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Investing Inventory Housing Market Contracts 45

Listing Spark

NOVEMBER 17, 2022

Why the 2008 housing crisis is different than what’s going on in the market today. Pre-2008, there were less qualifications to obtain those mortgages. Contingency contracts. 00:33:50] Why the 2008 housing crisis is different than what’s going on in the market today. Connect with Aaron Jistel on LinkedIn.

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Real Estate Mortgage Buyers Sellers 36

Cleveland Appraisal Blog

MAY 18, 2023

The agent went on to mention that many people she knows would like to sell their home but are afraid of not finding another one because inventory levels are so low. And I found sales that supported the contract price that had sold within the past month. We’ve had under two months of inventory for the past couple of months.

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Inventory Real Estate Agent Appraisal Real Estate 333

Housing Wire

MARCH 17, 2022

In fact, considering the drop in builders’ confidence, now we have to watch for whether some people will cancel their building contracts because rates have jumped so much while they’ve been waiting for their new home to be built. Authorizations of units in buildings with five units or more were at a rate of 597,000 in February.

Construction 457

Construction Housing Market Inventory Buyers 457

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. According to MBA’s Quarterly Performance Report (QPR), net production income has averaged 54 basis points since 2008. By comparison, we are forecasting total volume of about $2.3

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Lending Mortgage Real Estate Loan Officers 382

Lamacchia Realty

JANUARY 25, 2024

It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. A year later, still no crash, which had more to do with the decrease in inventory than the decrease in sales. The number of homes placed under contract (pending), decreased by 17.7% A lot of it had to do with anemic inventory.

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Inventory Sellers Contracts Buyers 69

Houston Properties

JANUARY 13, 2021

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. Properties are still going under contract. We expect a nationwide drop in home values as home inventory continues to shrink and we start to feel the economic impact of last year’s mishaps.

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Housing Market Marketing Real Estate Realtors 68

Lamacchia Realty

JANUARY 25, 2024

This scarcity in inventory exerted upward pressure on prices, although it coincided with a 19% decline in sales. Despite this decline, motivated buyers were out there trying to secure a home while also trying to navigate lower affordability and low inventory. Average prices for closed sales increased by 7.2% Sales Decline by 18.9%

Inventory 52

Inventory Sellers Buyers Contracts 52

Cleveland Appraisal Blog

MARCH 18, 2021

With a shortage of inventory, it was not hard to imagine why this might be the case. Therefore, my opinion of value was in the mid-sixties, which was far below the contract price. What if my appraisal report, mysteriously came in at the same price as the contract price? . The property was now being sold in the mid-nineties.

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Appraisal Investors Buyers Market Value 195

Appraisal Today

MAY 26, 2023

The fraud started in 2008, one year after Roberts became a licensed appraiser, according to court documents and statements. From 2008 to 2019, Roberts fraudulently inflated the value of at least 18 different easements by violating industry norms and making false statements. Let’s take a look at it from basically both sides.

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Easement Contracts Appraisal Inspection 52

Lamacchia Realty

JANUARY 30, 2024

The 2023 South Florida real estate market, like national trends, saw a decrease in sales, an increase in prices, and a decrease in the number of homes listed and placed under contract. Unlike what the Northeast experienced, South Florida inventory is up over 2022 and the second half of 2021. South Florida Sales Decline by 17.5%

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HOA Inventory Buyers Contracts 49

Lamacchia Realty

APRIL 15, 2022

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. Low rates, even lower inventory, maxed out demand, and anemic supply remained the name of the game for well over a year until this past winter, when it truly plunged to incredible lows.

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Marketing Sellers Buyers Inventory 66

Appraisal Today

MAY 12, 2023

If not working use this link [link] An oldie from 2008 but a goodie ;> A blast from the past, pre-HVCC!! Remember what it was like during the crash after 2008, when there were very few loans, and appraisal volume severely declined? The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.41

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Appraisal Architecture Business Contracts 52

Lamacchia Realty

JUNE 10, 2022

For the first time in years inventory is at the same level as the year prior as depicted in the chart above, and single families are higher as depicted in the chart below. The informed consumer should not be misled into thinking that this means we’re going to endure a major housing correction or 2008-like scenario.

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Marketing Sellers Buyers Inventory 62

Appraisal Today

JULY 29, 2022

We’ve seen a massive change in housing inventory. This is actually about fewer buyers getting into contract. In previous price declines, such as 2008, the percent decline varied significantly. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.74

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Real Estate Agent Real Estate Appraisal Agents 52