Cleveland Appraisal Blog

OCTOBER 14, 2021

Others have expressed concerns that we are headed for a housing crash, like in 2008. Let’s talk about the difference between today’s market and the one during the years leading up to the bursting of the housing bubble in the Great Recession of 2008. THE RISE IN HOME PRICES IN THE YEARS LEADING TO 2008.

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Inventory Market Value Appraisal Contracts 243

Cleveland Appraisal Blog

MAY 18, 2023

I was talking to a real estate agent recently who said that her sellers are scared about a significant downturn in the market and missing out on the higher values. 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.

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Inventory Real Estate Agent Appraisal Real Estate 333

Housing Wire

OCTOBER 1, 2022

The National Association of Realtors Research Group has produced the index since 2008, at a time of turmoil in the real estate market. As reported in the latest NAR Existing-Home Sales , inventory still remains in tight supply, which means homes are still moving at a fast past despite the recent rise in rates and home prices.

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Realtors Housing Market Marketing Buyers 386

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). Higher mortgage rates probably signal “a further contraction in home sales activity,” she added. “We

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Mortgage Property Taxes Investors Buyers 368

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. in April and 8% in May.

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Sellers Housing Market Marketing Inventory 69

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 70

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%

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Inventory Sellers Buyers Contracts 52

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.

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Tools Sellers Real Estate Contracts 240

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

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

Lamacchia Realty

JULY 26, 2023

Highlighted in this report are the average sale prices for single-family, condominiums, and multi-family homes in Massachusetts along with the number of homes listed for sale, placed under contract, and price adjustments. To learn more about inventory, click on the chart on the right. Number of Homes Sold Decreased by 24.8%

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Sellers Inventory Buyers Contracts 57

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

Cleveland Appraisal Blog

MARCH 18, 2021

With a shortage of inventory, it was not hard to imagine why this might be the case. Perhaps the sellers had a pool of buyers looking for homes to buy in this area. Therefore, my opinion of value was in the mid-sixties, which was far below the contract price. The MLS reflected it as a pending sale with zero days on the market.

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Appraisal Investors Buyers Market Value 195

Lamacchia Realty

JULY 22, 2022

Highlighted in this report are the average sale prices for single-family, condominiums, and multi-family homes in Massachusetts along with the number of homes listed for sale, placed under contract, and price adjustments. Pending Home Sales (contracts accepted). The number of homes placed under contract declined 13.7%

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Sellers Buyers Inventory Contracts 73

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. Some sellers are even asking buyers to waive appraisals. We haven't seen a seller's market like this in a long time. month-over-month.

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Sellers Real Estate Buyers Home Value 67

Will Springer Realtor

MAY 9, 2023

Falling new inventory is constraining transaction volumes while also supporting higher home prices. Where are all the sellers? A full 82% of sellers and buyers felt “locked in” by their current (low) mortgage rates, according to a survey released by realtor.com. The inventory may not be there, but the demand sure is.

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New Listings Inventory Buyers Sellers 59

Listing Spark

FEBRUARY 7, 2024

On the heels of the largest run up in home values in recorded history, we saw an abrupt and heavy shift that’s been challenging to grapple with for sellers and buyers. Days on market climbed, sellers’ became restless and our month’s supply of inventory finally started to grow. But who wants to trade in their 3.5%

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Real Estate Sellers Home Value Inventory 36

Lamacchia Realty

FEBRUARY 22, 2022

The 2021 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2021 compared to 2020 and illustrates what that means for the current market. It was also a clear rebuke of the theory that the Covid pandemic would cause a similar crash to 2008. That’s a 37.4%

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Inventory Sellers Buyers Real Estate 51

Lamacchia Realty

DECEMBER 28, 2021

The inventory of homes for sale and the number of homes being listed for sale were not nearly enough to satisfy the buyer demand. Even though the inventory of homes for sale at any given time all year stayed lower than ever, it did not decrease sales overall. 2021 Recap. Yes, you read that correctly, worse. It is a real problem.

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Sellers Inventory Buyers Realtors 74

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 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. Because of the lack of inventory sales volume has been down.

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Appraisal Marketing Contracts Buyers 66

Will Springer Realtor

SEPTEMBER 12, 2023

The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. Only buyers and sellers who must move are doing so. Inventory was little changed from July to August. months’ inventory, down from 1.5 Single-family-home inventory was unchanged at 1.4 It remained at 1.5

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Finance Inventory Construction Buyers 68

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? How to vet real estate agents as a seller.

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Housing Market Real Estate Marketing Buyers 36

Will Springer Realtor

MARCH 14, 2023

Unless the listed home is in a favorable location, priced competitively and move-in ready, activity has been somewhat muted as prospective buyers and sellers wait for economic conditions to improve. Sellers who priced their homes appropriately enjoyed busy open houses in their first weekend on the market followed by multiple offers.

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Marketing Buyers Inventory Sellers 36

Will Springer Realtor

JANUARY 10, 2023

Homes going under contract (Pending sales) dropped 25% from the previous month and by 30% year-on-year (YoY) – staggering drop-offs. The number of Pendings (1206) has fallen for five consecutive months and is the lowest of any month since December 2008 (1167). months of inventory, down from 2.2 Across King, there were 1.7

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Housing Market Marketing Inventory Real Estate 36

Listing Spark

NOVEMBER 17, 2022

Sellers are also willing to offer concessions. Here are different concessions sellers can offer to make their listing more competitive. 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.

Real Estate 36

Real Estate Mortgage Buyers Sellers 36

Appraisal Today

SEPTEMBER 22, 2023

A buyer gets a seller’s disclosure statement for that information. Tomorrow, I’m supposed to become a data scientist and try to decipher the value of a property I’ve never seen, bought and sold by buyers and sellers I’ve never met. I purchased a large house on the water with a dock in 1995 for $375,000 with 100% seller financing.

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Appraisal Training Inspection Real Estate 86

Lamacchia Realty

JANUARY 28, 2022

The drop in early 2020 sales due to low winter inventory and then the pandemic made it easier for 2021 to outperform in that time frame. Homes Pending (contract accepted) – All of NH. Its easy to see why inventory is so tight. Seller Resources. Multis increased by 26.6% and by 23.5% for sales and prices respectively.

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Buyers Contracts Inventory Real Estate 45

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

JULY 29, 2022

We’ve seen a massive change in housing inventory. But is it because sellers are rushing to list their homes? 1) The spike in housing supply is NOT due to sellers: In a short period of time, we went from having three weeks of supply in the Sacramento region to ten weeks. This is actually about fewer buyers getting into contract.

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Real Estate Agent Real Estate Appraisal Agents 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 71

Assurance Financial

NOVEMBER 9, 2021

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.

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Marketing Sellers Buyers Real Estate 36

Houston Properties

JANUARY 12, 2022

While no one ever thinks they’ll be forced to sell in a down market, very few people predicted 9/11 (2001), Great Recession (2008), the collapse of oil prices (2014), or Hurricane Harvey (2017). Why We're Fearful: Buyer & Seller Mistakes. Why We’re Fearful: Buyer & Seller Mistakes. "A Get PDF Now.

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Real Estate Marketing Real Estate Agent Realtors 36

Will Springer Realtor

MAY 13, 2024

Housing inventory nationwide flipped from oversupply to undersupply about a dozen years ago when consumers and the banking industry began to slowly rebound financially from the Great Recession. America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades.

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HOA Transportation Construction Buyers 36

Will Springer Realtor

JULY 11, 2023

The slippage in listings under contract – which is currently at the third-slowest annual pace this century (after 2008 and 2009) – is a barometer for future sales. Low inventory of existing homes for sale is pushing buyers toward new homes and the price of key building materials has started to ease. This is nothing new.

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Housing Market Buyers Inventory Real Estate 36

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. Avoid 9 Costly Mistakes Sellers Make. Properties are still going under contract. The market will see an influx of price drops and hikes due to low inventory and high demand. Need To Sell?

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Housing Market Marketing Real Estate Realtors 68

Will Springer Realtor

JUNE 9, 2021

Memories of the Great Recession still linger for anyone linked to the real estate industry – including the estimated seven million households that lost their homes to foreclosures around 2008-2010. One-tenth surveyed said they have added language to contracts that require buyers to share in the materials costs if they continue to rise.

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Housing Market Marketing Inventory New Listings 36

Will Springer Realtor

DECEMBER 13, 2022

Sellers, meantime, could put nearly any home on the market and expect a reaction of irrational exuberance from financially sound consumers submitting high-priced offers without buyer-favorable contingencies. That real estate party of unquenchable buyer demand against a backdrop of low inventory is over. and ease to 4.9% in 12 months.

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Real Estate Buyers Construction Sellers 36