Housing Wire

MAY 4, 2022

The combination of these factors has some feeling 2008 déjà vu. A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing.

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Housing Wire

JANUARY 13, 2022

The Supreme Court weighed in on a class action lawsuit against Quicken Loans , now Rocket Mortgage , regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009.

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Housing Wire

NOVEMBER 14, 2022

Rate lock volume has dropped by more than 60% over the past 12 months as it struggles under the weight of high mortgage rates , which closed out October at 7.06%. Prioritizing home equity solutions in a rising rate environment. Amid the surging rates, the refinance market is nearing the bottom. Presented by: ServiceLink.

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Cleveland Appraisal Blog

OCTOBER 14, 2021

Others have expressed concerns that we are headed for a housing crash, like in 2008. Just as different types of leaven can be used to make bread rise, and even change the flavor of the bread, increasing home prices can result from different situations. THE RISE IN HOME PRICES IN THE YEARS LEADING TO 2008.

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Inventory Market Value Appraisal Contracts 243

Housing Wire

MARCH 27, 2023

At a time of high mortgage rates and inflation, the federal government — along with government-sponsored enterprises — is understandably under pressure to lower costs and make homeownership more accessible. Shortcuts to well-established processes do not end well — as the 2008 financial crisis demonstrated.

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Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. million homes bought and sold in the U.S. According to data from Statista , there were roughly 5.95 last year.

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Housing Wire

JUNE 10, 2022

Of course, the answer is about why this is not the same market — in any way — to post 2008. There are many reasons this isn’t like 2008: people are staying longer in their homes, aging in place and have more equity in their homes than 2008. HousingWire: What is the weirdest job you’ve ever had?

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Housing Wire

FEBRUARY 1, 2021

Auctions efficiently ensure the highest and best offer — good for the distressed homeowner, surrounding neighborhood and the mortgage servicer. Pre-foreclosure sales as a foreclosure alternative also benefit neighborhoods by limiting the volume of vacant properties, which drag down surrounding home values. Falling Short.

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Buyers Mortgage Marketing Home Value 406

Housing Wire

MAY 9, 2022

has its high-priced metro areas, our size and diversity mean that our national home price index won’t ever be driven by just two cities. housing market is more tied to mortgage buyers. We are a monster compared to them in population and the majority of homebuyers in America use mortgages. While the U.S.

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Buyers Housing Market Mortgage Marketing 529

Eppraisal

AUGUST 9, 2022

This was a similar story back in 2008. Back then the economy dove down into a deep recession and home values plummeted. Here are a couple key differences from the last Recession: Home Prices Still Increasing The past few years homeowners have been enjoying property value increases. Sound familiar? as of August 4th.

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Empire Appraisal Group

MARCH 16, 2022

When underwriting a mortgage, lenders typically require an in-person appraisal – an estimate of the home’s value – but many now also use algorithmic computer models. Overvaluing homes can lead to higher rates of foreclosure. An algorithm is a complicated math formula loaded into a computer.

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Housing Wire

JULY 25, 2023

However, data from CoreLogic shows that the number of homes built in the Very High Fire Hazard Severity Zone (FHSZ) has declined from 5.5% over the past 15 years, but building in Moderate FHSZ has nearly doubled since 2008, and while the fire risk in this zone is less severe, it is still present.

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Eppraisal

SEPTEMBER 22, 2021

There is a lot of buzz among the general public as to if and when there will be a real estate market crash like the one in 2008. According to an article on Bankrate.com, written by Jeff Ostrowski, "Mortgage rates plumbed to new depths in January 2021, setting all-time lows south of 3 percent." More people have equity in their homes.

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Eppraisal

APRIL 27, 2021

Qualify to Purchase a Home If you are thinking of purchasing a home, you must first be able to qualify for a mortgage. To qualify for a mortgage, you need steady employment and income. Interest rates are still historically low, so it's a great time to borrow money to purchase your first home. You need good credit.

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Eppraisal

JANUARY 17, 2023

Real Estate Investors by Default Some homeowners became investors in the years following the 2008 crash because they were underwater when it came to the value of their homes. Home values have increased by double digit percentages year-over-year over the past couple years. This happened practically by default.

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Zillow

JUNE 20, 2018

Getting a mortgage can be a breeze or a slog, depending on what you know about the process. To get organized and set your expectations properly, let’s debunk some common mortgage myths. Rates are tied to daily trading of mortgage bonds, so most lenders' rates change throughout each day. Lenders use your best credit scores.

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Housing Wire

DECEMBER 2, 2021

Back in October, a handful of nonbanks — PennyMac , Homepoint , United Wholesale Mortgage , and Rocket Mortgage — announced that they would all be upping their conforming loan limit to $625,000 for a one-unit property. According to the FHFA, single-family home prices in the third quarter jumped by 18.5%

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Cleveland Appraisal Blog

APRIL 29, 2021

Buying a property is not just about creating a home, it is making a long-term investment. Generally speaking, real estate is one of the most secure investments you can make, and bar any situations like the crash in 2008, you are pretty much guaranteed a constant increase in value and desirability. So, stayed tuned.

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Eppraisal

APRIL 21, 2023

Certainly, the failures of recent weeks do not compare to the largest in history: Washington Mutual Bank in 2008, when a bank holding $307 billion in assets was subject to $17 million in withdrawals by depositors within 10 days. What about banks like SVB and Signature, the failures of which are not so directly related to real estate?

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Appraisal Today

MAY 19, 2023

NOTE: Please scroll down to read the other topics in this long blog post on hybrid appraisals, business tips, UAD info from Freddie, Fannie modernization, non-lender appraisals, unusual homes, mortgage origination stats, etc. = There were a lot of foreclosure appraisals starting in 2008. I understand completely.

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Housing Wire

APRIL 12, 2024

For one, the mortgage servicing industry adopted some COVID-era, rescue-type packages where a house does not go into immediate foreclosure. But more broadly, since the Great Recession in 2008, there has been a greater implementation of standardized loss-mitigation measures designed to prevent a foreclosure crisis.

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Birmingham Appraisal

MARCH 21, 2023

Since the housing crash in 2008, there has been limited new construction of homes which has negatively impacted the amount of housing supply. Impact on Interest Rates Interest rates can also impact property values. This can lead to less competition which contributes to lower home values.

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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. ==. It looks like the change is starting because of increasing mortgage interest rates. Computer modeling did not predict the 2008 crash.

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Listing Spark

OCTOBER 13, 2022

In August, the median home value in the greater Austin metropolitan area was $496,000 and that’s up 5%. New listings are down 6%, so there are less homes coming onto the market than there were this time last year. In 2008, Austin and a lot of parts of Texas came out relatively unscathed.”. [00:08:58]

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Cornerstone

MARCH 12, 2021

A prospective home seller is looking at a great opportunity to sell rapidly and at a lucrative price. Low rates may lower a monthly mortgage payment, making now an ideal — and affordable — time to trade up or downsize. If there’s a surge of foreclosures, will home values start to decline?

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Appraisal Today

AUGUST 4, 2023

In a truly Orwellian move, mortgage giant Freddie Mac recently announced its intent to censor an arbitrary collection of words such as “desirable,” “safe,” “well-kept,” “student” and “crime” when they appear, in any context, in the hundreds of thousands of appraisal reports it relies on in mortgage underwriting. They really help.

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Housing Wire

MARCH 23, 2022

Year-over-year, new home sales were down 6.2% Though February’s new sales were below recent highs, builders are still selling homes at a higher seasonally adjusted rate than they did at any point between 2008 and 2019,” Zillow economist data analyst Dan Handy said in a statement. in February. after a 10.4% drop in January.

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Supply Chain Housing Market Buyers Construction 383

Birmingham Appraisal

JULY 7, 2022

These factors, as well as others, have an impact on home values because it affects buyer and seller behavior. The best way to price a home for sale is to use the most current sales and this includes some pending sales. If you keep up with the news there’s no doubt that you’ve heard we are in a recession.

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Appraisal Marketing Contracts Buyers 63

Appraisal Today

FEBRUARY 24, 2023

NOTE: Please scroll down to read the other topics in this long blog post – Bias, Cost cutting, slow business, unusual homes, mortgage origination stats, etc. However, Skapinetz theorizes that the business model of appraisers changed substantially after the 2008 real estate crash in a post Dodd-Frank and HVCC world.

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Housing Wire

SEPTEMBER 13, 2022

The increasing popularity of home-equity loans also is expected to help revitalize interest in aggregating HELOCS for residential mortgage-backed securities (RMBS) offerings, which have been nearly nonexistent since the 2008 global financial crisis, according to a recent HELOC-focused report by bond-rating firm DBRS Morningstar. “A

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Housing Wire

FEBRUARY 1, 2022

Morgan Mortgage Trust , the securitization conduit for financial giant JPMorgan , recently issued a $2 billion offering backed by a pool of jumbo loans — capping off a vibrant first month of 2022 for the overall private-label market. At least 25 transactions collateralized by more than 27,000 mortgages valued at $14.3

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Housing Wire

AUGUST 8, 2023

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation , a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 billion volume of the previous year, per the mortgage data platform Modex. And he hasn’t done so voluntarily. billion in 2022, down 41.3%

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Eppraisal

SEPTEMBER 20, 2021

Those preparing to reap that return have reason to be glad these days -- home values averaged $676,000 nationwide in June of 2021. Certain realities should be considered when setting expectations for the long-term values of residences. This development results in a lowering of overall demand and forcing home values down.

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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. The data below covers the “average Houston home.” Get a free home valuation for your house and trends in your neighborhood. In addition, mortgage rates are at an all-time low.

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Housing Market Marketing Real Estate Realtors 68

DW Slater Company

FEBRUARY 23, 2023

The past six months have been full of very drastic changes as the rapid mortgage rate increases causing many markets to begin to decline. Some may have a bit of PTSD from the 2008 Housing crash but just know that this is a different market with different factors impacting it. So what’s happening in the housing markets here?

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Inventory Marketing Supply Chain Appraisal 128

Lamacchia Realty

NOVEMBER 29, 2023

High-cost areas, where 115% of the median home value is higher than the loan limit, will rise to $1,149,825- last year was the first time ever that the limit exceeded a million dollars. The law mandated that the baseline could only rise after home prices returned to pre-recession levels. Additional Resources What Is a Buydown?

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Realty Law Home Value Government 68

Empire Appraisal Group

OCTOBER 28, 2021

Exuberant buying – with multiple offers and bidding wars – has become common across the country, reminiscent of the fevered market before the 2008 housing crash. Home prices nationwide increased year-over-year by 18% in July 2021, the largest annual growth that CoreLogic Home Price Index has measured in its 45-year history.

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