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. USPAP and the Contract. Some appraisers do not like having a copy of the contract.

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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. You will be missed.

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Appraisal Today

JULY 1, 2022

Excerpts: Built in 2009, the home is has 8 bedrooms, 6.5 10) Buyers have more opportunities. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.84 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA remained at 5.62

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Appraisal Today

JUNE 10, 2022

The hangar was built in 2009, and the home was completed in 2014. These worsening affordability challenges have been particularly hard on prospective first-time buyers.”. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.40 2,821 sq.ft.

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Appraisal Today

JUNE 3, 2022

We’ve seen more luxury properties sell (larger homes) and buyers at higher price points (larger homes) have been taking advantage of being able to work from home. Most of all, we’re seeing buyers become more sensitive to price, location, and condition since affordability has taken such a beating lately. The O’Rourke forecast.

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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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Listing Spark

DECEMBER 15, 2022

How to qualify buyers so that you have a low default rate on owner financing deals. Why some buyers can’t qualify for more traditional financing. 00:05:38] How to qualify buyers so that you have a low default rate on owner financing deals. 00:07:03] Why some buyers can’t qualify for more traditional financing.

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Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

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Housing Wire

JULY 7, 2022

Most of our customers select four or five year terms, meaning that pricing cannot be arbitrarily changed for the duration of the contract, which is why so many of our lenders opt for longer terms. I believe that Black Knight contracts are similarly structured. . With so much uncertainty in the industry, why do this acquisition now?

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Quicken Loans

APRIL 12, 2021

That’s why many home buyers turn to foreclosed homes in hopes of getting more space in a better area and with a much lower price tag. Foreclosure purchases thrived in 2009-2010 when a recession-battered housing market hit its peak foreclosure rate. Many banks won’t sell directly to home buyers.

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Appraisal Today

AUGUST 25, 2023

The sellers custom built the home between 2007 and 2009, using high-end materials and finishes, including a wall of windows and 26-foot-high ceilings in the great room. This knowledge positions agents to market properties competitively and attract the right buyers. Added Kan, “The ARM share of applications increased to 7.6

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Appraisal Today

MAY 26, 2023

A three-year renovation, ending in 2009, converted the upper floors into the 7,000-square-foot penthouse. Some appraisers feel that lenders should not provide them with the purchase and sale contract. Then that contract does not serve to color, cloud, or otherwise bias a value opinion. We all know this is true. percent from 6.57

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Appraisal Today

FEBRUARY 9, 2024

Homebuilding has been on an upward trajectory since 2009 as builders have slowly climbed their way out of the hole caused by the Great Recession. That has made it hard for some individual sellers of existing homes to compete for buyers. The average contract interest rate for 15-year fixed-rate mortgages increased to 6.41

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Appraisal Today

JUNE 24, 2022

Excerpts: Before the announcements from Fannie and Freddie, it was anticipated that desktop appraisals would only be accepted for loans with a maximum of 80% loan-to-value ratio (LTV), where buyers were making at least a 20% down payment. percent – the highest since November 2008 and the largest single-week increase since 2009.

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Appraisal Today

MAY 20, 2022

It seems an inflection point occurred where we really noticed the effect of higher mortgage rates on buyers. Some buyers have backed off due to declining affordability, and others have become much more sensitive to price. Will buyers adapt to a new environment of higher rates, or will we continue to see fewer buyers playing the market?

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Will Springer Realtor

JULY 11, 2023

Home prices continued to confound buyers by climbing toward record highs as summer began. 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. from May to 3242 units – the highest monthly figure since last September.

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Patch of Land

OCTOBER 24, 2017

Allan Kleer, a Master Broker with ONE Sotheby’s International, says “Asia has recently started providing us with a new and strong source of buyers for luxury condominiums and larger investment properties. The median number of days from listing to contract were 41 days for single family houses, a 12.8% from last year. is down from 14.7%

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Will Springer Realtor

MAY 9, 2023

month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 There are many home options available to prospective buyers – including new construction offerings in buildings that opened during the pandemic. Kitchen and bath professionals are reporting 3.9-month And, opening this year, Graystone.

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Housing Wire

FEBRUARY 22, 2022

But homebuilders big and small continue to run into the same problems – building permits are on file, contracts with buyers are inked, but subcontractors often don’t show, and access to materials have led to longer build times and cost overruns. Currently, over 1.7 million homes are under construction, the highest level in decades.

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Supply Chain Construction Inventory Housing Market 535

Will Springer Realtor

JUNE 9, 2021

Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. Flood of buyers – As I noted last month , Millennials will fuel this housing market for at least a decade to come as about 4.5 range won’t last forever.

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Housing Wire

OCTOBER 5, 2020

economy into a recession and killed more than 208,000 Americans, the plan from the frontrunner in the presidential election is well-aimed to assist the only weak link in an otherwise booming the housing market: First-time buyers trying to scrape together a down payment. Now that the pandemic has plunged the U.S. Presented by: TMS.

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