Housing Wire

JANUARY 13, 2022

million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009. ” According to the Fourth Circuit decision in March, plaintiffs are entitled to summary judgment on their claims for conspiracy and unconscionable inducement, but not for the claim regarding breach of contract.

Appraisal 418

Appraisal Law Valuation Home Value 418

Miller Samuel

FEBRUARY 12, 2019

The 10-year Challenge (2009 vs. 2019). Some analysts are even comparing the current cycle to the last downturn and the housing bubble in 2009, but Miller outlined quite a few differences between then and now. In 2009, the average discount from listing was 10.2%. And, in-turn, when the market falls, it will fall forever.

Marketing 221

Marketing Real Estate Appraisal Sellers 221

Housing Wire

DECEMBER 21, 2020

Steve Gottheim, who has been with ALTA since 2009, was promoted to general counsel. Hipp has been with ALTA for six years, and handled the management of a change in ALTA’s outside accounting firm, from developing the request for proposals to securing the contract.

Insurance 236

Insurance Government Advertising Legal 236

Appraisal Today

MARCH 22, 2024

acre lot, built in 2009 This elegant, Georgian mansion is said to be owned by a former executive with ties to the Grey Goose vodka fortune. The 24-room residence was custom built in 2009 and is loaded with exquisite finishes. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.89

Appraisal 65

Appraisal Contracts Business Insurance 65

Housing Wire

DECEMBER 20, 2021

To help the most vulnerable population, Tara Roche, research manager for the Pew Charitable Trust , said that HAF will be available to those who are using alternative financing, such as land contracts (agreements directly between sellers and buyers) and loans secured by manufactured homes.

Mortgage 353

Mortgage Government Contracts Insurance 353

Housing Wire

APRIL 14, 2022

When new MBS runoff-replacement contraction program will begin is not clear at this point. in 2009 to 1.9% Participants also generally agreed that the caps could be phased in over a period of three months or modestly longer if market conditions warrant.”. The FOMC’s next meeting is in early May.

Marketing 398

Marketing Investors Government Investing 398

Town & Country Residential Appraisals

JUNE 6, 2022

When making a decision to contract just about anyone to perform a service, one of the most important qualifiers for most is the experience one brings to the table. You really don’t want someone building your deck who has never built one before or replacing your transmission if they have never worked on cars.

Real Estate 50

Real Estate Real Estate Agent Valuation Appraisal 50

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. ==. USPAP and the Contract. Excerpt: But USPAP and the contract have a very unique relationship. Some appraisers do not like having a copy of the contract.

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Housing Wire

JANUARY 17, 2024

He left for Freddie Mac in 1995, where he was senior vice president of single family lending and led product development, credit risk and contract negotiations for all single family businesses.

Finance 471

Finance Loan Officers Real Estate Development 471

Housing Wire

JANUARY 27, 2023

Back in the 2007-2009 meltdown, we had loan officers with us at that time. After the 2008 mortgage meltdown, JVM let go of all its loan originators and trained its employees to target the jumbo loan market in the San Francisco Bay area instead.

Lending 386

Lending Real Estate Agent Loan Officers Retail 386

McKissock

AUGUST 9, 2021

After working for a time at a Chicago radio station, he got his first real estate job in 2009. Just because they’re going to DocuSign the contract doesn’t mean we shouldn’t go over the finer points over the phone. Mike McElroy has been in the real estate business for seven years. So he started his own brokerage.

Clients 96

Clients Real Estate Real Estate Agent Client Relationships 96

Housing Wire

JUNE 21, 2022

“Mortgage rates continued to surge last week, with the 30-year fixed mortgage rate jumping 33 basis points to 5.98% – the highest since November 2008 and the largest single-week increase since 2009,” Joel Kan, associate vice president of economic and industry forecasting for the trade group, said in a statement. the week prior. .

Mortgage 445

Mortgage Contracts 445

Appraisal Today

JULY 1, 2022

Excerpts: Built in 2009, the home is has 8 bedrooms, 6.5 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 with jumbo loan balances (greater than $647,200) decreased to 5.42

Appraisal 52

Appraisal Contracts Insurance Real Estate 52

Appraisal Today

JUNE 10, 2022

The hangar was built in 2009, and the home was completed in 2014. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.40 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,200) increased to 4.99

Appraisal 52

Appraisal Contracts Business Mortgage 52

Appraisal Today

DECEMBER 2, 2022

My personal comments: George called me before the first Appraisal Summit on December 9-11, 2009. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 6.49 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.57

Appraisal 80

Appraisal Agents Real Estate Real Estate Agent 80

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.

Construction 277

Construction Retail Mortgage Contracts 277

Lamacchia Realty

SEPTEMBER 20, 2023

Around 2009 all mortgage companies and regulators put a stop to it. If the closing cost credit exceeds the actual closing costs, technically, the parties would have to do an amendment to the contract and adjust the purchase price. That is no longer allowed. This enables the buyers to bring less money to closing.

Sellers 62

Sellers Buyers Property Taxes Inspection 62

Appraisal Today

JUNE 3, 2022

Mortgage Lenders – 1989: FIREEA and appraiser licensing, 2009: HVCC and AMCs took over. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.33 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 5.20

Appraisal 52

Appraisal Contracts Real Estate Marketing 52

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.

Inventory 361

Inventory Contracts Buyers Mortgage 361

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?

Modernization 408

Modernization Technology Investing Mortgage 408

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

Easement 52

Easement Contracts Appraisal Inspection 52

Listing Spark

DECEMBER 15, 2022

To ensure compliance, it’s important to get an under contract, verify income and down payment, and have the borrower go to an RMLO to get a full underwrite. So obviously you know, back in 2009 and 2010 when we started doing owner finance and the markets, you know, you couldn’t flip a house or anything.

Finance 36

Finance Investing Real Estate Lending 36

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. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.31 percent from 7.16 percent from 7.11

Appraisal 76

Appraisal Real Estate Agent Agents Real Estate 76

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. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.80 The VA share of total applications increased to 14.1

Appraisal 79

Appraisal Contracts Insurance Construction 79

Quicken Loans

APRIL 12, 2021

Foreclosure purchases thrived in 2009-2010 when a recession-battered housing market hit its peak foreclosure rate. This person will typically contract a local real estate agent to list the property on a Multiple Listing Service, which may include national online listing platforms and local real estate sites.

Inspection 54

Inspection Property Taxes Mortgage Investors 54

Appraisal Today

JUNE 24, 2022

percent – the highest since November 2008 and the largest single-week increase since 2009. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.98 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 5.62

Appraisal 52

Appraisal Contracts Mortgage Real Estate 52

Appraisal Today

MAY 20, 2022

Fewer pending contracts (big news): We’ve seen a dip in pending contracts over the past few weeks, which speaks to shifting demand. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.49 The average contract interest rate for 5/1 ARMs decreased to 4.42

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Patch of Land

OCTOBER 24, 2017

The median number of days from listing to contract were 41 days for single family houses, a 12.8% last year and a peak of 70% in 2009, according to the Miami edition of the World Property Journal. In July 2017, the Miami Association of Realtors reported a jump of 51.1% in sales of existing luxury condominium sales and a 9.6%

Real Estate 28

Real Estate Renovations Investing Investors 28

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 Four other residences have traded hands this year and two more are under contract for sale. Kitchen and bath professionals are reporting 3.9-month There are currently 10 residences on the market in the 267-unit, 4 th Avenue high-rise.

Real Estate 36

Real Estate Modernization Construction Supply Chain 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.

Housing Market 36

Housing Market Buyers Inventory Real Estate 36

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.

Supply Chain 537

Supply Chain Construction Inventory Housing Market 537

Will Springer Realtor

JUNE 9, 2021

More than 90% of builders in May reported shortages of appliances, framing lumber and other wood products: To address rising costs, some 47% of builders surveyed this spring say they are including price-escalation clauses in their sales contracts to avoid a deeper hit on their bottom lines. This 3-bed, 3.25-bath bath , 4522 sq.

Housing Market 36

Housing Market Marketing Inventory New Listings 36

Housing Wire

OCTOBER 5, 2020

Biden now leads President Donald Trump by 14 points among registered voters – 53% to 39% – in a survey taken after last week’s presidential debate and before Trump announced he had contracted COVID-19, according to a new NBC News/Wall Street Journal poll. That’s up from his 8-point lead in the prior survey before the debate.

Housing Market 421

Housing Market Contracts Buyers Marketing 421