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How Andrew Marquis plans to close more loans in a low-inventory market  

Housing Wire

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. The inventory put a cap on how much business Marquis’ team can do, which is one of the reasons why Marquis is now licensed in 22 states. In our market here in Boston, we have incredibly low inventory.

Inventory 366
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Bidding wars – the scourge of buyers – slowed in August

Housing Wire

of offers written by Redfin agents faced a bidding war, down from the peak in April of 74.3%, and below the August 2020 bidding war rate of 59.4%. The report attributes this decrease to the normal seasonal slowdown, causing the shortage of inventory to slow as well. of offers written by Redfin agents facing competition in August.

Buyers 466
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Redfin: Bidding wars drop slightly in June

Housing Wire

bidding-war rate Redfin saw in June 2020, when the housing market was starting to rebound from a temporary standstill triggered by pandemic shutdowns, said Laura Sechrist Molenda, a Redfin real estate agent based in Southern California. In 2018-2019, total housing inventory was in the range between 1.52

Inventory 511
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Why is the El Paso housing market so hot right now?

Housing Wire

But the virus has had anything but a negative impact on real estate in El Paso. According to multiple real estate agents and mortgage brokers, low interest rates and a high percentage of “essential” jobs in their town has kept the housing market and local economy strong. Interest rates were so low, at 2.5%

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Share of Black first-time homebuyers falls to 3%

Housing Wire

The National Association of Realtors (NAR) released a report on Friday that found 88% of all first-time homebuyers in the U.S. Lautz said she is not surprised by the record -ow number of first-time buyers, attributing the reasons to housing affordability, high home prices, rising interest rates and lack of home inventory.

Buyers 386
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Appraising Well in a Fast-Changing Market

Appraisal Buzz

I started thinking about this when I saw the news coming from the National Association of Realtors about how far the current real estate market is out of balance. months less than what it was in 2019. Why inventory levels matter to appraisers. This month’s supply measurement remains 0.9

Appraisal 370
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Realogy stays profitable, laments mortgage

Housing Wire

billion in quarterly revenue, but the vast majority of that is from home sale commissions, which largely are returned to the company’s independent contractor real estate agents. Despite the acute inventory shortage, the National Association of Realtors estimated this week that 5.6 Realogy generated $1.6

Mortgage 351