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Re-thinking property tax reporting can help meet lenders’ need for speed

Housing Wire

In 2019, for example, one national lender reportedly spent $100 million to develop a digital platform that could originate and close transactions in eight days. As these companies examine critical operational workflows, the property tax reporting process often stands out as an opportunity for re-engineering.

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It hasn’t been this hard to buy an existing home in at least a decade

Housing Wire

That’s down from 19 of every 1,000 during the same period in 2019. Financial incentives, like reducing transfer taxes for home sellers and subsidizing major moves with tax breaks, would also add to supply.” Still, buyers are about 20% less likely to find that type of home than they were in 2019.

Inventory 308
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Mortgage rates continue to climb beyond 7%

Housing Wire

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). At today’s rate, the monthly cost to purchase a home totals about $2,400, not including property taxes and insurance, a 17% increase from a year ago.

Mortgage 358
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Institutional SFR players are stuck in the doldrums

Housing Wire

In California, as of December 31, 2019, defendant [Invitation Homes] owned 12,461 single-family homes in over 100 cities. “… By its failure to pay or remit inspection, permit fees, penalties and interest, Invitation Homes has defrauded cities and counties in California millions of dollars.”

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MINNEAPOLIS MULTI-FAMILY TRENDS – IMPACTS OF 2020

Simonson Real Estate

from 2019 to 3 rd Quarter 2020, including new properties still in the lease-up phase. annually from 2016 to 2019 slowed to a positive 1.2% He cited civil unrest several times and said buyers and sellers are seeing that as a larger issue compared to COVID-19. Vacancy in Downtown Minneapolis increased from 6.8%

Landlords 117
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Uncertain future, forgetting the past

Annarbor Appraisal

In June 2019 I wrote a piece about Ann Arbor for Mobility Magazine. Buyers, sellers, and the Realtors who work with them are adaptable, and some transactions have continued via virtual showings. Therefore, although there is still activity with some buyers and sellers who need to move, for the moment we are largely on hold.

Buyers 78
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Appraisals and Valuation Concerns in the Current Market

Simonson Real Estate

percentage point decrease from the share who paid rent through August 27, 2019 and compares to 93.3 As buyer expectations decrease, seller prices will also have to decrease if “normalized” real estate sales volumes are ever to be reached. Josh Folland , Senior Managing Director, Valbridge Property Advisors. This is a 1.9-percentage

Valuation 130