Housing Wire

NOVEMBER 3, 2023

With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. billion in commissions they paid to buyers’ agents in the past eight years.

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Real Estate Brokerage Buyers Property Management 306

Housing Wire

DECEMBER 7, 2020

The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. months, the builders are ok with construction as long as new home sales grow. Hard pass.

Inventory 545

Inventory Construction Government Housing Market 545

GoForrmz

OCTOBER 26, 2022

In 2021 , we saw houses receive multiple offers and sell for thousands of dollars over asking price within hours. From virtual tours to real estate apps, it now takes less time and effort to communicate between sellers and buyers. This means more competition at faster rates than ever before. That’s where we come in.

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Real Estate Contracts Clients Real Estate Agent 78

Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S. percent (±14.9

Construction 452

Construction Housing Market Inventory Buyers 452

Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. This highlights the importance of Avoiding the 9 Most Common Mistakes Buyers Make. Buyers Beware? Concerned about a housing market crash?

Housing Market 68

Housing Market Marketing Real Estate Realtors 68

Appraisal Today

APRIL 5, 2024

With shifts in existing and pending home sales, new home sales, construction activity, and economic indicators such as inflation and mortgage rates, appraisers are navigating a complex landscape. to 7% range for mortgage rates and anticipated fluctuations will significantly impact buyer affordability and demand. percent from 6.93

Appraisal 77

Appraisal Contracts Business Construction 77

Empire Appraisal Group

JANUARY 11, 2023

Existing-home sales are expected to end the year 16% down from the same time period in 2021, marking their lowest level since 2014, Yun said. But if inflation continues to slow and rates stabilize, that could bring more buyers back to the market and boost demand for housing, Yun said. NAHB: Sharp Contraction in Construction.

Real Estate 78

Real Estate Marketing Buyers Sellers 78

Eppraisal

NOVEMBER 30, 2021

Housing starts increased right along with home values in 2021. According to a release from census.gov on November 17, 2021, housing starts were 0.4 These national builders have a system in place for the buyers who purchase their homes. percent above the October 2020 rate. Horton, Lennar Corp., PulteGroup, NVR, and KB Home.

Contracts 36

Contracts Home Value Design Development 36

Will Springer Realtor

APRIL 14, 2023

“After nearly a year, the housing sector’s contraction is coming to an end,” notes Lawrence Yun, National Association of Realtors® chief economist, speaking about the U.S. Existing-home sales, pending contracts and new-home construction pending contracts have turned the corner and climbed for the past three months.” 

Contracts 36

Contracts Buyers Housing Market Design 36

Simonson Real Estate

JANUARY 25, 2022

I think we can all agree that 2021 was another year of great challenge and historic change. In this article, we will share the Twin Cities apartment market data from 2021 and give insights on what to expect in 2022. Apartment New Construction. 2021 was the fifth straight year of record apartment deliveries. Rent Growth.

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Marketing Construction Real Estate Lending 131

Appraisal Today

JANUARY 19, 2024

An example of this in real estate appraisal is the purchase and sale contract. When a property goes under contract, that is an excellent sign of what the buyer and seller conclude the property is worth. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.46 percent from 6.81

Appraisal 74

Appraisal Contracts Real Estate Architecture 74

The Robert Weiler Company

NOVEMBER 9, 2022

Consider your desired demographic of customers or renters and buyers and which amenities they would desire; attractions such as restaurants, malls, community centers, family parks, beaches, etc. Many buyers and renters worry about flood risk in today’s world. billion of new commercial real estate construction contracts in 2021.

Transportation 78

Transportation Real Estate Supply Chain Investing 78

DataMaster

JANUARY 15, 2021

Appraising in 2021. While we have no crystal ball, we will examine 2020’s real estate and make a foray into predicting what 2021 will do. Will appraising in 2021 be better or worse than in 2020? With all of this selling going on, appraising in 2021 will stay strong! Is this rate of selling sustainable for 2021?

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Appraisal Construction Business Real Estate 147

Housing Wire

JUNE 23, 2021

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. Supply-side challenges remained a persistent issue, with the count of new homes sold that had not started construction, up 76% over the last year.

Supply Chain 438

Supply Chain Construction Buyers Development 438

Appraisal Today

SEPTEMBER 22, 2023

A buyer gets a seller’s disclosure statement for that information. Values are so high that buyers are putting a lot of money down to lower the monthly payment as much as they can. I wrote an article in the June 2021 issue of Appraisal Today: Retirement, To Stay or Not to Stay. No appraisal required on those!

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Appraisal Training Inspection Real Estate 87

Appraisal Today

DECEMBER 8, 2023

The record comes as mortgage rates hover at elevated levels, hitting their highest level in 23 years last week and cutting deep into buyers’ budgets. That’s partly because sale-price data is a lagging indicator, reflecting deals that went under contract a month or two ago. Sale prices are still up 3% from a year ago. percent from 7.37

Appraisal 67

Appraisal Real Estate Contracts Design 67

Housing Wire

OCTOBER 26, 2022

percent) below the September 2021 estimate of 732,000. The builders will pull back on construction when the supply is 6.5 When rates rose back in March, there was a considerable risk to the business model with many homes under construction. months of supply is still under construction 2.1 This is 10.9 percent (±15.2

Construction 451

Construction Inventory Contracts Buyers 451

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. It’s fair to say that 2022 has been a depressing year for homebuilders.

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Supply Chain Construction Inventory Finance 372

Appraisal Today

NOVEMBER 3, 2023

18, 2021, and March 31, 2023, the OIG conducted an audit focusing on FHFA’s supervision of Fannie Mae’s and Freddie Mac’s use of desktop appraisals. The housing market, in particular, is witnessing remarkable dynamism, with limited housing stocks and escalating mortgage rates reshaping the paradigms for buyers and builders alike.

Appraisal 77

Appraisal Contracts Architecture Mortgage 77

Housing Wire

OCTOBER 18, 2021

The report is based on a monthly survey of NAHB members, in which respondents are asked to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes. This will spur more construction and help ease upward pressure on home prices.”.

Supply Chain 530

Supply Chain Inventory Buyers Housing Market 530

Housing Wire

OCTOBER 21, 2021

The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike Fratantoni, MBA SVP and chief economist said in a statement. decrease from August 2021. Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”. from a year ago.

Inventory 403

Inventory Buyers Realtors Contracts 403

Appraisal Today

OCTOBER 20, 2023

Fannie Mae Filed a Complaint Against Me October 18, 2023 Excerpts: In June of 2021, I completed an appraisal for a conventional purchase. Note: This update does not apply to newly constructed manufactured homes because these items must be present on all new units. The average contract interest rate for 5/1 ARMs increased to 6.52

Appraisal 72

Appraisal Design Contracts Inspection 72

Housing Wire

SEPTEMBER 12, 2023

The point of the editorial seemed to be to scaremonger over government programs to help home buyers and student loan borrowers. So, the author tried to use new construction prices from back in April to describe the whole U.S. Supply of homes for sale is very low, and most of the year we’ve had more buyers than sellers.

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Contracts Inventory Housing Market Buyers 385

Cleveland Appraisal Blog

MARCH 30, 2021

TODAY’S HOME BUYERS ARE LIKE THE CARP. Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. This year, it appears that buyer panic is even worse than last year. That is a lot of bread!

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Housing Wire

MAY 18, 2022

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home.

Mortgage 460

Mortgage Construction Contracts Housing Market 460

Housing Wire

FEBRUARY 25, 2021

But many would-be buyers have also been thwarted by comically low resale inventory, as well as supply chain constraints and escalating materials costs that have made life difficult for homebuilders. All four areas saw contract transactions increase from a year-over-year standpoint. Presented by: Fannie Mae. million in 2020.

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Supply Chain Inventory Housing Market Contracts 399

Housing Wire

JULY 25, 2022

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. in 2021, Freddie Mac reports. trillion in 2021,” the agency’s quarterly forecast states. Freddie Mac projects that home-price growth will average 12.8% trillion in 2022 and $2.3

Housing Market 393

Housing Market Marketing Supply Chain Real Estate 393

Housing Wire

JUNE 21, 2021

You set your appointments the night before, and when you get there that morning, they might already be under contract.” Generally, they go under contract in a day or two.” “We won’t renegotiate with you, and that seems to help buyers a ton.” It’s like a horse race.

Housing Market 424

Housing Market Marketing Realtors Inventory 424

Housing Wire

SEPTEMBER 14, 2022

Rapidly rising interest rates and skyrocketing home prices pushed many would-be buyers out of the market and tanked the refinance market,” the MAXEX report states. Contacts attributed the decline in sales to rising mortgage rates, coupled with high price inflation that crimped buyers’ budgets.

Construction 370

Construction Real Estate Inventory Supply Chain 370

Housing Wire

JANUARY 19, 2023

compared to 2021, according to a report released Thursday by U.S. Housing starts fell again in December, but there are hopeful signs that builders will see a boost in buyer traffic in the coming months and new housing construction may have bottomed,” Lisa Sturtevant, BrightMLS’ chief economist, said in a statement.

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Inventory Construction Development Housing Market 389

Appraisal Today

JULY 1, 2022

Excerpt: What’s the difference between a newly constructed home and a hundred-year-old home? 10) Buyers have more opportunities. Roughly 12% of listings in Provo and Boise had a price drop in May 2021, and it was around 20% in Salt Lake City, Sacramento and Ogden. I’m used to my local median prices at over $1,000,000!

Appraisal 52

Appraisal Contracts Insurance Real Estate 52

Appraisal Today

JUNE 10, 2022

Construction started in 2001 and took three years to complete with two bedrooms, 2 bathrooms, and a swimming pool. The rate environment of 2020/2021 is the biggest problem because it cleared out a vast majority of refi potential from the market. The average contract interest rate for 15-year fixed-rate mortgages increased to 4.62

Appraisal 52

Appraisal Contracts Business Mortgage 52

Will Springer Realtor

APRIL 10, 2024

Allegations of collusion to inflate compensation paid to both buyer and seller agents in transactions prompted this landmark settlement, estimated at a staggering $418M. This move, while aiming to “decouple” buyer and seller compensation, may inadvertently reduce transparency for consumers when reviewing home-sale listings.

Real Estate 36

Real Estate Buyers Sellers Insurance 36

Appraisal Today

MAY 19, 2023

The home was essentially hand-built from scratch, and it took two years to construct,” says listing agent Damian Hall, of Blackstream International Real Estate. Good video UAD Redesign the Movie (from 2021 but still relevant) I have written about this twice before in this newsletter. This version is comprehensive and easy to use.

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Appraisal Business Contracts Real Estate 52

Housing Wire

AUGUST 23, 2022

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. percent) below the July 2021 estimate of 726,000. This time, we have less production of homes and more multifamily construction. This is 12.6 percent (±16.9

Construction 370

Construction Housing Market Sellers Marketing 370

Housing Wire

FEBRUARY 23, 2021

Finally, lumber and other building materials are still scarce, forcing construction companies to delay projects and prevent an inventory build-up. Of course, this is all fantastic news for anyone looking to sell their home in 2021. December 2020’s 10.4%

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Inventory Finance Contracts Construction 432

Appraisal Today

APRIL 12, 2024

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, using new construction comps for existing homes, master planned communities, unusual homes, mortgage origination stats, etc. I was lucky to have never had to use new construction as a comp on an existing home. baths, 14,450 sq.ft.,

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Appraisal Construction Contracts Architecture 78