Empire Appraisal Group

FEBRUARY 29, 2024

Lusky, DigitalVision, Getty Images Source: [link] FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience – and more likely to say their earlier opinion, “agents are overpaid,” was wrong.

Sellers 78

Sellers Agents Real Estate Agent Real Estate 78

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.

Housing Market 523

Housing Market Marketing Real Estate Agent Real Estate 523

Housing Wire

JUNE 9, 2022

Interest rates jumped by more than 2 percentage points over the first quarter of 2021. Lenders saw the value of agency loans made at lower rates — in the 3% range — in 2021 and early January 2022 drop precipitously over the course of the first quarter. That bolt-like spike in rates put many mortgage lenders into crisis mode.

Marketing 381

Marketing Contracts Technology Mortgage 381

Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? The early '22 market is already showing it'll be as tight or tighter than the '20 & '21 markets, buyers are tossing off all constraints to "win" the beauty contest of buying a home. Appraisals below contract price will continue to be a challenge in 2022.

Contracts 98

Contracts Appraisal Sellers Buyers 98

Housing Wire

OCTOBER 13, 2022

The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond. trillion compared with 2021, according to estimates by Fannie Mae , Freddie Mac and the Mortgage Bankers Association (MBA).

Mortgage 370

Mortgage Marketing Buyers Sellers 370

Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. trillion and to nearly $9.3

Marketing 381

Marketing Investing Mortgage Investors 381

Housing Wire

JUNE 14, 2022

With mortgage rates now north of 6% and the stock market officially in bear territory, two of America’s most prominent real estate brokerages instituted large-scale layoffs and halted expansion efforts. in April 2021, to $4.51 How can brokers get ahead in a tight market? On Tuesday, the other shoe dropped.

Marketing 370

Marketing Real Estate Real Estate Agent Brokerage 370

Housing Wire

NOVEMBER 2, 2022

Despite new language in the Federal Open Market Committee statement that suggested a potential slowdown in curbing inflation, Federal Reserve Chairman Jerome Powell maintained a hawkish tone on raising the federal funds rates during Wednesday’s press conference. million in September 2021. million units from 6.18

Mortgage 404

Mortgage Sellers Contracts Buyers 404

Housing Wire

OCTOBER 23, 2023

According to Warner, the module that mentions commissions had just 138 views in 2020 and 2021, combined, among HomeServices’ 51,000 agents. Under questioning, Goffstein said that each agent has a contract that includes NAR rule clauses and that the contract also tells agents that NAR membership dues are needed by January.

Law 423

Law Agents Realtors Contracts 423

Housing Wire

SEPTEMBER 15, 2023

of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said. Home prices not expected to fall Home prices are high due to competition among buyers for limited inventory in the market.

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Buyers Mortgage New Listings Real Estate Agent 414

Listing Spark

JUNE 21, 2022

Unless you’ve been living underneath a rock, you have likely heard talks of a housing market bubble that could burst at any moment. Today, high amounts of homeowners equity and demand paired with an extreme shortage of inventory make for very different market conditions compared to the last crash. Hey, real estate fans!

Sellers 69

Sellers Housing Market Marketing Inventory 69

Housing Wire

JANUARY 20, 2023

housing market , we just experienced an event that most people never thought could happen. The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022.

Inventory 540

Inventory Housing Market New Listings Marketing 540

Lamacchia Realty

FEBRUARY 14, 2024

ARE YOU A "WANT-TO-BE" SELLER IN 2024? From low inventory levels to increasing mortgage rates , the real estate landscape has experienced a multitude of changes and challenges over the last several years, leaving many sellers wondering when the “right” time to list would be given current market conditions.

Sellers 65

Sellers Realtors Buyers Inventory 65

Housing Wire

OCTOBER 18, 2021

But on Monday the home listings giant called a timeout on purchasing homes through the end of 2021. Zillow will keep trying to sell existing home inventory, plus renovate and try to resell homes it has purchased under contract, according to a company press release. However, Zillow’s home purchasing is at “operational capacity.”.

Renovations 382

Renovations Real Estate Construction Contracts 382

Housing Wire

SEPTEMBER 28, 2021

annual gain for the year ending in July 2021, up from 18.7% from July 2020 to July 2021, which is up from the 18.5% increase recorded in June 2021. The tight market conditions that have fueled the skyrocketing prices are finally showing signs of loosening. “The The index showed a 19.7% a month prior. a month earlier.

Housing Market 477

Housing Market Finance Contracts Inventory 477

Housing Wire

OCTOBER 15, 2021

One-third of homes that went under contract had an accepted offer within one week of hitting the market, a new report from Redfin found. In addition, the number of homes that went under contract within two weeks of listing rose to 46% from 42% during the same period in 2020. points from a month earlier.

Contracts 397

Contracts Landlords Inventory New Listings 397

Housing Wire

OCTOBER 19, 2022

With the mortgage origination market forecast to downsize by 40% this year from 2021 and mortgage rates topping 7% in October, lenders big and small have laid off its employees across multiple rounds of layoffs. In 2021, non-depository institutions accounted for 64% of first-lien, owner-occupied, site-built home-purchase loans.

Mortgage 402

Mortgage Contracts Design Government 402

Housing Wire

APRIL 13, 2021

A new report from Redfin shows that homes listed midweek sell for an average of $1,700 more than homes listed on the weekend, based on homes sold above their list price from July 2020 through February 2021. Meaning, if a home listed for sale gets 100 views its first day on the market, it would get 61 views the day after a price drop.

Sellers 404

Sellers Buyers Real Estate Agent Real Estate 404

Housing Wire

NOVEMBER 13, 2020

In today’s red-hot market, you need a real estate agent who can get creative, play hardball in negotiations, and help you stand out from the pack in a bidding war. In today’s high-demand market , this question is critical. Is 2021 a good time to buy a house? Do I have to sign a contract and, if so, how is it structured?

Real Estate Agent 545

Real Estate Agent Real Estate Agents Contracts 545

Housing Wire

SEPTEMBER 22, 2022

The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years.

Inventory 450

Inventory Housing Market New Listings Mortgage 450

Housing Wire

JANUARY 2, 2023

These declines, of course, came after very strong price increases in late 2021 and the first half of 2022,” Craig Lazzara, the managing director of S&P DJI , said in a statement. Because most home sales take several months from contract to closing, the data likely includes some deals struck in June and July.).

Home Value 393

Home Value Housing Market Contracts Sellers 393

Housing Wire

OCTOBER 16, 2023

Up from 45% last year and a notable increase from 37% in 2021, the report also mentioned that this share of first-time homebuyers likely hasn’t been this high since 2010, when there was a first-time homebuyer tax credit. Rate buy-downs are another option I recommend in this market. It never will be. I’ll explain later.)

Agents 404

Agents Buyers Sellers Inventory 404

Housing Wire

FEBRUARY 18, 2022

months of supply; a healthy market generally has between four and six months of supply. Homes priced between $100,000 and $250,000 were down 23% from January 2021, while sales of homes priced between $750,000 and $1 million rose 33%. Homes went under contract in just 19 days on average, down from 21 a year ago. from a year ago.

Supply Chain 404

Supply Chain Inventory Buyers Contracts 404

Lamacchia Realty

JULY 6, 2021

EASY FIXES SELLERS CAN MAKE. Selling a home can take some time and while most home sellers are focused on making updates that will give them the most return, it is imperative that the small fixes aren’t overlooked. If the seller hasn’t tackled a small project, such as replacing the cover pates, what other big issues can’t be seen?

Sellers 69

Sellers Open Houses Buyers Realty 69

Housing Wire

NOVEMBER 1, 2023

“We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. Mortgage-origination volume between 2021 and yearend 2023, however, is projected to drop 63% — from $4.44 So, the deals aren’t as attractive to sellers. …We’ll

Mortgage 433

Mortgage Loan Officers Finance Buyers 433

Housing Wire

OCTOBER 12, 2022

trillion in 2021 and the 12.3 While the mortgage business has been profitable of late, the financial fortunes of originators large and small are tied to the inherent cyclicality of the mortgage market leading to natural episodic expansions and contractions. Behind the record setting mortgage origination volume of $4.4

Mortgage 401

Mortgage Technology Business Contracts 401

Appraisal Buzz

DECEMBER 27, 2021

The housing market was hotter than ever last year, with pandemic-driven demand boosting home sales to their highest level in 14 years. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. The appraisal industry faced a shortage of appraisers during the hot housing market.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

Housing Wire

FEBRUARY 12, 2024

Each week — for several months now — inventory levels of unsold homes on the market has been expanding compared to last year. There are still notably not a lot of sellers. But home sellers are gradually easing back into this housing market. But home sellers are gradually easing back into this housing market.

Sellers 418

Sellers Housing Market Buyers New Listings 418

Housing Wire

SEPTEMBER 23, 2022

HW Media : What do you think will be the big themes for the housing market in 2022-2023? But the truth is that the market is moderating, not imploding. And as the market moderates, I think we’ll see certain aspects of the industry follow suit. From 2020 to 2021, NAR membership increased by a massive 156,000 Realtors.

Real Estate Agent 370

Real Estate Agent Agents Real Estate Realtors 370

Housing Wire

FEBRUARY 15, 2024

On FHA endorsements for home purchase financing, approximately 40% included down payment assistance in both 2022 and 2023, while the share was roughly 30% in 2021. In addition, homebuyers might have to deal with sellers who are reluctant to sell their homes to DPA borrowers.

Mortgage 442

Mortgage Buyers Loan Officers Sellers 442

Lamacchia Realty

OCTOBER 13, 2022

Sellers and their agents use comps to help determine a proper list price for a property. Closed comparable sales, also known as ‘comps,’ are used to approximate market value for residential properties. Historically, in a balanced market, comps sold within six months were acceptable to use. Comps in the Post-COVID Market.

Marketing 70

Marketing Sellers Buyers Market Value 70

Housing Wire

MAY 10, 2022

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. In February, NAR in partnership with Realtor.com released The Double Trouble of the Housing Market report. For Asian Americans the rate is 61.7%

Housing Market 440

Housing Market Realtors Buyers Inventory 440

Housing Wire

JANUARY 27, 2022

Even though the cap was suspended in September of 2021, the wheels were already set in motion for larger lenders, particularly nonbanks, to convert their agency loan-sale pipelines to favor swap transactions with government-sponsored enterprises (GSEs) Fannie and Freddie. You have to get a different kind of contract.

Mortgage 368

Mortgage Investors Finance Contracts 368

Housing Wire

SEPTEMBER 30, 2020

” Kanacki’s market, like many others, remains competitive as buyers continue to experience bidding wars amid historically low housing inventory and an uptick in home prices. “I 20, the National Association of Realtors said that contract signings were up 23% year over year. Over the last four weeks ending on Sept.

Real Estate Agent 546

Real Estate Agent Real Estate Agents Realtors 546

Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. Concerned about a housing market crash? SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. KEY RESOURCES: Study Of How Previous Pandemics Affected The Real Estate Market.

Housing Market 68

Housing Market Marketing Real Estate Realtors 68

Cleveland Appraisal Blog

AUGUST 20, 2021

That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. Earlier in the year, I appraised a home to have a market value that was twenty-eight thousand dollars ($28,000) higher than the contract price. The seller will probably never know. The reason?

Appraisal 418

Appraisal Market Value Contracts Agents 418

Cleveland Appraisal Blog

OCTOBER 14, 2021

Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. Let’s talk about the difference between today’s market and the one during the years leading up to the bursting of the housing bubble in the Great Recession of 2008. Granted, mortgage rates were not terrible.

Inventory 243

Inventory Market Value Appraisal Contracts 243