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.

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Sellers Agents Real Estate Agent Real Estate 78

Housing Wire

OCTOBER 12, 2022

It’s no coincidence that the post-2008 crisis mortgage expansion happened to occur during a period marked by transformative technological change in the industry. Most people outside of the mortgage industry are not even aware that one of the largest mergers between mortgage technology firms is on the verge of taking place.

Mortgage 376

Mortgage Technology Business Contracts 376

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. 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.

Mortgage 366

Mortgage Marketing Buyers Sellers 366

Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? Appraisals below contract price will continue to be a challenge in 2022. Consider, appraisals this year will be using data from the already insane market of 2021 and many will still fall below contract.

Contracts 98

Contracts Appraisal Sellers Buyers 98

Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

Mortgage 381

Mortgage Contracts Design Government 381

Housing Wire

MARCH 27, 2023

But with the tech sector in turmoil, a looming recession, and consistently elevated mortgage rates, that trend is now making an about-face. in early 2021, the Texas tech hub has been impacted by tech layoffs, dwindling tech stock values and unsustainable high home prices. Sellers are locked in because they can’t justify giving up a 2.9%

Housing Market 355

Housing Market Marketing Contracts Buyers 355

Housing Wire

JANUARY 20, 2023

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. from December 2021 ($358,800), as prices rose in all regions. from November but up 10.2% months in Nov.

Inventory 540

Inventory Housing Market New Listings Marketing 540

Housing Wire

FEBRUARY 15, 2024

They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). They come in the forms of grants, second mortgages, deferred loans and forgivable loans. said Michael Ullmann, a producing branch leader at Movement Mortgage.

Mortgage 441

Mortgage Buyers Loan Officers Sellers 441

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 64

Sellers Realtors Buyers Inventory 64

Housing Wire

JUNE 9, 2022

Interest rates jumped by more than 2 percentage points over the first quarter of 2021. That bolt-like spike in rates put many mortgage lenders into crisis mode. 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.

Marketing 371

Marketing Contracts Technology Mortgage 371

Housing Wire

SEPTEMBER 22, 2022

Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. 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. . months in August 2021.”.

Inventory 447

Inventory Housing Market New Listings Mortgage 447

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. Credit repair and management tactics A healthy credit score secures a favorable mortgage rate.

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Agents Buyers Sellers Inventory 397

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Buyers 364

Buyers Sellers Finance Contracts 364

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. In addition, homebuyers are continuing to enjoy low mortgage rates , boosting the demand for homes even higher. The index showed a 19.7% a month prior. a month earlier.

Housing Market 477

Housing Market Finance Contracts Inventory 477

Housing Wire

NOVEMBER 13, 2020

Choosing a real estate agent who already has 10 buyers and five sellers probably doesn’t bode well for your home search. Is 2021 a good time to buy a house? Do I have to sign a contract and, if so, how is it structured? You should also find out what the agent’s contract looks like. More for Real Estate Enthusiasts.

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Real Estate Agent Real Estate Agents Contracts 545

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” 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. over asking price.

Housing Market 510

Housing Market Marketing Real Estate Agent Real Estate 510

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. And they sell faster, too. Presented by: Propertybase. ” Redfin also looked at specific markets when studying midweek sales.

Sellers 404

Sellers Buyers Real Estate Agent Real Estate 404

Housing Wire

APRIL 17, 2023

Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up. It is a solid seller ’s market with an Altos Market Action index score of 54. “We

Housing Market 368

Housing Market Marketing Inventory Buyers 368

Housing Wire

DECEMBER 23, 2022

The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. The run-up in home prices was driven by rock-bottom mortgage rates and pandemic-fueled demand. Average mortgage rates jumped above 7% in November and have settled around 6.5%

Housing Market 378

Housing Market Marketing Inventory Buyers 378

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 383

Home Value Housing Market Contracts Sellers 383

Appraisal Buzz

DECEMBER 27, 2021

Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Five months later, the frequency increased to 19%, leaving homebuyers to either pay more out of pocket or request the seller to lower their asking price. of homes are valued lower than the contract price.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

Housing Wire

FEBRUARY 18, 2022

from December and mortgage rates shot up 30 basis points. 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. “While the 6.7 “While the 6.7

Supply Chain 404

Supply Chain Inventory Buyers Contracts 404

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. But mortgage rates increased faster than at any point in history. in April 2021, to $4.51

Marketing 370

Marketing Real Estate Real Estate Agent Brokerage 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

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Marketing Investing Mortgage Investors 370

Housing Wire

JANUARY 27, 2022

Use of the cash window for delivering mortgages to Fannie Mae and Freddie Mac was disrupted in a big way over the course of last year as lenders reacted to expectations that a cap on cash transactions was slated to go into effect by the start of 2022. You have to get a different kind of contract. Fannie does not. …We

Mortgage 348

Mortgage Investors Finance Contracts 348

Listing Spark

JUNE 21, 2022

New Loan Applications: Mortgage applications hit the lowest rate in 22 years on the first week of June. The good news for sellers is that the Texas median list price is up over 18% YOY. So, don’t panic if your home doesn’t have a contract in the first week or two of being on the market. . Well, the data doesn’t lie. SOURCE: St.

Sellers 69

Sellers Housing Market Marketing Inventory 69

Housing Wire

MAY 10, 2022

While the report was released in February, a new trouble of the housing market has emerged: the rise in mortgage rates. This report provides critical information on a state level in the very first section: homeownership rate by race, the denial rate of mortgages, and how cost burdened renter households are.

Housing Market 422

Housing Market Realtors Buyers Inventory 422

Realtor

JULY 13, 2021

In our current seller’s market, the national inventory of active listings is down 43.1% year over year, according to the Realtor.com June 2021 Housing Market Trends Report. They’re making sky-high offers and writing heartfelt letters to sellers about why they should get the house. Mold remediation.

Inspection 203

Inspection Real Estate Agent Real Estate Buyers 203

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Don’t drink the Kool-Aid that any contract price is reflective of market value. Granted, mortgage rates were not terrible. 30-Year Fixed Mortgage Rates from 2000 to today. TODAY’S RISING HOME PRICES.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Housing Wire

DECEMBER 20, 2021

While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage. mortgage for 12 months, and the county where he lives paid three months of his mortgage bill as part of an assistance program. in November 2021, down from 14.8%

Mortgage 345

Mortgage Government Contracts Insurance 345

Housing Wire

SEPTEMBER 22, 2021

HousingWire recently spoke with Bill Dallas, President of Finance of America Mortgage, to discuss how brokers can leverage technology to accommodate today’s average homebuyer. As of August 2021, more than 10.2 For brokers, working with these borrowers can be complicated because they require unique processes.

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Finance Technology Lending Mortgage 370

Housing Wire

NOVEMBER 3, 2023

The lawsuit, which was originally filed in 2019 and won class-action status in April, alleges that some NAR rules, including one that requires listing brokers to offer buyer brokers a commission to list a property in a Realtor-affiliated MLS, violate the Sherman Antitrust Act by inflating seller costs.

Real Estate 306

Real Estate Brokerage Buyers Property Management 306

Eppraisal

OCTOBER 19, 2021

In fact, according to the National Association of Realtors, "94% of metro areas saw double-digit price growth in the second quarter of 2021." Buyers are offering sellers prices considerably above list price in many cases. It's their job to protect the mortgage companies' investments. This is more typical in a buyer's market.

Appraisal 66

Appraisal Contracts Sellers Home Value 66

Housing Wire

FEBRUARY 12, 2024

There are still notably not a lot of sellers. But home sellers are gradually easing back into this housing market. There were 66,000 new listings this week, of which 14,000 are already in contract. Sellers are coming back to this housing market. 14,000 of those new listings are already in contract.

Sellers 377

Sellers Housing Market Buyers New Listings 377

Hank Miller Team

APRIL 6, 2022

This year however, rocketing mortgage rates and other economic challenges may change that. A low in listings was reached in Feb 2021 after a Tower of Terror free fall at the start of the pandemic. We saw a dead cat bounce over the summer of 2021 but right now, the number of active listings is at an historic low.

Inventory 94

Inventory Contracts Buyers Sellers 94

Lamacchia Realty

FEBRUARY 2, 2023

WHY YOU SHOULD USE A REAL ESTATE ATTORNEY TO SELL YOUR HOME As a home seller you may think you are saving money by not hiring an attorney to guide you through the legal aspects of your sale but in actuality, it could end up costing you more not to! A seller’s attorney will work directly with the closing attorney.

Real Estate 77

Real Estate Sellers Legal Inspection 77

Appraisal Today

JANUARY 20, 2023

NOTE: Please scroll down to read the other topics in this long blog post on AMC fees, Real estate forecast, Google Business Profile, unusual homes, mortgage origination stats, etc. Record Share Of Sellers Give Concessions To Buyers Excerpts: ‘Buyers are asking sellers for things that were unheard of during the past few years.’

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Appraisal Contracts Sellers Business 52