Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. million units in 2022, up from 5.67 trillion in 2022 and $1.70 Last week, the Federal Reserve raised the federal funds rate by 50 basis points to 4.25%-4.50%.

Mortgage 404

Mortgage Housing Market Retail Contracts 404

Raleigh Realty

JULY 31, 2022

If you are a first-time home buyer try not to freak out because this is why you hired a home inspector, to find the issues with the home This gives the buyers an opportunity to negotiate some reasonable requests before purchasing the home. Some requests will be mandatory fixes or the buyer will choose to find another home.

Inspection 148

Inspection Sellers Real Estate Agent Buyers 148

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.

Real Estate 311

Real Estate Brokerage Buyers Property Management 311

The Robert Weiler Company

SEPTEMBER 9, 2022

Hiring a real estate lawyer to review all contracts first is best. Another loan option for buying land is a land contract. With a land contract, the seller provides the land buyer with the loan, instead of an institution. The loan is structured for the buyer to pay a down payment and repay the seller in installments.

Real Estate 78

Real Estate Buyers Contracts Development 78

GoForrmz

OCTOBER 26, 2022

Now as 2022 starts to wind down, a lot of people are trying to forecast how the housing market will turn out in 2023. 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.

Real Estate 78

Real Estate Contracts Clients Real Estate Agent 78

Empire Appraisal Group

JANUARY 11, 2023

While 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, economists predicted Tuesday during the National Association of REALTORS®’ annual Real Estate Forecast Summit. Annual new-home sales likely will be down 17% for 2022, returning to pre-pandemic levels.

Real Estate 78

Real Estate Marketing Buyers Sellers 78

Appraisal Today

APRIL 5, 2024

A Black couple in Baltimore – Dr. Connolly and Dr. Mott, both university professors – filed suit in August 2022 alleging racial discrimination against loanDepot.com and the appraiser it engaged to appraise their home for a refinance. Appraisers should consider the potential impact, especially in markets with significant new construction.

Appraisal 77

Appraisal Contracts Business Construction 77

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.

Construction 455

Construction Housing Market Inventory Buyers 455

Empire Appraisal Group

SEPTEMBER 8, 2022

The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom. Scary times: builders are slashing home prices and slowing construction as buyers pull back, survey shows” (MarketWatch). Nowhere in Sight. Source: U.S.

Housing Market 78

Housing Market Marketing Real Estate New Listings 78

Hank Miller Team

JULY 12, 2023

The first half of the Atlanta 2023 housing market shared many similarities with the first half of the 2022 real estate market. Atlanta Home Prices Q2 2023 The MSM was ebullient, just delighted when the housing market hit the brakes in the last half of 2022. Fewer buyers, fewer contract and sales. Not Greater Atlanta.

Housing Market 40

Housing Market Marketing Buyers Sellers 40

Birmingham Appraisal

MARCH 21, 2023

Over the past several years we had a big increase in demand due to buyers taking advantage of lower interest rates. Since the housing crash in 2008, there has been limited new construction of homes which has negatively impacted the amount of housing supply. When there are more buyers, but a limited supply, this can drive prices up.

Real Estate 83

Real Estate Appraisal Marketing Market Value 83

Housing Wire

MARCH 6, 2024

Should mortgage rates fall, demand for residential real estate would increase, encouraging buyers who had been waiting on the sideline to move forward with home purchases,” according to the Beige Book. Many buyers who were waiting for a reprieve in mortgage rates have started to return with the intention of refinancing later.

Mortgage 383

Mortgage Real Estate Inventory Construction 383

Town & Country Residential Appraisals

SEPTEMBER 26, 2022

But did you know there are a number of other reasons you should be contracting an appraiser to perform a professional valuation on your property? When you are a cash buyer you definitely want to get an appraisal. Consulting services are what you need if you are looking to remodel, subdivide or construct an new addition.

Appraisal 50

Appraisal Renovations Real Estate Valuation 50

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. Ohio, for instance, was the seventh most populous state in 2022, and also had the seventh largest number of state tips that year at 46.

Appraisal 87

Appraisal Training Inspection Real Estate 87

Appraisal Today

FEBRUARY 17, 2023

Regarding our garage example, we might start with answering these types of questions: What have you observed about how buyer’s react to additional garages? Do buyers react differently based on the price range, size, quality, or other features of the home? How many garages are enough for most buyers, how many garages are too many?

Real Estate Agent 52

Real Estate Agent Real Estate Appraisal Agents 52

Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. The number of potential buyers will decrease as rates go up in many markets. USPAP and the Contract. Some appraisers do not like having a copy of the contract.

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Housing Wire

DECEMBER 19, 2022

The NAHB/HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. However, builders can only slash prices so much.

Contracts 400

Contracts Construction Buyers Housing Market 400

Housing Wire

DECEMBER 20, 2022

It’s fair to say that 2022 has been a depressing year for homebuilders. 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.

Supply Chain 376

Supply Chain Construction Inventory Finance 376

Empire Appraisal Group

DECEMBER 14, 2023

1 in 3 Sellers Granting Buyer Concessions By Kerry Smith Two Fla. SEATTLE – Home sellers gave concessions to buyers in 35% of U.S. Orlando came closest to the national numbers in 2023 and 2022, and while Miami saw a decline in concessions, it was on par with national ones. in 2022 Orlando : 34.3% in 2022 Tampa : 43.1%

Sellers 78

Sellers Buyers Agents Contracts 78

Appraisal Today

JULY 1, 2022

Excerpt: What’s the difference between a newly constructed home and a hundred-year-old home? > New in the July 2022 Issue of Appraisal Today. E&O Insurance Update 2022 – Claims, State Boards, Discrimination, etc. 2022 E&O Insurance – Where to Get Insurance, What to look for in a policy, etc.

Appraisal 52

Appraisal Contracts Insurance Real Estate 52

Housing Wire

JANUARY 19, 2024

from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases. Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. from December 2022 ($366,500). From NAR : Existing-home sales waned 1.0%

Housing Market 441

Housing Market Inventory Contracts Marketing 441

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.

Contracts 392

Contracts Inventory Housing Market Buyers 392

Housing Wire

OCTOBER 26, 2022

From Census : New Home Sales of new single-family houses in September 2022 were at a seasonally adjusted annual rate of 603,000, according to estimates released jointly today by the U.S. The builders will pull back on construction when the supply is 6.5 months of supply is still under construction 2.1 When supply is 4.4

Construction 454

Construction Inventory Contracts Buyers 454

Appraisal Today

DECEMBER 8, 2023

The last unit they bought was in mid-2022 as far as I can tell… To read more, plus the 45+ appraiser comments, Click Here Investor Home Purchases Are Down Over 40% in Sun Belt Pandemic. 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.

Appraisal 67

Appraisal Real Estate Contracts Design 67

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

Construction 280

Construction Retail Mortgage Contracts 280

Appraisal Today

NOVEMBER 3, 2023

The vast majority of complaints (but not all) stem from an appraisal that comes in below the contract price or the targeted refinance “number” where the homeowner, or even the buyer, identifies as part of a minority racial or ethnic group. Care was taken to move as little earth as possible during construction. percent from 7.90

Appraisal 77

Appraisal Contracts Architecture Mortgage 77

Appraisal Today

JULY 21, 2023

This likely has to do with the cost of building a pool, cost of maintaining a pool, and even larger parcels at higher ranges – not to mention buyers at higher price points expecting a pool more often. In contrast, pools hardly exist in some locations, so it’s less of a factor because buyers don’t expect a pool. Listed for $42.5

Appraisal 90

Appraisal Real Estate Contracts Business 90

Housing Wire

FEBRUARY 16, 2023

In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry. percent below the January 2022 rate of 1,841,000. percent) below the January 2022 rate of 1,666,000. percent)* above the January 2022 rate of 1,247,000. percent (±15.9

Construction 503

Construction Housing Market Inventory Mortgage 503

Appraisal Today

OCTOBER 20, 2023

In June of 2022, one year after completing the original appraisal report, I received an email from the AMC stating the lender had received a repurchase demand from Fannie Mae. Note: This update does not apply to newly constructed manufactured homes because these items must be present on all new units. percent from 7.67 percent from 7.70

Appraisal 72

Appraisal Design Contracts Inspection 72

Housing Wire

MAY 31, 2022

Chicago’s housing market started out hot in 2022. increase year over year for properties under contract, indicating that demand in the city remains strong,” said Elizabeth Anne Stribling-Kivlan, Compass’ senior managing director. trillion in 2022, down significantly from last year’s $4 trillion. during the same time.

Mortgage 382

Mortgage Construction Lending Real Estate 382

Appraisal Today

NOVEMBER 4, 2022

Keep them up to date in every step of the report so that they can keep the Lender (and the Buyer/Seller/Realtor/Closing Attorneys when applicable) all in the loop on the progress of the report. Buyer-Borrower Remorse. Essentially, the cases are situations of “buyer-borrower remorse.” Have a very responsive credo.

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Housing Wire

JULY 25, 2022

Fannie Mae ’s Economic and Strategic Research Group also released a recent report that projects year-over-year growth in home-price appreciation for 2022 will reach 16%. Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”.

Housing Market 393

Housing Market Marketing Supply Chain Real Estate 393

Appraisal Today

JUNE 10, 2022

Not much work probably compared with 2020-2022. Construction started in 2001 and took three years to complete with two bedrooms, 2 bathrooms, and a swimming pool. Jun 7, 2022. recession to begin in 2023, which gathered more votes than 2022 (30%), 2024 (8%) or 2025 and beyond (17%). This is the past.

Appraisal 52

Appraisal Contracts Business Mortgage 52

Housing Wire

JANUARY 19, 2023

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. An estimated of 1.533 million housing units were started in 2022, down 3.0% Homebuilders closed out 2022 with an annual housing start rate of 1.382 million units in December, down 1.4% Census Bureau and the U.S.

Inventory 391

Inventory Construction Development Housing Market 391

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. Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”. Existing-home sales rose 7.0% from a year ago.

Inventory 404

Inventory Buyers Realtors Contracts 404

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

Housing Market 348

Housing Market Marketing Construction Inventory 348

Housing Wire

JANUARY 20, 2023

million units, declining from its final estimate of total sales in 2022 and marking the slowest annual pace since 2010, according to its Economic and Strategic Research Group. “We Thus, the new home sales market is expected to be buoyed by first-time buyers this year, Fannie Mae said. trillion, contracting further from an estimated $2.34

Mortgage 378

Mortgage Housing Market Buyers Contracts 378