Housing Wire

DECEMBER 27, 2022

over asking price. 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. By September, a full-fledged housing market recession had set in. Those trends are likely to continue in 2023.

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Housing Wire

DECEMBER 20, 2023

Those economic projections from the 19 members of the Federal Open Markets Committee show both a tighter consensus of opinions and a lower target Federal funds rate than the projections the FOMC made in September. Higher interest rates make it more expensive to purchase a home and more difficult to qualify for a mortgage. 15, just 0.07

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Mortgage Realtors Real Estate Marketing 411

Lamacchia Realty

OCTOBER 25, 2023

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Inventory didn’t increase at the rate most assumed it would.

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Appraisal Today

SEPTEMBER 15, 2023

NAR Appraiser Survey July, 2023 In July 2023, NAR Research conducted a survey of all 9,800 appraiser members and 50,000 randomly-selected residential-focused non-appraiser members. The survey results had a comparison of 2022 and 2023, which was very interesting. This is up sharply from 27 percent last year.

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Will Springer Realtor

JANUARY 9, 2024

This should have sparked the fading embers of an otherwise chilly housing market in Seattle/King County in the final days of 2023. Before we look ahead, let’s take a quick glimpse at the final numbers from 2023, courtesy of the Northwest Multiple Listing Service. YoY, as sellers accepted prices at an average of 96.6%

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Lamacchia Realty

DECEMBER 28, 2022

2023 will be 1982 all over again. It will be much like 2021, with record-breaking amounts of home sales, more record-breaking home price appreciation, and more buyers fighting over homes. Note: These 2023 predictions and observations apply nationally on many levels. What a difference a year makes.

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Empire Appraisal Group

DECEMBER 28, 2023

Owners Keep Remodeling – but Smaller Projects Sales at Home Depot were lower but beat expectations. NEW YORK – Home Depot sales continue to slide as Americans wrestle with persistent inflation and the company narrowed its outlook for the year. Inflation is hitting Home Depot on a number of fronts. billion, Home Depot Inc.

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Lamacchia Realty

MARCH 26, 2024

Elevated condo association and special assessment fees present an additional financial burden for condo owners, deterring potential buyers unless the purchase price is reduced sufficiently to offset the higher ongoing monthly costs. Source Condo inventory has been rising more than single families as sales have been decreasing since 2023.

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Will Springer Realtor

MAY 14, 2024

Every key data point from the Northwest Multiple Listing Service (MLS) gained ground against the previous month – as often happens with the spring housing season taking stride – including the number of new and active listings, homes going under contract and final sales. Prices rose, too, to near-record highs.

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Will Springer Realtor

NOVEMBER 14, 2023

From health-care and auto workers – even Hollywood actors – Americans have hit the picket lines in greater numbers in 2023. Beyond labor strife, America’s home buyers and sellers appear to be on strike as well. Compounding the financial squeeze, home prices have risen in many cities outside Seattle. in September.

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Appraisal Today

OCTOBER 6, 2023

The ASB will continue to review USPAP for changes when necessary but will shift much of its focus to providing more guidance to the marketplace. 2024 USPAP Source: Appraisal Foundation The 2024 Uniform Standards of Professional Appraisal Practice is now available for purchase in physical and digital formats.

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Will Springer Realtor

DECEMBER 14, 2021

They took advantage of multiple bids, price surges, waived contingencies and all-cash offers. At the same time, many others found themselves reluctant to market their homes amid a fear of not having a clear replacement strategy. Buyers will continue to outstrip sellers by a significant margin but less extreme than in 2021.

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Appraisal Today

JULY 14, 2023

This is an insurance term that basically means you must maintain continuous coverage until you either retire or get out of the business, at which time you will need to purchase Extended Reporting Period (ERP) unless you qualify for free ERP (Many OREP Members qualify for free ERP when they retire). Phone app. – The 8,000+ sq. 3 bedrooms.

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Tools Appraisal Insurance Contracts 77

Lamacchia Realty

APRIL 15, 2022

week supply of homes for sale. We will tell them how after the once-in-a-century pandemic , the average home sale price increased dramatically. In 2021 alone, prices increased 19%. So if someone bought a house in early January of 2021 and put 20% down, they would have nearly 40% equity in the home by the end of December.

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Housing Wire

FEBRUARY 15, 2023

Temperatures are slowly starting to rise in many parts of the country as we head into spring — and so is homebuilder sentiment, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday. Builders are continuing to offer a variety of incentives.

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Housing Wire

FEBRUARY 27, 2024

Real estate brokerage Redfin revealed signs of progress in its fourth-quarter 2023 earnings report, signaling a potential turnaround after facing challenges earlier in the year. Fourth-quarter 2023 revenues at Redfin fell 2% year over year to $218.1 For full-year 2023, revenues fell to $976.7

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Brokerage Housing Market Renovations Real Estate 353

Will Springer Realtor

OCTOBER 11, 2022

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. We are all sensitive to rising interest rates, particularly when attempting to finance the largest purchase of our lives. What is certain is that the Fed continues to have its foot firmly pressed on the pedal.

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Housing Market Marketing Buyers Real Estate 36

Will Springer Realtor

OCTOBER 11, 2023

Suburban residents can be almost assured of the peaceful enjoyment of their home without worrying about a neighbor constructing a rollercoaster or baseball stadium next door. Entry is free on Nov. Rainier and other national parks on this special day. Zoning laws in the U.S. Zoning laws in the U.S. The benefits of zoning are innumerable.

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Housing Wire

AUGUST 23, 2023

Economists, analysts and executives expect mortgage rates will continue to rise this year, possibly touching the 8% mark in the coming weeks. The last time mortgage rates reached the 8% level was in the early 2000s, when home prices were significantly lower. at this point. When asked why U.S.

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Appraisal Today

JANUARY 19, 2024

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, and types of bias, Scams on black homes, unusual homes, mortgage origination stats, etc. After a major interior makeover, the architecturally significant home is in Houston‘s upscale Piney Point Village neighborhood.

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Appraisal Today

OCTOBER 28, 2022

There’s been a lot of buzz about measuring homes to ANSI standards in the appraisal industry–what can you tell us about the VA’s stance on ANSI? NOTE: Please scroll down to read the other topics in this long blog post on real estate market, mortgage forecast, Halloween haunted homes, unusual homes, mortgage origination stats, etc.

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Housing Wire

OCTOBER 24, 2022

Tom Piercy, managing director of Incenter Mortgage Advisors, said many independent mortgage banks stockpiled huge volumes of low-rate loans in 2021, understanding that rates would eventually rise, and they are cashing in on the new rate environment — a climate that also is wreaking havoc on loan-origination volumes.

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