Will Springer Realtor

DECEMBER 19, 2023

Buyers and sellers tiptoed through caution. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. We experienced yet another unusual year for residential real estate – high interest rates, leading to affordability challenges amid low inventory.

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Real Estate Buyers Sellers Inventory 68

Housing Wire

APRIL 8, 2022

Home prices are skyrocketing, housing inventory is at all-time lows and homebuyers have to contend with multiple bids. I set a specific home-price growth model for the years 2020-2024 that said if home prices only grew at 23% during this five-year period, the housing market would still be OK, given wage growth. Inventory velocity.

Housing Market 391

Housing Market Marketing Inventory Lending 391

Appraisal Today

FEBRUARY 2, 2024

2024 Updated UAD and URAR – What does It Mean for You? The Appraisal World Is Changing January 25, 2024 Excerpts: There has been a lot of talk about the Uniform Appraisal Dataset (UAD) and Uniform Residential Appraisal Report (URAR) redesign initiative, and how it will make life easier for appraisers. What exactly does this mean?

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Appraisal Contracts Training Real Estate 66

Will Springer Realtor

FEBRUARY 13, 2024

Total inventory remains low, however, keeping prices higher on an annual basis. The market is now in the process of thawing after a lengthy cool down, as buyers begin anew to seek change in their home dynamics. This indicates there may be higher turnover for homes hitting the market amid a growing number of buyers. 1; that’s 2.8%

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New Listings Buyers Inventory Lending 54

Listing Spark

FEBRUARY 7, 2024

As we enter into 2024, we are stepping out of one of the most turbulent years for real estate in Texas in some time. On the heels of the largest run up in home values in recorded history, we saw an abrupt and heavy shift that’s been challenging to grapple with for sellers and buyers. trillion compared to $2.75 trillion in 2021.

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Real Estate Sellers Home Value Inventory 36

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.

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Real Estate Buyers Sellers Insurance 36

Movoto

MAY 8, 2024

million in 2024. million, meaning buyers relying on a mortgage will need either an FHA jumbo loan or a conventional loan. The post Santa Monica Real Estate Market: Current State & Trends for 2024 appeared first on Movoto Blog. And the Santa Monica median home price averaged $1.99

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Real Estate Marketing Logistics Real Estate Agent 36

Birmingham Appraisal

FEBRUARY 6, 2024

Unlocking the Basics: Part 2 of Housing Statistics for Beginners In my last blog post, which was the first installment in this multi-part series, I discussed why it is important for agents to be aware of local housing statistics. In my last post, I discussed statistics related to supply and demand.

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Inventory Real Estate Sellers Buyers 79

Appraisal Today

MAY 10, 2024

ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. It was and is controversial. Try this this bigger oar.

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Reconsideration of Value Appraisal Real Estate Insurance 73

Will Springer Realtor

AUGUST 15, 2023

Ah, for the good old days of 2019 – when we could stomach home prices closer to the mid-million-dollar mark and housing options were somewhat plentiful amid a mildly competitive buyer environment. From a buyer’s perspective, it couldn’t be worse. Mortgage rates are high, home prices are high, there’s no inventory.”

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Sellers Buyers New Listings Inventory 60

Appraisal Today

APRIL 5, 2024

NOTE: Please scroll down to read the other topics in this long blog post on appraiser discrimination lawsuit, waivers, staying positive with slow business, appraiser’s economic forecast, unusual homes, mortgage origination stats, etc. The second development in the case is that on March 22, 2024, the attorneys for Drs.

Appraisal 77

Appraisal Contracts Business Construction 77

Will Springer Realtor

APRIL 9, 2024

That was highlighted by a 30% month-to-month gain in total home sales (single-family, townhome and condos combined) across the county in March and unseasonably low supply for buyers. months (20 days) of available inventory. North King County, including Shoreline and Lake Forest Park, had the smallest inventory as of April 1 – 0.5

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Marketing Inventory Buyers Sellers 60

Appraisal Today

MARCH 1, 2024

According to the Institute for Luxury Home Marketing’s February 2024 report¹, the single-family luxury home segment is showing promising signs of growth. Both inventory levels and new listings increased significantly in recent months, leading to an 18 percent increase in sales and a 1.6 Top list of luxury home markets in 2024.

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Appraisal Contracts Business Marketing 75

Birmingham Appraisal

JANUARY 10, 2024

This is different than what we saw in 2022, where median prices were still increasing from the prior year due to steady demand and limited inventory. What About 2024? So now that 2023 is in the rearview mirror what about 2024? Homes in the higher price ranges can skew the average price more than the median price.

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Real Estate Sellers Appraisal Marketing 80

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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Bracketing HOA Sellers Buyers 60

Birmingham Appraisal

FEBRUARY 13, 2024

Understanding these metrics enables agents to adjust pricing strategies based on inventory levels and buyer demand, optimizing the chances of selling a property quickly and at the best possible price. In the second post of my series , we covered average and median sold prices, average days on the market, and months of inventory.

Real Estate 61

Real Estate Buyers Inventory Appraisal 61

Will Springer Realtor

AUGUST 11, 2023

First, let’s set the scene: Housing inventory is shrinking year to year in most parts of the country and there are no signs of significant replenishment over the horizon. As the chart shows, a historically large segment of Millennials is inching toward 36, the median age of a first-time home buyer in the U.S.

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Buyers Development Construction New Listings 36

Will Springer Realtor

JANUARY 9, 2024

The Federal Reserve played the role of Santa Claus and delivered an unexpected present just before Christmas in the form of a forecast for lower interest rates in 2024. Inventory fell in terms of months of supply across the county. months’ inventory was available as of Jan. months’ inventory was available as of Jan.

Housing Market 61

Housing Market Marketing Inventory Lending 61

Appraisal Today

MAY 17, 2024

NOTE: Please scroll down to read the other topics in this long blog post on Geographic Data and Comps, effect of renovation on value, very low foreclosures now, current real estate market, unusual homes, mortgage origination stats, etc. = = $99.5M Read on blog www.appraisaltoday.com/blog Posted by noon Friday. per month, $24.75

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Tools Appraisal Renovations Design 64

Appraisal Today

MAY 24, 2024

To read more, including all the violations, Click Here My comments: The blog post is well written, relatively short, and worth reading, if only for reminders. Read on blog www.appraisaltoday.com/blog Posted by noon Friday. You can subscribe to the blog in the upper right of each blog page. baths, 19,660 sq.ft.,

Appraisal 81

Appraisal Contracts Mortgage Reconsideration of Value 81

Will Springer Realtor

DECEMBER 12, 2023

The year in residential real estate nears its end amid twists and turns like a good book but it’s waiting for the storyline to improve as we fill out the empty pages in 2024. Months of inventory for single-family homes was flat at 1.7 (or Inventory was at 1.9 Single-family prices were at $885,500, up 0.3% month-to-month and 7.1%

Housing Market 42

Housing Market Marketing New Listings Buyers 42

Will Springer Realtor

SEPTEMBER 12, 2023

The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. Only buyers and sellers who must move are doing so. This suggests homes – while far fewer for sale than in recent years – are quickly being scooped up by those few available buyers. months’ inventory, down from 1.5

Finance 68

Finance Inventory Construction Buyers 68

Appraisal Today

MARCH 8, 2024

NOTE: Please scroll down to read the other topics in this long blog post on property data collectors, economic analysis, managing your email inbox, unusual homes, mortgage origination stats, etc. Read on blog www.appraisaltoday.com/blog Posted by noon Friday. You can subscribe to the blog in the upper right of each blog page.

Appraisal 82

Appraisal Contracts Real Estate Housing Market 82

Housing Wire

NOVEMBER 2, 2023

The program is designed to help agents connect with buyers, improve their brand recognition and convert leads into clients. They can be used for different lead types and content marketing resources like blogs, live support, phone script templates and podcasts to help agents grow through a variety of channels. housing industry.

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Real Estate Real Estate Agent Tools Agents 345

Will Springer Realtor

MARCH 12, 2024

As a result, home buyers and sellers across Seattle/King County saw a mixed bag of activity in February, according to the Northwest Multiple Listing Service (MLS). This return of buyers follows a sluggish late 2023. Months of inventory continue to be a burden on all buyers. Inventory is at 1.3 There is 1.9

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Buyers Construction Sellers Inventory 57

Cornerstone

JUNE 1, 2021

.” Yun said this in response to the high homebuyer demand and rising housing prices we’re currently seeing — which he blamed simply on a shortage of inventory. Home prices are climbing because of record-low inventory levels that can’t meet the needs of today’s buyers. percent 2023: 4 percent 2024: 3.6

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Inventory Buyers Sellers Investing 52

Will Springer Realtor

NOVEMBER 14, 2023

Beyond labor strife, America’s home buyers and sellers appear to be on strike as well. Worsening affordability issues and lower-than-usual inventory have prompted many consumers to watch this housing market from the sidelines – without the picket lines. months of inventory available in the county, down from 2.0 in 2024 and 4.5M

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Inventory Buyers Sellers New Listings 36

Will Springer Realtor

DECEMBER 12, 2023

We have enjoyed working with many of you this year and providing informative stories and features in this newsletter as well as on the Living the Dream blog and social media platforms. To a happy 2024! = Inventory continues to shrink to levels not seen since the days of disco, shag carpets and pet rocks. 19) at 10am PT.

Real Estate 36

Real Estate Buyers Housing Market Law 36

Will Springer Realtor

MAY 14, 2024

The favorable boost in supply is the result of fewer buyers and sellers compared with most spring seasons. Pending sales (sellers in contract with buyers) climbed 14% year-on-year (YoY) for King (2775) and Seattle (1012); they are up 23% YoY on the Eastside (865). months of inventory, including 1.3 months in Seattle and 0.9

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Marketing Inventory Buyers Sellers 36

Appraisal Today

FEBRUARY 16, 2024

This article provides an insight into the appraisal process of historical properties, emphasizing the role of market data, potential buyers, specialized databases, appraisal methods, and the significant impact of preservation restrictions. Sometimes buyers like them and sometimes not. Many people don’t like them. per month, $24.75

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Appraisal Contracts Training Architecture 80

Will Springer Realtor

JANUARY 9, 2024

The Federal Reserve recently updated its forecast, hinting at a potential decrease of about 75 basis points (0.75%) in its short-term lending rate by the year’s end – promising news for borrowers in 2024. 1, that requires buyers wishing to work with a licensed real estate broker to sign a services contract.

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Mortgage Real Estate Law Lending 36

Appraisal Today

FEBRUARY 9, 2024

NOTE: Please scroll down to read the other topics in this long blog post on E&O and state boards, bias, 32% sales are new homes, unusual homes, mortgage origination stats, etc. = Read on blog www.appraisaltoday.com/blog Posted by noon Friday. You can subscribe to the blog in the upper right of each blog page.

Appraisal 80

Appraisal Contracts Insurance Construction 80

Will Springer Realtor

JUNE 13, 2023

Unfortunately for buyers, both figures – prices and rates – are climbing, raising the hurdle to homeownership even higher for many. This means the negative YoY price decline – which is in a range of minus 7%-11%, depending on the submarket – will slowly return to positive territory, likely by early 2024. in Seattle.

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Buyers Inventory Construction Finance 36

Will Springer Realtor

MARCH 10, 2023

Unless the listed home is in a favorable location, priced competitively and move-in ready, activity has been somewhat muted as prospective buyers and sellers wait for economic conditions to improve. There is a lot of interest in Avenue, with slightly more than half of the 365 homes in the towers reserved by buyers.

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Construction Modernization Buyers Inspection 36

Will Springer Realtor

NOVEMBER 10, 2023

Knowingly or not, associations can discriminate against potential home buyers by enforcing a community’s established rules that have the potential to limit people of certain classifications from purchasing a property. It’s working well for both builders and buyers. Buyers must qualify for the mortgage at the highest rate in the offer.

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HOA Buyers Law Supply Chain 36

Will Springer Realtor

MARCH 11, 2024

However, in today’s market, the overlooked costs of running a household have taken center stage, demanding attention and strategic planning from homeowners and prospective buyers alike. at the start of 2024 after increasing them by 8.7% Source ) Locally, Puget Sound Energy raised electric rates by 1.7% this fiscal year after a 4.5%

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Insurance Sellers Real Estate Buyers 36

Will Springer Realtor

MAY 13, 2024

Housing inventory nationwide flipped from oversupply to undersupply about a dozen years ago when consumers and the banking industry began to slowly rebound financially from the Great Recession. America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades.

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HOA Transportation Construction Buyers 36