Housing Wire

JANUARY 24, 2024

By definition, a lowball offer is an offer that is significantly below market value. This is where the problem can start — in practice, agents and their clients consider a an offer to be a lowball if it’s significantly below the asking price. Asking price and market value are not always the same thing.

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Buyers Sellers Agents Counter Offer 442

Cleveland Appraisal Blog

APRIL 21, 2022

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

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Market Value Appraisal Agents Real Estate Agent 350

Cleveland Appraisal Blog

JULY 20, 2022

It states that the buyer will still purchase the home at the contract price, even if the appraised value is lower than the contract price by a certain amount. Appraisal gap clauses have become relatively common in recent years due to many homes being sold at prices that market data does not support as being the market value.

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Appraisal Market Value Contracts Buyers 397

Cleveland Appraisal Blog

MAY 26, 2023

Because in both instances, they first had their homes valued by real estate agents, not appraisers. But the owner felt that a real estate agent could do the same type of valuation as an appraiser. And the agent they initially used was less expensive than hiring a certified appraiser. All three are market-based approaches.

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Appraisal Real Estate Agent Real Estate Agents 302

Birmingham Appraisal

JUNE 13, 2023

Appraisal Tips For Real Estate Agents As a real estate appraiser with over 30 years of experience, I have seen many changes and challenges in the appraisal profession and the real estate market. I have also worked with hundreds of real estate agents, some of whom have a good understanding of the appraisal process and some who don’t.

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Real Estate Agent Real Estate Agents Reconsideration of Value 78

Birmingham Appraisal

FEBRUARY 20, 2024

Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between real estate agents and appraisers can be a touchy subject. On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.

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Agents Appraisal Real Estate Agent Bracketing 86

Housing Wire

APRIL 19, 2024

Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile. High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market.

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Luxury Properties New Listings Buyers Housing Market 457

McKissock

JANUARY 31, 2023

As part of our Question of the Month survey series, we asked members of our appraisal community, “What’s one thing you wish real estate agents knew about the appraisal process?” ” “The definition of market value.” ” “How value is derived.” ” “We need their input.

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Real Estate Agent Real Estate Agents Appraisal 97

Appraisal Buzz

SEPTEMBER 26, 2022

We have rules, we have standards, and we all know the exact definition of value. The “official unofficial” government-related loan definition of market value is clear. Also part of the definition: Reasonable market exposure time. As an appraiser, I had to look at what I had spent a lifetime doing: “Find market value.”

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Market Value Sellers Buyers Finance 321

Housing Wire

NOVEMBER 2, 2021

The prior announcement was stunning in its own right, and led to revelations that the company bought homes for well above market value, and re-listing homes for less than what they were bought for. The purchase has triggered a Federal Trade Commission inquiry regarding Zillow’s array of agent and consumer data.

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Market Value Real Estate Agent Agents Business 393

Appraisal Buzz

AUGUST 16, 2021

Fannie Mae defines market value in part as “the most probable price that a property should bring…” Thus, probability is the very foundation of the most common definition of market value. In other words, why are appraiser estimating market value below the contract price so often?

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Market Value Buyers Appraisal Sellers 448

Birmingham Appraisal

JUNE 21, 2023

Helping Agents Understand Appraisal Factors That Impact Home Sales In the world of real estate, accurate property valuation plays an important role in the home buying and selling process. Appraisals provide an objective assessment of a property’s worth, ensuring accurate market value and facilitating successful transactions.

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Real Estate Agent Real Estate Agents Appraisal 75

Housing Wire

OCTOBER 12, 2023

When we go through the brokerage valuation process, the product is Fair Market Value (FMV). At this FMV, neutral terms would be somewhere around $180,000 down (30%) and the rest over a four-year earn-out, contingent on the production of the agents who were with the seller as of the closing date.

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Sellers Buyers Brokerage Agents 414

Housing Wire

MARCH 1, 2023

The API integration will allow lenders to bring product offerings to open houses, allowing them to engage borrowers “earlier in the lifecycle,” and will also enable lenders to better support co-marketing partners like real estate agents and loan officers.

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Real Estate Agent Technology Open Houses Loan Officers 370

Housing Wire

APRIL 1, 2021

Compass’s hoped-for market value is $7.2 Wedlake hypothesizes that Compass will enjoy a greater market value than Realogy , arguably its most apples-to-apples competitor, which has a market cap of $1.8 Compass last year generated $664 million in revenue, when agents’ commission shares are subtracted.

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Brokerage Market Value Real Estate Agents 396

Housing Wire

MAY 18, 2021

“I started as an agent up here in 2009, and I’ve been saying since then the only thing that would slow down the market would be some sort of national or international event,” said Pullin, a managing broker at Skyline Properties. “It’s very competitive, and more agents are entering the field now. .

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Real Estate Marketing Real Estate Agent Agents 433

Housing Wire

MARCH 23, 2021

would give the brokerage a “fully diluted market value of $12.5 Reuters and other outlets Tuesday morning pegged Compass’s hoped-for market value at $10 billion. billion market value. It is not clear when exactly Compass plans to go public. A successful sale of stock at $24.50 at the end of Monday.

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Valuation Marketing Brokerage Market Value 403

Birmingham Appraisal

JANUARY 25, 2023

Tips For Agents on How to Adjust For Square Footage I wrote an article once titled “ Price per square foot is not the holy grail of property value ” where I explained that price per square foot should not be the only metric given consideration when pricing a home. If you liked this post subscribe by email (or RSS feed ).

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Agents Appraisal Contracts Buyers 76

Housing Wire

JUNE 1, 2021

Budnick replaces Chris Stuart, who took a job as president of Place , a real estate technology platform for both brokers and agents. a company with a market value of nearly $700 billion. The daughter of a real estate agent, Budnick first went into finance, working with Bank of America.

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Brokerage Real Estate Agent Real Estate Realty 322

Empire Appraisal Group

JULY 1, 2021

5 Appraisal Topics Every Agent Should Know. Source: 5 Appraisal Topics Every Agent Should Know | Realtor Magazine. It’s imperative that agents not only understand the fundamentals of the appraisal system but also follow the best practices for communicating with appraisers, especially while navigating today’s market.

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Agents Appraisal Real Estate Realtors 78

Cleveland Appraisal Blog

FEBRUARY 16, 2024

FINISHED SQUARE FOOTAGE On more than one occasion some who have read my appraisal reports felt that my opinion of value was too high. They felt that way because of sales they saw on Zillow that appeared to be comparable and sold for less than my opinion of the market value of the property I appraised.

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Appraisal Market Value Real Estate Clients 406

Housing Wire

JULY 16, 2021

Nary a week went by where eXp was not announcing an influx of new agents (now over 50,000) or expansion into new countries (19 by the end of this September). billion market capitalization, less than half of its previous market value. Unclear is what pressure eXp’s agents may feel to direct their clients to Success.

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Mortgage Lending Brokerage Agents 404

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. Often, homeowners, agents, and others base their value opinions on square footage obtained from public records, usually because it’s free and, in most areas, available to the public.

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Appraisal Market Value Contracts Agents 418

Housing Wire

DECEMBER 2, 2021

But the division produced a $421 million loss before taxes, and analysis from KeyBanc and industry analyst Mike DelPrete as well as anecdotes from real estate agents indicated Zillow paid more than market value for homes. .

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Inventory Real Estate Agent Investors Market Value 424

Housing Wire

JULY 17, 2023

Scammers pose as property owners and contact a real estate agent to list the property for sale. The listing price of the property is typically set below the current market value to generate immediate interest in the property. The identity of the landowner is also obtained through these public records searches.

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Sellers Real Estate Agent Real Estate Insurance 370

Housing Wire

OCTOBER 15, 2020

Homeowners can now get a StreetEasy estimate of their homes’ current market value based on features that are unique to New York City, the company said. Homeowners start by claiming their home, then requesting an AI-powered estimate of their home’s current market value, an estimated price per square foot and monthly rent.

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Valuation Tools Market Value Real Estate 370

Housing Wire

AUGUST 31, 2023

and Business MAPS Management LLC as defendants, Davis alleges that the defendants inflated key profitability metrics including company sales and profits to convince individuals to purchase Keller Williams Regions and Market Centers. In the filings, which name Keller Williams , Keller, former KW president Josh Team, Business MAPS Ltd.

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Contracts Brokerage Business Training 404

PennyMac

JULY 20, 2021

Whether you are buying or selling a home, your real estate agent will be your partner through one of the most significant transactions of your life. Finding the right agent should involve careful planning and research, but many of us just don’t know where to start. How long have you been working as a real estate agent?

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Real Estate Agent Real Estate Agents Sellers 69

Cleveland Appraisal Blog

DECEMBER 2, 2021

If this is the norm for the neighborhood, the size of the driveway may not have any impact on value. I find that often, driveway size does not have any major impact on market value, as long as the driveway is typical for the neighborhood. DOES THE MATERIAL THE DRIVEWAY IS MADE OF MAKE A DIFFERENCE IN VALUE?

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Appraisal Buyers Market Value Real Estate Agent 243

Miller Samuel

NOVEMBER 30, 2018

As we say in the petition , this change can impact several groups in particular: consumers, the taxpayers, the housing market and appraisers. One group not explicitly mentioned in the petition but impacted down the road are real estate agents and brokers. The seller and the buyer determined the market value by agreeing on the price."

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Appraisal Inspection Real Estate Agent Agents 300

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. Often, homeowners, agents, and others base their value opinions on square footage obtained from public records, usually because it’s free and, in most areas, available to the public.

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Appraisal Market Value Contracts Agents 263

Birmingham Appraisal

AUGUST 2, 2023

Whether you’re a homeowner looking to make improvements, an agent who needs a pre-listing appraisal, or an attorney or accountant who requires a certified appraisal, a well-qualified and experienced appraiser is essential for accurate property valuation. As always, thanks for reading. No related posts.

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Appraisal Agents Valuation Real Estate 70

Housing Wire

MARCH 31, 2021

That share price would have given the company a roughly $10 billion market capitalization (a figure arrived at by multiplying the $23-$26 share price by the total number of publicly available and non-public shares, which is about 400 million). The price reduction docks Compass’s target market value to around $7 billion.

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Valuation Brokerage Market Value Business 393

Cleveland Appraisal Blog

APRIL 11, 2023

The research and analysis that a well-trained professional appraiser can provide you with will include important information above and beyond their opinion of the market value of the property they are appraising. That can have a big impact on market value. Not professional appraisers.

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Appraisal Market Value Legal Property Appraisal 354

Cleveland Appraisal Blog

OCTOBER 12, 2022

In most cases, my clients looked at sales on Zillow and were of the opinion that my opinion of their property’s market value was too high. So, I wanted to discuss some things to keep in mind when looking at sales on Zillow to try and figure out a property’s market value.

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Market Value Appraisal Clients Marketing 334

Realtor

MAY 17, 2023

While it’s certainly true that you can let go of the anxiety of needing to show your home at any moment, you still need to cooperate with your buyer, the buyer’s agent, and the commitments made in the contract. In those cases, you or your listing agent or the buyer’s agent will need to make the home available for inspection.

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Sellers Inspection Contracts Property Taxes 142

Cleveland Appraisal Blog

JUNE 25, 2021

What is the primary reason a newly built home has a higher market value than the same home that is older? Simply stated, it is loss in value. For instance, remodeling a kitchen or bathroom typically improves a home’s market value, which in turn, reduces a home’s loss in value.

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Market Value Appraisal Marketing Buyers 244