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Why home prices haven’t crashed even with high mortgage rates

Housing Wire

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. the seasonal peak this year was on Nov.

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How to Find Comps With Few Sales

Appraisal Today

But backing up, I can look at older stuff for the sake of research, but this doesn’t mean I’ll use a super old comp in a report. I appraise a lot of 2-4 units and regularly go to other neighborhoods for comps. Excerpts: 8 bedrooms, 7.5+ I wrote that blog after 8 years of experience. Look to the comps most of all.

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OK to average adjusted comps on appraisals?

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on Non-lender appraisals, dealing with lender hassles, real estate market, unusual homes, mortgage origination stats, etc. = $36M Beachfront Beauty on Maui Hawaii Excerpts: What exactly makes this oceanside manse on Maui so desirable? How does this evolve in the future?

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Logan Mohtashami’s 2023 housing market forecast

Housing Wire

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Buckle up as we look at each factor individually. Home price s.

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NAR Appraiser Survey July, 2023

Appraisal Today

This is up sharply from 27 percent last year. The 21 percent who cite other challenges are most likely to cite lack of business/slow market, rising interest rates, low fees, and to reiterate pressure from AMCs. Minor (non-substantive) wording, number, and heading changes are not marked. UPDATED No. See AIR sections I.B.(9)

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Appraising Short-Term Rentals/Airbnb

Appraisal Today

Julie and I are co-hosts every Thursday at 2 PM Pacific Time in our Clubhouse group (Real Estate Appraisal Questions). Two articles by Julie on my website: Residential Appraisals and Airbnb Income? Excerpts from the article : Don’t get caught like a deer in the headlights! I have been a commercial appraiser for over 40 years.

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Anthony Lamacchia’s 2024 Predictions

Lamacchia Realty

ANTHONY LAMACCHIA'S 2024 REAL ESTATE MARKET PREDICTIONS Anthony is obsessed with tracking the data and in this article written at the end of 2023 he explains how the market is shaping up based on trends and what Buyers and Sellers can expect in 2024. In typical rate rising cycles, there is a lack of buyers.

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