Housing Wire

NOVEMBER 3, 2022

Given the current 7% interest rate, the median home price would have to drop to about $235,000, a decline of 45%, in order for this year’s buyer to have the same monthly payment as last year, Ratiu explained. Launched at the end of October, buyers must refinance by December 31, 2025. 28 fell by 0.5%

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Buyers Mortgage Sellers Housing Market 468

Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Based on numerous interviews with mergers and acquisitions experts, we dove into the 2023 IMB buyer profile. trillion in loans, about half of 2021’s $4.4 trillion to $1.7

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Mortgage Buyers Sellers Loan Officers 425

Housing Wire

APRIL 14, 2023

The benefits of homeownership only accrue if first-time buyers can both successfully purchase a home at a reasonable price and remain in it for the long-term, weathering various economic cycles. However, buyers are contending with rising interest rates , high home prices and constrained inventory. Mortgage Insurers.

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Buyers Finance Mortgage Insurance 314

Housing Wire

JANUARY 25, 2023

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” Homebuying activity remains tepid, but if rates continue to fall and home prices cool further, we expect to see potential buyers come back into the market.

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Sacramento Appraisal Blog

SEPTEMBER 9, 2022

And some buyers are stuck in the future, […]. Well, I can’t help but think of today’s housing market compared to the film. Sellers have tended to be stuck in the past expecting the market to be hotter than it actually is right now.

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Housing Market Sellers Buyers Marketing 446

Sacramento Appraisal Blog

MAY 2, 2023

UPCOMING (PUBLIC) SPEAKING GIGS: 5/4/23 Housing Market […] The post Sellers sitting out of the housing market & buyers getting concessions first appeared on Sacramento Appraisal Blog | Real Estate Appraiser. I hope this is useful, whether you’re local or not. Scroll by topic or digest slowly.

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Housing Market Sellers Buyers Appraisal 299

Housing Wire

JULY 21, 2022

Retail housing market data from June showing early signs of a real estate slowdown was foreshadowed three months earlier in buyer behavior at foreclosure auctions. The downshift in buyer behavior at the foreclosure auction came two months before the downshift showed up in retail housing market data. That was up from 40% a year ago.

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Housing Market Buyers Real Estate Marketing 406

Housing Wire

JANUARY 20, 2022

Right after the Great Recession, between 2009 and 2011, buyers viewed a median of 12 homes before purchasing, as inventory was plentiful. From 2004 to 2006, during the housing boom years, even though homes were moving at a rapid pace, buyers typically looked at nine homes.

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Buyers Inventory Realtors Open Houses 448

Housing Wire

FEBRUARY 1, 2023

While mortgage rates have been trending lower, rates are still higher than 12 months ago, but some experts anticipate that the downward pressure on rates will provide opportunities for buyers. For the buyer of a median-priced home, these lower prices translate into a $9,800 savings on a 20% down payment.

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Mortgage Buyers Landlords Realtors 370

Housing Wire

JULY 27, 2021

Foreign buyers purchased $54.4 Out-of-country buyers purchased only 107,000 properties in that 12-month span — down 31% from the prior period. Foreign buyers who resided in the U.S. Foreign buyers who resided in the U.S. International buyers accounted for 2.8% billion worth of U.S. residential real estate.

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Buyers Real Estate Realtors Investing 397

Appraisal Buzz

APRIL 11, 2022

Here are some buyer relocation trends to watch out for in 2022’s hectic real estate market. Many millennial and Gen-Z first-time buyers look for second homes before investing in a full-time primary residence. Affordability remains an issue for younger buyers who haven’t yet saved enough money. More Second Home Purchases.

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Buyers Renovations Real Estate Mortgage 370

Housing Wire

JULY 16, 2021

Cash buyers are pouring into the housing market this year, and they’re picking off more than half of available inventory in certain areas in Florida and New York. “I just sold a $700,000 home to a cash buyer last week. That’s often good news for financed buyers because it means fewer bids to compete with.”

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Buyers Real Estate Agent Real Estate Housing Market 544

Housing Wire

APRIL 19, 2023

But the landscape is changing, and ADU buyers (and ADU builders and makers) are adapting to it. The often hyperlocal nature of ADU permitting can act as a deterrent to potential ADU buyers, who lack the expertise (or the time and energy) to navigate the regulatory maze. But the pandemic is now over and interest rates are way up.

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Buyers Real Estate Real Estate Agent Construction 325

Housing Wire

SEPTEMBER 30, 2022

It’s transitioning to a buyers’ market, as 20% of sellers had a price reduction in August 2022, compared with 11% a year ago,” said Rich Weidel, CEO at Princeton Mortgage. Some buyers are giving low ball offers in the hope of having their offers accepted,” one mortgage broker/owner in Southern California told HousingWire.

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Mortgage Buyers Loan Officers Realtors 479

Housing Wire

APRIL 19, 2023

. “Affordability challenges persist and there is limited for-sale inventory in many markets across the country, so buyers remain selective on when they act,” Kan said.

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Mortgage Buyers Marketing Inventory 350

Housing Wire

OCTOBER 20, 2022

A deeper dive into foreclosure buyer behavior shows which markets are most likely to see a home price correction in the next six months. Foreclosure auction buyers started bidding more conservatively in the second quarter of 2022, as measured by proprietary data from the Auction.com marketplace. Price Correction Risk by Region.

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Housing Market Buyers Real Estate Marketing 431

Housing Wire

SEPTEMBER 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. For 21% of respondents, however, “nothing” had improved.

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Buyers Mortgage Housing Market Marketing 397

Housing Wire

MARCH 16, 2022

The NAHB/HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes. The component tracking traffic of prospective buyers, however, rose two points to 67.

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Buyers Supply Chain Inventory Housing Market 385

Housing Wire

JULY 21, 2021

“Many buyers who have been priced out of the market for single-family homes have turned to condos,” Fairweather said. “Earlier in the pandemic, many buyers shunned small condos in favor of large detached homes with space for offices and homeschooling.

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Buyers Contracts New Listings Marketing 459

Housing Wire

SEPTEMBER 17, 2021

The bidding wars that put smiles on the faces of sellers and simultaneously drove buyers to rip their hair out weren’t as frequent in August, according to the latest report from brokerage Redfin. But buyers shouldn’t get too excited. In August, 58.8% and Salt Lake City at 68.1% and 35.7%, respectively.

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Buyers Real Estate Agent Real Estate Agents 456

Housing Wire

APRIL 30, 2021

“New construction has typically been a good option for buyers who don’t want to deal with bidding wars because builders don’t usually set deadlines for offers,” Miller said. We need these two things in order for buyers to have more choices and more reasonable price growth. ” However, the U.S.

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Buyers Mortgage Housing Market Construction 475

Housing Wire

MARCH 18, 2021

Home prices have skyrocketed in the past year, and data from Redfin backs up what buyers, sellers, and agents have known for months. “Buyers outnumber sellers by such a huge margin that many homeowners are staying put because they know how hard it would be to find a place to move to. The national average of home prices rose 14.4%

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Buyers Mortgage Sellers Appraisal 545

Housing Wire

APRIL 13, 2021

“If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”. Garrett said aside from cash buyers, he also has clients who have money to offset any appraisal gap. Either way, it puts the squeeze on property valuation.

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Housing Market Buyers Appraisal Real Estate Agent 535

Housing Wire

JUNE 23, 2022

Co-founded in 2019 by Tim Herman and Louis Wilson, the lender and “power buyer” allows homebuyers to make all-cash offers to compete with institutional investors. UpEquity earns a commission from brokering or selling the mortgage buyers take out to buy their homes.

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Buyers Mortgage Real Estate Investors 342

Sacramento Appraisal Blog

SEPTEMBER 21, 2021

Are buyers finally gaining more power? The truth is the market is still ultra-competitive, but there is a slightly better chance buyers can get into contract these days and maybe not pay as much above the asking price (maybe).

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Buyers Housing Market Marketing Contracts 460

Housing Wire

SEPTEMBER 3, 2020

Home-buyer purchasing power increased 6.9% year over year in July, this home-buyer purchasing power is essentially canceled out, data from Redfin shows. “Low of homes nationwide were affordable for a buyer with that budget, down from 71.9% But with home prices up 8.2% This July, only 70.6%

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Buyers Mortgage Inventory Marketing 515

Housing Wire

OCTOBER 5, 2021

Homeowners are able to track tours and buyer feedback on their home through the Redfin Owner Dashboard. When an ADT outfitted home is purchased through Redfin, the buyer keeps the pre-installed smart lock, ADT security panel, and sensors, which are valued at $899. customers sometime in the future.

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Buyers Agents Real Estate Sellers 398

Sacramento Appraisal Blog

MAY 5, 2021

“Buyers are crazy!!! How can they be paying these prices?” ” That’s what we tend to hear from people who are NOT trying to buy a house right now. It seems like onlookers really don’t understand what it takes to get an offer accepted these days. But for anyone actually in the game, the truth is […].

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Buyers Real Estate Housing Market Appraisal 461

Housing Wire

APRIL 8, 2021

. “As we look ahead to the expected growth in the purchase market, which will be driven by millennials and first-time home buyers, credit availability to qualified borrowers will play an important role in supporting this demand,” said Kan. metros, according to Zillow.

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Mortgage Buyers Housing Market Lending 521

Housing Wire

JANUARY 13, 2023

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. I really think until we see inventory move in our favor, it’s still going to be a tough market for a buyer. How does my payment look?

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Housing Market Buyers Real Estate Agent Mortgage 390

Appraisal Buzz

SEPTEMBER 12, 2022

While many in the housing market are predicting a shift in power to buyers’ favor, that switch may not be coming anytime soon to according to a recent NerdWallet report due to tempered demand due to higher mortgage rates. The post Affordability Decreases for First-Time Buyers appeared first on Appraisal Buzz.

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Buyers Appraisal Mortgage Housing Market 195

Housing Wire

AUGUST 3, 2021

But relief for buyers could be coming in the next 12 months. gain by this time next year, as ongoing affordability challenges deter potential buyers — as well as an uptick in new for sale listings. The post Home prices are still rising, but relief for buyers is coming appeared first on HousingWire. Home prices increased 2.3%

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Buyers Realtors Inventory Contracts 514

Housing Wire

APRIL 3, 2023

For example, a homebuyer who puts 5% down on a $350,000 home would have a loan of $332,500. If they work with a Rocket Homes partner agent, they’d receive nearly $5,000 toward their closing costs. (To ” Rocket says there are more than 20,000 partner agents through its Rocket Homes business.

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Mortgage Agents Real Estate Agent Buyers 401

Housing Wire

APRIL 25, 2023

The program is available for buyers who met the requirements and are purchasing a home in countries across 10 metropolitan areas. In March, Rocket expanded its special-purpose credit program to offer Freddie Mac ‘s BorrowSmart Access program, which provides a $3,000 credit for first-time homebuyers to use toward their downpayment.

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Buyers Mortgage Real Estate Agent Real Estate 301

Housing Wire

OCTOBER 21, 2021

As the COVID-19 pandemic has opened the possibilities of working remotely, more and more people are looking to buy a house in Vermont’s largest city, causing a huge swell in demand in an area that was already flush with prospective buyers. Buyers from across the country have set their sights on Burlington. “We

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Buyers Inventory Agents Realty 349

Housing Wire

JULY 9, 2021

But even though home prices are at record highs , buyers are still in the market. A buyer in Austin, Texas paid $1 million over a home’s listing price. According to the founder of The Agency Texas, Thomas Brown , the buyer was bidding for a home against multiple offers. In case you didn’t know, we’re living in a seller’s market.

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Buyers Real Estate Real Estate Agent Counter Offer 476

Housing Wire

JANUARY 25, 2023

Buyers who qualify in these metro areas can use the assistance to purchase a house anywhere in the U.S., In addition, the company will offer zero- and low-down-payment options to expand access to VA, USDA, HomeOne, HomeReady, Home Possible loans and home equity lines of credit (HELOCs).

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Buyers Mortgage Agents Insurance 376