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Buyers gaining power & farewell real estate honeymoon

Sacramento Appraisal Blog

Sellers haven’t had to negotiate much with buyers over the past two years, but that’s starting to change. Let’s talk about this today by looking at seller concessions (credits for repairs, help with closing costs, etc…).

Buyers 386
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Advice for Buyers & Sellers in Today’s Market

Ryan Lundquist

The housing market has shifted, and today I have some practical advice for buyers and sellers. This is coming from hundreds of conversations every month as well as stats I'm pulling. Some new memes too. Enjoy if you wish. UPCOMING (PUBLIC) SPEAKING GIGS: 8/11/22 Realtist Lunch & Learn (sign up here (open to anyone)) 8/15/22 YouTube

Sellers 746
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Buyers take power from sellers. It’s their turn.

Sacramento Appraisal Blog

Buyers are gaining power. Finally. And sellers are losing it. I have some new visuals to show what the market is doing right now. These are for Sacramento, but I suspect many areas look similar.

Sellers 394
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Spiking housing supply & fewer buyers

Sacramento Appraisal Blog

Finally. We’ve seen a massive change with housing inventory. But is it because sellers are rushing to list their homes? That’s not the culprit. Let’s talk about supply and some things on my mind about today’s market.

Buyers 348
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Buyers are making less aggressive offers

Sacramento Appraisal Blog

Buyers aren’t having to make aggressive offers like they used to (even when there are multiple offers). Good news. Let’s talk about this today. I suspect this is true in many areas across the country. I’d love to hear your take.

Buyers 336
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What Do Home Buyers Buy after Moving

Eyes on Housing

NAHB analysis of Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics shows that during the first year after closing on a home sale, home buyers tend to spend considerably more money on furnishings, appliances and remodeling compared to non-moving owners.

Buyers 171
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Are Home Buyers Regretting Their Purchase?

Cleveland Appraisal Blog

Below is a chart from the National Association of REALTORS article on home buyer regret. Some buyers may be relocating from a different state, and feel pressured to purchase a home sight unseen. It’s not that these pictures are meant to deceive buyers.

Buyers 227
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Buyers & sellers feeling stuck in the housing market

Sacramento Appraisal Blog

And some buyers are stuck in the future, […]. I love the original Back to the Future movie. Do you too? Well, I can’t help but think of today’s housing market compared to the film.

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What First-Time Home Buyers Really Want

Eyes on Housing

Among first-time home buyers, a laundry room ranked as the most popular of the more than 200 home and community features listed in the recent NAHB study, What Home Buyers Really Want, 2021 Edition.

Buyers 171
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Foreign buyers are avoiding American homes: NAR

Housing Wire

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. International buyers accounted for 2.8% billion worth of U.S.

Buyers 329
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Will we have a buyer’s housing market in 2021?

Housing Wire

If you’re looking to buy a home, you’ll stand the best chance in a buyer’s housing market, where listings are flush, demand is low and buyers have the upper hand — not to mention most of the negotiating power. A buyer’s market in 2021?

Buyers 429
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Buydowns become key for buyers to beat the market

Housing Wire

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. Erica Davis, Guild Mortgage loan originator and home buyer.

Buyers 392
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How to answer the top 4 questions buyers are asking right now

Inman

Agent Banking & Lending Buyers Tools Marketing Markets & Economy Mortgage New Agent Select Service Teams Amie Quirarte buyer questions working with buyers

Buyers 124
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Buyers Expect Less Housing Availability

Eyes on Housing

After a brief respite earlier in 2022, buyers’ expectations of housing availability soured again at the end of the year. In the final quarter of 2022, the share of buyers who expect the home search to get easier in the months ahead dropped to 24%, down from 37% in the third quarter.

Buyers 91
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As fundraising environment freezes, power buyer UpEquity cuts staff

Housing Wire

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.

Buyers 298
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How are appraisers handling concessions?

Sacramento Appraisal Blog

How are appraisers handling concessions to the buyer? Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market.

Appraisal 318
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Home Buyers Want Energy Efficient Windows

Eyes on Housing

Previous posts reported on home buyer preferences for kitchen and bath features, from NAHB’s recent study What Home Buyers Really Want, 2021 Edition.

Buyers 171
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Fewer Prospective Buyers Are Fully Engaged in Purchase Process

Eyes on Housing

Dwindling housing affordability in the fourth quarter of 2022 caused the share of prospective home buyers who are actively engaged in the purchase process (i.e. The share of prospective buyers fully engaged in the buying process declined in every region between the.

Buyers 141
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Meet the likely buyers of independent mortgage banks in 2023

Housing Wire

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. The 2023 buyer profile.

Buyers 350
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Prospective Buyers Are Quickly Becoming Active Buyers

Eyes on Housing

This increase marks the fifth consecutive year-over-year gain in the share of prospective buyers who have become active buyers.

Buyers 143
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As mortgage rates decline, the mantra is ‘no buyers left behind’ 

Housing Wire

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.

Buyers 387
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With mortgage rate volatility, buyers can save by shopping around

Housing Wire

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. “It’s The post With mortgage rate volatility, buyers can save by shopping around appeared first on HousingWire.

Buyers 385
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Relocation Trends for Buyers in 2022

Appraisal Buzz

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.

Buyers 311
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In the Bath, First-Time Buyers Really Want Both a Shower & Tub

Eyes on Housing

Among first-time buyers, both a shower stall and tub in the primary bath ranked as the most popular of the 18 bathroom features listed in the NAHB study, What Home Buyers Really Want, 2021 Edition.

Buyers 164
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Budgets Remain Constrained for Buyers

Appraisal Buzz

That’s the lowest share since May 2020 and the first time the bidding-war rate has been below 50% since that same month, when the housing market was at a … The post Budgets Remain Constrained for Buyers appeared first on theMReport.com.

Buyers 195
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Mortgage rates are projected to decline, but will that entice buyers?

Housing Wire

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. Mortgage loan originators don’t expect the Fed’s rate hike to impact buyers as much.

Buyers 300
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Soaring home prices are spooking buyers

Housing Wire

The post Soaring home prices are spooking buyers appeared first on HousingWire. Home purchase sentiment dropped 3.9 points to 75.8 in July as concerns about high home prices continued to scare off prospective homebuyers.

Buyers 390
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Buyers showing renewed interest in condos

Housing Wire

“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.

Buyers 371
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Homebuilders up the incentives to bring buyers to the table

Housing Wire

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.

Buyers 329
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Rising Rates Forcing Buyers Into Smaller Homes

Appraisal Buzz

As mortgage rates creep toward the 7%-mark, buyers still in the market are being forced to downgrade their options for a larger home, cutting more than 400-square feet out of the homes on the market. The post Rising Rates Forcing Buyers Into Smaller Homes appeared first on theMReport.com.

Buyers 195
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Mortgage buy downs on the rise as builders try to entice more buyers

Housing Wire

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.

Buyers 427
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Increased Cost of Homeownership Dampens Buyer Demand

Appraisal Buzz

home … The post Increased Cost of Homeownership Dampens Buyer Demand appeared first on theMReport.com. The post Increased Cost of Homeownership Dampens Buyer Demand appeared first on Appraisal Buzz.

Buyers 195
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Affordability Decreases for First-Time Buyers

Appraisal Buzz

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.

Buyers 195
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How auction buyer data foreshadows housing market shifts

Housing Wire

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. Behavioral buyer data from the foreclosure auction, therefore, acts as an early warning system for imminent market shifts. “We’re

Buyers 340
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Buyers viewed just eight homes before making their purchase

Housing Wire

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.

Buyers 364
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Redfin builds on app feature with ‘Favorites Lists’ for buyers, renters

Inman

Brokerage Inman Intel Technology apps for buyers homebuyers listing portals Redfin renters technologyRedfin's new website and app feature will allow homebuyers and renters to save their favorite properties in customized lists and share them with their home search partner to stay organized.

Buyers 130
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Buyers’ Expectations of Housing Availability Improve

Eyes on Housing

For the first time since 2020, prospective buyers expect housing availability to improve. Less competition from buyers priced-out of the market by recent increases in mortgage rates is.

Buyers 144
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Guaranteed Rate offering up to $8K in assistance to underserved buyers

Housing Wire

Buyers who qualify in these metro areas can use the assistance to purchase a house anywhere in the U.S., Chicago-based mortgage lender Guaranteed Rate launched a new program this week that will provide up to $8,000 in assistance to potential first-time homebuyers from underserved communities.

Buyers 319
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Top LO Ben Cohen thinks first time buyers will return to the housing market this year

Housing Wire

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. Kim: Lenders are rolling out mortgage products that make it more affordable for buyers.

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47% of Home Buyers Want an Exercise Room

Eyes on Housing

NAHB’s latest survey on consumer preferences – What Home Buyers Really Want – asked recent and prospective buyers about the desirability of an exercise room in the home. Results show that 47% of buyers rate an exercise room essential or desirable.

Buyers 160