Housing Wire

AUGUST 16, 2023

Meanwhile, permits for future construction eked a 0.1% Meanwhile, there are just over one million multifamily units under construction, a record. Developers and construction companies seem to “have come to terms with the affordability challenge and have been erecting smaller homes at more approachable prices this year,” said Ratiu.

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Construction Insurance Housing Market Brokerage 273

Housing Wire

MAY 31, 2023

California markets like the ones listed above already face a number of challenges, but news over the weekend could make it even more challenging for buyers. Well, State Farm last week announced that it would halt home insurance sales in California. State Farm is the nation’s largest car and home insurer by premium volume.

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Insurance Clients Marketing Housing Market 334

Housing Wire

JANUARY 22, 2024

Construction Coverage , a company that reviews construction software, insurance, and financial products in order to assist property builders, recently released a new report taking a closer look at the divide between baby boomers’ and younger generations’ shares of metropolitan housing markets according to reporting at the Chicago Sun-Times.

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Housing Market Marketing Construction Insurance 327

Housing Wire

MAY 14, 2024

Another issue is home sellers’ bias against buyers using FHA loans, where offers from non-FHA borrowers are often selected even though lower in price. CHLA commends FHA for its work on its “Mythbusters” initiative, designed to blow up the myths around FHA loans by educating lenders and home sellers.

Sellers 308

Sellers Realty Insurance Realtors 308

Housing Wire

FEBRUARY 3, 2023

Recent data on unemployment insurance claims have indicated a stronger job market than the string of layoff announcements from the technology and financial sectors would suggest.” The construction sector added 25,000 jobs in January thanks to a big uptick in the number of specialty trade contractors (up 21,900 jobs).

Housing Market 341

Housing Market Marketing Construction Real Estate 341

Housing Wire

MARCH 28, 2024

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit. Yet help might be on the way.

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Business Finance Buyers Lending 412

Housing Wire

JANUARY 8, 2021

On average, closing costs equal about 1 to 4% of your home’s value, which isn’t something most home buyers are usually aware of. In fact, according to a study conducted by Wilson Perkins Allen Opinion Research, 50% of buyers were “surprised” by how much they were charged at closing. Homeowner’s Insurance.

Property Taxes 525

Property Taxes Insurance Real Estate Mortgage 525

Housing Wire

MARCH 28, 2022

Similarly, companies like Zillow and Trulia launched in 2005 and 2006 as “real estate search engines” to help buyers more easily find a home online. Having everything in-house enables iBuyers to lower closing costs for buyers and sellers, offer real-time, 24/7 customer support and provide unique financing solutions for buyers.

Real Estate 374

Real Estate Marketing Insurance Buyers 374

Lamacchia Realty

NOVEMBER 8, 2023

6 SMART STRATEGIES TO LOWER YOUR HOME INSURANCE COSTS Anyone who owns a house understands just how important home insurance is – it protects what is most people’s most significant investment. When unexpected disasters or damages strike, home insurance can be the key to getting back on track in the aftermath of tragedy.

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Insurance Market Value Realty Investing 65

Housing Wire

FEBRUARY 15, 2024

For that group, the median monthly cost of owning a home — which includes insurance and property taxes, among other things — is just over $600 (similar to the monthly cost for other generations with no outstanding mortgage, but other generations are far less likely to own homes free and clear),” the report stated.

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Property Taxes Insurance Construction Inventory 453

Housing Wire

APRIL 9, 2024

Last week, we wrote a Letter to FHA , offering constructive suggestions to ensure a level playing field between borrowers where the seller agrees to fund buyer brokerage commissions and where the seller doesn’t.

Sellers 434

Sellers Realty Insurance Realtors 434

Housing Wire

APRIL 13, 2022

As a driver of the economy, housing should be bolstered by: Non-bank lending institutions to lend in lower-income areas and to minorities in the same way that CRA provides for banks Reducing government-insured and guaranteed mortgage loan fees. Increasing the supply of legal immigrant construction workers would accelerate economic growth.

Insurance 375

Insurance Construction Government Lending 375

Housing Wire

APRIL 1, 2024

DBRS Morningstar’s rating of the $224 million securitization opened up new types of bond buyers that have inherently lower costs of capital, Saluda Grade CEO Ryan Craft said. There’s a lot more capital in the picture — in particular, insurance capital — which needs the rating for them to buy the bond,” Matthews said. “So,

Finance 389

Finance Investing Real Estate Agent Real Estate 389

Housing Wire

MARCH 22, 2024

Part of our value as professional real estate agents is helping guide buyers through the process, using our expertise and first-hand experience. We’ve compiled this house-hunting checklist you can review with your buyer clients to help them better understand the home-buying process. I used to play a fun game with my buyer clients.

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Real Estate Agent Real Estate Clients Agents 396

Housing Wire

MARCH 21, 2022

Construction-only loans. A loan is not wrapped under RESPA if it is a construction-to-permanent loan. Custom homes are frequently developed, and the site is used as security for a short-term construction loan to complete the project. However, RESPA applies to a construction-to-permanent loan inside one bundle.

Real Estate Agent 313

Real Estate Agent Real Estate Agents Construction 313

Housing Wire

JANUARY 10, 2022

Sellers saw a market where their homes sold quickly and often above list price as multiple buyers competed to have the winning bid. . Higher mortgage rates and home prices are expected to moderate buyer demand as the erosion of affordability takes a toll. The event is exclusively for HW+ members , and you can go here to register.

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Housing Market Marketing Construction Inventory 545

Housing Wire

APRIL 26, 2023

To achieve deal flow, loan officers have been forced to come up with creative ways to persuade buyers they can make the deal work, half a dozen of mortgage professionals interviewed by HousingWire said. There are also advantages to working with buyers in a less competitive marketplace.

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Loan Officers Mortgage Inventory Clients 391

Housing Wire

JUNE 23, 2021

A downpayment can be a major barrier for first-time buyers—student debt, stagnating wages, and the increasing cost of rent all make it difficult to save. For example, today’s historically low mortgage interest rates offer buyers more spending power. And, a first home becomes a stepping-stone for first-time buyers to build wealth.

Housing Market 392

Housing Market Marketing Construction Insurance 392

Housing Wire

MAY 12, 2021

And for those who still want to build a home from scratch, rising construction costs , limited lot sizes, and excessive red tape can make the process seem insurmountable. Considering how much construction technology, materials, and techniques have evolved, building a new home should be far simpler than it is. Opportunities to innovate.

Construction 450

Construction Logistics Technology Real Estate 450

Appraisal Buzz

SEPTEMBER 26, 2022

Pent-up housing demand, low-interest rates and new buyers have also added to the crisis. Building entire neighbors can encourage large-scale construction. Immigration policies can impact construction because the industry relies on them for labor. million migrant workers in construction. Increase Buyer’s Confidence.

Construction 195

Construction Supply Chain Buyers Retail 195

Housing Wire

DECEMBER 28, 2021

In fact, Paradise’s housing market, though constrained by unresolved wildfire litigation and issues like proper home insurance, even has the high-demand, low inventory problems of most other U.S. But prospective home buyers are still facing a competitive market. Local agents are slowly seeing new construction listings pop up.

Insurance 324

Insurance Realty Agents Construction 324

Housing Wire

MAY 10, 2023

Indexes that contributed to the annual increase were food (+7.7%), motor vehicle insurance (+15.5%), household furnishings and operations (+5.3%), recreation (+5.0%), and new vehicles (+5.4%). Major contributors to this increase included used cards and trucks (4.4%), motor vehicle insurance (1.4%), and energy (+0.6%, thanks to a +3.0%

Housing Market 357

Housing Market Insurance Realtors Buyers 357

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. BH: What are you expecting to see in terms of demand for new construction heading into 2023?

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Supply Chain Construction Inventory Finance 368

Housing Wire

JULY 27, 2023

For buyers of a median-priced home, the monthly mortgage payment—assuming a 20% down payment—amounts to about $2,300, not including property taxes and insurance,“ said Ratiu. Some buyers have turned to new construction to secure a home, and builders are ramping up their workforces to complete projects.

Mortgage 326

Mortgage Property Taxes Housing Market Buyers 326

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.

Real Estate 36

Real Estate Buyers Sellers Insurance 36

Housing Wire

SEPTEMBER 14, 2023

After more than a decade of under-building relative to population growth, there are simply not enough affordable entry-level and first-time move-up options available for buyers. housing market is short by at least 6.5 million homes. Renters are finding themselves priced out of areas within a reasonable commuting distance to work.

Tenants 371

Tenants Government Law Buyers 371

Housing Wire

JUNE 21, 2022

Yes, there are some government programs that provide construction components on permanent loans, but they are not ideal for inexperienced home buyers. of all flipped homes in Q3 2021 went to FHA buyers. FHA loans are insured by the Federal Housing Administration and have less stringent down payment and credit requirements.

Investors 396

Investors Renovations Inspection Government 396

Assurance Financial

SEPTEMBER 28, 2021

Buying new construction is slightly different from buying an existing home in another way. The rules for loans and financing for new home construction aren’t exactly the same as they are for buying homes that already stand. FAQs About Home Construction Loans. Curious about the process of getting a construction loan?

Construction 36

Construction Finance Insurance Government 36

Housing Wire

FEBRUARY 3, 2022

The “Big Four” take on the upstarts in title insurance. A potential strategy for 2022 will likely depend on whether the market transitions to a purchase-heavy mortgage market, understanding why people buy homes and implementing an effective system to work with potential buyers. What are the drivers of housing demand in 2022?

Housing Market 404

Housing Market Marketing Supply Chain Mortgage 404

Housing Wire

MAY 8, 2023

That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction. When including the approximately 900,000 single family homes constructed by new homebuilders during the year, according to data from the Census and U.S. In 2019 the number was 200,000.

Inventory 385

Inventory Renovations Supply Chain Buyers 385

Will Springer Realtor

NOVEMBER 29, 2022

How do you know if your home has enough insurance coverage? About six in 10 homeowners are insufficiently insured, according to CoreLogic, a property data research firm. That’s roughly 51M homeowners currently underinsured, and CoreLogic estimates homes are insured at about 73% of the actual property value.

Insurance 36

Insurance Construction Finance Home Improvement 36

Housing Wire

MARCH 19, 2021

Those investments include the sale of SunStreet solar and stakes in insurtech firms Hippo Home Insurance and Doma (formerly known as States Title ). Lennar’s focus on its strategic investments and homebuilding comes amid historic inventory lows , construction worker shortages, near-record low mortgage rates and incredible demand.

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Development Investing Business Construction 523

Housing Wire

MARCH 26, 2024

The inventory shortage — in addition to high financing costs tied to elevated interest rates and related inflation for construction expenses — led to a nearly 30% decline in home flips in 2023, according to real estate data firm Attom. For example, there were 50,000 new homes constructed by builders last year in Dallas-Fort Worth,” he said.

Investors 438

Investors Marketing Inventory Real Estate 438

Housing Wire

APRIL 24, 2023

The program helped a generation of Americans purchase their first home, however, due to a government policy known as “red-lining,” banks were effectively prohibited from issuing FHA-insured loans in neighborhoods that were predominantly Black or Hispanic. Lower homeownership rates mean there will be fewer buyers.

Legal 336

Legal Housing Market Government Buyers 336

Birmingham Appraisal

MAY 1, 2024

The scope of work includes the materials of construction as well as the changes that will be made to a house. Some of the key factors an appraiser considers when performing this type of appraisal include the functional utility of the home, the amount of heated and cooled square footage, and the materials and quality of construction.

Renovations 82

Renovations Appraisal Real Estate Agent Construction 82

Housing Wire

FEBRUARY 1, 2023

FBC Mortgage recorded originations of about $8 billion in 2022, including its joint venture volume, Nunziata said, adding that about 70% of that volume “was new construction.” You can see that’s a really big impact for that first-time buyer, giving them the ability to kind of ease into that payment.” in November, down from a 9.2%

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Marketing Government Mortgage Sellers 404

McKissock

JULY 26, 2022

As a buyer agent , it is your job to be the voice of reason, the buffer, and sometimes the peacemaker. Here are some tips on how to make the real estate transaction process as smooth as possible for you and your buyer clients. Constructing a real estate offer is an art. Property insurance. Competing with other buyers.

Real Estate 81

Real Estate Counter Offer Buyers Inspection 81