Housing Wire

FEBRUARY 7, 2023

And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate.

Mortgage 370

Mortgage Loan Officers Government Buyers 370

Housing Wire

NOVEMBER 1, 2023

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” The guys who are doing buyouts now are going to be buying with their own cash,” he said. “I

Mortgage 432

Mortgage Loan Officers Finance Buyers 432

Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. In addition, homebuyers might have to deal with sellers who are reluctant to sell their homes to DPA borrowers.

Mortgage 440

Mortgage Buyers Loan Officers Sellers 440

Realtor

SEPTEMBER 13, 2023

“The homeowner, loan officer, and often the real estate agent work together to find better comparable market data to justify a higher valuation,” says Casey Fleming , a mortgage adviser and author of “ The Loan Guide: How to Get the Best Possible Mortgage.” . In fact, it’s a total team effort. ” 4.

Appraisal 193

Appraisal Sellers Real Estate Agent Valuation 193

Housing Wire

APRIL 13, 2021

Putting a home on the market on a Friday or Saturday is risky, since potential buyers may have already filled their weekend with other home tours, said Redfin Chief Economist Daryl Fairweather. “And listing on a Sunday or Monday means buyers may lose interest before the following weekend,” Fairweather said.

Sellers 404

Sellers Buyers Real Estate Agent Real Estate 404

Appraisal Buzz

MAY 17, 2021

Prices were escalating quickly, and buyers were purchasing in a frenzy for fear of being left behind and not being able to get their foot on the property ladder. As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up. How do we combat this?

Appraisal 418

Appraisal Clients Real Estate Sellers 418

Housing Wire

DECEMBER 27, 2022

.” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.

Housing Market 501

Housing Market Marketing Real Estate Agent Real Estate 501

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Don’t drink the Kool-Aid that any contract price is reflective of market value. I remember loan officers telling me that I needed to be “creative” with my appraisals. I kid you not!

Inventory 243

Inventory Market Value Appraisal Contracts 243

Realtor

OCTOBER 16, 2023

for first-time buyers is $12,274 (around 6%), in addition to $1,983 in closing costs. “Buyers may not be able to even see a home without providing a copy of their pre-approval letter just to schedule an appointment,” says Ameer. down,” says Yifan Zhang , CEO of the host-to-own homebuying program Loftium.

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

Miller Samuel

FEBRUARY 12, 2019

In ’09, Miller said sellers were anchored to the “pre-Lehman, pre-financial crisis asking prices” and had to travel farther on price to meet a buyer. Miller said there are more buyers today compared to 2009, but those buyers are “very jaded about what value is.” In 2018 the discount was 5.2%. That process can take time.

Marketing 221

Marketing Real Estate Appraisal Sellers 221

Eppraisal

APRIL 20, 2021

It's a sizzling, fast-paced seller's real estate market right now. A full pre-approval is when a mortgage loan officer pulls your credit, verifies your employment and income, has your complete application and has all the required documents from you. Your loan officer may even put your file through an initial underwriting.

Sellers 66

Sellers Loan Officers Inventory Home Value 66

McKissock

JANUARY 18, 2022

Dale Schaechterle, the founding partner and CEO at Realty Executives Integrity , shares with Forbes that the services of a good real estate agent are essential for a first-time home buyer given the complicated network of mortgage rates and tax laws that they will have to navigate. How far will their budget truly go? Answer Questions.

Real Estate Agent 96

Real Estate Agent Real Estate Agents Buyers 96

Cornerstone

JULY 1, 2021

Here’s an overview of why selling your house now may be optimal: Because inventory is so tight and demand is so high, buyers are competing for limited listings as homes fly off the market. Sellers who list may find a golden opportunity: Right now, you’re likely to sell your house quicker and at a better price.

Sellers 61

Sellers Buyers Real Estate Agent Inventory 61

PennyMac

MARCH 4, 2024

Starting the Loan Certification Process When choosing a lender, look for one that offers a written letter or certification you can provide to sellers to let them know you are qualified. You’ll have peace of mind knowing your borrowing limit and be able to show realtors and sellers that you’re serious about purchasing.

Loan Officers 65

Loan Officers Insurance Mortgage Sellers 65

Genworth MI Blog

AUGUST 31, 2022

With an increasingly competitive market for buyers, many homebuyers have taken new steps to secure a successful offer. More buyers began purchasing homes as-is, waiving repairs. Some buyers have even gone a step further by waiving inspections altogether. Q: What are the concerns with buyers waiving inspections? .

Inspection 78

Inspection Appraisal Marketing Appraisal Process 78

PennyMac

JULY 20, 2021

She encourages buyers to make sure that the agent they choose has the necessary experience to guide them through anything they may encounter. Find an agent who really understands the different contracts you need and how to properly fill them out, the legal obligations you’ll run into, and the financial side of the business.

Real Estate Agent 69

Real Estate Agent Real Estate Agents Sellers 69

Assurance Financial

DECEMBER 20, 2021

In a traditional home sale, the seller lists the house for a price that will cover the following costs: The mortgage’s remaining costs. Existing home equity loans or home equity lines of credit (HELOCs), if applicable. After taking care of the above expenses, whatever amount is left over is the seller’s profit.

Mortgage 74

Mortgage Sellers Buyers Finance 74

Cornerstone

MAY 4, 2021

If you’re considering selling, your first step might be to begin looking into which remodeling projects may make your home more attractive to buyers. But before you sign any contracts, keep in mind that there’s something unique going on in today’s housing market. There aren’t enough houses to meet buyer demand.

Renovations 41

Renovations Home Improvement Loan Officers Real Estate Agent 41

Birmingham Appraisal

SEPTEMBER 15, 2022

Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. Some examples of this are buyers purchasing a home, owners refinancing a home, and clients who are building a home. Appraisal vs Home Inspection.

Appraisal 91

Appraisal Inspection Appraisal Process Real Estate Agent 91

Housing Wire

AUGUST 4, 2023

Yes, you should certainly be able to post an impressive listing and understand the ins and outs of closing, but helping buyers and sellers means cultivating a diverse set of skills to navigate a complex and ever-changing real estate market. Here are 10 essential skills every real estate agent should possess.

Real Estate Agent 350

Real Estate Agent Real Estate Agents Clients 350

McKissock

APRIL 20, 2021

Receive basic training in contracts and how to price properties using comparative marketing analysis. Meet with/learn from service providers such as loan officers, title companies, attorneys, home warranty, and insurance companies. Refer buyers and sellers out to other agents locally and across the country.

Real Estate Agent 98

Real Estate Agent Real Estate Agents Realtors 98

Cornerstone

OCTOBER 26, 2021

In the past few months, it’s become commonplace for an appraisal to come back under a home’s contract price. As CoreLogic’s Chief Appraiser Shawn Telford explains : “Recently, we observed buyers paying prices above listing price and higher than the market data available to appraisers can support. Lean on your loan officer for guidance.

Sellers 57

Sellers Buyers Appraisal Loan Officers 57

PennyMac

JUNE 28, 2022

More specifically, closing costs are fees that you (as the buyer) will pay to third parties who have performed services for purchasing your home. Closing costs can apply to both the buyer and seller. Most of the fees involved in closing costs apply primarily to the buyer, so usually the buyer pays most of the closing costs.

Insurance 36

Insurance Property Taxes Sellers Inspection 36

PennyMac

OCTOBER 12, 2022

Borrows who pursue loan pre-qualification may receive a pre-qualification letter which they can share with real estate agents or home sellers as proof that they are working with a licensed lender. What Information Do I Need to Pre-Qualify for a Home Loan? Pre-approval , on the other hand, is more official.

Real Estate Agent 36

Real Estate Agent Real Estate Sellers Loan Officers 36

Cleveland Appraisal Blog

MARCH 30, 2021

TODAY’S HOME BUYERS ARE LIKE THE CARP. Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. This year, it appears that buyer panic is even worse than last year. That is a lot of bread!

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Town & Country Residential Appraisals

JANUARY 24, 2020

If you ever experience this from a loan officer, feel free to report this behavior to the CFPB here. They always come in at exactly the contract price. If agents have done their job, then the contract price should be close to the market value.

Appraisal 36

Appraisal Market Value Contracts Clients 36

Housing Wire

MAY 10, 2023

For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity. This has serious consequences for real estate agents and loan officers alike, since it’s usually a zero sum game. One home recently had over 60 offers!

Marketing 345

Marketing Loan Officers Inventory Real Estate Agent 345

PennyMac

DECEMBER 22, 2020

Many potential homebuyers and investors overlook bank-owned properties, but for buyers who take the time to understand the REO process, these homes can be a significant opportunity. Step 3: Find a Real Estate Buyer’s Agent Who Knows REO Homes. Depending on the lender, you may need to submit special contract forms or paperwork.

Inspection 69

Inspection Real Estate Agent Real Estate Agents 69

PennyMac

APRIL 2, 2020

Getting this first step in the loan process completed before you start looking at homes will ensure that you are ready to make an offer (and succeed!) Plus, some sellers will only consider offers from buyers who are pre-approved, so it’s best to set yourself up for success with this easy move.

Real Estate Agent 36

Real Estate Agent Inspection Sellers Real Estate 36

Housing Wire

MAY 31, 2022

increase year over year for properties under contract, indicating that demand in the city remains strong,” said Elizabeth Anne Stribling-Kivlan, Compass’ senior managing director. The expansion comes amid a surge in mortgage rates and declining loan origination volume. Nationally, there was a year-over-year decrease of 2.3%

Mortgage 382

Mortgage Construction Lending Real Estate 382

Housing Wire

JULY 19, 2023

It [publicity] helps the advisors, and it helps the [loan-officer] recruiters, but it doesn’t exactly help the buyer and seller trying to get settled in a transition of the assets of the company.” Hale added that at this time, “buyers have the upper hand.” “I

Mortgage 368

Mortgage Marketing Buyers Lending 368

Appraisal Today

SEPTEMBER 15, 2023

May a representative of the lender provide an appraisal management company a list or a panel of appraisers to use for loans involving a specified mortgage broker, real estate agent, or loan officer? This typically happens when an appraiser turns in an appraisal with an appraised value opinion lower than the sale contract price.

Appraisal 85

Appraisal Real Estate Agent Contracts Real Estate 85

Housing Wire

SEPTEMBER 21, 2023

We did a study with T360 recently, just looking at the agent experience and we came back with about 20 different point solutions that an agent has to use just to perform their duties in representing a buyer or seller of a home. And, frankly, give them more time in the day to spend with their buyer or seller.

Technology 365

Technology Real Estate Agents Design 365

Realtor

DECEMBER 15, 2016

AndreyPopov/iStock Buying real estate often requires some serious haggling between home buyer and seller, to arrive at a price that they’re both willing to accept. If you’re a buyer who needs a mortgage , most lenders will require that you obtain a home appraisal. How appraisals affect the sale. Appeal the appraisal.

Appraisal 78

Appraisal Real Estate Agent Real Estate Mortgage 78

Realtor

DECEMBER 15, 2016

AndreyPopov/iStock Buying real estate often requires some serious haggling between home buyer and seller, to arrive at a price that they’re both willing to accept. If you’re a buyer who needs a mortgage , most lenders will require that you obtain a home appraisal. How appraisals affect the sale. Appeal the appraisal.

Appraisal 78

Appraisal Real Estate Agent Real Estate Mortgage 78

Appraisal Today

JANUARY 12, 2024

Ignoring market conditions adjustments makes us look incompetent to buyers, sellers, lenders, Realtors, and the general public. The small rate declines expected will aid affordability to a minor degree after the surge in housing costs for buyers in 2022–2023. from 0.41 (including the origination fee) for 80 percent LTV loans.

Appraisal 69

Appraisal Contracts Mortgage Marketing 69

Appraisal Today

OCTOBER 14, 2022

I’m always looking for something new ;> Nearly Two-Thirds of Homebuyers and Sellers Are Hesitant to Move Somewhere With Climate Risk. Meanwhile, 15% of buyers and sellers said climate change caused them to search in a different part of their area. from 0.79 (including the origination fee) for 80 percent LTV loans.

Appraisal 52

Appraisal Insurance Real Estate Business 52