Housing Wire

JANUARY 25, 2023

Long-term mortgage rates responded by rising from 3.25% in early 2022 to over 7.25% in October 2022, more than doubling. Mortgage interest rates The unrelenting Fed policies to combat inflation will eventually instigate an economic recession sometime in 2023. As inflation eases, so will long term mortgage rates. The overall U.S.

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Housing Market Marketing Inventory Sellers 424

Housing Wire

JANUARY 16, 2024

Redfin attributes these divides to a variety of factors , the most salient of which is that over half (54%) of baby boomers who own homes have no mortgage and those who do have a mortgage have a much lower interest rate than the rate they would end up with if they sold and bought today.

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Inventory Home Value Mortgage Buyers 464

Housing Wire

NOVEMBER 18, 2022

Existing home sales last month declined 5.9% That’s the largest year over year existing home sales decrease since 2007. More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement.

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Housing Market Marketing Inventory New Listings 414

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

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Housing Market Marketing Insurance Mortgage 442

Housing Wire

MARCH 29, 2023

“Homebuyers have been closely watching mortgage rates, which have been volatile during the first few months of the year,” said Lisa Sturtevant, chief economist for Bright MLS. Even though rates ticked up in February, some buyers took the plunge anyway, anxious that mortgage rates would be moving even higher this spring.”

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Contracts Realtors Home Value Housing Market 302

Boston Appraisal

JANUARY 18, 2023

The Rise in Interest Rates and How It Affects Buyers and Sellers When the COVID-19 pandemic began in early 2020, the Federal Reserve was quick to act by substantially reducing interest rates, which resulted in many new buyers entering the market to purchase a home at low rates. This affected buyers and sellers.

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Sellers Buyers Home Value Marketing 78

Housing Wire

JULY 29, 2022

The finding was equally confounding on the other side of the distribution where house price growth was weakest; though home values dropped by at least 10% in each of the 10 coldest markets, the number of homes added to the for-sale inventory increased in eight of them. increase to 6.7%

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Housing Market Sellers Marketing New Listings 404

Housing Wire

FEBRUARY 1, 2023

Rob Nunziata , co-CEO and co-founder of Florida-based FBC Mortgage , says one mortgage sweetener that holds out some promise for making houses more affordable for a broader swath of borrowers is the temporary rate buydown. “It Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range].

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Marketing Government Mortgage Sellers 404

Housing Wire

JUNE 10, 2022

His recent article, “Purchase apps are at 2009 level: where’s the inventory?” takes a deep dive into what the heck is going on with purchase applications, housing demand and inventory levels. This article, for example, asks why, if purchase applications are down to 2009 levels, are inventory levels still so freaking low?

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Sellers Inventory Housing Market Buyers 382

Housing Wire

MAY 25, 2021

Phoenix saw a 20% year-over-year home price increase, followed by San Diego with a 19.1% Home price data is consistent with the hypothesis that COVID-19 has encouraged potential buyers to move from urban apartments to suburban homes,” Lazzara said. increase and Seattle with a 18.3%. Presented by: MCT.

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Supply Chain Inventory Buyers Construction 404

Housing Wire

APRIL 7, 2021

Inversely, data from Zillow showed for-sale inventory climb the highest in four major real estate markets – Los Angeles, Chicago, San Francisco, and New York. “The pandemic has catalyzed purchases by millennial first-time buyers, many of whom can now work from anywhere.” and Austin. Presented by: Propertybase.

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Housing Market Marketing Real Estate Technology 545

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. It only takes a few bad appraisers doing this kind of thing to cause home prices to artificially inflate. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008.

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Inventory Market Value Appraisal Contracts 243

Housing Wire

MAY 9, 2022

housing market is more tied to mortgage buyers. Unlike those two cities in Canada, we aren’t as reliant on foreign buyers to such a great extent. foreign buyers have always been less than 300,000 of total home sales for many years. When mortgage rates rise, two things always happen here in America.

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Buyers Housing Market Mortgage Marketing 527

Housing Wire

MARCH 9, 2021

“Significant gains in home values fueled equity gains from 2019 to January 2021 for homeowners of all races,” the press release stated. In the predominantly Black areas of Chicago, people who bought homes experienced an enormous percentage equity gain of 750% from 2019 to January 2021. Newark and Washington, D.C.

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Home Value Market Value Brokerage Inventory 471

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. million homes bought and sold in the U.S. According to data from Statista , there were roughly 5.95 last year.

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Loan Officers Real Estate Agent Real Estate Finance 393

Housing Wire

APRIL 9, 2021

Residential brokerage and mortgage lender William Raveis is buying its clients’ homes across New England, the tri-state area and Florida. WRRE also will help them buy, finance and insure their next home purchase, with mortgage closing times in as few as eight days, considerably faster than the industry average.

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Brokerage Real Estate Clients Insurance 404

Eppraisal

OCTOBER 31, 2023

   Property Valuation Your home value is the primary determiner of your asking price. Unless you’re desperate to sell and willing to accept less than what you still owe on your mortgage, price your house based on what these sources say it should be worth. Pay attention to rental inventory, too.

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Marketing Real Estate Agent Real Estate Valuation 69

Eppraisal

DECEMBER 9, 2021

This past year we have experienced an unprecedented lack of real estate inventory available for sale leaving pent-up buyer demand. Houses are selling in record time and prices have risen at unbelievable rates; homeowners are experiencing nice increases in home values. Sellers should be happy with VA loan buyers.

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Sellers Buyers Home Value Insurance 36

Eppraisal

MARCH 17, 2023

From COVID-19 interventions to supply chain disruptions to record inflation, the hits kept coming against a real estate market that was already experiencing diminished inventories and a growing pool of buyers. Prior to COVID, i.e. March of 2020, inventory was already falling. Where Have We Been? Where Do We Stand Now?

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Supply Chain Home Value Inventory Construction 69

Eppraisal

JANUARY 28, 2022

The United States housing market will continue to struggle with a low inventory of homes available for sale in 2022. Long-term mortgage financing is economical. So, if the market begins to drop, there are plenty of first-time homebuyers and buyers looking to upgrade to more expensive and larger homes that will step in.

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Marketing Home Value Real Estate Housing Market 68

Quicken Loans

DECEMBER 16, 2021

Mortgage rates dropped down to record lows that carried through much of 2021. In addition, home values and sales skyrocketed. So, it’s no wonder that a year like that left experts and new buyers guessing. Buyer demand continued. For anyone interested in buying a home , real estate is still in high demand.

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Housing Market Marketing Inventory Real Estate 78

Empire Appraisal Group

APRIL 21, 2022

However, economists say that buyers may soon see relief with expectations of more inventory coming that could help relieve some of the pricing pressures. Housing inventory is expected to hit positive territory year over year this summer, according to realtor.com®’s ®’s latest Monthly Housing Trends Report. ®’s report.

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Inventory Buyers Construction Realtors 78

Hank Miller Team

MARCH 6, 2024

There was pain of course, many buyers were eliminated and the withdrawals from those low rates is still being felt. We now have fewer buyers, less chaos and more time for buyers to consider their purchase. The reduced buyer pressure and less competition (in some cases) allows for a more deliberate approach. in Feb '22.

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Real Estate Sellers Buyers Inventory 52

Lamacchia Realty

FEBRUARY 22, 2022

The Pandemic has caused mortgage rates to linger around the 3% range for a while now after having initially dipped into the high twos in what was a historically low number. The lower rates helped keep homes affordable despite the rising prices. Image Source. An eighth of a point increase (.125%) That’s the cost of waiting.

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Mortgage Realty Home Value Inventory 65

Eppraisal

MARCH 13, 2021

The real estate market is hot right now with pent-up buyer demand from 2020. According to the National Association of Realtors, the inventory of available homes on the market set a record at the end of 2020 as being the lowest since 1999. They work extra hard for the buyers they have an Exclusive Buyer Broker Agreement with.

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Buyers Brokerage Contracts Home Value 36

Cleveland Appraisal Blog

APRIL 29, 2021

That does not cost a lot and it instantly “lifts” the appearance of your home. It also makes it more likely that appraisers and buyers overlook or do not notice previous damage. If there is something I’ve learned, especially this year, it’s that outdoor space is critical for buyers and for the overall value of the house.

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Appraisal Investing Buyers Renovations 249

Eppraisal

OCTOBER 19, 2021

This is due to low interest rates, historically low inventory and more than usual buyers flocking to the market, thus, homes have been selling in record time. As a result, home values have been increasing. Buyers are offering sellers prices considerably above list price in many cases.

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Appraisal Contracts Sellers Home Value 66

Eppraisal

AUGUST 9, 2022

Back then the economy dove down into a deep recession and home values plummeted. Here are a couple key differences from the last Recession: Home Prices Still Increasing The past few years homeowners have been enjoying property value increases. Inventory levels continue to rise which is slowly balancing out the market.

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Real Estate Inventory Home Value Buyers 36

Eppraisal

APRIL 20, 2021

Due in part to the inventory of available homes for sale being historically low, it was low at the end of 2019 and continues to drop. According to a homebuyinginstitute.com article, in February of 2021, there were fewer home for sale than in February 2020. With limited inventory, home values are on the rise.

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Sellers Loan Officers Inventory Home Value 66

Eppraisal

DECEMBER 14, 2021

High demand and low inventory have lifted home prices nearly 20 percent over what they were in the autumn of 2020. This fact will give hope to buyers for the long term but what about the more immediate future? Young families are in need of housing so forbidding economic conditions will not be enough to postpone a home purchase.

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Real Estate Supply Chain Marketing Inventory 67

Eppraisal

APRIL 5, 2021

Although the real estate market was not immune from the effects of business shutdowns and curtailments in 2020, neither was it hobbled: unprecedented low mortgage rates; strong millennial demand; and the flight from city to suburbs hastened buying and selling in America. Buyers should exploit the low financing rates.

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Marketing Mortgage Finance Home Value 36

Eppraisal

JUNE 8, 2021

Record sales, high prices, and lots of competition are only a few of the many challenges' buyers are facing in today's market. Here's what to be prepared for: Competition Inventory is at its lowest point in many years. Prices Too High Home values are rising. They want buyers who have a good-sized down payment.

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Marketing Sellers Buyers Home Value 69

Eppraisal

OCTOBER 25, 2022

Prices and home values typically increase in the spring and summer as well. Home Prices and Interest Rates A portion of buyers on the market in the spring and summer ended up being priced out of the market as home values jumped double digit percentages year over year. Appeal to buyers' senses.

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Real Estate Buyers Decorating Sellers 36

Eppraisal

SEPTEMBER 22, 2021

According to an article on Bankrate.com, written by Jeff Ostrowski, "Mortgage rates plumbed to new depths in January 2021, setting all-time lows south of 3 percent." The inventory of homes available are historically low as well. The inventory of active listings is still down 52.8% There weren't near as many buyers.

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Real Estate Marketing Inventory Home Value 45

Cornerstone

SEPTEMBER 3, 2021

A housing inventory shortage. Thankfully, housing inventory levels have slowly begun to rise. The recent Monthly Housing Market Trends Report from realtor.com states: “In July, newly listed homes grew by 6.5 For buyers desperately in need of more listings, this is exciting news. Bidding wars and high buyer competition.

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Housing Market Marketing Inventory Loan Officers 49

Cornerstone

APRIL 30, 2021

Spring home sales should be speedier. Here’s a quick recap of why selling can be a smart move this spring: Springtime normally shows an influx of buyer activity. NAR’s recent Existing Home Sales report showed that pre-spring home sales were up 23.7 Spring is a favorable season for move-up buyers.

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Sellers Buyers Inventory Loan Officers 66

Eppraisal

DECEMBER 6, 2022

An array of factors influences the home value, mortgage interest rate, fees and timing of these exchanges. In this post, we talk about how issues near and far play a role in home sales. Similarly, higher rates might price some purchasers out of receiving mortgage loans.

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Real Estate Marketing Home Value Realtors 69