Appraisal Buzz

MAY 20, 2024

A seller’s market indicates demand is high and inventory is low, while a buyer’s market means inventory is high and demand is low. Interest rates impact the housing market significantly — demand can rise or fall any time they go up or down. The work you receive can vary widely depending on the current environment.

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Appraisal Marketing Valuation Sellers 370

Housing Wire

MAY 12, 2022

“Record levels of home equity provide financial security for millions of families, and minimize the chance of another housing market crash like the one we saw in 2008. But these higher home prices and rising interest rates make it extremely challenging for first time buyers to enter the market.”.

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Supply Chain Housing Market Market Value Buyers 450

Housing Wire

OCTOBER 12, 2023

When we go through the brokerage valuation process, the product is Fair Market Value (FMV). When we see transactions that are executed at a price that is materially different than FMV, it is usually because the deal terms are imbalanced, favoring either the buyer or the seller. At a 3x multiple, FMV would be $600,000.

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Sellers Buyers Brokerage Agents 368

Housing Wire

NOVEMBER 7, 2023

If somebody is concerned about that (taxes), I always put it back on the buyer and ask them, ‘Do you have any control in the increase of your rent payment?’” ATTOM’s figures are estimates based on an analysis of local tax data, home values and the use of an automated valuation model. In 2022, the average tax on a U.S.

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Property Taxes Home Value Government Buyers 540

Cleveland Appraisal Blog

MAY 27, 2021

The buyers paid cash. I must admit, in the past year, there have been times when I have felt like many buyers don’t really care about value anymore. While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption.

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Market Value Appraisal Buyers Marketing 418

Appraisal Buzz

JUNE 10, 2024

And the average active listing has been on the market for 46 days, up 2.3% Housing Market Highlights: The Four Weeks Ending June 2 The median sale price was $392,200, representing a 4.4% I’ve seen buyers get a home under asking price when it has been on the market for a few weeks.

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New Listings Sellers Mortgage Agents 397

Housing Wire

OCTOBER 17, 2023

That makes those homeowners susceptible to predatory behavior by some buyers operating in the pre-foreclosure marketplace, behavior that has been chronicled in several prominent, recent news stories. These institutional buyers purchased pre-foreclosure properties for 30% below estimated after-repair market value on average.

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Buyers Retail Market Value Real Estate Agent 375

Housing Wire

JANUARY 13, 2022

Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business. enters the third year of the pandemic, the 2022 housing market remains on stable ground.

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Buyers Inventory Landlords Housing Market 451

Housing Wire

MAY 21, 2024

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. The after-repair value is the estimated market value of a property in fully repaired condition.

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Marketing Investors Real Estate Investing 424

Appraisal Buzz

SEPTEMBER 26, 2022

They were able to get others to declare the value as fair, but some valued fair as high as possible. They found liar buyers. Everything worked well so long as “value” equaled price! We have rules, we have standards, and we all know the exact definition of value. buyer and seller are avariciously motivated; biased.

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Market Value Sellers Buyers Finance 321

Appraisal Buzz

MARCH 25, 2024

The transaction is a complex interplay between buyer and seller. The hypothetical interaction of the typical buyer (who embodies the collective thought and action of the whole market of buyers) with the typical seller (who similarly embodies the collective thought and action of the whole market of sellers).

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Sellers Appraisal Real Estate Buyers 379

Housing Wire

NOVEMBER 23, 2020

Steve Price, senior vice president of trustee operations at Auction.com, said this is likely because of the shift to vacant or abandoned properties that often come with more deferred maintenance – but the average price relative to estimated full market value increased to a 6.5-year year high in September.

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Buyers Real Estate Investors Retail 527

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value.

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Inventory Market Value Appraisal Contracts 243

D Fritz Appraisals

SEPTEMBER 11, 2023

If you are looking to sell quickly or have a limited budget, it is worth researching the renovations that increase home value the most. knows which renovations can add market value – and which will make your home more valuable to you but won’t necessarily increase the selling price. Fritz Appraisals Inc.

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Renovations Home Value Market Value Valuation 117

Housing Wire

MAY 12, 2021

trillion is roughly equal to France’s 2020 gross domestic product , or the combined market value of Amazon and Facebook. “We expect 2021 to be an even more active year for the housing market than 2020 because homebuyers have a better sense of what the future looks like,” said Fairweather. billion. .”

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Housing Market Inventory Mortgage Market Value 403

Cleveland Appraisal Blog

DECEMBER 2, 2021

If this is the norm for the neighborhood, the size of the driveway may not have any impact on value. It really depends on the neighborhood and what the typical buyer in that neighborhood is looking for. DOES THE MATERIAL THE DRIVEWAY IS MADE OF MAKE A DIFFERENCE IN VALUE? What about gravel or tar & chip driveways?

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Appraisal Buyers Market Value Real Estate Agent 243

Housing Wire

JUNE 11, 2021

A home inspector, hired and paid by the buyer typically, will look at the plumbing, electricity and the overall foundation of the home and then provide a report with their findings. While home inspections aren’t required, they provide the buyer with several important opportunities in the home-buying process.

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Inspection Appraisal Appraisal Process Buyers 423

Housing Wire

MAY 6, 2021

The hike has also added nearly $13,000 to the market value of an average new multifamily home, which translates into households paying $119 a month more to rent a new apartment, the NAHB said. “More housing supply is needed to bring home price growth back to sustainable levels.”

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Housing Market Marketing Market Value Construction 414

Appraisal Buzz

SEPTEMBER 12, 2022

However, some iBuying companies have seen their business growth falter or pause as the course of the pandemic — and the housing market — changed. What should appraisers know about the state of the iBuying market? A strong housing market is the key driver of iBuying’s success. of the market share in the U.S.

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Supply Chain Sellers Housing Market Appraisal 195

Lamacchia Realty

JUNE 21, 2022

Now, months later, with rates up nearly 100% from the start of the year- January mortgage rates were hovering in the low to mid 3’s and this week reached 6.28%- diminished buyer affordability is causing a big downshift in demand. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.

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Housing Market Bracketing Marketing Sellers 59

Cleveland Appraisal Blog

JUNE 25, 2021

What is the primary reason a newly built home has a higher market value than the same home that is older? Simply stated, it is loss in value. Functional depreciation results when buyers pay less for a home, in comparison to other similar homes, because some aspect of it is less functional than other generally similar homes.

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Market Value Appraisal Marketing Buyers 244

Cleveland Appraisal Blog

JANUARY 19, 2023

The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value. That is not always a simple task.

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Appraisal Buyers Transportation Real Estate 284

Miller Samuel

NOVEMBER 30, 2018

As we say in the petition , this change can impact several groups in particular: consumers, the taxpayers, the housing market and appraisers. If the buyer realizes they overpaid for the property, the agents are now the professionals with the bullseye on their back. Ever heard of straw buyers?

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Appraisal Inspection Real Estate Agent Agents 300

Housing Wire

OCTOBER 9, 2023

What the investigators are finding — not in every case, but in a majority of the cases — is that the investment is proper and they are paying fair market value for the investment.” Any time a buyer exits the loop there is an opportunity for poor service.

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Real Estate Insurance Brokerage Real Estate Agent 426

Cleveland Appraisal Blog

AUGUST 11, 2022

In that case, potential buyers will lay down an ‘as-is’ offer, which means they will acquire the home in its current condition. Therefore, you don’t have to fix or account for any issues that might be discovered in a professional home inspection issued by the buyer. Buyers may walk away from the purchase.

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Renovations Buyers Appraisal Investing 221

Cornerstone

OCTOBER 26, 2021

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. Expect an appraisal gap if you see these market conditions. Understanding what an appraisal gap means for you is essential in today’s market.

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Sellers Buyers Appraisal Loan Officers 57

Housing Wire

MAY 3, 2022

“We expect this additional capital to accelerate our growth as we help cash-constrained homeowners and home buyers build financial stability and achieve their financial dreams,” Lim said. That share is typically around 10 percent or so. Point also shares some of the downside risk with the homeowner in the event the home price drops.

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Contracts Investors Investing Market Value 394

Housing Wire

APRIL 8, 2021

Surplus funds are proceeds from a foreclosure sale to a third-party buyer that are above and beyond the total debt owed to the foreclosing lender. The increased market size Wells refers to is best demonstrated in the third-party buyer sales rate for foreclosures brought to auction on the Auction.com platform compared to the overall market.

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Retail Market Value Marketing Buyers 407

Cleveland Appraisal Blog

DECEMBER 10, 2022

As a certified residential appraiser, I can tell you that while some of the things noted in this report can decrease value, they may not, so take these points with a grain of salt. I can tell you that some buyers will certainly agree with these points! Potential buyers may be put off by a home that is carpeted from floor to ceiling.

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Appraisal Buyers Renovations Investing 298

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. ” Home prices were up 14% year over year in January, and the total combined value of homes nationwide has risen by more than $2 trillion since the COVID-19 pandemic began.

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Home Value Market Value Brokerage Inventory 469

Will Springer Realtor

JULY 8, 2022

The screeching you heard in June was the sound of brakes being applied to the housing market across the U.S. The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. Not really sure.”.

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Housing Market Marketing Inventory HOA 36

DW Slater Company

FEBRUARY 23, 2023

So what’s happening in the housing markets here? The past six months have been full of very drastic changes as the rapid mortgage rate increases causing many markets to begin to decline. The demand for housing decreased with the higher mortgage rates as it decreased buyer power. Not every market is the same.

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Inventory Marketing Supply Chain Appraisal 128

Housing Wire

MAY 18, 2021

Buying your dream home starts with being a well-prepared buyer and beginning the mortgage application process before you even look at homes. The number of days on the market before an offer is accepted is usually six days, and everyone knows it’s going to sell above market value.” Presented by: Citi.

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Real Estate Marketing Real Estate Agent Agents 427

Appraisal Buzz

MAY 24, 2021

When you calculate a house’s worth, you think about how numerous factors position the property in the current market. This process has appraisers review location, condition, and other variables so they can assess whether buyers will be interested. There are a few specific variables that determine a multifamily building’s value.

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Appraisal Tenants Buyers Landlords 397

Cleveland Appraisal Blog

JUNE 17, 2022

When developing an opinion of the market value of a property, what appraisers are really measuring is how much depreciation a property has suffered from, and more specifically how much depreciation the improvements on the land have depreciated. Buyers gaining power & farewell real estate honeymoon – Sacramento Appraisal Blog.

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Appraisal Development Market Value Tenants 279

Birmingham Appraisal

MARCH 21, 2023

A Look at How Market Trends are used in the Real Estate Appraisal Process The real estate market is constantly changing, and market trends play a crucial role in helping an appraiser determine property values. In this blog post, we’ll explore the role of market trends when completing a real estate appraisal.

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Real Estate Appraisal Marketing Market Value 84

Will Springer Realtor

OCTOBER 11, 2022

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. housing market is experiencing a price “correction,” defined as a 10% price drop from its most recent peak. The next 12-24 months are likely going to be quite a challenge for prospective buyers.

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Housing Market Marketing Buyers Real Estate 36