Housing Wire

APRIL 15, 2021

In modern history, the housing market has never seen a month like March. Record demand and the lowest levels of inventory on record pushed sales prices to record highs in March and made life very complicated for buyers, real estate agents, builders and lenders across the United States.

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Housing Wire

DECEMBER 28, 2021

But — in the same beat — Caporale added, “There is still a massive influx of buyers, and I am not seeing a significant drop in demand.” We just went through one of the biggest housing booms in modern history,” said Jonathan Miller, a real estate appraiser at Miller Samuel who also produces housing market reports for Douglas Elliman.

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Housing Wire

SEPTEMBER 24, 2021

To make matters worse, some of that inventory is extremely dated. The typical house is now 39 years old — a far cry from the modern, move-in ready property that most homebuyers are looking for. They come with lots of hassle and overhead costs, and the process just isn’t efficient — for the buyer or for the lender.

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Appraisal Buzz

DECEMBER 27, 2021

million units , and some experts say it could reach 8 million if there were more inventory. Meanwhile, buyers are plucking up homes left and right. Shifting Toward Modernization. In response, the FHFA is looking to modernize the appraisal process to ensure more streamlined and accurate valuations.

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Appraisal Buzz

OCTOBER 3, 2022

I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers. Inventory levels have an impact on property valuation, at least in the short term.

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Housing Wire

JULY 25, 2022

We are seeing a lot of listings come out right now, but because there are so many buyers out there, stuff is still selling as quick as it comes out, so we haven’t gained any traction on inventory.”. Today, the Cache la Poudre River runs through modern-day Fort Collins. Los Angeles, California. Los Angeles, California.

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Housing Wire

JUNE 29, 2022

Millennials and Gen Zs make up the largest cohort of potential homebuyers today, the majority of which are first-time buyers bullish to get a foot on the property ladder. As mortgage rates rise, inventory remains low and digital trends accelerate, navigating the changing borrower landscape requires tailored strategies.

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Housing Wire

DECEMBER 30, 2022

Home prices have never been higher, pent-up demand stronger and housing inventory tighter. These conditions are challenging for even the average homebuyer, let alone low-income and minority buyers. That I’m proud of the role that they are playing in helping modernize mortgage production and the secondary market? Because I am.

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McKissock

DECEMBER 10, 2021

Plus, what will it take to modernize the appraisal process? home buyers will have a better chance to find the home of their dreams in 2022, but will face a competitive seller’s market, as first-time buyer demand will continue to outpace the nation’s recovering inventory.” The 10 top housing markets of 2022.

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McKissock

JULY 18, 2021

It’s no secret that most of today’s buyers want a turnkey property they can move right into, but with buyer demand skyrocketing without the inventory to meet the demand, many buyers are ready to take any suitable home they can win a bid on. Go Big Or Go Home.

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Housing Wire

MAY 8, 2023

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

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Lamacchia Realty

DECEMBER 11, 2023

From the Covid-19 driven frenzy in 2020 to the significant inventory slowdown this year , buyers , sellers , and agents have all had adapt and grow comfortable with change. Buyers Typically Avoid FSBO Properties : Buyers will often avoid putting an offer on FSBO homes altogether.

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DW Slater Company

JUNE 16, 2022

First time home buyers are having to compete with larger institutional investors that have more buyer power. Month’s Supply of Inventory. The percent that buyers are paying over list price is less than the previous month. Lenders See Considerable Value in Appraiser Modernization – Fannie Mae. Days on Market.

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Housing Wire

OCTOBER 11, 2022

Inventory, which has been falling for years, broke to all-time lows in 2020. We didn’t have a seasonal push in inventory in 2020, and things worsened in 2021. Of course, this has brought back some inventory, as demand weakness always creates inventory through accumulation. million active listings, but at just 1.28

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Will Springer Realtor

APRIL 4, 2023

The brick-clad, steel and glass condo combines seven stories from the original Seattle Plumbing building circa 1903 with an additional five floors of modern living. It has been around since 2018 and about 85% of the 107-unit inventory is sold. Gridiron is imminently unique. Gridiron is not new. And what an opportunity it is.

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Housing Wire

FEBRUARY 21, 2023

This facilitated the biggest decline in existing home sales for a single year that we will ever see in modern-day history due to the high level of sales in January of 2022. However, the second is that inventory is simply too low, with too many people chasing too few homes, which means too many bidding wars.

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Lamacchia Realty

MAY 6, 2021

City and town offices were ordered to shut down at the beginning of the pandemic causing delays for attorneys who need municipal certificates, mortgage companies were extremely backed up due to the low rates which caused a litany of refinancing applications, and extremely low inventory and high buyer demand flipped the market upside down.

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Cleveland Appraisal Blog

MARCH 4, 2021

That usually appealing to many home buyers. So, while the cabinets may be in good shape, many homeowners will eventually replace the countertops, sink and appliances with a more modern look and improved functionality. Let’s think about a home that was just built and never lived in. A brand-new home has a certain type of appeal.

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Housing Wire

JULY 18, 2023

High mortgage rates and depleted housing inventory have exacerbated an already existing housing availability crisis. As a frame of reference, a 20/1,000 turnover rate is a fairly typical for the modern housing market. Buyers of that home type had 33% fewer houses to choose from.

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Cleveland Appraisal Blog

FEBRUARY 4, 2021

In it, I provide short episodes that provide you with stats on median sales prices, marketing times, housing inventory and other related stats, on specific neighborhoods in Northeast Ohio. Fannie New Appraisal Form Modernization – APPRAISAL TODAY. Are first-time buyers targeting 2-4 unit properties?

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Appraisal Today

AUGUST 5, 2022

Fannie: Learn how valuation modernization is changing collateral underwriting – Video, 1 hour, 23 minutes. Excerpt from emailed notice: “Valuation Modernization: New perspectives on collateral underwriting” is a must-see for underwriters and appraisal reviewers. For more details and graphs, click here. To read more, click here.

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Listing Spark

DECEMBER 23, 2020

Across the major markets in Texas, our December real estate market update shows clear data points that we are ending the year in one of the strongest seller’s markets we have seen in modern history. . Months of Inventory (1.2 Months of Inventory (Compared to 3.3 Months of Inventory: (down 1.4 this time last year).

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Listing Spark

SEPTEMBER 27, 2023

Your Clients Demand Near-Real-Time Market Insights In Texas especially, markets are in flux, and there remains a severe shortage of inventory. The importance of providing near-real-time insights cannot be overstated for any type of buyer or scenario: Buyers look to their realtor as the source of information.

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Clear Capital

MARCH 24, 2023

An appraisal gap is the difference between what a buyer agreed to pay for a home in a purchase contract and what an appraiser concludes as the fair market value of the property. Buying a home is not for the faint of heart, especially when inventory is so low and affordability is a challenge.

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Appraisal Today

APRIL 5, 2024

Upon arrival, you’re greeted by a lavish motor court leading to timeless modern architecture. to 7% range for mortgage rates and anticipated fluctuations will significantly impact buyer affordability and demand. Considerations for residential real estate appraisers Mortgage Rate Influence: The current stability within the 6.6%

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Appraisal Today

APRIL 21, 2023

Despite the fresh coat of paint and a small but modernized kitchen and bath, the home retains many of its original features, including the loft bedroom, where the school’s headmistress once slept. The house has one-bedroom, one-bath and 706-square-foot house and a quarter-acre lot.

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Housing Wire

JULY 16, 2021

Tomo, founded by former Zillow executives, is built on the premise that homebuyers need to gain an edge, especially in a market largely defined by limited inventory and fierce bidding wars. . They’re used to modern experiences with great service and digital experience. Instead, its focus is securing buyers new mortgage loans.

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Housing Wire

OCTOBER 20, 2023

and dwindling inventory in most states, today’s brokers must get creative to keep a fresh pipeline of homebuyers coming through the door. Advertising on Zillow can put your website in front of millions of potential buyers and sellers. Learn more Predictive analytics Artificial intelligence (AI) is here to stay.

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Appraisal Today

JULY 1, 2023

As several calls to the listing agent have gone unreturned, we (and social media) are left wondering why this modern marvel hasn’t sold. New home sales have been driving purchase activity in recent months as buyers look for options beyond the existing-home market. The refinance share of mortgage activity increased to 27.2

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Appraisal Today

MARCH 8, 2024

This outlook implies that 30-year mortgage rates will climb further to around 6.8% – exacerbating affordability headwinds for the housing market, especially for prospective first-time home buyers. Advice for residential real estate appraisers In summary, appraisers must strike a balance in today’s housing market. percent the previous week.

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Appraisal Today

MAY 17, 2024

For buyers, I tell them to look for these homes for sale. Jauregui (agent) explains that the three-level residence was designed to blend modern design with sustainability. If they don’t want to spend any money or do not have any available, I tell them to take out personal items and clean the home so they can eat off the floor.

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Will Springer Realtor

AUGUST 11, 2023

First, let’s set the scene: Housing inventory is shrinking year to year in most parts of the country and there are no signs of significant replenishment over the horizon. As the chart shows, a historically large segment of Millennials is inching toward 36, the median age of a first-time home buyer in the U.S.

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Chicagoland Appraisal Blog

APRIL 3, 2020

Which types of homes tend to be most attractive to buyers? Just as the housing stock in Chicago is incredibly diverse, so too is the pool of buyers. When the market is soft, buyers want the properties that are finished and ready to go.”. Westhoff notes that many buyers still prefer white cabinets.

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Housing Wire

DECEMBER 15, 2021

Housing inventory remains persistently low, home prices are at all-time highs and affordability is becoming out of reach for more people with every passing day. The same trend is seen in existing-home sales due in large part to a lack of inventory of available homes for sale. Median new-home sales prices rose 17.5%

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Movoto

MAY 22, 2024

For those currently seeking homes in Colorado , being a shrewd buyer will be more important than in most parts of the country because the state tends to hold its residents. Like many other areas, Colorado house prices have been rising, so buyers should gather as much intel as possible about the homes and areas they’re considering.

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Housing Wire

DECEMBER 31, 2021

Industry experts also predict that home inventory will increase in 2022, creating more options for borrowers. This is good news for the many would-be buyers who are currently priced out or delaying decisions because of low supply conditions and steep home-price appreciation.”

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Appraisal Today

JULY 7, 2023

Everything has been fully modernized. However, the “mortgage lock-in” phenomenon—where homeowners are reluctant to sell after buying or refinancing at lower rates before 2022—could limit future sales and inventories. Behold the affordable, flying saucer–shaped home that’s looking for a buyer to restore its otherworldly beauty.

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