Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? Appraisals below contract price will continue to be a challenge in 2022. Consider, appraisals this year will be using data from the already insane market of 2021 and many will still fall below contract. Most important, buyers and sellers should QUALIFY THEIR AGENT.

Contracts 98

Contracts Appraisal Sellers Buyers 98

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 379

Lending Business Retail Client Relationships 379

Housing Wire

JANUARY 8, 2021

As we think about coming out of this first month of the year, we’ve quickly realized this year is going to be anything but planned or what we in the mortgage lending industry are used to. But for others, low mortgage rates gave way to pre-approved borrowers struggling in a very competitive seller’s market.

Lending 446

Lending Mortgage Inventory Business 446

Housing Wire

DECEMBER 8, 2023

Ultimately, every homebuyer prospect, every contract and every negotiation is different, but your value should be consistent for all situations and clients. In fact, you will become known as a true professional and receive repeat and referral business as a result of doing the best job possible for your clients.

Clients 419

Clients Real Estate Inspection Buyers 419

Housing Wire

MARCH 20, 2024

In recent years, Zillow also launched segments for rental listings and mortgage origination; it briefly operated an instant buying segment, now shuttered. “We do not have long-term contracts with many of our real estate partners,” the materials read. Zillow declined to comment on recent stock price movements.

Investors 433

Investors Agents Real Estate Buyers 433

Housing Wire

AUGUST 27, 2020

in July, the third consecutive month of gains, fueled by low mortgage rates and unprecedented demand from consumers. The seasonally-adjusted index measuring signed contracts was up 15.5% Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”.

Contracts 481

Contracts Realtors New Listings Real Estate 481

Housing Wire

FEBRUARY 15, 2024

And that’s how Saller’s clients — siblings in their early 20s — can close on a $335,000, three-bedroom condominium in Jackson, New Jersey, early in March. They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). said Michael Ullmann, a producing branch leader at Movement Mortgage.

Mortgage 446

Mortgage Buyers Loan Officers Sellers 446

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” 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. over asking price.

Housing Market 520

Housing Market Marketing Real Estate Agent Real Estate 520

Housing Wire

NOVEMBER 29, 2023

Snatching up first-time homebuyers is akin to striking gold — since developing a relationship with them can mean a loyal client for life. Regular communication keeps you top-of-mind when clients are ready to make a move. Of course, you can’t do everything — but consistency is important.

Real Estate 398

Real Estate Buyers Tools Real Estate Agent 398

Housing Wire

AUGUST 18, 2023

Not prequalifying is unprofessional and can waste your time and the sellers. Don’t lose the listing of a motivated, have-to-sell seller over price. Try saying the following when the seller requests a list price that is too high: “That’s interesting, ‘seller.’ Always prequalify, 100% of the time!

Sellers 368

Sellers Construction Real Estate Finance 368

Housing Wire

SEPTEMBER 7, 2023

Probably about 60 to 70% of our business comes from referrals from our previous clients,” Chris Gallo, a top producing LO in New Jersey, said. Attorneys, Realtors and clients are a big part of our repeat business.” Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs.

Buyers 393

Buyers Agents Loan Officers Real Estate 393

Lamacchia Realty

FEBRUARY 14, 2024

ARE YOU A "WANT-TO-BE" SELLER IN 2024? From low inventory levels to increasing mortgage rates , the real estate landscape has experienced a multitude of changes and challenges over the last several years, leaving many sellers wondering when the “right” time to list would be given current market conditions.

Sellers 61

Sellers Realtors Buyers Inventory 61

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.

Brokerage 406

Brokerage Real Estate Clients Insurance 406

McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. When should we analyze the contract?

Contracts 64

Contracts Appraisal Market Value Real Estate 64

Housing Wire

OCTOBER 11, 2023

In a 75-page report, the analysts broke down the structural impacts that a change to the NAR’s Clear Cooperation rules would have for agents, brokerages, mortgage companies, real estate portals and — most importantly — consumers. A workaround with mortgage? Yep, rolling it into the mortgage. ” Steering to grab that bag?

Real Estate Agent 475

Real Estate Agent Real Estate Agents Brokerage 475

Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up.

Appraisal 418

Appraisal Clients Real Estate Sellers 418

Housing Wire

MAY 24, 2024

In fact, according to a recent study, millennials currently struggle with so much debt that 25% worry they won’t qualify for a mortgage. Nearly 1 in 5 millennials (19%) think their credit card debt will be a stumbling block when applying for a mortgage, while 1 in 7 (14%) think the same about their student loans.

195

195

McKissock

MARCH 10, 2021

When a real estate client defects, it might not be something you are doing to drive away real estate clients. There could be any number of reasons why the client decides to look elsewhere. However, you must consider, at least a little, that something you did along the way caused the client to walk away.

Clients 94

Clients Real Estate Real Estate Agent Agents 94

Housing Wire

NOVEMBER 13, 2020

How many other clients are you representing right now? Choosing a real estate agent who already has 10 buyers and five sellers probably doesn’t bode well for your home search. Do I have to sign a contract and, if so, how is it structured? You should also find out what the agent’s contract looks like.

Real Estate Agent 545

Real Estate Agent Real Estate Agents Contracts 545

Realtor

OCTOBER 16, 2023

“Doing your due diligence can help you avoid some of the most common rookie mistakes, so you come out not only with the home of your dreams, but also a mortgage you can afford.” Here are some common blunders homebuyers make when attempting to secure a mortgage.

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

McKissock

MAY 11, 2022

Before you log too many hours chauffeuring buyers from property to property, make sure they’re truly motivated to navigate the challenges of a hot sellers’ market —from competing with other buyers to committing to contracts that favor the seller. 1: They don’t say “I want to see what’s out there”. Not necessarily.

Real Estate 77

Real Estate Clients Marketing Buyers 77

McKissock

SEPTEMBER 20, 2021

Real estate agents are commonly sued for breaching their duty to act in the best interests of their client. To protect your clients’ interests, and reduce your own risk exposure, check out our highly-rated course, Know the Code: Your Guide to the Code of Ethics. Real estate risk management is an important concern for agents.

Real Estate 58

Real Estate Clients Real Estate Agent Realtors 58

Housing Wire

JUNE 11, 2021

You can potentially ask the seller to pay for the improvements, or you can ask for a lower sales price to offset the cost of the repairs. If the appraised value ends up matching or is higher than the contract price, the transaction can continue as planned. If it’s denied, buyers can also choose to walk away from the deal.

Inspection 427

Inspection Appraisal Buyers Appraisal Process 427

Housing Wire

OCTOBER 1, 2022

Mortgage interest rates have risen quickly in the past few months further eroding affordability. Notably, the market has contracted as fewer buyers can afford to purchase in today’s market with the rise in interest rates and the continual rise in home prices. However, in many areas of the country it does remain a seller’s market.

Realtors 394

Realtors Housing Market Marketing Buyers 394

Housing Wire

APRIL 6, 2021

With others waiting in line behind her, the seller wouldn’t budge on price. For example, one client had a home under contract for $983,000 and the list/appraised value was just $900,000, the LO said. But the most important thing is educating clients from day one. Sellers are surely getting greedy.”.

Appraisal 539

Appraisal Reconsideration of Value Real Estate Agent Sellers 539

Listing Spark

JUNE 21, 2022

New Loan Applications: Mortgage applications hit the lowest rate in 22 years on the first week of June. The good news for sellers is that the Texas median list price is up over 18% YOY. So, don’t panic if your home doesn’t have a contract in the first week or two of being on the market. . Well, the data doesn’t lie. SOURCE: St.

Sellers 69

Sellers Housing Market Marketing Inventory 69

Birmingham Appraisal

AUGUST 23, 2023

When real estate agents and appraisers work together seamlessly, clients benefit from well-informed decisions, transactions become smoother, and professional relationships are strengthened. A mutually respectful partnership ensures that each of their clients receives informed advice, leading to confident decisions.

Agents 83

Agents Appraisal Valuation Appraisal Process 83

Lamacchia Realty

MARCH 17, 2022

ARE YOU A "WANT-TO-BE" SELLER IN 2022? Now two years later , 2022 started with the lowest inventory EVER recorded and while inventory has grown slightly, This means NOW is a still a great time to list and take advantage of motivated buyers before other sellers really start to saturate the market. Worried about having to move twice?

Sellers 64

Sellers Realtors Buyers Inventory 64

Cleveland Appraisal Blog

OCTOBER 14, 2021

Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. 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. Pretty cool!

Inventory 243

Inventory Market Value Appraisal Contracts 243

Realtor

JULY 13, 2021

In our current seller’s market, the national inventory of active listings is down 43.1% They’re making sky-high offers and writing heartfelt letters to sellers about why they should get the house. The provisions of a contingency contract are there to protect buyers and sellers. Mold remediation.

Inspection 203

Inspection Real Estate Agent Real Estate Buyers 203

Housing Wire

SEPTEMBER 22, 2021

HousingWire recently spoke with Bill Dallas, President of Finance of America Mortgage, to discuss how brokers can leverage technology to accommodate today’s average homebuyer. As a result, today’s borrowers need mortgage products that are better aligned with their current needs while still considering their ability to repay.

Finance 370

Finance Technology Lending Mortgage 370

Housing Wire

AUGUST 23, 2023

According to Garg, the company has developed a one-day mortgage product that provides a commitment letter within 24 hours. Better wants to sell this platform to other companies, becoming a “mortgage-as-a-service” company or a white-label provider of mortgage tech, Garg said. ” And what is Better.com best at?

Realtors 368

Realtors Technology Insurance Mortgage 368

Housing Wire

NOVEMBER 3, 2023

The lawsuit, which was originally filed in 2019 and won class-action status in April, alleges that some NAR rules, including one that requires listing brokers to offer buyer brokers a commission to list a property in a Realtor-affiliated MLS, violate the Sherman Antitrust Act by inflating seller costs.

Real Estate 316

Real Estate Brokerage Buyers Property Management 316

Listing Spark

JULY 6, 2021

They then either flip them for a profit, keep them as a rental property, or wholesales the contract to another investor. When taking an objective looks at how “We Buy Ugly Houses” works, its apparent there are some well-defined upsides for home-sellers, as well as some significant downsides. As part of the HomeVestors Inc.

Sellers 36

Sellers Contracts Investors Real Estate 36

Hank Miller Team

MARCH 6, 2024

Home Sales Drop in Atlanta From a pure "number of transactions" point, closings and contracts cratered in '22 as buyers rapidly fell out and sellers chased those that remained. '23 23 saw a less severe drop in contracts and closings, sellers also recognizing that bull run was over. Closings -44.6 Closings -44.6

Real Estate 52

Real Estate Sellers Buyers Inventory 52

Realtor

FEBRUARY 22, 2019

If you’ve applied for a mortgage, your home-to-be still has to undergo a comprehensive appraisal of its worth—and an unfavorable home appraisal can kill a real estate deal. Just because you and the sellers have agreed on a price doesn’t mean it’s a done deal—your lender needs to be on board, too. Sorry, not yet.

Appraisal Process 78

Appraisal Process Appraisal Mortgage Buyers 78

Realtor

FEBRUARY 22, 2019

If you’ve applied for a mortgage, your home-to-be still has to undergo a comprehensive appraisal of its worth—and an unfavorable home appraisal can kill a real estate deal. Just because you and the sellers have agreed on a price doesn’t mean it’s a done deal—your lender needs to be on board, too. Sorry, not yet.

Appraisal Process 78

Appraisal Process Appraisal Mortgage Buyers 78