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Builders apply the brakes amid canceled contracts

Housing Wire

For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. If the builders could, they would take some of the past contracts back, but they’re just stuck with these homes.

Contracts 421
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A Contract is Born

The Appraiser Coach

What makes a contract a contract? Is it the legal prose, the professional typesetting, or the date across the top? I’m no lawyer, but my mentor once told me that. Read More.

Contracts 195
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FirstFunding sues Sprout for breaching of contract

Housing Wire

Consequently, the warehouse lender filed the lawsuit against Sprout on Wednesday for breaching the contract and injunction in the U.S. The post FirstFunding sues Sprout for breaching of contract appeared first on HousingWire.

Contracts 314
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A Contract is Born

Appraisal Buzz

What makes a contract a contract? The post A Contract is Born appeared first on Appraisal Buzz. Is it the legal prose, the professional typesetting, or the date across the top? I’m no lawyer, but my mentor once told me that … Read More.

Contracts 195
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Most Areas Report Declining Contract Activity

Appraisal Buzz

The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in August, the third month in a row and the ninth time it has fallen this year. The post Most Areas Report Declining Contract Activity appeared first on Appraisal Buzz.

Contracts 195
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Redfin: 60k+ Buyers Cancelled Contracts in August

Appraisal Buzz

of all homes that went under contract that month. The percentage of backouts has now hovered around … The post Redfin: 60k+ Buyers Cancelled Contracts in August appeared first on theMReport.com.

Contracts 195
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YoY Contract Activity Slips in Major Regions

Appraisal Buzz

Year-over-year contract activity slid in all four major regions. The Pending Home Sales Index (PHSI) edged … The post YoY Contract Activity Slips in Major Regions appeared first on theMReport.com.

Contracts 195
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Single-Family Housing Contraction Continues in October

Eyes on Housing

Elevated mortgage rates, high construction costs for concrete and other building materials, and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production. Overall housing starts decreased 4.2%

Contracts 127
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US economy contracts in Q2, enters “technical recession”

Housing Wire

The housing market, in contraction largely due to the Fed ‘s tightening monetary policy, contributed to the decline in the GDP. The post US economy contracts in Q2, enters “technical recession” appeared first on HousingWire. The U.S. real gross domestic product (GDP) decreased 0.9% annually in the second quarter of 2022, after falling 1.6% in the previous three months, according to the U.S. Bureau of Economic Analysis (BEA). And the slowdown in the U.S.

Contracts 252
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Fraud risk continues to rise even as the market contracts

Housing Wire

Wire and title fraud remained at all time high levels in the second quarter of 2022 while the market contracted, rates increased and fraud risk continued to rise,” FundingShield CEO Ike Suri said. The post Fraud risk continues to rise even as the market contracts appeared first on HousingWire.

Contracts 244
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Fiery Tennessee estate in contract after setting social media ablaze

Inman

The house is now under contract after just six days on the market, according to a listing on Zillow. Listing photos on Zillow show firefighters extinguishing the blaze as the $1.5 million, 25-year-old mansion actively burns.

Contracts 124
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Mortgage Contracting Services Announces Craig Torrance for CEO Role

Appraisal Buzz

The post Mortgage Contracting Services Announces Craig Torrance for CEO Role appeared first on DSNews. The post Mortgage Contracting Services Announces Craig Torrance for CEO Role appeared first on Appraisal Buzz.

Contracts 195
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Contract Volume, New Listing Volume Experiences Largest Off-Seasonal Decrease

Appraisal Buzz

In July, economic uncertainty and another steep interest rate hike from the Fed appeared to have impacted … The post Contract Volume, New Listing Volume Experiences Largest Off-Seasonal Decrease appeared first on theMReport.com. The post Contract Volume, New Listing Volume Experiences Largest Off-Seasonal Decrease appeared first on Appraisal Buzz. HouseCanary, Inc.

Contracts 150
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7.3% Fewer Listings Under Contract YoY in July

Appraisal Buzz

Fewer Listings Under Contract YoY in July appeared first on theMReport.com. Fewer Listings Under Contract YoY in July appeared first on Appraisal Buzz. Record-high home prices may be causing some buyers to retreat, as affordability continues to play a factor in homebuyers’ decisions.

Contracts 195
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Pulte Mortgage Contracts with Black Knight for MSP Servicing System

Appraisal Buzz

MSP is a comprehensive, end-to-end platform that supports all aspects of servicing – from loan boarding to default – for first mortgages, as well as home equity loans and lines of credit, The post Pulte Mortgage Contracts with Black Knight for MSP Servicing System appeared first on Appraisal Buzz.

Contracts 195
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Housing Market Showing Nearly 60% of Listed Homes Under Contract Within Two Weeks

Appraisal Buzz

Homes sold faster than ever during the four weeks ending February 13, as a record 57% of homes that went under contract did so within two weeks of being listed, according to a new report from Redfin. The post Housing Market Showing Nearly 60% of Listed Homes Under Contract Within Two Weeks appeared first on Appraisal Buzz.

Contracts 239
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What does it mean to be “out of contract” in a home sale?

San Jose Real Estate

Buying Tips Contracts & Forms Selling Tips buyer default Covid default escrow in escrow out of contract Real estate seller default sickness silicon valleyIn other words, there is a seller or buyer default happening. How can that happen?

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Virginia Housing, Black Knight Renew Contract for MSP Servicing System

Appraisal Buzz

Virginia Housing has renewed its contract to use Black Knight Inc. ’s The post Virginia Housing, Black Knight Renew Contract for MSP Servicing System appeared first on Appraisal Buzz. s MSP servicing system. Virginia Housing has been a Black Knight client for 25 years. Through its continued use of MSP, Virginia Housing will be equipped to further automate its processes and support residents within the state.

Contracts 150
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What Does Under Contract Mean in Real Estate?

Raleigh Realty

What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing.

Contracts 124
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What’s in a Sales Contract? Insights from a Seasoned Appraiser

McKissock

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.

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The Appraisal is Below Contract Price, Now What?

Hank Miller Team

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.

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How much are buyers paying above the asking price?

Sacramento Appraisal Blog

Market Trends Appraisal Appraised Value Appraiser bidding wars chaotic housing market contract price getting into contract housing 2021 housing market how much are buyers paying original list price paying above appraised value sacramento housing trends Sacramento Real Estate Market

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What’s in a Sales Contract? Insights from a Seasoned Appraiser

Appraisal Buzz

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. The post What’s in a Sales Contract?

Contracts 195
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6 Fields & Features to Add To Your Digital Manufacturing Contracts

GoForrmz

Augment your manufacturing contracts with these powerful fields and features Digital form fields and features can significantly improve the completeness and professionalism of your manufacturing contracts and service agreements.

Contracts 131
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SitusAMC renews contract with SBA of Florida

Valuation Review

a provider of trusted solutions supporting the entire lifecycle of real estate finance, renewed its contract with Florida’s State Board of Administration. SitusAMC Holdings Corp., The move helps provide real estate valuation and loan administration services

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Can the Seller Change the Disclosure After Contract?

Hank Miller Team

Can the seller change the disclosure after contract? Contracts fall apart as buyers claim things were omitted, information wasn't accurate, something that was to remain was taken.the list is ever growing.

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The housing market has shifted

Sacramento Appraisal Blog

The housing market has shifted over the past month. That’s what the stats are showing, and it’s what we’re hearing from the trenches.

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Texas Real Estate Contracts and Addendums: A Guide for Home Sellers and Buyers

Listing Spark

Episode Summary In this episode, Aaron Jistel (Broker and Co-Founder at ListingSpark) focuses on how recent changes to Texas Real Estate Commission’s contracts and documents may affect home sellers and buyers. All of these contracts can be found on the TREC website. [00:20:35]

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A sharp change in the housing market

Sacramento Appraisal Blog

Market Trends appraisals fewer buyers Home Appraiser House Appraiser increase of listings market stats pending contracts down Placer County Price deceleration price growth slowing Ryan Lundquist Sacramento County sacramento housing market trend graphs

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What Is a Land Contract In Ohio? Full Guide [2021 Update]

The Robert Weiler Company

Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land. What Is a Land Contract?

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Pending home sales rise for the first time since May 2022

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. “We Economics Housing Market Mortgage Rates Real Estate CONTRACT SIGNINGS First American Lawrence Yun Mortgage Applications National Association of Realtors Odeta Kushi Pending Home Sales

Contracts 362
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Is the housing market getting back to normal?

Sacramento Appraisal Blog

“The housing market is getting back to normal.” ” I hear that quite a bit, but is it true? Well, yes and no. Let me explain.

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Do Appraisal Gap Clauses Impact Appraisals?

Cleveland Appraisal Blog

An appraisal gap clause can be written into a contract. It states that the buyer will still purchase the home at the contract price, even if the appraised value is lower than the contract price by a certain amount.

Appraisal 316
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The ugly side of housing: low inventory

Housing Wire

drop in the number of homes in contract from the prior month, according to new data from the National Association of Realtors. Gradually increasing mortgage rates, heightened home prices and inventory levels at historic lows finally coalesced in February to depress in-contract deals.

Inventory 405
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What Does Under Contract Mean in Real Estate?

Mashvisor

As a real estate investor, you may occasionally bump into the term “under contract.” ” But what does the term mean in real estate investing?

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Canceled Home Contracts Hit a Two Year High in June 2022

Hank Miller Team

Cancel culture invades real estate.The number of canceled home contracts hit a two year high in June 2022. Still, 22 of contracts terminating isn't a anything to ignore. As inflation runs roughshod over the country, there are multiple factors playing a role in contracts terminating.

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US contraction an omen for Canadian economy, says BMO's Guatieri

Mortgagebroker News

A recession will be "very difficult" to avoid if current trends do not abate

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December 2021 REALTORS® Confidence Index Survey: Fewer Buyers Waiving Appraisal, Inspection Contract Contingencies

National Association of Realtors

The fraction of buyers who are waiving appraisal and inspection contract contingencies has been trending downwards in recent months, with REALTORS® saying that 19% of buyers waived the inspection contingency in December 2021, down from 27% in July, and 21% waived the appraisal contingency, down from 29% in June.

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Tips for Homeowners Concerned About Appraisals Below Contract Price

Will Springer Realtor

About 13% of appraisals came in below the contract price this August, the most-recent available data, according to housing-research firm CoreLogic. housing market is 7% of all mutually accepted contracts. Not all home appraisals – and those who conduct them – are created equal.

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MCS CEO Caroline Reaves announces her retirement

Housing Wire

Caroline Reaves, CEO of property services provider Mortgage Contracting Services , announced her retirement on Tuesday after leading the company for 14 years.

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