Housing Wire

JUNE 17, 2021

Though uncertainties over consumer behaviors related to reopening and COVID-19 developments remain, the group believes temporary factors are largely responsible for current strong inflation. “With inventory tight, the slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller’s market.”.

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Mortgage Housing Market Contracts Construction 442

Housing Wire

JANUARY 3, 2024

When looking at the challenges the first quarter of the year will pose agents, the most popular response was “low inventory,” followed by “getting listings” and “interest rates and inflation.” I was already using buyer broker contracts, but now use them 100% of the time.

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Agents Realtors Clients Real Estate Agent 341

Housing Wire

APRIL 22, 2021

“I’m on my way with a client to show them a house that’s literally just gotten on the market, and by the time we get there, it’s already under contract with someone else,” she said. There’s less than 30 days worth of inventory for homes under $300,000 right now.” “It’s just insane.

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Buyers Inventory Renovations Realty 423

Housing Wire

MAY 19, 2022

HousingWire: The current inventory shortage doesn’t seem like it will let up anytime soon. The combination of the slowing refinance market and the current inventory shortage has made fulfilling volume needs even more challenging. What challenges does this present to brokers?

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Cleveland Appraisal Blog

OCTOBER 14, 2021

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. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008. Months of Housing Inventory Historically.

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Inventory Market Value Appraisal Contracts 243

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

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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. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Thus, the FHFA will likely have to develop a set of best practices in the coming years to prevent these snags and protect you and lenders.

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Appraisal Valuation Modernization Contracts 397

Housing Wire

JANUARY 16, 2024

It’s a positive development. The longer we stay with mortgage rates higher, the more inventory will build closer to where it used to be. Higher mortgage rates means more inventory. If mortgage rates fall into the 5s this spring, you should expect the available inventory to decline as demand picks up rapidly.

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Inventory New Listings Sellers Contracts 426

Housing Wire

SEPTEMBER 26, 2023

Available inventory of homes for sale is on the rise in late September, which is very unusual for this time of year. In fact, inventory is growing faster than this time a year ago. What’s happening with inventory? Normally by this point in September, available inventory is declining slightly each week.

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Inventory Contracts New Listings Mortgage 482

Housing Wire

DECEMBER 6, 2023

Consider the residential client disappointed at the lack of inventory , or the commercial investor with many vacancies in a once-thriving property. As with establishing effective communication expectations early on, developing a crisis management plan before you need it will allow you to effectively deal with unexpected problems.

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Real Estate Legal Tenants Clients 388

Cleveland Appraisal Blog

SEPTEMBER 3, 2021

Let’s talk about three areas of a listing that, when completed accurately, can help appraisers to develop more supportable opinions of value. The more information the MLS listing offers on a home, the more useful the data is at helping appraisers to develop a supportable opinion of the value of a home being appraised.

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Agents Appraisal Renovations Development 378

Housing Wire

JULY 28, 2022

But they do agree on one thing: Higher interest rates will quell housing demand, which will allow inventory to rebound and, eventually, spur the return of reluctant buyers. Census and the Department of Housing and Urban Development. Signed contracts to purchase existing homes declined a wider-than-expected 8.6%

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Housing Market Marketing Loan Officers Buyers 301

Hank Miller Team

JANUARY 9, 2024

We can however, develop supported opinions by combining recent data, extensive local experience and cautious interpretation of the variables mentioned above. Number of Homes in Greater Atlanta Listings typically trail contracts and closings, that's clear as listings ballooned as rates jumped. They cannot.

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Housing Wire

JUNE 17, 2021

. “Since reaching a survey-high 927,000 units in October 2020, the annual pace of new home sales has now fallen around 20 percent, weighed down by low housing inventory and rising prices,” said Kan. In that data, new home sales are recorded at contract signing, which typically occurs with the mortgage application.

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Inventory Construction Contracts Mortgage 492

Birmingham Appraisal

JUNE 1, 2022

If financing were not an issue, and the buyer couldn’t care less about how their contract price compared to other similar properties, it would just be a matter of connecting the buyer with the seller and signing on the dotted line, but life isn’t always so easy. Of course, we may start to see less of this as interest rates rise.

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Agents Marketing Contracts Inventory 52

Housing Wire

FEBRUARY 7, 2023

And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. developed a program to identify properties nationwide that are for sale, meet the criteria of the FHA for assumptions and have a mortgage rate lower than the current market rates. The product, known as an assumable mortgage, is not new.

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Housing Wire

SEPTEMBER 7, 2023

As industry players have begun preparing for a variety of potential outcomes in these lawsuits, some agents say they have seen lenders work to develop their consumer-facing marketing. “I Fannie Mae, Freddie Mac and the U.S.

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Buyers Agents Loan Officers Real Estate 378

Hank Miller Team

AUGUST 14, 2022

What if instead of the relentless, bombastic blathering emanating from the media, time was given for patterns to develop? What if we back out, let the situation develop and look for past patterns to anticipate future trends? Of course, there are significant variables but when housing data is reviewed by quarters, patterns develop.

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Real Estate Marketing Contracts Inventory 40

Hank Miller Team

JULY 7, 2022

In this frenzy, many deals were cash, many had very high down payments and others had either lenders waive appraisals or buyers that had cash to cover any appraisal below contract price. FNMA data shows that through the first half of 2022, only 8 of contracts had low appraisals. Expect that to change.,

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Appraisal Real Estate Agent Contracts Real Estate 52

Eppraisal

NOVEMBER 30, 2021

This is partly due to the shortage of available housing inventory this year. Many national builder developments across the country are selling homes faster than they have in some time. How National Homebuilders Sell Homes National homebuilders develop communities, often times with parks and amenties within. Horton, Lennar Corp.,

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Contracts Home Value Design Development 36

Housing Wire

JANUARY 19, 2023

Department of Housing and Urban Development. Builders watched inventories rise as buyers canceled contracts and new orders dried up. An estimated of 1.533 million housing units were started in 2022, down 3.0% compared to 2021, according to a report released Thursday by U.S. Census Bureau and the U.S. year over year.

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Inventory Construction Development Housing Market 383

Appraisal Today

APRIL 5, 2024

Significant developments have occurred in the case. The second development in the case is that on March 22, 2024, the attorneys for Drs. Appraisers must consider regional economic conditions, inventory levels, and buyer sentiment when evaluating properties. The average contract interest rate for 5/1 ARMs increased to 6.37

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Eppraisal

DECEMBER 6, 2022

Given the fact that the available inventory of houses is relatively modest -- and has been for a number of years -- it is little surprise that overall home value inches up. In brief, recessions result in significant contraction of the workforce -- job losses are common during these downturns.

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Real Estate Marketing Home Value Realtors 69

The Robert Weiler Company

APRIL 5, 2023

Industrial real estate investors and developers can’t add new properties to the market fast enough. According to a recent report from commercial real estate development association, NAIOP , there is a lot of optimism for the industrial sector, nationally, as supply chain conditions steadily improve. Consider subleasing.

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Landlords Tenants Logistics Real Estate 144

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday. Days on market increased slightly but remained below historic averages.

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Mortgage Real Estate Inventory Construction 354

Appraisal Today

AUGUST 4, 2023

Once the site was chosen, Bercy and Chen developed a plan to break the 3,000-square-foot house into three main volumes. However, high mortgage rates and limited affordable inventory keep exerting pressure on potential homebuyers. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.85

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Appraisal Business Contracts Real Estate 71

Appraisal Today

JULY 1, 2023

These resources supplement the initial documentation that was released in March 2023 to kick off industry development and preparation for the new appraisal dataset and report. Existing-home sales continued to be held back by a lack of for-sale inventory as many potential sellers are holding on to their lower-rate mortgages.”

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Appraisal Contracts Market Value Mortgage 85

Appraisal Today

AUGUST 18, 2023

That’s because scarce inventory is driving up prices, pushing many homes on the cusp over the seven-figure mark. Request a reasonable fee based on the time involved in developing, analyzing, and reporting the appraisal. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.93

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Appraisal Contracts Inspection Real Estate 75

Eppraisal

MARCH 13, 2021

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. Explain documents such as contracts and disclosures. * It's a contract with terms that both you and your buyer's broker must fulfill. Help you arrange inspections.

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Buyers Brokerage Contracts Home Value 36

Lamacchia Realty

JUNE 21, 2022

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. That’s because fewer homes are being placed under contract. Price adjustments/decreases were up across the country in May. See chart below.

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Housing Market Bracketing Marketing Sellers 62

Housing Wire

MAY 23, 2023

Census Bureau and the Department of Housing and Urban Development. Last year, while the Census Bureau was reporting the new home sales numbers and the builders were having high cancellation rates, the monthly sales report didn’t account for the cancellations of contracts. The Inventory for homes completed is at 70,000 = 1.23

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Inventory Housing Market Construction Marketing 516

Appraisal Today

JUNE 16, 2023

A Restricted Appraisal Report does not mean shortcuts may be taken in developing the appraisal. Rates that are still more than a percentage point higher than a year ago, and low for-sale inventory continue to constrain homebuying activity in many markets. The average contract interest rate for 5/1 ARMs decreased to 5.90

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Appraisal Contracts Design Mortgage 75

Appraisal Today

MAY 10, 2024

These policies were the result of a collaborative effort between the GSEs, the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA). Instead, they can have rights to it via an easement agreement until 2153—an arrangement that protects the house from developers. percent from 7.29

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Reconsideration of Value Appraisal Real Estate Insurance 73

Appraisal Today

JUNE 17, 2022

It did not even though many lots nearby were developed. NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. USPAP and the Contract. Excerpt: But USPAP and the contract have a very unique relationship.

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Appraisal Contracts Real Estate Mortgage 52

Appraisal Today

JANUARY 5, 2024

Elimination of Bias and Developing Cultural Competency – with Real World Relevance Required for California Appraisers Fulfills BREA’s new appraiser CE requirement for elimination of bias and cultural competency. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.76

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Appraisal Contracts Legal Business 75

Housing Wire

JULY 6, 2023

The purchase deal includes Truland’s homebuilding assets, which consist of approximately 263 lots, 155 homes in inventory, and 55 homes in the sales order backlog. We look forward to continuing as a key lot development partner for D.R. a national residential lot development company. Horton family,” Donald R.

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Contracts Development Insurance Construction 367

Cleveland Appraisal Blog

MARCH 30, 2021

There is a lot of demand out there, with very little inventory. Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. It may be due to inventory levels continuing to drop. They just look at the number.

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Housing Market Marketing Reconsideration of Value Contracts 368