Raleigh Realty

FEBRUARY 24, 2022

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. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."

Contracts 147

Contracts Real Estate Sellers Real Estate Agent 147

The Robert Weiler Company

JANUARY 2, 2021

In real estate, buyers and sellers must be knowledgeable to make informed decisions. 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.

Contracts 143

Contracts Tenants Legal Sellers 143

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 375

Lending Business Retail Client Relationships 375

Housing Wire

MAY 1, 2024

During the first quarter of 2024, Zillow recorded revenue growth across all sectors of its business, including a 31% annual jump in its rentals revenue to $97 million and a 19% year-over-year increase in its mortgage revenue to $31 million. Barton also touched upon the terms of NAR’s settlement agreement.

Agents 372

Agents Real Estate Contracts Real Estate Agent 372

Movoto

APRIL 8, 2024

After submitting an offer on a home you plan to purchase, a few things might happen – once an offer is accepted (typically, after negotiations but not always), real estate sales agreements come into effect between buyers and sellers. Should the buyer breach the contract (e.g., Financing Details. auctions, cash sales, etc.):

Contracts 36

Contracts Real Estate Property Taxes Legal 36

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond.

Mortgage 367

Mortgage Marketing Buyers Sellers 367

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

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. If 1 million agents disappear?

Real Estate Agent 474

Real Estate Agent Real Estate Agents Brokerage 474

Housing Wire

FEBRUARY 15, 2024

They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). They come in the forms of grants, second mortgages, deferred loans and forgivable loans. said Michael Ullmann, a producing branch leader at Movement Mortgage.

Mortgage 445

Mortgage Buyers Loan Officers Sellers 445

Housing Wire

APRIL 22, 2024

As a seller I want an opportunity to get as much from this earn out as I can and as a purchaser, if the market declines further, I don’t want the burden of a payment,” Murray said. However, before firms can begin to dive into the financial side of the deal, prospective buyers and sellers must figure out if they are a match.

Brokerage 381

Brokerage Real Estate Agents Sellers 381

Housing Wire

NOVEMBER 17, 2023

Sellers cut prices or offered concessions to get to the closing table. Meanwhile, about one-third of sellers offered concessions, such as money for repairs, closing costs and/or mortgage-rate buydowns. Since late October, mortgage rates have fallen slightly, spurring an uptick in buyer demand. month-over-month increase.

Buyers 411

Buyers Sellers Contracts Mortgage 411

Housing Wire

DECEMBER 15, 2021

Mortgage applications fell 4% for the week ending Dec. 10, large part because fewer borrowers are looking to refi their exiting mortgages, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. Compared to a year ago, mortgage applications declined across the board. from the week prior.

Inventory 400

Inventory Contracts Government Mortgage 400

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 366

Sellers Construction Real Estate Finance 366

Will Springer Realtor

MAY 2, 2023

They have safeguards built in to written agreements such as a purchase contract on a home. These are known as contingencies, or conditions, that require the buyer or seller to take an action or possibly a non-action as part of the overall agreement. This person represents the best interests of the mortgage company.

Contracts 55

Contracts Buyers HOA Inspection 55

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. from October 2022’s $378,800.

Inventory 400

Inventory Realtors New Listings Contracts 400

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Buyers 372

Buyers Sellers Finance Contracts 372

Housing Wire

NOVEMBER 28, 2023

Home prices rallied in September, as homebuyers still outnumbered sellers. Mortgage rates climbed over the period, reaching 7.3% The Case-Shiller index measures repeat sales data and reflects a three-month moving average, meaning that it tracks homes that went into contract in July, August and September. Home prices posted a 3.9%

New Listings 365

New Listings Contracts Inventory Sellers 365

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. Help them write a winning offer Understand what the seller is desiring beyond the asking price. In today’s market, having a preapproval, at the minimum, is a must.

Clients 413

Clients Real Estate Inspection Buyers 413

Housing Wire

SEPTEMBER 7, 2023

Sellers want their listing broker to pay the buyer broker’s compensation because it will result in the most buyers being able to afford their house.” If the traditional practice of sellers paying for both sides of the agents ends, housing agencies will have to weigh in to determine ways for buyers to finance their agents’ comp, LOs noted.

Buyers 391

Buyers Agents Loan Officers Real Estate 391

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 423

Investors Agents Real Estate Buyers 423

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

Appraisal Buzz

DECEMBER 27, 2021

Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Five months later, the frequency increased to 19%, leaving homebuyers to either pay more out of pocket or request the seller to lower their asking price. Pump-and-dump property financing could also become an issue.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 402

Agents Buyers Sellers Inventory 402

Housing Wire

DECEMBER 23, 2022

The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. The run-up in home prices was driven by rock-bottom mortgage rates and pandemic-fueled demand. Average mortgage rates jumped above 7% in November and have settled around 6.5%

Housing Market 386

Housing Market Marketing Inventory Buyers 386

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 515

Housing Market Marketing Real Estate Agent Real Estate 515

Housing Wire

JANUARY 2, 2023

Because most home sales take several months from contract to closing, the data likely includes some deals struck in June and July.). As the Federal Reserve moves interest rates higher, mortgage financing becomes more expensive and housing becomes less affordable,” Lazzara said. to a reading of 315.13.

Home Value 388

Home Value Housing Market Contracts Sellers 388

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. BD: First and foremost, the biggest pain point for brokers is finding lenders that offer mortgage solutions outside of the conventional lending box.

Finance 370

Finance Technology Lending Mortgage 370

Housing Wire

APRIL 25, 2023

Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,” Lazzara said. Because most home sales take several months from contract to closing, the data likely includes some deals struck in October and November.

Inventory 351

Inventory Contracts Buyers Sellers 351

Housing Wire

NOVEMBER 29, 2022

While buyers are stepping aside waiting for more affordable prices and rates – causing the slowdown on price growth – would-be sellers are sticking their ground and holding tight to the inventory they currently own,” Nicole Bachaud, Zillow’s senior economist, said in a statement. “As “On a monthly level, home prices continued to drop.

Inventory 362

Inventory Contracts Sellers Finance 362

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

Housing Wire

SEPTEMBER 28, 2021

In addition, homebuyers are continuing to enjoy low mortgage rates , boosting the demand for homes even higher. For-sale inventory levels charted their fourth consecutive monthly increase in August, and sellers appear to be taking a less aggressive approach when putting their homes on the market.

Housing Market 481

Housing Market Finance Contracts Inventory 481

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

Will Springer Realtor

OCTOBER 19, 2021

The home is under contact, seller and buyer have agreed to terms. Buyer is financing the purchase through a mortgage lender and the underwriter wishes to confirm the value of the home before issuing the loan. (No No lender will approve a mortgage on a home that is valued less than the agreed sales price.). Yes, “crap!”

Contracts 41

Contracts Appraisal Sellers Real Estate Agent 41

Raleigh Realty

MARCH 31, 2021

In every market though, things happen where homes that are under the contract may not reach the closing table and the contingency clause usually protects the buyer and sometimes the seller in the event the parties decide to terminate. The seller does not have the ability to accept another offer.

Real Estate 148

Real Estate Sellers Contracts Buyers 148

Realtor

APRIL 14, 2021

This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at Homebridge Financial Services. ” And did we mention that economists expect mortgage rates to rise? Some sellers are even receiving dozens of all-cash offers.

Mortgage 159

Mortgage Real Estate Agent Buyers Real Estate 159

Housing Wire

JANUARY 27, 2022

Use of the cash window for delivering mortgages to Fannie Mae and Freddie Mac was disrupted in a big way over the course of last year as lenders reacted to expectations that a cap on cash transactions was slated to go into effect by the start of 2022. You have to get a different kind of contract. That cap was set at $1.5

Mortgage 354

Mortgage Investors Finance Contracts 354

Lamacchia Realty

MAY 6, 2024

Their job is to make sure the sale from the seller to the buyer happens within the confines of the law, while also looking out for your best interests. This agreement is a binding contract that outlines the rights and obligations of the buyer and seller during the whole buying process. When Do I Need an Attorney?

Real Estate 67

Real Estate Legal Law Contracts 67