Housing Wire

NOVEMBER 1, 2023

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” So, the deals aren’t as attractive to sellers. …We’ll

Mortgage 441

Mortgage Loan Officers Finance Buyers 441

Housing Wire

NOVEMBER 7, 2023

Loop your buyer’s lender into the mix and have coffee with your buyer clients and the loan officer to discuss loan options that meet their goals. If they’re dying to be in just one specific neighborhood, door-knock that neighborhood for them to uncover the next motivated seller. Be a matchmaker.

Clients 432

Clients Buyers Real Estate Agent Real Estate 432

Realtor

SEPTEMBER 13, 2023

“The homeowner, loan officer, and often the real estate agent work together to find better comparable market data to justify a higher valuation,” says Casey Fleming , a mortgage adviser and author of “ The Loan Guide: How to Get the Best Possible Mortgage.” . In fact, it’s a total team effort. ” 4.

Appraisal 193

Appraisal Sellers Real Estate Agent Valuation 193

Housing Wire

APRIL 13, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and home sellers while also playing an expanding role as personal advisors. Presented by: Propertybase. ” Redfin also looked at specific markets when studying midweek sales.

Sellers 410

Sellers Buyers Real Estate Agent Real Estate 410

Housing Wire

FEBRUARY 15, 2024

And if the DPA loan does not come from a national DPA provider, loan officers need to have underwriting guidelines rewritten to the DPA provider’s standards, which could take longer than getting a conventional loan. “A A lot of these programs that I’ve heard of could take 45 to 60 days to get to the finish line.

Mortgage 450

Mortgage Buyers Loan Officers Sellers 450

Appraisal Buzz

MAY 17, 2021

As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up. Almost daily, there is some story on social media about being “turned in” to the state by a disgruntled agent, buyer, or seller for appraising a property below the contract price.

Appraisal 418

Appraisal Clients Real Estate Sellers 418

Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

Housing Market 534

Housing Market Buyers Marketing Real Estate Agent 534

Housing Wire

DECEMBER 27, 2022

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. But the housing market in the second half of 2022? The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green.

Housing Market 527

Housing Market Marketing Real Estate Agent Real Estate 527

PennyMac

MARCH 4, 2024

Starting the Loan Certification Process When choosing a lender, look for one that offers a written letter or certification you can provide to sellers to let them know you are qualified. You’ll have peace of mind knowing your borrowing limit and be able to show realtors and sellers that you’re serious about purchasing.

Loan Officers 65

Loan Officers Insurance Mortgage Sellers 65

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. I remember loan officers telling me that I needed to be “creative” with my appraisals. I kid you not!

Inventory 243

Inventory Market Value Appraisal Contracts 243

Miller Samuel

FEBRUARY 12, 2019

In ’09, Miller said sellers were anchored to the “pre-Lehman, pre-financial crisis asking prices” and had to travel farther on price to meet a buyer. Miller measures listing discount by the percent difference between the contract price and the price that the property was listed for sale at the time of contract – not when it was first listed).

Marketing 221

Marketing Real Estate Appraisal Sellers 221

Realtor

OCTOBER 16, 2023

Listing agents are going to recommend their seller ask for shorter time periods for loan approval.” “Given the rapidly rising asking prices and multiple-offer scenarios going on, it is quite possible that a property may not appraise at the agreed upon contract sales price. ” 10. .

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

Eppraisal

APRIL 20, 2021

It's a sizzling, fast-paced seller's real estate market right now. A full pre-approval is when a mortgage loan officer pulls your credit, verifies your employment and income, has your complete application and has all the required documents from you. Your loan officer may even put your file through an initial underwriting.

Sellers 66

Sellers Loan Officers Inventory Home Value 66

Cornerstone

JULY 1, 2021

Sellers who list may find a golden opportunity: Right now, you’re likely to sell your house quicker and at a better price. This summer, sellers benefit from the fact that mortgage rates still hover around the rock-bottom lows seen during last year’s COVID crisis. Remember, sellers do plan on re-entering the market soon.

Sellers 61

Sellers Buyers Real Estate Agent Inventory 61

PennyMac

JANUARY 2, 2024

It differs from a typical rate lock since you lock in the rate while shopping for a house—with the intention that you’ll find one in the next 60 days or so—and lock the rate once you go under contract. A BuyerReady Certification is Pennymac’s unique loan certification process that can tell you the mortgage amount you could qualify for.

Mortgage 36

Mortgage Contracts Loan Officers Marketing 36

McKissock

JANUARY 18, 2022

A good agent is willing to share their knowledge of different areas, as well as share their contacts regarding loan officers, essential documentation that shows sellers the buyers are serious, among other services. They are honest about what the client can afford, and they are willing to go to bat for them. Answer Questions.

Real Estate Agent 96

Real Estate Agent Real Estate Agents Buyers 96

PennyMac

JULY 20, 2021

Find an agent who really understands the different contracts you need and how to properly fill them out, the legal obligations you’ll run into, and the financial side of the business. How many are sellers? But just because an agent knows your desired zip code does not mean they have been successfully helping buyers and sellers there.

Real Estate Agent 69

Real Estate Agent Real Estate Agents Sellers 69

Genworth MI Blog

AUGUST 31, 2022

Similarly, buyers began waiving inspection contract contingencies, which give the buyer options for negotiating remedies or price with the seller if the inspection reveals major issues. Some buyers have even gone a step further by waiving inspections altogether.

Inspection 78

Inspection Appraisal Marketing Appraisal Process 78

Assurance Financial

DECEMBER 20, 2021

In a traditional home sale, the seller lists the house for a price that will cover the following costs: The mortgage’s remaining costs. Existing home equity loans or home equity lines of credit (HELOCs), if applicable. After taking care of the above expenses, whatever amount is left over is the seller’s profit.

Mortgage 74

Mortgage Sellers Buyers Finance 74

McKissock

APRIL 20, 2021

Receive basic training in contracts and how to price properties using comparative marketing analysis. Meet with/learn from service providers such as loan officers, title companies, attorneys, home warranty, and insurance companies. Refer buyers and sellers out to other agents locally and across the country.

Real Estate Agent 98

Real Estate Agent Real Estate Agents Realtors 98

Cornerstone

MAY 4, 2021

But before you sign any contracts, keep in mind that there’s something unique going on in today’s housing market. Right now, many sellers who are putting their homes on the market as-is are selling much quicker than expected. Love your loan as much as you love your new house. You: I’m selling my house. What should I do next?

Renovations 41

Renovations Home Improvement Loan Officers Real Estate Agent 41

Housing Wire

AUGUST 4, 2023

Yes, you should certainly be able to post an impressive listing and understand the ins and outs of closing, but helping buyers and sellers means cultivating a diverse set of skills to navigate a complex and ever-changing real estate market. It’s not just a simple business transaction for these sellers and buyers.

Real Estate Agent 370

Real Estate Agent Real Estate Agents Clients 370

PennyMac

OCTOBER 12, 2022

Borrows who pursue loan pre-qualification may receive a pre-qualification letter which they can share with real estate agents or home sellers as proof that they are working with a licensed lender. What Information Do I Need to Pre-Qualify for a Home Loan? Pre-approval , on the other hand, is more official.

Real Estate Agent 36

Real Estate Agent Real Estate Sellers Loan Officers 36

Housing Wire

MAY 10, 2023

For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity. This has serious consequences for real estate agents and loan officers alike, since it’s usually a zero sum game. One home recently had over 60 offers!

Loan Officers 384

Loan Officers Marketing Inventory Real Estate Agent 384

Birmingham Appraisal

SEPTEMBER 15, 2022

Other nontraditional uses for an appraisal include valuation for insurance companies, helping sellers arrive at a market value to list their home, estate planning, and tax appeals. Other users might be sellers, mortgage underwriting, banks, and contractors. What If The Appraisal Is Less Than The Contract?

Appraisal 91

Appraisal Inspection Appraisal Process Real Estate Agent 91

PennyMac

JUNE 28, 2022

Throughout the process of buying a home, many professionals have contributed important services, and both buyers and sellers will need to pay fees for that before the property can be officially sold. Closing costs can apply to both the buyer and seller. Down payments of 10–24.99%—sellers can contribute 6% of closing costs.

Insurance 36

Insurance Property Taxes Sellers Inspection 36

Town & Country Residential Appraisals

JANUARY 24, 2020

If you ever experience this from a loan officer, feel free to report this behavior to the CFPB here. They always come in at exactly the contract price. If agents have done their job, then the contract price should be close to the market value. This one is hard to understand.

Appraisal 36

Appraisal Market Value Contracts Clients 36

Cleveland Appraisal Blog

MARCH 30, 2021

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. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. There is just not much out there to buy.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Cornerstone

OCTOBER 26, 2021

In the past few months, it’s become commonplace for an appraisal to come back under a home’s contract price. Based on CoreLogic data, this graph shows the rate at which appraisal gaps have been increasing: How might this impact you as a buyer or a seller? Lean on your loan officer for guidance.

Sellers 57

Sellers Buyers Appraisal Loan Officers 57

Housing Wire

JULY 25, 2023

Loan officers — myself included — need to strengthen their mindset. When you look at a sales contract that is obtaining mortgage financing, 70% of the components of that offer are mortgage-related. So, if I can deliver faster than the other offer, the seller is going to select our offer over the competitor’s.

Real Estate Agent 363

Real Estate Agent Mortgage Real Estate Training 363

Housing Wire

MAY 31, 2022

increase year over year for properties under contract, indicating that demand in the city remains strong,” said Elizabeth Anne Stribling-Kivlan, Compass’ senior managing director. The expansion comes amid a surge in mortgage rates and declining loan origination volume. Nationally, there was a year-over-year decrease of 2.3%

Mortgage 384

Mortgage Construction Lending Real Estate 384

PennyMac

APRIL 2, 2020

Getting this first step in the loan process completed before you start looking at homes will ensure that you are ready to make an offer (and succeed!) Plus, some sellers will only consider offers from buyers who are pre-approved, so it’s best to set yourself up for success with this easy move. when you find your dream home.

Real Estate Agent 36

Real Estate Agent Inspection Sellers Real Estate 36

PennyMac

DECEMBER 22, 2020

In many cases, lenders are motivated sellers who do not want to sit on their REO inventory, and (depending on the bank’s history with the property) these homes may be priced at a discount. Depending on the lender, you may need to submit special contract forms or paperwork. 10 Steps to Buying REO Properties.

Inspection 69

Inspection Real Estate Agent Real Estate Agents 69

Appraisal Today

SEPTEMBER 15, 2023

May a representative of the lender provide an appraisal management company a list or a panel of appraisers to use for loans involving a specified mortgage broker, real estate agent, or loan officer? This typically happens when an appraiser turns in an appraisal with an appraised value opinion lower than the sale contract price.

Appraisal 83

Appraisal Real Estate Agent Contracts Real Estate 83

Housing Wire

JULY 19, 2023

It [publicity] helps the advisors, and it helps the [loan-officer] recruiters, but it doesn’t exactly help the buyer and seller trying to get settled in a transition of the assets of the company.” Normally you’re trying to keep it out [of the public eye],” he explained. “It

Mortgage 370

Mortgage Marketing Buyers Lending 370

Housing Wire

SEPTEMBER 21, 2023

We did a study with T360 recently, just looking at the agent experience and we came back with about 20 different point solutions that an agent has to use just to perform their duties in representing a buyer or seller of a home. And, frankly, give them more time in the day to spend with their buyer or seller. But it’s weird.

Technology 410

Technology Real Estate Agents Design 410

Realtor

DECEMBER 15, 2016

AndreyPopov/iStock Buying real estate often requires some serious haggling between home buyer and seller, to arrive at a price that they’re both willing to accept. But if a buyer isn’t willing or able to pay the difference between the appraisal amount and the sales price, there are options: Negotiate with the seller.

Appraisal 78

Appraisal Real Estate Agent Real Estate Mortgage 78