Remove Development Remove Housing Market Remove Market Value Remove Sellers
article thumbnail

Daren Blomquist’s 2023 housing outlook

Housing Wire

This article is part of our 2022 – 2023 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.

Retail 435
article thumbnail

Price Adjustments in this New Housing Market

Lamacchia Realty

For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying. The low rates made it possible to offer more on a home as the cost of borrowing was lower and therefore, sellers weren’t the ones competing, buyers were. The same will be true for sellers.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What’s The Leaven Causing Home Prices to Rise Today?

Cleveland Appraisal Blog

On many of my appraisals at that time, my opinion of value would not support the contract price. Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value.

Inventory 243
article thumbnail

Remember liar loans of a decade ago? Those same people want to do away with appraisers.

Miller Samuel

As we say in the petition , this change can impact several groups in particular: consumers, the taxpayers, the housing market and appraisers. The seller and the buyer determined the market value by agreeing on the price." from an out of market area) and will also mortgage fraud supercharged.

Appraisal 300
article thumbnail

What’s The Size of Your Driveway?

Cleveland Appraisal Blog

If this is the norm for the neighborhood, the size of the driveway may not have any impact on value. I find that often, driveway size does not have any major impact on market value, as long as the driveway is typical for the neighborhood. DOES THE MATERIAL THE DRIVEWAY IS MADE OF MAKE A DIFFERENCE IN VALUE? It depends!

Appraisal 243
article thumbnail

The Housing Market Has Become Like the Pymatuning Spillway

Cleveland Appraisal Blog

This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. Usually, the information further supports my opinion of value, when I take a closer look. That is a lot of bread! Does this seem healthy to you?

article thumbnail

Tips for Homeowners Concerned About Appraisals Below Contract Price

Will Springer Realtor

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.). (No Yes, “crap!”