September, 2020

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No seasonal slowdown this year as real estate agents report a busier-than-usual fall

Housing Wire

Realtors can usually count on their biggest season being spring, followed by summer, but nothing about 2020 has been normal, including home-buying patterns. With shut-down orders in the spring, summer became the new home-buying season, but homebuyers were still incredibly active in August. Now, believe it or not, fall home-buying season is in full swing.

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Commercial Property Manager Maintenance Tips for Every Season

The Robert Weiler Company

Commercial property management is a year-round task as weather changes can bring unexpected complexities to inexperienced property owners throughout the seasons. Every season poses a unique set of challenges. The property you oversee must be ready for any weather condition, regardless if you’re encountering winter snow or summer winds. Managing apartment buildings, or an office, retail, or warehouse space?

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What are appraisers looking for?

Midtown Appraisal Group

How do appraisers arrive at a valuation of your home? We’ve talked before about the step-by-step process involved in the residential appraisal process. But what are appraisers really looking for when they’re walking around your property, making notes on their clipboard or tablet?

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Davis, Woodland, and Winters Market Update September 2020

Yolo Solano Appraisal Blog

Six months after the Covid-19 stay-at-home order hit Yolo County, what’s happened to residential real estate in local markets? Sales activity in Davis was low at the start of 2020 before the pandemic hit and continued into the spring with a massive drop in May. As shown below, Davis is way behind in sales compared […].

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How to Use Storytelling to Help You Sell a House

McKissock

Once upon a time, real estate listings were bloodless facts about the number of bedrooms, square footage, and amenities like a lap pool and flat backyard. Today, experienced agents are putting on their writers’ caps and telling compelling stories about properties for sale and using storytelling to help sell a house. From cradle to grave, people love stories, and that doesn’t change when they search for a property to buy or rent.

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Other Reasons to Get an Appraisal

Aspen Appraisal Group

An essential aspect of selling or buying a home is the appraisal. An appraisal on a home is an unbiased evaluation of what the property is worth. This is done by a certified or licensed professional. The appraisal includes an in-person inspection of the home and its condition along with comparable home sales in the market and within the neighborhood.

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What to Expect from a Property Management Company?

The Robert Weiler Company

If you own several properties (or even just one), the chances are that you don’t have much time on your hands. That’s why a property management company is the perfect solution for commercial real estate owners like you! Owning commercial property is a considerable undertaking. As an investor, you must ensure that your real estate appreciates by making smart improvements.

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Appraisal Issues – Low Values, Delays & Why; When Summer = Spring

JMV Lending

Our Social Media Manager recently noted a lot of comments on social media regarding appraisal issues – both low values and delays. The conditions that foster these issues are worse than ever right now and I wanted to discuss a few reasons why. LOW VALUES: WHEN SUMMER = SPRING Spring is usually the issue. Appraisers […]. The post Appraisal Issues – Low Values, Delays & Why; When Summer = Spring appeared first on JVM Lending.

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Challenging a mortgage appraisal

Annarbor Appraisal

Challenging the results of the appraisal for mortgage financing. The first thing to remember as a consumer or real estate agent, is that the client is the lender, not the consumer. Even though the consumer may pay for the appraisal, they are no more the client than is the credit reporting agency or title company hired directly by the lender. The lender obtains the appraisal to ensure that the collateral is adequate for the loan (remember the three C’s of credit, capacity, and collateral).

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Rental Property Management Tips: Renewal Incentives Tenants Actually Want

McKissock

Quality tenants—those who pay on time, take care of the property, and follow the rules of their lease—are a rental property manager ‘s dream. After all, finding new tenants is expensive and time-consuming. The cost of advertising, showing the property, screening potential tenants and more eats into landlords’ profits, especially as the property sits vacant.

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September Real Estate Market Update

Listing Spark

It’s a new month, but it hasn’t gotten any easier for buyers out there. Quite the contrary, it’s getting tougher every day. That’s great news if you are a seller though. . What’s driving this? In short, huge demand that inventory simply can’t keep up with. Homes are selling at such a feverish pace that active listings are plummeting across the board, further lowering our months of inventory available to buyers.

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Mortgage lending volume in 2020 likely to break records

Housing Wire

Fannie Mae , the world’s largest mortgage financier, said mortgage lending this year probably will reach an all-time high of $3.9 trillion. The dollar-volume record will be boosted by $2.4 trillion in refinancings, the highest level since 2003 and more than double the level seen in 2019, the mortgage giant said in a forecast on Tuesday. “We continue to believe that a low-rate environment will support refinance demand over the forecast horizon,” Fannie Mae said in the forecast.

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What Do Property Management Companies Do? (And How to Vet Them)

The Robert Weiler Company

Owning commercial property is a huge responsibility. Most building owners and multi-family real estate investors don’t realize that property management companies can completely relieve them of the day-to-day administration of property, prospects, and tenants. The ability to outsource oversight and stewardship of commercial property removes a considerable burden of responsibility, allowing CRE owners more time to focus on generating ROI on current and future investments.

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Assessing the Impact of COVID-19 on: Offices

Willowbrook Valuation

Over the next few months, we are taking a closer look at specific property types and discussing how they’ve changed since the start of the global pandemic. Our first installment of the series focused on the uncertainty surrounding the hotel industry. This time, we take a look at the impact of the pandemic on the […]. The post Assessing the Impact of COVID-19 on: Offices appeared first on Willowbrook Valuation & Advisory Services.

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Orland Park, Tinley Park and Oak Forest Multifamily Trends

Advanced Appraisal

09/11/2020

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What’s New in Appraisal Membership: September 2020

McKissock

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Do you already have an Unlimited Learning Membership ?

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Inequities in homeownership drive the racial wealth gap

REX Real Estate

Calls for social and economic change gripping America have shed new light on the…

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Zillow: Nearly 2 million renters can become homeowners, thanks to telecommuting

Housing Wire

Telecommuting is growing in popularity as more companies establish work-from-home protocols. With this new flexibility, nearly 2 million renter households could become homeowners , according to Zillow. Renters who are employed with a job that could be done remotely and might be priced out of their current market could afford to buy the typical starter home elsewhere in the U.S. “If remote work becomes a bona fide long-term option especially with the pandemic, that could reshape the U.S. ho

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Commercial Real Estate Appraisal Review: Essential Handbook to a Necessary and Influential 2nd Opinion

The Robert Weiler Company

In the age of social media, we’re frequently asking friends and family for their thoughts on a subject. Unlike a commercial real estate appraisal review, most of the answers from “Facebook experts” are not fact-based; the responses on your social media post will range from beliefs to convictions to opinions. Fortunately, we do not conduct commercial real estate appraisals on social media!

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Expert Home Security Tips and Tricks

PennyMac

Purchasing, updating, and decorating your home was a big investment. It is your family’s refuge and holds both treasured memories and valued possessions: in short, all things that you want to protect. We talked with several security experts to discover and share their top tips for home protection. Their advice was varied, but they all agreed that using a smart combination of the right tools, techniques, and safety measures is the key to protecting your home and family.

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Dallas TX For Sale By Owner Success Story

Listing Spark

Brian and Ginger recently sold their home in Lewisville TX (just outside Dallas) through ListingSpark and were extremely successful. Here is a glimpse through their journey that started as a For Sale By Owner. Like many other For Sale By Owner sellers around Texas, Brian and Ginger needed to sell their home but were looking for a different and affordable option.

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Fact Witness vs. Expert Witness: What’s the Difference?

McKissock

When a real estate appraiser is called to testify in a court, it could be as one of two types of witnesses. If you are called to testify as an appraiser, it’s important to determine at the time of the request which of the two types you will be: fact witness or expert witness. One has lower liability and responsibility, and the other has greater financial reward.

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How Did Farmhouse Style Become a Trend?

REX Real Estate

When someone says “modern farmhouse,” I instantly think of Chip and Joanna Gaines –…

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Why is the housing market thriving in a pandemic?

Housing Wire

The deadliest pandemic in more than a century has failed to derail the housing market because of the lowest mortgage rates ever recorded coupled with a shift in how people use their homes. “The buyers are coming in because of the low interest rates – that’s the No. 1 reason,” said Lawrence Yun, chief economist of the National Association of Realtors said in an interview with HousingWire.

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Tell-Tale Signs You Should Hire a Specialist in Real Property Management – Columbus, Ohio

The Robert Weiler Company

Columbus, Ohio is home to many residential and commercial rental properties. In the past few decades, we’ve noticed a steady increase in building owners and landlords looking for help. Let’s face it, property management is a long-term ordeal, and not everyone has the time to perform real property management – you are not alone. Maintaining and running a property can quickly become overwhelming.

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Do You Need 20% Down To Buy A Home?

PennyMac

The answer is, no. The down payment amount can vary depending on the type of loan for which you’re applying. Fortunately, there are numerous ways to save, as well as down payment assistance programs and other funding sources for buyers. We compiled a list of alternative options for your down payment. Let’s first see what the down payment amount is for the type of loan you’re looking at.

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Appraisals and Valuation Concerns in the Current Market

Simonson Real Estate

Since the onset of COVID, market data remains sparse for certain property types. The team at Simonson Appraisals has found that one of the best tools we have to overcome this challenge while continuing to produce reliable and credible appraisals is speaking with owners, lenders and other market participants dealing with the different segments of commercial real estate.

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Top 8 Must-Read Negotiation Books for Real Estate Agents

McKissock

As a real estate agent, your income is determined by your ability to close the deal. Therefore, negotiation skills are essential. To successfully master the art of real estate negotiations, you’ll want to find the most creative and powerful strategies available. To help you out, we’ve put together a list of the eight best negotiation books for real estate agents.

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4 Tips on How To Create a Gallery Wall

REX Real Estate

Whether you are a skilled photographer or art lover, building a gallery wall is…

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It hasn’t been this hard to get a mortgage in six years

Housing Wire

Mortgage credit in August was the tightest in more than six years as a weak economy prompted lenders to tighten standards, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index fell 4.7% to 120.9 last month, the lowest since March 2014, indicating stricter requirements to get loans. The index plunged from record highs seen in late 2019 after the COVID-19 pandemic caused the worst economic contraction since the Great Depression.

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The Hidden Value in Transitional Properties

Boston Appraisal

The backbone of any real estate appraisal is the highest and best use analysis. All properties have a highest and best use – and this is not always the current use. There are four qualifiers that help to determine the highest and best use of a property. The use of a property must be… Legally Permissible. Physically Possible. Financially Feasible.

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5 Key Property Features When House Hunting

PennyMac

When shopping for a home, many of us know our basic focal points, such as identifying the right neighborhood or finding a house with the ideal number of bedrooms and bathrooms. These factors are important, but there are other home features (some very large and some very small) that can greatly contribute to the enjoyment of your new home. Let's make sure you don’t miss any of them.

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Valuation Methods for Commercial Real Estate Appraisal

Appraisal Hub

Appraising the value of a commercial real estate property is never an easy task. There are many things to consider, such as the current market price, rental rate, and how much the buyer is willing to pay. If this is your first time selling or leasing a property, there are many appraisal services in Toronto that can help you. Here are commonly used valuation methods to give you an idea of what a property appraiser might use: Value per Unit – This method generally applies to apartment buildi

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3 New Types of Sustainable Insulation

McKissock

Sustainable insulation materials include things that are rapidly renewable and non-toxic. Have you ever worked with fiberglass insulation? It can get up your nose and cause your hands and any exposed areas to itch. It can get into your lungs and cause complications. Sustainable insulation is made from natural products such as wool, cotton, and soy-based foam insulation.