Cleveland Appraisal Blog

APRIL 15, 2021

Although certain things, such as crowded open houses, will be off-limits for the time being, it’s still entirely possible to buy a new home. Look to a mortgage forecast to get an idea of potential interest rates. The Housing Market Needs More Cowbell – Housing Notes by Jonathan Miller. Let the Hunt Begin!

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Lamacchia Realty

JANUARY 4, 2022

Not Getting Pre-Approved for Mortgage Looking around for a new home when you have no idea how much money you’ll be able to borrow is setting yourself up for failure and disappointment. Obtain a mortgage pre-approval before going into any open house.

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Lamacchia Realty

OCTOBER 25, 2023

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Inventory didn’t increase at the rate most assumed it would.

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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. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.

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Zillow

SEPTEMBER 12, 2019

Old inventory may mean deals. You’ll likely notice fewer buyers at open houses, which could signal a great opportunity to make an offer. 5 Mortgage Misconceptions Set Straight. If you’re in the market for a home, here are five reasons why fall can be a great time to buy. Top photo from Shutterstock.

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Housing Wire

MAY 10, 2023

You may have heard the good news: In recent weeks, several mortgage and real estate brokerage execs have exclaimed that we may have already reached the bottom of the market. 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.

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Housing Wire

OCTOBER 20, 2023

Particularly in the 2023 economy, with interest rates on mortgage rates stubbornly perched around 7.5% and dwindling inventory in most states, today’s brokers must get creative to keep a fresh pipeline of homebuyers coming through the door. When executed correctly, open houses can lead to a revolving door of new clients and leads.

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Lamacchia Realty

MARCH 17, 2022

A lot of people are wondering about how the current situation impacts otherwise normal questions about inventory and when the right time would be to list. Inventory started low in 2020, and then dropped even lower in March 2020 during the stay-at-home mandates.

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Lamacchia Realty

JUNE 21, 2021

For almost 12 months, the market inventory has been so low that buyers have become used to bidding wars. It was rare to find a properly priced home for sale that wasn’t receiving multiple over-asking offers after a mobbed open house. Although historically speaking its still very high as you can see compared to prior years.

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Inman

NOVEMBER 15, 2023

The CEO stressed to agents during a keynote address at Compass RETREAT on Tuesday that getting back to basics and forging sincere connections with clients would be the key to surviving and thriving in the current market.

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Lamacchia Realty

AUGUST 3, 2021

Inventory is still very tight despite a slight increase, and as you can see in the chart below from our Massachusetts Updates page , the percentage of homes placed under agreement out of total inventory is still higher than it ever has been but its noticeably lower than it was in the first six months of the year.

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Cornerstone

APRIL 2, 2021

The past year has been unprecedented for the housing market. Mortgage rates reached new lows multiple times, and buyers took advantage of this surge in affordability by snapping up available houses. Housing authorities like Freddie Mac predict a “strong spring sales season” ahead. ICE Mortgage Technology, Feb.

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Empire Appraisal Group

JANUARY 4, 2023

Demand has plummeted as mortgage rates hit a two-decade high, but prices haven’t declined much in part because supply remains correspondingly low. The start of the year, of course, is when homeowners and real estate agents start to bring new inventory to market. It would take just 3.3

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Home Junction

APRIL 30, 2020

Many potential sellers don’t want open houses and are reluctant to have people walking through their homes. Some people are having difficulty obtaining mortgages. Since inventory is tight, and there is still a huge number of Millennials out there looking to purchase, that will create activity even during a slowdown.

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Listing Spark

JULY 5, 2023

Real estate investors who want to stay nimble in this market (especially as inventory stays low and prices stay meteorically high) need to adopt every tool at their disposal to stay informed and to quickly assess homes just entering the marketplace.

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Assurance Financial

MAY 10, 2022

Though many individuals are interested in purchasing a home, the inventory of available properties is low. Sellers have an advantage in this housing market since the lack of available homes creates more competition among buyers. Increasing prices and decreasing inventory often indicate a seller’s market.

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Home Junction

MAY 28, 2020

Third, mortgage rates are still at super historic lows. But many others are citing a major reason for this is because inventory is still low, which frankly, was an issue earlier. Because it may be difficult for buyers to visit multiple properties and attend open houses, the search process will need to be narrowed down ahead of time.

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Houston Properties

JANUARY 13, 2021

Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007. In addition, mortgage rates are at an all-time low. Some companies are offering 30-year fixed-rate mortgages for less than 2.3%. 2020 ended favoring sellers.

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Lamacchia Realty

MARCH 26, 2024

As you can see in the chart below, Florida has the highest shift in rising inventory over the past twelve months. Source Condo inventory has been rising more than single families as sales have been decreasing since 2023. Source Inventory rises when more sellers are listing than buyers are buying.

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Home Junction

MAY 14, 2020

The software will send them market updates with the number of homes for sale, existing inventory, trends in sale prices, and other critical data. Perhaps they have an open house coming up. Educate them about the mortgage process. In the automated program, plug in homeowners who have expressed an interest in selling.

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D Fritz Appraisals

JULY 15, 2020

Live-streamed open houses, virtual walkthroughs, masks and sanitizer waiting at listed homes became common as the first weeks wore on. Competitive/ multiple offers have also become common due to limited inventory. The Vancouver Island Real Estate Market Bounces Back. Changes in Pricing Could Lead to New Opportunities.

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Appraisal Today

JULY 29, 2022

From horror movie-esque semi-abandoned homes for rent to home decor that overshot “unique”, the owners and agents behind these funny ads thought things were perfect just as they were for their photos and open houses. Iconic Zigzag Midcentury House in Sarasota, FL. Spiking housing supply & fewer buyers. July 25, 2022

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Lamacchia Realty

JUNE 21, 2021

For almost 12 months, the market inventory has been so low that buyers have become used to bidding wars. It was rare to find a properly priced home for sale that wasn’t receiving multiple over-asking offers after a mobbed open house. This means that more inventory is lingering on the market now that more homes are being listed.

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Lamacchia Realty

JUNE 10, 2022

When COVID hit , policy makers flooded the market with all different kinds of stimulus and the Federal Reserve started buying a historic number of mortgage-backed securities to drive mortgage interest rates down. That’s not going to happen. Congratulations, frustrated home buyers ! Interest rates can’t go from 2.8

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Assurance Financial

NOVEMBER 9, 2021

Because in a buyer’s market, there’s more housing inventory and lower prices, giving power to the buyer. In a market that favors buyers, sellers and their realtors have to put in a much greater effort to make their homes stand out through means of social media, open houses, and advertisements.

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Lamacchia Realty

JUNE 18, 2021

A lot of people are wondering about how the current situation impacts otherwise normal questions about inventory and when the right time would be to list. Inventory started low in 2020, and then dropped even lower in March during the stay-at-home mandates.

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Sellers Realty Buyers Realtors 66

Will Springer Realtor

MARCH 10, 2023

Sellers who priced their homes appropriately enjoyed busy open houses in their first weekend on the market followed by multiple offers. However, many potential buyers appeared to be in a wait-and-see mode amid a backdrop of rising mortgage rates that usually spell affordability challenges.

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Housing Wire

APRIL 21, 2022

Last May, Sam Khater, chief economist for Freddie Mac , the government-sponsored enterprise and mortgage purchaser, issued a report with the grim conclusion: “Inventory of both new and existing homes for sale is currently at a historical low.”. “They’re stressed on so many fronts right now.”. That’s $307,000 in non-construction costs.

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Will Springer Realtor

MARCH 14, 2023

Sellers who priced their homes appropriately enjoyed busy open houses in their first weekend on the market followed by multiple offers. However, many potential buyers appeared to be in a wait-and-see mode amid a backdrop of rising mortgage rates that usually spell affordability challenges. Condo inventory stands at 1.7

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Housing Wire

MARCH 22, 2024

We can help them avoid common pitfalls and navigate the inventory to make the best decision for their unique needs and financial goals. We’ve compiled this house-hunting checklist you can review with your buyer clients to help them better understand the home-buying process. Visit open houses.

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Houston Properties

JANUARY 12, 2022

The buying frenzy and low inventory we saw last year and will continue to see for better parts of this year may push buyers (specially if driven by bad advice from an unseasoned Realtor) to make bad decisions. As home prices increase over time, it lowers the loan value of any mortgage debt. With less than 1.6

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Houston Properties

JULY 22, 2022

Hot housing markets don’t last forever, here are six reasons why now is a great time to sell a Houston home: 1. The combination of low inventory and high demand is great for sellers. The principal and interest on a 30-year fixed mortgage for $300,000 are less than $1400 per month. year-over-year.

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Will Springer Realtor

SEPTEMBER 8, 2021

There are no signs of a real estate crisis, particularly in the Puget Sound region, where prices keep rising – up about 20% the past year and 68% in Seattle alone since 2016, by one measure – amid a dearth of inventory and surge of buyers. See the August housing report further below, if you dare!). That’s fair.

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Appraisal Today

MAY 5, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Appraisal Institute President, non-lender appraisals, Changing state appraisal laws, Fannie modernization, unusual homes, mortgage origination stats, etc. To read more and see the fascinating photos (some show a person in the house) Click Here.

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