Eyes on Housing

OCTOBER 28, 2022

of the total in Q3 2022–the smallest share since the fourth quarter of 2007. NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that new home sales financed through FHA numbered 11,000 and accounted for 7.5% The share has dropped by nearly two-thirds since the spring of 2020.

Finance 190

Finance Lending Mortgage 190

Appraisal Buzz

NOVEMBER 19, 2024

However, the stock of low-cost homes declined from 2007 to 2022 due to home price appreciation. Between 2007 and 2022, distressed areas saw consistently higher levels of all-cash purchases than affluent areas, despite residents there having lower incomes and less wealth than the city as a whole. Louis to 175% in El Paso.

Lending 418

Lending Mortgage Investors Development 418

Housing Wire

FEBRUARY 3, 2021

If this happens, it would prove a dramatic contrast to that of the financial crisis, in which lenders tightened credit standards from 2007 through 2010, said Curt Long, National Association of Federally-Insured Credit Unions chief economist and vice president of research.

Lending 545

Lending Mortgage Insurance Housing Market 545

Housing Wire

MAY 31, 2024

Large institutional investors typically emerged following a raft of defaults and foreclosures stemming from the 2007-08 financial crisis , putting inventory on the market from 2007-09.

Investors 447

Investors Inventory Government Construction 447

Appraisal Buzz

OCTOBER 14, 2024

The gap was as wide as 18% in 2012, following the global financial crisis of 2007–2009, when many minority communities were hit especially hard, setting back progress by several years. However, the gap remains wider compared to mid-2022 (17.2%) and mid-2007, shortly before the housing bust (16.3%). last year and a recent high of 12.4%

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Home Value Construction Buyers Mortgage 394

Housing Wire

OCTOBER 1, 2024

A NAR spokesperson wrote in an email that the trade group is grateful for Johnson’s service which began in 2007. In the email, NAR said it will be hiring additional outside counsel this week, who will have a sole focus on risk assessment.

Legal 482

Legal Realtors Development Business 482

Housing Wire

JULY 2, 2024

She then became Fannie’s associate general counsel for fair lending from 2002 to 2007, and was associate general counsel for customer strategies and consumer law from 2007 to 2009.

Lending 434

Lending Human Resources Law Government 434

Housing Wire

SEPTEMBER 1, 2021

Barack Obama uttered those words on the footsteps of the Illinois state capitol in 2007 – a speech where the former Illinois state senator declared his candidacy for president. median home price of $207,000.

Realtors 396

Realtors Real Estate Inventory Marketing 396

Housing Wire

MARCH 20, 2023

McGarry joined Guild in 1984 as a supervisor in internal audit and held several leadership positions until promoted to president in 2005 and CEO in 2007. Guild’s executive vice president David Neylan, who joined the company in 2007, will replace Schmidt as president. Terry Schmidt, Guild’s current president, is the successor.

Retail 370

Retail Loan Officers Mortgage Investing 370

Housing Wire

MAY 8, 2024

million, currently at 1,110,000 As you can see above, inventory grew at a healthy clip in previous decades and then had a parabolic run higher in 2006 and 2007 when active inventory reached 4 million. Just look how lousy credit looked below in 2005, 2006 and 2007 — all before the job-loss recession in 2008.

Inventory 518

Inventory Law New Listings Sellers 518

Housing Wire

SEPTEMBER 21, 2023

As we can see in the chart below, even with the biggest home sales crash in history for one year, inventory data has yet to return to the peaks we saw in 2007. Getting back to the four-decade average between 2-2.5 million has been a struggle. Remember, people don’t sell to be homeless; they sell to obtain shelter most of the time.

Inventory 523

Inventory Housing Market Mortgage Marketing 523

Housing Wire

FEBRUARY 9, 2021

He grew the firm to 23 offices with 1,100 agent before selling the company at the end of 2007. McClelland was a top Realtor before starting a small independent firm in Atlanta after his first year in the business. McClelland joined Metro Brokers in April of 2008 as the Director of Strategic Growth.

Real Estate 418

Real Estate Technology Realtors Investors 418

Housing Wire

MAY 21, 2024

Founded in 2007, it was the only top 10 national lender to grow its sales volume on a year-over-year basis in the first half of 2023, according to Inside Mortgage Finance data. In March , Planet hired Matt Kingsborough as regional sales manager to drive the company’s expansion plans in the western U.S.

Lending 436

Lending Technology Business Finance 436

Housing Wire

MAY 14, 2021

Not to mention, during the 2007 housing market crash, some had just bought their first homes and unfortunately, lost their homes during the crash. And are hopefully more financially stable than the average 20 something-year-old. But that’s not the only reason this generation is shopping for their dream home now.

Housing Market 544

Housing Market Marketing Buyers Real Estate 544

Housing Wire

MARCH 22, 2024

in 2023, the lowest level posted since 2007. At the national level, homes flipped in 2023 were sold for a median price of $306,000 and generated a gross flipping profit of $66,000, a 5.8% decline from the typical profit of $70,100 in 2022. Return on investment (ROI) was 27.5% For comparison, ROI was 28.1% in 2022 and 35.7%

Investors 511

Investors Real Estate Investing Marketing 511

Housing Wire

NOVEMBER 10, 2022

from 2006 to 2007 and another 20.9% from 2007 to 2008. During that time, total households in the U.S. grew by 16 million — just about 20% growth in the number of households in a time where housing sales were essentially flat for 17 years. The next major downturn, which started in 2006, saw unit sales fall 10.3% from 2008 to 2009.

Mortgage 493

Mortgage Housing Market Lending Finance 493

Housing Wire

AUGUST 24, 2020

More than 75% of panelists said the Federal Reserve monetary policy is currently “about right,” the highest approval level since 2007. About 51% supported enacting structural policies to support stronger economic growth, 22% wanted greater spending restraint, while 19% would increase tax revenues.

Business 527

Business 527

Housing Wire

MAY 8, 2024

Founded in 2007 in Las Vegas , Panorama originated from Alterra Home Loans , which carved out a niche by catering to first-time Hispanic homebuyers. Additionally, there are no property location or census tract constraints, making the program accessible within PMG’s nationwide footprint.

Human Resources 410

Human Resources Mortgage Legal Design 410

Eyes on Housing

NOVEMBER 17, 2023

Despite weakness for single-family construction in 2023, townhouse construction recorded the best quarter for starts in 16 years.

Construction 174

Construction Design 174

Housing Wire

MARCH 7, 2022

Attorney members who joined ATG between 1964 and 2007 and their successors have been asked to vote on the merger. For a variety of reasons, we stopped selling shares in 2007. ATG president and CEO Peter Birnbaum announced the plans for the merger in early January in an email to ATG agents and shareholders.

Insurance 369

Insurance Retail Real Estate Clients 369

Housing Wire

MARCH 7, 2022

Attorney members who joined ATG between 1964 and 2007 and their successors have been asked to vote on the merger. For a variety of reasons, we stopped selling shares in 2007. ATG president and CEO Peter Birnbaum announced the plans for the merger in early January in an email to ATG agents and shareholders.

Insurance 369

Insurance Retail Real Estate Clients 369

Housing Wire

JUNE 18, 2021

In an economic outlook panel at HousingWire’s Engage.marketing event on Thursday, Duncan explained that in the 2007 to 2009 downturn, the industry went from building 2.2 It’s going to take all of them. million units to 600,000, and stayed around that level for three years.

Supply Chain 439

Supply Chain Housing Market Marketing Inventory 439

Housing Wire

MARCH 18, 2024

Founded in 2007, Nations Direct Mortgage is a direct seller to Fannie Mae , Freddie Mac and Ginnie Mae , according to its website. The wholesale lender notified impacted individuals of the data breach at the end of February. Customers were notified of the protection services earlier this month.

Mortgage 459

Mortgage Government Sellers Technology 459

Housing Wire

AUGUST 2, 2021

Banks reported that standards were the easiest pre-financial crisis (2005 to 2007) and tightest post-financial crisis (2008 to 2010) across all loan categories. However, despite the loosening of standards, they continue to be elevated for residential real estate loan products when compared to standards in 2019, the report noted.

Mortgage 493

Mortgage Lending Loan Officers Government 493

Housing Wire

SEPTEMBER 15, 2023

That is how the director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra , began his remarks marking the 15th anniversary of the collapse of Lehman Brothers , the first proverbial domino to fall in the financial crisis of 2007-08 that ultimately gave rise to the establishment of the CFPB.

Law 432

Law Lending Investing Insurance 432

Housing Wire

JANUARY 13, 2022

The leading plaintiffs are two couples, Phillip and Sara Alig and Daniel and Roxanne Shea, who refinanced their mortgages in 2007 and 2008, respectively. Expert witnesses estimated the actual 2007 value of their home to be as much as $26,000 less than the appraised value. The Aligs obtained a $113,000 loan, putting them underwater.

Appraisal 448

Appraisal Law Valuation Home Value 448

Housing Wire

MARCH 21, 2024

Founded in 2007, it was the only top 10 national lender to grow its sales volume on a year-over-year basis in the first half of 2023, according to Inside Mortgage Finance data. Planet Home Lending is an originator, correspondent lender, servicer and subservicer of agency and nonagency residential and commercial mortgages. increase.

Lending 439

Lending Retail Contracts Construction 439

Housing Wire

SEPTEMBER 21, 2020

Here is what we learned: For those who endured the 2007 crisis, market stability was the most immediate concern…and still continues to be. What was interesting – even across different sectors of the industry – was that the expressed concerns pointed to a similar solution.

Real Estate 459

Real Estate Legal Government Mortgage 459

Housing Wire

MARCH 23, 2023

Back in 2007 — after existing home sales got as low as we have seen in the recent data as the chart below shows — total active listings were above 4 million. This is a massive difference in inventory data and a plus for the homebuilders, which they didn’t enjoy in 2007.

Inventory 545

Inventory Housing Market Construction Marketing 545

Housing Wire

DECEMBER 29, 2020

Single-family housing starts saw their highest gain since 2007 in November, according to the U.S. Larger homes have become more popular as more homeowners are working from home, becoming a main driver for construction. Census Bureau. Housing starts rose 1.2% in November compared to October and are up 12.8% million starts.

Construction 543

Construction Buyers Realtors Inventory 543

Housing Wire

AUGUST 10, 2022

Founded in 2007, Panorama originated from Alterra Home Loans , which carved out a niche by catering to first-time Hispanic homebuyers. Broadening homeownership opportunities and serving our customers well is what we’re all about.”.

Lending 448

Lending Human Resources Mortgage Loan Officers 448

Housing Wire

MARCH 7, 2024

In 2007 Harney founded Keeping Current Matters to help agents understand what was happening in the run-up to the great financial crisis. He became a top-producing real estate agent in the area and in 1991 became the manager of the largest office for Prudential Long Island Realty , training agents throughout the East Coast markets.

Real Estate Agent 105

Real Estate Agent Real Estate Agents Brokerage 105

Housing Wire

OCTOBER 27, 2020

Though supply remained tight, the industry may be catching up, as single-family housing starts rose to an annual rate of 1.108 million in September , a level not seen since 2007, and up from August’s 1.021 million, according to the U.S Census Bureau.

Technology 531

Technology Housing Market Investing Mortgage 531

Housing Wire

DECEMBER 13, 2022

He also stressed that the conditions present in 2007 during the foreclosure crisis look very different than today. Yun also noted the difference in inventory conditions today compared to 2007 and 2008 when there were about 4 million homes on the market. Back in 2008 there were 8 million job losses in a single year,” Yun said.

Realtors 435

Realtors Mortgage Real Estate Housing Market 435

Housing Wire

AUGUST 18, 2021

“There are now almost 690,000 single-family homes under construction – the largest number since 2007. This is clearly a positive sign given the remarkably low levels of inventory on the market.”

Supply Chain 505

Supply Chain Construction Inventory Buyers 505

Housing Wire

FEBRUARY 20, 2024

The division’s leadership team will now also include Dan Ventura, who has served at Fairway since 2007 and last year was appointed as VP of reverse mortgage operations. “This partnership underscores Fairway’s commitment to the highest levels of professionalism and ethics in serving senior homeowners.”

Investing 456

Investing Mortgage Lending Business 456

Housing Wire

APRIL 30, 2023

In 2007, when sales were down big, total active listings peaked at over 4 million. We had high inventory levels while the unemployment rate was still excellent in 2007. This proves that the mass supply growth we saw from 2005-2007 was due to credit stress, not because the economy was in a recession; the U.S.

Inventory 525

Inventory Housing Market Marketing New Listings 525