Housing Wire

DECEMBER 29, 2022

Part of the issue is that mortgage rates moved up so fast that many sellers quit this year as well. Key thing to remember: A traditional seller is also usually a buyer. When mortgage rates spiked up as much as they did this year, it wasn’t financially appealing to some sellers to purchase their homes at rates of 6.25%-7.37%.

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Housing Wire

DECEMBER 21, 2022

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. ” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well. Confused by this?

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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.”

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Housing Wire

NOVEMBER 15, 2024

As you can see in the chart below, the credit markets broke in 2005, 2006, 2007 and 2008, and then the job-loss recession of 2008 started, which made things much worse. We had a lot of stressed sellers back then! Look at the difference between this week in 2024 versus the same weeks in 2009-2011.

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Housing Wire

MAY 3, 2024

As the spring selling season kicks off, many educated sellers know that buyers are experiencing spring fever and are tired of sitting on the fence watching home prices increase. As a result, sellers who are winning in this market spent time making sure their homes are in show-ready condition.

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Housing Wire

MAY 2, 2023

And there’s another thing that separates the housing market from other markets — the buyer is often also the seller. In most markets, the seller, or supplier, makes their decision about adding supply to the market independent of the buyer, or source of demand, and their decision to buy. Homer Simpson or Spock?

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Housing Wire

SEPTEMBER 13, 2022

It all started when mortgage rates jumped from 5.25% to 6.25% this year and I saw how home sellers reacted to that move. As you can see, even though purchase application is below 2008 levels, total inventory is far from the peak levels we saw in 2007 of over 4 million listings, currently we’re at 1,310,000.

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Housing Wire

FEBRUARY 16, 2023

However, the glaring difference today versus the recession of 2008, is that in 2007 the builders had to deal with over 4 million active listings as competition for their pricey new homes. The builders will pull back on construction when the supply is 6.5 months and above.

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Housing Wire

APRIL 18, 2024

The one thing that is positive this year which is different than last year is new listing data is rising year over year, nothing spectacular, but it’s a positive story for housing This means we have more sellers that will be buyers in 2024. million, and in 2007, it peaked at 4 million.

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Inventory Housing Market New Listings Buyers 505

Housing Wire

JUNE 7, 2022

According to the report, institutional investors that jumped into the single-family properties market following the housing market crash in 2007 to convert them to rentals also played a role. This proved to be a profitable business model but served to reduce home inventory,” said Sklarz.

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Housing Wire

MAY 30, 2024

When I originated loans, there were a certain number of people that just didn’t need an agent — because the buyers and sellers knew each other in some fashion. Traditionally, your FSBO seller just doesn’t want to work with agents and we show them that they’re missing out on a big segment of the market.

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Real Estate Agent Real Estate Sellers Technology 448

Appraisal Buzz

MARCH 25, 2024

in 2021, hitting the worst level since 2007. “In As that happened, the profit gap between investors and all sellers gradually widened. The average gross profit for a typical home flip in 2023 fell to $66,000, down from $70,100 in 2022, ATTOM says. The average rate of return on a typical home flip was 27.5%. That’s down from 28.1%

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Housing Wire

APRIL 23, 2024

In 2007, right around the time he started Altos Research, he was attending a conference where representatives of both companies were speaking. I believe that our obligation is to communicate with the data for everybody in the cycle, from the biggest players down to every single homebuyer and seller,” Simonsen said.

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Housing Wire

APRIL 30, 2023

We have to remember that a conventional seller is usually also a traditional buyer, so new listings growing toward their seasonal peak throws cold water on the idea that no one will list their homes because they already have a low mortgage rate (the mortgage rate lockdown theory). didn’t go into recession until 2008.

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Housing Wire

JULY 26, 2023

During the housing bubble crash years, active listings grew to more than 4 million in 2007 because most of the inventory in the U.S. NAR active listings data (see chart below): 2007: 4 million active listings 2023: 1.08 comes from the existing home sales market. months to 7.4 year-over-year sales growth for new homes.

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Housing Wire

JULY 15, 2022

Brian Gubernick : No question, the greatest learning opportunity I’ve experienced was the 2007-2008 housing market crash. Disrupters” that believe that wedging their way between the Realtor and his or her database is what is best for buyers and sellers. ” HousingWire: What has been your biggest learning opportunity?

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Housing Wire

APRIL 16, 2023

Mortgage rate volatility was so wild in the second half of 2022 and even this year that some home sellers are gun-shy in listing their homes, since they will be buying another one. In 2007, when sales were down big, total active listings peaked at over 4 million. This is one reason housing inventory has taken so long to bottom out.

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Inventory Housing Market Marketing New Listings 539

Housing Wire

MAY 26, 2022

But we should ask: Why is inventory so much lower now if purchase application data is at 2009 levels — a period in time when inventory was rising noticeably in 2006, 2007, 2008 and 2009? Housing tenure ran at five to seven years from 1985-2007 and now is 11-13 years from 2008 2022. Hey, a person can hope, right!

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Housing Wire

JANUARY 27, 2023

This makes them much more efficient sellers than existing homeowners, who need to find another house once they sell. The builders actually lucked out here because back in 2007, we had over 4 million active listings of existing home, which are usually cheaper than comparable new homes. months of supply.

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Housing Wire

DECEMBER 20, 2023

The marketplace data told us we had no stressed sellers in 2023. For all the people screaming it’s housing 2008: Remember, we had 4 million active listings in 2007, and the annual monthly supply was 10.8 NAR: Total housing inventory at the end of November was 1.13 million units, down 1.7% from October but up 0.9% from one year ago (1.12

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Housing Market Marketing Inventory Realtors 482

Housing Wire

JANUARY 25, 2023

in December 2022, its highest level since 2007 and its fastest rise in more than 40 years. Until mortgage rates drop below 5.5%, we can expect low housing supply, which favors sellers. They increased the Federal Funds Rate from nearly 0% at the start of 2022 to 4.5% They eased below 6.5% most likely by mid-year.

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Housing Wire

MARCH 23, 2021

Due diligence to verify the destination account of an escrow or down payment is also essential, since such transfers can’t be undone, and there is little recourse for seller or buyer once the sum is gone. Banks have no choice but to honor these loans and, in the 2007 financial crisis, we saw the devastating consequences.

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Housing Wire

APRIL 9, 2023

In 2007, when sales were down big, total active listings peaked at over 4 million. Today, even though sales were trending at 2007 levels, we are at 980,000 total active listings per the last existing home sales. We have natural sellers every year in the U.S., but now U.S.

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Housing Wire

JANUARY 16, 2023

This is a problem for the existing home sales market since a traditional seller is usually also a buyer, so the lack of listing growth was a big hit to demand. As you can see below, the waterfall dive in existing home sales has taken us toward the level of 2007-2008 monthly home sales. Same week last year: (Jan.

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Housing Wire

APRIL 20, 2023

million before we saw the massive stress spike in supply from 2005 to 2007. Stable demand, low housing inventory, and no forced sellers are why we created the weekly Tracker, to focus on accurate data and what matters most to housing economics and the U.S. Also, demand has stabilized since Nov. economy.

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Inventory Housing Market Marketing New Listings 531

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. It’s transitioning to a buyers’ market, as 20% of sellers had a price reduction in August 2022, compared with 11% a year ago,” said Rich Weidel, CEO at Princeton Mortgage.

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Housing Wire

MAY 23, 2023

This is different from the 2007 housing market when the builders’ sales were still collapsing and monthly supply spiked with rising cancellation rates. They can do this by cutting prices and buying down rates, as I believe they are efficient sellers.

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Inventory Housing Market Construction Marketing 525

Housing Wire

JANUARY 18, 2023

You need a buyer and seller,” Brown said. “We expect profitability to remain challenging in the near term as the industry capacity slowly adjusts to lower originations,” Bhattacharya said. So, it’s definitely not like selling a loan to a GSE (government-sponsored enterprise).

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Housing Wire

JUNE 27, 2023

They’re effective sellers and don’t want to create a backlog of completed units for sale because that would ruin their business model. In 2007, we had more than 4 million total active listings, which was too much supply for the builders to compete effectively.

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Housing Wire

JULY 19, 2023

From NAR data: 2007 total active listings: 4 million 2023 total active listings: 1.08 So the builders went to work making deals — they’re very efficient sellers. In this environment, homebuilders have an advantage they didn’t have before, as total active listings were too high, giving people more choices from 2007-2019.

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Housing Market Inventory Sellers Marketing 284

Housing Wire

NOVEMBER 18, 2022

A traditional seller is primarily a homebuyer, so not only do we lose the inventory for sale when this happens, but we also lose a buyer. million, with a peak in 2007 a tad over 4 million. Seasonal impacts are the norm with housing, and new listing data is negative 6% year to date. This is not a positive for the housing market.

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Inventory Marketing Housing Market New Listings 493

Housing Wire

MAY 31, 2022

Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm. New Western calls itself “the largest private source of investment properties in the country,” connecting more than 100,000 local investors looking to rehab houses with sellers. Department of Agriculture (USDA).

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Mortgage Construction Lending Real Estate 397

Housing Wire

MAY 4, 2022

The only period when the median sale price was greater than house-buying power was from 2005 through 2007, indicating an overvaluation of housing, or a “housing bubble.” Some buyers will pull back from the market and sellers will adjust their price expectations, which will prompt house prices to adjust.

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Housing Wire

FEBRUARY 16, 2022

He said the outlook for MSR assets “remains very strong, driving [price] multiples to very attractive levels for prospective sellers.”. “As The bank also has been a net seller of MSRS in recent years, posting MSR net sales totaling nearly $2 billion combined for 2020 and 2021 — and $20.9 billion in 2020 to $138.4 billion for 2019.

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Marketing Mortgage Sellers Valuation 397

Miller Samuel

JULY 3, 2020

Leslie Sellers was on the board then and was quite upset that he did not get the nomination but was able to vote for himself using this maneuver. Then 2010 president Leslie Sellers was the reason I disassociated with the Appraisal Institute in 2010 after he withdrew AI from the Appraisal Foundation for no stated reason that made sense.

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Appraisal Sellers Design Valuation 300

Housing Wire

AUGUST 21, 2023

Homelight , a platform for homebuyers and sellers, was No. 403 Homelight 1,444% 2012 Providing a platform that helps deliver better outcomes for homebuyers and sellers. 1,943 EmpowerHome 289% 2006 A partner to real estate teams and agents, offering exclusive programs to ensure sellers get top dollar for their properties.

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Real Estate Real Estate Agent Technology Investors 370

Miller Samuel

JULY 25, 2020

Here's a shoutout to Jim Amorin and Leslie Sellers as you are reading this right now - - here's a refresher on Appraisal Institute history. Like Craig Steinley, the 2007 victim of the unethical petition process I've covered over the previous two weeks, Anne L. Then you can look forward to each issue every Friday at 2pm New York Time.

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