Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. BH: What are you expecting to see in terms of demand for new construction heading into 2023?

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Housing Wire

FEBRUARY 21, 2023

million units for the year – a level similar to the annual pace that occurred in 2008-2011 period. Fundamentally, there continues to be an elevated number of homes under construction or completed that are for sale relative to the recent sales pace. trillion in 2024, a substantial contraction from Fannie Mae’s estimated volume of $2.36

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Inventory Mortgage Housing Market Contracts 397

Appraisal Today

SEPTEMBER 13, 2024

6 Tips for Appraising New Construction Homes Excerpts: Lenders, FHA, and the GSEs (Fannie Mae and Freddie Mac) treat new construction a little differently. When appraising new construction homes, certain factors that don’t always apply to existing dwellings must be considered. Keep a file of local building costs 4.

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Construction Appraisal Contracts Mortgage 79

Appraisal Today

NOVEMBER 1, 2024

The ranch dates to the late 1800s, and its multiple properties include a 4,980-square-foot lakefront home with a waterside cabana, an under-construction 7,713-square-foot architect-designed residence and a number of cabins. The Wall Street Down graphic above is for the 2008 crash. percent from 6.52 percent, with points increasing to 0.69

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Appraisal Training Contracts Mortgage 91

Simonson Real Estate

JANUARY 25, 2022

Apartment New Construction. New construction costs are reportedly up about 10% on average, or $20,000/unit more compared to 1 or 2 years ago. New Construction sales have been in the $250,000-$300,000 range. We will need to see rent growth to continue to justify new construction looking ahead. Let’s dive right in.

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Marketing Construction Real Estate Lending 131

McKissock

JANUARY 31, 2023

” “That cost does not equal value on homes, and picking comparable sales just to hit contract prices is unethical. ” Appraisers are unbiased and must follow guidelines “I wish they understood that we cannot always ethically hit the sale contract price.” .” “How value is derived.”

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Real Estate Agent Real Estate Agents Appraisal 97

Appraisal Today

JULY 21, 2023

NOTE: Please scroll down to read the other topics in this long blog post on changing real estate market, interest rate forecasts, non lender appraisals, foreclosures way down from 2008, Freddie and ANSI, unusual homes, mortgage origination stats, etc. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.36

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Appraisal Today

JANUARY 26, 2024

However, new construction back then really struggled, but today in light of so many sellers sitting in the existing market, builders have been thriving. Just before the crash, we sold it in April 2008 for $1,000,000. Current listings and especially homes in contract show current market conditions. Here’s the formula.

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Appraisal Today

AUGUST 23, 2024

August 23, 2024 What’s in This Newsletter (in Order, Scroll Down) Construction Progress Reports: ADUs & Remodels What Is an Appraisal Review and Who Can Be a Reviewer? It was officially opened in 1895, six years after construction started. The average contract interest rate for 15-year fixed-rate mortgages increased to 6.04

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Appraisal Contracts Investors Property Appraisal 75

Lamacchia Realty

JANUARY 29, 2025

This report breaks down sales, average prices, the number of active listings, and how many listings went under contract for 2024 compared to 2023 and discusses what is predicted to unfold in 2024. The number of homes placed under contract (pending) decreased by 9.8%

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Inventory Insurance Real Estate Buyers 63

Portland Appraisal Blog

AUGUST 3, 2019

There has been relatively little new construction along the lake with ~3.8% Finally, the “CtL” label stands for “contract-to-list” ratio. As of this post date, there are more properties waiting for offers than are under contract. 5 million was spent improving the property and it was listed on 9/08/2008 for nearly $20 million.

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Architecture Contracts Marketing Advertising 78

Birmingham Appraisal

MARCH 21, 2023

Since the housing crash in 2008, there has been limited new construction of homes which has negatively impacted the amount of housing supply. The contract price of many homes was much more than their original list price due to bidding wars from desperate buyers.

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Real Estate Appraisal Marketing Market Value 91

Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. Today is NOT the same as 2008+, with its massive fraudulent loans made to unqualified buyers. Computer modeling did not predict the 2008 crash. 8-minute podcast.

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Appraisal Contracts Real Estate Mortgage 52

Will Springer Realtor

OCTOBER 15, 2024

Meantime, the number of contract listings – known as Pending sales – rose 6.1% New Construction In August, new home construction starts increased by 9.6%, according to KPMG’s latest research. Completed home construction jumped to 1.79M units on a 12-month basis, the highest level since January 2007.

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Appraisal Today

JANUARY 19, 2024

An example of this in real estate appraisal is the purchase and sale contract. When a property goes under contract, that is an excellent sign of what the buyer and seller conclude the property is worth. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.75

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Appraisal Contracts Real Estate Architecture 81

McKissock

DECEMBER 4, 2020

Experience as a contract review appraiser quickly revealed when appraisal research was lacking. Appraisers need to be up to speed more so than in the crash of 2008 when values fell. ” “It appears that green home features are becoming more common in remodeling and new construction assignments.”

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Appraisal Property Appraisal Valuation Luxury Properties 66

Appraisal Today

SEPTEMBER 22, 2023

I sold my big house in March 2008. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.31 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $726,200) increased to 7.32 percent from 7.27

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Appraisal Today

JUNE 21, 2024

It tells us more about the trend one month ago when the property got into contract. This is where we want to give strong respect to other similar units that are getting into contract. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.02

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Appraisal Architecture Contracts Design 78

Appraisal Today

OCTOBER 20, 2023

million 3 bedrooms, 2 baths, 2,281 sq.ft, built in 2008, 21.23 Note: This update does not apply to newly constructed manufactured homes because these items must be present on all new units. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.70

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Appraisal Today

MARCH 15, 2024

In previous downturns, such as during the 2008 recession, there were many foreclosures due to bad lending. To read more, Click Here My comment: The owner of a commercial parcel in my city, very close to the main bridge entry into town, tried to get a shipping container construction approved. This kept appraisers busy. percent from 7.02

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GoForrmz

AUGUST 26, 2022

This can be as simple as implementing digital signature forms for student housing contracts, or as complex as building tech-centric study lounges for students. ” — Wakefield Research for the Wi-Fi Alliance, student survey, 2008.

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Technology Renovations Modernization Contracts 78

Will Springer Realtor

SEPTEMBER 12, 2023

The number of homes going under contract – known in the industry as Pending sales – fell to 2340, an August figure not seen in King since 2010 when there were only 1580 in the heart of the housing crisis. homes this year, below expectations and a figure not seen since 2008 in the heart of the housing crash. in King, down 2.6%

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Finance Inventory Construction Buyers 68

Appraisal Today

MAY 26, 2023

The fraud started in 2008, one year after Roberts became a licensed appraiser, according to court documents and statements. From 2008 to 2019, Roberts fraudulently inflated the value of at least 18 different easements by violating industry norms and making false statements. Let’s take a look at it from basically both sides.

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Easement Contracts Appraisal Inspection 52

Appraisal Today

SEPTEMBER 17, 2022

Architect Adam Dayem designed the unique 2,500-square-foot residence, which was completed in 2017 after several years of construction. My comment: If you appraise new construction or are interested in the trends, subscribe to their email updates on the upper right side of the web page. 2,500 sq.ft., three bedrooms, and two bathrooms.

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Appraisal Construction Contracts Insurance 52

Will Springer Realtor

JANUARY 10, 2023

Homes going under contract (Pending sales) dropped 25% from the previous month and by 30% year-on-year (YoY) – staggering drop-offs. The number of Pendings (1206) has fallen for five consecutive months and is the lowest of any month since December 2008 (1167). The bar is so low on listings and sales data that one might trip over it.

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Appraisal Today

JULY 29, 2022

This is actually about fewer buyers getting into contract. In previous price declines, such as 2008, the percent decline varied significantly. Weakening purchase applications trends in recent months have been consistent with data showing a slowdown in sales for newly constructed homes and existing homes. percent from 5.82

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Appraisal Today

FEBRUARY 17, 2023

Remember around 2008 when some AMCs went out of business owing appraisers lots of money? == Getting too many ad-only emails? In my city, a commercial building constructed of shipping containers was proposed for a long-vacant site at the primary access to the city’s historic shopping street. It was not approved, of course.

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Real Estate Agent Real Estate Appraisal Agents 52

Appraisal Today

JANUARY 4, 2023

Appraisers who went through it will never forget the 2008 housing crash with waves of foreclosures and short sales. He’s a construction guy, and it’s a legitimate castle with lots of features that are medieval in nature, but it’s a newer construction property,” says listing agent Will Frederick, with Keller Williams Realty Services.

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Quicken Loans

AUGUST 3, 2021

However, you deal with enough purchase contracts in home negotiations to know that language matters. in June, the biggest monthly increase since June 2008. New Residential Construction. The number of existing homes under contract for sale was down 1.9% Nothing changed. Let’s get into it! Consumer Price Index (CPI).

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Real Estate Marketing Real Estate Agent Retail 53

Appraisal Today

OCTOBER 21, 2022

The vault is constructed with 4-foot-thick, reinforced concrete walls and is plumbed for a fire suppression system. percent of all applications, which was the highest share since March 2008. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.94

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Appraisal Marketing Contracts Insurance 52

Appraisal Today

SEPTEMBER 30, 2022

in 2007-2008, few appraisers used them. I used Hypothetical Assumptions for new construction, of course. =. An artist and jeweler built the residence so that it blends into the surroundings, and the exterior has held up since its construction in 1989. “So percent, its highest level since mid-2008. Excerpts: The 1.76-acre

Appraisal 52

Appraisal Inspection Easement Contracts 52

Will Springer Realtor

JANUARY 11, 2023

Homes going under contract (Pending sales) dropped 25% from the previous month and 30% year-on-year (YoY) – staggering drop-offs. The number of Pendings (1206) has fallen for five consecutive months and is the lowest of any month since December 2008 (1167).

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Housing Market Architecture Contracts Buyers 36

Will Springer Realtor

MAY 9, 2022

All this tech construction gives new meaning to IT architecture! “A Another 1350 are under construction with delivery in the next two years, including the high-end Avenue Bellevue. You would be hard-pressed to find economists proclaiming that today’s housing environment in the PNW is nearing anything close to the 2008-type bust.

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Architecture Design Buyers Construction 36

Will Springer Realtor

MARCH 14, 2023

By contrast, between June 2008 ($513,077) and February 2012 ($348,790), King County home prices experienced a peak-to-trough change of 32% (graphic below) as the housing market struggled through a financial crisis of epic proportions. This, along with higher building costs, will lead to a construction slowdown this year.

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Marketing Buyers Inventory Sellers 36

Appraisal Today

NOVEMBER 20, 2022

In this category, you find the properties that represent the whimsical side of the design and prove there is no idea too out there when it comes to constructing a building. This is definitely not a repeat of 2008. ==. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.93

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Appraisal Real Estate Agent Real Estate Contracts 52

Houston Properties

JANUARY 12, 2022

While no one ever thinks they’ll be forced to sell in a down market, very few people predicted 9/11 (2001), Great Recession (2008), the collapse of oil prices (2014), or Hurricane Harvey (2017). Case Study #2: Buying “Pretty” New Construction, Overlooking Limited Land & Freeway Proximity. Quality of construction. Floor plan.

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Real Estate Marketing Real Estate Agent Realtors 36

Will Springer Realtor

JULY 11, 2023

The slippage in listings under contract – which is currently at the third-slowest annual pace this century (after 2008 and 2009) – is a barometer for future sales. While the largest chunk of real estate activity – resales – is moving more slowly, new construction is taking over a larger percentage of the action.

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