Housing Wire

OCTOBER 12, 2022

“Due to the minimal use of adjustable-rate mortgages (ARMs), teaser rates and exotic mortgage products, relatively few current single-family borrowers are subject to payment shocks from rising interest rates in the way many borrowers were in 2006-2008,” the ESR group said. contraction in real GDP in 2023.

Contracts 448

Contracts Modernization Housing Market Mortgage 448

Housing Wire

DECEMBER 7, 2020

For now, though, the low inventory means housing starts have legs to move higher. Existing home inventory is also at all-time lows. Existing home inventory is also at all-time lows. Unsold inventory sits at an all-time-low 2.5-month Keep this rule of thumb in mind for the future, below 4.3 Existing Home Supply.

Inventory 545

Inventory Construction Government Housing Market 545

Appraisal Buzz

SEPTEMBER 25, 2024

In fact, the last time the FOMC cut rates by half a point was during the 2008 global financial crisis. The Fed’s initial cut is likely to bring more buyers and sellers to market, potentially opening the inventory floodgates and momentum for price competition. What will lenders do?

Mortgage 393

Mortgage Loan Officers Technology Contracts 393

Housing Wire

FEBRUARY 16, 2023

There is one simple reason for this: it’s not 2008. 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. Let me be honest here: we got lucky as a country.

Construction 526

Construction Housing Market Inventory Marketing 526

Housing Wire

SEPTEMBER 19, 2023

Meanwhile, the available inventory of unsold homes is growing. This week, inventory grew faster than it did last year at this time. This week was the biggest week of inventory increase all year, with inventory growing by over 9,000 single-family homes. Last year, inventory climbed dramatically for months.

Housing Market 476

Housing Market Marketing Inventory New Listings 476

Housing Wire

OCTOBER 20, 2022

regions experiencing month over month contractions. Housing inventory also decreased last month, but just slightly, dropping from 1.25 Per the NAR, this drop in inventory was likely due, at least in part, to the seasonal inventory decline that typically occurs during December and January. million from 6.18

Inventory 418

Inventory Contracts Mortgage Realtors 418

Housing Wire

AUGUST 1, 2023

The median price of the homes in contract is $385,000. There are now 376,000 single-family homes in contract. Maybe by Q4, we’ll have more homes in contract than there were at the end of 2022. The count of new contracts this week was just over 68,000 single-family homes. Both lines indicate about 70,000 contracts.

Inventory 370

Inventory Contracts Buyers Mortgage 370

Housing Wire

FEBRUARY 21, 2023

Affordability constraints and tight inventories will continue to limit home sales and the 10-year Treasury has moved up meaningfully since the completion of our interest rate forecast, suggesting mortgage rates will soon be back on the rise,” according to the ESR group. for the next year. trillion in 2023 and $2.03 trillion in 2022.

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Inventory Mortgage Housing Market Contracts 397

Housing Wire

DECEMBER 13, 2022

Fraud risk continues to rise even as the market contracts . Back in 2008 there were 8 million job losses in a single year,” Yun said. Yun also noted the difference in inventory conditions today compared to 2007 and 2008 when there were about 4 million homes on the market.

Realtors 435

Realtors Mortgage Real Estate Housing Market 435

Housing Wire

OCTOBER 1, 2022

The National Association of Realtors Research Group has produced the index since 2008, at a time of turmoil in the real estate market. As reported in the latest NAR Existing-Home Sales , inventory still remains in tight supply, which means homes are still moving at a fast past despite the recent rise in rates and home prices.

Realtors 418

Realtors Housing Market Marketing Buyers 418

Cleveland Appraisal Blog

OCTOBER 14, 2021

Others have expressed concerns that we are headed for a housing crash, like in 2008. Let’s talk about the difference between today’s market and the one during the years leading up to the bursting of the housing bubble in the Great Recession of 2008. THE RISE IN HOME PRICES IN THE YEARS LEADING TO 2008.

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Inventory Market Value Appraisal Contracts 243

Housing Wire

MARCH 17, 2022

In fact, considering the drop in builders’ confidence, now we have to watch for whether some people will cancel their building contracts because rates have jumped so much while they’ve been waiting for their new home to be built. Authorizations of units in buildings with five units or more were at a rate of 597,000 in February.

Construction 488

Construction Housing Market Inventory Buyers 488

Housing Wire

FEBRUARY 27, 2024

SmartZip uses predictive analytics to pinpoint likely sellers from 6 to 18 months in advance, offering a huge advantage in today’s low inventory market. Exclusivity: No Trial period: No Contract requirements: Annual contract required SmartZip is a lead generation, marketing and CRM solution founded in 2008.

Advertising 459

Advertising Real Estate Tools Sellers 459

Housing Wire

AUGUST 24, 2023

Higher mortgage rates probably signal “a further contraction in home sales activity,” she added. “We However, the big difference between the financial crisis of 2008 is that the current higher-rate environment is not sending home prices down, and other factors have kept inventory close to historic lows.

Mortgage 370

Mortgage Property Taxes Investors Buyers 370

Housing Wire

DECEMBER 20, 2022

If you look back, the macroeconomic stuff is tied back to the fact that when COVID initially hit it slowed things down even further and this is after we were already trying to catch up from the significant downturn in 2008, so there is so much more demand than there is supply today.

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Supply Chain Construction Inventory Finance 397

Housing Wire

AUGUST 28, 2020

The products I’ve put into this category primarily help in converting leads, prospects and opportunities into contracts. Specifically, I’m talking about listing agreements and sales contracts. The first is listing tools – the products designed for you to convert potential sellers into listing contracts.

Tools 317

Tools Sellers Real Estate Contracts 317

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. According to MBA’s Quarterly Performance Report (QPR), net production income has averaged 54 basis points since 2008. By comparison, we are forecasting total volume of about $2.3

Lending 397

Lending Mortgage Real Estate Loan Officers 397

Cleveland Appraisal Blog

MARCH 18, 2021

With a shortage of inventory, it was not hard to imagine why this might be the case. Therefore, my opinion of value was in the mid-sixties, which was far below the contract price. What if my appraisal report, mysteriously came in at the same price as the contract price? . The property was now being sold in the mid-nineties.

Appraisal 195

Appraisal Investors Market Value Contracts 195

Lamacchia Realty

JANUARY 25, 2024

It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. A year later, still no crash, which had more to do with the decrease in inventory than the decrease in sales. The number of homes placed under contract (pending), decreased by 17.7% A lot of it had to do with anemic inventory.

Inventory 73

Inventory Sellers Contracts Buyers 73

Appraisal Buzz

JUNE 12, 2024

The company—was established “to provide portfolio managers with reliable and high-quality outsourcing services to manage their REO assets”—launched just before the 2007-2008 financial crisis, a time when REO inventories were abundant as the nation navigated wide-spread foreclosures, bank collapses, and economic strife.

Training 221

Training Business Human Resources Appraisal 221

Lamacchia Realty

JANUARY 25, 2024

This scarcity in inventory exerted upward pressure on prices, although it coincided with a 19% decline in sales. Despite this decline, motivated buyers were out there trying to secure a home while also trying to navigate lower affordability and low inventory. Average prices for closed sales increased by 7.2% Sales Decline by 18.9%

Inventory 55

Inventory Sellers Buyers Contracts 55

Lamacchia Realty

JUNE 10, 2022

For the first time in years inventory is at the same level as the year prior as depicted in the chart above, and single families are higher as depicted in the chart below. The informed consumer should not be misled into thinking that this means we’re going to endure a major housing correction or 2008-like scenario.

Marketing 66

Marketing Sellers Buyers Inventory 66

Lamacchia Realty

JANUARY 30, 2024

The 2023 South Florida real estate market, like national trends, saw a decrease in sales, an increase in prices, and a decrease in the number of homes listed and placed under contract. Unlike what the Northeast experienced, South Florida inventory is up over 2022 and the second half of 2021. South Florida Sales Decline by 17.5%

HOA 52

HOA Inventory Buyers Contracts 52

Listing Spark

JUNE 21, 2022

The real estate industry has been experiencing some shifting trends lately, and when compared to the last crash, there are plenty of factors that make this time different from 2008. Back then, terrible lending regulations, a surplus of inventory, and little to no equity for homeowners was a recipe for disaster. this April, up from 1.1

Housing Market 69

Housing Market Sellers Marketing Inventory 69

Birmingham Appraisal

JULY 7, 2022

If the factors that affect this change are not taken into consideration when pricing a home for sale then the appraisal and the contract price may not line up. 6 Reasons Your Home’s Appraisal Value May Come In Lower Than The Contract Price In Today’s Market. Because of the lack of inventory sales volume has been down.

Appraisal 68

Appraisal Marketing Contracts Buyers 68

Lamacchia Realty

APRIL 15, 2022

Sellers kept listing, albeit, at a much slower pace, and buyers were buying at the highest rate in over 15 years, absorbing inventory faster than ever. Low rates, even lower inventory, maxed out demand, and anemic supply remained the name of the game for well over a year until this past winter, when it truly plunged to incredible lows.

Marketing 68

Marketing Sellers Buyers Inventory 68

Eppraisal

MAY 12, 2021

This is a direct result of the historically low inventory of homes available for sale as buyers are competing for homes. Escalation Clause Advantage An escalation clause is an addendum to a real estate contract that some buyers are using in this sizzling seller's market. month-over-month. by mid-2021 and end up 10.5%

Sellers 67

Sellers Real Estate Buyers Home Value 67

Lamacchia Realty

JULY 22, 2022

Highlighted in this report are the average sale prices for single-family, condominiums, and multi-family homes in Massachusetts along with the number of homes listed for sale, placed under contract, and price adjustments. Pending Home Sales (contracts accepted). The number of homes placed under contract declined 13.7%

Sellers 73

Sellers Buyers Inventory Contracts 73

Lamacchia Realty

JULY 26, 2023

Highlighted in this report are the average sale prices for single-family, condominiums, and multi-family homes in Massachusetts along with the number of homes listed for sale, placed under contract, and price adjustments. To learn more about inventory, click on the chart on the right. Number of Homes Sold Decreased by 24.8%

Sellers 61

Sellers Inventory Buyers Real Estate 61

Will Springer Realtor

MAY 9, 2023

Falling new inventory is constraining transaction volumes while also supporting higher home prices. The inventory may not be there, but the demand sure is. Pending sales – those listings that went under contract in April – rose 3.0% (2435) from March in King County. months of inventory for all home types in King, up from 1.3

New Listings 61

New Listings Inventory Buyers Sellers 61

Appraisal Today

NOVEMBER 1, 2024

The Wall Street Down graphic above is for the 2008 crash. Using the subject as a comp – When and Why, By Timothy Andersen, MAI AMC history helps understand how they changed over the years, most significantly after 2008. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.55

Appraisal 84

Appraisal Training Contracts Mortgage 84

Lamacchia Realty

FEBRUARY 22, 2022

The 2021 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2021 compared to 2020 and illustrates what that means for the current market. It was also a clear rebuke of the theory that the Covid pandemic would cause a similar crash to 2008. to 9,796.

Inventory 54

Inventory Sellers Buyers Real Estate 54

Appraisal Today

AUGUST 23, 2024

This time, the lying is about the value of the collateral (in the run-up to the 2007-2008 financial crisis, it was the borrower stating his or her own income with no third-party verification). Home sales have slowed despite rising inventory levels. The average contract interest rate for 15-year fixed-rate mortgages increased to 6.04

Appraisal 69

Appraisal Contracts Investors Real Estate 69

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.

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Will Springer Realtor

OCTOBER 15, 2024

The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” Lawrence Yun, chief economist for the National Association of Realtors® said in September. months of inventory across all home types in King and 2.3

Housing Market 68

Housing Market Marketing Construction Buyers 68

Appraisal Today

SEPTEMBER 22, 2023

I sold my big house in March 2008. Purchase applications increased for conventional and FHA loans over the week but remained 26 percent lower than the same week a year ago, as homebuyers continue to face higher rates and limited for-sale inventory, which have made purchase conditions more challenging. percent the previous week.

Appraisal 88

Appraisal Training Inspection Real Estate 88

Appraisal Today

AUGUST 5, 2022

Is it headed for a crash like in 2008? Excerpts: Lending was not very prudent prior to the crash of 2008 as suggested by the trend in the median credit score (FICO), a measure for credit worthiness; for newly originated first-time purchase mortgages the median FICO score was 686 in Q1 2006 versus 740 in Q4 2020. Find out why not.

Appraisal 59

Appraisal Valuation Contracts Modernization 59