Housing Wire

SEPTEMBER 7, 2022

The wholesale arm of Rocket Mortgage on Tuesday raised anticipated agency conforming loan limits to $715,000, a sign that the nation’s largest mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 10% in 2023. 6, the lender said Tuesday. “We’re

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Home Value Mortgage Government Lending 488

Housing Wire

JANUARY 13, 2022

The Supreme Court weighed in on a class action lawsuit against Quicken Loans , now Rocket Mortgage , regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009.

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Appraisal Law Valuation Home Value 448

Housing Wire

MAY 4, 2022

The combination of these factors has some feeling 2008 déjà vu. A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing.

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Housing Market Finance Marketing Mortgage 397

Housing Wire

NOVEMBER 14, 2022

Rate lock volume has dropped by more than 60% over the past 12 months as it struggles under the weight of high mortgage rates , which closed out October at 7.06%. Prioritizing home equity solutions in a rising rate environment. Amid the surging rates, the refinance market is nearing the bottom. Presented by: ServiceLink.

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Marketing Lending Home Value Mortgage 370

Housing Wire

MARCH 23, 2022

Year-over-year, new home sales were down 6.2% Though February’s new sales were below recent highs, builders are still selling homes at a higher seasonally adjusted rate than they did at any point between 2008 and 2019,” Zillow economist data analyst Dan Handy said in a statement. in February. after a 10.4% drop in January.

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Supply Chain Housing Market Buyers Construction 397

Housing Wire

FEBRUARY 1, 2021

Auctions efficiently ensure the highest and best offer — good for the distressed homeowner, surrounding neighborhood and the mortgage servicer. Pre-foreclosure sales as a foreclosure alternative also benefit neighborhoods by limiting the volume of vacant properties, which drag down surrounding home values. Falling Short.

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Buyers Mortgage Marketing Home Value 435

Inman

MAY 31, 2023

An investor who correctly predicted the 2008 financial crisis sees another overlooked threat on the […] In these times, double down — on your skills, on your knowledge, on you. Join us Aug. 8-10 at Inman Connect Las Vegas to lean into the shift and learn from the best. Get your ticket now for the best price.

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Home Value Investors Housing Market Marketing 146

Housing Wire

JUNE 10, 2022

Of course, the answer is about why this is not the same market — in any way — to post 2008. There are many reasons this isn’t like 2008: people are staying longer in their homes, aging in place and have more equity in their homes than 2008. HousingWire: What is the weirdest job you’ve ever had?

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Sellers Housing Market Inventory Buyers 397

Housing Wire

SEPTEMBER 13, 2022

The increasing popularity of home-equity loans also is expected to help revitalize interest in aggregating HELOCS for residential mortgage-backed securities (RMBS) offerings, which have been nearly nonexistent since the 2008 global financial crisis, according to a recent HELOC-focused report by bond-rating firm DBRS Morningstar. “A

Finance 370

Finance Lending Mortgage Home Value 370

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. million homes bought and sold in the U.S. According to data from Statista , there were roughly 5.95 last year.

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Loan Officers Real Estate Agent Real Estate Finance 418

Housing Wire

MARCH 27, 2023

At a time of high mortgage rates and inflation, the federal government — along with government-sponsored enterprises — is understandably under pressure to lower costs and make homeownership more accessible. Shortcuts to well-established processes do not end well — as the 2008 financial crisis demonstrated.

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Insurance Government Home Value Real Estate 321

Cleveland Appraisal Blog

OCTOBER 14, 2021

Others have expressed concerns that we are headed for a housing crash, like in 2008. Just as different types of leaven can be used to make bread rise, and even change the flavor of the bread, increasing home prices can result from different situations. THE RISE IN HOME PRICES IN THE YEARS LEADING TO 2008.

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Inventory Market Value Appraisal Contracts 243

Housing Wire

JULY 1, 2024

But they cap how much an investor-lender can benefit from increasing home value. Their focus is to rehabilitate and repopulate Baltimore neighborhoods gutted by centuries of systemic racism and then destroyed and abandoned by the 2008 financial crisis. Today’s income and property distributions echo in that pit.

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Real Estate Government Inventory Housing Market 532

Housing Wire

AUGUST 8, 2023

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation , a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 billion volume of the previous year, per the mortgage data platform Modex. And he hasn’t done so voluntarily. billion in 2022, down 41.3%

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Insurance Mortgage Lending Clients 370

Housing Wire

JULY 25, 2023

However, data from CoreLogic shows that the number of homes built in the Very High Fire Hazard Severity Zone (FHSZ) has declined from 5.5% over the past 15 years, but building in Moderate FHSZ has nearly doubled since 2008, and while the fire risk in this zone is less severe, it is still present.

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Insurance Housing Market Marketing Agents 370

Eppraisal

AUGUST 13, 2024

Being "underwater" on your mortgage means that you owe more on your home than it's currently worth. This situation can arise due to a variety of factors, including a decline in home values, an economic downturn, or even personal financial challenges. If the result is negative, you’re underwater.

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Mortgage Real Estate Home Value Market Value 72

Cleveland Appraisal Blog

APRIL 29, 2021

Buying a property is not just about creating a home, it is making a long-term investment. Generally speaking, real estate is one of the most secure investments you can make, and bar any situations like the crash in 2008, you are pretty much guaranteed a constant increase in value and desirability. So, stayed tuned.

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Appraisal Investing Buyers Renovations 249

DW Slater Company

FEBRUARY 23, 2023

The past six months have been full of very drastic changes as the rapid mortgage rate increases causing many markets to begin to decline. Some may have a bit of PTSD from the 2008 Housing crash but just know that this is a different market with different factors impacting it. So what’s happening in the housing markets here?

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Inventory Marketing Supply Chain Appraisal 133

Lamacchia Realty

NOVEMBER 29, 2023

High-cost areas, where 115% of the median home value is higher than the loan limit, will rise to $1,149,825- last year was the first time ever that the limit exceeded a million dollars. The law mandated that the baseline could only rise after home prices returned to pre-recession levels. Additional Resources What Is a Buydown?

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Realty Law Home Value Government 71

Empire Appraisal Group

MARCH 16, 2022

When underwriting a mortgage, lenders typically require an in-person appraisal – an estimate of the home’s value – but many now also use algorithmic computer models. Overvaluing homes can lead to higher rates of foreclosure. An algorithm is a complicated math formula loaded into a computer.

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Appraisal Valuation Lending Home Value 78

Empire Appraisal Group

OCTOBER 28, 2021

Exuberant buying – with multiple offers and bidding wars – has become common across the country, reminiscent of the fevered market before the 2008 housing crash. Home prices nationwide increased year-over-year by 18% in July 2021, the largest annual growth that CoreLogic Home Price Index has measured in its 45-year history.

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Inventory Housing Market Construction Real Estate 78

Eppraisal

OCTOBER 5, 2022

Premium Prices The housing market continues to display high, premium home prices. Home values are not going down anytime soon however inventory of homes available for sale is increasing. Even so, there are still many home buyers out there. Rising Rates It is no secret that mortgage interest rates are rising.

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Buyers Real Estate Agent Marketing Inspection 68

Lamacchia Realty

NOVEMBER 27, 2024

High-cost areas, where 115% of the median home value is higher than the loan limit, will rise to $1,209,750 – being the third year the limit exceeded a million dollars. The 2008 Housing and Economic Recovery Act mandates that the baseline can only rise after home prices return to pre-recession levels.

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Realty Home Value Government Inventory 50

Eppraisal

SEPTEMBER 22, 2021

There is a lot of buzz among the general public as to if and when there will be a real estate market crash like the one in 2008. According to an article on Bankrate.com, written by Jeff Ostrowski, "Mortgage rates plumbed to new depths in January 2021, setting all-time lows south of 3 percent." More people have equity in their homes.

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Real Estate Marketing Inventory Home Value 45

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. Congratulations, frustrated home buyers ! Home sellers, the market has changed. Bottomline.

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Marketing Sellers Buyers Inventory 66

Eppraisal

APRIL 27, 2021

Qualify to Purchase a Home If you are thinking of purchasing a home, you must first be able to qualify for a mortgage. To qualify for a mortgage, you need steady employment and income. Interest rates are still historically low, so it's a great time to borrow money to purchase your first home. You need good credit.

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Property Taxes Home Value Landlords Insurance 50

Zillow

JUNE 20, 2018

Getting a mortgage can be a breeze or a slog, depending on what you know about the process. To get organized and set your expectations properly, let’s debunk some common mortgage myths. Rates are tied to daily trading of mortgage bonds, so most lenders' rates change throughout each day. Lenders use your best credit scores.

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Mortgage Real Estate Agent Real Estate Insurance 36

Birmingham Appraisal

JANUARY 11, 2023

The higher rates resulted in larger mortgage payments which took many buyers out of the market. The dynamics of supply and demand dictate that as demand decreases (because buyers are leaving the market due to higher mortgage payments) prices will drop. The volume reminds me of what we saw in 2007-2008 during the recession.

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Housing Market Marketing Inventory Sellers 86

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. Impact on Interest Rates Interest rates can also impact property values. This can lead to less competition which contributes to lower home values.

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Real Estate Appraisal Marketing Market Value 89

Eppraisal

OCTOBER 1, 2024

In the United States, multi-generational living has been on the rise, especially following the Great Recession of 2008, when many young adults returned to their family homes due to financial hardship. housing market is a significant shortage of affordable homes. The Rise of Multi-Generational Living in the U.S.

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Logistics Design Housing Market Renovations 62

Eppraisal

AUGUST 9, 2022

This was a similar story back in 2008. Back then the economy dove down into a deep recession and home values plummeted. Here are a couple key differences from the last Recession: Home Prices Still Increasing The past few years homeowners have been enjoying property value increases. Sound familiar? as of August 4th.

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Real Estate Inventory Home Value Buyers 36

Cornerstone

MARCH 12, 2021

A prospective home seller is looking at a great opportunity to sell rapidly and at a lucrative price. Low rates may lower a monthly mortgage payment, making now an ideal — and affordable — time to trade up or downsize. If there’s a surge of foreclosures, will home values start to decline?

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Clients Sellers Loan Officers Real Estate 65

Eppraisal

AUGUST 16, 2022

Before, during and after the COVID-19 pandemic, home prices steadily climbed. These increases, combined with a growing but still modest inventory of houses for sale, make for hard times for banks and other mortgage lenders. Mortgage rates are doing likewise. Because of these occurrences, lenders may be down.but not out.

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Home Value Advertising Finance Government 36

Birmingham Appraisal

JULY 7, 2022

These factors, as well as others, have an impact on home values because it affects buyer and seller behavior. The best way to price a home for sale is to use the most current sales and this includes some pending sales. If you keep up with the news there’s no doubt that you’ve heard we are in a recession.

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Appraisal Marketing Contracts Buyers 68

Eppraisal

JANUARY 17, 2023

Real Estate Investors by Default Some homeowners became investors in the years following the 2008 crash because they were underwater when it came to the value of their homes. Home values have increased by double digit percentages year-over-year over the past couple years. This happened practically by default.

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Investing Real Estate Landlords Investors 36

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. ==. It looks like the change is starting because of increasing mortgage interest rates. Computer modeling did not predict the 2008 crash.

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Appraisal Contracts Real Estate Mortgage 52

Appraisal Today

AUGUST 4, 2023

In a truly Orwellian move, mortgage giant Freddie Mac recently announced its intent to censor an arbitrary collection of words such as “desirable,” “safe,” “well-kept,” “student” and “crime” when they appear, in any context, in the hundreds of thousands of appraisal reports it relies on in mortgage underwriting. They really help.

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Appraisal Business Contracts Real Estate 73