Housing Wire

JANUARY 6, 2021

We let sellers choose their closing date, so they have the money to complete their purchase and only have to move once.” Redfin isn’t new to town though – it has had agents based in Phoenix help clients buy and sell homes since 2010 with a listing fee as low as 1%.

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Housing Wire

NOVEMBER 22, 2023

The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average. Consumers will reset their expectations, and as rates move lower, there will be both more buyers and more sellers in the market. In a typical year, there are about 5.2

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Housing Wire

JANUARY 29, 2021

Why is this a good thing for sellers, you ask? This means, home prices will rise and sellers will walk away with a good chunk of change. . For example in 2010, the average home price in Denver, Colorado was $246,680. Low-interest rates are great for potential buyers. They make monthly mortgages more affordable!

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Property Taxes Sellers Insurance Mortgage 482

Housing Wire

DECEMBER 21, 2022

.” 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. This explains why total active listing inventory data has been stable over the decades, with the exception of 2006-2011, when those forced distressed credit home sellers couldn’t buy.

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Inventory New Listings Housing Market Sellers 531

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 Market Marketing Inventory Sellers 546

Housing Wire

APRIL 11, 2022

The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built too many homes versus the real demand curve, and monthly supply proves that. Then we had an 82% crash in new home sales, and the weakest new home sales recovery ever after 2010.

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Inventory Housing Market Marketing Modernization 514

Housing Wire

MAY 17, 2024

Dimon further suggested a “candid review” of the thousands of new rules implemented since the passage of the Dodd-Frank Act in 2010. In just the past year, the Department of Justice has called for a full dislocation of real estate agent commissions between sellers and buyers, and new appraisal bias protections have been set up.

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Lending Real Estate Agent Contracts Government 481

Housing Wire

APRIL 14, 2023

In March of 2022, sellers received an average of 5.5 As buyers wanted to find the perfect property, before interest rates rose, they were willing to offer all cash to sellers so their offer was not contingent on financing. Homebuyers placed competitive offers on homes while inventory grew increasingly difficult to find.

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Realtors Buyers Inventory Investors 459

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. While circumstances for buyers remain tight, home sellers have done well as prices continue to rise year-over-year, including a new all-time high for the month of October,” Yun said. “In

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Inventory New Listings Realtors Contracts 435

Housing Wire

APRIL 18, 2024

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. But one positive reason for the low inventory is that homeowners have great financials and aren’t being forced to sell their homes out of stress. NAR: Total existing-home sales receded 4.3%

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Inventory Housing Market New Listings Buyers 505

Housing Wire

MARCH 29, 2022

The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built too many homes versus the real demand curve, and monthly supply proves that. Then we had an 82% crash in new home sales, and the weakest new home sales recovery ever after 2010.

Inventory 435

Inventory Housing Market Marketing Modernization 435

Housing Wire

DECEMBER 29, 2021

Also, post-2010, the loans in American are very vanilla on the debt structure side of the equation. Currently, home-price growth is too hot, which is why I label this the unhealthiest housing market post-2010. Home sellers strive to get the highest price from the best offers and homebuilders have the pricing power over consumers.

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Housing Wire

JANUARY 10, 2022

Sellers saw a market where their homes sold quickly and often above list price as multiple buyers competed to have the winning bid. . Even with this increase, fixed-rate loans will still be cheaper than they were before the pandemic: In the 2010-2019 decade the interest rate averaged 4.1% for 30-year fixed-rate loans.

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Housing Wire

DECEMBER 11, 2023

The firm currently serves buyers and sellers in Essex County, the Merrimack River Valley and Southern New Hampshire. The independent brokerage, which now has over 50 agents was founded in 2010 by Claude Blackman. Co-owners Robert Bentley and Alissa Christie, as well as over 60 of their agents are making the move.

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Inman

FEBRUARY 27, 2023

Knowing these trends and being able to discuss them with buyers and sellers will give Realtors a distinct advantage. Suggesting modern features to sellers to add to their homes before listing existing properties will also give agents additional power.

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Real Estate Agent Agents Real Estate Modernization 148

Housing Wire

OCTOBER 19, 2022

In 2021, the IMB share of FHA loans grew to 90% from 57% in 2010, a consequence of the banks leaving the space in droves since the housing crisis more than a decade ago. In 2021, non-depository institutions accounted for 64% of first-lien, owner-occupied, site-built home-purchase loans. Department of Housing and Urban Development (HUD).

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Housing Wire

MARCH 23, 2022

The fact that the 23% home-price growth level has been smashed in just two years and inventory just collapsed to all-time lows has created the most unhealthy housing market post-2010. Like home sellers, they try to make as much money as possible. The only risk to that 6.2 The two things I had as risk factors are now in play.

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Mortgage Inventory Housing Market Construction 505

Housing Wire

AUGUST 26, 2024

A report from Redfin found that during the four weeks ending July 14, 2024, the typical metro Boston home seller paid their buyer’s broker a 2.15% commission, down from 2.2% Nationwide , the typical American home seller paid a 2.55% commission to their buyer’s broker during the four-week period ending July 14.

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Brokerage Agents Real Estate Business 511

Housing Wire

JUNE 29, 2024

Today, we will examine new listing data more extensively to provide a clear example of a stressed seller market and compare that to where we are today. 2015 81,875 2016 80,293 2017 84,293 2018 98,972 2019 87,278 Now, let me show you what stressed sellers’ data looks like.

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Housing Wire

APRIL 30, 2021

from 2010, per a recent U.S. Sellers know they can ask a lot for their homes because the demand is “the craziest it’s ever been,” said John Diaz, a broker with MyHomeGroup in Arizona. Over the past 10 years, Arizona has enjoyed the ninth-largest population increase in the past 10 years, up 11.8% Census report.

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Housing Market Marketing Real Estate Real Estate Agent 543

Housing Wire

JUNE 30, 2021

million people since 2010. “Sellers who are in the market right now are rushing to get under contract because they know buyers may start rethinking their decisions when fire season worsens,” Anderson said. In all, Utah’s population has increased by 3.3 What does the future of appraisals look like?

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Housing Wire

APRIL 20, 2023

are different post-2010. 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. Remember, inventory channels are different now because credit channels in the U.S. Also, demand has stabilized since Nov.

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Inventory Housing Market Marketing New Listings 531

Housing Wire

OCTOBER 16, 2023

Up from 45% last year and a notable increase from 37% in 2021, the report also mentioned that this share of first-time homebuyers likely hasn’t been this high since 2010, when there was a first-time homebuyer tax credit. This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount.

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Agents Buyers Sellers Inventory 435

Housing Wire

SEPTEMBER 13, 2024

Sellers are happy that they sold their home for more money than they bought it for, and home buyers are happy you found them an asset that will increase in value. Unless they need to move, sellers will almost always be disappointed with the price you can sell their home for. It’s easy to show value when home prices are rising.

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Agents Real Estate Real Estate Agent Sellers 448

Housing Wire

MAY 10, 2022

The homeownership rate for Black Americans has actually declined between 2010 and 2020 and stands at 43.4%, while the homeownership rate for white Americans is 72.1%. Twenty-eight percent of the home buying market last month was all-cash buyers, and for every home that went under contract, sellers saw 4.8

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Housing Market Realtors Buyers Inventory 476

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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Housing Wire

JUNE 21, 2022

Since March of this year, housing demand has been falling more and more, but inventory is still below the 2010, 2013, 2016, and 2019 levels, which is a nightmare. Home sellers with high equity aren’t as sensitive to higher rates because they bring a more significant down payment. The only way this happens is higher rates.

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Housing Market Marketing Inventory Mortgage 540

Housing Wire

AUGUST 30, 2022

One of the issues with existing home inventory has been that, for the most part, a traditional seller is usually a buyer of a home. The 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws, once passed, created an expansion that has produced the highest quality homeowners in our lifetime. New listings are declining now.

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Inventory New Listings Law Housing Market 397

Housing Wire

JANUARY 5, 2023

It got so bad that I labeled the housing market savagely unhealthy in February and deemed it the worst housing market post-2010, as inventory broke to all-time lows and mortgage rates were simply too low to stop the bidding wars. I have been forecasting since 2010 and I’ve only predicted price declines for 2011 and 2012.

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Housing Market Marketing Inventory New Listings 543

Housing Wire

OCTOBER 1, 2022

While it is not the high seen during the First-time Home Buyer Tax Credit in 2010, it is also not the historical norm of 40% seen in the annual Profile of Home Buyers and Sellers report. Unfortunately, the share of first-time buyers remains suppressed at just 29% last month.

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Realtors Housing Market Marketing Buyers 418

Housing Wire

AUGUST 24, 2023

However, persistently high mortgage rates pose a significant affordability challenge to buyers and sellers (not to mention the workers of a trillion dollar-plus industry). We could see monthly sales fall to 2010 or 2011 levels when the market was recovering from the free fall after the housing bubble.”

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Mortgage Property Taxes Investors Buyers 370

Housing Wire

FEBRUARY 9, 2022

So, I agree with the consumer survey and keep saying this is the unhealthiest housing market post-2010. We always talk about the stress of home buying, but we should also include sellers in that discussion. Unless they choose to rent after the sale or sell their investment home, a seller becomes the next natural homebuyer.

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Inventory Buyers Investors Sellers 370

Housing Wire

FEBRUARY 9, 2022

So, I agree with the consumer survey and keep saying this is the unhealthiest housing market post-2010. We always talk about the stress of home buying, but we should also include sellers in that discussion. Unless they choose to rent after the sale or sell their investment home, a seller becomes the next natural homebuyer.

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Inventory Buyers Investors Sellers 370

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

Housing Wire

MAY 26, 2022

That’s not the case now because we have’t had a credit boom post-2010 as we did from 2002 to 2005. I am hoping that if demand gets weaker, home sellers won’t be so stingy and will lower their prices because they have so much equity now. If you connect the lines, you can see where we are on a historical basis.

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Inventory Housing Market Construction Marketing 526

Housing Wire

JULY 25, 2023

Back in 2010, I created a structured offer process that real estate agents can follow, compete and win in a multiple offer scenario. So, if I can deliver faster than the other offer, the seller is going to select our offer over the competitor’s. It all goes back to knowing who the customer is.

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Real Estate Agent Mortgage Real Estate Training 360

Housing Wire

SEPTEMBER 22, 2021

In 2019, the share of gig workers in companies jumped 15% compared to 2010, according to data from the ADP Research Institute. Turn times are a huge pain point, especially when borrowers in unique situations may be pressed to close more quickly in a competitive seller’s market.

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