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Economic, Political Uncertainty Fuels Record Low Home Turnover

Appraisal Buzz

The analysis examined data from 2012–2024. Listings Remain at Their Lowest Point in More Than 10 Years In the first eight months of 2024, there were fewer homes listed for sale as well—a level not seen since at least 2012, the first year listing data was available.

HOA 397
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ATTOM: Homeownership Became Less Affordable in Q2

Appraisal Buzz

Major homeownership expenses – including mortgage payments, property taxes and insurance – now consume about 35% of the average wage nationwide, according to ATTOM’s U.S. However, the trends this year are particularly challenging for house hunters, more so than at any point since the housing market boom began in 2012.”

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The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate

Miller Samuel

And it is a marginal rate tax - only the amount above each threshold is taxed. And it is a property tax which means it will be paid annually, not just upon sale like the Mansion tax. Here is how consumer behavior is impacted by the $1 million threshold of the New York State "Mansion" tax.

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3 Things You Should Know About Preliminary Title Reports

Zillow

The title company compiles the report from a search of county records to issue title insurance, and any liens against the property are listed as "exceptions" to a title policy. Taxes Property taxes always show up as the primary "lien" on a title report. Taxes must be settled before any debt holder gets paid.

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Q2 Home Price Hikes Tightens Affordability 

Appraisal Buzz

Therefore, compared to the first quarter of this year and the second quarter of last year, the proportion of average wages required nationwide for normal mortgage payments, property taxes, and insurance increased by around three percentage points. annually and 7.3% quarterly. of the average annual national earnings of $72,358.

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HOME BUYERS FACING ‘TRIPLE-WHAMMY’ EFFECT

Will Springer Realtor

This has resulted in major ownership costs on a typical home consuming 25% of the average national wage of $65,546, still within the 28% standard lenders prefer for homeowner expenditures (mortgage, home insurance and property taxes). >> Seattle metro experienced the greatest inflationary pressure than any major U.S.

Buyers 36