Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said.

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Sacramento Appraisal Blog

MAY 5, 2021

“Buyers are crazy!!! How can they be paying these prices?” ” That’s what we tend to hear from people who are NOT trying to buy a house right now. It seems like onlookers really don’t understand what it takes to get an offer accepted these days. But for anyone actually in the game, the truth is […].

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Housing Wire

OCTOBER 13, 2021

Earlier this year, however, agents in the metro were seeing houses go into contract within five days of being listed and properties with desirable features – such as single-story living and an updated kitchen and bath – bringing in 20 to 30 offers. I have been getting buyers from Ohio, California and all over.”. It is really wild.”.

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Housing Wire

AUGUST 27, 2024

Dubbed the “Contingency Buster,” the product uses its Purchase Price Guarantee (PPG), a binding backup contract that if a homebuyer’s current home does not sell within 150 days, the fintech will purchase it at an agreed-upon price, the company said in a release Tuesday.

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Contracts Real Estate Agent Real Estate Buyers 467

Housing Wire

JANUARY 17, 2024

A 5% sample of the UAD data was used, including the period between the third quarter of 2018 and the fourth quarter of 2021. of all purchased properties in the period analyzed between 2018 and 2021, despite national house prices growing rapidly. However, time adjustments happened to only 18.5%

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Appraisal Contracts Finance Real Estate 487

Housing Wire

MARCH 3, 2021

26, 2021 according to the latest report from the Mortgage Bankers Association. “Purchase applications increased, with a rise in government applications – likely first-time buyers – pulling down the average loan size for the first time in six weeks.”. Mortgage applications recovered slightly from last week , increasing 0.5%

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Mortgage Contracts Government Housing Market 546

Housing Wire

JANUARY 25, 2023

Buyers who qualify in these metro areas can use the assistance to purchase a house anywhere in the U.S., Its total loan volume amounted to $116 billion in 2021. Guaranteed Rate renewed its contract with translation company TransPerfect on Tuesday to provide homebuyers with Spanish-speaking agents and other resources.

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Housing Wire

JANUARY 13, 2021

Booming refinance activity in the first full week of 2021 caused mortgage applications to surge to their highest level since March 2020, despite most mortgage rates in the survey rising last week,” Kan said. “This is a positive sign of more lower-income and first-time buyers returning to the market,” Kan said.

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Mortgage Contracts Government Buyers 514

Housing Wire

JULY 14, 2021

After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. The prior week ‘s report showed a 1.8% drop in applications to the lowest level since January 2020. from 61.6% the previous week.

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Mortgage Contracts Inventory Investors 521

Housing Wire

JUNE 9, 2021

Compared to last year, fewer people are applying for purchase mortgages, the MBA reported, as home prices continue to rise and prospective buyers avoid astronomical bidding wars. from 0.29 (including the origination fee) for 80% LTV loans. from 0.29 (including the origination fee) for 80% LTV loans.

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Housing Wire

SEPTEMBER 29, 2021

Homebuyer contract signings in the U.S. its highest level since January 2021. This is a strong purchase market and the uptick in inventory is bringing back some buyers who pulled back during peak frenzy.”. And homebuyers with flexibility are keen on more moderately priced regions within the Midwest and South, the report found.

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Contracts Inventory Housing Market Marketing 448

Housing Wire

OCTOBER 27, 2021

Both new and existing-home sales last month were at their strongest sales pace since early 2021, but first-time home buyers are accounting for a declining share of activity.”. annual gain for the year ending in August 2021, remaining the same as the previous month. Mortgage applications increased 0.3% the week prior.

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Mortgage Contracts Buyers Marketing 468

Housing Wire

OCTOBER 18, 2024

Buyers are not required to prepare their current home for sale until after they move into the new property. Calque also offers buyers a guaranteed offer on their current home to reduce risk. “It In other words, if a buyer can sell their home in a specific timeline, the contingency is pulled and the buyer can purchase the property.

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Mortgage Buyers Contracts Finance 448

Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” Lawrence Yun, NAR’s chief economist, said in a statement. The index dropped to 116.7

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Inventory Renovations Contracts Buyers 448

Housing Wire

MARCH 24, 2021

The dip in applications is linked to broader trends in the housing market: more than a year of low inventory is forcing interested buyers to snag whatever they can get their hands on, even if it’s overpriced. That’s coupled with a rise in mortgage rates , too.

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Mortgage Contracts Inventory Government 497

Housing Wire

MARCH 10, 2021

. “Loan sizes moderated for the second straight week, which is potentially a sign that more first-time buyers are entering the market,” Kan said. The 30-year fixed mortgage rate climbed to 3.26% last week, which is the highest since last July and up 40 basis points since the start of 2021.”. from 12.3% the week prior.

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Mortgage Contracts Government Inventory 448

Housing Wire

MAY 3, 2022

The venture capital investment is in addition to $1 billion in separate capital commitments from investors that Point has lined up to help fund what it calls home-equity investment (HEI) contracts. “We Homeowners, in turn, get to cash out a slice of their home equity with no payments due until the contract matures.

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Contracts Investors Investing Market Value 459

Housing Wire

MAY 18, 2022

We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home. Housing in 2020 and 2021 benefited from rates between 2.5% – 3.75% , which gave buyers more purchasing power. percent) above the April 2021 rate of 1,505,000. percent (±8.7

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Mortgage Construction Contracts Housing Market 493

Housing Wire

JUNE 1, 2022

The refinance index dropped 5% from the previous week and was 75% lower than the same period in 2021. “Demand is high at the upper end of the market, and supply and affordability challenges are not as detrimental to these borrowers as they are to first-time buyers.”. million in 2021. of total applications from 32.3%

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Mortgage Contracts Retail Marketing 459

Housing Wire

OCTOBER 18, 2021

The report is based on a monthly survey of NAHB members, in which respondents are asked to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes. NAHB attributes this increase to strong consumer demand for homes.

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Supply Chain Inventory Buyers Housing Market 537

Housing Wire

MARCH 9, 2021

The index plunged from record highs seen in late 2019 after the COVID-19 pandemic resulted in the worst economic contraction since the Great Depression. “Expected home sales growth this year is still likely to be driven by first-time buyers, spurred by millennials reaching peak first-time homebuyer age,” Kan said.

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Mortgage Government Buyers Contracts 497

Housing Wire

JANUARY 27, 2023

compared to December 2021. An index of 100 is equal to the level of contract activity in 2001. “We Interested buyers are out there. “This recent low point in home sales activity is likely over,” Lawrence Yun, NAR’s chief economist, said in a statement. Despite the monthly increase, pending home sales are down 33.8%

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Contracts Realtors Mortgage Buyers 448

Housing Wire

NOVEMBER 13, 2020

Choosing a real estate agent who already has 10 buyers and five sellers probably doesn’t bode well for your home search. Is 2021 a good time to buy a house? Do I have to sign a contract and, if so, how is it structured? You should also find out what the agent’s contract looks like. More for Real Estate Enthusiasts.

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Real Estate Agent Real Estate Agents Contracts 545

The Robert Weiler Company

JANUARY 2, 2021

In real estate, buyers and sellers must be knowledgeable to make informed decisions. Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land.

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Contracts Tenants Legal Sellers 143

Housing Wire

OCTOBER 20, 2021

“Refinance applications declined for the fourth week as rates increased, bringing the refinance index to its lowest level since July 2021,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The 15-year fixed rate increased to 2.54%, which is the highest since July.”.

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Mortgage Contracts Inventory Buyers 488

Housing Wire

NOVEMBER 30, 2020

However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% The faster price growth is leading to affordability challenges for certain segments of buyers, and particularly for first-time homebuyers,” Kan said. pending home sales fell 1.1% compared to a year ago.

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Inventory Realtors Contracts Development 535

Housing Wire

OCTOBER 21, 2021

The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike Fratantoni, MBA SVP and chief economist said in a statement. decrease from August 2021. Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”.

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Inventory Buyers Realtors Contracts 435

Housing Wire

SEPTEMBER 30, 2020

” Kanacki’s market, like many others, remains competitive as buyers continue to experience bidding wars amid historically low housing inventory and an uptick in home prices. “I 20, the National Association of Realtors said that contract signings were up 23% year over year. Over the last four weeks ending on Sept.

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Real Estate Agent Real Estate Agents Realtors 546

Housing Wire

JULY 29, 2021

Though the desire for buyers to purchase a new home remains strong, skyrocketing prices are putting the dream out of reach for some buyers, economists in the housing industry said. An index of 100 is equal to the average level of contract activity during 2001, the first year examined. million in 2022 from 6 million in 2021.

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Marketing Buyers Realtors Real Estate 468

Housing Wire

AUGUST 11, 2021

Homeowners continue to respond to lower rates, with refinance activity climbing to the highest level since February 2021,” said Kan. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $548,250) increased to 3.15% from 3.12%. the week prior. The post Mortgage applications up 2.8%

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Mortgage Contracts Inventory Housing Market 418

Housing Wire

JANUARY 27, 2023

The majority of lenders easily lost half of the volume last year that they originated in 2021, and LOs who have their own databases to tap into are highly sought after. Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022.

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Lending Real Estate Agent Loan Officers Retail 418

Housing Wire

SEPTEMBER 26, 2023

The home sales that are in contract now will close mostly in October. There are now 344,000 single-family homes in contract to close in the next couple months. That’s 14% fewer than last year and almost 30% fewer than in September of 2021. The price of the new contracts this week came in at $370,000.

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Inventory Contracts New Listings Mortgage 505

Housing Wire

SEPTEMBER 28, 2021

annual gain for the year ending in July 2021, up from 18.7% from July 2020 to July 2021, which is up from the 18.5% increase recorded in June 2021. Additionally, there are move-up buyers with larger budgets who are relocating to more affordable areas where they’re financially able to outbid local residents.

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Housing Market Finance Contracts Inventory 501

Housing Wire

SEPTEMBER 25, 2024

Home prices jump The median price of the homes that went into contract this week jumped to $389,900. It’s the second week in a row with an uptick in the price of the homes going into contract. At that time, demand exploded, buyer competition was intense, there were bidding wars and sight-unseen purchases. Since 2020, the U.S.

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Inventory New Listings Sellers Contracts 467

Housing Wire

MAY 11, 2021

The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study. the biggest increase in luxury-home sales in the first quarter of 2021 was Miami, with sales up 101.1% from a year earlier.

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Mortgage Inventory Contracts Buyers 476

Housing Wire

SEPTEMBER 12, 2023

The point of the editorial seemed to be to scaremonger over government programs to help home buyers and student loan borrowers. Supply of homes for sale is very low, and most of the year we’ve had more buyers than sellers. New contracts dipped as affordability is out of reach for so many. That’s blatantly wrong.

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Contracts Inventory Housing Market Buyers 435

Housing Wire

AUGUST 25, 2021

Lower rates led to an increase in refinance applications, with government loan applications jumping 10 percent to the highest level since May 2021.” The average contract interest rate for a 30-year-fixed rate conventional mortgage decreased to 3.03% from 3.06%.

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Mortgage Contracts Government Inventory 418