article thumbnail

End of forbearance programs won’t result in housing crash

Housing Wire

Many other articles were written in tribute to this wonderfully talented group of internet crash callers. The two-month COVID-19-caused recession represented both the sharpest and the shortest economic contraction in U.S. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis. ended in April 2020.

Contracts 544
article thumbnail

Do Appraisal Gap Clauses Impact Appraisals?

Cleveland Appraisal Blog

An appraisal gap clause can be written into a contract. It states that the buyer will still purchase the home at the contract price, even if the appraised value is lower than the contract price by a certain amount. In this hot market, it’s not surprising that this type of clause is being written into some contracts.

Appraisal 397
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Here’s what is happening in local housing markets across the country

Housing Wire

Single-family homebuyers who entered contract, meanwhile, slalomed to 12 total in July compared to 46 a year earlier, per the report. Thirty-three condo contracts were entered in July and 20 were in the $2-$4 million range. “New Your HW+ Membership includes: Unlimited access to HW+ articles and analysis. Become a member today.

article thumbnail

Pending home sales crush hopes of forbearance crash bros

Housing Wire

Contract signings rose in all regions in May compared to the prior month and one year ago. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis. From the National Association of Realtors : “Pending home sales rose 8% in May from the prior month and 13.1% from one year ago. Become a member today.

Realtors 505
article thumbnail

The state of the homebuilding market

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. Our upcoming State of the Residential Construction Industry (SORCI) Report will reflect how builders have braced for impact: Despite the rate of new contracts slowing, margins didn’t decrease. Homebuilding Contract Values.

Marketing 450
article thumbnail

Ubitquity inks deal to build out blockchain platform for Rainier Title

Housing Wire

This article was written for FinLedger, HW Media’s new fintech-focused news brand designed specifically for financial services professionals in banking, insurance and real estate. The company’s smart contract module, a blockchain-based smart escrow contracts product named SmartEscrow , aims to reduce overhead costs and mitigate risks.

article thumbnail

Redwood Trust plants flag in the massive home equity market

Housing Wire

That is done via what is called a home-equity investment contract, or an HEI. This week, Redwood and Point, the latter founded in 2014, announced that they have completed a first-of-its-kind securitization supported by those HEI contracts. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis.

Contracts 355