Birmingham Appraisal

JULY 12, 2023

Pricing a property correctly from the outset is crucial for attracting potential buyers and maximizing the seller’s return on investment. Buyers are often reluctant to pay a premium for features that significantly exceed the norm in their area.

Real Estate Agent 93

Real Estate Agent Law Real Estate Bracketing 93

Lamacchia Realty

OCTOBER 17, 2024

Inventory of homes listed reached a record low by July of 2023 , and mortgage rates increased dramatically, diminishing buyer affordability. Many sellers are holding the line, and buyers continue to face competition. The result is buyers are still faced with some of the highest monthly mortgage payments in history.

Bracketing 74

Bracketing Marketing Sellers Buyers 74

Lamacchia Realty

JUNE 21, 2022

Now, months later, with rates up nearly 100% from the start of the year- January mortgage rates were hovering in the low to mid 3’s and this week reached 6.28%- diminished buyer affordability is causing a big downshift in demand. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.

Housing Market 69

Housing Market Bracketing Marketing Sellers 69

Lamacchia Realty

OCTOBER 25, 2023

Now, a year and a half later, with rates up to 8%, buyer affordability is significantly diminished. Furthermore, potential sellers with covid-era mortgage rates of around 3% aren’t actually listing because it means they’d have to give up that historic rate and trade it in for one that is two to three times higher.

Bracketing 74

Bracketing Marketing Sellers Buyers 74

Lamacchia Realty

MARCH 26, 2024

Elevated condo association and special assessment fees present an additional financial burden for condo owners, deterring potential buyers unless the purchase price is reduced sufficiently to offset the higher ongoing monthly costs. Source Inventory rises when more sellers are listing than buyers are buying.

Bracketing 73

Bracketing HOA Sellers Buyers 73

Lamacchia Realty

AUGUST 3, 2021

Though there were several months through winter and spring that it never seemed possible this year, the market is slowly beginning to be less competitive for buyers. It comes with a negative stigma for sellers to hear that a price adjustment is recommended. If you price your home even $50K over the rest, your home may be overlooked.

Bracketing 69

Bracketing Sellers Buyers Inventory 69

Lamacchia Realty

JANUARY 10, 2022

Inventory initially dropped in March 2020 as a result of sellers pausing on listing their homes and that number has stayed extremely low since. In this ultra-competitive market, buyers need to do all they can to make the strongest offer when the right house becomes available. Consider Waiving Inspection.

Sellers 74

Sellers Inspection Buyers Bracketing 74

Birmingham Appraisal

SEPTEMBER 26, 2023

The market area that the property is located in can definatley support the price but does the price truely reflect the market value of that specific property or does it reflect what a super motivated buyer with available funds is willing to pay? For sellers, this can be appealing, as it may justify a higher asking price.

Real Estate Agent 94

Real Estate Agent Real Estate Clients Agents 94

Birmingham Appraisal

FEBRUARY 20, 2024

Understanding the Role of the Real Estate Appraiser When a home buyer finds a home they would like to purchase and have the need to obtain financing they will work with a lender. While the agent acts on behalf of their seller, it is important for their pricing strategy to also be based on the most up-to-date and accurate market data.

Agents 95

Agents Appraisal Real Estate Agent Bracketing 95

Lamacchia Realty

MARCH 12, 2024

Due to rising rates and home prices that have continued to influence consumer spending, 2023 saw the lowest inventory in recorded history, and in 2024, sellers are still hesitant to enter the market. Some buyers send that message with a heartfelt letter showing how much they love the home. Real estate is a long game.

Inspection 74

Inspection Buyers Sellers Real Estate 74

Lamacchia Realty

APRIL 27, 2022

It is suspected that available inventory will start to climb a bit with the rise in mortgage rates nationally, but South Florida may be less impacted, especially for condos, by the rates with so many cash buyers. As mortgage rates increase, housing affordability and securing financing becomes a very real concern for buyers.

New Listings 68

New Listings Bracketing Inventory Realty 68

Cornerstone

MARCH 3, 2021

Though we’re currently in a seller’s market, it’s still vital to set the right price for your home if you want it to sell profitably — and fast. The goal of pricing your home to sell is to enhance visibility and attract more buyers. It may actually repel potential buyers. Reading Time: 3 minutes. percent in 2021.

Sellers 59

Sellers Bracketing Inventory Buyers 59

Birmingham Appraisal

FEBRUARY 6, 2024

More sales in the lower price bracket may indicate a decline in prices and more in the upper range may indicate an increase. 3) Avoiding Overpricing: If the DOM trend for sold properties in the area is longer than normal, it signals that buyers are taking longer to make a purchase decision and demand may not be strong.

Inventory 85

Inventory Real Estate Sellers Buyers 85

Cornerstone

MAY 21, 2021

As you prepare to buy a home – either as a first-time buyer or as a seller who is buying a new house – it’s critical to know your monthly budget and exactly how much house you can afford. So, you might have to search for houses in a lower price bracket as rates increase if you want to stay within your budget. What’s next?

Real Estate 61

Real Estate Loan Officers Bracketing Sellers 61

Raleigh Realty

MARCH 29, 2021

With everything from securing a loan to dealing with the home inspection, a home buyer has a lot to handle. Getting pre-approved tells the seller that you're serious. And the seller's agent will be happier to do business with a colleague in the field. USDA loans are for those in the low to moderate-income bracket.

Government 148

Government Real Estate Agent Insurance Property Taxes 148

Portland Appraisal Blog

APRIL 14, 2019

You, the seller, the buyer, the lender—heck, even the mailman, are all shocked the deal has fallen apart. We’ll have to cut price or find another buyer. It’s important to note that we’re in this situation in the first place because we didn’t get a cash buyer. What just happened? 3) Bargaining—I can fix this!

Appraisal 78

Appraisal Reconsideration of Value Agents Market Value 78

Lamacchia Realty

FEBRUARY 22, 2023

Since then, as rates and inflation have continued to influence consumer sentiment and spending, inventory has remained low as sellers hesitate to dive into the market. This stalemate has maintained low inventory and competition among buyers for what is available on the market. The tricky part is figuring out how much over-asking price.

Inspection 41

Inspection Buyers Sellers Bracketing 41

Town & Country Residential Appraisals

DECEMBER 16, 2019

A “Comparable Property” is: “Able to be compared to the subject property” A property that the buyer pool would likely also have considered in their search For standard homes, comps are all similar in nearly every area (location, condition, size, lot size, etc) and this makes the analysis far simpler. A recent sale.

Bracketing 36

Bracketing Contracts Real Estate Agent Agents 36

Lamacchia Realty

MAY 26, 2022

However, South Florida may be less impacted, especially for condos, by the rates compared to other regions with so many cash buyers in the market. The rise in mortgage rates will inevitably lead to a moderation of price increases given that less buyers will be in the market (i.e., Buyer Resources. Seller Resources.

New Listings 36

New Listings Bracketing Inventory Realty 36

Clear Capital

DECEMBER 21, 2022

Whether it is for the borrower, the seller, or the lender, a detailed and error-free appraisal report positively influences the purchase decision and credibility of the process. By bracketing the salient features of the house in the appraisal report, appraisers sometimes overlook the proximity and location factors. 1 is location, No.

Appraisal 69

Appraisal Bracketing Clients Market Value 69

Listing Spark

JUNE 7, 2024

These steeper interest rates make it harder to buy homes and place them in the right bracket for easy flips. That bodes well for sellers who purchased their homes in the past, but that’s not an ideal strategy for flippers. Not being able to secure an affordable loan will hold back many flippers who can’t buy homes outright.

Investors 69

Investors Modernization Real Estate Tools 69

Listing Spark

MARCH 18, 2024

Buyers’ agents use this database to search for properties on behalf of their clients, and public-facing websites like Trulia display listing details to prospective homebuyers. Here’s why it matters so much: Many agents and prospective buyers search by price. If you overprice your home, selling it will take longer.

Modernization 36

Modernization Tools Open Houses Real Estate 36

Appraisal Today

APRIL 14, 2023

The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers. Appraisers sought to bracket the subject using three comparable sales. We have learned how to address areas that tend to be sticking points for Fannie Mae and Freddie Mac, such as bracketing elements of comparison.

Appraisal 52

Appraisal Bracketing Valuation Contracts 52

Houston Properties

JANUARY 13, 2021

This highlights the importance of Avoiding the 9 Most Common Mistakes Buyers Make. Avoid 9 Costly Mistakes Sellers Make. Buyers Beware? For certain parts of the economy, usually in the upper-income brackets, they didn’t carry a lot of debt and they couldn’t go out to spend their money. Do You Want To Buy A Home Now?

Housing Market 68

Housing Market Marketing Real Estate Realtors 68

Housing Wire

NOVEMBER 22, 2024

If one would normally pay 20% based upon their tax bracket, they will pay 10% instead. This could be a huge win-win-win (country, seller, buyer). Meanwhile, the seller saves a huge chunk on this highly appreciated asset. Per the IRS, the largest bucket of filers pay a cap gains tax at 15%.

Marketing 468

Marketing Investors Investing Housing Market 468

Housing Wire

DECEMBER 26, 2022

Prior to the recent rise in HELOC volume, Braga said her firm typically saw HELOCs as part of simultaneous closings where buyers would do a first mortgage and a HELOC at the same time. The second largest age bracket was 35-44 at 19%. “Currently, I would say the majority of our volume is some type of HELOC product.”.

Insurance 505

Insurance Bracketing Legal Business 505

Appraisal Today

DECEMBER 13, 2024

As for the Naples property, Ameer adds: You essentially have your own private island here, and the long marketing time may simply be due to aspirational pricing for a unique property, which can take time to find the buyer audience for this home. There is already an increasing demand for refis and home buyers and sellers.

Appraisal 86

Appraisal Contracts Real Estate Mortgage 86