Appraisal Buzz

NOVEMBER 22, 2024

Those trends include buyers’ pursuit of “forever dream homes” which, according to agents, offer adaptability to grow and change alongside homeowners’ evolving lifestyles. The post Luxury Market Heats Up as Affluent Buyers Seek ‘Forever Homes’ first appeared on The MortgagePoint. Among specialists, 32.8% elections. “A

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Buyers Luxury Properties Marketing Inventory 417

Housing Wire

NOVEMBER 5, 2024

The role of the real estate agent has been under the microscope of late as a result of class-action litigation over agent commissions, but the feedback agents want most about their practices comes from two sources — home buyers and sellers. Help negotiating with buyers registered at just 13%.

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Real Estate Agent Real Estate Sellers Agents 394

Housing Wire

OCTOBER 9, 2024

17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. O’Koniewski said this can sometimes make the buyer’s offer more attractive.

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Buyers Sellers Agents Contracts 433

Housing Wire

OCTOBER 15, 2024

Although the decision is ultimately highly personal and based on a buyer’s budget, needs, and preferences, there are a few things agents need to consider to help them make the best decisions. It can be tough for a buyer to choose when faced with the allure of a brand-new build or the charm and affordability of an older home.

Construction 436

Construction Buyers Agents Marketing 436

Housing Wire

SEPTEMBER 30, 2024

Buyers in August 2024 needed to earn $77,000 per year to afford a median-priced starter home of $250,000. When comparing income to the cost of monthly mortgage payments, the typical buyer now earns 8.9% Starter-home buyers are skewing older than they used to. more than they need. In August 2023, that figure was only 3%.

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Buyers Real Estate Mortgage Brokerage 451

Housing Wire

JANUARY 9, 2025

But survey data released Thursday by Bright MLS found that some standards were top priorities for some buyers. According to the survey, more than half of prospective buyers ranked the condition of the home as the most important factor in their home search. ” Even with compromises, buyers still struggle to gather a down payment.

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Buyers Renovations Housing Market Home Improvement 376

Housing Wire

SEPTEMBER 5, 2024

That’s according to a new survey from Mphasis Digital Risk, which revealed that 42% of prospective buyers said a 5% rate would get them back in the market. We’re getting closer to homebuyers’ comfort zone of low-6%, high-5% rates, and September’s anticipated Fed cuts should help buyer sentiment. from this peak.

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Buyers Marketing Mortgage Real Estate Agent 474

Appraisal Buzz

OCTOBER 29, 2024

The post Freddie Mac Enhances Product Selection With an Emphasis on First-Time Buyers first appeared on The MortgagePoint. The post Freddie Mac Enhances Product Selection With an Emphasis on First-Time Buyers appeared first on Appraisal Buzz. To read the full release, including more information, click here.

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Buyers Appraisal Loan Officers Sellers 395

Appraisal Buzz

NOVEMBER 13, 2024

“Technology has enabled homeowners to live more sustainably and more affordably, which is a growing priority for prospective buyers,” said Amanda Pendleton, a Home Trends Expert at Zillow. The post Homeowners and Buyers Reveal the Most Desired Home Trends for 2025 first appeared on The MortgagePoint.

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Buyers Design Real Estate Agent Real Estate 418

Appraisal Buzz

OCTOBER 16, 2024

The post Buyers and Sellers Embrace Market in Wake of Mortgage Rate Dip first appeared on The MortgagePoint. The post Buyers and Sellers Embrace Market in Wake of Mortgage Rate Dip appeared first on Appraisal Buzz. With a growth rate of 21.4% during the previous five years, these larger units had the highest growth rate.

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Sellers Buyers Marketing Mortgage 418

Housing Wire

JANUARY 20, 2025

But if buyers and sellers were compelled to transcribe their inaction, it would read like a sociopaths diary entry: We could have watched you grow up, but your grandpa and me werent willing to give up our 2.875% rate to move closer to you. Buyers and sellers are ready to step away from the spreadsheet and get on with living their lives.

Sellers 290

Sellers Buyers New Listings Finance 290

Appraisal Buzz

DECEMBER 20, 2024

The post Buyers With Children More Likely to Receive Family Down Payment Assistance first appeared on The MortgagePoint. The post Buyers With Children More Likely to Receive Family Down Payment Assistance appeared first on Appraisal Buzz. To read the full report, including more data, charts, and methodology, click here.

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Buyers Agents Mortgage Clients 392

Appraisal Buzz

DECEMBER 9, 2024

Buyers realized mortgage rates may not drop below 5%, and probably not below 6%, in the near future. The post Post-Election Market Activity Ticks Up as Buyers Begin to Tour Homes first appeared on The MortgagePoint. The post Post-Election Market Activity Ticks Up as Buyers Begin to Tour Homes appeared first on Appraisal Buzz.

Buyers 370

Buyers Marketing New Listings Agents 370

Appraisal Buzz

NOVEMBER 13, 2024

The study found that 48% of buyers said costs were higher than expected, with 39% exceeding their budget and 38% reporting impacts on their savings. Notably, 63% of first-time buyers were surprised by the cost. It was noted that 79% of buyers compromised on at least one priority. Among Gen Z, 49% exceeded their budget—over 1.5

Real Estate 417

Real Estate Sellers Buyers Renovations 417

Housing Wire

OCTOBER 28, 2024

It was based on the premise that buyer brokers were using commission rates posted on the [ multiple listing service ] to steer buyers to properties that provided higher levels of compensation. … The settlement makes sense — but only on paper. Monestier’s objection also looks at the required buyer representation agreements.

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Business Sellers Realtors Buyers 446

Housing Wire

JULY 17, 2024

It means sellers’ agents and brokers should prepare to deal directly with the buyer of an REO property whenever possible going forward. Increasingly in post-foreclosure transactions, this is already being initiated by the buyer. Accordingly, it’s time for sellers’ agents and brokers to prepare to deal directly with buyers.

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Real Estate Agents Training Buyers 493

Housing Wire

OCTOBER 29, 2024

Stubbornly high interest rates, low levels of inventory and elevated home prices are putting a strain on the often-limited budgets of first-time buyers. Despite the initial concerns, many industry professionals say first-time buyers are currently faring no worse than other buyers — for now, at least.

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Marketing Real Estate Sellers Buyers 408

Housing Wire

SEPTEMBER 12, 2024

That’s according to a Zillow report released Thursday in which the Seattle -based real estate company said that “lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year.“ Buyers have more options to choose from for two reasons. Zillow noted that the U.S. 29 to Oct.

Housing Market 478

Housing Market Marketing Inventory Buyers 478

Housing Wire

AUGUST 19, 2024

According to real estate professionals, the biggest adjustments they had to make this week was to get buyers to sign buyer representation agreements and to explain to sellers that while they don’t have to offer buyer broker compensation , they will most likely see most prospective buyers ask for some help in paying their agent.

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Agents Sellers Realty Buyers 467

Housing Wire

JANUARY 9, 2025

On the balance, there are still more buyers with their eye on a purchase than there are houses on the market. I would say there are more buyers out there now than there were pre-pandemic when the rates were lower. Data from Altos Research supports Feinsteins observations. as of Jan. 6, compared to a score of 44.64 a year ago.

Housing Market 403

Housing Market Inventory Marketing Sellers 403

Housing Wire

NOVEMBER 20, 2024

home seller paid a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January. At the end of October, the narrative changed; Redfin reported that commissions paid to real estate agents representing buyers remained essentially unchanged.

Real Estate Agent 472

Real Estate Agent Real Estate Agents Sellers 472

Housing Wire

SEPTEMBER 26, 2024

The majority of agents (60%) also reported that they do not like that they can no longer advertise offers of buyer agent compensation on the MLS , while 20% like the change. Similarly, 59% of agents don’t like that commission costs may be shifted directly to buyers, compared to 19% of agents who view this change favorably.

Real Estate Agent 451

Real Estate Agent Real Estate Agents Buyers 451

Housing Wire

OCTOBER 15, 2024

17 deadline, much of the industry concern was over how home buyers and sellers would react. Would sellers suddenly stop offering buyer’s agent compensation? Would buyers refuse to sign buyer agency agreements and ultimately decide to go unrepresented? Approaching the Aug.

Real Estate 446

Real Estate Brokerage Sellers Agents 446

Housing Wire

OCTOBER 24, 2024

That means the buyer will need to pay in cash or use non-traditional financing such as a hard money loan. But some segments of pre-foreclosure buyers are purchasing at much bigger discounts. Many of the distressed properties Sandoval encounters are not in good enough condition to qualify for traditional financing.

Retail 434

Retail Buyers Renovations Finance 434

Housing Wire

DECEMBER 30, 2024

There are a few markets in the South where home prices have inched down recently and every bit helps buyers but those prices have not adjusted much, and theres no sign of any major correction in the works. Itll keep falling this spring with fresh inventory and new buyers for the next few months. Learn more here.

Housing Market 543

Housing Market Marketing New Listings Inventory 543

Appraisal Buzz

DECEMBER 30, 2024

Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years, said First American Deputy Chief Economist Odeta Kushi. Buyers are no longer waiting for or expecting mortgage rates to fall substantially.

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Contracts Inventory Buyers Sellers 435

Housing Wire

OCTOBER 25, 2024

The for-sale market, on the other hand, is offering opportunities for buyers heading into the fall, with more than 1 in 4 sellers cutting prices. With inventory up 22% compared to a year ago, buyers are gaining bargaining power. The typical rent is 3.4% Zillow Home Loans’s Buyability tool is a great way to kick off that conversation.

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Inventory Buyers Mortgage Tools 467

Appraisal Buzz

NOVEMBER 4, 2024

housing market is split into two groups: first-time buyers struggling to enter the market and current homeowners buying with cash,” said Jessica Lautz, NAR Deputy Chief Economist and VP of Research. First-time buyers decreased to 24% of the market share (32% last year). For first-time buyers, this number jumps to 64%.

Real Estate Agent 370

Real Estate Agent Buyers Sellers Real Estate 370

Housing Wire

AUGUST 19, 2024

According to public record tax assessor data, all four are now also owner-occupied “I’m trying to establish our community again,” Morgan said, noting the extensive renovations he does before reselling the homes to retail buyers. For most Auction.com buyers, their motivations for investing in real estate are twofold.

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Renovations Development Buyers Investors 474

Housing Wire

OCTOBER 1, 2024

While it’s unclear exactly how home buyers and sellers are reacting to the situation, a startup tech company called Rayse is “pushing back on the settlement” with a new communication platform that allows prospective buyers to track what their agents are doing in real time.

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Agents Real Estate Agent Real Estate Brokerage 430

Appraisal Buzz

NOVEMBER 26, 2024

Zillow anticipates a more active housing market with more buyers obtaining the upper hand in 2025. More inventory should shake loose in 2025, giving buyers a bit more room to breathe.” There is no doubt that buyers will experience several highs and lows during the course of the year. Zillow predicts 4.3

Housing Market 396

Housing Market Tenants Marketing Mortgage 396

Appraisal Buzz

DECEMBER 23, 2024

Binghamton, New York: Combining stability with steady price growth, Binghamton also maintains affordability, making it appealing to buyers focused on value and longevity. Rockford, Illinois: Known for a balance of affordability and growth, Rockford has shown recent price increases, coupled with a favorable price-to-income ratio.

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Housing Market Investors Buyers Home Value 397

Appraisal Buzz

DECEMBER 16, 2024

When I explain to buyers that they can get more bang for their buck and lower flood risk a little further inland, they often tell me, Rafael, we came to Florida for the waterfront views. This gives buyers leverage when theyre negotiating with other insurers. That compares 59.2% That compares 59.2% of homes face high flood risk and 35.7%

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HOA Insurance Buyers Property Taxes 392

Housing Wire

AUGUST 26, 2024

The program, dubbed “Welcome Home RateBreak,” is available to buyers purchasing a single-family home and earning 80% or less of their area median income (AMI). This buyer would save more than $5,800 from the two-year buydown, according to Rocket. Rocket estimates the size of this segment at more than 90 million people.

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Buyers Insurance Mortgage Business 498

Appraisal Buzz

OCTOBER 25, 2024

housing market is showing signs of relief for buyers, as home prices drop in more than half of the largest metropolitan areas. Key Markets Experiencing Price Declines Several major cities across the country are experiencing a drop in median home prices, a welcome change for buyers facing years of affordability challenges.

Buyers 368

Buyers Housing Market Construction Marketing 368

Appraisal Buzz

NOVEMBER 25, 2024

More inventory should shake loose in 2025, giving buyers a bit more room to breathe. But since then, they have climbed back to nearly 7%, changing the affordability picture for home buyers. Mortgage rates fell in September, briefly bringing the share of affordable listings to a 19-month high.

Housing Market 365

Housing Market Marketing Buyers Construction 365

Housing Wire

NOVEMBER 21, 2024

Curb appeal sets the tone for potential buyers before they even step inside, shaping how welcoming and well-maintained a property feels. With just a few thoughtful updates, you can make your listing stand out and leave a lasting impression on buyers and even turn nearby neighbors into clients.

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Decorating Buyers Modernization Real Estate 318