Appraisal Buzz

MARCH 10, 2025

Sorry, Home Depot, we have entered the age of move-in ready. Buyers are willing to pay nearly 4% more than expected for a home that is already remodeled (3.7%)an However, buyers who are already stretching their budget to afford a home in todays market may not be willing or able to spend more on renovations or repairs.

Renovations 414

Renovations Home Value Buyers Sellers 414

Housing Wire

NOVEMBER 7, 2024

Not long ago, homeowners insurance was a minor concern for most homebuyers, real estate agents and mortgage originators. Now, soaring premiums demand more careful review and sticker shock is prompting buyers to walk away from deals, especially in states like Florida and Texas. Their study included data across more than 9,000 ZIP codes.

Insurance 482

Insurance Supply Chain Real Estate Design 482

Appraisal Buzz

AUGUST 2, 2024

Home Equity & Underwater Report. of mortgaged residential properties were considered equity-rich, a term indicating that the combined estimated loan balances secured by those properties were no more than half of their estimated market values. The report reveals that 49.2% The rate dropped to 2.4%

Home Value 418

Home Value Market Value Housing Market Mortgage 418

Appraisal Buzz

FEBRUARY 17, 2025

homeowners with mortgages nationwide have an interest rate higher than or equal to 6%, the highest percentage since 2016. of homeowners who hold mortgages is less than 6%. of homeowners with mortgages had a rate below 6% in Q3 of 2023. The pandemic-era record low of 2.65% for mortgage rates has already been more than doubled.

Mortgage 347

Mortgage Real Estate Agent Home Value Agents 347

Housing Wire

JANUARY 22, 2025

While stubbornly high mortgage rates are keeping a lid on buyer demand and home value growth, and a response from builders has kept multifamily rent growth stable for many months, rents for detached single-family homes continue to accelerate. Meanwhile, apartment rents averaged $1,812 per month in December, up 2.4%

Inventory 448

Inventory Housing Market Home Value Buyers 448

Appraisal Buzz

OCTOBER 30, 2024

A new TransUnion survey has found that many consumers feel their existing mortgage and auto payments are putting a strain on their household finances, as the prospect of falling interest rates has them ready to consider refinancing those loans. They resulted in responses from 1,002 and 1,025 auto and mortgage loan customers, respectively.

Finance 393

Finance Buyers Mortgage Home Value 393

Housing Wire

JANUARY 16, 2025

Cleveland-based Corporate Settlement Solutions (CSS) released an analysis Thursday that highlights a growing gap between appraised home values and sale prices. These are just two of the challenges appraisers face in the current mortgage market, Ashley Jelinek, CEO of CSS, said in a statement.

Appraisal 397

Appraisal Valuation Home Value Housing Market 397

Housing Wire

MARCH 21, 2025

housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. With affordability shrinking, buyers are taking more risks to secure homes, according to HomeLight s 2025 Lender Insights & Predictions survey. ADU is a big requirement now.

Loan Officers 277

Loan Officers Property Taxes Marketing Insurance 277

Appraisal Buzz

JANUARY 8, 2025

What should be the most competitive markets for buyers this year share two characteristics: relative affordability and a dearth of available homes. Construction that keeps pace with an areas growth remains a crucial piece of keeping homes available and accessible. Thats the good news. 13 position this year.

Buyers 370

Buyers Sellers Home Value Construction 370

Housing Wire

DECEMBER 16, 2024

Dramatic mortgage rate movements are destined to play a major role in the coming year, according to Zillow ‘s newest forecast , which also calls for declining mortgage rates to be a catalyst for home-sales growth and home-price appreciation in 2025. Home values are forecast to tick up 2.2%

Housing Market 370

Housing Market Marketing New Listings Home Value 370

Appraisal Buzz

JUNE 12, 2024

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. In May, new property listings exceeded sales, allowing buyer competition and price rise to slow—and more price relief is expected. Home values are up from year-ago levels in 46 of the 50 largest metro areas.

Sellers 397

Sellers Buyers New Listings Home Value 397

Housing Wire

OCTOBER 18, 2024

As mortgage rates fluctuate based on decreasing housing inventory volume, the appraisal market is more volatile than ever in key areas such as urban and rural communities states like California and Texas. Now, suburban dwellers who migrated from urban areas to suburban areas are returning to cities, driving home values up in those areas.

Appraisal Process 448

Appraisal Process Appraisal Real Estate Inspection 448

Appraisal Buzz

SEPTEMBER 16, 2024

According to Zillow’s most recent market report , reduced mortgage rates and more inventory are providing house buyers with a window of opportunity at an uncommon time of year. Buyers have more options to choose from for two reasons. Beyond that, more inventory is becoming available enough to improve buyer negotiating power.

Buyers 396

Buyers Inventory New Listings Home Value 396

Appraisal Buzz

OCTOBER 18, 2024

“The housing market remains structurally underbuilt, and homeowners with locked-in low mortgage rates are keeping existing-home inventory limited. And that “lock-in” rate may continue as Freddie Mac reports that the 30-year fixed-rate mortgage (FRM) averaged 6.44% as of October 17, 2024, up from last week when it averaged 6.32%.

Construction 418

Construction Housing Market Inventory Home Value 418

Appraisal Buzz

NOVEMBER 6, 2024

A new report from the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA) takes a closer look at the shifting demographics for older Americans over 50 and the impact on the nation’s housing supply. home value is currently $359,892, up 2.7% The report, authored by Gary V. year-over-year.

Home Value 459

Home Value Buyers Mortgage Appraisal 459

Housing Wire

APRIL 11, 2022

Mortgage origination activity rose last month despite rapidly rising mortgage rates as prospective buyers sought to lock in their loans. While cash-out refinance activity, which has been somewhat insulated due to strengthening home values, rose a mere 1.6% during the same period. during the same period.

Buyers 370

Buyers Mortgage Home Value Sellers 370

Appraisal Buzz

NOVEMBER 19, 2024

This is due to several factors, including rising housing costs, stagnant wages, and a decline in the availability of small-dollar mortgages, defined as those for homes priced at $150,000 or below. Cities: A Qualitative Analysis ” and “ The Socioeconomic Consequences of the Decline in Small Mortgages.” Authored by Craig J.

Lending 418

Lending Mortgage Investors Development 418

Appraisal Buzz

DECEMBER 30, 2024

Good news: Mortgage rates will likely continue going down in 2025! The Federal Reserve (aka the Fed) lowered the federal funds rate in November, and mortgage rates should continue going down in response to that cut. 1 And lets not forget that mortgage rates have already fallen quite a bit. Will Interest Rates Go Down in 2025?

Housing Market 363

Housing Market Marketing Inventory Real Estate 363

Appraisal Buzz

FEBRUARY 18, 2025

Zillows latest report states the average home value currently stands at $285,683 in the region, with 46.5% Presently, the average home value stands at $271,900, representing a 4.4% Here, 55% of listings sold over the year, with the current house value at $178,600significantly lower than the states average of $406,700.

Sellers 291

Sellers Home Value Buyers Real Estate 291

Appraisal Buzz

JANUARY 22, 2025

While builders response has kept multifamily rent growth steady for several months and stubbornly high mortgage rates are limiting buyer demand and home value increases, detached single-family home rentals are still rising at an accelerating rate. In the meantime, owned home value growth has leveled out at 2.6%

Inventory 370

Inventory Home Value Tenants Property Management 370

Appraisal Buzz

MARCH 20, 2025

The inventory of unsold existing homes climbed 5.1% Home buyers are slowly entering the market, says Lawrence Yun, chief economist for NAR, in a statement. Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand. from the prior month to 1.24 million about a 3.5-month

Home Value 195

Home Value Inventory Buyers Realtors 195

Appraisal Buzz

JANUARY 2, 2025

home values had an annual growth of 3.6%a Lisa Sturtevant, Chief Economist at Bright MLS, also commented on the S&P CoreLogic Case-Shiller Home Price Indexs release and had this to say: The S&P CoreLogic Case-Shiller Home Price Index showed that home prices rose again in October. annual return for October.

Inventory 359

Inventory Buyers Home Value Housing Market 359

Housing Wire

JANUARY 25, 2021

Zillow’s 2021 housing forecast echoes the projections of other industry experts of a rapid acceleration of home value appreciation, with numbers anticipated to be even higher than in 2020. According to Zillow’s Home Value Index, the company expects seasonally adjusted home values to increase by 3.7%

Home Value 545

Home Value Mortgage Buyers Marketing 545

Housing Wire

JULY 25, 2024

As the numbers of seniors carrying mortgage debt in retirement has increased, so too has the potential financial burden of a regular monthly mortgage payment. “Retirement researchers warn that mortgage debt in retirement can be a trap,” the article explained.

Mortgage 476

Mortgage Home Value Finance Buyers 476

Appraisal Buzz

DECEMBER 18, 2024

cities, such as page-view traffic, home value increase, and the speed at which properties sell, in order to identify the most popular markets in 2024. Buyers are seeking out locations that offer the right mix of affordable living and lifestyle amenities. As a result, average home values have increased by 7.3%

Architecture 370

Architecture Home Value New Listings Contracts 370

Housing Wire

NOVEMBER 7, 2023

And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets. “I single-family home was $3,901, up 3% compared to 2021, ATTOM reported.

Property Taxes 541

Property Taxes Home Value Government Valuation 541

Housing Wire

MARCH 25, 2021

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier. However, there are two popular options lenders use with buyers. Yes, we’re talking about a bridge loan.

Buyers 542

Buyers Finance Home Value Real Estate 542

Housing Wire

JULY 28, 2023

High mortgages and stubbornly elevated home prices are worsening the housing affordability crisis. starter” home, up 13% from a year ago, according to a new report from Redfin. In June, the typical starter home sold for a record $243,000, up 2.1% In June, the typical starter home sold for a record $243,000, up 2.1%

Buyers 370

Buyers Housing Market Investors Real Estate 370

Appraisal Buzz

JULY 16, 2024

homebuying season, Zillow’s latest monthly report finds that home listings are beginning to pile up as buyers step back from the peak of home shopping season earlier than usual. “A A growing segment of homes that aren’t competitively priced or well marketed are lingering on the market. elementor-widget-text-editor:not(.elementor-drop-cap-view-default).elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default).elementor-drop-c

Home Value 397

Home Value Inventory Buyers Sellers 397

Housing Wire

MAY 8, 2024

Out of 221 metro markets analyzed, 205 (93%) posted yearly home price gains in Q1 2024, while 30% experienced double-digit price gains during the same period — up from 15% in the fourth quarter of 2023 — according to the National Association of Realtors ’ (NAR) newest quarterly report. of their income to mortgage payments, down from 26.1%

Marketing 526

Marketing Buyers Realtors Home Value 526

Housing Wire

MARCH 20, 2025

These allowed mortgage borrowers to request an ROV if they believe that the appraisal was inaccurate or biased. A December 2022 study by the Brookings Institution found that homes in majority-Black neighborhoods are nearly twice as likely to be appraised below the contract price compared to homes in predominantly white areas.

Appraisal 213

Appraisal Reconsideration of Value Real Estate Legal 213

Housing Wire

JULY 8, 2024

An historic home in Chicago ’s Austin neighborhood designed by architect Frank Lloyd Wright in 1903 is in serious need of repairs and renovations, but an existing reverse mortgage loan is complicating the process of initiating the work. Fannie Mae reportedly assigned the loan to PHH.

Mortgage 427

Mortgage Design Architecture Market Value 427

Housing Wire

AUGUST 1, 2024

Rapidly rising home prices are bad news for prospective buyers, but they’re proving quite beneficial for homeowner equity. of mortgaged homes were “equity-rich,” defined as having a loan balance of less than half of the estimated market value of those homes. in the first quarter of 2024 to 2.4%.

Market Value 482

Market Value Home Value Housing Market Buyers 482

Housing Wire

DECEMBER 6, 2024

Building on existing relationships is the quickest and easiest way to keep your pipeline filled with active buyers and sellers, so you dont have to worry about dry spells. Provide value Offer engaging content that both informs and entertains. Its up to us as agents to stay engaged and stay in contact with our clients.

Real Estate 397

Real Estate Clients Tools Sellers 397

Housing Wire

MAY 9, 2022

Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates , reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. . Compared with the same period last year, the number of rate locks by mortgage volume was down 25.4%. .

Mortgage 370

Mortgage Home Value Buyers Lending 370

Appraisal Buzz

AUGUST 8, 2024

Mortgage rates have started falling, but many potential sellers and buyers are waiting to make a move, meaning we are likely to continue seeing a pattern where prices slowly tick up,” said Zhao. New Jersey leads in value gains New Jersey metros close to New York City saw the largest jumps in property value over the last year.

Valuation 417

Valuation Housing Market Marketing Home Value 417

Appraisal Buzz

JUNE 20, 2024

home, a buyer making the median income needs to put down nearly $127,750, or 35.4%. Just five years ago, when mortgage rates were hovering just above 4% and the typical home was worth nearly 50% less, that home would have been affordable with no money down. home , currently valued at $360,681, up 4.3%

Home Value 397

Home Value Buyers Housing Market Inventory 397