Appraisal Buzz

MARCH 4, 2025

The findings suggest that rising costs of property taxes, insurance, utilities, and home maintenancerather than just mortgage paymentsare driving increased financial pressure, even for those who secured historically low mortgage rates in recent years.

Property Taxes 360

Property Taxes Bracketing Insurance Mortgage 360

Housing Wire

JULY 23, 2024

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin ’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% of buyers canceled in June. of homes that went under contract.

Buyers 459

Buyers HOA Property Taxes Inspection 459

Housing Wire

MARCH 22, 2023

HousingWire recently spoke to Tom Kriby, vice president of client development and partnerships at Westwood Insurance Agency, about how working with an insurance agency can simplify the closing process for their customers, even in times of interest rate uncertainty. While some elements of PITI are set, others offer buyers opportunity.

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Insurance Property Taxes Buyers Clients 435

Housing Wire

JANUARY 8, 2021

These expenses vary state-by-state, due to the differences in property and transfer tax, as well as rates charged by different attorneys and lenders. On average, closing costs equal about 1 to 4% of your home’s value, which isn’t something most home buyers are usually aware of. Property Tax. Title Insurance.

Property Taxes 531

Property Taxes Insurance Real Estate Mortgage 531

Housing Wire

OCTOBER 21, 2024

The lingering effects of inflation, bond market volatility, and lender caution have tempered any significant drop in borrowing costs, leaving many prospective buyers still priced out of the market. In Florida, rising insurance premiums tied to natural disasters like hurricanes can make homeownership more of a liability than an asset.

Real Estate 493

Real Estate Marketing Insurance Property Taxes 493

Housing Wire

SEPTEMBER 11, 2024

Other holding costs for real estate include taxes and insurance. According to S&P Global, insurance premiums increased nationally by 34% between 2017 and 2023, with even more increases hitting homeowners in 2024. In particular, insurance can be a significant portion of monthly payments.

Mortgage 468

Mortgage Insurance Inventory Buyers 468

Housing Wire

NOVEMBER 22, 2024

What’s more, operating costs for apartment and SFR (single-family rental) operators are up significantly since 2019 due to higher property taxes, insurance, and payroll costs. The sheer amount of additional supply on the market has really given buyers more of a leg up,” she said. “I

Marketing 370

Marketing Housing Market Property Taxes Construction 370

Housing Wire

DECEMBER 14, 2023

Asian borrowers pay $13 less than non-Hispanic white borrowers (the control group); low-income borrowers pay $14 more; and first-time home buyers pay $11 less than repeat buyers. Homeowner’s insurance, the servicer, and even the GSE (the actual holder of the default risk on the mortgage), represent small overall costs by comparison.

Insurance 459

Insurance Property Taxes Buyers Investors 459

Appraisal Buzz

MARCH 31, 2025

The report determines affordability for average wage earners by calculating the amount of income needed to meet major monthly home ownership expenses including mortgage payments, property taxes and insurance on a median-priced single-family home, assuming a 20% down payment and a 28% maximum front-end debt-to-income ratio.

Property Taxes 195

Property Taxes Insurance Lending Mortgage 195

Appraisal Buzz

JULY 23, 2024

Buyers are getting more and more selective,” said Julie Zubiate, a Redfin Premier real estate agent in the San Francisco Bay Area. Buyers often back out during the inspection period because they find something they don’t like, but affordability is really the underlying issue. of homes that went under contract. June 2024 U.S.

Buyers 396

Buyers Contracts HOA Property Taxes 396

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. Your newsletter content should be a mix market updates, buyer and seller advice, community news and events, and storytelling.

Real Estate 397

Real Estate Clients Tools Sellers 397

Appraisal Buzz

APRIL 7, 2025

Furthermore, according to Bankrates data, purchasers in 30 states and the District of Columbia require a household income of six figures in order to afford the average property in their location. Five years ago, the average home required a six-figure salary for buyers in just six states and the District of Columbia. Washington, D.C.

Property Taxes 221

Property Taxes Buyers Housing Market Insurance 221

Housing Wire

MAY 28, 2024

” Incenter has businesses focused on capital markets, loan diligence, student lending, insurance, property tax, accounting and marketing. JB Long, who joined parent Incenter Lender Services in July 2023 as chief revenue officer, became the president.

Property Taxes 447

Property Taxes Lending Insurance Investors 447

Housing Wire

JANUARY 29, 2021

Last year, buyer demand increased due to record low mortgage rates. Low-interest rates are great for potential buyers. Keep in mind though, a great deal of money goes into buying a new house (regardless of the property type). Besides a down payment, you’ll have to pay closing costs, property taxes, insurance, etc.

Property Taxes 482

Property Taxes Sellers Insurance Mortgage 482

Housing Wire

JUNE 17, 2024

The analysis of historic home prices, income levels and mortgage rates found that baby boomers — Americans between the ages of 60 and 78 this year — “arguably faced the toughest housing market ever for first-time buyers.“ It assumed a 10% down payment and did not factor in property taxes or homeowners insurance.

Housing Market 497

Housing Market Property Taxes Inventory Buyers 497

Housing Wire

NOVEMBER 29, 2023

Nashville has relatively low property taxes, insurance costs and utility prices, along with no state income tax, all of which definitely help if you’re looking for a lower cost of living.” While a lot of Sanchez’s clients were from California , she also reported working with people from Chicago, New York and Florida.

Property Taxes 448

Property Taxes Real Estate Agent Insurance Housing Market 448

Appraisal Buzz

JULY 1, 2024

High interest rates and housing prices have priced millions of potential buyers out of the housing market, while the number of renters with cost burdens is at an all-time high, according to a new study released by Harvard University’s Joint Center for Housing Studies. nationwide average increase in owners’ insurance premiums.

Construction 415

Construction Inventory Property Taxes Insurance 415

Housing Wire

JULY 24, 2024

Prospective buyers from out of state often come to Indiana for its growing job market, low taxes and relatively affordable housing. Indianapolis-area Realtor Annie Caruso, a founding member of Circle Real Estate, had a buyer coming from the Chicago area for just these reasons. Property taxes are about the same.

Marketing 448

Marketing Realtors Buyers Property Taxes 448

Housing Wire

JUNE 25, 2024

There’s just no incentive for buyers to jump now. But Altos data also shows that a large share of homes (36.9%) include cuts to the original list price, a sign that inventory is rising and sellers are having a more difficult time locating a buyer. “This is a function of mortgage rates staying in the 7s. Nationally, 36.9%

Mortgage 418

Mortgage Marketing Property Taxes Sellers 418

Inman

AUGUST 7, 2024

Households have deferred moving, partially due to high "hidden" homeownership costs such as property taxes, insurance and climate change, according to a report.

Property Taxes 174

Property Taxes Buyers Insurance Marketing 174

Housing Wire

MARCH 28, 2025

Data shows that major homeownership expenses, including mortgage payments , property taxes and insurance , now consume 32.5% A recent small decline in mortgage rates surely hasn’t hurt either for fledgling buyers.” of the average national wage of $74,698. above Q1 2024 (31.4%) and 5.1%

Property Taxes 317

Property Taxes Housing Market Insurance Buyers 317

Housing Wire

OCTOBER 8, 2021

home price increase translated into a monthly mortgage payment of $1,179 on a median-priced home — not including property taxes and insurance. The analysis also suggests that most distressed property buyers are performing extensive rehab before reselling, and that most renovated homes are being resold to owner-occupant buyers.

Renovations 543

Renovations Inventory Marketing Property Taxes 543

Housing Wire

FEBRUARY 15, 2024

For that group, the median monthly cost of owning a home — which includes insurance and property taxes, among other things — is just over $600 (similar to the monthly cost for other generations with no outstanding mortgage, but other generations are far less likely to own homes free and clear),” the report stated.

Property Taxes 488

Property Taxes Insurance Construction Inventory 488

Housing Wire

JUNE 11, 2021

A home inspector, hired and paid by the buyer typically, will look at the plumbing, electricity and the overall foundation of the home and then provide a report with their findings. While home inspections aren’t required, they provide the buyer with several important opportunities in the home-buying process.

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Inspection Appraisal Appraisal Process Buyers 459

Housing Wire

DECEMBER 22, 2020

You can offer more if you’re looking to get a leg up over other buyers. Most lenders require you to pay for home insurance and property taxes as part of your monthly payment. These funds are then put into an escrow account and held until your premium and taxes come due each year.

Mortgage 448

Mortgage Property Taxes Loan Officers Sellers 448

Housing Wire

SEPTEMBER 17, 2024

When you start to see a world where homeowners insurance and property taxes all go up, we’ve got borrowers hovering around a 50% DTI. . “What we saw during COVID was the No. 1 predictor of who took forbearance was DTI,” Calabria told the crowd. It sure as hell does. That’s not a healthy situation.”

Property Taxes 434

Property Taxes Government Legal Insurance 434

Housing Wire

AUGUST 10, 2023

The share of distressed property auction buyers who say they are owner-occupants nearly doubled over the last year, boosted by a game-changing government policy that took effect last August. That was nearly double the 8% of buyers who described themselves as owner-occupants in a February 2022 Auction.com buyer survey.

Renovations 370

Renovations Buyers Development Insurance 370

Housing Wire

JANUARY 22, 2021

Townhouses tend to be a bit larger than condos, and buyers actually own the land they rest on, too. For the most part, townhouse communities are managed much like condos; exterior maintenance and repairs are handled by a property manager. 5 tips for finding the right mortgage lender for you. Buying a home? Boost your FICO score first.

Property Management 418

Property Management Decorating HOA Property Taxes 418

Housing Wire

AUGUST 29, 2024

Buyers have more selection, with less upward price pressure , in an affordability-challenged market. Florida homeowners have the tax costs and also have sharply rising insurance costs — especially after Hurricane Ian. Why does it matter? Another interpretation of these inventory trends is more bearish. What happens next?

Inventory 482

Inventory Real Estate Housing Market Construction 482

Housing Wire

JUNE 24, 2024

There’s just no incentive for buyers to jump now. You have elements like property taxes and insurance costs that are way up, so you have a lot more sellers. You have buyers and sellers who have no idea how this market is changing right now. This is a function of mortgage rates staying in the 7s. The western U.S.

Inventory 458

Inventory Sellers New Listings Property Taxes 458

Housing Wire

AUGUST 29, 2024

Insurance premiums are up 27.7% Labor costs for property management have increased nearly 50% in some markets, and security needs and costs have risen, too. High interest rates and inflation mean the cost of reinvesting in properties is expensive. Rising operating costs add to the pressure.

Landlords 434

Landlords Tenants Property Taxes Development 434

Housing Wire

JULY 7, 2021

MAM emerged as the buyer of servicer Reverse Mortgage Solutions (RMS) in 2019, buying the company and its portfolio from its former parent Ditech Holding Corporation after a protracted, court-supervised process. The buyer , recent history in reverse. These benefits will contribute to even stronger momentum for Mr. Cooper.”.

Mortgage 418

Mortgage Property Taxes Insurance Business 418

Appraisal Buzz

AUGUST 16, 2024

in the second quarter, as many potential buyers were deterred by elevated mortgage rates and home prices. High insurance rates and property taxes in the area were cited as factors deterring investment. Despite the renewed investor interest, overall home purchases in the U.S. year-over-year.

Investors 370

Investors Property Taxes Housing Market Real Estate 370

Housing Wire

AUGUST 16, 2024

While investors are still sensitive to mortgage rate changes, they are less sensitive than consumer buyers as 69% of investors pay in cash. Redfin attributes this uptick to investors being quicker to come off the sidelines than consumer buyers. In comparison, total U.S. home purchases fell 1.9% metro areas going back to 2000.

Investors 468

Investors Tenants Real Estate Property Taxes 468

Housing Wire

AUGUST 24, 2023

However, persistently high mortgage rates pose a significant affordability challenge to buyers and sellers (not to mention the workers of a trillion dollar-plus industry). In July, 26% of existing homes sold to cash buyers while 7% of new homes sold to cash buyers. said Sturtevant.

Mortgage 370

Mortgage Property Taxes Investors Buyers 370

Housing Wire

JULY 27, 2023

For buyers of a median-priced home, the monthly mortgage payment—assuming a 20% down payment—amounts to about $2,300, not including property taxes and insurance,“ said Ratiu. Some buyers have turned to new construction to secure a home, and builders are ramping up their workforces to complete projects.

Mortgage 370

Mortgage Property Taxes Housing Market Buyers 370

Appraisal Buzz

JULY 10, 2024

Though existing house sales in the United States fell to a nearly two-decade low in 2023, these sentiments show that buyers still have faith. Cost hikes for utilities (83%), house insurance (81%), property taxes (81%) and repairs (74%), according to homeowners, have been experienced.

Property Taxes 367

Property Taxes Finance Lending Housing Market 367