Housing Wire

JULY 26, 2024

The majority of real estate sales fall under this category and usually employ a buyer’s and seller’s agent who negotiate on behalf of their respective parties. In a controlled transaction there is an established relationship between the buyer and seller. Does your buyer need to secure a mortgage ? Discuss financing.

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Cleveland Appraisal Blog

JULY 20, 2022

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. Appraisal gap clauses have become relatively common in recent years due to many homes being sold at prices that market data does not support as being the market value.

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Appraisal Market Value Contracts Buyers 402

Cleveland Appraisal Blog

AUGUST 6, 2021

Below is a chart from the National Association of REALTORS article on home buyer regret. Some buyers may be relocating from a different state, and feel pressured to purchase a home sight unseen. It’s not that these pictures are meant to deceive buyers. Do you know of anyone who purchased a home within the past year?

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Buyers Property Taxes Inspection Market Value 243

Appraisal Buzz

APRIL 9, 2025

Now, you still have appreciating market value and an increasing rate environment. Tight inventory, record high prices, and new regulations worsening affordability are making it even tougher for first-time buyers to compete. It just makes it less affordable. North Carolina: 30.0K Georgia: 27.7K Washington: 22.9K Ohio: 14.6K

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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%.

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Market Value Home Value Housing Market Buyers 482

Cleveland Appraisal Blog

MAY 27, 2021

The buyers paid cash. I must admit, in the past year, there have been times when I have felt like many buyers don’t really care about value anymore. While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption.

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Market Value Appraisal Buyers Contracts 418

Appraisal Buzz

AUGUST 16, 2021

Fannie Mae defines market value in part as “the most probable price that a property should bring…” Thus, probability is the very foundation of the most common definition of market value. In other words, why are appraiser estimating market value below the contract price so often? Time to make an offer.

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Market Value Buyers Appraisal Sellers 448

Housing Wire

JANUARY 9, 2023

Buyer behavior on the Auction.com platform provides one of the best barometers of the retail housing market because the success and livelihood of these buyers depend heavily on them accurately anticipating what the retail market will look like in the next six to 12 months. percent, according to ATTOM Data Solutions.

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Retail Sellers Buyers Market Value 505

Housing Wire

NOVEMBER 23, 2020

Steve Price, senior vice president of trustee operations at Auction.com, said this is likely because of the shift to vacant or abandoned properties that often come with more deferred maintenance – but the average price relative to estimated full market value increased to a 6.5-year year high in September.

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Buyers Real Estate Investors Retail 533

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.

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Appraisal Buzz

JULY 18, 2022

Naturally, this has forced buyers to seek lower price points or has completely eliminated them from the market. Therefore, it begs the question: what will happen to home values? Terms of a transaction is typically where you’ll find buyers tipping the scale back to even in negotiations before there’s an influence on price.

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Sellers Marketing Market Value Home Value 435

Cleveland Appraisal Blog

APRIL 21, 2022

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

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Market Value Appraisal Agents Real Estate Agent 354

Housing Wire

MAY 21, 2024

For many, buying a home is a complex process, and navigating the real estate market’s rules and regulations can be tricky, especially in states where property sale prices remain a secret. Without sales figures, it’s difficult to access comparable sales, and home buyers may find it challenging to gauge the fair market value of a property.

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Appraisal Buzz

MARCH 4, 2025

There are more homes for sale right now than in recent years and that has led to buyers markets in many areas of the country. We expect pricesand therefore home valuesto keep rising steadily this year because there are still enough buyers competing over a relatively small number of listings, compared to before the pandemic.

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Home Value Housing Market Buyers Marketing 243

Housing Wire

JANUARY 13, 2022

The median age of a first-time buyer for the past three years has remained 33 years old. Between 1981 and 2018, the median age of first-time buyers ranged between 28 and 32. There will soon be a wave of potential buyers aging into the first-time buyer age group. There are 23.4 million adults aged 28-32 in the U.S.

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Buyers Inventory Landlords Housing Market 488

Appraisal Buzz

OCTOBER 4, 2024

Almost every survey respondent agreed that trash, junk, or excessive clutter, either outside or inside a seller’s home, decreases a home’s market value. About half of them estimated that said disarray would result in a “significant” property value decrease. This can slash your home’s value by up to 30%,” he said.

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Home Value Real Estate Agent Sellers Real Estate 397

Housing Wire

OCTOBER 17, 2023

That makes those homeowners susceptible to predatory behavior by some buyers operating in the pre-foreclosure marketplace, behavior that has been chronicled in several prominent, recent news stories. These institutional buyers purchased pre-foreclosure properties for 30% below estimated after-repair market value on average.

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Retail Buyers Market Value Real Estate Agent 435

Housing Wire

OCTOBER 12, 2023

When we go through the brokerage valuation process, the product is Fair Market Value (FMV). When we see transactions that are executed at a price that is materially different than FMV, it is usually because the deal terms are imbalanced, favoring either the buyer or the seller. At a 3x multiple, FMV would be $600,000.

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Sellers Buyers Brokerage Valuation 448

Appraisal Hub

DECEMBER 11, 2024

A home appraisal determines the fair market value of the property. These additional layers of protection give both buyers and lenders peace of mind. Determines the propertys market value. Both protect the buyer, either by flagging repairs (inspection) or confirming value (appraisal).

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Inspection Buyers Appraisal Investing 78

Housing Wire

APRIL 19, 2024

Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile. High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market.

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Luxury Properties New Listings Buyers Market Value 488

Housing Wire

JUNE 25, 2024

This keeps single-family inventory out of the hands of prospective buyers who may be looking to start raising families. Some Americans may not be able to decouple the market value of their home from the sentimental value.

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Real Estate Sellers Market Value Buyers 417

Housing Wire

MAY 12, 2022

But these higher home prices and rising interest rates make it extremely challenging for first time buyers to enter the market.”. of mortgaged homes, or one in 31, were considered seriously underwater – meaning the owner owed at least 25% more than the property’s estimated market value.

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Supply Chain Housing Market Market Value Buyers 482

Appraisal Buzz

SEPTEMBER 26, 2022

They were able to get others to declare the value as fair, but some valued fair as high as possible. They found liar buyers. Everything worked well so long as “value” equaled price! We have rules, we have standards, and we all know the exact definition of value. buyer and seller are avariciously motivated; biased.

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Market Value Sellers Buyers Finance 321

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

Inman

FEBRUARY 22, 2023

In its latest real estate market report on Wednesday, Redfin said the total market value for U.S. homes dropped $2.3 trillion from June to December 2022 — the largest six-month drop since the Great Recession.

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Market Value Marketing Real Estate Home Value 148

Appraisal Buzz

JULY 25, 2024

Redfin defines “luxury homes” as those estimated to be in the top 5% of their respective metro area based on market value, and non-luxury homes as those estimated to be in the 35th-65th percentile based on market value. in Q2, year-over-year. increase to $1,395,000); San Jose, California (16.4% increase to $2,572,500).

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New Listings Inventory Market Value Buyers 396

Housing Wire

NOVEMBER 7, 2023

If somebody is concerned about that (taxes), I always put it back on the buyer and ask them, ‘Do you have any control in the increase of your rent payment?’” ATTOM’s figures are estimates based on an analysis of local tax data, home values and the use of an automated valuation model. In 2022, the average tax on a U.S.

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Property Taxes Home Value Government Valuation 541

Appraisal Buzz

AUGUST 2, 2024

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. housing market, influenced by a blend of economic conditions, regional variations, and seasonal trends.

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Home Value Market Value Housing Market Mortgage 418

Housing Wire

APRIL 5, 2024

Although other local agents said they wouldn’t characterize the market as being in a lull, they agree that interest rates and inventory are two major challenges to overcome. Regardless of the Fed’s decision, Nicole Wilhelm believes 2024 is still a good time for buyers to be in the housing market. “I

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Housing Market Marketing Inventory Sellers 459

Housing Wire

FEBRUARY 14, 2024

Moreover, low-priced homes have more potential for value increases as the stock of low-priced homes is both limited and coveted. “I I get tons of emails every day from investors looking for properties, but of course, they only want homes that are under market value, which are hard to come by.

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Real Estate Investors Real Estate Agent Market Value 521

Appraisal Buzz

DECEMBER 9, 2024

Understanding these nuances is crucial for ensuring that time adjustments accurately reflect changing market conditions. To illustrate, Fannie Mae provides an example where the overall market value trend for a 12-month period increased by 7%. Active listings also provide insight into current seller and buyer motivations.

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Appraisal Marketing Valuation Tools 358

Housing Wire

APRIL 8, 2021

Surplus funds are proceeds from a foreclosure sale to a third-party buyer that are above and beyond the total debt owed to the foreclosing lender. The increased market size Wells refers to is best demonstrated in the third-party buyer sales rate for foreclosures brought to auction on the Auction.com platform compared to the overall market.

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Retail Market Value Investors Marketing 459

Realtor

OCTOBER 29, 2020

When you’re a first-time home buyer approaching the finish line in the journey to your new home, you want nothing to go wrong, right? These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected.

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Buyers Inspection Contracts Real Estate Agent 208

Housing Wire

NOVEMBER 9, 2021

During its third-quarter earnings call late last month, First American executives announced that the $292 million of capital the company invested into 16 different venture-backed proptech companies had reached a market value of $669 million as of Sept.

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Investing Insurance Market Value Real Estate 370

Housing Wire

MARCH 24, 2023

An appraisal gap is the difference between what a buyer agreed to pay for a home in a purchase contract and what an appraiser concludes as the fair market value of the property. Fannie Mae recently announced the Value Acceptance + Property Data solution. Well, a cure for appraisal gap anxiety has appeared on the scene.

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Appraisal Contracts Valuation Tools 476

Cleveland Appraisal Blog

MARCH 30, 2021

TODAY’S HOME BUYERS ARE LIKE THE CARP. This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. This year, it appears that buyer panic is even worse than last year. That is a lot of bread!

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Housing Market Marketing Reconsideration of Value Appraisal 368

Cleveland Appraisal Blog

FEBRUARY 16, 2024

FINISHED SQUARE FOOTAGE On more than one occasion some who have read my appraisal reports felt that my opinion of value was too high. They felt that way because of sales they saw on Zillow that appeared to be comparable and sold for less than my opinion of the market value of the property I appraised.

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Appraisal Market Value Real Estate Clients 409