Appraisal Buzz

MAY 20, 2024

As an appraiser, you’re already familiar with buzzwords like seller’s and buyer’s markets. A seller’s market indicates demand is high and inventory is low, while a buyer’s market means inventory is high and demand is low. Navigate a seller’s market by considering the following.

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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. Relatively affordable markets in the south and midwest drove the gains.

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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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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. Helping the seller understand the true market value of the home given the condition can also be a challenge. After-repair value is the estimated market value of a property in fully repaired condition.

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Housing Wire

MAY 18, 2021

“I started as an agent up here in 2009, and I’ve been saying since then the only thing that would slow down the market would be some sort of national or international event,” said Pullin, a managing broker at Skyline Properties. It’s just a crazy competitive market.” Presented by: Citi.

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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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Housing Wire

JULY 26, 2024

However, an off-market transaction between family members requires careful planning and transparent communication to avoid misunderstandings and ensure a seamless process. Selling your home to a family member is called a controlled transaction, while selling your home on the open market is referred to as an arm’s length transaction.

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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. Does this seem healthy to you?

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Appraisal Buzz

AUGUST 16, 2021

Trying to meet deadlines, keep my clients informed, and put out a quality product in this busy market is enough to make my head spin. Lately, though, I’ve been trying to carve out some extra time to find out about what other appraisers are saying and doing in this unusual market. This is true, but the value of what.

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Housing Wire

OCTOBER 10, 2023

A Comparative Market Analysis (CMA) is a detailed report that helps real estate agents evaluate and determine the market value of a property. A CMA report includes information on similar, comparable properties in the area, including recent sales, active listings and current market trends.

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Housing Wire

DECEMBER 16, 2021

Let’s not forget the substantial fiscal and monetary policy that provided extraordinary levels of support for households, businesses, and markets here and abroad. The main takeaway from Mortgage Bankers Association forecast is that we see 2022 as a transition year, moving from a refinance market to a purchase market.

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Housing Wire

NOVEMBER 23, 2020

Auction.com ‘s Distressed Market Outlook report for the fourth quarter shows a pick-up in demand for distressed housing, with a 24% increase in completed foreclosure auction volume in September. Daren Blomquist, vice president of market economics at Auction.com, estimates that foreclosures will grow to more than 1.1

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Appraisal Buzz

NOVEMBER 14, 2024

premium, it remains the lowest premium for buyers. According to ATTOM’s latest analysis of more than 52 million single-family home and condo sales over the past 11 years, buyers who close on December 4 are seeing the lowest premium above the automated valuation model (AVM). premium buyers are seeing on May 27.

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Housing Wire

JANUARY 9, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. These buyers are primarily local community developers who purchase distressed properties and then resell or rent those properties on the retail market following rehab — a process that typically takes six to 12 months. .

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Housing Wire

DECEMBER 12, 2024

Institutional sellers at distressed property auctions have gradually lowered pricing over the last six months as rising retail inventory and stubbornly high mortgage rates act as twin headwinds for buyers purchasing at these auctions. The after-repair value is the estimated full market value of a property in fully repaired condition.

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Appraisal Buzz

DECEMBER 9, 2024

To effectively support market condition adjustments in line with recent Fannie Mae guidelines, appraisers can use a variety of market analysis techniques. These methods provide a solid foundation for demonstrating how changing market conditions affect property values over time.

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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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Appraisal Buzz

OCTOBER 3, 2022

I started thinking about this when I saw the news coming from the National Association of Realtors about how far the current real estate market is out of balance. I can see why loan officers, real estate agents, or buyers might push back on appraisers’ conclusions. Appraising real estate in a fast-changing market.

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Housing Wire

MAY 12, 2022

“Homeowners continue to benefit from rising home prices,” Rick Sharga, executive vice president of market intelligence for ATTOM, said in a statement. Record levels of home equity provide financial security for millions of families, and minimize the chance of another housing market crash like the one we saw in 2008.

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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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Housing Wire

JANUARY 13, 2022

enters the third year of the pandemic, the 2022 housing market remains on stable ground. 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. As the U.S. There are 23.4 million adults aged 28-32 in the U.S.

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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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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 The market has since cooled off, but taxes are going up. In August, the county raised the tax rate slightly.

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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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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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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! The “official unofficial” government-related loan definition of market value is clear. Uppraisers” were in demand.

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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. home purchases fell by 12.2%

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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. Significant quarterly increases occurred primarily in lower-priced markets across the South and Midwest. in Q2 2024.

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Housing Wire

JANUARY 21, 2022

Digital mortgage platform MAXEX , backed by investment from financial-services giant JPMorgan , sees a bright future in the ESG market. As the programs continue to gain traction and more ESG buyers are added to the platform, it is likely we will see the first true ESG-compliant RMBS issuance happen in 2022.”.

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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. They were also more likely to have benefited from a strong stock market and high levels of home equity.

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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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Housing Wire

SEPTEMBER 19, 2023

You’ve found a house for your buyer or a buyer for the home you’re selling. If the second appraisal comes back higher, buyers and sellers may feel more comfortable meeting in the middle. Appraisals protect buyers and sellers Buying and selling a home is a financial transaction that involves large sums of money.

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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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Cleveland Appraisal Blog

JANUARY 5, 2023

We all needed some rest from the crazy housing market we’ve experienced in recent years. Like most markets across the country, the Cleveland area housing market has been red hot for the past few years. However, the markets have hit an abrupt slow down, or might I say, cool down, kind of like this ice skater experienced.

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Appraisal Buzz

MARCH 25, 2024

The transaction is a complex interplay between buyer and seller. Imperfect though our efforts may be, we must work to untie the knot of each transaction and of the real estate market as a whole. The representative price of this hypothetical interaction (the product of the synthesis) is known as market value.

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Housing Wire

AUGUST 9, 2022

The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp. And they have to sell them now [in the whole loan market or via securitization when we are seeing] 6%, 6.5%

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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. That’s okay.

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