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.

Market Value 368

Market Value Buyers Valuation Marketing 368

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. A couple purchased the home in 1969, but took out a $189,000 reverse mortgage on the property in 1997.

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Mortgage Design Architecture Market Value 320

Appraisal Buzz

JULY 18, 2022

The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. Fast-forward to today, and that same loan translates into a monthly payment of $1,468 – a 46% increase in monthly mortgage expense! Since 1976, mortgage interest rates and home price appreciation have had a positive, but weak relationship.

Sellers 435

Sellers Marketing Market Value Home Value 435

Appraisal Buzz

AUGUST 8, 2024

Chen Zhao, Redfin’s Economics Research Lead, predicts that the market will likely surpass $50 trillion within the next 12 months due to a lack of new listings keeping prices elevated. 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. trillion.

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Valuation Housing Market Marketing Home Value 417

Housing Wire

MAY 12, 2022

A homeowner is considered equity rich when they have at least 50% equity in their home, a feat more easily accomplished when skyrocketing home price appreciation widens the gap between what someone owes on their mortgage and the value of their house. The portion of mortgaged homes that were equity rich rose from 41.9%

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Supply Chain Housing Market Market Value Buyers 482

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 For sure, it can dampen demand and, by extension, harm prices in some markets.”

Property Taxes 540

Property Taxes Home Value Government Valuation 540

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. of mortgaged homes considered equity-rich, followed by Maine, New Hampshire, Montana, and Rhode Island.

Home Value 418

Home Value Market Value Housing Market Mortgage 418

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 443

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.

Luxury Properties 436

Luxury Properties New Listings Buyers Housing Market 436

Housing Wire

JANUARY 13, 2022

enters the third year of the pandemic, the 2022 housing market remains on stable ground. for the 30-year-fixed rate mortgage by year end, the rate increases may temper demand in 2022. The median age of a first-time buyer for the past three years has remained 33 years old. As the U.S. There are 23.4 Familial dynamics.

Buyers 480

Buyers Inventory Landlords Housing Market 480

Housing Wire

SEPTEMBER 19, 2023

You’ve found a house for your buyer or a buyer for the home you’re selling. Appraisals are required for homes financed with any type of mortgage. Getting approved for a mortgage depends largely on the outcome of an appraisal. Mortgage lenders want to make sure the property is worth the sale price. Not necessarily.

Real Estate 470

Real Estate Appraisal Agents Inspection 470

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

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 458

Housing Wire

FEBRUARY 14, 2024

As mortgage rates and home prices have remained elevated across the board, investors have mirrored consumer homebuyers and have shifted their focus toward more affordable homes. Moreover, low-priced homes have more potential for value increases as the stock of low-priced homes is both limited and coveted. a year earlier) and 15.9%

Real Estate 496

Real Estate Investors Real Estate Agent Market Value 496

Housing Wire

MAY 12, 2021

Even with historically low levels of inventory, rising mortgage rates and uneven job growth, experts still believe 2021 will be a record year for home sales. trillion is roughly equal to France’s 2020 gross domestic product , or the combined market value of Amazon and Facebook. How much will be spent on homes? billion. .

Housing Market 436

Housing Market Inventory Mortgage Market Value 436

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 slight pullback in 2020 is due largely to side effects of the pandemic-induced foreclosure moratorium on government-backed mortgages in place for most of the year.

Retail 441

Retail Market Value Marketing Investors 441

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

Housing Market 410

Housing Market Marketing Inventory Agents 410

Appraisal Buzz

JUNE 10, 2024

Housing Market Highlights: The Four Weeks Ending June 2 The median sale price was $392,200, representing a 4.4% YoY change. The median monthly mortgage payment was $2,836 at a 7.03% mortgage rate, representing an 8.7% I’ve seen buyers get a home under asking price when it has been on the market for a few weeks.

New Listings 397

New Listings Sellers Mortgage Agents 397

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.

Buyers 208

Buyers Inspection Contracts Real Estate Agent 208

Housing Wire

DECEMBER 10, 2021

In the world of mortgage-financing, there exists a product line defined by what it is not — non-qualified mortgage (non-QM), non-prime, non-agency or an alternative-documentation loan. So far this year, the company has brought seven non-QM private-label deals to market valued at nearly $2.5

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Lending Finance Mortgage Government 492

Miller Samuel

NOVEMBER 30, 2018

My friend and appraisal colleague Ryan Lundquist and I authored a petition on change.org to point out the growing wreckless behavior that is enveloping the mortgage process. There’s a proposal from the FDIC, Federal Reserve, and Treasury Department not to require appraisals for some mortgages under $400,000. Ever heard of straw buyers?

Appraisal 300

Appraisal Inspection Real Estate Agent Agents 300

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). We’ll probably trade a little over $1.2

Lending 452

Lending Home Value Mortgage Renovations 452

Housing Wire

JUNE 25, 2024

Even as older Americans make their voices heard when it comes to aging-in-place preferences, some in the mortgage business have taken issue with older homeowners staying in their homes for longer periods of time. This keeps single-family inventory out of the hands of prospective buyers who may be looking to start raising families.

Real Estate 328

Real Estate Sellers Market Value Buyers 328

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.

Market Value 141

Market Value Marketing Real Estate Home Value 141

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.

Housing Market 333

Housing Market Retail Marketing Sellers 333

Housing Wire

MAY 6, 2021

The hike has also added nearly $13,000 to the market value of an average new multifamily home, which translates into households paying $119 a month more to rent a new apartment, the NAHB said. Then, mortgage rates dropped below 3% , giving prospective homebuyers ammunition to continue shopping — even during the pandemic.

Housing Market 447

Housing Market Market Value Marketing Construction 447

Housing Wire

JULY 17, 2023

With real estate inventory at a near-record low, buyers seeking a place to call home are facing stiff competition as bidding wars continue to be commonplace. It is critical that title professionals and our industry partners spread awareness about this type of fraud and educate buyers about the steps they should take to protect themselves.

Sellers 367

Sellers Real Estate Agent Real Estate Insurance 367

Housing Wire

MAY 18, 2021

Here’s what to expect in the mortgage application process. Buying your dream home starts with being a well-prepared buyer and beginning the mortgage application process before you even look at homes. But when inventory dropped to a third of its normal amount, everything changed. Presented by: Citi.

Real Estate 461

Real Estate Marketing Real Estate Agent Agents 461

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Housing Wire

JULY 6, 2022

PFSI), which ranks as one of the top five mortgage lenders nationally, are seeking to raise more than $700 million in the debt markets through the sale of notes secured by mortgage servicing rights. The notes are backed by Ginnie Mae mortgage-servicing rights, according to a presale report by Kroll Bond Rating Agency (KBRA).

Investing 342

Investing Finance Mortgage Valuation 342

Housing Wire

MARCH 9, 2021

. “Significant gains in home values fueled equity gains from 2019 to January 2021 for homeowners of all races,” the press release stated. ” Home prices were up 14% year over year in January, and the total combined value of homes nationwide has risen by more than $2 trillion since the COVID-19 pandemic began.

Home Value 494

Home Value Market Value Brokerage Inventory 494

Cleveland Appraisal Blog

APRIL 11, 2023

The research and analysis that a well-trained professional appraiser can provide you with will include important information above and beyond their opinion of the market value of the property they are appraising. MARKET TRENDS As everyone knows, home sales prices over the past few years were increasing rapidly!

Appraisal 353

Appraisal Market Value Legal Property Appraisal 353

Housing Wire

DECEMBER 4, 2024

Rising home prices were a stressor for buyers who wanted to enter the real estate market in 2024. Unison defines home equity as “the difference between a property’s market value and the outstanding mortgage balance.” The national market experienced a 4.5% home prices.

Housing Market 324

Housing Market Market Value Real Estate Investors 324

Housing Wire

MAY 20, 2021

Accurately establishing a home’s value is not just an important factor in real estate transactions and mortgage lending, it is integral to household wealth creation, as homeownership continues to be one of the primary pathways for Americans to build wealth. An AVM will use this sale record as part of the formula to estimate value.

Appraisal 490

Appraisal Valuation Technology Training 490

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. The REIT lists the fair value of those loans, however, at about $1.19 The dreaded discount.

Marketing 380

Marketing Real Estate Investors Mortgage 380

Housing Wire

FEBRUARY 7, 2023

The year ahead for the mortgage-servicing rights market is shaping up to be a lucrative play for investors, lenders and others looking to purchase MSR assets. Independent mortgage banks (IMBs) leaning on MSR sales, however, now face a supply-demand imbalance, market observers say.

Sellers 303

Sellers Investors Valuation Finance 303

Housing Wire

JANUARY 21, 2022

ESG securities such as bonds are backed by collateral, like mortgages, that can be defined as meeting environmentally sustainable, socially responsible, or good governance criteria. Digital mortgage platform MAXEX , backed by investment from financial-services giant JPMorgan , sees a bright future in the ESG market.

Marketing 394

Marketing Investors Development Mortgage 394