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 ?

Market Value 398

Market Value Real Estate Agent Real Estate Finance 398

Miller Samuel

MARCH 19, 2019

In the original 2014 proposal by the Fiscal Policy Institute, the first item in the proposal is off to a bad start as they describe what happened in the market: These owners bid up the price of NYC residential real estate, and since they don’t spend much time in these units, contribute little to the local economy compared to full-time residents.

Real Estate 370

Real Estate Law Development Investors 370

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. Work with a real estate professional with MLS access In non-disclosure states, the role of real estate agents becomes even more crucial.

Real Estate Agent 425

Real Estate Agent Real Estate Inspection Valuation 425

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 531

Housing Wire

OCTOBER 24, 2024

My mom and stepdad went into pre-foreclosure,” said Sandoval, a real estate agent and investor who specializes in working in low-income, often Latino neighborhoods in Southern California. “I That means the buyer will need to pay in cash or use non-traditional financing such as a hard money loan.

Retail 430

Retail Buyers Renovations Finance 430

Appraisal Buzz

OCTOBER 4, 2024

It might go without saying that a junk-cluttered yard does a home seller no favors—in fact, six in 10 real estate agents estimate that an unkempt front yard decreases a property’s value by 20% or more. What if a neighbor is the clutter-collecting culprit—could the adjacent property take a home-value hit?

Home Value 397

Home Value Real Estate Agent Sellers Real Estate 397

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.

Appraisal 397

Appraisal Market Value Contracts Buyers 397

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

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

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 Marketing 418

Appraisal Buzz

JULY 18, 2022

Assuming a $250,000 loan was committed on December 31, 2021, your monthly payment was approximately $1,007 exclusive of escrow for real estate taxes and insurance. Naturally, this has forced buyers to seek lower price points or has completely eliminated them from the market. Take a recent example of mine.

Sellers 435

Sellers Marketing Market Value Home Value 435

Housing Wire

APRIL 5, 2024

While the San Francisco-Oakland-Fremont housing market may be decently hot, local real estate agents feel that it could be hotter. The weather situation hasn’t been ideal, consumer confidence in the real estate market has weakened, interest rates are an issue and inventory is tight.”

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Housing Market Marketing Inventory Agents 410

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 350

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. According to a recent survey, 73% of real estate firms reported an increase in seller impersonation attempts this year. We can reverse this trend.

Sellers 367

Sellers Real Estate Agent Real Estate Insurance 367

Housing Wire

MAY 21, 2024

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. The after-repair value is the estimated market value of a property in fully repaired condition.

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Marketing Investors Real Estate Investing 456

Housing Wire

JUNE 25, 2024

This is according to a new report from Opendoor , which describes emotional attachment to the home as “an oft-ignored consideration in real estate decision-making for those aged 55 and up.” This keeps single-family inventory out of the hands of prospective buyers who may be looking to start raising families.

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Real Estate Sellers Market Value Buyers 328

Appraisal Buzz

MARCH 25, 2024

Of course, this applies to the work of real estate appraisal as well. The transaction is a complex interplay between buyer and seller. Striving to look through the microscope of empirical thought, we must not forget that our subject is more than real property, it is real people. Well…we must synthesize them.

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Sellers Appraisal Real Estate Buyers 379

Housing Wire

NOVEMBER 5, 2024

The removal of offers of buyer broker compensation from most MLSs across the country — as mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement — was a massive change for real estate agents and brokers. But they aren’t the only housing professionals impacted by these changes.

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Appraisal Business Real Estate Agent Real Estate 324

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 458

Housing Wire

NOVEMBER 7, 2023

Williamson County homeowners paid an average of nearly $8,000 in property taxes annually in 2022, according to the real estate analytics company ATTOM , which does an annual survey of property taxes in the spring. The market has since cooled off, but taxes are going up. In August, the county raised the tax rate slightly. “It

Property Taxes 540

Property Taxes Home Value Government Valuation 540

Appraisal Buzz

MAY 20, 2024

Interest rates impact the housing market significantly — demand can rise or fall any time they go up or down. When the market enters a phase more favorable to sellers, appraisers may find themselves caught in a crossfire between what buyers think is fair and what the homeowner expects. You can pull the comps on it for reference.

Appraisal 370

Appraisal Marketing Valuation Sellers 370

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 480

Cleveland Appraisal Blog

FEBRUARY 16, 2024

I know most of my readers are interested in appraisal and real estate-related topics. FINISHED SQUARE FOOTAGE On more than one occasion some who have read my appraisal reports felt that my opinion of value was too high. The mate on the opposing side accused me of appraising the property at a value that favored my client.

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Appraisal Market Value Real Estate Clients 405

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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Marketing Real Estate Agent Clients Tools 406

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

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

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 Housing Market 436

Miller Samuel

NOVEMBER 30, 2018

As we say in the petition , this change can impact several groups in particular: consumers, the taxpayers, the housing market and appraisers. One group not explicitly mentioned in the petition but impacted down the road are real estate agents and brokers. The problem with this logic is the buyer may not be fully informed (i.e.,

Appraisal 300

Appraisal Inspection Real Estate Agent Agents 300

Cleveland Appraisal Blog

NOVEMBER 11, 2021

Zestimate…Ten Properties ” and finally, “ iBuyers…The Pawn Shops of Real Estate “ Obviously, this topic is of interest to me, seeing is that value is my profession. My opinion of value – $345,000. There are several reasons. Zillow’s Zestimates can be accurate. Zillow’s Zestimate – $267,500.

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Valuation Market Value Appraisal Real Estate 364

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

OCTOBER 2, 2024

A property is considered equity-rich if the total estimated loan sums secured by it do not exceed 50% of its estimated market value. Southern States, Severe Underwater Mortgage Levels and Worsening Factors Loan sums for seriously underwater mortgages exceed the estimated market value of the property by at least 25%.

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Mortgage Market Value Real Estate Inventory 397

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. months less than what it was in 2019.

Appraisal 370

Appraisal Marketing Real Estate Inventory 370

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.

Sellers 400

Sellers Buyers Brokerage Valuation 400

The Robert Weiler Company

SEPTEMBER 16, 2021

The question is, how exactly is property value determined? And how does the real estate appraisal process work? The following article delves into the “science” of residential and commercial real estate appraisal and discusses the steps to succeed. Understanding the Process for Appraising Commercial Real Estate.

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Real Estate Appraisal Property Appraisal Valuation 147

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!

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Housing Wire

MAY 26, 2023

The threat posed by wire fraud has commanded quite a bit of attention from the real estate ecosystem. In a vacant lot or seller impersonation scam, public records are searched to identify real estate that is free of mortgage or other liens, as well as the identity of the property owner. billion, up from $6.9

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Sellers Real Estate Realtors Real Estate Agent 373