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Luxury Market Heats Up as Affluent Buyers Seek ‘Forever Homes’

Appraisal Buzz

Demand for “have-it-all” properties and the “forever dream home” will shape this spring’s luxury housing market, according to the Coldwell Banker Global Luxury 2024 Mid-Year Trend Report , which forecasts growing optimism among affluent consumers and an influx of desirable inventory. Among specialists, 32.8% elections. “A

Buyers 417
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Share of Buyers Securing ‘Below-Market’ Rates Ticks Up 

Appraisal Buzz

Key Findings: Although average mortgage rates are much higher, 45% of buyers who have purchased a home in the past year report having a rate below 5%. The most common way buyers have secured below-market rates is through special financing offers from sellers or home builders.

Buyers 370
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Mortgage rates falling to 5% would get a swath of buyers back in the market

Housing Wire

Declining mortgage rates have yet to break the dam on the stalled housing market, but the sweet spot on rates that would get the market moving again is about 5%. That’s according to a new survey from Mphasis Digital Risk, which revealed that 42% of prospective buyers said a 5% rate would get them back in the market.

Buyers 470
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The two big housing market trends to watch in 2025

Housing Wire

All the housing market data for 2024 is in, and its fair to say that the housing market surprised us again! However, there are two big trends that stand out as we launch into 2025 affordability and sellers in the market. In the last few months, the market finally saw some sales growth over the previous year.

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New construction vs. resale homes: How agents can guide buyers in today’s market

Housing Wire

With high prices and still stiff competition, those looking to buy a home in today’s real estate market need to consider every opportunity, including the choice between new construction or a resale home. It can be tough for a buyer to choose when faced with the allure of a brand-new build or the charm and affordability of an older home.

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VA issues temporary fix to allow buyer-paid broker fees

Housing Wire

Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. The VA said it will develop a more permanent policy “as the real estate brokerage market restabilizes and new practices take hold.”

Buyers 523
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Buyers still expect sellers to cover agent compensation

Housing Wire

Overall, 83% of agents said their buyers still expect sellers to cover 100% of buyer agent commissions, while 10% said their buyers expect sellers to cover at least a portion of their agent’s fees. More than half (55%) of agents surveyed reported that sellers who do offer buy-side compensation are offering 2.5%

Sellers 508