Housing Wire

FEBRUARY 16, 2023

In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry. As you can see below, housing completions are slowly moving along; the homebuilders have more new homes under construction that they haven’t even started yet than active new homes for sale.

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Housing Wire

JANUARY 23, 2024

home sales in nearly 30 years as high mortgage rates frustrate buyers, the market is reshaping real estate once again, placing buyers on the back foot and swinging the pendulum back to favoring sellers. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers.

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Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. Existing home sales fell steeply in most markets.

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Appraisal Buzz

SEPTEMBER 5, 2024

The panelists also shared that they think speeding up construction permitting processes, increasing density around transit corridors, and allowing more “missing middle’-type housing are the local and state policy reforms likeliest to increase housing production. “I Many of those sellers will list if rates get back down to 5%.”

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Housing Wire

JULY 13, 2024

Here are the price-cut percentages for last week over the previous few years: 2024: 38% 2023: 33% 2022: 33% Pending sales Below is the Altos Research weekly pending contract data year-over-year to show real-time demand. With more sellers who are buyers, we have a tad more demand this year.

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Housing Wire

JULY 23, 2024

HousingWire Lead Analyst Logan Mohtashami recently wrote that higher mortgage rates “have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. And higher rates are also impacting the future supply of homes, as housing permits have been in a downtrend for a while.“

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Housing Wire

NOVEMBER 2, 2022

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 7.06% on Wednesday from last week’s 7.16%, according to the Mortgage Bankers Association. . “The Tables have turned for some sellers.

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Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. Supply of homes for sale is very low, and most of the year we’ve had more buyers than sellers. New contracts dipped as affordability is out of reach for so many. The light portion of the bar are the new contracts that week.

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Housing Wire

JULY 26, 2021

That kind of drawn-out timetable is typical for the majority of western nations that use the auctioneer system where a seller works with one, perhaps two, auctioneers. fee to the seller. If a showing is to happen, buyers must make appointments with each seller auctioneer to view those homes. Compare all that to the U.S.

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Housing Wire

MAY 23, 2023

Last year, while the Census Bureau was reporting the new home sales numbers and the builders were having high cancellation rates, the monthly sales report didn’t account for the cancellations of contracts. months and above, the builders will pull back on construction. The Inventory for homes under construction is 263,000 = 4.6

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Housing Wire

MARCH 20, 2024

It also bans NAR from setting rules that would allow a seller’s agent to set compensation for a buyer’s agent, removes commission information from MLS fields, and strikes any requirements that agents subscribe to multiple-listing services. Zillow declined to comment on recent stock price movements.

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Housing Wire

AUGUST 23, 2022

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. Also, we had a supply spike in 2018, which caused builders to pause construction — and that was with rates only getting toward 5%. From Census: The seasonally?adjusted

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Housing Wire

JANUARY 19, 2024

Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. This is why the Altos Research numbers we cite are always smaller than the NAR numbers, which accounts for all home types and those in contract.

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Housing Wire

FEBRUARY 23, 2021

Finally, lumber and other building materials are still scarce, forcing construction companies to delay projects and prevent an inventory build-up. ” Zillow Economist Matthew Speakman added that homes in some major markets are going under contract more than a month faster than they were at this time last year. December 2020’s 10.4%

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Housing Wire

FEBRUARY 18, 2022

Homes went under contract in just 19 days on average, down from 21 a year ago. Homes priced between $100,000 and $250,000 were down 23% from January 2021, while sales of homes priced between $750,000 and $1 million rose 33%. Sales of homes priced above $1 million were up 39%. “While the 6.7

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Housing Wire

OCTOBER 21, 2021

The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike Fratantoni, MBA SVP and chief economist said in a statement. MBA expects new home construction to help support growing inventory levels as we enter 2022, which will lead to a deceleration in home-price growth,” Frantantoni said in a statement.

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The Robert Weiler Company

JANUARY 2, 2021

In real estate, buyers and sellers must be knowledgeable to make informed decisions. Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land.

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Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. The lender claims actions by Katie Chikonde cost the lender millions of dollars.

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Housing Wire

MAY 31, 2022

increase year over year for properties under contract, indicating that demand in the city remains strong,” said Elizabeth Anne Stribling-Kivlan, Compass’ senior managing director. When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”. during the same time.

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Housing Wire

JUNE 7, 2022

“These results suggest to us that increased mortgage rates, high home prices and inflation will likely continue to squeeze would-be homebuyers — as well as those potential sellers with lower, locked-in mortgage rates — out of the market, supporting our forecast that home sales will slow meaningfully through the rest of this year and into next.”.

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Housing Wire

MAY 10, 2023

For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity. In much of suburban New Jersey, where new construction is rarer than cheap Bruce Springsteen tickets, the pandemic-era conditions never left. One home recently had over 60 offers!

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Housing Wire

JULY 25, 2022

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. Both in New York City and across the metropolitan region, there has been a steady and pronounced decline in signed contracts in both May and June, going against normal seasonal trends. …

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Housing Wire

MAY 24, 2022

I know some people don’t agree with me on this, but the price gains in both the existing home and new home sales sector show that homebuilders and sellers had too much pricing power and needed to be checked. months and above, the builders will pull back on construction. The only way this happens is by higher rates. When supply is 4.4

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Housing Wire

OCTOBER 21, 2020

Lovern was actually on maternity leave at that time when open houses and contracts were paused. “In In March, you saw people draw back – we had some buyers terminate their contracts, we had some sellers pull listings out of health and safety – just really not knowing what this virus was all going to entail,” Lovern said.

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Cleveland Appraisal Blog

MARCH 30, 2021

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. There is just not much out there to buy.

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Appraisal Buzz

JUNE 20, 2022

Borrowers, sellers, and real estate agents are seeking to lay blame for failed real estate transactions and often target the appraiser as the villain. This might include assignment conditions, contracts, leases, income and expense data, subject property descriptions, and builder’s cost information.

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Housing Wire

JULY 9, 2024

Just this week, I have spent time with successful people in the following pursuits: Technology consulting, software development, real estate sales, building construction and contracting, the law, nuclear physics innovation, advertising, medical sales, and product innovation. Also, architecture, store management, and payments services.

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Housing Wire

NOVEMBER 3, 2023

The lawsuit, which was originally filed in 2019 and won class-action status in April, alleges that some NAR rules, including one that requires listing brokers to offer buyer brokers a commission to list a property in a Realtor-affiliated MLS, violate the Sherman Antitrust Act by inflating seller costs.

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Birmingham Appraisal

FEBRUARY 11, 2025

Assessors determine square footage based on: Builder-reported figures: When a home is constructed, builders may report square footage for tax purposes, but these figures can change if plans are modified. Underpricing: If the home is larger than tax records suggest, the seller may leave money on the table by accepting a lower offer.

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Raleigh Realty

AUGUST 17, 2021

Understanding Due Diligence and Earnest Money in North Carolina Real Estate When you go under contract on a home in North Carolina you are going to encounter terms like Due Diligence and Earnest Money. It's important to note that real estate contracts and laws change depending on what state you are in. Due Diligence: What Is it?

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Empire Appraisal Group

DECEMBER 14, 2023

1 in 3 Sellers Granting Buyer Concessions By Kerry Smith Two Fla. SEATTLE – Home sellers gave concessions to buyers in 35% of U.S. Tampa, however, saw a rise in seller concessions to 43.1% It does not include a seller-lowered list price or price cut that resulted from buyer negotiations. But in Tampa, 43.1%

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Raleigh Realty

FEBRUARY 19, 2022

Like making counter-offers and going through the home inspection process, the home appraisal can be a sticking point between buyer and seller. The home appraisal is something you can negotiate prior to going under contract as well, or even while under contract. It's one of the final steps after going under contract.

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Portland Appraisal Blog

DECEMBER 24, 2024

The following shows the sales price to the original list price ratio: A ratio above 100% is good for sellers, as it typically indicates a “hot” market with competitive bidding. The 27th floor penthouse initially sold for $5,441,294 in 2016 as a new construction. 2024 has seen a sharp drop off since late summer.

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Housing Wire

APRIL 27, 2023

But the caveat, of course, is that all bets are off if there’s a more meaningful contraction in lending [in the wake of recent bank failures and other economic factors] because then you’re in serious trouble,” Petrosinelli added.

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Hank Miller Team

NOVEMBER 8, 2021

What happens if the seller didn’t make the agreed upon repairs? The most common problems are changes in the home from contract to close and agreed upon repairs. In other words, the home should transfer with the included items and in the same overall condition as it was when contracted. What happens if the HVAC isn’t working?

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DataMaster

JANUARY 15, 2021

It’s a seller’s market! Not only did the historically low interest rates contribute to the rise in home prices, but new home construction didn’t keep up. The increase in home prices is a boon to real estate professionals and home sellers, but a bane to buyers. New Home Construction. Appraising in 2021.

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Raleigh Realty

JULY 31, 2022

Major Home Inspection Issues and How to Handle Repairs If your home inspection turns up any of these 7 major issues it could be time to negotiate some mandatory fixes with the seller before you proceed with purchasing the home. This is one of the steps that happen after you go under contract and sometimes can happen prior to.

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