Cleveland Appraisal Blog

OCTOBER 14, 2021

THE RISE IN HOME PRICES IN THE YEARS LEADING TO 2008. 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. Who would have predicted the events of 2020-2021?

Inventory 243

Inventory Market Value Appraisal Contracts 243

Eppraisal

DECEMBER 6, 2022

Buying and selling property is a big event for those gaining the asset and for those making money on the deal. An array of factors influences the home value, mortgage interest rate, fees and timing of these exchanges. Such a development takes a large portion of the potential home buyer population out of play.

Real Estate 69

Real Estate Marketing Home Value Realtors 69

Eppraisal

NOVEMBER 25, 2022

In addition, destitute populations can affect home value in the community. In any event, they must meet with the caseworker on a regular basis so the authority can determine continued eligibility. Thus, the housing authorities have a vested interest in locations of satisfactory home value.

Tenants 69

Tenants Investing Landlords Government 69

Lamacchia Realty

NOVEMBER 26, 2024

Single families: $703,058 (2023) | $761,632 (2024) Condominiums: $623,028 (2023) | $651,584 (2024) Multi-families: $671,070 (2023) | $730,464 (2024) Homes Listed For Sale: T he number of homes listed is up by 15.5% 2024: 7,580 2023: 6,563 2022: 6,586 Pending Home Sales: The number of homes placed under contract is up by 17.6%

Sellers 69

Sellers Real Estate Buyers Home Value 69

Lamacchia Realty

NOVEMBER 26, 2024

Single families: $591,869 (2023) | $645,940 (2024) Condominiums: $489,666 (2023) | $462,358 (2024) Multi-families: $546,410 (2023) | $612,900 (2024) Homes Listed For Sale: T he number of homes listed is up by 7.1% 2024: 1,476 2023: 1,378 2022: 1,356 Pending Home Sales: The number of homes placed under contract is up by 16.0%

Sellers 69

Sellers Real Estate Buyers Home Value 69

Lamacchia Realty

NOVEMBER 26, 2024

Single families: $560,911 (2023) | $583,296 (2024) Condominiums: $353,465 (2023) | $346,074 (2024) Homes Listed For Sale: T he number of homes listed is up by 8.8% when compared to October 2023. 2024: 3,788 2023: 3,482 2022: 3,541 Pending Home Sales: The number of homes placed under contract is up by 10.4%

Sellers 68

Sellers Real Estate Buyers Home Value 68

Lamacchia Realty

JULY 29, 2024

Delaying a home purchase solely due to interest rates is often unwise. While refinancing could potentially yield savings if rates drop substantially, it’s important to remember that rising home values might counteract these benefits. year over year with 18,494 pending sales over 18,667 last year this time.

Inventory 74

Inventory Sellers Buyers Real Estate 74

Appraisal Today

MARCH 3, 2023

== Black-Owned Homes Appreciated Fastest In The Pandemic – Zillow research Black Americans’ housing wealth has made strides, but remains well below that of the typical U.S. household Excerpts: The ratio between Black home values and home values overall is closing. Black home values appreciated 42.5%

Tools 52

Tools Appraisal Home Value Business 52

Appraisal Today

JULY 26, 2024

Other recent appraisals of the same property had steadily increased in value, yet this appraisal resulted in a dramatic drop, despite the Denver market experiencing substantial growth in home values at that time. from 0.57 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. percent from 6.87

Appraisal 90

Appraisal Valuation Reconsideration of Value Contracts 90

Lamacchia Realty

JUNE 10, 2022

Rates aren’t going down unless a significant unforeseen (tragic) national event occurs , and the FED feels they need to step back in like they did when COVID hit. If rates go down due to that unforeseen event, you refinance and still win, because you have the house and the new lower rate. This trend will continue its upwards path.

Marketing 69

Marketing Sellers Buyers Inventory 69

Appraisal Today

MARCH 22, 2024

Cybersecurity Tips – The fraud event listed in the January Fraud Alert was uncovered when one of the two appraisers whose credentials had been forged, was contacted about an appraisal they had not performed. It can impact home values, insurance costs, and the overall stability of a housing market.” “The percent from 6.84

Appraisal 73

Appraisal Contracts Business Insurance 73

Appraisal Today

AUGUST 4, 2023

The censorship is part of a march toward what appraiser and podcaster Phil Crawford has coined “universal basic home value” – a utopian vision among idealogues in which government technocrats dictate the supposed value of a property using algorithms and machine learning. percent from 6.87 percent, with points increasing to 0.68

Appraisal 80

Appraisal Business Contracts Real Estate 80

Eppraisal

MARCH 28, 2023

Advantages and Disadvantages of New Construction According to Realtor.com, one-third of all homes on the market are new, i.e. recently built with no previous inhabitants. These are the very drivers of their appeal -- no aging, no wear and tear that often diminish home values. Drawbacks exist alongside benefits.

Construction 36

Construction Inspection Property Taxes Home Value 36

Appraisal Today

APRIL 14, 2023

In other words, the appraiser is agreeing to defend the AMC (or lender) and make them “whole” in the event the AMC is sued or held liable for mistakes that the appraiser makes. But what we do know is this gives even more power to Fannie, which will largely dictate home values across America once this program is fully implemented.

Appraisal 52

Appraisal Bracketing Valuation Contracts 52

Appraisal Today

NOVEMBER 4, 2022

Regression results suggested that every foot of elevation can increase home value by 1.6% value to property. Being close to a fire station is another advantage since the fire service provides a vital role in responding to flood events. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.37

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Listing Spark

FEBRUARY 7, 2024

On the heels of the largest run up in home values in recorded history, we saw an abrupt and heavy shift that’s been challenging to grapple with for sellers and buyers. It was an inevitable end to arguably the greatest run-up in home values in history. Some markets were affected more than others.

Real Estate 36

Real Estate Sellers Home Value Inventory 36

Appraisal Today

DECEMBER 23, 2022

Home type: Single family. Home value (with no comps, not even close to 30!). I tell them the ideal is to make your home look like a model home in a new subdivision. ==. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 6.34

Appraisal 52

Appraisal Contracts Mortgage Modernization 52

Empire Appraisal Group

OCTOBER 17, 2024

Repairs, on the other hand, are fixes for damage caused by unexpected events like storms or accidents, and these are often covered by insurance policies (though with potential deductibles or exclusions). Renovations, which involve substantial home improvements, generally aren’t covered by standard insurance.

Renovations 78

Renovations Inspection Tools Insurance 78

Will Springer Realtor

APRIL 10, 2024

Insurance companies may argue, however, that the costs are simply increasing along with home values. in homeowners insurance premiums for every $1000 of their home’s value in 2022. per $1000 of home value) but soaring elsewhere. Oklahoma, where tiny earthquakes rumble underneath homes regularly, pays $9.80

Real Estate 36

Real Estate Buyers Sellers Insurance 36

Will Springer Realtor

JANUARY 9, 2024

1, that requires buyers wishing to work with a licensed real estate broker to sign a services contract. The pact clarifies certain terms, including whether they will have an exclusive contract with the broker or non-exclusive, and how brokers will be compensated for their services. (I Events are subject to change. SW, Puyallup).

Mortgage 36

Mortgage Real Estate Lending Law 36

Will Springer Realtor

AUGUST 9, 2022

You don’t have to be a scientist to realize the number of climate-related events has increased in frequency and intensity across the globe. Beyond the devastation of flooding, there are the life-changing events related to rising temperatures – drought and wildfires. . >> SmartAsset analyzed more than 300 of the largest U.S.

Inventory 36

Inventory Buyers New Listings Construction 36

Will Springer Realtor

OCTOBER 8, 2021

They wonder if they missed their opportunity to buy before interest rates rise along with home values. Single-family home inventory in King stands now at 0.6 a rare event, median prices fell across all local counties month-to-month. That’s on top of the 30 homes that we recorded for sale this time last year.

Real Estate 36

Real Estate Buyers Inventory Housing Market 36

Appraisal Today

FEBRUARY 24, 2023

When I first started appraising for an assessor, several times I was met at the door by the White owner with a shotgun telling me that I was never getting on his property or in his home. While there is an income, wealth and home value gap among whites, blacks and Latinos it’s not caused by real estate appraisers. I was shocked.

Appraisal 52

Appraisal Architecture Valuation Business 52

Appraisal Today

MAY 19, 2023

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.57 percent, with points remaining at 0.61 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The average contract interest rate for 15-year fixed-rate mortgages increased to 5.96

Appraisal 52

Appraisal Business Contracts Real Estate 52

Will Springer Realtor

NOVEMBER 12, 2021

As home values rise, low-income households already on the margins of affordability are being priced out of homeownership in urban areas such as Seattle, where median prices have jumped 37% (and 52% countywide) over the past five years. Update: The home is now under contract, less than two weeks after hitting the market.

Law 36

Law Inventory Real Estate Government 36

Housing Wire

NOVEMBER 15, 2023

Recent events have tarnished that image badly,” said a third Realtor. Real estate professionals should be paid the same way accountants, lawyers and other professionals do…by the hour…and contract,” one agent said. It’s in our rules and in our contracts, and I talk to clients about what it means.” “No

Realtors 468

Realtors Real Estate Agents Real Estate Agent 468

Appraisal Today

OCTOBER 25, 2024

The complaint alleges Mykhailyna used sales from distant, majority-Black areas, ignoring closer sales, and undervalued the property by over $200,000 compared to an appraisal less than a year earlier, despite rising home values. from 0.65 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

Appraisal 84

Appraisal Contracts Real Estate Mortgage 84

Appraisal Today

FEBRUARY 7, 2025

Newz: Waivers Increasing, The New URAR: Markets vs. Neighborhoods, Climate Change and Home Values February 7, 2025 Whats in This Newsletter (In Order, Scroll Down) LIA AD: Should I consider this an actual claim? I have not seen discussions on the future of home values in risky areas. Contract Price = Market Value?

Home Value 53

Home Value Appraisal Contracts Mortgage 53