Remove Definition Remove Inspection Remove Sellers
article thumbnail

Market Correction or Seller Panic?

Appraisal Buzz

This might manifest itself with lower offers that are acceptable to the seller, but price isn’t the only aspect of a transaction. Anecdotally, sellers are worried that the threat of increasing interest rates with continue to erode buying power which will have a negative effect on their sale price now and especially in the future.

Sellers 436
article thumbnail

Selling your home? Make sure you’re aware of hidden costs

Housing Wire

While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one. From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. To attract potential buyers, sellers have to make sure their home is aesthetically pleasing.

Sellers 545
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FHA responds to Helene, Milton by issuing temporary waivers to rehab loan program

Housing Wire

FHA believes a temporary waiver of its definition of ‘major repair’ related to the 15 days (or 30 days after November 4, 2024) needed for repair completion is crucial“ for ensuring that homeowners in these presidentially declared major disaster areas (PDMDAs) can rebuild.

article thumbnail

Inventory of existing homes hits highest level since early in the pandemic

Housing Wire

“We’re seeing a slow shift from a seller’s market to a buyer’s market,” NAR chief economist Lawrence Yun said in a statement. Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. The yearly regional trends don’t differ much from the national one.

Inventory 439
article thumbnail

Existing Sales Drop as Median Home Price Jumps to Record High

Appraisal Buzz

“We’re seeing a slow shift from a seller’s market to a buyer’s market,” said Lawrence Yun, Chief Economist at NAR. Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.”

Inventory 396
article thumbnail

A homebuyer’s personal story from the post-Sitzer, post-settlement world

Housing Wire

Having spent the past several months covering the NAR settlement and the business practice changes outlined within, I was curious about how listing agents and sellers in my market were handling offers of buyer broker compensation. I grew up in an 1850s farmhouse and was not going to skip an inspection or an appraisal contingency.

Agents 409
article thumbnail

9 tips for homebuyers in non-disclosure states

Housing Wire

While these online tools aren’t a definitive statement of a home’s value, they can be a great starting point, especially when combined with other data like a home’s list price, square footage, number of bedrooms and baths, property tax history, and any price reductions. Be patient and stay flexible as challenges arise.