Housing Wire

NOVEMBER 22, 2024

What’s more, operating costs for apartment and SFR (single-family rental) operators are up significantly since 2019 due to higher property taxes, insurance, and payroll costs. That’s a factor too of higher inventory.” Meaning that margins are being aggressively compressed.

Marketing 370

Marketing Housing Market Property Taxes Construction 370

Housing Wire

MAY 8, 2023

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

Inventory 435

Inventory Renovations Supply Chain Buyers 435

Housing Wire

SEPTEMBER 11, 2024

Other holding costs for real estate include taxes and insurance. According to S&P Global, insurance premiums increased nationally by 34% between 2017 and 2023, with even more increases hitting homeowners in 2024. In particular, insurance can be a significant portion of monthly payments.

Mortgage 468

Mortgage Insurance Inventory Buyers 468

Housing Wire

JULY 23, 2024

In spite of rapidly rising inventory, high prices and mortgage rates are still keeping buyers at bay. “They’re backing out due to minor issues because the monthly costs associated with buying a home today are just too high to rationalize not getting everything on their must-have list.”

Buyers 459

Buyers HOA Property Taxes Inspection 459

Housing Wire

OCTOBER 10, 2024

As of this week, the death toll has surpassed 230 and thousands of homes, many without flood insurance , have been destroyed. Insurance and inventory An alarming statistic is that most homeowners in these areas are not insured by the private insurance market or by the National Flood Insurance Program (NFIP).

Insurance 375

Insurance Inventory Property Taxes New Listings 375

Housing Wire

OCTOBER 21, 2024

Yet ‘renting by choice’ is also on the rise as it offers flexibility, less financial commitment, and freedom from the burdens of property taxes, maintenance, and insurance. In Florida, rising insurance premiums tied to natural disasters like hurricanes can make homeownership more of a liability than an asset.

Real Estate 493

Real Estate Marketing Insurance Property Taxes 493

Housing Wire

SEPTEMBER 5, 2024

Housing markets across the country have stalled due to elevated mortgage rates and limited for-sale inventory , but some counties are at risk of a more dramatic downturn. Homeownership costs like mortgage payments, property taxes and insurance were compared to local income levels. Richmond, Virginia; and Nashville.

Property Taxes 448

Property Taxes Housing Market Insurance Inventory 448

Housing Wire

APRIL 29, 2024

The bearish take is that there are many more sellers than buyers and inventory is rising. Housing inventory There are now 556,000 single-family homes on the market. from last week, with slightly more than 13,000 additional properties on the market now than a week ago. Rates are higher now, so unsold inventory is higher.

Sellers 508

Sellers Marketing Inventory Contracts 508

Appraisal Buzz

JULY 1, 2024

Thankfully, the study found that some relief is in sight as rent growth is slowing due to a surge in new family rental units, and for-sale inventories are growing due to the increase in single-family construction. nationwide average increase in owners’ insurance premiums. Add on to this low existing for-sale inventories, with just 1.1

Construction 415

Construction Inventory Property Taxes Insurance 415

Housing Wire

JUNE 17, 2024

It assumed a 10% down payment and did not factor in property taxes or homeowners insurance. Though today’s housing market is not the least affordable in history, it is the least affordable in 40 years and suffers from low inventory levels,” Hannah Jones, senior economic analyst at Realtor.com, said in the report.

Housing Market 497

Housing Market Property Taxes Inventory Buyers 497

Housing Wire

JUNE 25, 2024

But Altos data also shows that a large share of homes (36.9%) include cuts to the original list price, a sign that inventory is rising and sellers are having a more difficult time locating a buyer. Slightly more inventory and weaker demand mean price reductions climb and more sellers each week that have to cut their asking prices.

Mortgage 418

Mortgage Marketing Property Taxes Sellers 418

Housing Wire

MARCH 10, 2022

On top of all that, since inventory is at all-time lows, it’s been harder and harder for first-time homebuyers to win some bids because they don’t have more money to bring into the bidding process. Yes, your property tax or insurance might go up, but the mortgage payment is generally fixed.

Inventory 543

Inventory Property Taxes Mortgage Insurance 543

Housing Wire

FEBRUARY 15, 2024

For that group, the median monthly cost of owning a home — which includes insurance and property taxes, among other things — is just over $600 (similar to the monthly cost for other generations with no outstanding mortgage, but other generations are far less likely to own homes free and clear),” the report stated.

Property Taxes 488

Property Taxes Insurance Construction Inventory 488

Housing Wire

JULY 24, 2024

Caruso said this is indicative of the markets in Indiana, where low inventory, high interest rates and inflationary pressure are still making it hard for clients to find — and afford — a home to buy. Their car insurance is about 40% cheaper because Indiana is a no-fault state. Property taxes are about the same.

Marketing 448

Marketing Realtors Buyers Property Taxes 448

Housing Wire

APRIL 11, 2022

On top of all that, since inventory is at all-time lows, it’s been harder and harder for first-time homebuyers to win some bids because they don’t have more money to bring into the bidding process. Yes, your property tax or insurance might go up, but the mortgage payment is generally fixed.

Inventory 418

Inventory Property Taxes Mortgage Insurance 418

Appraisal Buzz

JULY 10, 2024

Increasing Costs are Taking a Toll on Homeowners’ Personal Finances Many home seekers have revised their budgets and savings goals in light of decreased inventory levels in a number of cities. Cost hikes for utilities (83%), house insurance (81%), property taxes (81%) and repairs (74%), according to homeowners, have been experienced.

Property Taxes 367

Property Taxes Finance Lending Housing Market 367

Housing Wire

MAY 25, 2023

Today’s market includes mortgage rates of above 6%, low inventory and elevated home prices, all contributing to affordability problems. The big difference is that monthly mortgage payments are optional so long as the borrower continues to maintain the home and pay their property taxes and insurance,” Cooper said.

Loan Officers 418

Loan Officers Real Estate Agent Real Estate Finance 418

Housing Wire

AUGUST 24, 2023

At today’s rate, the monthly cost to purchase a home totals about $2,400, not including property taxes and insurance, a 17% increase from a year ago. In July, 26% of existing homes sold to cash buyers while 7% of new homes sold to cash buyers. For a majority of people, buying a home still means borrowing money.

Mortgage 370

Mortgage Property Taxes Investors Buyers 370

Housing Wire

DECEMBER 6, 2024

” “From Primary Residence to Rental: Your Conversion Guide” Maintenance & homeownership “Your [Season] Home Maintenance Guide” “Smart Home Upgrades That Actually Save You Money” “The Ultimate Guide to Choosing Home Insurance” “DIY or Call a Pro?

Real Estate 397

Real Estate Clients Tools Sellers 397

Housing Wire

FEBRUARY 21, 2023

We’re just trying to move inventory quickly,” said Lee Kearney, a Tampa, Florida-based real estate investor who has an inventory of between 15 and 20 homes for sale at any given time. “If High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year.

Housing Market 397

Housing Market Renovations Marketing Retail 397

Appraisal Buzz

MAY 20, 2024

Higher unemployment, lower personal savings, increases in property taxes and insurance, and a run-up in credit card debt and delinquency contributed to conditions that would make it tougher for some homeowners to make their mortgage payments.” “At

Mortgage 195

Mortgage Property Taxes Insurance Inventory 195

Housing Wire

AUGUST 10, 2023

The share of distressed property auction buyers who say they are owner-occupants nearly doubled over the last year, boosted by a game-changing government policy that took effect last August. Auction.com implemented the first look auctions for FHA-insured properties in August 2022 and saw an immediate impact: from nothing to 8.2%

Renovations 370

Renovations Buyers Development Insurance 370

Appraisal Buzz

OCTOBER 3, 2024

Over the last year, all property types and all areas have seen a decrease in the turnover rate, with condos and townhouses experiencing the largest drops overall. This is because, when HOA and insurance prices rose, condo sales declined and the nation’s inventory of units expanded.

HOA 397

HOA Property Taxes Advertising Real Estate Agent 397

Housing Wire

JANUARY 9, 2023

Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers.

Housing Market 545

Housing Market Marketing Construction Development 545

Miller Samuel

MARCH 19, 2019

Much of this speculation is being driven by two factors: sparse supply, due to the absorption of the inventory left over from the last boom, and fast-rising prices. And it is a marginal rate tax - only the amount above each threshold is taxed. As an annual property tax, the dollar thresholds will be more firm.

Real Estate 370

Real Estate Law Development Investors 370

Housing Wire

JANUARY 19, 2025

The home insurance crisis has entered a new phase Climate change has forced home insurance companies to retreat from areas that are increasingly prone to natural disasters, and California is chief among them because of the risk of wildfires. This will force homeowners to either pay more monthly or go without insurance.

Property Taxes 397

Property Taxes Insurance Valuation Transportation 397

Eppraisal

APRIL 27, 2021

If you've been able to save for a larger down payment, you may qualify for a lower interest rate and you won't have to pay private mortgage insurance (PMI) if you're able to put 20% down on a conventional loan. According to an article on Zillow.com, you also receive tax deductions such as your mortgage interest and your property taxes.

Property Taxes 50

Property Taxes Home Value Landlords Insurance 50

Eppraisal

SEPTEMBER 29, 2023

On the buying side, this includes mortgage payments, property taxes, homeowner's insurance, and maintenance expenses. For renting, factor in the monthly rent and renter's insurance. Look at trends in home prices, rental rates, and the availability of properties.

Marketing 36

Marketing Property Taxes Real Estate Insurance 36

PennyMac

AUGUST 14, 2024

Cons: Potential for Dual Mortgages: If your current home doesn’t sell quickly, you might end up juggling two mortgages, along with other costs like utilities, taxes, homeowners association (HOA) fees and insurance. turn your home into a rental property)? Calculate the Costs Determine the total monthly cost for both mortgages.

Real Estate Agent 47

Real Estate Agent HOA Finance Real Estate 47

Appraisal Today

SEPTEMBER 22, 2023

At the current mortgage rate, and with a 20% down payment, homes priced at $250,000 will have a typical monthly payment of around $1,358, before property taxes and home insurance costs. Home prices in many markets have been supported by low inventory and resilient housing demand for available homes.”

Appraisal 86

Appraisal Training Inspection Real Estate 86

PennyMac

JANUARY 3, 2024

With a VA loan, there are: No down payment on home purchase loans* Lower closing cost limits Lower interest rates Relaxed credit requirements No monthly mortgage insurance premiums Already have a VA loan for your first home? If it’s a seller’s market now, you might encounter tight inventory. Your financial situation.

Real Estate Agent 36

Real Estate Agent Buyers Real Estate Mortgage 36

Will Springer Realtor

FEBRUARY 9, 2022

People are looking at higher prices, there’s slim pickings in inventory and now we have higher mortgage rates.”. Inventory remains a big concern. months of single-family-home inventory in King County and on the Eastside, and 0.5 months (6 days) of single-family inventory. months (6 days) of single-family inventory.

Buyers 36

Buyers Inventory Law Development 36

Will Springer Realtor

NOVEMBER 12, 2021

are 64% more expensive now than in 2016 and are reduced in number by more than half today: “I expect the inventory of starter homes to remain extremely tight, especially in desirable smaller markets,” Ali Wolf, chief economist at the building consultancy Zonda, told realtor.com. months of inventory in King, down from 0.7 in September.

Law 36

Law Inventory Real Estate Government 36

Appraisal Buzz

OCTOBER 28, 2024

Mortgage rates at this level should support homebuyer demand and gradually reduce the lock-in effect, thereby increasing the inventory of existing homes and supporting higher purchase origination volume in 2025.” The advance seasonally adjusted insured unemployment rate was 1.3% “We are bullish about the spring 2025 housing market.

Property Taxes 409

Property Taxes Insurance HOA Inventory 409

Housing Wire

NOVEMBER 11, 2024

In order of least to most impactful, the 2025 list includes the price expectations gap, office vacancies and the tax base, sustainability, artificial intelligence, housing attainability, insurance costs, geopolitics and regional wars, loan maturities and debt repricing, the cost of financing and global and U.S. DellaPelle posited.

Real Estate 418

Real Estate Insurance Supply Chain Buyers 418

Housing Wire

FEBRUARY 19, 2025

Discuss pricing and inventory trends: After you go over how you determine FMV, go over the latest local trends in home prices, days on market, available inventory. Review comparable sales: Show your clients how a comparative market analysis (CMA) will be used to help them make an offer and determine the fair market value (FMV).

Inspection 228

Inspection Clients Buyers Real Estate 228

Will Springer Realtor

MARCH 11, 2024

The soaring prices of insurance and energy have dealt a two-pronged blow to homeowners’ wallets, with no relief in sight. Nationwide, home insurance premiums have surged by an average of 21% year-on-year, as of May 2023, equating to an annual increase of $244 per household. Good things come to those who wait!

Insurance 36

Insurance Sellers Real Estate Buyers 36