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With record-low interest rates, paltry inventory and a surge in buyers, agents are advising clients to be extraordinarily aggressive to win. We have about two months of inventory and the buyer demand is just crazy.” of offers, followed by townhomes at 54.7% and condos at 41.3% – 54.5% of offers overall engaged in bidding wars.
At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage. A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgageappraisals – as well as the time it will take for a transaction to close.
“Mortgage rates are expected to rise, but still remain attractive and reasonable. The unprecedented buyer demand of 2021 will likely be suppressed to some extent due to affordability concerns in some markets, and more housing inventory will most likely be available from both the existing homes and new construction segments.”.
One example is that mortgageappraisal work allows an appraiser to say: “I’m appraising it as repaired,” which is acceptable in some mortgage assignments. Most borrowers have lower rates on their mortgages, and those who are in the market are extremely rate sensitive.” You need to educate yourself.
For-sale inventory has started to loosen, and home-price growth has eased in some markets, providing more options for buyers in combination with these lower rates.” The refinance share of mortgage activity decreased to 45.7 Purchase applications continued to run stronger than last year’s pace for the fifth consecutive week.
CDEI, MNAA Excerpts: Typically, this time starts when the comparable goes under contract, then ends on the effective date of the appraisal. . March 28, 2025 Whats in This Newsletter (In Order, Scroll Down) LIA ad: Navigating Value Revisions On Time Adjustments By Timothy Andersen, MAI 19.5
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