Housing Wire

MAY 26, 2023

Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud. “We We started to hear a lot about seller impersonation fraud early on in the year,” Tyler Adams, the CEO of CertifID, said. “We Oftentimes this leads to the discovery of vacant lots. million, according to NAR.

Sellers 397

Sellers Real Estate Realtors Real Estate Agent 397

Appraisal Buzz

MAY 20, 2024

As an appraiser, you’re already familiar with buzzwords like seller’s and buyer’s markets. A seller’s market indicates demand is high and inventory is low, while a buyer’s market means inventory is high and demand is low. Navigate a seller’s market by considering the following.

Appraisal 370

Appraisal Marketing Valuation Sellers 370

Housing Wire

JANUARY 9, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. These buyers are primarily local community developers who purchase distressed properties and then resell or rent those properties on the retail market following rehab — a process that typically takes six to 12 months. . Cincinnati and Miami.

Retail 505

Retail Sellers Buyers Market Value 505

Housing Wire

OCTOBER 10, 2023

A Comparative Market Analysis (CMA) is a detailed report that helps real estate agents evaluate and determine the market value of a property. A CMA report includes information on similar, comparable properties in the area, including recent sales, active listings and current market trends.

Marketing 435

Marketing Real Estate Agent Clients Tools 435

Housing Wire

FEBRUARY 21, 2023

High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year. These are market-based decisions.” Kearney’s simple strategy for surviving as a high-volume seller in an environment where demand has dried up: listen to the market and do what it says. “As

Housing Market 397

Housing Market Renovations Marketing Retail 397

Housing Wire

JULY 26, 2024

However, an off-market transaction between family members requires careful planning and transparent communication to avoid misunderstandings and ensure a seamless process. Selling your home to a family member is called a controlled transaction, while selling your home on the open market is referred to as an arm’s length transaction.

Market Value 459

Market Value Real Estate Agent Real Estate Finance 459

Housing Wire

DECEMBER 4, 2020

iBuyer purchase volumes were significantly lower during the third quarter this year than they were pre-pandemic, according to zavvie ‘s inaugural Seller Preference Report. of market value across all markets since then. In Q3, iBuyer purchases dropped 82% year over year. Offer acceptance was at 4.7% the year prior.

Sellers 459

Sellers Market Value Inventory Marketing 459

Cleveland Appraisal Blog

JULY 20, 2022

Appraisal gap clauses have become relatively common in recent years due to many homes being sold at prices that market data does not support as being the market value. In this hot market, it’s not surprising that this type of clause is being written into some contracts. But not always.

Appraisal 397

Appraisal Market Value Contracts Buyers 397

Housing Wire

OCTOBER 12, 2023

When we go through the brokerage valuation process, the product is Fair Market Value (FMV). This is essentially the home price that a willing homebuyer would pay a seller. FMV is based on what we consider neutral terms, where the risk is equally shared between the buyer and the seller. the purchase price).

Sellers 448

Sellers Buyers Brokerage Valuation 448

Cleveland Appraisal Blog

MARCH 30, 2021

This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. People who are willing to spend tens of thousands more than the market will really support, seem to be speculating that things will continue as they are.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Appraisal Buzz

DECEMBER 9, 2024

To effectively support market condition adjustments in line with recent Fannie Mae guidelines, appraisers can use a variety of market analysis techniques. These methods provide a solid foundation for demonstrating how changing market conditions affect property values over time.

Appraisal 358

Appraisal Marketing Valuation Tools 358

Appraisal Buzz

OCTOBER 4, 2024

It might go without saying that a junk-cluttered yard does a home seller no favors—in fact, six in 10 real estate agents estimate that an unkempt front yard decreases a property’s value by 20% or more. What if a neighbor is the clutter-collecting culprit—could the adjacent property take a home-value hit?

Home Value 397

Home Value Real Estate Agent Sellers Real Estate 397

Appraisal Buzz

AUGUST 16, 2021

Trying to meet deadlines, keep my clients informed, and put out a quality product in this busy market is enough to make my head spin. Lately, though, I’ve been trying to carve out some extra time to find out about what other appraisers are saying and doing in this unusual market. But what offer will the seller accept $400,000.

Market Value 448

Market Value Buyers Appraisal Sellers 448

Housing Wire

MAY 21, 2024

Without sales figures, it’s difficult to access comparable sales, and home buyers may find it challenging to gauge the fair market value of a property. Buyers should focus on other factors when estimating a property’s value , such as location, condition of the home, local amenities, and current market trends.

Real Estate Agent 488

Real Estate Agent Real Estate Inspection Valuation 488

Housing Wire

JUNE 25, 2024

Notably, according to the data, around 56% of 55+ home sellers have lived in their homes for 15+ years. Some Americans may not be able to decouple the market value of their home from the sentimental value. The reports also suggests a simplification of the home selling process to limit “unnecessary hassles.”

Real Estate 417

Real Estate Sellers Market Value Buyers 417

Housing Wire

SEPTEMBER 19, 2023

This will help you set a realistic price and manage your sellers’ expectations. For appraisals that are low, a seller may want to get a second appraisal. If the second appraisal comes back higher, buyers and sellers may feel more comfortable meeting in the middle. At this point, an estimated market value is generated.

Real Estate 476

Real Estate Appraisal Agents Inspection 476

Housing Wire

APRIL 19, 2024

Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile. High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market. year over year.

Luxury Properties 488

Luxury Properties New Listings Buyers Housing Market 488

Housing Wire

OCTOBER 24, 2024

Helping the seller understand the true market value of the home given the condition can also be a challenge. After-repair value is the estimated market value of a property in fully repaired condition. Sometimes the seller wants one month rent back. Some of those properties could have gone retail.

Retail 448

Retail Buyers Renovations Finance 448

Cleveland Appraisal Blog

MAY 27, 2021

While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption. While some may be willing to spend more than market value on a home, in many cases, there is a threshold to the amount a buyer is willing to spend on a home.

Market Value 418

Market Value Appraisal Buyers Marketing 418

Housing Wire

NOVEMBER 23, 2021

The MSR sales market is finishing out 2021 at a robust pace that market observers expect will continue into the new year, propelled by a rising-rate environment and anticipated tax-code changes. In early October, HousingWire reported on the details of two other bulk-servicing packages being marketed by Incenter.

Marketing 368

Marketing Mortgage Market Value Sellers 368

Cleveland Appraisal Blog

APRIL 21, 2022

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

Market Value 350

Market Value Appraisal Agents Real Estate Agent 350

Appraisal Buzz

SEPTEMBER 26, 2022

The “official unofficial” government-related loan definition of market value is clear. It says buyer and seller are: Prudent and knowledgeable. Also part of the definition: Reasonable market exposure time. As an appraiser, I had to look at what I had spent a lifetime doing: “Find market value.”

Market Value 321

Market Value Sellers Buyers Finance 321

Cleveland Appraisal Blog

JANUARY 5, 2023

We all needed some rest from the crazy housing market we’ve experienced in recent years. Like most markets across the country, the Cleveland area housing market has been red hot for the past few years. However, the markets have hit an abrupt slow down, or might I say, cool down, kind of like this ice skater experienced.

Housing Market 369

Housing Market Marketing Appraisal Inventory 369

Appraisal Buzz

MARCH 25, 2024

The transaction is a complex interplay between buyer and seller. Imperfect though our efforts may be, we must work to untie the knot of each transaction and of the real estate market as a whole. The representative price of this hypothetical interaction (the product of the synthesis) is known as market value.

Sellers 379

Sellers Appraisal Real Estate Buyers 379

Housing Wire

JUNE 7, 2024

Listings are the life-blood of all successful real estate businesses, but making the leap from working primarily with buyers to working with sellers can be a challenge for many agents early in their careers. You can meet new people anywhere, and you never know who’s thinking about putting their house on the market. Who’s it for?

Real Estate 468

Real Estate Open Houses Agents Sellers 468

Housing Wire

OCTOBER 15, 2020

Homeowners can now get a StreetEasy estimate of their homes’ current market value based on features that are unique to New York City, the company said. Homeowners start by claiming their home, then requesting an AI-powered estimate of their home’s current market value, an estimated price per square foot and monthly rent.

Valuation 370

Valuation Tools Market Value Real Estate 370

Housing Wire

NOVEMBER 5, 2024

Real estate appraisers also rely on MLS data, including information about buyer broker compensation and seller concessions, in order to accurately appraise properties for homebuyers and lenders. Going forward, Telford is expecting even more variation in seller concessions and agent compensation due to the terms of the NAR settlement.

Appraisal 370

Appraisal Business Real Estate Agent Real Estate 370

Housing Wire

JUNE 11, 2021

You can potentially ask the seller to pay for the improvements, or you can ask for a lower sales price to offset the cost of the repairs. A qualified appraiser will compare recent sales of similar local properties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value.

Inspection 459

Inspection Appraisal Appraisal Process Buyers 459

Appraisal Buzz

JUNE 10, 2024

of US home sellers reduced their asking price on average, representing the largest percentage since November 2022. And the average active listing has been on the market for 46 days, up 2.3% Housing Market Highlights: The Four Weeks Ending June 2 The median sale price was $392,200, representing a 4.4% YoY change.

New Listings 397

New Listings Sellers Mortgage Agents 397

Housing Wire

AUGUST 28, 2023

In a shrinking mortgage market, fee pressures are the main challenge for appraisers, according to a new survey from the National Association of Realtors. Appraisers , however, feel AMCs put pressure on the market by taking a increasing cut of appraisal fees. Meanwhile, 39% said they had challenges finding sellers.

Appraisal 370

Appraisal Logistics Valuation Appraisal Process 370

Realtor

SEPTEMBER 19, 2023

That means you get zero say in who’s determining the financial value of the home you’ve lived in, loved, and sunk your savings into. Here are some things sellers can do—straight from the home appraisers’ mouths—to navigate the process of home appraisals. And they won’t be fooled.

Appraisal 194

Appraisal Sellers Real Estate Agent Appraisal Process 194

Housing Wire

JANUARY 13, 2022

enters the third year of the pandemic, the 2022 housing market remains on stable ground. Younger millennials may have also helped as they moved back home during the pandemic at record numbers, thus skipped paying market value rent to a landlord. The event is exclusively for HW+ members , and you can go here to register.

Buyers 488

Buyers Inventory Landlords Housing Market 488

Appraisal Buzz

OCTOBER 25, 2024

of mortgaged residential properties in the US were deemed equity-rich in Q3, which means that the total estimated amount of loan balances secured by those properties was no more than half of their estimated market values. property Seller Profit Margins Fall Slightly Across U.S. From a recent peak of 49.2% Compared to the 2.4%

Market Value 394

Market Value Housing Market Mortgage Marketing 394

McKissock

DECEMBER 14, 2021

Property appraisers don’t dictate what the value is. We merely research and analyze market data to interpret and then report what the market says the value is. ” He went on to explain how the market had said that, placing all the blame on that darned old market.

Market Value 80

Market Value Marketing Property Appraisal Appraisal 80

Housing Wire

FEBRUARY 7, 2023

The year ahead for the mortgage-servicing rights market is shaping up to be a lucrative play for investors, lenders and others looking to purchase MSR assets. Independent mortgage banks (IMBs) leaning on MSR sales, however, now face a supply-demand imbalance, market observers say. These differences can cause volatile MSR values.

Sellers 321

Sellers Investors Valuation Finance 321

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. The seller will probably never know.

Appraisal 418

Appraisal Market Value Contracts Agents 418

Realtor

MAY 17, 2023

As a seller, here’s what you need to know about the settlement process. If the appraisal comes in higher than the sales price, then the buyers can relax in the satisfaction they’ve purchased a home for less than its market value. Once the contract has been signed, a seller can’t renegotiate the price higher.

Sellers 142

Sellers Inspection Contracts Property Taxes 142