Housing Wire

JANUARY 17, 2024

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! Yet staggeringly few are aware of its existence.

Finance 453

Finance Seller concession Loan Officer Loans 453

Broke Agent Media

MAY 31, 2023

of home sales during the three months ending April 30 involved seller concessions—just under February’s record high of 45.6% While sellers in some parts of the U.S. are offering freebies to attract buyers, thanks to the dampening effect of high mortgage rates, sellers in markets with severe housing shortages don’t need to.

Seller concession 52

Seller concession Closing costs Sales Mortgages 52

Maximum Exposure Real Estate

JUNE 7, 2021

Everything You Need to Know About Seller’s Concessions Have you heard a real estate agent using the term “seller’s concessions” and wondered what it meant? Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price.

Seller concession 144

Seller concession Closing costs Finance Closing 144

Housing Wire

NOVEMBER 7, 2023

Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

VA loan 454

VA loan Agents Seller concession FHA loan 454

Housing Wire

NOVEMBER 16, 2022

UWM is also launching a lender-paid version as an alternative to the sellers-paid product, the company announced on Wednesday. With the seller-paid version, seller concessions, which are closing costs the seller agrees to pay, are deposited as a lump sum into the buydown account. Presented by: Flagstar.

Seller concession 383

Seller concession Mortgages Fixed-rate mortgage Loans 383

Housing Wire

JUNE 10, 2021

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. According to HomeAdvisor , the average seller pays almost $1,500 in staging costs. Bottom Line.

Seller concession 546

Seller concession Closing costs Staging Inspection 546

Housing Wire

NOVEMBER 23, 2022

What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. If the process is explained correctly to both parties, sellers and buyers will enjoy seeing each other win and accomplish the goals each party has,” Miller said. “It in the second year.

Marketing 469

Marketing Loan Officer Seller concession Loans 469

Housing Wire

APRIL 12, 2023

None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. About 19.4% About 19.4%

Mortgages 374

Mortgages Loan Officer Marketing Seller concession 374

Housing Wire

APRIL 8, 2024

to 2,058 loans in March, an increase helped by new case numbers and slightly telegraphed by recent industry sentiments, according to data compiled by Reverse Market Insight (RMI). Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% The end of 2023 was very weak on this measure, so good to see some recovery signs here,” he said.

Mortgages 414

Mortgages Seller concession Loans Equity 414

Housing Wire

MARCH 6, 2024

to 1,900 loans in February, a drop telegraphed by lagging case numbers and sluggish endorsement activity in January, according to data compiled by Reverse Market Insight (RMI). There may also be some easy, repeatable practices you can take from higher-volume regions that haven’t been fully explored in smaller markets yet.

Mortgages 415

Mortgages Seller concession Principal Loans 415

Lighter Side of Real Estate

JANUARY 11, 2023

A five percent bump might not seem all that great, but if you’ve been thinking about buying, that could be the sign you’ve been waiting to see in the market. Not only are lower prices a good reason to buy now, according to this Real Deal article , sellers gave buyers concessions in 41.9 There’s less competition.

Seller concession 73

Seller concession Closing costs Inspection Mortgages 73

Realty Biz

JULY 6, 2023

Two common strategies sellers use to entice potential buyers are offering a closing cost credit or a price reduction. What Is a Seller Credit? A seller credit, or a closing cost credit, is an agreement where the seller agrees to pay a portion of the buyer's closing costs. Let's take a look.

Closing costs 86

Closing costs Closing Purchase and sale agreement Seller concession 86

Housing Wire

NOVEMBER 16, 2022

For a 3-2-1 rate buydown, the seller contributes a lump sum at closing, which is put in the buyer’s escrow account. By adding the buydown feature to our Smart Series, we feel that we’re expanding our ability to help potential buyers and sellers come together.”. Caliber was acquired by NewRez in a deal closed in August 2021.)

Seller concession 378

Seller concession Mortgages Lending Loans 378

Housing Wire

JUNE 6, 2023

Understanding the borrower Randy Kaufman, a senior loan originator at Notre Dame Federal Credit Union , offered his client the option to float his rate for a transaction that is set to close at the end of June. Being conservative never hurts and being strategic about the market is important, Jared Sawyer, a sales manager at loanDepot , said.

Loan Officer 383

Loan Officer Loans Seller concession Pre-approval 383

Housing Wire

OCTOBER 16, 2023

However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%. One of the primary reasons for this surge is the strong presence of millennials in the housing market, particularly those at the peak, around ages 33 and 34.

Agents 406

Agents Seller concession Closing costs Mortgages 406

HomeLight

FEBRUARY 16, 2024

You’re told that the seller is receiving multiple offers, but some have attached contingencies — conditions the other buyers have included in their offers. From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get Started 1.

Pre-qualification 93

Pre-qualification Seller concession Pre-approval Closing costs 93

Housing Wire

FEBRUARY 9, 2021

A homebuyer’s guide to a competitive housing market. There’s a chance they may be willing to accept a lower offer on the home — especially if they’ve already moved out, bought another property or it’s a buyer’s market and there’s little demand for the property. Ask for seller concessions to make up for the increased price.

Earnest money deposit 454

Earnest money deposit Seller concession Loans Lending 454

Easy Agent Pro

SEPTEMBER 5, 2023

In today’s competitive real estate market , bidding wars have become common. Here, we’ll explore several novel yet effective ways of outwitting competition and increasing your chances of successful bidding in competitive markets. Start by researching the current market conditions where you intend to buy a property.

Earnest money deposit 76

Earnest money deposit Seller concession Purchase and sale agreement Pre-approval 76

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. So if your home sells for $450,000, you could spend anywhere between $27,000 to $45,000 in seller fees. Typical seller closing costs. Should you consider it?

Closing costs 75

Closing costs Closing Seller concession Purchase and sale agreement 75

HomeLight

MARCH 5, 2024

For many, the solution lies in a “seller assist.” But what exactly is a seller assist when buying a house, and how can it help clear the path on your homebuying journey? In this post, we’ll provide clear insights and examples to help you decide if requesting a seller assist is the right strategy for your home purchase.

Seller concession 67

Seller concession Closing costs Title Closing 67

Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid.

Closing costs 52

Closing costs Closing Purchase and sale agreement Seller concession 52

Housing Wire

OCTOBER 27, 2022

The 30-year fixed-rate mortgage broke 7% for the first time since April 2002, leading to greater stagnation in the housing market,” Sam Khater, Freddie Mac’s chief economist, said in a statement. Searching for new options. Temporary rate buydowns are not new, but tend to receive more attention when rates surge, according to industry experts.

Mortgages 382

Mortgages Fixed-rate mortgage Loan Officer Seller concession 382

Housing Wire

AUGUST 25, 2022

Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. But the reality is Homepoint – like some of its peers – is going to lose market share as it attempts to right the ship. Homepoint is in a tough spot. Homepoint is hardly alone.

Mortgages 395

Mortgages Equity Loans Seller concession 395

The Close

FEBRUARY 20, 2024

In real estate, the market is tied to the basic economic rule of supply and demand, which determines if a market is a buyer’s market vs seller’s market. Sure, certain seasons might have more foot traffic than others, but the housing market could vary drastically from neighborhood to neighborhood.

Marketing 91

Marketing Debt-to-income ratio MLS Pre-approval 91

HomeLight

NOVEMBER 10, 2021

When you sell your house without the help of a real estate agent, you’ll save money on commission fees but won’t escape closing costs entirely. The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. Source: (Shot by Cerqueira / Unsplash).

Closing costs 99

Closing costs Closing Title Title search 99

The Close

DECEMBER 14, 2023

Gross commission income (GCI) is the full amount of money a real estate agent may receive in exchange for representing a buyer, seller, or both in a real estate transaction. Say you’ve got a seller concession of 2% of the sale price to cover the cost of some repairs. What Is Gross Commission Income?

Agents 94

Agents Seller concession Brokerage Closing 94

HomeLight

APRIL 29, 2021

As a seller, your home sale price and proceeds are very different numbers. You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. So, what are closing costs in Delaware? In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs.

Closing costs 61

Closing costs Closing Seller concession Homeowner’s association 61

Realtor.com

DECEMBER 1, 2022

Getty Images As the housing market barrels toward the end of the year and all of its holiday trimmings, potential homebuyers are likely wondering what’s in store for the coming season. Homes are simply sitting—and sitting —on the market, ballooning the total number of homes for sale. Inventory is soaring, but is that good news?

Mortgages 120

Mortgages Seller concession Closing costs Sales 120

HomeLight

SEPTEMBER 14, 2022

When home prices and mortgage rates fluctuate it can make your head spin, especially if you need to sell a house in a down market. To help you navigate a shifting housing market, we spoke with real estate agent Mari Slobounov, who is a business partner with the top-producing Lynn Holley Real Estate Group in Madison, Wisconsin.

Marketing 107

Marketing Inspection Staging Seller concession 107

Real Trends

JULY 11, 2022

The real estate market is red hot, and with prices to match, you’ll need to provide concrete support for any offer that is made. This is the traditional strategy, but in some cases their dollars can go further if they look in different areas that are close to their desired location. Comparable properties. Education here is key.

Seller concession 79

Seller concession Closing costs Inspection Title search 79

Redfin

MARCH 3, 2022

Once your offer has been accepted, the excitement kicks in, and the countdown to closing begins. But before you can get your keys, you’ll want to be cautious of any roadblocks or setbacks that could cause a delayed closing and postpone your move-in date. So how can you avoid a delayed closing? What does delayed closing mean?

Closing 62

Closing Title search Purchase and sale agreement Title 62

Real Trends

OCTOBER 16, 2023

However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%. One of the primary reasons for this surge is the strong presence of millennials in the housing market, particularly those at the peak, around ages 33 and 34.

Agents 99

Agents Seller concession Closing costs Mortgages 99

Real Trends

JANUARY 2, 2023

Real estate is a roller coaster for most agents: tough market conditions, personnel issues and fierce competition can leave any agent or other entrepreneur feeling defeated. Struggling agents may try to partner up and deliver better value to their clients to remain competitive in this tech-focused market. What’s ahead in 2023.

Seller concession 99

Seller concession Agents Mortgages Equity 99

Realty Biz

DECEMBER 5, 2022

The crazy hot seller's market forced many home buyers into forgoing their inspection. Things are starting to change in many real estate markets around the country. Things are starting to change in many real estate markets around the country. Having the estimates will help justify what you'll be asking for as a concession.

Inspection 137

Inspection Earnest money deposit Purchase and sale agreement Inspection contingency 137

Realty Biz

MARCH 27, 2022

If you are trying to buy a home in a seller’s market, offering the asking price may not be enough. With more competition from buyers, the seller has more options, and you will need to do more to get the house you want. Sellers are in the driver’s seat, and they know it.

Purchase and sale agreement 116

Purchase and sale agreement Earnest money deposit Seller concession Finance 116

Housing Wire

MARCH 22, 2024

Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I There is also some pent-up desire to sell being released by a steadier interest rate environment and an overall slower market.

Marketing 414

Marketing Seller concession Due diligence Days on market 414

Redfin

JULY 26, 2021

The housing market can vary day-to-day due to local factors such as supply and demand in your area and larger macro-economic factors such as how the U.S. This can be determined by having a comparative market analysis (CMA) completed on your home. . Of course, every situation is unique, and your costs will vary. economy is doing.

Seller concession 70

Seller concession Closing costs Inspection Staging 70