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Home seller concessions reach pre-pandemic levels

Housing Wire

In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. In Q4 of 2022, 22% of Redfin’s home sales included a concession and lower listing price, while 19% included both a concession and a listing-price cut while the home was on the market. Pandemic boomtowns see a rise in concessions.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

For real estate professionals, this option presents an opportunity to capture more sales. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). Yet staggeringly few are aware of its existence. What is reverse purchase financing?

Finance 428
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Will new products stop the bleeding for mortgage lenders? 

Housing Wire

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. Homepoint is in a tough spot. We’re not afraid to get smaller as an organization.” Homepoint is hardly alone.

Mortgages 388
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A top agent’s take on 2023 housing trends

Real Trends

If the interest rates do drop and get closer to 5%, agents can expect a mini-boom in which the low rates will re-inspire housing demand significantly and boost overall sales. Today’s homebuyers and sellers have genuine real estate needs such as death, divorce, illness, relocation and job loss, to name a few.

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Your Dream Home Appraised Lower than Your Offer: Now What?

HomeLight

When the appraisal comes in lower than your offer price, it’s either an opportunity for you to renegotiate the sales price with the seller — or it’s going to completely derail your home sale, and you’ll have to start over again. Table of Contents. What is an appraisal and how does it work? How common are low appraisals?

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Can You Sell a Home in Foreclosure? Why Time Is of the Essence

HomeLight

The best advice I can give to sellers facing foreclosure is don’t wait till the last minute. “The The best advice I can give to sellers facing foreclosure is don’t wait till the last minute. Don’t let any stigma keep you from making wise financial decisions about the sale of your home. Can I still sell my home?

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New Study Finds Seller’s Market May Shift in 2021

Realty Biz

Great news for homeowners in terms of increased home equity (an average gain of $26,300 per homeowner), not great for affordability, particularly for first-time homebuyers who typically look to buy at the lower end of the market, where current inventory is the most limited. . inches its way toward recovery. . by the end of 2021. .