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 438

Finance Seller concession Loan Officer Loans 438

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

Housing Wire

MAY 14, 2024

We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. More than 80% of recent buyers asked for at least one seller concession. A report released this week by St. Among this group, about one in four agreed to purchase their home “as is.”

Seller concession 415

Seller concession Agents Brokerage Mortgages 415

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? The post Seller’s Concessions: What is a Seller Concession and How Do They Work appeared first on Massachusetts Real Estate Exposure.

Seller concession 141

Seller concession Closing costs Finance Closing 141

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 381

Seller concession Mortgages Fixed-rate mortgage Loans 381

Housing Wire

MARCH 25, 2024

While this may be similar to how agents in some MLSs note that sellers are willing to provide concessions, Papasan made it clear that seller concessions and commissions are not the same thing. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Purchase and sale agreement 405

Purchase and sale agreement Agents Seller concession MLS 405

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

APRIL 12, 2023

LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. Economic and Housing Market Outlook Amid the Federal Reserve ‘s efforts to tame inflation, 44.5% About 19.4% About 19.4% Lead generation ranked as the third biggest hurdle at 15.5%

Mortgages 329

Mortgages Loan Officer Marketing Seller concession 329

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 447

VA loan Agents Seller concession FHA loan 447

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 464

Marketing Loan Officer Seller concession Loans 464

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 372

Mortgages Seller concession Loans Equity 372

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 72

Seller concession Closing costs Inspection Mortgages 72

Housing Wire

JANUARY 25, 2023

The company notified its clients earlier this month that based on the S&P CoreLogic Case-Shiller US National Home Price NSA Index’s projected decline, the housing market has fallen out of favor with Goldman Sachs. The company is eyeing the San Jose, Austin, Phoenix, and San Diego markets in particular.

Seller concession 391

Seller concession Investor Mortgages Land 391

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 368

Mortgages Seller concession Principal Loans 368

Housing Wire

AUGUST 24, 2022

Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market. Last week, it launched temporary rate buydowns , allowing borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. .

Seller concession 376

Seller concession Equity Loans Mortgages 376

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.”.

Seller concession 350

Seller concession Mortgages Lending Loans 350

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 398

Agents Seller concession Closing costs Mortgages 398

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. It not only demonstrates to sellers that you’re financially prepared but also accelerates the purchase process once you’ve found the perfect home. Get Started 1.

Pre-qualification 90

Pre-qualification Seller concession Pre-approval Closing costs 90

Broke Agent Media

MARCH 28, 2023

metros with housing markets that have cooled down the fastest from February 2022 to February 2023. Housing markets in tech hubs and pandemic hotspots are cooling the fastest this year, while markets in Connecticut, New York and areas in the Midwest are holding up the best. Is your market heating up or slowing down this spring?

Seller concession 98

Seller concession Marketing Sales Industrial 98

Housing Wire

JUNE 6, 2023

Being conservative never hurts and being strategic about the market is important, Jared Sawyer, a sales manager at loanDepot , said. Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. With rates around 6.9% versus a 6.5%

Loan Officer 382

Loan Officer Loans Seller concession Pre-approval 382

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 450

Earnest money deposit Seller concession Loans Lending 450

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

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

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 391

Mortgages Equity Loans Seller concession 391

Broke Agent Media

MARCH 18, 2023

There’s an immense amount of real estate news and data to sift through every week—not to mention the trends that are happening in your local market. That’s why BAM started the Hot Sheet —to break down the last 24 hours’ worth of news in the industry every morning the markets are open. I don’t think this is good for America.

Seller concession 98

Seller concession Banks Mortgages Industrial 98

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

Broke Agent Media

MARCH 20, 2023

BAM Key Details: Realtor.com’s data team pulled data to analyze the best metro areas for buyers and sellers in today’s market. The top 10 markets for buyers all experienced an increase in active listings year-over-year. The top 10 markets for sellers have all seen an increase in price per square foot year-over-year.

Marketing 98

Marketing Seller concession Industrial Agents 98

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 369

Mortgages Fixed-rate mortgage Loan Officer Seller concession 369

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. Often these terms are used interchangeably.

Closing costs 86

Closing costs Closing Purchase and sale agreement Seller concession 86

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

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 105

Marketing Inspection Staging Seller concession 105

HomeLight

NOVEMBER 1, 2021

And if you do, what are the downsides to paying for the buyer’s closing costs as the seller? To explore the potential drawbacks of paying for buyer closing costs as the seller, we spoke with Tara Limbird , an Arkansas-based agent who heads a team of real estate pros that was nationally ranked at the top one half of 1% of Realtors®.

Closing costs 73

Closing costs Closing Seller concession Purchase and sale agreement 73

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

Realty Biz

MAY 20, 2021

The phrase “record breaking” is everywhere at the moment, from major companies reporting record-breaking returns to market experts who predict a record-breaking post-pandemic economic boom. . Although the housing market took a record-breaking nosedive in 2020, there’s light on the horizon as the U.S. One year into the pandemic.

Marketing 78

Marketing Seller concession Fixed-rate mortgage Mortgages 78

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

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

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