Home sale prices reach record highs — again

Housing Wire

The effects of low housing inventory continue to cause significant ripples in the housing market, as a recent Redfin report shows home sale prices across the country have reached an average of $344,625 — an all-time high, and an 18% increase year over year.

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Purchase market will highlight closing process problems

Housing Wire

The closing process, that time between underwriting approval and the actual closing, is the mortgage industry’s not-so-secret Achilles’ heel. That’s not a knock on the good professionals who enact minor miracles choreographing the multi-faceted ballet that is a typical closing.

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Existing home sales are still too hot

Housing Wire

The National Association of Realtors reported that existing home sales for January were at 6,669,000, which beat estimates. The median sales price also jumped 14.1% The chart below shows the 10-year yield as of the close of Thursday. If existing home sales stay above 6.2

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Millennials are driving US home sales

Housing Wire

Existing home sales rose for the second consecutive month , as January saw a seasonally-adjusted annual rate of 6.69 Sales easily could have been even 20% higher if there had been more inventory and more choices,” Yun said. Yun predicts existing-home sales will reach at least 6.5

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New home sales juggernaut continues

Housing Wire

Sales of new homes rose to an annualized rate of 999,000 in October – 0.3% With October’s data in, new home sales have had the strongest three-month stretch since mid-2006, with each month falling just short of 1 million. months at the current sales rate.

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Pending home sales rebound in March

Housing Wire

The trade group reported that pending home sales – that is homes where a buyer signed a contract, but the sale has not closed – rose 1.9 % index points to 111.3 By coincidence,” the NAR explained, “The volume of existing homes sales in 2001 fell within the range of 5 to 5.5

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Pending home sales continue to slip as 2021 approaches

Housing Wire

pending home sales slid for the third consecutive month in November, dropping 2.6% “It is important to keep in mind that the current sales and prices are far stronger than a year ago.” New home sales and existing home sales both also ticked down last month.

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Average home sale price hits all-time record

Housing Wire

The median home sale price increased 16% year-over-year to $331,590 – an all-time high, per a report this week from Redfin. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased to 100.2%.

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The ugly side of housing: low inventory

Housing Wire

The NAR’s pending home sale index managed to fall below 100 in the Northeast (92.3) An index of 100 is equivalent to the level of pending sales in 2001. Although existing home sales dipped 6.6%

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Existing home sales end five-month streak increase in November

Housing Wire

Existing home sales decreased 2.5% Compared to last November, home sales are still up 25.8%. Home sales in November took a marginal step back, but sales for all of 2020 are already on pace to surpass last year’s levels,” said Lawrence Yun, NAR’s chief economist.

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Rising home prices take a toll on pending home sales

Housing Wire

pending home sales fell 1.1% Year over year, pending sales are showing promise in every region of the U.S, As talk of an urban exodus continues, the Northeast’s pending home sales slid 5.9% months at the current sales rates as builders attempt to keep up.

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New home sales fall due to low inventory and high prices

Housing Wire

the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Overall, the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 741,000 units in May 2021.

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Keller Williams hails 16% jump in sales volume

Housing Wire

The Austin, Texas-headquartered real estate brokerage closed 1.22 million home sales in the U.S. Keller Williams also claimed $407 billion in 2020 sales volume in Canada and the U.S., onset in March only to surge to its highest sale volume since the mid-2000s.

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Sales Blitz for Year-End Closings

RIS Media

For real estate professionals, however, the approach of the fourth quarter is a good time to remind ourselves that the year will end, and that we need to make a final push now to drive sales both immediately and throughout the remaining four months.

Cover Story: Growing, Connecting and Helping Agents Close More Sales

RIS Media

A year ago, in March 2020, on the heels of an active January/February that set the year up as a strong one for home sales, the reality of COVID-19 hit the U.S. “Our advice was for them to reach out to people with kindness and a helping hand—not a sales pitch.

Unwrapping what to expect in your home inspection, appraisal and closing

Housing Wire

Have you budgeted for closing costs? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Closing.

Speed up the closing process with industry-leading solutions

Housing Wire

The company has introduced significant workflow efficiencies with mini-bulk loan sales, allowing users to send bids to multiple investors and integrate with the MSR broker community to value MSRs with brokers assumptions and create multiple automated commitments with just one click.

4 Scenarios Where Sellers Can Use Seller Credits to Close the Sale

HomeLight

While researching the home sales process, you’ve likely come across the term “seller credit.” A seller credit is a type of seller concession where the seller offers the buyer money at closing to sweeten the deal. Seller credits are money the seller gives the buyer at closing.

Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

If the February trend continued, total existing home sales would have been higher: we probably would have ended the year with sales between 5,7100,000 and 5,8400,000, a noticeable jump from last year’s number of roughly 5.3 million total home sales by the end of the year.

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10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process.

Virtual notary adoption surges as businesses rush to close transactions remotely

Housing Wire

The virtual notary services industry has become increasingly popular amid the COVID-19 pandemic as businesses have adopted remote signatures to adhere to social distancing protocols while closing on mortgages and other loans. Power & Associates in auto to conduct fully-digital car sales.

Short Sale Closing Costs: What Buyers Should Know

HomeLight

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales operate according to the lender’s approval, requirements, and timeline. Short sales 101. Let’s start with the basics: What even is a short sale?

Are Closing Costs Tax Deductible?

Redfin

But what if you recently bought a home, are closing costs tax-deductible? Before answering that question, it’s a good idea to understand what closing costs are and what is typically included in them. What Are Closing Costs? Are Closing Costs Tax Deductible?

NSDCC Monthly Sales

BubbleInfo

With roughly 20% fewer homes for sale, the scarcity has energized buyers to grab anything that’s close to being a good match – while the pickier buyers wait patiently. This month’s detached-home sales will likely set another new record, and set […].

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NSDCC 1Q Sales

BubbleInfo

2021 Jim's Take on the Market North County Coastal Sales and Price Check

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North OC Real Estate Expert Kathy Leimkuhler Closes Sale of $3.5 Million Sprawling Orange Estate

First Team Real Estate

ORANGE, CA – Top-producing First Team Real Estate agent Kathy Leimkuhler, principal of The Leimkuhler Group, recently closed the sale of 4045 E Rolling Green Ln in Orange for $3,588,000, receiving multiple offers on the secluded, private estate.

Karen Copeland of First Team Real Estate Closes $5.3 Million Commercial Sale

First Team Real Estate

HESPERIA, CA – First Team Real Estate High Desert office agent Karen Copeland recently completed the sale of a retail commercial center in Hesperia, CA , successfully representing both the seller and the buyer in the transaction.

Samini Razban Group of FirstTeam/Christie’s International Close Record Sale of Bonita Canyon Estate for $3.795 Million

First Team Real Estate

As the highest price per square foot sale in the history of Bonita Canyon, this sale by The Samini Razban Group is undeniably helping shape and raise property values in the community across the board. If your property is currently listed for sale with a broker, please disregard. ?.

What Are “Reasonable” Expectations For Final Closing?

Toronto Realty Blog

How did you handle the closing? Did you buy a bottle of champagne for new owners and leave it with a hand-written note on the kitchen counter, after having the property professionally cleaned, despite that not being specified in the Agreement of Purchase & Sale? TorontoRealtyBlog.

Selling FSBO? Tally Your Closing Costs Without a Realtor

HomeLight

If you’re selling For Sale By Owner, you’ll save on the listing agent’s commission. Other than that, you’re on the hook for the same closing costs as any other seller. Closing costs without a Realtor® typically average 1% to 7% of the final sale price.

Closing Stories – Liz & Noah

The Living Room

Vancouver Washington brings opportunities to first time home buyers with (slightly) lower average sale prices, typically larger lots, lower property tax, and the big one – No state income tax! As a wood worker, Noah (who made me the most beautiful closing gift!)

How Long it Takes to Close on a House

Realty Biz

What Is The Time Frame For Closing on a Home? One of the more popular questions asked from buyers and sellers is how long it will take to close on a house. When buying or selling a home, you feel relieved once the process closes and you have the home keys handed over to you.

Advancing the Acceptance of Remote Digital Real Estate Closings

RIS Media

Residential real estate sales have continued to flourish during the COVID-19 health pandemic and have been critical to keeping the economy afloat. Last summer, NAR conducted research to better understand barriers to adoption of remote digital real estate closing technology.

When a property is damaged prior to closing

REM Online

The original post can be found at the following URL: When a property is damaged prior to closing. What obligations do sellers and buyers have in a real estate transaction when the property has been accidentally damaged – such as by a fire – prior to closing?

17 Home Closing Delays and How You Can Avoid Them

HomeLight

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. So the answer to “how long does it take to close on a house?” Short sale.

Power Broker Survey Closing Today

RIS Media

Survey closing at midnight – there’s still time to be included in the rankings. Today is the deadline to complete RISMedia’s 33rd annual Power Broker Survey, the industry’s longest-running, preeminent ranking by residential sales volume and transactions.

So, the Seller Didn’t Complete Repairs Before Closing. Now What?!

HomeLight

After all the work you’ve put into finding a home, closing on it is supposed to be a celebration. However, nothing will rain on your parade as hard as the house not actually being ready on closing day because the seller did not complete repairs before closing that they agreed to handle.

Madeleine Semaan Closes Sale of $3.3 Million Kerrigan Ranch Home as Luxury Housing Heats Up

First Team Real Estate

YORBA LINDA, CA – First Team agent Madeleine Semaan successfully helped her client close the sale of 4281 Cedar Creek Drive earlier this month for $3,300,000. The post Madeleine Semaan Closes Sale of $3.3

How online auctions deliver on the promise of pre-foreclosure sales

Housing Wire

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales.

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Top-Producing Luxury Real Estate Agent Meital Taub Closes Sale On $7.25 Million Beachfront Home

First Team Real Estate

LAGUNA BEACH, CA – Providing her seller with the signature quality service that has made her an industry leader , Meital Taub successfully closed the sale of 112 S La Senda Drive in Laguna Beach for $7,255,000.