Housing Wire

JANUARY 17, 2024

Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception. In fact, a veritable upheaval is headed for the housing market already.

Finance 479

Finance Seller concession Loan Officer Loans 479

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 456

Purchase and sale agreement Agents Seller concession MLS 456

Housing Wire

MARCH 27, 2023

Phoenix is also among the markets with the biggest upticks in seller concessions — another indicator of dampening demand. Phoenix was another magnet for remote tech workers during the pandemic — and the housing market in this city has experienced a similar fate.

Industrial 387

Industrial Marketing Seller concession Sales 387

Housing Wire

APRIL 8, 2024

After a few months of downward data in its performance metrics, the reverse mortgage industry saw a slightly different story play out in March that should come as welcome news. But case numbers are a strong indicator of future industry performance, and new case number data for February performed strongly, RMI said.

Mortgages 429

Mortgages Seller concession Loans Equity 429

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. 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 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

MARCH 6, 2024

Industry remains optimistic Every tracked geographic region recorded lower volume in February, but the largest — Pacific/Hawaii — recorded the least severe drop of 6.2%, according to RMI. It’s great to see the largest region drop less than most others, as that has a disproportionate impact on the overall industry,” Lunde told RMD.

Mortgages 427

Mortgages Seller concession Principal Loans 427

Housing Wire

NOVEMBER 20, 2023

An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing. What concerns me here is the potential for infighting in the industry over price competition. I want to be clear: in no way do I hope any of this happens.

Pre-approval 461

Pre-approval Agents Loan Officer Seller concession 461

Housing Wire

OCTOBER 21, 2022

Based on decreases in borrowers’ mortgage inquiries, early payoff (EPO) of mortgages and new home listings in the third quarter, Sales Boomerang ‘s latest mortgage opportunities report outlined potential dealmaking strategies for lenders in challenging times for the mortgage industry.

Seller concession 368

Seller concession Mortgages Loans Finance 368

Inman

APRIL 17, 2024

Fannie, Freddie and FHA say sellers can continue to pay the buyer's agent's commission. But it remains to be seen if buyers will be allowed to finance their agent's commission into their mortgage.

Industrial 197

Industrial Mortgages Finance Agents 197

RIS Media

FEBRUARY 29, 2024

In real estate transactions, buyers and sellers often negotiate various aspects of the deal. One element that frequently arises during these negotiations is referred to as seller concessions or repair credits. Negotiations can include the purchase price, closing costs and contingencies.

Seller concession 125

Seller concession Closing costs Closing As-is 125

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately.

Mortgages 378

Mortgages Loan Officer Marketing Seller concession 378

Broke Agent Media

MARCH 18, 2023

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. Banking Crisis Alright, we know you didn’t miss this—it’s safe to say that in every industry, all eyes have been on what’s happening with banks right now.

Seller concession 98

Seller concession Banks Mortgages Industrial 98

Housing Wire

OCTOBER 27, 2022

When borrowers show hesitancy due to high mortgage rates, loan officers work with options such as temporary rate buydowns, which allow homebuyers to receive lower mortgage rates at the start of their loan terms by using seller concessions as part of the payment.

Mortgages 393

Mortgages Fixed-rate mortgage Loan Officer Seller concession 393

Broke Agent Media

MARCH 28, 2023

The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. The tech industry is experiencing a high rate of layoffs. It’s important to note that even though these markets have cooled the fastest, they remain sellers’ markets.

Seller concession 98

Seller concession Marketing Sales Industrial 98

Broke Agent Media

JANUARY 13, 2023

Next up was the favorable jobs report and the Fed’s less than bullish response to it, followed by openly bearish Goldman Sachs projections and the increase in seller concessions. . Tune in to hear advice from both on what agents should be doing to prepare sellers and keep their clients well-informed. 14:17 Concessions are up.

Seller concession 52

Seller concession Mortgages Agents Industrial 52

The Close

DECEMBER 14, 2023

Commission Rate (%) Home Sale Price Submit When & Why GCI Can Get Complicated The basic GCI calculation is pretty simple, but several situations can impact this otherwise straightforward formula, including your split, seller concessions, and more. In this situation, that 6% commission is divided between two parties.

Agents 96

Agents Seller concession Brokerage Closing 96

Easy Agent Pro

SEPTEMBER 5, 2023

By considering creative incentives such as seller concessions or a flexible closing timeline, you can make your offer more appealing and increase your chances of securing the property. By offering to cover these costs, you reduce the financial burden on the seller and make your offer more enticing.

Earnest money deposit 78

Earnest money deposit Seller concession Purchase and sale agreement Pre-approval 78

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. Selling a home doesn’t come cheap. Source: (Kim Gorga / Unsplash).

Closing costs 77

Closing costs Closing Seller concession Purchase and sale agreement 77

Broke Agent Media

MARCH 20, 2023

But, in other markets, things are starting to shift for buyers—so much in some, that there’s even been an increase in seller concessions. For industry news, edutainment and humor, sign up for the BAM newsletter. Email Subscribe The post Top 10 Markets for Buyers and Sellers first appeared on BAM.

Marketing 98

Marketing Seller concession Industrial Agents 98

Real Trends

JANUARY 2, 2023

An increasing number of agents are exiting the industry because of these roller coaster conditions. There will be less price negotiation, more rate buy-downs and more seller concessions. There are certain price segments that are going to do better than others.

Seller concession 99

Seller concession Agents Mortgages Equity 99

Realty Biz

DECEMBER 5, 2022

Most of The Time, Having The Seller Make Repairs is a Mistake. It is usually best to ask the seller to adjust the price or give you a credit at closing. Those in the real estate industry refer to it as a seller concession.

Inspection 137

Inspection Earnest money deposit Purchase and sale agreement Inspection contingency 137

Real Trends

JULY 11, 2022

Concessions. You are your customer’s best advocate when it comes to evaluating seller concessions. Asking for concessions in a buyer’s market is a good strategy if the seller wants a quick sale. Seller concessions are less beneficial when homes are selling quickly, but each situation is unique.

Seller concession 79

Seller concession Closing costs Inspection Title search 79

Realty Biz

JUNE 26, 2023

The use of cryptocurrencies, particularly Bitcoin, has been surging over the past years in the real estate industry. If the seller believes the cryptocurrency market will experience an upward price movement, they might offer a discount on the home. It's up to you to decide if buying a house with Bitcoin is the best approach for you.

Seller concession 76

Seller concession Technology Investor As-is 76

Housing Wire

FEBRUARY 2, 2024

There’s always been a seasonality to the industry where the holidays are significantly slower than immediately before and after.” We expect to see similar industry volume for 2024.” When asked what industry professionals should most keep in mind heading further into 2024, McCully was concise. billion. “The

Mortgages 419

Mortgages Seller concession Loans Finance 419

RIS Media

FEBRUARY 28, 2022

iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1% Cash offers continue to drive Power Buyer growth: Many Power Buyers continue to report a 2x to 10x increase for cash offers in Q4 compared to Q4 2020.

Seller concession 82

Seller concession Loan contingency Mortgages Loans 82

Housing Wire

MARCH 13, 2024

Moreover, the concept remains a central theme of some arguments contained in the plethora of lawsuits that are now carpet bombing the real estate industry. There are many: Zillow , Realtor.com (which has not been owned by anyone in the industry for years), Homes.com — just to name a few.

Seller concession 468

Seller concession Agents MLS Sales 468

RIS Media

FEBRUARY 17, 2022

iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1% Cash offers continue to drive Power Buyer growth: Many Power Buyers continue to report a 2x to 10x increase for cash offers in Q4 compared to Q4 2020.

Seller concession 91

Seller concession Loan contingency Mortgages Loans 91

HomeLight

JULY 14, 2021

Agent Jessica Smith , who is based in Alabama and has more than seven years’ experience in the industry, says that motivated sellers will take care of the smoke problem before they put the house on the market. “If Smith cautions that seller concessions heavily depend on the market.

Seller concession 110

Seller concession Agents As-is Staging 110

The Close

FEBRUARY 20, 2024

The dark red areas notated on the map below have a severe housing shortage. Want more real estate statistics ? We’ve got you covered.

Marketing 93

Marketing Debt-to-income ratio MLS Pre-approval 93

Housing Wire

JANUARY 13, 2023

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. Connie Kim: There seems to be optimism in the mortgage industry at the start of the new year. How have the first two weeks of January been?

Pre-approval 417

Pre-approval Marketing Seller concession Mortgages 417

HomeLight

DECEMBER 2, 2021

We detail what costs you’re likely to incur and what sellers pay on average. Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. Cost to seller. < 1%.

Seller concession 116

Seller concession Staging Inspection Renovation 116

HomeLight

APRIL 17, 2024

They also estimate 1% in seller concessions if you list with them, but there’s no cancellation fee. You can work with local industry experts to help you set your home’s price. iBuyers can be a good option, but homework is a must Some of the complaints about iBuyers come from a lack of industry knowledge.

Seller concession 102

Seller concession Inspection Rent back Closing 102

HomeLight

APRIL 11, 2023

For this reason, many industry publications will advise that you buy in January or February for a better price. In addition, Colorado’s tourism industry saves every Colorado household $670 in annual taxes due to the state and local taxes paid by visitors. When is the best time of year to buy a house in Colorado?

Fixed-rate mortgage 90

Fixed-rate mortgage Seller concession Agents Sales 90

HomeLight

APRIL 11, 2023

For this reason, many industry publications will advise that you buy in January or February for a better price. In some cases, for instance, these can be inherited estates where the sellers don’t have the time or money to make significant upgrades prior to listing, so they’re willing to take a hit on the price in order to liquidate quickly.

Purchase and sale agreement 87

Purchase and sale agreement Agents Seller concession Inspection 87

HomeLight

NOVEMBER 30, 2022

Just as any good expert in any industry would seek to further their education and stay on top of changes or advancements in their field, many real estate agents pursue additional certifications to strengthen their skillset. Identify relevant certifications and specialties. Gauge connections.

Agents 111

Agents Purchase and sale agreement Technology Seller concession 111

Redfin

DECEMBER 27, 2023

Other contributors to the quieter rental market: Strong new construction in the apartment industry, and fewer new households forming (two or more people living together). In fact, by November, more than one-third of all home sellers gave concessions – down from the record 45.6% a Redfin company. in February but up from 27.6%

Marketing 63

Marketing Mortgages Investor New Construction 63

HomeLight

SEPTEMBER 10, 2022

Wiggs is an expert in the industry, working with 70% more single-family homes than the average Yonkers area agent. Seller concessions (2% to 6% to financially help the buyer). Get a Free Home Value Estimate. Get a near-instant real estate house price estimate from HomeLight for free.

Closing costs 96

Closing costs Agents Seller concession Closing 96