Housing Wire

FEBRUARY 6, 2025

If thats not enough, affordability is still a distant dream for most homeowners. Buyers want affordable new homes, yet new construction listings are still playing catch up with their high-priced counterparts. Beyond that, Deephaven allows up to 3% seller concessions at closing. Why is that important?

Loans 303

Loans Mortgages Equity Construction 303

Housing Wire

OCTOBER 18, 2023

While many multigenerational families are living together under one roof, potentially leading to feelings of overcrowding, accessory dwelling units (ADUs) have emerged as a practical solution for affordable housing that allows families to stay close while maintaining some separation. Multigenerational living is not a new concept.

Construction 545

Construction Banks Closing As-is 545

Housing Wire

DECEMBER 7, 2024

The second view has had large amounts of cold water thrown on it in the past few years as older homeowners say they dont want to sell. The first view is less of a theory and more of an inevitability based on demographic trends. Zillow research shows that housing shortages were the most severe in markets with more land use restrictions.

Closing costs 370

Closing costs Land Construction Marketing 370

Housing Wire

DECEMBER 18, 2024

And then looking at the vast demand or the vast breadth of competitors out there, we kind of looked at where they are doing well and where did we need to kind of jump in there and kind of close that gap. Citi led creative testing throughout the year-long site design and build, and will conduct testing throughout 2025.

Marketing 416

Marketing Lending Branding Banks 416

Housing Wire

APRIL 24, 2023

Studies have shown the emotional and psychological benefits that homeownership has on a person’s health and self-esteem, and that children of homeowners do better in school and have fewer behavior problems. According to the Federal Reserve, the median net worth for a homeowner is $254,900 compared to $6,270 for a renter.

Closing 397

Closing New Construction Loans Equity 397

Housing Wire

JUNE 6, 2023

All 12 Federal Reserve districts have seen issues with a lack of housing inventory , which is largely due to existing homeowners holding back on listing their homes after previously locking in low mortgage rates. Builders have been offering strong incentives to close deals.

Residential 459

Residential Construction Finance Sales 459

Housing Wire

JANUARY 6, 2022

Homebuilders responded to the shortage of homes for sale, accelerating new home construction, even as they face severe supply-side challenges, including rising building material costs and supply-chain bottlenecks, a lack of affordable lots, and difficulty in finding skilled labor.

Construction 511

Construction New Construction Equity Sales 511

Housing Wire

AUGUST 11, 2020

Within 24 hours, the homeowner will be presented an Offerpad cash offer, along with additional exclusive selling options. Lucie is known for quality homes that are typically located in quiet neighborhoods and surrounded by beautiful scenery – we are confident that our stress-free way to sell a home will be welcomed by homeowners.”

New Construction 416

New Construction Construction Closing As-is 416

Housing Wire

JANUARY 27, 2023

Now, they want to ensure that the buyers who are still qualified are still there to close the deal when homes are ready to move into. This makes them much more efficient sellers than existing homeowners, who need to find another house once they sell. 291,000 homes are still under construction: 5.7 months of supply.

Mortgages 545

Mortgages Sales Construction Closing 545

Housing Wire

MAY 6, 2021

Despite consistent forecasts of a market with rising rates, the 30-year fixed rate mirrored more closely numbers borrowers saw back in February. It’s also good for homeowners who may have missed prior opportunities to refinance and increase their monthly cash flow.”.

Mortgages 482

Mortgages Construction Closing As-is 482

Housing Wire

DECEMBER 2, 2020

Construction is starting to pick up, so that should help alleviate things in the housing market. It begs the question: why aren’t homeowners selling ? According to the data, more than a third of homeowners say general life uncertainty is the reason they’re not selling. It could offer homeowners a unique opportunity, too.

Marketing 488

Marketing Renovation Construction Mortgages 488

Housing Wire

DECEMBER 29, 2023

There wasn’t much competition from existing homeowners. And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024.

Construction 476

Construction New Construction Lending Sales 476

Housing Wire

OCTOBER 9, 2024

With the death toll from Helene crossing the grim milestone of 230 this week — and with thousands of impacted homes without flood insurance wiped away — this could lead to a ripple effect that drives homeowners insurance premiums even higher. That’s no longer the case. “I

Mortgages 459

Mortgages Fixed-rate mortgage Industrial Construction 459

Housing Wire

AUGUST 29, 2024

These states are Oklahoma, Texas, Idaho, Florida, Arkansas, Alabama, Tennessee and Utah, with Colorado getting close to positive inventory levels. These destination states have almost all had the highest rates of new construction in the country. But when that migration stops, then the construction pace isn’t fast enough.

Construction 482

Construction New Construction Mortgages Marketing 482

Housing Wire

JUNE 23, 2021

While these metrics are an advantage to existing homeowners who can capitalize on home appreciation, it presents a challenge for new homebuyers trying to enter the market. Decades of social and economic factors have made it even more challenging for minority homebuyers to become homeowners.

Marketing 448

Marketing Construction Industrial Mortgages 448

Housing Wire

NOVEMBER 28, 2023

So of course, all homeowners want the value of their property to be stable and even increase over time. This dynamic is the reason homeowners often want their politicians to suppress the building of new housing in their neighborhoods. The cost of labor has skyrocketed in recent years, driven by shortages in the construction workforce.

Land 490

Land Construction Real-estate owned Equity 490

Housing Wire

DECEMBER 3, 2020

Barbara Dopp, a Realtor with Keller Williams, Agents with a Smile , said that a homeowner who built a house in 2017 for $600,000 recently put it back on the market starting at $900,000. “We New construction continues to take more and more of our market,” Dopp said. Next year, it’ll probably be close to 50%.”.

Marketing 534

Marketing New Construction Construction Principal 534

Housing Wire

APRIL 26, 2021

The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased 2.3 “There has been an ongoing debate at Redfin about whether fear of coronavirus infection was keeping homeowners from selling,” she said. percentage points year over year to an all-time high of 101.0%.

Sales 482

Sales Construction Closing Marketing 482

Housing Wire

OCTOBER 18, 2021

“We’re operating within a labor and supply constrained economy inside a competitive real estate market, especially in the construction, renovation and closing spaces,” said Jeremy Wacksman, chief operating officer at Zillow, in a written statement. “We construction workers. Broadly speaking, there’s a dearth of U.S.

Renovation 397

Renovation Construction Brokerage Agents 397

Housing Wire

APRIL 28, 2023

The announcement comes a year after Bloomberg reported that only 47% of Black homeowners who completed a refinance application with Wells Fargo in 2020 were approved, compared with 72% of white homeowners. The partnership with T.D. Jakes said in a statement.

Lending 459

Lending Banks Commercial Development 459

Housing Wire

MARCH 14, 2023

Latinos added a net total of 349,000 homeowner households last year, which is one of the largest single year gains over the last decade, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2022 state of Hispanic homeownership report on Tuesday. million Hispanic homeowner households. Today, there are 9.2

Debt-to-income ratio 418

Debt-to-income ratio Mortgages Closing costs Equity 418

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. That’s why builders are utilizing closing cost incentives and temporary rate buydowns often funded by lenders. “If It’s a lot of work, and there’s no guarantee that they will pay off. “A

Loan Officer 418

Loan Officer Mortgages Loans Closing costs 418

Housing Wire

JANUARY 28, 2025

The storm resulted in airports closing, unsafe roadways and at least 11 deaths, ABC reported. In the aftermath of wildfires, our technology supports insurance companies and homeowners by evaluating damage, calculating reconstruction costs, and enabling faster, more accurate claims processing.”

Branding 283

Branding Investor Technology Development 283

Housing Wire

NOVEMBER 15, 2023

Meanwhile, he counts on home builders to ramp up new construction, as the existing-home inventory shortage lifts demand for new homes. To close out his presentation, Yun touted the ongoing value of homeownership despite market headwinds. Moreover, homeowners have accumulated sizable wealth over time.”

Sales 482

Sales New Construction Staging Mortgages 482

Housing Wire

JANUARY 19, 2024

Despite sluggish home sales, 85 million homeowning households enjoyed further gains in housing wealth,” Lawrence Yun , NAR’s chief economist said in a statement. It requires economic and income growth and, most importantly, a steady buildup of home construction.” In December, the median sales price was $382,600, up 4.4%

Fixed-rate mortgage 468

Fixed-rate mortgage Sales MLS Construction 468

Housing Wire

APRIL 19, 2021

When we launched Knox in March 2019, we set out to give everyone, from middle-class homeowners to seasoned landlords, a hands-off, predictable, and lucrative way to build wealth through investment property,” said David Friedman, Knox CEO. The post Knox Financial announces $10 million in Series A funding appeared first on HousingWire.

Construction 397

Construction Banks Finance Technology 397

Housing Wire

SEPTEMBER 20, 2023

In one described case, a homeowner was told that there was nothing the state could do about the outright denial of a policy, which was followed by that office marking the complaint closed.

Construction 435

Construction Development As-is Industrial 435

Housing Wire

DECEMBER 15, 2021

Bill Dallas: As construction and labor costs have climbed, so, too, have home prices. With higher home prices, potential homebuyers — particularly millennials who are grappling with student loan debt and increasing rents — are struggling to save enough for upfront costs to buy a home, such as down payments and closing fees.

Finance 418

Finance Loans Construction Equity 418

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year. Barnes said.

Loans 435

Loans Renovation Construction Mortgages 435

Housing Wire

JULY 20, 2023

With existing inventory still held back by homeowners, prospective buyers have turned to newly built homes instead. Rising mortgage rates in June likely caused some pullback in purchases over the month, as the 30-year fixed rate averaged close to 6.8%. from June 2022, according to the U.S. Census Bureau.

Mortgages 370

Mortgages VA loan FHA loan Construction 370

Housing Wire

JUNE 2, 2022

In 2021, the record increase in home prices helped homeowners build equity to roughly $2.1 A data point that explains the resiliency of the housing market: the number of households forming vs. the number of homes constructed. Even if the building pace were to pick up by two times, it would take seven years to close the existing gap.

Equity 468

Equity Construction Mortgages Industrial 468

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Home starts forecasts, meanwhile, don’t offer much certainty about the pace of construction next year.

Sales 488

Sales Mortgages Construction As-is 488

Housing Wire

SEPTEMBER 22, 2022

During the past 18 months — when refis were low-hanging fruit — the LO closed around $3 million a month. This month, she is lucky to have $2 million in her pipeline thanks to closing deals on a construction loan, a condo and a vacant lot. Next month I’m expecting to close $400,000 and nothing lined up for November,” she said.

Mortgages 397

Mortgages Loan Officer Loans Equity 397

Housing Wire

MARCH 22, 2023

The program provides direct loans to Native American veterans and veterans who are married to Native American non-veterans to help with the purchase, construction or renovation of a home on trust land. The new rate will apply to NADL loans closed on or after March 13, which will lock in the 2.5% interest rate for the life of the loan.

VA loan 418

VA loan Mortgages Land Loans 418

Housing Wire

APRIL 20, 2022

How Mortgage as a Service Levels the Playing Field for Minority and First-Time Homeowners. This white paper explores the benefits of closing the homeownership gap, systemic mortgage industry issues, and how Salesforce is partnering with Rocket Mortgage to enable mortgage as a service and increase minority and first-time homeownership.

Lending 542

Lending Loans Mortgages Development 542

Housing Wire

MAY 26, 2022

As you can see below, the inventory keeps falling from 2014 levels, and even with the weakness in demand this year, we are nowhere close to 2013 levels, let alone 2018 levels. We have more housing starts under construction now than in recent history! We have a lot of multifamily construction going on that won’t help the homebuyer.

Construction 526

Construction Bankruptcy Sales House Flipping 526

Housing Wire

APRIL 11, 2022

Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months. Watching the demand indicators very closely. Right now, an American homeowner with a sub 3.25% mortgage rate has the best hedge against inflation , and they are looking great.

Sales 514

Sales Marketing Construction As-is 514