Having to compete in a multiple-offer situation on every offer has forced agents to come up with every possible way to make their buyers’ offer the most attractive to the seller. Of course, all of these options are predicated upon the comfort level of the client. One or all of these options could be appropriate, depending […]
Buyers Waiving Contingencies
The pandemic and high unemployment rate haven’t slowed the housing market. With homebuyers facing heightened competition this summer for a limited number of homes for sale, some have decided to try to gain an edge by waiving contingencies to make their offers more competitive. In June, Redfin reports that nearly 20% of successful offers submitted […]
No Appraisal Required for Certain Homes
Certain home sales of $400,000 or less will not need an appraisal since federal regulators approved a proposal to increase the threshold at which residential home sales require an appraisal. Last November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase […]
Appraisers React to Decision
NAR and the Appraiser Qualification Board have reported a “fix” for the appraiser shortage. But veteran appraisers are indicating that it ignores issues with Appraisal Management Companies, that appraisers say are partly to blame for the dwindling supply. “At a time when the average age of today’s residential appraiser is in the late 50s and […]
California Owners Get Real About Home Values
The gap between homeowners’ and appraisers’ perceptions on the value of properties is continuing to close. While Southern California homeowners are slightly underestimating their home’s value, homeowners, in general, still tend to slightly overestimate the price of their home–but not by nearly as much as they did a year ago. Home appraisals were, on average, […]
July 31 – CVAR At A Glance
Featured Classes and Events Aug. 3 | Citrus Valley Caravan – Flipping 101 Aug. 3 | CVAR Commercial Forum – Free! Aug. 3-29 | Free zipForm Webinars Aug. 7 | CRMLS Training – Free! Aug. 9 | New Member Orientation Aug. 11 | zipForm® Mobile Aug. 11 | zipForm® Mobile Live Stream – CVAR West […]
March 27 CVAR At A Glance
Featured Classes and Events March 27 | Notary Masters March 30 | Real Estate REVive April 3 | CRMLS Training April 4 | Rev Up w/ Reverse Mtg April 5 | RLA/BRE Contracts – East April 5 | REALTOR® Safety April 6 | MLS Forum – Free Ready for REvive? In the spotlight at the […]
Closing Delays On the Rise
Closing times are lengthening. The time-to-close averaged 40.5 days from November 2015 to November 2016 compared to 36.7 days the year before, according to data from the National Association of REALTORS®. NAR called the longer times in closing “unexpected” in a recent blog post. NAR began tracking closing delays following the implementation in 2015 of […]