Who else is dead slow lately?

[ZZGAMAZZ]

Am I the only one seeing US economy is heading to a recession because of Trump.
Hadn't been this pessimistic of our future since 2008.

An optimistic appraiser would anticipate BK assignments.

 

[ZZGAMAZZ]

Lol, quiet and patient?
All you guys did was beech and whine and blame Biden for everything and invent smoke trails and imaginary conspiracy theories about Hunter's laptop -

After all these years, I just noticed a flaw in the Appraisers Forum......No "Dislike" option!!!!!!!!!!! Sorry JG....

 

[glenn walker]

Jo

An optimistic appraiser would but

After all these years, I just noticed a flaw in the

Currently 6 assignments - far above what I want.

See only 45 day's and the Waters Tasting like Wine...up the Country Canned Heat Woodstock 1969. My older sister and her friend's all dancing on our patio.

 

[djd09]

Home buyers are fed up with high mortgage rates, Fannie Mae says​

Nearly 8 in 10 respondents to Fannie Mae’s survey said it was a bad time to buy a home​

By Aarthi Swaminathan

Nearly 8 in 10 respondents, or 76%, said that it was a bad time to buy a home, according to the survey, while only 24% said that it was a good time to buy.

The median price of an existing home in January was $396,900, according to the National Association of Realtors. The median price of a newly built home in January was $446,300

https://www.marketwatch.com/story/home-buyers-are-fed-up-with-high-mortgage-rates-fannie-mae-says-921a5ea0

...

 

[Terrel L. Shields]

Home buyers are fed up with high mortgage rates

I would argue the problem is that houses are priced well above their intrinsic value. A Commercial RE rag I get for the state pointed out that multifamily prices have been dramatically impacted by per SF for construction having jumped from $120 per SF to $200 per SF just since 2022. Lumber prices have fell from $1100 to less than $500/1000 BF. So, labor and other items are an issue. I am seeing EP of 20-25% - about double that of 2020.

 

[Fnbpos]

If you want to be busy with refi's, then you want a recession -- lower rates. I believe during the last recession we were all swimming in orders. Far fewer refi's receive appraisal waivers. In my market, cash sales have been 40-50% of all sales -- lots of equity to tap into. Recession .>>> lower rates >>> refi higher rates and/or take some equity. Rates will eventually retest the lows of a few years ago -- you heard it here first.

 

[Joe Flacco]

Nope. Rates are not testing the lows. Low 5's best case scenario.

 

[Terrel L. Shields]

In my market, cash sales have been 40-50% of all sales -- lots of equity to tap into. Recession

Equity created by selling houses you gave $200k for in 2012 and flipped in 2022 for $500k. That cash was then spent on buying a $400k house and paying off the capital gains. So, a lot of houses are debt free or low LTV. That alone is propping up prices. Those houses that sold pre-Great Recession were financed to the hilt. A lot of people hit the jackpot when prices spiked up. It is the younger generation that has been priced out of the market.

 

[Joe Flacco]

But that's still that too bad. Two years worth of buyers can refi. Two years of low number of transactions but it' still two years.

 

[Fnbpos]

Equity created by selling houses you gave $200k for in 2012 and flipped in 2022 for $500k. That cash was then spent on buying a $400k house and paying off the capital gains. So, a lot of houses are debt free or low LTV. That alone is propping up prices. Those houses that sold pre-Great Recession were financed to the hilt. A lot of people hit the jackpot when prices spiked up. It is the younger generation that has been priced out of the market.

A cash buyer is a cash buyer, If prices decline 20% they still have plenty of equity. The median price around here (detached single family) is about $650,000