Waivers 50%. Hybrids 30%.

[Sadie]

I think I understand why the use of waivers.
Lenders want to know if the property value is sufficient in case loan defaults.
If low LTV, the risk is low and lenders are willing to go with waivers.
The exact point appraised value is not needed. Just a narrow range is needed and so no need to think so hard.
Yet appraisers are still needed. Appraisers are the eyes, ears, and smell (ugh the human odor smell in the unit still haunts me from recent inspection) to verify information on subject.
Thus lenders still need a real appraiser for better collateral confirmation.

LTV is now up to 90%. No so low risk

 

[Joe Flacco]

here ya go, Fern. This is Oakland over the past 5 years...

View attachment 104431

If you look at the median sale price and the median price per SF, they both look like they are pretty stable since 2023 a little bit below 2022 prices.

 

[Joe Flacco]

If you look at City of Oakland, the median sale price looks like the metro area, but the median price per SF is showing a declining trend, like the Zillow HPI. So it appears the Zillow HPI is based on the price per SF.

 

[Joe Flacco]

..

 

[Joe Flacco]

...

 

[Joe Flacco]

..

 

[djd09]

JD Vance says surge of illegal immigrants drove up housing prices — and US needs 5M new homes​

Vice President JD Vance explained Thursday that a surge in illegal immigration, coupled with a lack of new home construction, sent housing prices soaring — putting the American Dream out of reach for many.

“A lot of young people are saying housing is way too expensive. Why is that? Because we flooded the country with 30 million illegal immigrants,” Vance said during an interview with Fox News host Sean Hannity.

The VP argued illegal immigrants were “taking houses that ought by right go to American citizens” at a time when the country wasn’t “building enough new houses to begin with.”

JD Vance says surge of illegal immigrants drove up housing prices — and US needs 5M new homes

The VP argued illegal immigrants were “taking houses that ought by right go to American citizens” at a time when the country wasn’t “building enough new houses to begin with.”

nypost.com

it wasn't the waivers...could have been the number hitting appraisers...if they weren't so bias

 

[shrubberyvaluation]

JD Vance says surge of illegal immigrants drove up housing prices — and US needs 5M new homes​

Vice President JD Vance explained Thursday that a surge in illegal immigration, coupled with a lack of new home construction, sent housing prices soaring — putting the American Dream out of reach for many.

“A lot of young people are saying housing is way too expensive. Why is that? Because we flooded the country with 30 million illegal immigrants,” Vance said during an interview with Fox News host Sean Hannity.

The VP argued illegal immigrants were “taking houses that ought by right go to American citizens” at a time when the country wasn’t “building enough new houses to begin with.”

JD Vance says surge of illegal immigrants drove up housing prices — and US needs 5M new homes

The VP argued illegal immigrants were “taking houses that ought by right go to American citizens” at a time when the country wasn’t “building enough new houses to begin with.”

nypost.com

it wasn't the waivers...could have been the number hitting appraisers...if they weren't so bias

When I went on vacation I was sitting next to a real estate agent on the plane and she told me about some special mortgage program for illegal immigrants. Its totally bonkers.

 

[Surf Cat]

The illegal immigrants are being booted now....so prices should be coming down, right?

Now construction.....with many of the illegals in that field now leaving (involuntary) .....the costs will go up having to pay Americans and providing worker's comp...

So it's a wash! High prices remain....never mind!

 

[gregb]

it wasn't the waivers...could have been the number hitting appraisers...if they weren't so bias

Bring back deed restrictions so there is more housing for legal residents.