08/15/2022
Hat tip to Attorney Joseph E Seagle and PCS Title for sharing these.
1. No flood of short sales is in our future based on the latest numbers showing that less than 3% of mortgages are seriously underwater. And the numbers are improving monthly. https://dsnews.com/daily-dose/08-04-2022/seriously-underwater-mortgages
2. After getting out of the iBuyer biz last year, Zillow is going back into the business (a little) with Opendoor. The two entered a partnership where Zillow sellers will be able to request and offer from Opendoor to buy the property via Zillow’s website. https://www.inman.com/2022/08/04/zillow-and-opendoor-team-up-to-provide-cash-offers-to-consumers/
3. How quickly the tides have changed. Here are five realities to brace for if you’re selling a home today. https://www.realtor.com/advice/sell/ways-selling-a-home-today-has-changed/?identityID=590f613e7cb2e8f13705a04c&MID=2022_0808_NL_Multi_Article&RID=4439594322&cid=eml_promo_Marketing_PRSL_MultiArticleNL_cons.15371622_2022_0808_NL_Multi_Article-article1-blogs_sell
4. The housing market just seriously shifted, and sellers better get real, real quick. https://www.realtor.com/news/trends/housing-market-reset-in-buyer-friendly-direction/?identityID=590f613e7cb2e8f13705a04c&MID=2022_0811_ArticleNL&RID=4439594322&cid=eml_promo_Marketing_NonPRSL_ArticleNL_cons.15395482_2022_0811_ArticleNL-hero-blogs_trends
5. As we’ve said here recently, interest rates are up, but adjustable rate mortgages are way up. https://www.corelogic.com/intelligence/interest-rates-are-up-but-arm-backed-home-purchases-are-way-up/