I wanted you to be aware of what's coming up in the world of real estate, as well as share an article about the bidding wars in 2021. What's the highest over asking you witnessed? I personally saw one go $175,000 over asking.




FHFA Raises Fees on High-Balance Second-Home Loans



January 6, 2022


The Federal Housing Finance Agency announced it would be increasing upfront fees on second-home mortgages and on mortgages that finance homes with balances that exceed standard conforming loan limits. The fees are expected to increase the purchase cost of second homes and homes in high-cost areas.

The new fees from Fannie Mae and Freddie Mac will take effect on April 1.

Upfront fees for mortgage loans on second homes will rise between 1.125% and 3.875%. Most buyers finance their fee through their mortgage, which adds from 0.225% to 0.75% to the annual mortgage rate. For other certain high-balance loans sold to Fannie Mae and Freddie Mac, upfront fees will increase between 0.25% and 0.75%, or roughly 0.05% to 0.15% added to the annual mortgage rate, the FHFA said.


“These targeted pricing changes will allow [Fannie Mae and Freddie Mac] to better achieve their mission of facilitating equitable and sustainable access to homeownership while improving their regulatory capital position over time,” Sandra L. Thompson, FHFA acting director, said in a statement.

The National Association of Home Builders said that a buyer of a second home with a $300,000 mortgage loan amount and a loan-to-value ratio of 65%, for example, will pay an additional fee of $4,875 if their mortgage is purchased by Fannie Mae or Freddie Mac. Prior to this change, such buyers would have to pay no additional fee for a comparable mortgage.



More here


Housing Market Predictions for 2022


December 30, 2021

by Rose Morrison


The housing market is a complicated machine with close connections to the U.S. economy. Changes in one will affect the other, and vice versa. Because these two entities are connected so closely, even the slightest shift can have far-reaching implications for home buyers and real estate agents.


Looking for patterns and understanding the relationships between different economic factors can help real estate professionals anticipate where the housing market may go next. As the new year approaches, here’s what experts are saying.


The Housing Market Now


Coinciding with the pandemic in early 2020, supply chain shortages and underbuilding across the nation made it increasingly difficult for Americans to find new homes. Underbuilding has been a growing problem for years, as construction companies have faced more restrictions and obstacles on how they can build.


COVID-19 has compounded this issue and impacted spending and production. Building materials were bought up early in the pandemic as eager homeowners used their extra time for home renovations. Meanwhile, new products could not reach stores—either because they weren’t being produced or because of backups in the supply chain.


Click here for the full article.




By Janet Eastman | The Oregonian/OregonLive


Last year was a head spinner for home shoppers. The desire to take advantage of historic low mortgage interest rates and move to a larger place to work and staycation during the coronavirus pandemic was dashed for some by unprecedented competition.


The low level of properties for sale fueled bidding wars and rising prices. Many Oregonians can point to a house down the street that received more than its asking price. In some cases, residential property sales were over the top:

A remodeled midcentury modern in Portland’s West Hills sold for 30% over the listing price, that is $605,000 more than the owner expected. A 1912 Laurelhurst bungalow traded hands for 51.4% or $486,000 more than the asking price, all in two weeks.