Housing Wire
AUGUST 16, 2022
Tuesday’s housing starts report clearly shows that homebuilders are going to be done with single-family construction until mortgage rates fall. Housing completion data is still struggling to get some traction, but in the coming months, builders should be able to get more housing completions done while housing permits and starts for single-family homes are in decline.
Appraisal Buzz
AUGUST 29, 2022
The United States is currently in what many consider to be a housing crisis. Market prices for purchased and rented homes are through the roof, with no clear end in sight. More people are searching for homes than there are houses available. This supply and demand issue made property prices skyrocket, with few able to afford what sellers were asking.
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Sacramento Appraisal Blog
AUGUST 22, 2022
Opendoor has been losing big lately in Sacramento since the market shifted. I thought it would be interesting to take a look at their activity over the past few months since I’m getting so many questions about them. This is not about throwing shade, and I’m not writing as a fanboy either. This is objective […].
The Appraiser Coach
AUGUST 2, 2022
If you’ve been a part of the appraisal world for long, you’ve had this experience. You’ve just submitted a completed report that you feel pretty good about. Soon afterward, however, Read More.
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Cleveland Appraisal Blog
AUGUST 25, 2022
You’ve just purchased your first property to renovate. How can you capitalize on your first investment property? I welcome back guest blogger and Author, Jessica Brody, who shares some tips with us on how to do so. Enjoy! Whether your first investment property will be a rental or a flip, your goal is to walk away with more money than you put into it.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
AUGUST 5, 2022
What a crazy day for my economic model! On the same day, the Bureau of Labor Statistics (BLS) revealed that we’ve recovered all the jobs lost to COVID-19 and I am raising my sixth recession red flag. When I wrote the America is back recovery model on April 7, 2020, and then retired it on Dec. 9, 2020, I knew one data line would lag the most: jobs!
Appraisal Buzz
AUGUST 8, 2022
Appraisers who have had the opportunity to participate in an appraiser conference recently have probably noticed a recurring theme from Fannie Mae – the importance of supervisory appraisers training the next generation of appraisers. Why is this so important to us? In simple terms, we are a risk management company. Guided by principles of good risk management and our mission defined by our congressional charter, the Fannie Mae Selling Guide states the policy requirements for the loans we acquire
Sacramento Appraisal Blog
AUGUST 15, 2022
Let’s talk about two things today. The myth of six months of inventory being normal and dipping prices. I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 8/25/22 State of Housing Brunch & Learn (sign up (for real estate community)) 9/08/22 SAFE Credit Union Market Update (details TBD) 9/15/22 Market update […].
The Appraiser Coach
AUGUST 9, 2022
When it comes to getting business, a lot of us like to go for the “low-hanging fruit.” AMCs are a wonderful source of that “easy to get” business. They’ve been. Read More.
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Cleveland Appraisal Blog
AUGUST 11, 2022
Do you fix your home up or sell it as-is? That can be a tough question to answer. There are some things to consider before making this decision. This week I welcome back guest blogger Betty White who shares some pros and cons of selling a home in its as-is condition. I hope you find her article to be helpful! For some homeowners, extensive renovations can present a challenge in terms of time and finances, particularly if you plan to move out of your home soon.
Eyes on Housing
AUGUST 11, 2022
Rising mortgage rates, high inflation, low existing inventory and elevated home prices contributed to housing affordability falling to its lowest point since the Great Recession in the second quarter of 2022. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 42.8% of new and existing homes sold between the beginning of April and end.
Housing Wire
AUGUST 10, 2022
One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. What does this mean? Some have said this is evidence of a soft landing for housing since we are in August and it doesn’t look like we are going to even get to the peak inventory levels we saw in 2019 this year, or even breach the lower levels of 2019 on the national data.
Appraisal Buzz
AUGUST 22, 2022
This year has felt like riding a roller coaster…in the dark…facing backwards. Some of the changes are probably specific to my market, but others will be familiar to most of you. The shifts in supply and demand have been rapid and not always easy to predict. I wrote previously about the impact of increasing interest rates and inflation on the residential real estate market.
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Sacramento Appraisal Blog
AUGUST 29, 2022
The housing market went from steaming to stagnant a few months ago, and now that some time has passed, we’re getting more stats to help show the effect of higher mortgage rates. Today let’s look at sales volume to understand what’s going on. I have a free download too for anyone wanting to make visuals […].
George Dell
AUGUST 31, 2022
The transaction zone is a range within which a sale price might occur. Yet our definitions of value nearly all define a “most probable” price. In prior issues, we have discussed how vintage appraisal practice is vulnerable to accusations of bias. The “appraisal process” is most vulnerable at the beginning of the analysis, wherein “good […]. The post Bias in the (Transaction) Zone?
The Appraiser Coach
AUGUST 30, 2022
I love podcasts! In fact, I started recording podcasts because of how much I loved listening to them. Recently, I was listening to a podcast about car salesmen, and one. Read More.
Eyes on Housing
AUGUST 10, 2022
Consumer prices eased slightly from a 40-year high in July as declines in energy prices offset increases in food and shelter indexes. Despite this improvement, inflation remains above an 8% rate for a fifth straight month. The food index recorded its largest annual gain since May 1979 as all six major grocery store food group indexes increased. Nonetheless, it is.
Housing Wire
AUGUST 8, 2022
In a recent survey by the National Association of Realtors , floor plans ranked as the third most desired listing feature for homebuyers, after photos and detailed listing information. But floor plans are a relative rarity on multiple listings services: only 10-15% home listings in the U.S. have floor plans. CubiCasa , a real estate software company based in Finland, launched a new product to enable homeowners to generate floor plans at no cost through their app.
Sacramento Appraisal Blog
AUGUST 1, 2022
Good news. Buyers aren’t having to make aggressive offers like they used to (even when there are multiple offers). Let’s talk about this today. I suspect this is true in many areas across the country. I’d love to hear your take. UPCOMING (PUBLIC) SPEAKING GIGS: 8/11/22 Realtist Lunch & Learn (sign up here (open to […].
George Dell
AUGUST 24, 2022
Truth can be hard to swallow! I find their ‘truth’ not credible. Not believable. Why? Well, for one thing. One important thing. That belief conflicts with MY belief. Clearly, my beliefs are better than theirs! Anybody can see that. At least they should see that. How can they be so stupid? Brad Cable just sent […]. The post Is Truth a Credible Edible?
The Appraiser Coach
AUGUST 23, 2022
In the beginning of the COVID-19 pandemic, when the State of Idaho shut down, my company and I took a remote appraisal assignment. Because of the local stay-at-home order, we. Read More.
Eyes on Housing
AUGUST 19, 2022
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. During the housing boom of recent quarters, this led to a rise for new single-family home size. However, as the housing market weakens this trend appears to be reversing. According to second quarter 2022 data from the.
Housing Wire
AUGUST 3, 2022
To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. In less than a year, we went from 2.78% on the 30-year fixed to as high as 6.28% , then recently got as low as 5% — only to have another move higher this week to 5.30%. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% to 4.5%.
Appraisal Buzz
AUGUST 10, 2022
Today’s Buzzcast interview is with Loren Cooke, President of Solidifi, and Scott Reuter, Chief Appraiser of Freddie Mac. We sat down with Loren, Scott, and Jim Morrison, VP of Marketing and Sales for Allterra Group, to discuss bringing more diversity into the appraisal industry and their panel for Valuation Expo, “ Appraiser Diversity Initiative: How the Industry is Attracting New Entrants and Fostering Appraiser Diversity. ”.
Housing Wire
AUGUST 9, 2022
Not many would count the title industry among the economy’s technology leaders. Candidly, there’s good reason for that. For decades, settlement services firms staked their reputations on personalized customer service and regional or local expertise, rather than cutting-edge technologies. More than a few observers have referred to us as a mom-and-pop industry because it’s comprised of a significant number of small agencies.
Housing Wire
AUGUST 4, 2022
Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The change could give nonbank lenders a way to guard against redlining accusations. The government-sponsored enterprise will start accepting such loans immediately. According to Fannie Mae’s guidance , “The lender must have a documented program that provides grants for low- to moderate-income borrowers, community development, equitable housing initiative
Housing Wire
AUGUST 23, 2022
It will get worse for the housing market – and mortgage industry – before it gets better. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week. “Housing remains clearly on the downtrend — and has been for several months now — due to the combined effects of outsized home price increases and the significant and rapid run-up in mortgage rates,” Fannie Mae’s Chief Economist Doug Duncan said in a statement.
Housing Wire
AUGUST 25, 2022
South Carolina-based Movement Mortgage has acquired the brokerage Superior Rate Mortgage of New England to expand operations in the region, the company announced Wednesday. The terms of the deal were not disclosed. The acquisition is another step to boost its sales amid shrinking loan origination volumes. The company announced new hires in the sales executive team in early August.
Housing Wire
AUGUST 9, 2022
California-based mortgage lender loanDepot is shutting down its wholesale division amid plummeting origination volumes and widening financial losses in the second quarter. The decision to close the channel also reflects fierce competition from its peers in the broker space, primarily from United Wholesale Mortgage (UWM). The announcement on Tuesday came alongside a $223.8 million loss in the second quarter of 2022, more than double the $91.3 million loss in the first quarter of 2022.
Housing Wire
AUGUST 3, 2022
Distressed mortgages dating back to the height of the pandemic are expected to fuel a jump in foreclosure activity over the next 12 months, although the foreclosure rate is still expected to remain below the pre-pandemic historical average, a new report from Auction.com contends. The prediction by one of the nation’s leading marketplaces for distressed assets, is based on a survey of some 50 Auction.com clients, including private-sector mortgage servicers and government-sponsored enterprises (GS
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