Housing Wire

OCTOBER 22, 2021

Real estate investors are buying more properties, but paying less for them, according to a report from RealtyTrac released Thursday based on ATTOM Data Solutions home sales data. In the second quarter of 2021, investor purchases accounted for 15.4% of all home purchases nationwide, compared with 11.5% of all home purchases a year prior. Despite such a large year-over-year change, it is still slightly lower than Q1 2021 , in which investors held 15.9% of the market.

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Sacramento Appraisal Blog

OCTOBER 5, 2021

Tech companies and investment funds have their eye on residential housing. I wrote about this a few months ago and wanted to do a follow-up piece. Here are some things on my mind as well as fresh visuals. Any thoughts? TWO THINGS: 1) iBuyers are on a rampage: The iBuyer model has been on a […].

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Appraisal Buzz

OCTOBER 11, 2021

Tell someone that you’re a professional fee appraiser and most folks won’t have any idea what that really means. Some will picture the guys at Pawn Stars or the Antiques Roadshow trying to put a value on something they pulled out of their parent’s attic. If they’re in the mortgage industry, they’ll likely fall into one of two groups – those who understand the value you bring to the home finance transaction and those who think you fill out forms.

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Cleveland Appraisal Blog

OCTOBER 29, 2021

If you’re reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, “ Remaining Economic Life “ What does this number indicate? At first, you might be thinking that this means the estimated years remaining before a house falls over, so to speak.

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The Appraiser Coach

OCTOBER 5, 2021

I mentor a lot of appraisers from all across the nation. Most of the time, appraisers ask me how to do something such as, how to get their business to. Read More.

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Eyes on Housing

OCTOBER 18, 2021

Strong consumer demand helped push builder confidence higher in October despite growing affordability challenges stemming from rising material prices and shortages. Builder sentiment in the market for newly built single-family homes moved four points higher to 80 in October, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index.

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Sacramento Appraisal Blog

OCTOBER 18, 2021

Let’s talk about Zillow. I’ve been getting a TON of questions every week about what Zillow is doing and whether appraisers can use their purchases as comps. Big news: First off, yesterday news broke that Zillow would be suspending buying anything else until 2022. Based on articles and a few conversations with locals in the […].

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Appraisal Buzz

OCTOBER 20, 2021

In today’s Buzzcast, we dive into the recent phone scam that has been targeting appraisers. Today we have Joan Trice, Founder of Alterra Group, and Alan Pair, Chief Appraiser of SVP Valuations. We’ll be getting the inside scoop while they discuss what to do if you receive a call. Why and how are appraisers being targeted? Where can I go if I think I’ve given out sensitive information?

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Cleveland Appraisal Blog

OCTOBER 14, 2021

When baking, there are different ingredients that are used that will make the dough rise. Typically, yeast is the ingredient used to make bread rise. How does yeast work? Here’s a little video to explain how. Interestingly, yeast is not the only ingredient that can cause the dough to rise. For instance, sourdough. Sourdough is fermented dough, thus the name sourdough.

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George Dell

OCTOBER 27, 2021

A vary good question! As I have often contended: The problem with statistics is. words. Appraisal has been accused of being a “cottage industry.” Grrrr. How can this be? Here, too, part of the problem is words. We have continued to use, enforce, and teach outmoded ways and words. Ways and words […]. The post Does a Variable Vary? Part I appeared first on George Dell, SRA, MAI, ASA, CRE.

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Eyes on Housing

OCTOBER 27, 2021

Thanks to a surge in residential investment during 2020, housing’s share of GDP remains elevated compared to recent years. Last year’s market conditions involved a renewed focus on the importance of home, an evolving geography of housing demand, and a lack of for-sale inventory. Housing has continued to expand in 2021, although as the rest of the economy recovers, the housing.

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Housing Wire

OCTOBER 11, 2021

For the second month in a row, national housing affordability improved in August, according to the latest National Association of Realtors housing affordability index report. This improvement came as monthly mortgage payments fell by 1.1% while median family income fell by 0.7%. As of August 2021, the 30-year fixed mortgage rate was 2.89% compared to 3% a year prior.

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Sacramento Appraisal Blog

OCTOBER 27, 2021

What’s going to happen to the housing market? Is it going to crash? That’s a huge question as so many people are wondering how long price growth can continue. Let’s talk about this today by focusing on some of the bigger topics in this conversation. Spoiler alert. This isn’t a YES or NO sort of […].

Housing Market 411

Housing Market Marketing Real Estate Appraisal 411

Appraisal Buzz

OCTOBER 18, 2021

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. Our profession has been abuzz the last year or two with regards to the GSEs being mandated to modernize the appraisal profession. Many stakeholders in the profession have given their opinions on what that means. But the one place that no one seems to be looking towards is the actual practitioners themselves.

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Cleveland Appraisal Blog

OCTOBER 1, 2021

I hope you are all doing great! This week, I am happy to welcome a guest blogger, Penny Martin. I think you’re going to enjoy her article. Especially if you have pets and are thinking of downsizing. I have more articles I am working on for future posts. This week, I am also working on a new Home Value Stories podcast episode. Stay tuned. In the meantime, enjoy Penny’s great article!

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The Appraiser Coach

OCTOBER 26, 2021

Fear might be a good motivator, but it is a poor problem solver. Over the years, I’ve had to learn how to not be afraid of my clients. That is, Read More.

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Eyes on Housing

OCTOBER 5, 2021

Property taxes vary widely across states both in terms of annual taxes paid as well as effective tax rates. In 2019, the difference between average real estate taxes paid by New Jersey and Alabama home owners was $7,974. New Jersey continued its perennial distinction as having the highest average real estate tax bill per home owner ($8,687) as well as.

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Housing Wire

OCTOBER 8, 2021

Skyrocketing U.S. home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. The median home price nationwide in August increased 14.9% from a year ago to $356,700, according to the National Association of Realtors. August marked the sixth consecutive month where median home prices increased by double-digit percentages from a year ago.

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Renovations Inventory Marketing Property Taxes 543

Sacramento Appraisal Blog

OCTOBER 12, 2021

The housing market is trying to get back to normal, but how close are we? On one hand we’re feeling some seasonal slowing, but it also still feels really competitive. Today let’s talk about what normal looks like. If you’re not local I’d love to hear what you’re seeing in your market. Any thoughts? Background […].

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Housing Market Marketing Real Estate Appraisal 398

Appraisal Buzz

OCTOBER 4, 2021

MCLEAN, Va. Freddie Mac (OTCQB: FMCC) today released an analysis showing that appraisal values are more likely to fall below the contracted sale price of a home in census tracts with a higher share of Black and Latino households, resulting in an appraisal gap. The extent of that gap increases as the percentage of Black and Latino individuals in the census tract increases.

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Valuation Appraisal Contracts Finance 370

Cleveland Appraisal Blog

OCTOBER 22, 2021

When you looked at your email today, you no doubt received a post indicating a new article was out entitled “How Remaining Economic Life Works” So, funny story… I just started working on that article. Whilst attempting to set the publish date, I accidentally hit the publish now button. Awkward! I do hope it whets your appetite for this future article.

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Home Improvement Appraisal Renovations Modernization 221

George Dell

OCTOBER 20, 2021

No report. Can it be? Does modernized appraisal require a modernized report? And how about non-appraiser appraisals (valuations)? (Here we use the word ‘appraisal’ in its generic public meaning.) In the past, our thinking, expectations, laws and regulations, have separated the development of an appraisal from the report of an appraisal. In the past, that separation […].

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Eyes on Housing

OCTOBER 22, 2021

Home building, like other U.S. industries, has been dealing with the supply side challenges of labor and material shortages. Unlike other industries, however, home builders confront an additional challenge in obtaining lots on which to build. In a recent NAHB survey, 76 percent of builders reported that the overall supply of developed lots in their areas was low to very.

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Development 199

Housing Wire

OCTOBER 21, 2021

The National Association of Realtors ‘ existing home sales report for September came in at an excellent beat of estimates at 6.29 million. Now that we are just 10 days away from Halloween in 2021, we can all chuckle a bit at how wrong the housing bears of 2020-2021 have been. Especially all those crazy cats on YouTube forecasting the 2021 collapse of housing due to forbearance.

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Realtors Buyers Mortgage Inventory 540

Housing Wire

OCTOBER 14, 2021

Young people make up a smaller share of recent homebuyers than in previous years most likely due to the increased market activity of baby boomers, a new Zillow report published on Thursday found. It’s hardly breaking news that the demand for housing has drastically increased over the past 18 months, but the report suggests that this has more to do with demographic trends than the pandemic.

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Buyers Housing Market Real Estate Agent Real Estate 539

Housing Wire

OCTOBER 15, 2021

Homeownership platform provider SimpleNexus acquired LBA Ware , a software firm that offers incentive compensation management and business intelligence software for the mortgage industry, the companies announced Friday. The acquisition is a first for SimpleNexus and brings together 325 employees in 29 states from the two companies. SimpleNexus will now serve 425 distinct lender customers and dozens of mortgage technology integration partners, the company said in a release.

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Housing Wire

OCTOBER 18, 2021

Homebuilder confidence continued to rise in October despite increasing affordability issues due to rising material prices and ongoing shortages, according to the latest National Association of Home Builders (NAHB) and Wells Fargo Housing Market Index (HMI) report released on Monday. The report is based on a monthly survey of NAHB members, in which respondents are asked to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of pro

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Housing Wire

OCTOBER 18, 2021

I’ve been hearing some chatter lately that the uptick in home buying that started in February of 2020 (before COVID, by the way) and has continued into 2021 is being substantially driven by a national emotional state of fear of missing out (FOMO). Now, I understand emotional eating (me, plus Halloween, plus a big bowl of Reese’s Peanut Butter Cups for instance) and even emotional buying (still whittling down hand sanitizers).

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Housing Wire

OCTOBER 11, 2021

Now that we are heading toward the end of 2021, what can we say about the U.S. housing market this year? No question it has been another year of ups and downs with seemingly conflicting data, which could indicate a coming boom or a bust depending on how you decide to parse it. If we stick to the facts, however, we can glean a few important take-homes as to what risks the housing market faces for 2021 and beyond.

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Housing Wire

OCTOBER 13, 2021

Home prices are currently up 20% year-over-year, but according to a new Goldman Sachs market forecast, they may not have reached their peak yet. Not even close. Goldman Sachs economists predict that home prices will grow another 16% by the end of 2022. The rapid increase in home prices over the past year is due to a number of colliding factors, including low interest rates, tight housing inventory, pandemic-induced migration patterns and an increase in millennials entering the home buying market

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Inventory Construction Law Investors 534

Housing Wire

OCTOBER 5, 2021

Former banker Matthew Feldman has been named chairman of the board of managers at the Federal Housing Finance Agency – controlled Common Securitization Solutions , where he will lead a transition to better align the organization’s “corporate governance structure with its core mission,” FHFA announced today. That core mission is to provide the infrastructure to support government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac in issuing mortgage-backed securities.

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Housing Wire

OCTOBER 26, 2021

Zillow CEO Rich Barton. Antonio Pellegrini was stunned. In May the real estate agent listed a two-bedroom home in Fountain Hills, Arizona, 30 miles north of Phoenix, for $342,000. After 25 days on the market, there were no takers for the 1,400-square-foot home and Pellegrini counseled his client about potentially lowering the listing price. Then Zillow came along.

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Housing Wire

OCTOBER 18, 2021

Desktop appraisals, a temporary flexibility implemented in March 2020 to keep the mortgage industry afloat amid lockdowns and social distancing, will become permanent, the Federal Housing Finance Agency said today. Sandra Thompson, acting director of the FHFA, said both Fannie Mae and Freddie Mac will allow appraisals to be conducted remotely, using public records such as listings and tax appraisals, for purchase loans starting in early 2022.

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Housing Wire

OCTOBER 4, 2021

In several previous articles I have opined that an increase in mortgage rates may be our only hope for slowing the escalation of home prices that we’ve been experiencing for the past year. With mortgage rates hitting above 3% last week for the first time since June, it’s a good time to revisit this conversation and what we should expect next for mortgage rates.

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