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Fannie Mae, the largest mortgage financier in the U.S., said Friday that its net income in the fourth quarter of 2020 checked in at $4.6 billion – up 8% from the third quarter. The government-sponsored entity’s total net income for the full year was $11.8 billion, and executives on Friday’s earnings call spoke enthusiastically about an eventual exit from forbearance.
I met Rich Barton, Zillow CEO , at an Inman/Curbed party held during an Inman conference in Manhattan a long time ago, the evening before Zillow’s launch. I asked Rich, a very nice and fascinating person, what he did for a living, not realizing he was the co-founder of Expedia. Ugh. He also said they were launching their latest effort the following morning – a web site called “Zillow,” and he added “as in rhymes with pillow” to the description.
As January rolls around each year, homeowners begin receiving their property tax bills. That’s why my tax appeal work often picks this time of the year. It should be no surprise that assessed home and land values are increasing. Property values have been increasing in many areas for years, with 2020 being a record year for home appreciation in many neighborhoods.
marchmeena29/Getty Images It’s a big question with no easy answer: Should you keep renting, or is it time to think about buying a home? One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. But that doesn’t mean buying is always the best choice—as a renter, you enjoy more flexibility and avoid many of the costs that come with homeownership.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Millennial Homebuyers Rule 2021. Millennials are Different Than Their Predecessors. Millennial homebuyers are the largest homebuying group in the United States. That makes it important for real estate professionals to understand this group and the impact they had on the 2020 real estate market and the impact they will have on the 2021 market! After all, if you’re in one of the older generations (the often ignored Gen X; the second-largest home-buying group, the Baby Boomers; the Greatest G
Are you familiar with the Freddie Mac House Price Index? Go take a peek. Freddie Mac House Price Index The FMHPI is your friend. The index reports monthly change in house prices for national, state, and metropolitan statistical areas (MSAs). The data series starts with January, 1975 and usually runs two to three months behind […].
Are you familiar with the Freddie Mac House Price Index? Go take a peek. Freddie Mac House Price Index The FMHPI is your friend. The index reports monthly change in house prices for national, state, and metropolitan statistical areas (MSAs). The data series starts with January, 1975 and usually runs two to three months behind […].
After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey. While economic spending has improved, due to the most recent stimulus, supply chain shortages are causing downstream inflation, leading to higher mortgage rates, said Sam Khater, Freddie Mac’s chief economist. “While there are multiple temporary factors drivin
As I've chronicled in the Appraiserville section of my Housing Notes newsletter since 2016, the scale of bureaucratic self-dealing of the executive committee and some members of the board of directors is breathtaking. Over the past decade or more, AI National has been able to keep a lid on the membership backlash by threatening to remove a member's credentials for speaking out.
On Tuesday of this week, Punxsutawney Phil saw his shadow. Therefore, we have six more weeks of winter weather, by some predictions. Somehow, I feel like six more weeks of winter is a given. Especially in Northeast Ohio. How accurate are weather predictions made by folks who try to base future weather patterns on whether this little critter sees his shadow?
A version of this post originally appeared in the December edition of Scotsman Guide. . Loan officers and listing agents are familiar with homeowner anxiety about real estate appraisals. Questions arise, such as: Does the appraiser penalize me if my house isn’t spotless? Will worn carpeting hurt my value? Will the appraiser look in my closets? Should I follow the appraiser and point things out?
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
As I’ve chronicled in the Appraiserville section of my Housing Notes newsletter since 2016, the scale of Appraisal Institute bureaucratic self-dealing of the executive committee and some members of the AI Board of Directors is breathtaking. Over the past decade or more, AI National has been able to keep a lid on the membership backlash by threatening to remove a member’s credentials for speaking out.
Residential appraisals are more straightforward than you think You’ve sold your house, but your offer is conditional upon an appraisal by the bank. What does this mean? The buyers of your home have applied for a mortgage from a bank, with the house used as collateral. The bank gets an appraisal to ensure that there’s […].
There’s no doubt we’re in a seller’s housing market. With inventory at record lows, demand surging and prices on the rise, buying — even just finding — a home in today’s market is quite the challenge. Of course, nothing’s impossible. If buying a home is on your radar for 2021, there are still ways to do it. You’ll just need a little forethought and some good old creativity, and the American Dream could very well be within reach.
Economist Timothy Taylor posted a discussion about hourly wages recently that had a section that sounded very familiar. Here’s the quote that caught my eye: “You will sometimes hear statistics people talk about a ‘composition effect,’ which just means that if you are comparing a group over time, you need to beware of the possibility […].
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
The shortage of qualified appraisers is worse than ever for several reasons: Demand exceeds supply. The continued surge in both refinance and purchase transactions has created a situation where the demand for appraisers far exceeds the supply. COVID concerns. B/c of COVID concerns, many appraisers are justifiably reluctant to accept orders requiring physical (interior) inspections. […].
Simonson Appraisals had a unique opportunity to do a deep dive in 2020 to develop an understanding of the impact of multiple factors affecting the Minneapolis apartment market. Our firm appraised a portfolio of apartment buildings in the Loring Park neighborhood in March 2020 two weeks after COVID-19 was announced as a global health pandemic. We provided additional services six months later in October 2020.
If we value higher, what about affordability?… A great deal of economic, social, and political talk has been around affordability of housing. To explore this topic, it may be helpful to ask some questions. Good policy starts with the right questions. In simplest terms, some people have the resources to have nice homes in nice neighborhoods, others have just tolerable homes for shelter.
If you’re like many Canadians, you’ve grown up thinking that one day, you’d be buying your own home. It seems like a pretty normal thing to do – until you’re actually doing it for the first time, yourself.
Economists and housing experts say mortgage lending standards will likely loosen in 2021, despite the increased risk of delinquencies ahead. Such a scenario illustrates the growing disparities in the U.S. housing market. As one struggling group of homeowners braces for the end of forbearance and navigates COVID-19-related economic shocks, another segment is better positioned than ever to scoop up properties that become available.
Why might you be engaged to appraise a single or multi-tenant industrial or flex style office building? What information do you need when appraising industrial and flex buildings ? Below, we explain the primary reasons for these types of appraisal assignments and provide punch lists of the items that you should acquire for appraisal purposes. Reasons for engagement.
Our offices are currently closed as we are experiencing a Texas weather emergency. The power grid in Texas was not prepared for the cold weather we have been experiencing. Our office has been without power since yesterday, (Monday) 6:30 am. Temperatures dropped to – 6 degrees last night. There are outages as well as rolling outages. Road conditions are treacherous and we have more snow forecasted for tonight and tomorrow.
A bit of color in some charts for your reading pleasure. This information is from the Ann Arbor Area Board of Realtors MLS run on a monthly basis, and includes all the Ann Arbor school district, single family detached housing only, no new construction or to be built, no condominium units. Data tracks from 1/1/19 forward and it includes several things that we watch as appraisers.
Millennial Homebuyers Rule 2021 Millennials are Different Than Their Predecessors Millennial homebuyers are the largest homebuying group in the United States. That makes it important for real estate professionals to understand this group and the impact they had on the 2020 real estate market and the impact they will have on the 2021 market! After all, if you’re in one of the older generations (the often ignored Gen X; the second-largest home-buying group, the Baby Boomers; the Greatest Gen
United Wholesale Mortgage , now a publicly traded company, will return to the Super Bowl this year. The wholesale lender will be running a new Super Bowl commercial spotlighting independent mortgage brokers and its website FindAMortgageBroker.com for a second straight year. See the video below: “We will always find ways to elevate and shine a light on independent mortgage brokers, and what better way to do this than during the Super Bowl where millions of Americans are tuned in to watch the game
Every homebuyer is different, just as every home buying experience is different. Each of your clients will have their own set of likes and dislikes. As a real estate professional, you should know how to tailor your approaches and strategies to suit your client’s wishes. Categorizing your client based on their motivations for buying is one of the best ways to help them find their dream home.
A version of this post originally appeared in the December edition of Scotsman Guide. . Loan officers and listing agents are familiar with homeowner anxiety about real estate appraisals. Questions arise, such as: Does the appraiser penalize me if my house isn’t spotless? Will worn carpeting hurt my value? Will the appraiser look in my closets? Should I follow the appraiser and point things out?
In 2021, more of us than ever are working remote. But staying productive in the home office isn't always easy. Here, 9 pro tips to win at working from home.
marchmeena29/Getty Images It’s a big question with no easy answer: Should you keep renting, or is it time to think about buying a home? One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. But that doesn’t mean buying is always the best choice—as a renter, you enjoy more flexibility and avoid many of the costs that come with homeownership.
Millennial Homebuyers Rule 2021. Millennials are Different Than Their Predecessors. Millennial homebuyers are the largest homebuying group in the United States. That makes it important for real estate professionals to understand this group and the impact they had on the 2020 real estate market and the impact they will have on the 2021 market! After all, if you’re in one of the older generations (the often ignored Gen X; the second-largest home-buying group, the Baby Boomers; the Greatest G
Following two months of steady declines, Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumer confidence to sell or buy a home, rose in January. The HSPI rose 3.7 points last month to 77.7. Though it’s undoubtedly a positive sign, the HPSI has yet to recover to pre-pandemic levels and is still down 15.3 points year over year.
Career satisfaction among real estate appraisers is significantly higher than the national average. Why are appraisers generally happy in their careers? Are some appraisers happier than others? Is income satisfaction as high as job satisfaction? Here, we address these questions and give a glimpse into survey data reported in the 2020-2021 Appraisal Income Guide.
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