Eyes on Housing
MAY 22, 2023
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as interest rates reached historic lows. However, as interest rates increased in 2022, and housing affordability worsened, the demand for home size has trended lower. According to first quarter 2023 data.
Inman
MAY 10, 2023
Agents should be prepared to answer their buyer's mortgage questions, including types of mortgages, lender guidelines, preapproval vs. prequalification and the closing process in the area.
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National Association of Realtors
MAY 8, 2023
Proper documentation can help appraisers evaluate high-performance home features. From the 2023 REALTORS® Legislative Meetings in Washington, D.C.
Housing Wire
MAY 28, 2023
Debt-ceiling drama pushed bond yields up last week, taking mortgage rates to a new 2023 high in the middle of the spring home-selling season. Active housing inventory , thankfully, saw some decent growth last week. Purchase application data had a second straight week of declines. Here’s a quick rundown of the last week: Active inventory grew 8,914 week to week, even though new listing data is still trending at all-time lows in 2023.
BiggerPockets
MAY 15, 2023
The latest data from the Emerging Housing Markets Index is out. Here are the markets that made the top 20 list.
Sacramento Appraisal Blog
MAY 9, 2023
The housing market went from an ice bath to a bloodbath. That’s a good way to describe it as the contrast between the dull fall season and the spring has been striking. In today’s post I want to highlight national vs local stats, a dead cat bounce, and dive deeply into local trends. I hope […] The post The housing market went from an ice bath to a bloodbath first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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Cleveland Appraisal Blog
MAY 26, 2023
Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. They had hired the former real estate professional to value their property for the purpose of a divorce. But then they had to hire me to perform an appraisal.
Eyes on Housing
MAY 16, 2023
Limited existing inventory, which has put a renewed emphasis on new construction, resulted in a solid gain for builder confidence in May even as the industry continues to face several challenges, including building material supply chain disruptions and tightening credit conditions for construction loans. Builder confidence in the market for newly built single-family homes in May rose five points to.
Housing Wire
MAY 19, 2023
Add Rocket Mortgage to the list of companies selling mortgage servicing rights (MSR) in a difficult operating environment. The Detroit, Michigan-based lender sold about $20 billion in MSRs to JPMorgan Chase in April, following a decline in its servicing book in the first quarter of 2023. The company’s unpaid principal balance reached $524.8 billion as of March 31, compared to $535 billion at the end of December, according to Securities and Exchange Commission (SEC) filings. “In Apr
The Appraiser Coach
MAY 30, 2023
The key to success isn’t great ideas. Everyone has great ideas. I’ve had so many people come to me with an idea they had and say, “Dustin, isn’t this a great idea?” And, quite often, their idea really is good. But there’s something very important that separates good ideas from successful implementation. Nothing would happen if good ideas weren’t acted upon.
Sacramento Appraisal Blog
MAY 30, 2023
The iBuyer model got destroyed last year when the housing market shifted, but is Opendoor starting to turn things around? Today I want to look at some stats in the midst of a market full of drama. SERIOUS REAL ESTATE DRAMA It’s been drama this past week with debt ceiling conversations and rates above 7% […] The post Is Opendoor starting to turn things around?
Real Estate News
MAY 27, 2023
Don’t let this transformative moment intimidate you. Industry experts Stefan Swanepoel and Jack Miller of T3 Sixty say it’s an opportunity built on history.
Miller Samuel
MAY 21, 2023
On Friday morning, I was one of five expert witnesses (and the only as an appraiser) to testify on the topic of appraisal bias in front of the Appraisal Subcommittee (ASC). The witnesses waited together in the green room, plus additional TAF staff. We had a delightful conversation - everyone was very friendly and a pleasure to be with, given the adversarial nature of our looming testimony.
Inman
MAY 8, 2023
It can be hard to know which type of photographer will show up at your property. Here are some best practices to ensure your listing (and your client) are set up for success.
Housing Wire
MAY 17, 2023
The best way to fight inflation and get lower mortgage rates is to get more apartment units finished, and so far, this has been slower than my tortoise Grundy. One of the most frustrating data lines since COVID-19 has been housing completion data. Of course, we all understood the delays during the pandemic, but those days are over. We need to ramp things up and so far, it hasn’t been spectacular.
The Appraiser Coach
MAY 30, 2023
The key to success isn’t great ideas. Everyone has great ideas. I’ve had so many people come to me with an idea they had and say, “Dustin, isn’t this a.
Sacramento Appraisal Blog
MAY 23, 2023
It’s graduation season for school, and it’s also that time of year where the spring housing market crests or graduates for the year so to speak. Let’s talk about the signs of a peak, the weirdness of today’s market, and bro rating. UPCOMING (PUBLIC) SPEAKING GIGS: 6/1/23 Thrive in Real Estate (register here) 6/07/23 SAFE […] The post Graduation for the spring housing market first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Real Estate News
MAY 23, 2023
As existing home listings have fallen, the inventory of new homes has increased — and prices have dropped — making them an attractive option.
George Dell
MAY 17, 2023
Evidence Based Valuation – EBV is the future for valuation professionals. It requires the appraiser’s experience, judgment, and knowledge. It’s not hard, just new. EBV captures the huge advantages of modern technology: computer power, open-source software, and market visualization. EBV provides an exciting learning path toward better service, personal satisfaction, and income security.
Eyes on Housing
MAY 15, 2023
Over the first three months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 191,695. On a year-over-year (YoY) basis, this is 31.1% below the March 2022 level of 278,189. Year-to-date ending in March, single-family permits declined in all four regions. The Northeast posted a decline of 20.5%, while the West region reported the steepest decline.
Housing Wire
MAY 18, 2023
Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. Why is this so important to me? If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. I would say it’s savagely unhealthy to have that level and even though we’re not there yet, we are dangerously close.
The Appraiser Coach
MAY 23, 2023
Many of us hear about integrity often, but what does integrity even mean? What are we actually talking about here? A good explanation of integrity that I’ve heard is that integrity is what you do and how you act when no one is watching. It is your true, basic self. Integrity, really, is the foundation of your soul. It is the thing upon which every other part of your life is built.
Sacramento Appraisal Blog
MAY 17, 2023
Builders are having a moment. New home sales are glowing right now in the midst of depressed volume in the resale market. Today I want to share some stats for new construction, but let’s also talk about pivoting when the market changes. UPCOMING (PUBLIC) SPEAKING GIGS: 5/22/23 Yolo YPN event (only for YAR members) 5/25/23 TBD 6/1/23 […] The post Pivoting when the housing market changes first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Real Estate News
MAY 11, 2023
The U.S. has never defaulted on its debt, but without government action, it could happen by June 1 — leading to a surge in mortgage rates and monthly costs.
George Dell
MAY 3, 2023
Around 1986, licensing and education efforts started – in order to “help prevent another crisis” like the Savings and Loan meltdown of those mid-1980’s. Effectively, the standards of the professional appraisal organizations were adopted in a joint effort of those groups. Then the “congressionally authorized” non-profit Appraisal Foundation took over licensing as well as standards […] The post Regulation Education?
Eyes on Housing
MAY 4, 2023
An earlier post revealed that 71% of buyers who were actively engaged in the process of finding a home in the first quarter of 2023 have spent 3+ months searching for a home without success. The inability to find an affordable home remains the most common reason buyers looking for 3+ months can’t make a purchase, cited by 40% (compared.
Housing Wire
MAY 10, 2023
Did you hear that sound? That’s the entire mortgage industry shouting, “hip, hip hooray!” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. The FHFA, which regulates Fannie Mae and Freddie Mac , had previously delayed implementation of the DTI LLPA from May 1, 2023 to August 1, 2023 following a chorus of upset fro
The Appraiser Coach
MAY 23, 2023
Many of us hear about integrity often, but what does integrity even mean? What are we actually talking about here? A good explanation of integrity that I’ve heard is that.
Sacramento Appraisal Blog
MAY 2, 2023
Sellers have been sitting out of the housing market, and it’s made a massive difference in 2023 so far. Today I want to show what’s happening with new listings and talk about concessions. I hope this is useful, whether you’re local or not. Scroll by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 5/4/23 Housing Market […] The post Sellers sitting out of the housing market & buyers getting concessions first appeared on Sacramento Appraisal Blog | Real Estate A
Real Estate News
MAY 31, 2023
With so many factors pushing and pulling on the economy right now, there is little consensus on whether prices will rise or fall in the coming year.
Housing Wire
MAY 10, 2023
The massive inflation and double-digit mortgage rates of the 1970s and early 1980s seem to haunt the Federal Reserve , which wants to cool the economy and even provoke a job-loss recession to avoid that scenario. But the latest Consumer Price Index inflation report shows how the fear of 1970s-style inflation is wildly overblown. Today’s numbers don’t look like the 1970s at all, when rent, wages, and oil shocks sent inflation running hotter than anything we have seen in recent modern-day hi
Housing Wire
MAY 23, 2023
In a country with more than 330 million people, there are only 70,000 new homes available for sale today in the U.S. housing market. And with total active house listings in America near all-time lows, that is all we have for completed units for sale. The number of new homes doesn’t ever get into the millions, but we are still working our way back to the pre-COVID levels of 80,000 to 100,000.
Housing Wire
MAY 21, 2023
It was a wild ride for the housing market last week! The 10-year yield rose noticeably, sending mortgage rates near 7% right in the heart of the spring selling season. New listings data fell, however, active inventory grew. And purchase apps had a weekly negative print, continuing the 2023 theme of higher rates impacting the data. Here’s a quick rundown of the last week: Total active listings grew by 3,809 weekly, but new listings are still trending at all-time lows.
Housing Wire
MAY 7, 2023
Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. Hopefully, this is just a blip, which can occur from time to time with weekly data. We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell.
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