May, 2023

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New Single-Family Home Size Trending Lower

Eyes on Housing

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.

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How to answer buyers’ top 10 most-asked mortgage questions

Inman

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.

Buyers 186
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Green Appraisals Dependent on Agents

National Association of Realtors

Proper documentation can help appraisers evaluate high-performance home features. From the 2023 REALTORS® Legislative Meetings in Washington, D.C.

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Housing Market Tracker: Mortgage rates over 7%

Housing Wire

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.

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Unlock The Blueprint: How To Construct A Better Payment Workflow

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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These Are The Top 20 Up-And-Coming Real Estate Markets This Spring

BiggerPockets

The latest data from the Emerging Housing Markets Index is out. Here are the markets that made the top 20 list.

More Trending

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The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

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.

Appraisal 301
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Watch out — the industry’s mind-boggling transformation isn’t over

Real Estate News

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.

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The Decision to Act

The Appraiser Coach

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.

Appraisal 195
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FHFA rescinds controversial DTI LLPA

Housing Wire

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

Logistics 539
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

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.

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Three Hours On C-SPAN Yields One Granddaughter

Miller Samuel

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.

Appraisal 195
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Is Opendoor starting to turn things around?

Sacramento Appraisal Blog

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?

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How Do I Move to EBV?

George Dell

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.

Valuation 195
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Why RE/MAX's CEO isn’t worried about the market (but hates a cluttered inbox)

Real Estate News

President and CEO Nick Bailey — a 30-year industry veteran — takes a long-term perspective on real estate, and he already sees positive shifts.

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The Decision to Act

The Appraiser Coach

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.

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CPI report is good news for mortgage rates

Housing Wire

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

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5 things agents should look for in a real estate photographer

Inman

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.

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Graduation for the spring housing market

Sacramento Appraisal Blog

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.

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Regulation Education?

George Dell

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?

Appraisal 195
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Newly built homes a hot commodity for spring buyers

Real Estate News

As existing home listings have fallen, the inventory of new homes has increased — and prices have dropped — making them an attractive option.

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The Importance of Integrity

The Appraiser Coach

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.

Business 195
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Is the savagely unhealthy housing market back?

Housing Wire

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.

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Unaffordable Prices Are Most Common Reason Buyers Can’t Make Purchase

Eyes on Housing

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.

Buyers 192
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Pivoting when the housing market changes

Sacramento Appraisal Blog

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.

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Sisu claims transaction revolution is underway with portal 2.0 update

Inman

Sisu, a proptech that combines sales cycle and workflow automation with performance tracking technology, said Client Portal 2.0 aims to refine how agent teams interact with critical vendors.

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Bob Hale: 50 years at HAR, and the pursuit of greatness

Real Estate News

During his five decades as a member of HAR and 35 years as president and CEO, Hale has driven innovation in his organization and the industry at large.

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The Importance of Integrity

The Appraiser Coach

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.

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Rocket sells roughly $20B in MSRs to JPMorgan Chase

Housing Wire

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

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Lack of Existing Inventory Boosts Builder Confidence to Key Marker

Eyes on Housing

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.

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Sellers sitting out of the housing market & buyers getting concessions

Sacramento Appraisal Blog

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

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Offices are in trouble. Can turning them into housing save downtown?

Inman

Office-to-residential conversions are on the upswing as remote work destabilizes commercial real estate nationwide. "Everything is on the table," affordable housing advocate Janan New told Inman.

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CEO of fast-growing platform pitches ‘brokerage as a service’

Real Estate News

Pinnacle Realty Advisors CEO Sam Sawyer discusses his company’s model, growth trajectory and the traps they’re trying to avoid along the way.

Brokerage 271
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The (Real) Secret

The Appraiser Coach

I’ve never loved The Secret, as a book or a movie. Maybe I missed something, but the primary message I came away with after reading and watching it was that if I hope for something long enough, it will happen. That is probably a little bit of an over-simplification, but I still feel like they were a little too altruistic in their representation. What they were really missing was action.

Business 195