George Dell
JANUARY 25, 2023
Our blog this week, ‘Can Expert Analysis Save Appraisers?’ is a guest post from a long time friend and colleague, Timothy Andersen, MAI, MSc, CDEI, MNAA, The Appraiser’s Advocate. Analysis of what? Save appraisers from what? Clients want more than our opinions. They expect us to gather data, analyze them, and then interpret them. In […] The post Can Expert Analysis Save Appraisers?
Housing Wire
JANUARY 27, 2023
What is happening with homebuilders and the new home sales sector as we head into the spring housing market ? We have had some conflicting data points recently. On the one hand, cancelation rates have been rising. On the other hand, mortgage rates have gone down more than 1% since Oct. 20, 2022. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving pr
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Sacramento Appraisal Blog
JANUARY 3, 2023
What’s the real estate market going to do in 2023? Nobody has a crystal ball, but here are some emerging trends. Scroll quickly or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 1/12/23 McKissock Webinar (register here) 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on Zoom (register here) 1/20/23 […].
Cleveland Appraisal Blog
JANUARY 5, 2023
Welcome to 2023! I hope that you all had a nice time off over the past month. We all needed some rest from the crazy housing market we’ve experienced in recent years. Like most markets across the country, the Cleveland area housing market has been red hot for the past few years. Even before the pandemic’s incredible surge in housing demand, the market in Northeast Ohio was skating along nicely.
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The Appraiser Coach
JANUARY 10, 2023
I’ve begun to notice that retirement is starting to creep up on me a little bit, and I’m starting to wonder if I’m really ready. I recently decided to get. Read More.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
George Dell
JANUARY 18, 2023
Neighborhood” seems like an obvious choice for analysis. But is it? (Part 5 of a series.) The knee-jerk reaction to this question is that obviously we need it. It is a starting core of analysis. It’s what we were taught. It’s required for our license test. Leaving out a neighborhood section (form or narrative) would […]. The post Do We Need a Neighborhood Section?
Housing Wire
JANUARY 6, 2023
Can we have a soft landing in the economy? Friday’s job report shows there is a clear pathway to get there. Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. The bond market saw that wage growth was cooling down, leaving the Federal Reserve with few reasons to keep the rate hike story going much longer.
Sacramento Appraisal Blog
JANUARY 16, 2023
How are appraisers handling concessions to the buyer? Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market. UPCOMING (PUBLIC) SPEAKING GIGS: 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on […].
Cleveland Appraisal Blog
JANUARY 12, 2023
Are you planning on moving to a new state? There’s so much to think about. Employment, the cost of the move, buying a home, and many other things. This week, I welcome a new guest blogger, Ryan Mackenzie, who shares tips for making a move more manageable. I hope you enjoy it! So you have decided to move to a new state. Good for you! This is a chance to meet new people and experience a new culture.
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The Appraiser Coach
JANUARY 17, 2023
Years ago, I went on a nation-wide tour where I met with appraisers in several cities. We discussed what I do as an appraiser and business owner, and how they. Read More.
Eyes on Housing
JANUARY 10, 2023
Mortgage rates have increased rapidly in 2022, as the Federal Reserve continues to fight high inflation. The U.S. weekly 30-year fixed-rate mortgage rose from a slightly more than 3% in early 2022 to more than 7% in late October and leveled off at a rate of 6.42% as of the end of 2022. Mortgage payments have increased from $1,925 on.
George Dell
JANUARY 11, 2023
Errors and mistakes can be “statistical.” They can be modeling Blunders. Or they can be of a third type: misjudging what the data is showing you. As we continue to grow the CAA (Community of Asset Analysts), we find that our body of useful algorithms and shared programs continues to deepen and widen. The accuracy […]. The post Errors Mistakes and Modeling Myths?
Housing Wire
JANUARY 4, 2023
Cyberattacks, particularly wire fraud through business email compromise, remain a major concern for the title industry. Attempted attacks increased significantly, according to a 2022 survey by the American Land Title Association , with 46% of respondents saying their employees receive at least one email a month attempting to change wire or payoff instructions.
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Sacramento Appraisal Blog
JANUARY 30, 2023
The housing market is getting hot again for the spring. It went from an ice bath in the fall to a hot shower so far in January. It’s not scalding like 2021, but it’s been a striking change. Let’s talk about this. UPCOMING (PUBLIC) SPEAKING GIGS: 2/8/23 SAFE Credit Union “Snacks & Facts” (for RE) […] The post The housing market went from an ice bath to a hot shower first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Cleveland Appraisal Blog
JANUARY 19, 2023
Have you heard of a property being overimproved, or super adequate? How about underimproved? Unless you’re in the property valuation profession, you may not have. What do these things indicate? The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value.
The Appraiser Coach
JANUARY 31, 2023
Do you have a virtual assistant hired? Many appraisers have found this to be a great way to get needed tasks accomplished without having to do them yourself. You may have hired someone locally. And if that’s the case, you probably have provided the necessary resources and hardware for your employee to be successful, as any good employer would. Making sure they have double monitors, an updated laptop or desktop, strong hardware, and necessary supplies will help them accomplish those tasks you giv
Eyes on Housing
JANUARY 13, 2023
In May of last year, Eye on Housing reported on historically widespread shortages of building materials. Since then, most of the shortages have eased; the major exceptions being shortages of HVAC equipment and certain categories of ceramic materials (ceramic tiles, clay bricks and cement-based building materials), which have gotten slightly worse. NAHB has been tracking shortages of building materials and.
Inman
JANUARY 19, 2023
Inman Access is dropping three new classes to help you navigate shifts in investor sentiment, expand your skills as a team leader and get the best tips on leveraging video as a marketing tool.
Housing Wire
JANUARY 9, 2023
One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers.
Sacramento Appraisal Blog
JANUARY 11, 2023
If you torture the stats long enough, they’ll confess to anything. Have you heard that before? Well, it’s true in real estate. If we’re not careful, we can make numbers say anything, whether for a glowing or doom narrative. Today, I want to talk about the danger of annual stats right now, and then I […]. The post Torturing housing stats to say what you want first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Housing Wire
JANUARY 5, 2023
The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Housing went into a recession in June and mortgage volume fell off a cliff. So where does all that drama leave us for 2023?
Housing Wire
JANUARY 20, 2023
The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. It’s generating concern among mortgage and real estate trade groups, who fear the tweaks will hurt qualified borrowers amid an existing affordability crisis.
Housing Wire
JANUARY 9, 2023
The housing market saw inventory fall 4% last week from the week before. That’s a big one-week change. Does that mean we are heading back to all-time lows in inventory again for 2023? Traditionally, we do see housing inventory fall in the month of December, however, we clearly saw in the second half of 2022 that higher rates created more days on the market and inventory was lingering longer.
Housing Wire
JANUARY 20, 2023
On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. And existing home sales crashed in 2022 from a peak of around 6.5 million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S. housing market , we just experienced an event that most people never thought could happen.
Housing Wire
JANUARY 12, 2023
This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Housing Wire
JANUARY 16, 2023
Here’s the rundown for the last week: Purchase application data has stabilized — the bleeding stopped. Housing inventory increased by 1,339 homes nationwide. This is a small number but could be the start of an important trend. Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. 20. The weekly data shows some good news for the housing market !
Housing Wire
JANUARY 12, 2023
The housing inventory shortage dominated much of the conversation surrounding the housing market in 2022, but thanks to softening homebuyer demand, the number of active listings finished the year up 54.7% compared to the year prior, according to Realtor.com’s December Housing Report. Despite this sizable yearly increase, active housing inventory was down 33.4% compared to December 2019 and 38.2% compared to the December 2017-2019 average.
Housing Wire
JANUARY 12, 2023
Today’s inflation data has shown that the peak growth rate of inflation is behind us. This should also mean mortgage rates hit their highs. The key phrase I have stressed since I wrote about the case for mortgage rates to go lower on Oct. 27 is thinking 12 months out. The trend is your friend, and the month-to-month data has cooled off noticeably. That cooling happened even with the biggest inflation component — shelter inflation — still rising in the lagged modeled CPI data.
Housing Wire
JANUARY 4, 2023
This article is part of our 2022 – 2023 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Housing Wire
JANUARY 11, 2023
Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . “I’ve had five people contact me in the last week or so to talk about buying a new home, which is much better than a month or two ago,” Rochelle Gano , a Vancouver, Washington-based loan officer at Movement Mortgage , told HousingWire. “It seems like, with every
Housing Wire
JANUARY 4, 2023
The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. It represented the lowest level of activity in 27 years. “With mortgage rates still well above 6% and the threat of a recession looming, mortgage applications continued to decline over the past two weeks to the lowest level since 1996,” Joel Kan, Mortgage Bankers Association ‘s vice president and deputy chief economist, said in a statement.
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