Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean
BiggerPockets
APRIL 25, 2023
New mortgage rules set by the FHFA sent the investing community into panic. But what do these new rules actually mean?
April, 2023
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Housing Market Tracker: Inventory finally rises
Housing Wire
APRIL 23, 2023
Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. We didn’t see too much volatility in mortgage rates last week, but purchase apps declined in reaction to rates rising two weeks ago.
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3 Things An Appraisal Should Tell You That You May Not Know
Cleveland Appraisal Blog
APRIL 11, 2023
With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? With a few quick online searches, in most areas, you can find the parcel number, legal description, and even some potentially comparable sales. Isn’t that all that appraisers do? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value?
Industry Decoded: Commissions lawsuits could give portals an edge
Real Estate News
APRIL 13, 2023
The outcome of the Moehrl suit could affect countless buyer agents. Might Zillow and other portals become an Uber-style marketplace for those agents?
Leaving California. Some fresh migration stats.
Sacramento Appraisal Blog
APRIL 25, 2023
Leaving California. That’s a buzzworthy topic. Let’s talk about migration today. I have lots of visuals and a few resources to share in case you’re in a different state and looking for data. I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 5/4/23 Housing Market Q&A 12-2pm 5/10/23 Empire Home Loans event TBA […] The post Leaving California.
Opendoor lays off 22% of its workforce in latest round of cuts
Inman
APRIL 18, 2023
In total, the company cut 560 positions, according to a statement Opendoor provided to Inman. The cuts, which were announced internally Tuesday morning, primarily focused on operations roles.
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Wage growth downtrend kills 1970s inflation fear
Housing Wire
APRIL 7, 2023
Given Friday’s job report , those who have been concerned with entrenched 1970s inflation — which would lead to double-digit mortgage rates — can put their disco shoes back in the closet. I have tried to explain that the 1970s inflation isn’t a reality , and Friday’s report should ease the fear that wage growth is spiraling out of control.
Benefits Of Using a Realtor to Buy Land In 2023
Cleveland Appraisal Blog
APRIL 26, 2023
Hello friends! With a shortage of housing inventory persisting, some are resorting to building their own home. But to do so, you need land. This week, I welcome back guest blogger, Ashley Rodriguez with bins4less , who wrote this article for the Cleveland Appraisal Blog. I hope you enjoy it! Buying land can be a complicated and sometimes tiring process for an individual to take on all by themselves.
Newer brokerages take top spots in Mega 1000 rankings
Real Estate News
APRIL 25, 2023
Several of the top brokerages in T3 Sixty's Mega 1000 list were founded after 2000, including top-ranking Compass.
The housing market is hot again (sort of)
Sacramento Appraisal Blog
APRIL 5, 2023
The market is hot again. Sort of. We’ve been seeing a spring seasonal market for a few months, but we seemed to hit an inflection point locally a few weeks ago, and it’s getting REALLY competitive out there. Let’s talk about it. This is a longer post, so scroll by topic or digest slowly. UPCOMING […] The post The housing market is hot again (sort of) first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Regulation Innovation Stagnation?
George Dell
APRIL 26, 2023
Current efforts in the regulation of appraisal quality and fairness are fettered by obsolete appraisal methods. Traditional appraisal methods were designed to tackle sparse, subjective, non-electronic data. These vintage practices enable bias, hinder diversity initiatives, and conceal risk quantification. We have written about the “Five Frictions” hindering improvement in regulated appraisal valuation.
Where Are You Spending Your Time?
The Appraiser Coach
APRIL 25, 2023
If you’ve ever read about the 5 Love Languages by Gary Chapman, you know that, for must of us, there are particular things that make each of us feel loved.
Housing Market Tracker: Mortgage rates drop almost 1%
Housing Wire
APRIL 9, 2023
The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. The 10-year yield finally broke below a critical technical level it had difficulty breaking for many months and we had a very small increase in inventory.
Mistakes To Avoid While Buying Traditional Wall Art for Your Living Room
Cleveland Appraisal Blog
APRIL 19, 2023
Hello friends! I hope you’re doing well! Are you staging a home, or just looking to freshen up your place? This week I welcome back guest blogger Ashley Rodriguez, with bins4less , who wrote this article for me to share with you. She shares some things to think about regarding traditional wall art. I hope you enjoy this article! Decorating your living room with traditional wall art is a great way to infuse some personality and character into your home.
Nation’s largest homebuilder brings some heat to a cool spring
Real Estate News
APRIL 20, 2023
DR Horton, seen as a “heat check” for the housing industry, blew past analyst expectations with its Q2 profits and offered an encouraging take on spring.
Real estate dreams & getting ridiculous under $500K
Sacramento Appraisal Blog
APRIL 11, 2023
The housing market feels like a reality TV show. New sensational drama every week, juicy gossip, strong opinions, emotions, and big cliffhangers that might affect the future. Anyway, today I want to dig into Dream For All and some of the bigger themes right now (monthly recap stats at the bottom). Scroll by topic or […] The post Real estate dreams & getting ridiculous under $500K first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
No Time for Time Adjustment?
George Dell
APRIL 12, 2023
Appraiser credibility continues to decay over time. Even during the great runup in prices, and now the spotty, often rapid rundown in prices – residential appraisers mostly turned a blind eye to the need for this critical “time adjustment.” Non-residential appraisers have yet to see the coming value shifts. Shamefully, a time adjustment, (or market […] The post No Time for Time Adjustment?
Do What You Love, and Love What You Do
The Appraiser Coach
APRIL 18, 2023
Today I want to share a principle that I am very passionate about; this principle drives everything that I do! The principle is that people thrive when they love what.
Housing Market Tracker: Inventory falls even lower
Housing Wire
APRIL 16, 2023
The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Purchase application data rose again, with more positive than negative data in 2023. Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number.
Wall Street Bonuses Fall To Pre-Pandemic Levels
Miller Samuel
APRIL 1, 2023
The Office of the New York State Comptroller released its analysis of Wall Street Bonuses for 2022 last week. The real estate industry used to go gaga over this report before the housing bubble. But now, with so many bonuses received as deferred compensation or in a non-cash format, the Manhattan housing market no longer sees an immediate surge in demand when bonuses are announced.
Hot or not: Where the market is going this summer and beyond
Real Estate News
APRIL 10, 2023
With inventory low and interest rates elevated, economists don’t expect to see activity pick up until later in the year.
Affordability Pyramid Shows 64.8 Million Households Cannot Buy a $250,000 Home
Eyes on Housing
APRIL 5, 2023
As described in a previous post, NAHB’s recently released its 2023 Priced-Out Estimates, show that 96.5 million households are not able to afford a median priced new home, and that an additional 140,436 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how many households have.
Is the Definition of Market Value Outdated? Part III
George Dell
APRIL 5, 2023
Editor’s Note: This is Part 3 of Bruce Hahn’s series on Is the Definition of Market Value Outdated? In Part One and Part Two we asked why the current definition of market value has been around without change for so long? We focused on item 4 in the current definition of market value which says: […] The post Is the Definition of Market Value Outdated?
Who Are You Surrounding Yourself With?
The Appraiser Coach
APRIL 11, 2023
When I was on my quest to learn what I call the “principles of prosperity,” there was one in particular that helped me progress by leaps and bounds when I.
Housing inventory still near record lows
Housing Wire
APRIL 20, 2023
We only have 2.6 months’ worth of housing inventory in the U.S. after coming off the single biggest home-sales crash year in history. That is where we are today in America. As expected, existing home sales fell from February to March since the previous month’s report was intense. We have a workable range for 2023 sales in the existing home sales market between 4 million and 4.6 million.
Rising spring prices and appraisers checking the “declining” box
Sacramento Appraisal Blog
APRIL 19, 2023
The housing market has really started to heat up lately, and today I want to talk about how I’m thinking about prices right now. I also have some thoughts about checking the “declining” box. Scroll by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 5/4/23 Housing Market Q&A 12-2pm 5/10/23 Empire Home Loans event TBA 5/18/23 SAFE […] The post Rising spring prices and appraisers checking the “declining” box first appeared on Sacramento Appraisal Blog | Real Est
Redfin cuts more than 200 positions
Real Estate News
APRIL 13, 2023
The brokerage's real estate support division was the hardest hit in this third round of layoffs since June.
Lower Rates Spark Housing Demand
Eyes on Housing
APRIL 24, 2023
The retreat in mortgage interest rates during the first quarter of 2023 (from the 20-year peak reached in the fall of 2022) led a record share of adults in the US – 18 percent – to declare having plans to buy a home within a year – the largest share since the inception of this series in 2018. The finding.
Homepoint to shut down originations biz, sell assets to The Loan Store
Housing Wire
APRIL 7, 2023
Shrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store , the company announced on Friday. Michigan-based Homepoint is “winding down” its tenure as a direct participant in the mortgage origination business and becoming an investor in the market, as the company will hold an equity interest in The Loan Store.
Housing Market Tracker: Spring inventory grows
Housing Wire
APRIL 30, 2023
The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The fear of not having an increase in inventory this spring should be put to rest. The other focus should be where mortgage rates go; only a little happened last week. Here’s a quick rundown of the last week: Active listing rose 8,260 week to week, down a bit from last week’s gain, but I’m not complaining — anything on the plus side is positive.
Record apartment supply is good for mortgage rates
Housing Wire
APRIL 18, 2023
What is the best news for mortgage rates long-term? It’s getting more supply of apartments! The best way to fight inflation is always by adding more supply; if your goal is to destroy inflation by killing demand, that is only a temporary fix. Housing inflation post-2020 was one for the record books, not only because home prices accelerated in such a short time, but more importantly for the inflation data, rents took off, something that didn’t happen during the housing bubble years.
Housing Market Tracker: Still no spring inventory lift
Housing Wire
APRIL 3, 2023
Last week was relatively calm for the housing market after the fiasco of the banking crisis. Housing demand grew and inventory levels fell again while mortgage rates rose. Here’s a quick rundown of the last week: The 10-year yield battle continues as bond yields rose early in the week only to close below 3.50% on Friday. Mortgage rates rose to 6.57%.
New home sales proving Wall Street was wrong
Housing Wire
APRIL 25, 2023
Why are the homebuilder stocks up so much? Don’t they know the new home sales apocalypse is here? You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? According to this theory, we have more homes under construction than any time in history. The truth is, it’s not 2008 all over again. I understand the lure of the housing 2008 story.
Mortgage rates decline amid expectation of economic slowdown
Housing Wire
APRIL 6, 2023
Mortgage rates fell again this week, but the primary cause was not the banking crisis fiasco. It was the expectation that the U.S. economy is slowing down. According to Freddie Mac ’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage declined to 6.28% as of April 4, down from 6.32% the previous week. The survey focuses on conventional and conforming loans for borrowers who put 20% down and have excellent credit.
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