Eyes on Housing
FEBRUARY 9, 2023
Mirroring a steep rise in mortgage rates that began in the early part of 2022 and coupled with ongoing building material supply chain bottlenecks that increased construction costs, housing affordability posted three consecutive quarterly declines in 2022 and now stands at its lowest level since the National Association of Home Builders (NAHB) began tracking it on a consistent basis in.
Housing Wire
FEBRUARY 22, 2023
Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I can’t provide any specifics but we announced in January strategic plans to create a more focused Home Lending business,” Tom Goyda, senior vice president of consumer lending communications at Wells Fargo, said in an e-mailed response.
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George Dell
FEBRUARY 8, 2023
Multiple regression works very well under some conditions. We ask: Are these conditions true in most real property valuations? This is actually a vast topic, so we can only reflect on some of the conditions or assumptions which are required for a multiple regression to be valid. Much (if not all) “advanced” appraiser education makes […] The post Ban Multiple Regression?
Sacramento Appraisal Blog
FEBRUARY 7, 2023
There is so much talk about buyers sitting on the sidelines right now, but let’s talk about sellers who are also sitting. This is a local trend, but it’s something showing up in many markets across the country also. UPCOMING (PUBLIC) SPEAKING GIGS: 2/8/23 SAFE Credit Union “Snacks & Facts” (for RE) (register here) 3/06/23 […] The post Sellers have been sitting out of the housing market too first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
Real Estate News
FEBRUARY 19, 2023
You can fix up a house — but you can't fix the neighbors. Despite the horror stories, there are a few ways to prevent neighbor woes from ruining a sale.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
FEBRUARY 21, 2023
Even though the extreme seller's market is in the rearview mirror, disgruntled clients have been filing more lawsuits against their agents, according to an analysis by Victor Insurance Managers.
Housing Wire
FEBRUARY 13, 2023
The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. Here is a quick rundown from last week : Purchase application data had a 3% week-to-week increase. The start of 2023 has been good, considering mortgage rates have stayed above 6% most of the time. Weekly housing inventory continues to decline, as we saw a decrease of 13,238 units, double the amount we had this time last year.
Eyes on Housing
FEBRUARY 6, 2023
The median age of owner-occupied homes is 40 years, according to the latest data from the 2021 American Community Survey[1]. The U.S. owner-occupied housing stock is aging rapidly especially after the Great Recession, as the residential construction continues to fall behind in the number of new homes built. With a lack of sufficient supply of new construction, the aging housing.
Sacramento Appraisal Blog
FEBRUARY 14, 2023
There is so much talk about the housing market bottoming out, and I want to give some perspective on what to watch for. I hope this helps. UPCOMING (PUBLIC) SPEAKING GIGS: 3/06/23 Matt the Mortgage Guy YouTube Live 3pm PST 3/08/23 Matt Gouge Event TBD 3/10/23 PCAR Market Update Lunch & Learn 3/28/23 Downtown Regional MLS meeting […] The post Looking out for two housing market bottoms first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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Real Estate News
FEBRUARY 21, 2023
Florance, founder and CEO, made the announcement during a Q4 earnings conference call Tuesday, which also highlighted the company's revenue gains.
The Appraiser Coach
FEBRUARY 28, 2023
Principles are tremendously important tools we can use in our lives to affect change. A principle is an eternal truth. It can be applied across all circumstances, all times, all.
George Dell
FEBRUARY 22, 2023
To regulate or improve something, you first measure it. The word credible appears in the most recent version of USPAP (©1999) some 276 times. The Uniform Standards of Professional Appraisal Practice as published from time to time by the Appraisal Foundation. The word credibility is used an additional 39 times, specifically as a measure of […] The post Measure Credibility?
Housing Wire
FEBRUARY 16, 2023
Looking at the latest NAHB/Wells Fargo homebuilder confidence data and builder stock prices, I can say the homebuilders got very lucky this time around in the middle of a housing recession. There is one simple reason for this: it’s not 2008. They have less competition as they are working from low sales levels in today’s housing market. The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the b
Inman
FEBRUARY 28, 2023
New data from John Burns and Redfin shows that investor activity slowed toward the end of 2022 but still accounted for about a quarter of home sales. That's up from about 11 percent in 2001.
Sacramento Appraisal Blog
FEBRUARY 27, 2023
Did prices really go up in February? What’s happening in this market? Today I have a few things on my mind. Scroll by topic or digest slowly. I hope this helps – whether you’re local or not. UPCOMING (PUBLIC) SPEAKING GIGS: 3/06/23 Matt the Mortgage Guy YouTube Live 3pm PST 3/09/23 Matt Gouge Event (sign up here) […] The post Prices went up & worst volume ever first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Real Estate News
FEBRUARY 20, 2023
The rental market is massive. Between investor purchases and property management, it can be a lucrative business for brokerages — and a source of buyer leads.
The Appraiser Coach
FEBRUARY 21, 2023
I’ve recently been looking into real estate as an investor, and I found a rental property relatively close to my home that looked pretty promising. It was advertised as a.
George Dell
FEBRUARY 15, 2023
Editor’s Note: This is Part 6 of the series on Neighborhood. We’re told we should analyze a neighborhood. This is mostly a residential concept. For non-residential appraisal the focus is often a “district” – a group of similar property uses. (Rather than a group of complementary uses.) In previous Analogue Blogs, we have looked at […] The post Measure the Neighborhood?
Housing Wire
FEBRUARY 23, 2023
When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders. But many may be surprised to learn that title and settlement professionals do so much more than conduct title searches, issue policies and process claims. As an industry, our commitment to protection goes beyond title insurance policies.
Eyes on Housing
FEBRUARY 3, 2023
Job growth rebounded in January. After declines for five consecutive months, total nonfarm payroll employment increased by 517,000 in the first month of 2023 and the unemployment rate hit a 53-year low at 3.4% as more people entered the labor market. Construction industry employment (both residential and non-residential) totaled 7.9 million and exceeds its February 2020 level.
Sacramento Appraisal Blog
FEBRUARY 21, 2023
The housing market is definitely heating up for the spring, but it still feels frozen with so many buyers and sellers sitting right now. I recently talked about sellers sitting out of the market, but today let’s look at buyers. UPCOMING (PUBLIC) SPEAKING GIGS: 3/06/23 Matt the Mortgage Guy YouTube Live 3pm PST 3/09/23 Matt Gouge Event […] The post The housing market is heating up & still frozen first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Real Estate News
FEBRUARY 16, 2023
Scott, chairman and CEO of John L. Scott Real Estate in the Pacific Northwest, said the market is poised to enter a new period of growth.
The Appraiser Coach
FEBRUARY 14, 2023
I recently celebrated an exciting milestone. I have officially gone one full year without eating sugar! Now that’s not 100% – everything has sugar in it these days. But I.
George Dell
FEBRUARY 1, 2023
Market, the word, is used over 2500 times in The Appraisal of Real Estate. And over 650 times in the current (2021-2024) version of USPAP. “Market” must matter! But what is it? “Market” has two main meanings which correspond to the definitions in The Dictionary of Real Estate Appraisal. One is a system to bring […] The post Market Target? appeared first on George Dell, SRA, MAI, ASA, CRE.
Housing Wire
FEBRUARY 6, 2023
Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. Let’s dive into the trend lines of the housing market. First, here is a quick housing market rundown from last week : Purchase application data was negative 10% week to week — but still positive for the year Housing inventory decreased by 8,664 units, a more extensive inventory decline than we saw in the prior week The 10-year yield had a wild week, and mortgage rates d
Eyes on Housing
FEBRUARY 17, 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that cash purchases made 11.2% of new home sales in the fourth quarter of 2022—the largest share since 1990. The share of cash purchases has climbed each of the past four quarters and six of the last seven. Although the median prices.
Inman
FEBRUARY 27, 2023
Taking an analog approach is a powerful way to focus the mind, reconnect with the body and devote full attention to the details of a particular client or task. For many, it also fuels creativity and helps them process and retain more information.
Real Estate News
FEBRUARY 21, 2023
Led by co-presidents OB Jacobi, Jill Jacobi Wood and Geoff Wood, the company continues to grow but strives to retain its family-oriented culture.
Realtor
FEBRUARY 13, 2023
Illustration by Realtor.com / Getty Images Getting a mortgage to buy a home is a process, with many hoops and hurdles to jump through and over before reaching the finish line. And this is particularly true for certain specialized loans, like those offered by the United States Department of Agriculture. USDA loans offer fantastic terms—including 0% down payments and low-interest rates—for homebuyers in rural areas, and while many assume they’re just for farmland, properties on 97% of U.S. l
Housing Wire
FEBRUARY 24, 2023
New home sales started off 2023 on a positive note, rising 7.2% from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. This marks the second consecutive month of increases and the strongest sales pace since March 2022.
Housing Wire
FEBRUARY 14, 2023
Given the hotter inflation reported in Tuesday’s CPI data , can mortgage rates go above the 2022 peak of 7.37%? Initially the 10-year yield fell after the report, then rose higher, only to fall back down again. For all the hype around today’s stock market close, it was a dud of a Valentine’s date if you ask me. A lot of times, on days when big economic reports are released, you can get wild intraday action but not have much happening by the end of the day.
Housing Wire
FEBRUARY 24, 2023
While the homebuilders weren’t surprised by the better-than-estimated new home sales report released Friday, some people were a bit shocked. But the forward-looking purchase application data was getting better from Nov. 9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%. Now, of course, that has all changed quickly. On CNBC Friday morning , I highlighted that whatever data stabilization we had at 5.99%, it’s now gone in the blink of an eye.
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