Housing Wire
JANUARY 10, 2022
This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 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.
Appraisal Buzz
JANUARY 17, 2022
The housing market boomed in 2021 like few could have expected. What is on the horizon in 2022? Home prices are rising to record highs , and many policymakers and industry professionals have begun turning to building to ease shortages. Of course, the construction industry has been facing some pressing challenges, including hitches in global and national supply chains.
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Sacramento Appraisal Blog
JANUARY 4, 2022
What’s the real estate market going to do in 2022? Let’s talk about some of the emerging trends. Scroll quickly or digest slowly. Anything to add? January public speaking gigs: January 12: Top Producer Panel in Granite Bay (sold out) January 18: SAR Big Market Update (sign up here) January 19: PCAR WCR Big Market […].
The Appraiser Coach
JANUARY 18, 2022
In his classic novel Alice in Wonderland, author Lewis Carroll teaches an important principle through the character of the Cheshire Cat. Lost in the woods and faced with a crossroads, Read More.
Cleveland Appraisal Blog
JANUARY 28, 2022
Hello! I hope you’re having a great start to 2022! If you’re a regular reader of my blog, you know that I enjoy having guest bloggers write articles for the Cleveland Appraisal Blog. I’m also very appreciative for their doing so! I always enjoy the articles my guests write. With that said, this week I am happy to welcome back a regular guest to my blog, Jessica Brody!
Eyes on Housing
JANUARY 14, 2022
The prices of goods used in residential construction ex-energy climbed 1.5% in December (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The index was driven higher by large price increases for wood products. Building materials prices increased 15.9% in 2021 and have risen 18.6% since December 2020.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
JANUARY 14, 2022
Due to the explosion of real estate prices over the past few years, more are looking to diversify their investments by expanding into real estate. But not all real estate properties are a sound investment; those looking for the best “bang for their buck” must balance real estate prices with taxes, vacancy rates, insurance, and the list goes on. As … The post These Are The Best Cities for Real Estate Investment appeared first on DSNews.
Sacramento Appraisal Blog
JANUARY 10, 2022
Was last year the most aggressive housing market we’ve ever had? I’m going to go out on a limb and say HECK YES based on the stats. But what do you think, whether you’re local or in a different market? January public speaking gigs: January 12: Top Producer Panel in Granite Bay (sold out) January […].
The Appraiser Coach
JANUARY 25, 2022
Idaho is a gorgeous state! I live in the backyard of the Teton Mountain Range and Yellowstone National Park, and I love going to the hills. Hiking through groves of. Read More.
Cleveland Appraisal Blog
JANUARY 13, 2022
Are you a skeptical person? At times, I suffer from moments of skeptical thinking. If you’re an appraiser, like I am, the nature of our work can at times cause us to become skeptical. A homeowner or agent may appear to exaggerate information they share about a home. It could be with regards to improvements made to a property, minimizing a significant repair, or overblowing a minor repair.
Eyes on Housing
JANUARY 25, 2022
Only 15% of buyers were looking for a newly-built home at the start of 2018, but that share shot up to 42% by the final quarter of 2020 (after the start of the pandemic). Since then, however, interest for new construction has fallen steadily, as costs for building materials – especially lumber – have experienced double-digit growth. By the final.
Housing Wire
JANUARY 3, 2022
Homeownership continues to swerve into unaffordable territory, with median-priced single-family homes becoming less affordable in three-quarters of the nation’s market, a report published by ATTOM Data Solutions last week said. Per the report , between October to December 2021, median home prices in 440 of the 575 counties analyzed by the data vendor saw notable home-price growth.
Appraisal Buzz
JANUARY 31, 2022
With an emphasis on the Golden State, investors in 2021 comprised the highest share of single-family home and condo sales nationwide since 2013. The post Institutional Investors Reach Seven-Year High in Home Purchases appeared first on DSNews. The post Institutional Investors Reach Seven-Year High in Home Purchases appeared first on Appraisal Buzz.
Sacramento Appraisal Blog
JANUARY 18, 2022
Do you ever feel like it’s going to be a good week? I’m definitely feeling that way as I finally got rid of a nagging cold that wouldn’t go away. I tested negative multiple times, so this really was a cold. But besides that, season four of Ozark is coming out on Friday, so I’m […].
George Dell
JANUARY 26, 2022
Obsolescence, in appraisal education, is of three types: functional, physical, economic. If we are to stop the obsolescence of the appraisal ‘professional’ model, it may help if we look at the established body of knowledge with this in mind. Recall our context. We are looking at the “five frictions” – process, standards, education, user expectations, […].
Housing Wire
JANUARY 7, 2022
Today, the Bureau of Labor Statistics reported that 199,000 jobs were created in December — a miss from estimates. They also reported we had 141,000 in positive revisions to the previous jobs report. The unemployment rate is currently at 3.9% and we had another big print from the household survey which showed 651,000 jobs gained. For men and women age 20 and over, the unemployment rate is currently at 3.6%.
Housing Wire
JANUARY 11, 2022
Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, according to the most recent CoreLogic Loan Performance Report. The expectation is that rates will continue to decline during 2022. In October, 3.8% of mortgages were delinquent by at least 30 days, including foreclosure, close to the 3.7% rate registered in the same period of 2019.
Housing Wire
JANUARY 6, 2022
A federal law mandates that Fannie Mae and Freddie Mac help households on moderate, low, or very low income. The government-sponsored enterprises must do this by setting a plan every three years, dubbed Duty to Serve, that provides lending liquidity and preservation goals for manufactured, rural, and affordable housing. But according to the Federal Housing Finance Agency , which has oversight power over Fannie and Freddie, the GSE’s must go back to the drawing board when it comes to their
Housing Wire
JANUARY 5, 2022
The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio. For second home loans, the upfront fees will increase between 1.125% and 3.875%, also tiered by loan-to-value ratio.
Housing Wire
JANUARY 11, 2022
Since its launch in August 2020, FinLedger has kept its pulse on the explosive and expansive sector of financial technology for thousands of readers. And now we’re ready for the next stage of FinLedger’s growth. As part of HW Media’s vision to cover All Things Housing, FinLedger will narrow its focus to proptech coverage, doubling down on a category of fintech that attracted $32 billion in investment in 2021 and yet is oft-overlooked by newsrooms.
Housing Wire
JANUARY 10, 2022
HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays. HousingWire: What are some unexpected things that can delay a home closing? Tom Kriby: Everyone knows home inspections and appraisals can hold up a closing, but insurance is another possible roadblock for an on-time closing.
Housing Wire
JANUARY 6, 2022
The average 30-year fixed rate mortgage increased to 3.22% during the week ending Jan. 6, up from 3.11% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.65%. The 15-year fixed rate mortgage averaged 2.43% last week, up from 2.33% the week prior. A year ago at this time, it averaged 2.16%.
Housing Wire
JANUARY 6, 2022
This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for next year, along with a roundtable discussion on how these insights apply to your business.
Housing Wire
JANUARY 13, 2022
The average 30-year fixed rate mortgage increased to 3.45% during the week ending Jan. 13, up from 3.22% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.79%. The 15-year fixed rate mortgage averaged 2.62% last week, up from 2.43% the week prior. A year ago at this time, it averaged 2.23%.
Housing Wire
JANUARY 18, 2022
Milo , a Miami-based digital lender, will soon offer a crypto mortgage to clients with digital assets. And the company claims that there is already a waitlist for the product. According to Milo’s press release , clients who use the company’s services can pledge their Bitcoin to purchase a property. The company notes that this way, homebuyers can continue to own their Bitcoin and diversify into real estate, while potentially pocketing the price appreciation of both.
Housing Wire
JANUARY 19, 2022
Today, the U.S. Census Bureau reported that housing starts came in as a beat at 1.702 million for December. The more critical number of housing permits came in too strong at 1.873 million. You always want to be skeptical of any housing starts data that comes in too strong or too negative from the trend, and we had some specific factors in this report that boosted multifamily construction.
Housing Wire
JANUARY 5, 2022
Some Federal Housing Administration -approved mortgage servicers have routinely flouted the agency’s loan modification program, according to Washington, D.C. Attorney General Karl Racine and 20 other state attorneys general. The attorneys general wrote in a Dec. 21 letter that a number of mortgage servicers employed by FHA-approved lenders failed to adequately implement loan modification options the FHA introduced in July.
Housing Wire
JANUARY 13, 2022
This article is part of our Housing 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 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, 2022
Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing. The acquisition is intended to enable Seattle-based Redfin to expand its loans products nationally, as it wants to be a one-stop-shop for brokerage and lendin
Housing Wire
JANUARY 27, 2022
The average 30-year-fixed rate mortgage declined one basis point from the week prior to 3.55% during the week ending Jan. 27, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Most economists believe rates will continue to climb in the weeks and months ahead. “Following a month-long rise, mortgage rates effectively stayed flat this week,” Sam Khater, Freddie Mac’s chief economist, said in a statement.
Housing Wire
JANUARY 21, 2022
Despite the expected rise in interest rates, the single-family housing market will continue to be boom in 2022, according to a report published by Freddie Mac this week. Sam Khater, chief economist at Freddie Mac, said in a statement that the “combination of a large number of entry-level homebuyers facing a shortage of entry-level inventory of homes for sale should keep the housing market competitive.”.
Housing Wire
JANUARY 20, 2022
The average 30-year-fixed rate mortgage climbed to 3.56% during the week ending Jan. 20, rising from 3.45% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Most economists believe rates will continue to climb in the weeks and months ahead. “Mortgage rates moved up again as the 10-year U.S.
Housing Wire
JANUARY 11, 2022
RE/MAX Holdings CEO Adam Contos is stepping down effective March 31, 2022. While the company plans to form a CEO search committee, Board Member Stephen Joyce will be appointed Interim CEO. Contos and Joyce will serve as co-CEOs beginning March 1. Nick Bailey will continue to lead RE/MAX LLC as president and CEO. Ward Morrison company’s Motto Mortgage operations.
Housing Wire
JANUARY 26, 2022
Today the Census Bureau ‘ s new home sales report came in as a beat of estimates at 811,000. The headline beat surprised many people, but the report’s internals show negative revisions for the previous months. The bearish take on housing for the second half of 2021 didn’t really pan out, especially in the new home sales sector. What I believe occurred is that some housing investors took the decline in builders confidence and the increase in monthly supply to push that something bad was going to
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