Appraisal Buzz
SEPTEMBER 5, 2022
This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The reality is there is no universal acceptance of a single method of measurement to differentiate “good” from “bad.
Housing Wire
SEPTEMBER 27, 2022
The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac , has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps. The plaintiffs, Fairholme Funds Inc., et al., are private-sector investors in Fannie Mae and Freddie Mac, which have been in conservatorship under FHFA oversight since the 2008 fin
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Sacramento Appraisal Blog
SEPTEMBER 14, 2022
Sellers have been chasing the ball down the road. What I mean is prices have been going down lately, and sellers are trying to find the market through price reductions. I can’t speak for the entire country, but I’d like to talk about what’s happening locally. I’m not writing as a housing bull or bear […].
The Appraiser Coach
SEPTEMBER 28, 2022
You may have heard that you can’t have opinions about the color of a room or shaggy carpet as you’re doing your job and walking through homes… that’s dead wrong. Read More.
Cleveland Appraisal Blog
SEPTEMBER 30, 2022
A flipbook is a book with a series of pictures that change slightly with the turn of each page. When flipping thru one of these books, the viewer’s mind fills in the gaps between pictures so that an animated story and picture develops. According to Wikipedia , the oldest documented flip book appeared on March 18th, 1868. At that time, it was patented by John Barnes Linnett.
Eyes on Housing
SEPTEMBER 12, 2022
The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering jobs lost earlier during the pandemic induced recession. Currently, women make up 11% of the construction workforce, up from 9.3% in 2002. As the construction skilled labor shortage remains a key challenge for housing, adding new workers.
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Housing Wire
SEPTEMBER 8, 2022
Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again. Are we really doing those types of loans and promoting homeownership again without understanding the risks?
Sacramento Appraisal Blog
SEPTEMBER 9, 2022
I love the original Back to the Future movie. Do you too? Well, I can’t help but think of today’s housing market compared to the film. Sellers have tended to be stuck in the past expecting the market to be hotter than it actually is right now. And some buyers are stuck in the future, […].
George Dell
SEPTEMBER 28, 2022
Editor’s Note: This is Part 3 of the series on Excess of Appraisers and how this cyclical phenomenon is affected by the five frictions of modernization. The emerging excess of appraisers is inevitable and recurring. We have questioned the first two of the five frictions on modernization: practices, standards, education, regulation and client expectation.
Cleveland Appraisal Blog
SEPTEMBER 2, 2022
Have you ever read thru an appraisal report? You may have noticed that there are three approaches to value. The Sales Comparison Approach, the Cost Approach, and the Income Approach. The Sales Comparison approach, as the name implies, compares the property being appraised to other properties that a potential buyer might consider as a substitute for buying the property being appraised.
Eyes on Housing
SEPTEMBER 19, 2022
In another sign that the slowdown in the housing market continues, builder sentiment fell for the ninth straight month in September as the combination of elevated interest rates, persistent building material supply chain disruptions and high home prices continue to take a toll on affordability. Builder confidence in the market for newly built single-family homes fell three points in September.
Appraisal Buzz
SEPTEMBER 30, 2022
A financial services veteran, Almodovar brings more than 30 years of finance, real estate, and community development expertise and a strong commitment to affordable housing. The post Priscilla Almodovar to Serve as Fannie Mae CEO appeared first on DSNews. The post Priscilla Almodovar to Serve as Fannie Mae CEO appeared first on Appraisal Buzz.
Housing Wire
SEPTEMBER 21, 2022
Housing construction in the U.S. during the brief COVID-19 recession, to that recovery, and now in the new housing recession, is going to go down in history as one of those crazy data lines we lived through. Just to give you some perspective here, at the peak of 2005, we had about 2.24 million housing completions in the monthly report. Today, even with over a decade of building growth, we are at 1.342 million.
Sacramento Appraisal Blog
SEPTEMBER 21, 2022
I’ve been getting asked lots of questions lately about choosing comps since the market shifted. Here are some things people have been asking me. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (Sign up here – On Zoom) 10/13/22 Market update in Midtown (details TBD) 10/20/22 How to Think Like an Appraiser (9am-12pm) (Sign up […].
Miller Samuel
SEPTEMBER 22, 2022
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Cleveland Appraisal Blog
SEPTEMBER 23, 2022
Hello! I hope you’re having a fantastic week! This week I am happy to welcome back guest blogger Shirley Martin. In this article, she offers some great tips on traveling between homes with our pets. I hope you enjoy it! Owning a home in another state can be a challenge with travel, organization, and house maintenance tasks. Another challenge for second homeowners is dealing with their pets.
Eyes on Housing
SEPTEMBER 15, 2022
The prices of building materials rose 0.5% in August (not seasonally adjusted) even as softwood lumber prices decreased 5.2%, according to the latest Producer Price Index (PPI) report. Building materials prices have climbed 4.9% through the first eight months of 2022 and 14.3% over the past year. The PPI for goods inputs to residential construction, including energy, decreased 0.9% in.
Appraisal Buzz
SEPTEMBER 29, 2022
The U.S. Department of Housing and Urban Development (HUD), in partnership with the U.S. Department of Veterans Affairs, today awarded $5 million in $1 million allotments to five non-profits in support of the Veterans Housing Rehabilitation and Modification Pilot Program (VHRMP). The awardees of the competitive grants were selected by HUD’s Office of Rural Housing … The post HUD Awards $5M for Repairing Low-Income Veteran’s Homes appeared first on DSNews.
Housing Wire
SEPTEMBER 13, 2022
The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because we hadn’t had a period where mortgage rates moved up so quickly and then held higher for an extended period.
Sacramento Appraisal Blog
SEPTEMBER 28, 2022
Housing trends are changing by the week, and it’s time to start believing the Fed when they talk about resetting the housing market. Let’s chat about this today, and I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (9am-10:15am Sign up here) 10/13/22 Market update in Midtown […].
George Dell
SEPTEMBER 21, 2022
Appraisers are paid for their thinking, as well as some other skills. If there is no thinking, it can be called an “Automated” appraisal. Thinking is defined as giving thought to consider or reason about something – using rational judgment. Thinking about thinking can cause discomfort. “What will people think of me — if my […]. The post Should We Think About Thinking?
The Appraiser Coach
SEPTEMBER 20, 2022
Before the COVID-19 pandemic began, my daughter was doing some volunteer work in South America, helping people who have been rescued from the human trafficking industry. She was down there. Read More.
Cleveland Appraisal Blog
SEPTEMBER 10, 2022
Hello everyone! This week I welcome guest blogger Andrea Gibbs. In this article, she offers some tips on how to transition a loved one to senior living. I hope you find her tips to be helpful! Turning retirement from a dream into reality is not an easy feat for seniors. Many transitions and adjustments will take place, including moving away from family and friends, coping with new routines, and learning to manage the daily activities of life.
Appraisal Buzz
SEPTEMBER 29, 2022
First American Financial Corporation, a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today released the July 2022 First American Real House Price Index (RHPI). The RHPI measures the price changes of single-family properties throughout the U.S. adjusted for the impact of income … The post Markets Considered Overvalued Increasing as Mortgage Rates Rise appeared first on DSNews.
Housing Wire
SEPTEMBER 8, 2022
Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. In response to falling origination volume, the New Jersey-based mortgage company has conducted at least four rounds of layoffs this year – in March, May and August, multiple sources told HousingWire.
Eyes on Housing
SEPTEMBER 12, 2022
Lot values for single-family detached housing starts in 2021 increased across the nation, with the national value and six out of nine Census division values setting new records. U.S. median lot price now stands at $55,000, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data.
George Dell
SEPTEMBER 14, 2022
What’s missing? Appraisal reform is focused on current ‘urgent’ issues. The problem is that some fundamental, underlying issues are not in focus! The concern is that it’s the underlying foundation that may be the core of the problem. Current (urgent) issues include: Bias: real and perceived Wide range of opinions of value Appraiser diversity: age […].
The Appraiser Coach
SEPTEMBER 13, 2022
A little over a year ago, I went on a vacation with my family to Glacier National Park. While we were there, we took everyone on a hike to St. Read More.
Miller Samuel
SEPTEMBER 22, 2022
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Appraisal Buzz
SEPTEMBER 29, 2022
In an effort to assist in the recovery after Hurricane Fiona made landfall, the Department has issued a new set of waivers offering regulatory and administrative relief to homeowners impacted in Puerto Rico. The post HUD Offers Assistance to Victims of Hurricane Fiona appeared first on DSNews. The post HUD Offers Assistance to Victims of Hurricane Fiona appeared first on Appraisal Buzz.
Housing Wire
SEPTEMBER 16, 2022
The U.S. House of Representatives this week passed a bill that streamlines the appraisal process for U.S. Department of Veterans Affairs mortgage loans. With the passage of HR 7735, known as the “Improving access to the VA home loan benefit Act of 2022,” the VA is now permitting desktop appraisals and in some circumstances, waiving appraisals altogether.
Eyes on Housing
SEPTEMBER 7, 2022
Despite the pandemic-triggered suburban flight and presumed shifts in preferences towards more spacious living, a rising share of new for-sale homes were built on smaller lots. According to the latest Survey of Construction (SOC), more than two thirds of new single-family detached homes sold in 2021 were built on lots smaller than one-fifth of an acre.
George Dell
SEPTEMBER 7, 2022
Neither Critical, nor Thinking as words together are found in USPAP. Nor are they found in my copy of The Appraisal of Real Estate! Must be important. What is it? Do we need it? Is it worth the effort? I realized that although I have been promoting critical thinking in my classes […]. The post Is Critical Thinking Really Necessary? appeared first on George Dell, SRA, MAI, ASA, CRE.
The Appraiser Coach
SEPTEMBER 6, 2022
A couple years ago, I went out and bought a new camping trailer. This trailer, like many other recreational 5th wheels, has a battery that powers it. But this battery. Read More.
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