Housing Wire

APRIL 20, 2022

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S. from 2012 to 2021. This represents less than 1% of the estimated potentially eligible population of 70,000 veterans, the watchdog agency said.

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Sacramento Appraisal Blog

APRIL 25, 2022

Do you feel that? It’s change. The housing market is still elevated, but there’s no mistaking a different temperature – especially over the past week. STUFF ON MY MIND: This is designed to scroll quickly or digest slowly. The goal is to highlight stats and things I’m watching. An elevated market with a shift in […].

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Miller Samuel

APRIL 14, 2022

For each issue of Elliman Magazine produced by Douglas Elliman , the same company that publishes most of our U.S. market research , I write a brief column and create a graphic to illustrate an important issue facing the luxury housing market. Of course, the graphic I create is then supercharged by their very talented graphics staff. Listing inventory has essentially collapsed in most U.S. housing markets as unusually low rates against the backdrop of robust economic conditions have burned off su

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Appraisal Buzz

APRIL 18, 2022

This article was first published in the Appraisal Buzz Magazine. If you have shared a story with us in the past that was never published, please resend it. Your story could be one of the best this time around! Send your stories to comments@appraisalbuzz.com. Have you ever walked away from a day thinking, “No one’s EVER going to believe this!” Well, we want to hear all about it!

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George Dell

APRIL 6, 2022

The messenger. Psychology research easily points out our tendency to dislike the bearer of bad news. It’s also intuitive. Bad news messengers do not smile when they bring the news. Sometimes they even look guilty. We humans can be really basic. We see a correlation between the bad news, the frown, and the messenger. Appraisers […]. The post Bias: Blame the Messenger?

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Cleveland Appraisal Blog

APRIL 21, 2022

It’s tax appeal season and I’ve had several homeowners say that they feel their neighbors are negatively impacting the value of their home for different reasons. Is that the case? Can that be the case? Let’s talk about it. The homeowners of one property stated that their neighbors are a nuisance. My clients said that one of their neighbors has people coming and going until late in the evening, most evenings.

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Sacramento Appraisal Blog

APRIL 5, 2022

I have two things on my mind today. Scott Peterson’s house hit the market. And price growth has been raging so far in 2022. Let’s talk about this. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm. We’ll talk through choosing comps, making adjustments, and lots of practical scenarios. […].

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The Appraiser Coach

APRIL 5, 2022

One Saturday morning, I found myself in front of the computer, punching numbers. While I was sitting there, staring at my screen, willing this task to end, I had a. Read More.

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Appraisal Buzz

APRIL 6, 2022

Today’s Buzzcast interview is with Dave Stevens, CEO of Mountain Lake Consulting and Luke Tomaszewski, CEO of Proxy Pics. We sat down with Dave, Luke, and Joan Trice, Founder of Allterra Group, LLC to discuss the 3,000 foot view on housing finance, what’s happening next in the appraisal industry, and learning more about the future of technology in the appraisal industry.

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Eyes on Housing

APRIL 18, 2022

Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability. Builder confidence in the market for newly built single-family homes moved two points lower to 77 in April, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

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George Dell

APRIL 27, 2022

The current residential form (the URAR) neighborhood section is well designed – for data the way it was 40 years ago, filled in on a typewriter, with no software ability to summarize, graph, or map data. Do We Need a Neighborhood Section? Part I is here. As complete market data was rarely available, (and difficult […]. The post Do We Need a Neighborhood Section?

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Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. “I had not done first mortgage lending before, but I was familiar with the basics of rea

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Sacramento Appraisal Blog

APRIL 18, 2022

Could you live in a tiny home? Or what about a skinny home? I’m talking where walls range anywhere from eight feet to twelve feet wide at their maximum. Well, let’s talk about a super thin unit that sold recently in Sacramento. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm. We’ll […].

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The Appraiser Coach

APRIL 26, 2022

Let’s talk about ponies. No, not the hairy little animals that run around your yard and play with your kids. This pony is an acronym, spelled POINII. You’ve heard me. Read More.

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Appraisal Buzz

APRIL 22, 2022

The post The Old Lady Who Lived in a Shoe… and Needed an Appraisal appeared first on Appraisal Buzz.

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Appraisal 370

Eyes on Housing

APRIL 13, 2022

According to the latest Producer Price Index (PPI) report released today by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 1.4% in March, following an upwardly revised increase of 2.2% in February and 4.1% in January. This adds up to an 8% jump in building materials prices since the start.

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George Dell

APRIL 20, 2022

Traditional appraisal says we should describe and analyze the subject neighborhood. In residential form reports, there is a section devoted to the neighborhood. In general narrative reports, there is a section devoted to the neighborhood. In fact, often there is great discourse about the town, the city, and greater things. We have often heard criticism […].

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Appraisal 195

Housing Wire

APRIL 13, 2022

Mortgage application volume dropped 1.3% for the week ending on April 8, from the previous week, as mortgage rates eclipsed the 5% mark. Refinance applications fell 5% from the prior week and 62% from the same week a year ago, according to the Mortgage Bankers Association ‘s weekly survey. “Mortgage rates have spiked more than 1.5 percentage points thus far in 2022,” Mike Fratantoni, MBA’s senior vice president and chief economist, said in a statement.

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Sacramento Appraisal Blog

APRIL 11, 2022

Do you feel it? The temperature of the housing market has started to change. Let’s talk about what’s going on, and what this means and doesn’t mean. I’d love to hear your take in the comments. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm. We’ll talk through choosing comps, making adjustments, […].

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Housing Market Marketing Appraisal Mortgage 416

The Appraiser Coach

APRIL 19, 2022

Toward the beginning of the Covid-19 pandemic, I heard a lot of people who said something like, “Dustin, I think that there’s going to be a lot more flexibility because. Read More.

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Inspection Advertising Business Real Estate Agent 195

Appraisal Buzz

APRIL 22, 2022

Rapidly rising mortgage rates are worsening affordability challenges that have been brought on by record home value growth. According to the March Zillow Real Estate Market Report, monthly mortgage payments on the typical U.S. home are 19.5% higher than they were three months ago, and 38% higher than a year ago. Despite this, the pace … The post Home Value Forecast Predicts Slowdown in Growth appeared first on DSNews.

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Eyes on Housing

APRIL 19, 2022

Single-family starts permits declined in March, as higher interest rates weighed on housing affordability and produced a fourth straight decline for the NAHB/Wells Fargo HMI. Additionally, the cost and availability of materials, lumber, labor and lots remain key supply-side headwinds. Nonetheless, the resale market lacks inventory supporting ongoing demand for new construction.

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George Dell

APRIL 13, 2022

EBV measures markets, rather than compares comps. In the traditional appraisal process, the appraiser ‘picks some comps’, then adjusts any differences in each comparable to the subject feature. In EBV (Evidence Based Valuation©), the analyst identifies all the competitive sales, then applies predictive algorithms. Which system is more USPAP compliant?

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Appraisal Process Valuation Appraisal Marketing 195

Housing Wire

APRIL 11, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Wait, what? But we have a housing shortage, right? Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built

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Inventory Housing Market Marketing Modernization 514

Housing Wire

APRIL 15, 2022

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. This topic is something very near and dear to my heart because going back to the summer of 2020, I have said that one of the only factors that could cool down the housing market was the 10-year yield getting over 1.94%, which would result in higher mortgage rates.

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Housing Market Marketing Mortgage Inventory 511

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies. For now, only borrowers financially impacted by the pandemic can opt for the loss mitigation option, and it may only be used in combination with a partial claim option.

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Housing Wire

APRIL 20, 2022

The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 million. However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. However, hope for a balanced market is real this year because, with higher rates, we should see more days on the market coming up and growth in the inventory data.

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Housing Market Marketing Inventory Mortgage 505

Housing Wire

APRIL 6, 2022

Nearly 65% of homeowners planning to sell this year expect to list by the end of summer, which should provide a much-needed influx of inventory that should slow the explosive home price growth seen during the pandemic, according to a Realtor.com survey of prospective sellers. Realtor.com Wednesday released the results of the online survey of 3,000 consumers conducted in February by HarrisX.

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Housing Wire

APRIL 5, 2022

Home price appreciation in February climbed 20% over the previous year, marking the 12th month of consecutive double-digit gains , according to figures released Tuesday by real estate analytics firm CoreLogic. Although low inventory continues to drive up prices, CoreLogic ’s forecast suggests home appreciation should finally hit its stride and slow down to about 5% in the coming year , according to a news release from the company. .

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Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. Karl Jacob, CEO and co-founder of LoanSnap , said the cyrpto-mortgage system his company has developed can originate more than just loans that LoanSnap mints.

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Housing Wire

APRIL 20, 2022

Fannie Mae has lowered its mortgage origination forecasts for 2022 and 2023 due to the Federal Reserve’s (Fed) aggressive inflation-fighting monetary policy and corresponding volatility in the mortgage market. Fannie’s Economic and Strategic Research (ESR) Group dropped its projected single-family mortgage origination volume for 2022 from $3 trillion to $2.8 trillion.

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Technology Mortgage Contracts Real Estate 476

Housing Wire

APRIL 13, 2022

Phishing remains the go-to attack for hackers targeting the mortgage and real estate industries. Loan officers and mortgage executives alike continue to click on links in seemingly routine emails, ultimately giving bad actors complete access to lenders’ systems and mortgage transactions. Such mistakes can cost companies millions of dollars and expose sensitive data from millions of customers.

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Housing Wire

APRIL 13, 2022

In this HW+ Slack Q&A , HousingWire Lead Analyst Logan Mohtashami gives the inside scoop on where rates are headed, his insights on the latest economic reports and more. As a member of HW+, you can us join for regular 30-minute Slack Q&As, where we invite the HW Media newsroom to break down the hottest topics in the industry. The Q&A was hosted in the HW+ Slack channel, which is exclusively available to members.

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Housing Market Marketing Mortgage Inventory 476

Housing Wire

APRIL 4, 2022

South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. . Pink slips are arriving to between 165 and 170 operational employees across the country, including professionals in the processing, underwriting and closing areas, multiple company sources told HousingWire. .

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