Housing Wire

JUNE 17, 2021

Median home-sale prices hit yet another record high in May — up to $377,200, a 26% increase year over year. And 54% of homes sold above their asking price in May — another a record high, up from 26% a year ago, according to a new report from Redfin. The report also shows the housing market also set new records for home-selling speeds and competition, although seasonally adjusted home sales and new listings flattened from April.

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Appraisal Buzz

JUNE 14, 2021

Fannie and Freddie are slowly rolling back some of the COVID-era regulations that have facilitated getting appraisals done during the pandemic. Appraisers are starting to get one-off requests from Fannie and Freddie for more information and an interior inspection, even though the property already had a COVID-alternative accepted. This rush to return to the status quo has created buzz in the appraisal industry—a wish that Fannie and Freddie were talking to appraisers about how to make the apprais

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Appraisal Appraisal Process Technology Housing Market 435

Miller Samuel

JUNE 18, 2021

[click image for free registration]. I'm a Counselor of Real Estate (CRE) and wanted to share this. Join The Counselors of Real Estate on June 23 for the unveiling of the 2021-22 Top Ten Issues Affecting Real Estate ®. Now in its 10th year, this signature thought leadership initiative identifies the current and emerging issues expected to have the most significant impact on all sectors of real estate.

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Sacramento Appraisal Blog

JUNE 17, 2021

Are you taking a vacation this year? It seems like half my Instagram feed is in Hawaii right now. I’m not doing anything that big, but I did get back yesterday from a few days in Santa Cruz and it was just what I needed. Here’s a video of me longboarding… I guess I’m about […].

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Housing Market Marketing Real Estate Appraisal 368

Housing Wire

JUNE 14, 2021

Mortgages in forbearance fell for the 15th consecutive week last week to 4.04% of servicers portfolio volume ? a 12 basis point decline , according to a survey from the Mortgage Bankers Association. As of June 6, the MBA now estimates 2 million borrowers are still in some form of forbearance. Last week witnessed a steeper drop than in previous weeks, likely the result of many borrowers reaching their 15-month expiration date, said Mike Fratantoni, MBA’s senior vice president and chief econ

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Mortgage Investors 532

Appraisal Buzz

JUNE 18, 2021

While vaccine rollouts mean some things are returning to normal, changes in consumers’ priorities could linger. The post House Hunters’ Evolving Wants, Needs, and Willingness to Compromise appeared first on theMReport.com. The post House Hunters’ Evolving Wants, Needs, and Willingness to Compromise appeared first on Appraisal Buzz.

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Appraisal 370

Eyes on Housing

JUNE 17, 2021

Prices paid for goods used in residential construction ex-energy rose 3.6% in May (not seasonally adjusted) and have increased 16.5% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019.

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Construction 195

Housing Wire

JUNE 16, 2021

After three straight weeks of declines , mortgage applications increased 4.2% for the week ending June 11, 2021, according to the latest report from the Mortgage Bankers Association. Both purchase and refinance applications increased, with refinances notably up 5.5%, according to Joel Kan, the MBA’s vice president of economic and industry forecasting. “The jump in refinances was the result of the 30-year fixed rate falling for the third straight week to 3.11%, which is the lowest since ear

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Appraisal Buzz

JUNE 17, 2021

Freddie Mac’s latest Primary Mortgage Market Survey (PMMS) shows that the 30-year fixed-rate mortgage (FRM) averaged 2.93 percent for the week ending June 17, down from 2.96 percent a week earlier. A year ago at this time, the 30-year FRM averaged 3.13 percent. The PMMS also shows that the 15-year fixed-rate mortgage averaged 2.24 percent with an average 0.6 point, up slightly from last week, when it averaged 2.23 percent.

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Mortgage Appraisal Marketing 370

George Dell

JUNE 16, 2021

Exploratory Data Analysis (EDA) is an implicit part of traditional appraisal. The appraiser invokes education, training, and market area familiarity to decide on comparables and adjustments to be made. The process takes place fully in the mind of a competent practitioner. EDA is expressed in quasi-governmental standards (USPAP) as a focus on the subject property’s: […].

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Training Appraisal Marketing 195

Eyes on Housing

JUNE 17, 2021

In the recent NAHB study, What Home Buyers Really Want, 2021 Edition, side-by-side double sinks and walk-in pantries ranked as the most popular of 30 listed kitchen features. This result is based on a comprehensive, nationwide survey of 3,247 recent and prospective home buyers conducted in the summer of 2020. Among other things, the survey asked recent and prospective buyers.

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Buyers 183

Housing Wire

JUNE 14, 2021

The recent action in the 10-year bond yield has puzzled many people, but it looks wonderful to me as it shows that the U.S. economy is leading the world out of the recession. When I wrote the America Is Back economic model on April 7, 2020, the bond market was already signaling that the economy and housing would be ok. In addition to the bond market yield action, responsible lending post-2010 gave me confidence that forbearance was not going to be the negative issue that many had hoped for.

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Lending Marketing Housing Market 521

Appraisal Buzz

JUNE 16, 2021

In today’s Buzzcast, we dive into market value versus sales price and how today’s wild market should be something all appraisers need to be up-to-date on. Today we have Nikki Smith, Chief Appraiser of Tucson Real Estate Appraisal, with Joan Trice, Founder of Allterra Group, LLC. They delve into a deep discussion regarding the two and how they impact where we are today in the market.

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Market Value Marketing Appraisal Housing Market 370

DataMaster

JUNE 16, 2021

How bad will the housing shortage get? Introduction. It’s no secret that the demand for single-family homes in the United States is greater than the supply. Not only are fewer people selling their homes, but fewer homes are also being built! We must do something, but what? Let’s examine the housing supply problem, and then we’ll discuss several options for solving the issue!

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Construction Law Landlords Development 174

Eyes on Housing

JUNE 14, 2021

The average length of time to complete construction of a multifamily building, after obtaining authorization, is 17.4 months, according to the 2020 Survey of Construction (SOC) from the Census Bureau. The authorization-to-completion time in 2020 was relatively unchanged from 2019, slowing down the upward trend since 2013. The average time to build multifamily homes varies with the number of.

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Construction 183

Housing Wire

JUNE 17, 2021

Mortgage applications for new home purchases fell 9% month-over-month in May at a seasonally unadjusted pace ? the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Compared to May of last year, MBA’s Builder Application Survey (BAS) revealed purchases are down 5.9%.

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Inventory Construction Contracts Mortgage 511

Appraisal Buzz

JUNE 15, 2021

PERSON OF THE WEEK: The COVID-19 crisis put a halt on the non-agency mortgage market in 2020, but issuance of non-agency residential mortgage securitizations has been on the rise in recent months. To learn more about what’s ahead for the non-agency market in the second half of 2021, MortgageOrb recently interviewed Greg Richardson, chief commercial officer at Atlanta-based MAXEX , a digital exchange for buying and selling mortgage loans through a single clearinghouse.

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Marketing Mortgage Appraisal 370

GoForrmz

JUNE 16, 2021

Elevate your digital forms and data capture with these powerful features Whether you've just uploaded your first form to the GoFormz form editor or your entire form collection is already digital, these five features can take your digital forms and data capture further. Dynamic Field Properties Your form fields can be easily configured to guide user data entry and enforce data capture rules.

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Tools Clients Business 167

Eyes on Housing

JUNE 15, 2021

Rising material prices and supply-chain shortages resulted in builder confidence dipping to its lowest level since August 2020. The latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) shows that builder confidence in the market for newly built single-family homes fell two points to 81 in June. Despite the monthly decline, the reading above 80 is still.

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Supply Chain Housing Market Marketing 179

Housing Wire

JUNE 16, 2021

Another month of steadily increasing home prices and insatiable demand led Fannie Mae ‘s Economic and Strategic Research Group to alter many of its 2021 predictions – in particular, its outlook on the symbiotic relationship between the housing market and inflation measures. While the housing research group believes current inflation acceleration could be considered transitory, price pressures in all sectors – not just housing – are likely to last into 2022.

Housing Market 508

Housing Market Development New Listings Marketing 508

Appraisal Buzz

JUNE 15, 2021

In today’s Buzzcast, we dive into market value versus sales price and how today’s wild market should be something all appraisers need to be up-to-date on. Today we have Nikki Smith, Chief Appraiser of Tucson Real Estate Appraisal, with Joan Trice, Founder of Allterra Group, LLC. They delve into a deep discussion regarding the two and how they impact where we are today in the market.

Market Value 370

Market Value Marketing Appraisal Real Estate 370

GoForrmz

JUNE 14, 2021

Simplify the collection of signed lien waivers with digital form sharing Lien waivers can be frustrating. With paper forms and PDFs, the lien waiver process can result in significant delays due to form mismanagement, incorrect data entry, missing signatures, and lengthy delivery wait times. These delays, in turn, result in sluggish payments and frequent miscommunication.

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Business Construction 158

Eyes on Housing

JUNE 14, 2021

Over the four months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 384,196. On a year-over-year (YoY) basis, this is a 35.6% increase over the April 2020 level of 283,344. Year-to-date ending in April, single-family permits reported increases in all four regions. The relatively more affordable Midwest reported the strongest increase of 49.8%, followed by.

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Marketing Construction 174

Housing Wire

JUNE 18, 2021

Only 2.7% of all home sales in the first quarter of 2021 were flips — or one in 37 transactions, the lowest level since 2000. Per a report from ATTOM , a national property database, 32,526 single-family homes and condominiums in the U.S. were flipped in the first quarter. That number is down from 4.8%, or one in every 21 home sales in the nation during the fourth quarter of 2020.

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Investors Investing Lending Inventory 501

Appraisal Buzz

JUNE 14, 2021

Mortgage firms partner on furthering their commitment to delivering tech solutions to increase further adoption of eClosing in the industry. The post ICE Mortgage to Deploy DocMagic’s eVault Solution appeared first on theMReport.com. The post ICE Mortgage to Deploy DocMagic’s eVault Solution appeared first on Appraisal Buzz.

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Mortgage Appraisal 370

Urban

JUNE 16, 2021

The inequities Black families experience in the Twin Cities illustrates the larger systemic barriers surrounding race and opportunity in the United States.

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Eyes on Housing

JUNE 16, 2021

Housing production was steady in May, although permit issuance weakened as higher costs are deferring and delaying some construction projects. Overall housing starts increased 3.6% to a seasonally adjusted annual rate of 1.57 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The May reading of 1.57 million starts is.

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Construction Development 167

Housing Wire

JUNE 16, 2021

Housing starts are inching back up across the country, and a big fall in the price of lumber in recent weeks has housing economists projecting an uptick in activity from homebuilders. Housing starts increased 3.6% in May to a rate of 1.57 million, according to the most recent study from the U.S. Census Bureau. That’s more than 50% above above the May 2020 rate — when the COVID-19 pandemic was at its height in the country — of 1.05 million.

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Real Estate Agent Construction Real Estate Inventory 493

Appraisal Buzz

JUNE 14, 2021

titlegenius is the latest in a series of digital products the company is engineering to help solve existing and anticipated customer and agent challenges, Radian reports. The post Radian Announces Launch of ‘Genius’ Product Suite appeared first on DSNews. The post Radian Announces Launch of ‘Genius’ Product Suite appeared first on Appraisal Buzz.

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Agents Appraisal 370

Appraiserblogs

JUNE 17, 2021

Appraisers, I have reached my boiling point about the negative press ‘we’ Independent Fee Appraisers have been receiving for many months – concerning supposed ‘systemic racial bias.’ It’s been done on purpose by a particular group of individuals whose main strategic objective is to keep many citizens teetering on their toes, always on the defensive, while the perpetrators claim they’ve been oppressed.

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Appraisal HOA Valuation 147

Eyes on Housing

JUNE 15, 2021

The historic climb for lumber prices, combined with delays and higher costs for other building materials, is a significant limiting factor for home building in 2021.

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Construction Inventory Mortgage Marketing 162

Housing Wire

JUNE 17, 2021

“These are the best of times,” declared Stuart Miller, chairman of the board for Lennar Thursday. And the homebuilder’s quarterly financial performance backs up what Miller is talking about. Lennar, best known for producing homes for the middle class, reported $831 million in net income for the months of March, April and May, a 61% increase from the same three months in 2020, which coincided with the pandemic’s onset.

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Supply Chain Construction Investing Business 488

Appraisal Buzz

JUNE 14, 2021

Black Knight Inc. new Originations Market Monitor report, which looks at origination data through May 2021, shows that overall rate locks were down 4.7% from April, with a more pronounced 8.2% decline in rate/term refinance locks. The refinance share of the market mix dropped again in May, accounting for just 44% of the month’s origination activity.

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Lending Appraisal Marketing 369

Urban

JUNE 17, 2021

Asian households face discrimination that hinders their ability to become homeowners and build generational wealth.

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Housing Market Marketing 146