Housing Wire
JULY 7, 2021
Sellers, rejoice. Roughly 77% of respondents to Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumer confidence to sell or buy a home, said now is a good time to sell. That’s up from 67% the prior month. To boot, a reported 64% of survey respondents said it’s a bad time to buy a home, up from 56% last month.
Appraisal Buzz
JULY 9, 2021
Of the many issues the COVID-19 pandemic brought to light, the usefulness of technology in the homebuying process is one of significance for mortgage professionals. While industry leaders knew it before, a global crisis forced many to accelerate the adaptation of online real estate transactions. A prop tech company, Spruce, conducted a study to examine … The post Homebuyers Crave Affordable, Transparent, Time-Saving Transactions appeared first on theMReport.com.
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Eyes on Housing
JULY 6, 2021
Lumber futures prices have decreased by 52 percent (on a front-month basis) over the past seven weeks as mill prices have fallen 48 percent over the same period.[1] In contrast, prices paid by builders since late May have declined by a fraction of that impact. The disconnect—which has always existed—is inherent to the lumber supply chain and choices that must.
George Dell
JULY 7, 2021
Time adjustments is a timely topic. Recent ski-jump rises in prices have been ramp-ant in many places. Valuemetrics.info provided a free, two-hour webinar on the topic, and we had almost exactly 1000 appraisers sign up. (Although many did not show – free, you know.) Prior to the webinar, I asked some reviewers about how appraisers […]. The post How Do You Time Adjust?
Housing Wire
JULY 5, 2021
The most recent pending home sales report that soundly beat estimates after a downtrend in the previous months caused some serious head-scratching. Pending home sales were up a healthy 8% from April and just over 13% compared to the same month last year. Of course, last year’s comps should be discounted due to COVID-19. From the National Association of Realtors : “Pending home sales rose 8% in May from the prior month and 13.1% from one year ago.
Appraisal Buzz
JULY 9, 2021
Fed Chair Jerome Powell will testify this week at a hearing charting the course of the U.S. economy and how it will influence mortgage rates moving into Q3 and beyond. The post The Week Ahead: Fed Chair Examines the Path of the Economy appeared first on theMReport.com. The post The Week Ahead: Fed Chair Examines the Path of the Economy appeared first on Appraisal Buzz.
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Eyes on Housing
JULY 6, 2021
Higher prices and limited availability of softwood lumber has been a key issue for housing and the overall inflation situation for the U.S. economy. With this in mind, did higher lumber prices in 2020 result in higher market shares for non-wood framed single-family homes? Wood framing remains the dominant construction method for single-family homes in the U.S., according to NAHB.
Housing Wire
JULY 8, 2021
The number of title and settlement companies offering digital closings has increased 228% since 2019, as more of the industry moves online in the wake of the COVID-19 pandemic. Per a survey of 300 title professionals conducted by the American Land Title Association , only 14% of professionals offered digital closings prior to the health crisis. Now, in 2021, 46% offer digital closings, according to Diane Tomb, ALTA chief executive officer.
Appraisal Buzz
JULY 8, 2021
Fannie Mae said “Consumers are increasingly adamant that it’s a good time to sell, bad time to buy a home” as it released its June Home Purchase Sentiment Index (HPSI). The index, based on the company’s monthly National Housing Survey, shows a growing difference in the number of consumers who hold one or another of those opinions.
GoForrmz
JULY 6, 2021
Collect energy data using digital forms and instantly route submitted forms and information to the back-office, integrated systems, connected databases, and more Energy field teams are often tasked with the responsibility of collecting important project information – so why aren’t they given the tools they need to work more efficiently and accurately?
Eyes on Housing
JULY 5, 2021
Recent posts have discussed how builders are facing widespread shortages of many building materials, and how materials prices for the same house have increased by 26 percent over the past year. Results from a follow-on NAHB survey show that builders have reacted to the shortages in a variety of ways, most commonly by raising the prices of their homes and.
Housing Wire
JULY 8, 2021
The average 30-year fixed-rate mortgage fell eight basis points from the week prior to 2.9%, according to data released Thursday by Freddie Mac ‘s PMMS. According to Sam Khater, Freddie Mac’s chief economist, last week’s dip followed the concurrent drop in U.S. Treasury yields earlier this week. “While mortgage rates tend to follow Treasury yields closely, other factors can be impactful such as the labor markets, which are continuing to improve per last week’s jobs report,” sai
Appraisal Buzz
JULY 8, 2021
For the second straight week, mortgage rates remain under the 3% mark, but will affordability remain a deterrent to prospective homebuyers unwilling to pay for higher-priced homes? The post Mortgage Rates Fall to 2.9% appeared first on theMReport.com. The post Mortgage Rates Fall to 2.9% appeared first on Appraisal Buzz.
GoForrmz
JULY 7, 2021
Remove communication barriers and level-up workflow processes with these construction digital forms Construction workflows vary from project to project – the larger the project, the greater the amount of people involved. With communication playing an integral role throughout the course of construction, paper forms can act as an obstacle, resulting in lack of visibility to real-time information, decreased work productivity, and missing data.
Eyes on Housing
JULY 9, 2021
According to NAHB analysis of the Survey of Construction (SOC), new single-family starts expanded at a fast pace in 2020. Nationally, 993,635 new single-family units were started in 2020, 12% higher than the units started in 2019. It marked the fastest growth rate since 2013 and the highest count of starts since the Great Recession. Among all the nine Census.
Housing Wire
JULY 7, 2021
Mortgage applications decreased again , this time falling 1.8% in the week ending July 2, 2021, according to the latest report from the Mortgage Bankers Association. This marks the third straight week of application declines, and represents the lowest level since the January 2020. “Treasury yields have been volatile despite mostly positive economic news, including last week’s June jobs report, which showed ongoing improvements in the labor market,” said Joel Kan, MBA associate vice preside
Appraisal Buzz
JULY 8, 2021
Completion of sale adds industry-specific SureFire management tool to Black Knight’s array of offerings to manage customers and improve retention rates. . The post Black Knight Closes Top of Mind Acquisition appeared first on theMReport.com. The post Black Knight Closes Top of Mind Acquisition appeared first on Appraisal Buzz.
The Robert Weiler Company
JULY 6, 2021
An Overview: What Is Industrial Space for Rent? While not the most scenic part of any city, industrial space for rent powers the corporate infrastructure of America. Before 1760, most Americans made their living farming and lived in widespread rural communities. The onset of the industrial revolution fundamentally changed the way that ordinary people interacted within society.
Eyes on Housing
JULY 8, 2021
Although lumber prices have declined somewhat recently, this follows a period of record increases that started in mid-2020 and have left prices at historic highs. In a recent NAHB survey, 94 percent of builders reported a shortage of framing lumber. Despite this, as Tuesday’s post showed, wood framing remains the dominant construction method for single-family homes in the U.S., accounting.
Housing Wire
JULY 9, 2021
In case you didn’t know, we’re living in a seller’s market. But even though home prices are at record highs , buyers are still in the market. Not only are they shopping, but they’re putting down offers well over the listing price. Are you in the market for a home? Be prepared to spend money. Listing prices? Never heard of them! A buyer in Austin, Texas paid $1 million over a home’s listing price.
Appraisal Buzz
JULY 7, 2021
PERSON OF THE WEEK: Traditional closing practices and paper-based post-closing workflows are fast becoming relics of a bygone era. Lenders that fail to embrace the e-mortgage, or at least go “hybrid,” as we’ve heard many times, will soon become relics as well. So, what steps must mortgage lenders take to successfully go fully digital with e-mortgages?
Midtown Appraisal Group
JULY 4, 2021
Appraisers aren’t real estate salespeople or mortgage brokers, and definitely shouldn’t be offering advice or counsel to the people whose properties they’re appraising. However, as we’ve discussed before, because of our particular role in the process, and because they often end up meeting home buyers and sellers during their inspections, it’s not surprising that we’re […].
Eyes on Housing
JULY 7, 2021
The count of open construction jobs declined in May to 299,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). The housing market remains hot and requires additional labor, lots and lumber and building materials to add inventory. Overall, hiring in the construction sector remained strong in May, ticking down to a 4.2% rate.
Housing Wire
JULY 9, 2021
As more of the country moves to permanent work-from-home arrangements, home prices in car-dependent areas have risen twice as fast as those in transit-accessible areas, according to a recent study by Redfin. The median home-sale price in car-dependent areas, nationwide, has increased 32.8% to a record $418,100 since January 2020, while it has risen 15.6% to a record $540,500 in transit-accessible neighborhoods.
Appraisal Buzz
JULY 7, 2021
An analysis of mortgage application volume finds a decline in volume, with higher prices continuing to prevail despite rates in the 3% range. The post Mortgage Apps Dip for Second Consecutive Week appeared first on theMReport.com. The post Mortgage Apps Dip for Second Consecutive Week appeared first on Appraisal Buzz.
GoForrmz
JULY 5, 2021
Digitally transform the renter’s experience and pave the way for rental lease agreements The world is continuously evolving and changing, but some things don’t ever seem to change. Paperwork is one such constant - whether you’re signing rental lease agreements or sending invoices to clients , forms are required in almost every industry. The real estate industry utilizes paper forms for various needs, one of which being rental lease agreements.
Appraiserblogs
JULY 9, 2021
1. A Call to Comment has been issued. 2. VA is looking for Appraisers. 3. AMC Disciplinary Action Snowballs into Multiple States… A Call to Comment has been issued. The FTC is asking for public comments on the consent decree by the Louisiana Real Estate Appraisal Board. The time line to comment is short and ends on July 22, 2021. VaCAP asks each of you to take a few minutes and read the consent decree as well as the analysis provided by the FTC before commenting.
Housing Wire
JULY 9, 2021
The news is filled with talk of real estate. Bubbles have that effect. We know through the work of people like Robert Shiller and others that “narratives” are indeed economic forces and that compelling narratives can move markets. In the U.S. real estate market, matters are of course more complex than mere narratives, but we do all know that constant hype adds to the buoyancy of markets, which then creates more hype.
Appraisal Buzz
JULY 7, 2021
In today’s Buzzcast, we dive into how the current market and evolving technologies are impacting the appraisal industry. Today we have Jim Cutillo, Founder and CEO of AppraisalVision, with Joan Trice, Founder of Allterra Group, LLC. We’ll be getting the inside scoop while Joan and Jim discuss the influences each of these factors have on one another.
McKissock
JULY 7, 2021
So the moment has finally come. After meeting your client, hunting for their perfect home, and finding it, now it’s time for them to move. Everyone knows moving can be stressful and full of hiccups. While helping clients to move isn’t technically part of your job description, providing outstanding service is. By sharing moving tips, you can ensure a positive end to the purchase experience.
Appraiserblogs
JULY 8, 2021
I was able to sort time adjustment methods by data source used (mostly compiled, published reports) and by the analytic used… Time adjustments is a timely topic. Recent ski-jump rises in prices have been ramp-ant in many places. Valuemetrics.info provided a free, two-hour webinar on the topic, and we had almost exactly 1000 appraisers sign up.
Housing Wire
JULY 9, 2021
Jacksonville, Florida-based Sun Capital Partners Inc. announced the acquisition of LoanLogics , a digital mortgage solutions provider and fellow Jacksonville-based company. Terms of the private transaction were not disclosed. The LoanLogics platform provides technology automation for mortgage document processing and data-driven audit software that improves efficiency, enhances transparency, streamlines commerce, and reduces risk. “Sun Capital is thrilled that LoanLogics is our second techn
Appraisal Buzz
JULY 7, 2021
In today’s Buzzcast, we dive into how the current market and evolving technologies are impacting the appraisal industry. Today we have Jim Cutillo, Founder and CEO of AppraisalVision, with Joan Trice, Founder of Allterra Group, LLC. We’ll be getting the inside scoop while Joan and Jim discuss the influences each of these factors have on one another.
McKissock
JULY 4, 2021
If anyone knows the power of social media for real estate, it’s Mike Schulte. Last year, a client slid into his direct messages with a multi-million dollar transaction. Schulte never met the guy and still doesn’t know what he looks like. “Every time we connected was through social,” said Schulte. Schulte, a Citi Habitats real estate agent from Queens, is one example of a growing trend in real estate: it’s impossible to ignore social media.
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