Housing Wire
MAY 21, 2021
According to the National Association of Realtors, existing home sales for April’s housing market came in at 5,8500,000. This was a miss from estimates and the third straight month of declines in sales. I have been saying we should expect home sales to moderate since the end of summer 2020, and that is what we see in this report. This sales trend looks very normal to me.
Appraisal Buzz
MAY 17, 2021
During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Many of the complaints and allegations about appraisals related to not addressing the changes happening in the market as the meltdown began to occur, calling the market stable when prices were starting to decline.
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The Appraiser Coach
MAY 18, 2021
It is no secret that we as appraisers take a lot of photos. I probably take about 20-25 per house that I inspect. Then there are all the comp photos. Read More.
Sacramento Appraisal Blog
MAY 17, 2021
There’s no way it will sell for that much… But then it did. Today I have an interview with a local real estate agent about a property that recently commanded easily about $100,000 more than it looked like it could have on paper. I hope you enjoy this Q&A with Ted DeFazio and my takeaways […].
Speaker: Timothy Allsopp
Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.
Housing Wire
MAY 19, 2021
After three straight quarters of declines, home purchases by investors rose 2.7% year over year in the first quarter of 2021, marking the first period of growth since the COVID-19 pandemic began, per a new study from Redfin. Looking to take advantage of the hot housing market and a soaring stock market, investors bought about 1 of every 7 U.S. homes in the first quarter — up from the prior three quarters, in which they bought closer to 1 in 10 homes.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Eyes on Housing
MAY 20, 2021
Confidence in the market for new multifamily housing increased in the first quarter of 2021, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two major indices: the Multifamily Production Index (MPI) and the Multifamily Occupancy Index (MOI). The MPI increased eight points to 51 in the.
George Dell
MAY 19, 2021
Is it “Obvious”, like some people have “common sense”? Or is it counter-intuitive? We compared price versus value in Part I. (There, the leading paragraph defines “market value” as per USPAP Advisory Opinion 22.) The Appraisal Foundation opinion goes on for a full page to explain the explanation of the definition, and the importance of […].
Housing Wire
MAY 18, 2021
Skyrocketing prices for lumber, appliances and other building materials continue to handcuff new housing starts all over the country. Single-family housing starts in April dropped 13.4% from March to a rate of 1.09 million, according to the most recent study from the U.S. Census Bureau. Housing completions were at a rate of 1.045 million in April, just 0.1% above the March rate of 1.04 million — proof that builders are delaying housing starts due to the marked increase in costs for lumber and ot
Appraisal Buzz
MAY 20, 2021
A recent Legal League 100 Spring Servicer Summit examined the journey servicers and regulators will be embarking on when the foreclosure moratoria is lifted. . The post Servicers and Regulators Map Out Post-Moratoria Framework appeared first on DSNews. The post Servicers and Regulators Map Out Post-Moratoria Framework appeared first on Appraisal Buzz.
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Eyes on Housing
MAY 21, 2021
After reaching a record high in October, existing home sales, as reported by the National Association of Realtors (NAR), dropped to a ten-month low in April, as tight inventory continues to limit sales and fuel home price growth. The median existing home price in April surged to an all-time high and was the largest annual pace on record. Total existing.
Urban
MAY 18, 2021
Between 2020 and 2040, homeownership trends will vary widely between states.
Housing Wire
MAY 21, 2021
Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin. Pending sales for the seven-day period ending May 16 were down 10% from four weeks prior, compared to an 8% increase during the same period in 2019.
Appraisal Buzz
MAY 18, 2021
Stephen Adamo has joined Embrace Home Loans as president, national retail production. Prior to joining Embrace, Adamo served as executive vice president, head of U.S. mortgage banking, home equity, consumer manufacturing and credit underwriting at Santander Bank, NA. In that role, he had direct oversight of all aspects of residential home lending, including production, portfolio administration, secondary marketing, servicing and loan operations.
Eyes on Housing
MAY 18, 2021
Housing production declined in April due to rising prices and limited availability of lumber and other building materials. Overall housing starts decreased 9.5% 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. Nonetheless, the prior March pace (1.73 million annualized) was the.
Midtown Appraisal Group
MAY 20, 2021
You don’t have to be an expert, but you should know the basics. I know what it’s like: Whether you’re buying or selling your home, especially in the current overheated market, the last thing you have time (or interest) for is a deep dive into real estate appraisals. At the same time, as a vendor […].
Housing Wire
MAY 19, 2021
A full month of sub-3% mortgage rates , ongoing housing market supply constraints, and a 300% increase in lumber prices over the past 15 months has prompted Fannie Mae ‘s Economic and Strategic Group to revise several of its 2021 forecasts. March’s existing home sales report perfectly illustrated the country’s core housing market issues – a decade of under-building led to a 3.7% decline in transactions from the prior month, even though there’s never been more demand for a
Appraisal Buzz
MAY 21, 2021
After hosting a virtual version of the long-running event in 2020, this year Five Star Conference will return for an in-person conference in Dallas in September. The post 2021 Five Star Conference Welcomes Home the Industry appeared first on DSNews. The post 2021 Five Star Conference Welcomes Home the Industry appeared first on Appraisal Buzz.
Eyes on Housing
MAY 19, 2021
Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate dipped below the elevated levels shown in April, mirroring a similar decline in Treasury yields. For the week ending May 14, the average 30-year fixed rate mortgage was 3.15%. The MBA’s Market Composite Index, reflective of activity in refinancing and purchase mortgages, changed course compared to.
Urban
MAY 18, 2021
Senior renters will need more affordable, senior-friendly housing in the next two decades.
Housing Wire
MAY 17, 2021
With the economic expansion well underway, one big question remains: When will mortgage rates move toward 4% and higher? Mortgage rates increased toward 3.25% in mid-February from the recent all-time lows of 2.625% at the start of the year, but then retracted to around 3.0% currently. The bond market in 2021 has been above 1.60% for a brief time, with a recent high of about 1.75%.
Appraisal Buzz
MAY 18, 2021
Risk management is all about identifying, measuring, monitoring and controlling risk, and fair lending risk is no exception. Here are eight red flags that may indicate fair lending risk. 1. Discretion or exceptions in the underwriting or pricing process. Many financial institutions (FIs) pride themselves on their ability to work with consumers and be flexible with unusual circumstances.
Eyes on Housing
MAY 20, 2021
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building continues to experience flat conditions amidst strong demand and rising material challenges. There were 36,000 total custom building starts during the first quarter of the year. While this marks a 22% gain from the first quarter of 2020, that comparison is affected.
Urban
MAY 18, 2021
Research that debunks three common myths about infill housing development can help Los Angeles cope with its severe housing shortages.
Housing Wire
MAY 19, 2021
“ Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” —?Benjamin Franklin, in a letter to Jean-Baptiste Le Roy, 1789. Thankfully, after more than a year with innumerable challenges, it appears that the pandemic will end. From an economic perspective, the government acted boldly to support households and businesses through the crisis with monetary and fiscal stimulus.
Appraisal Buzz
MAY 20, 2021
The national housing boom spurred an uptick in home prices in two-thirds of Congressionally-mandated Opportunity Zones. The post Finding Opportunity in Opportunity Zones appeared first on DSNews. The post Finding Opportunity in Opportunity Zones appeared first on Appraisal Buzz.
Eyes on Housing
MAY 18, 2021
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction continued at a strong pace in the first quarter of 2021. This followed the best quarter for townhouse construction in 2.5 years at the end of 2020. As housing demand has shifted to more suburban and exurban areas and housing affordability.
Urban
MAY 18, 2021
Differences in housing conditions between the US, UK, and France illustrate that improving access to fair, affordable housing requires state and national governments to intervene.
Housing Wire
MAY 20, 2021
April’s 7.08% decline in mortgage delinquencies wasn’t even half of the drop March posted, but it did manage to push the national delinquency rate to below 5% for the first time since the beginning of the pandemic, Black Knight revealed in a new report. Overall, the number of past-due mortgages fell to 4.66% in April while an additional 400,000 homeowners managed to become current on their payments.
Appraisal Buzz
MAY 19, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, applications increased 1.2 percent on a seasonally adjusted basis for the week ending May 14. On an unadjusted basis, the index increased 1 percent compared with the previous week. The Refinance Index increased 4 percent from the previous week and was 2 percent lower than the same week one year ago.
Eyes on Housing
MAY 17, 2021
Builder confidence held stable in May, despite growing concerns over the price and availability of most building materials, including lumber. 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 is 83 in May, unchanged from April.
DW Slater Company
MAY 17, 2021
When appraising, especially in our rural market areas, we drive around and see many things, including unusual names for streets. This sign in Montague county is one of our favorites and speaks to the affinity for being away from the hustle and bustle of the larger metropolitan areas. This past year, the pandemic has really been a disrupter for many facets of our lives but the impact on real estate has been significant.
Housing Wire
MAY 20, 2021
Accurately establishing a home’s value is not just an important factor in real estate transactions and mortgage lending, it is integral to household wealth creation, as homeownership continues to be one of the primary pathways for Americans to build wealth. Inaccurate appraisals and valuations can impact the type of mortgage financing a potential buyer receives, whether a seller commands a fair value when selling their home, or whether a homeowner has opportunities to tap into home equity.
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