Housing Wire
JULY 22, 2021
The National Association of Realtors reported existing home sales for the month of June were under their estimates slightly. The seasonally adjusted annual rate of 5.86 million achieved in June was a bit better than my expectations, ending four months of declines. If existing home sales were getting noticeably weaker, we would expect the sales trend to be around 5.3 million, which would be back to 2019 levels.
Sacramento Appraisal Blog
JULY 20, 2021
Do you need a closet to be considered a bedroom? That’s a big question and the answer is simple. Actually, it’s not. Here are some things to consider. NOTE: This post does not address the requirements to be a bedroom. Here is a post I wrote about the four requirements to be a bedroom (over […].
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Appraisal Buzz
JULY 19, 2021
In hindsight, I didn’t choose the easiest profession. Over the last 40 years at my job, I have come to the realization that there aren’t that many people who do what I do. In fact, I only know of four professions where people earn their living by stating their opinions: doctors, judges, economists, and professional real estate appraisers. I’ll let you guess which one I am.
George Dell
JULY 21, 2021
Appraisal standards and regulations are mostly designed to discourage personal bias. But what about traditional appraisal practice? To understand this question, we must separate personal bias from analytic bias. Personal bias can be open, declared prejudice – or it may grow from basic human instinct – towards those who look like us. This basic tribal […].
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Housing Wire
JULY 20, 2021
Mortgage applications for new home purchases in June decreased 3% from May and 23.8% year over year, suggesting a slowdown in the housing market, according to a recent report from the Mortgage Bankers Association. New single-family home sales were reported at a seasonally adjusted annual rate of 704,000 units in June, a decrease of 5% from May’s pace of 741,000.
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Appraisal Buzz
JULY 23, 2021
According to a new report from Redfin , housing supply is gradually gaining momentum as the number of homes for sale begins to increase and pending sales continue a steady and seasonal decline. In turn, prices will stop rising as rapidly as they have been and an increasing number of homes for sale will see price drops. Pending home sales were up 9% year over year, representing the smallest increase since the four-week period ending.
Miller Samuel
JULY 19, 2021
To all members of the Appraisal Institute: Before I start, I wanted to share what the Appraisal Institute's MAI designation is referred to by many of its members. I learned these two from an MAI instructor years ago (pre-merger) who told our class (as if to motivate us?) that MAI stands for: MORE ANNUAL INCOME. MADE AS INSTRUCTED. And now. MORE AMORIN INFLUENCE.
Housing Wire
JULY 22, 2021
After four consecutive months of declines, existing home sales increased in June, jumping 1.4% from May to a seasonally adjusted annual rate of 5.86 million, according to the National Association of Realtors. You can thank a rise in housing inventory for the gains. Sales climbed 22.9% year over year, up from 4.77 million in June 2020 as housing inventory has slowly improved in recent months.
Cleveland Appraisal Blog
JULY 22, 2021
I hope you all are doing great this week! My family and I are in the midst of a first floor renovation, whilst caring for my wife as she continues to recover from her broken ankle, as I mentioned in my last post. So, I am grateful to have guest blogger, Seth Murphy, who wrote this article for the Cleveland Appraisal Blog. Going through a major renovation helps me to appreciate some of the great points made here. .
Speaker: Dylan Secrest
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Appraisal Buzz
JULY 23, 2021
GSE adds SVP and Chief Compliance Officer to oversee regulatory and conservatorship obligations. The post Jerry Mauricio to Head Up Compliance Efforts at Freddie Mac appeared first on theMReport.com. The post Jerry Mauricio to Head Up Compliance Efforts at Freddie Mac appeared first on Appraisal Buzz.
Eyes on Housing
JULY 21, 2021
Seventeen percent of American adults are considering the purchase of a home within a year, according to NAHB’s Housing Trends Report for the second quarter of 2021. The share (now seasonally-adjusted) has increased for five consecutive quarters, after hitting a series low of 10% in the first quarter of 2020. The upward trend is clear evidence of Americans’ growing desire.
Housing Wire
JULY 20, 2021
After an epic rise in housing starts and permits from the COVID-19 lows, the latest Census report shows a calm after the housing storm. This report is consistent with my prediction that all housing data will moderate from the epic run-up in activity in the second half of 2020. This moderation means that 2021 will likely have slightly more total home sales than 2020, but not gangbusters.
Urban
JULY 23, 2021
Assistance could be a lifeline for many tenants and landlords, providing vital funding for much-needed preservation of their homes and properties.
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Appraisal Buzz
JULY 23, 2021
After serving in an interim CCO capacity since January, 20-plus year veteran takes over SVP role at GSE. The post Freddie Mac Names Jerry Mauricio SVP and Chief Compliance Officer appeared first on DSNews. The post Freddie Mac Names Jerry Mauricio SVP and Chief Compliance Officer appeared first on Appraisal Buzz.
Eyes on Housing
JULY 22, 2021
According to the data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal siding material on new single-family homes started in 2020 (28 percent), followed by Vinyl siding (26 percent), fiber cement siding (such as Hardiplank or Hardiboard (21 percent), brick or brick veneer (19 percent). Far smaller shares of single-family homes started last year had wood.
Housing Wire
JULY 21, 2021
Mortgage applications decreased 4% for the week ending July 16, just one week after applications jumped 16% on the strength of falling mortgage rates. The 10-year Treasury yield dropped sharply last week, in part due to investors becoming more concerned about the spread of COVID variants and their impact on global economic growth, according to the latest survey from the Mortgage Bankers Association.
Urban
JULY 21, 2021
Could extending a fee help the FHFA fund more affordable housing?
Appraisal Buzz
JULY 22, 2021
The pandemic remains “a potent threat” to homeownership as well as home sales and values, according to Q2 2021 Coronavirus Report. The post Areas Facing COVID-Related Foreclosure Risk appeared first on DSNews. The post Areas Facing COVID-Related Foreclosure Risk appeared first on Appraisal Buzz.
Eyes on Housing
JULY 23, 2021
The total market share of non-site built single-family homes (modular and panelized) was at 3% of single-family completions in 2020, according to Census Bureau Survey of Construction data and NAHB analysis. This share is expected to rise moderately in 2021 and in the years ahead, due to the ongoing labor shortage in the residential construction sector and the need to lift labor.
Housing Wire
JULY 20, 2021
Housing starts increased 6.3% to a rate of 1.64 million in June, as construction companies broke ground on a greater number of both single-family and multifamily buildings last month. But crucial supply issues are preventing future builds from getting off the ground. Per the most recent study from the U.S. Census Bureau, starts are up 29% year over year, though the comparison is skewed due to the COVID-19 pandemic.
GoForrmz
JULY 22, 2021
Digitally transform your food services daily operations with digital forms and powerful integrated features Digital forms are powerful assets for the food and beverage industry. When relying on paper forms or PDFs, simple miscommunication results in misplaced or lost forms, delivery delays, and human error, which concludes with costly consequences. For example, capturing the wrong temperature data could result in food contamination or mistaken product loss that can damage your business operation
Appraisal Buzz
JULY 22, 2021
June home sales suffered for the third straight month, due to a rise in regulatory costs, high-priced materials, and a lack of labor. The post New Home Purchase Apps Fall 23.8% YoY in June appeared first on theMReport.com. The post New Home Purchase Apps Fall 23.8% YoY in June appeared first on Appraisal Buzz.
Eyes on Housing
JULY 19, 2021
Strong buyer demand helped to offset ongoing supply-side challenges of labor shortages, regulatory costs, and rising prices of materials as builder confidence in the market for newly built single-family homes inched down one point to 80 in July, according the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Among the supply-side challenges, the price of OSB (oriented.
Housing Wire
JULY 23, 2021
Competition for home buyers is tougher than ever right now, as tightened housing stock supply continues to plague the housing market. Acra Lending is doing what it can to help free up inventory. The company specializes in non-QM products, a sector that serves many borrowers who might not fit agency loans. By working with borrowers in unusual circumstances, Acra is helping create opportunities for inventory to open up. 3-month bank statement.
GoForrmz
JULY 20, 2021
Digitizing site-specific safety plans (SSSP) in the construction industry In this day and age, clear and effective communication is the cornerstone for success. Without it, mistakes can be made, and in construction, that oftentimes leads to costly delays and conflict. Site-specific safety plans (SSSP) act as a catalyst for effective communication in the construction industry.
Appraisal Buzz
JULY 22, 2021
Celebrating the independent spirit of the Mortgage Broker, UWM visited New York City to ring the opening bell at the NY Stock Exchange. The post UWM Celebrates National Mortgage Brokers Day at NYSE appeared first on theMReport.com. The post UWM Celebrates National Mortgage Brokers Day at NYSE appeared first on Appraisal Buzz.
Eyes on Housing
JULY 23, 2021
The share of prospective home buyers looking to buy a newly-built home peaked at 42% in the fourth quarter of 2020, before falling to 38% and 33%, respectively, in the first two quarters of 2021. The drop is most likely the direct result of strong gains in new home prices in 2021, which have been driven by double-digit growth in.
Housing Wire
JULY 21, 2021
For the second consecutive month, condos sold for, on average, above their asking price — signaling renewed homebuyer competition for condos after a pandemic-fueled slump, according to a recent study by Redfin. The typical condo sold for 0.7% above its asking price in June, following a premium of 0.4% in May. In dollar terms, the typical condo sold for $304,000 in June.
The Robert Weiler Company
JULY 18, 2021
With the warmth of the summer season on everybody’s mind, it’s natural for investors, especially those in commercial real estate, to divert their attention to new opportunities. Spring brings tax season, a time when investors assess their current holdings and plan for the future. Now, with the tax season behind us, investors are in the driver’s seat and ready to diversify their portfolio.
Appraisal Buzz
JULY 22, 2021
Digital lending solutions provider Tavant has introduced its new Touchless Lending platform, an AI-powered lending-as-a-service platform that maximizes the use of data-driven processes to provide an end-to-end loan manufacturing experience. Touchless Lending’s first product line is mortgage-centric and designed to address key pain points within the mortgage industry, Tavant says in a release.
Eyes on Housing
JULY 20, 2021
Housing production was steady in June, although permit issuance weakened as higher construction costs and other supply limitations are deferring and delaying some construction projects. Overall housing starts increased 6.3% to a seasonally adjusted annual rate of 1.64 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S.
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