Housing Wire
JUNE 10, 2021
It’s no secret that buying a home takes time and money. Well, it turns out, so does selling a home. According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one.
Sacramento Appraisal Blog
JUNE 8, 2021
Is this crazy housing market slowing? Let’s talk about that today. On one hand stats are basically at all-time highs, but when we look deeper we’re starting to see some subtle signs of slowing. What are you seeing out there? QUICK SUMMARY: The market is still bananas, but we’re seeing some slight slowing. Stats could […].
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Appraisal Buzz
JUNE 11, 2021
Housing advocates express support for the U.S. Senate Committee on Banking, Housing, and Urban Affairs’ unanimous confirmation of former NAHRO CEO Adrianne Todman. The post Industry Reacts to HUD Deputy Secretary Confirmation appeared first on theMReport.com. The post Industry Reacts to HUD Deputy Secretary Confirmation appeared first on Appraisal Buzz.
The Appraiser Coach
JUNE 8, 2021
There are certain principles of good work and challenges that come when starting or running any business. Much of what we learn as business owners can also be passed on. Read More.
Housing Wire
JUNE 7, 2021
During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. Building more homes, it was said, would solve all sorts of social problems, from making homeownership more affordable to ending homelessness. Today we are perhaps less prone to believing that a glut of new homes is the panacea society is waiting for, but the siren call to build more homes continues to be broadcast by a host of housing pundits and social do-gooders
Cleveland Appraisal Blog
JUNE 10, 2021
Have you ever noticed that sometimes you will get a rogue onion ring in your order of fries at Burger King? Is it that one onion ring just decides to hitch a ride in the scooper? Or is something else afoot? Word on the street has it that Burger King does this on purposes. I have read this from various sources including the article “One Onion Ring Ends Up In Every Burger King Order of Fries” , from the SouthFloridaReporter.com.
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Eyes on Housing
JUNE 8, 2021
The count of open construction jobs increased in April to 357,000 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 slowed in April, declining to a 4.5% rate.
Housing Wire
JUNE 7, 2021
United Wholesale Mortgage has been aggressively price-cutting loans to put pressure on competitors for months now. It appears they’ve just thrown gas on the fire in the hopes of boosting their second quarter numbers, while hitting their rivals ahead of earnings call season. UWM said on Monday that they’ll price-match any conventional loan on primary residences up to 35 basis points with that of 15 different competitors: Caliber Home Loans , Cardinal Financial , Citizens Bank , Financ
Urban
JUNE 9, 2021
It is cheaper to buy a home than it is to rent in two-thirds of US counties. Homeownership can provide the kind of affordability and stability low-income families need.
Appraisal Buzz
JUNE 11, 2021
Department Secretary Marcia Fudge says HUD will restore certain definitions and other selected parts from 2015’s Affirmatively Furthering Fair Housing rule, which the previous administration ended last year. . The post HUD Rescinds ‘Preserving Neighborhood and Community Choice’ Rule appeared first on DSNews. The post HUD Rescinds ‘Preserving Neighborhood and Community Choice’ Rule appeared first on Appraisal Buzz.
George Dell
JUNE 9, 2021
I was curious about what is “critical race theory”. I didn’t understand what it was about. The Sunday paper article – yes, I still read the morning newspaper every morning. seemed to summarize CRT and the oblong political football it seems to have become. Why critical? Why Theory? And what does this […]. The post Critical Appraisal Theory? appeared first on George Dell, SRA, MAI, ASA, CRE.
Housing Wire
JUNE 7, 2021
Homebuyers are feeling pretty discouraged by the housing market these days. The latest Fannie Mae Home Purchase Sentiment Index shows that just 35% of consumers believe now is a good time to buy a home, down from 47% in April. And those who believe it is a bad time to be a homebuyer increased to 56% from 48%. “Consumers appear to be acutely aware of higher home prices and the low supply of homes , the two reasons cited most frequently for that particular sentiment,” said Doug Duncan,
Eyes on Housing
JUNE 11, 2021
The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that, in the first quarter of 2021, the aggregate market value of all owner-occupied real estate in the United States registered the largest numerical quarterly increase in the last 20 years’ worth of data. From $32.84 trillion in the fourth.
Appraisal Buzz
JUNE 11, 2021
Redfin says the second home market appears to be cooling although annual sales, measured by mortgage rate locks, were up nationwide by 48 percent in May. The company says, while that increase is substantial, it is the first time in a year that annual growth has fallen below 80 percent. Further, the year-over-year comparison is to a month when much of the nation was shut down by the COVID-19 pandemic.
Midtown Appraisal Group
JUNE 5, 2021
Say what you will about sprawling new subdivisions, they’re a residential appraiser’s dream. There’s nothing easier than putting a value on a house when there have been 4 sales of the exact same model on the street in the past 6 months. But what happens when you’re faced with, say, a beautiful 90-year-old home that’s […].
Housing Wire
JUNE 10, 2021
For the first time in nearly a decade, the Federal Housing Finance Agency (FHFA) is taking a look at how its compensation measures up for executives at Fannie Mae and Freddie Mac. On Thursday, the regulator issued a request for input to determine if the current compensation is not “reasonable” or “comparable.” In a statement, FHFA Director Mark Calabria said the information the FHFA gathers will help to ensure transparent and appropriate executive compensation policies.
Eyes on Housing
JUNE 7, 2021
Ending a period of volume decline that began at the end of 2019, the volume of residential construction lending posted an increase during the first quarter of 2021. Nonetheless, overall residential construction loan volume ended the year lower due to accelerated sales growth, which reduced outstand loans at a faster rate. The volume of 1-4 unit residential construction loans made.
Appraisal Buzz
JUNE 10, 2021
Clario becomes the first and only appraisal firm to participate in the program paving the way for the industry. RENO, Nev. — Clario Appraisal Network, Inc., a full-service residential real estate appraisal firm and sister company of real estate valuation and analytics fintech leader Clear Capital , today announced a partnership with SkillBridge , a Department of Defense (DoD) program for Service members to gain valuable civilian work experience through specific industry training, apprentices
Working RE
JUNE 8, 2021
“One of the best courses that I have had in 17 years!” -Amy H >> OREP E&O ????? “They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Editor’s Note: Take the NEW 2021 Appraiser Fee Survey online now at WorkingRE.com/2021survey. Driving Comps: The Great Debate by Isaac Peck, Editor Rarely has there been a […].
Housing Wire
JUNE 9, 2021
Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. In discussing whether more financial institutions should have a duty to serve the capital and credit needs of lower-income communities — an obligation akin to that of banks under the Community Reinvestment Act (CRA) — he said that generally “ like activities should have like
Eyes on Housing
JUNE 9, 2021
The first quarter 2021 Home Building Geography Index (HBGI) showed that single-family home building continued to shift to low-density and low-cost markets, a trend stemming largely from the COVID-19 pandemic and first reported in the second quarter of 2020. However, this suburban shift has been even more pronounced in the multifamily sector, which is experiencing growth in 2021 after a.
Appraisal Buzz
JUNE 9, 2021
In today’s Buzzcast, we dive into the history of zoning in the housing industry and how past practices shape the problems we are currently experienced today. Today we have Ed Pinto, Resident Fellow and the Director of Housing at the American Enterprise Institute (AEI) with Joan Trice, Founder of Allterra Group, LLC. They delve into a deep discussion regarding zoning practices of the past and how a “product of the times” impacts where we are today.
GoForrmz
JUNE 11, 2021
Simplify the collection of forms, data, and signatures with our Public Forms feature The ability to process and respond to new client inquiries is critical for any business. When relying on paper forms, inflexible PDFs , and cumbersome spreadsheets, client intake processes can be delayed or obstructed by manual workflows and time-consuming administrative tasks, like: Hand-delivering forms and information Emailing, printing, faxing, scanning, and filing forms Rekeying information into computer sy
Housing Wire
JUNE 10, 2021
Fannie Mae has given mortgage servicers the green light to use third-party digital vendors to verify income and asset information. Unsurprisingly, mortgage tech firms are thrilled. In a June 9 note , the government-sponsored entity told mortgage servicers they could implement the changes immediately. Servicers can use a third-party vendor to verify the information that the borrower provided in their mortgage assistance application.
Eyes on Housing
JUNE 10, 2021
Consumer prices continued to rise in May, supported by increases in housing costs. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.6% in May on a seasonally adjusted basis, following an increase of 0.8% in April. It marks the largest increase since June 2009. Excluding the volatile food and energy components, “core” CPI.
Appraisal Buzz
JUNE 9, 2021
Mortgage Coach has added debt consolidation strategies in the Total Cost Analysis (TCA) presentation, allowing loan originators to educate consumers on lower interest debt repayment options as peaking home equity values offer household cashflow relief. According to first quarter data from the Federal Reserve, there is $21 trillion in U.S. home equity and about $4.6 trillion in non-mortgage consumer debt such as credit cards, auto loans and college loans, with revolving and student debt having.
Appraiserblogs
JUNE 9, 2021
Lenders are convinced that a statistically supported appraisal is a more reliable valuation. Wow! Does anyone that understands the home valuation process really think a “statically supported” appraisal makes for a better quality report? This is not that hard to understand. What does “statically supported” really mean? It means you get a computerized report, similar to what Zillow or Trulia provides, based on the information in public records.
Housing Wire
JUNE 10, 2021
Mortgage rates fell again last week, dropping three basis points to an average of 2.96%, according to Thursday data from Freddie Mac ‘s PMMS. Rates have now managed to stay within a five basis point range above or below 3% for nearly two months. Higher mortgage rates historically have signaled a strengthened economy. But this is no ordinary economy: an apprehensive bond market has been keeping a close eye on global macroeconomic trends and Fed policy changes.
McKissock
JUNE 11, 2021
On Wednesday, June 30, 2021, McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Fannie Mae Q2 2021 Appraisal Update.” In this special interactive webinar, Fannie Mae’s Collateral Policy Team will share policy updates impacting appraisers, dispel some common myths pertaining to Selling Guide policies, and provide insights regarding appraisal quality as well as actions related to significant appraisal defects.
Appraisal Buzz
JUNE 8, 2021
Maxwell , which offers a blend of digital mortgage software and services, has released MaxDiligence, a new offering that provides due diligence and quality control services for the firm’s clients. The latest feature in Maxwell’s suite of tools designed for community lenders, MaxDiligence is a new scalable way to gain efficiency and generate reliable results, the company says in a release.
Chicagoland Appraisal Blog
JUNE 7, 2021
It is pretty common knowledge that appraisers should select the most recent home sales as comparable. The question then becomes why would an appraiser use old comps? . Fannie Mae Guidelines on Age Comparable Sale. First, let’s take a look at what Fannie Mae guidelines say about the age of comparable sales. “Comparable sales that have closed within the last 12 months should be used in the appraisal; however, the best and most appropriate comparable sales may not always be the most recent sales.
Housing Wire
JUNE 7, 2021
High lumber and appliance prices, as well as slow shipping and delivery times, continue to hamstring homebuilders in 2021. It’s an issue that has been reported on at length by HousingWire, from the onset of the shortage to the crippling price increases — of both lumber and building materials — that coincided with the spread of the COVID-19 virus in the U.S.
BiggerPockets
JUNE 11, 2021
Investor opportunity typically follows shifting demand, and if one recent development in real estate is any indication, significant opportunities may already be open in one particular asset segment. This development […].
Appraisal Buzz
JUNE 8, 2021
An analysis by Angi finds that homeowners in lockdown during the pandemic invested billions into home improvements as the value of homeownership grew during the past year. The post Nearly $600 Billion Reported in Home Improvements in 2021 appeared first on theMReport.com. The post Nearly $600 Billion Reported in Home Improvements in 2021 appeared first on Appraisal Buzz.
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