Appraisal Buzz
AUGUST 24, 2022
[link]. Today’s Buzzcast interview is with Anthony Blackburn, CEO of Apple Appraisals. We sat down with Tony and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers can be proactive in organizing how their businesses would run without them in the future. What are some examples of the hardships you’ve gone through since unexpectedly losing a business partner?
Housing Wire
AUGUST 23, 2022
It will get worse for the housing market – and mortgage industry – before it gets better. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week. “Housing remains clearly on the downtrend — and has been for several months now — due to the combined effects of outsized home price increases and the significant and rapid run-up in mortgage rates,” Fannie Mae’s Chief Economist Doug Duncan said in a statement.
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Sacramento Appraisal Blog
AUGUST 22, 2022
Opendoor has been losing big lately in Sacramento since the market shifted. I thought it would be interesting to take a look at their activity over the past few months since I’m getting so many questions about them. This is not about throwing shade, and I’m not writing as a fanboy either. This is objective […].
Cleveland Appraisal Blog
AUGUST 25, 2022
You’ve just purchased your first property to renovate. How can you capitalize on your first investment property? I welcome back guest blogger and Author, Jessica Brody, who shares some tips with us on how to do so. Enjoy! Whether your first investment property will be a rental or a flip, your goal is to walk away with more money than you put into it.
Appraisal Buzz
AUGUST 22, 2022
This year has felt like riding a roller coaster…in the dark…facing backwards. Some of the changes are probably specific to my market, but others will be familiar to most of you. The shifts in supply and demand have been rapid and not always easy to predict. I wrote previously about the impact of increasing interest rates and inflation on the residential real estate market.
Housing Wire
AUGUST 25, 2022
South Carolina-based Movement Mortgage has acquired the brokerage Superior Rate Mortgage of New England to expand operations in the region, the company announced Wednesday. The terms of the deal were not disclosed. The acquisition is another step to boost its sales amid shrinking loan origination volumes. The company announced new hires in the sales executive team in early August.
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The Appraiser Coach
AUGUST 23, 2022
In the beginning of the COVID-19 pandemic, when the State of Idaho shut down, my company and I took a remote appraisal assignment. Because of the local stay-at-home order, we. Read More.
Appraisal Buzz
AUGUST 26, 2022
While a small number of real estate appraisers (e.g., review appraisers) may spend their entire workday in an office sitting at a computer, most split their time between the office and the field. Are you a new or prospective appraiser curious about what your workday might look like? Are you a current appraiser wondering how others divide and manage their time?
Housing Wire
AUGUST 25, 2022
Title insurance underwriter First American has launched a new digital platform for title agents, according to an announcement on Thursday. The company says that the new platform, known as PRISM , combines automation and marketing tools, allowing First American policy-issuing title agents to offer products and services directly to their customers via any computer or mobile device at any time. “Our PRISM platform is another example of First American’s leadership of the digital transformation
Eyes on Housing
AUGUST 25, 2022
Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the first quarter of 2022 due to strong demand and low vacancy rates. However, the decline in the number of apartment and condominium completions in the first quarter of 2022 reflects the ongoing supply chain challenges.
Appraiserblogs
AUGUST 25, 2022
Appraiser Miller wins important claim in racial discrimination lawsuit. Judge ruled Plaintiffs did not rely on Miller’s appraisal. The other claims continue but this was an important claim. It also shows the Plaintiffs lied to the Court. ORDER GRANTING MILLER DEFENDANTS’ MOTION TO DISMISS FIRST AMENDED COMPLAINT; DISMISSING PLAINTIFFS’ SEVENTH CLAIM FOR RELIEF AS ASSERTED AGAINST MILLER DEFENDANTS; VACATING HEARING.
Appraisal Buzz
AUGUST 26, 2022
The newest national survey of new homeowners commissioned by U.S News & World 360 Report Reviews found that a majority of new homeowners who purchased a home since the beginning of 2021 reported that they felt “house rich and cash poor” with many admitting they felt pressure to buy as home prices ramped up. Using Pollfish, … The post Analysis: Stress and Regrets of New Homeowners appeared first on DSNews.
Housing Wire
AUGUST 26, 2022
California real estate startup Reali is shutting down, with plans to lay off most of its employees on Sept. 9. The firm is the latest to fall victim to rising mortgage rates and a drop in home sales. . The San Mateo, California startup cited “the challenging real estate and financial market conditions and unfavorable capital-raising environment” as reasons for shuttering its business that was founded in 2015 by Ami Avrahami and Amit Heller. “Active real estate transactions will
Eyes on Housing
AUGUST 26, 2022
NAHB analysis of the 2021 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.8% of the market, while conventional financing dominated the market at 71.2%. In 2020, share of non-conventional financing was 34.4% of the market while conventional financing accounted for 65.6% of the market share.
Birmingham Appraisal
AUGUST 23, 2022
How Should You Compare Your Home To Recent Neighborhood Sales? Are you curious about the market value of your home? Have you seen nearby homes sell and wondered how your home might compare to recent neighborhood sales? If so then this post is for you. It’s human nature to believe that your home is the best one in the neighborhood but how does it truly compare with recent sales?
Appraisal Buzz
AUGUST 25, 2022
An upcoming Five Star Institute webinar will discuss the industry’s usage of a national digital signing platform, as the nation’s mortgage servicers continue to push the digital envelope. The post The Week Ahead: Servicers Leveraging Digital Solutions appeared first on DSNews. The post The Week Ahead: Servicers Leveraging Digital Solutions appeared first on Appraisal Buzz.
Housing Wire
AUGUST 25, 2022
Homepoint is in a tough spot. Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business.
Eyes on Housing
AUGUST 23, 2022
New home sales in July fell to their lowest level since January 2016 as the industry grapples with supply chain disruptions that are delaying new home building projects and raising housing costs as mortgage interest rates increased. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in July at.
GoForrmz
AUGUST 26, 2022
Upgrade your student housing with the latest technology Student housing has always been a complex topic, and recent years have posed even newer challenges to shared living spaces on campus. From a population raised on technology to unprecedented years of working and learning from home, times are changing for student housing. What are ways you can bring technology into your student housing facilities to make them a more pleasurable experience for your students?
Appraisal Buzz
AUGUST 25, 2022
Homebuyer affordability improved for the second straight month in July, with the national median payment applied for by applicants decreasing to $1,844 from $1,893 in June. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time –relative to income– using data … The post Affordability Conditions Improve in Majority of U.S.
Housing Wire
AUGUST 25, 2022
Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Instant Home Equity, an automated end-to-end digital home equity product for lenders, integrates income, identity verification, title, decision and property appraisal to save time and costs, Blend said in a release this week. Lenders using Blend’s home equity product can offer personalized home equity loans and then close in a few days as opposed to multiple weeks it
Eyes on Housing
AUGUST 22, 2022
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts surged during the second quarter of 2022. At 142,000 units started, this was the largest quarter for rental multifamily construction since the second quarter of 1986. The market share of rental units of multifamily construction starts bounced back to 96%.
Empire Appraisal Group
AUGUST 25, 2022
Rising mortgage rates means lower expectations for sellers. By LESLIE SARGENT ESKILDSEN | leslie@leslieeskildsen.com | Orange County Register. Source: Rising mortgage rates means lower expectations for sellers – Orange County Register (ocregister.com). Navigating a shift in any market is difficult. No one wants to leave any money on the table by dropping their price too much.
Appraisal Buzz
AUGUST 24, 2022
Black Knight Inc. has released a “first look” the latest iteration of its Mortgage Monitor Report for July 2022, which looks at delinquency and foreclosure rates across the U.S. According to Black Knight, the national delinquency rate rose to 2.89% in June. The delinquency rate was 2.84% in June, 2.75% in May, 2.80% in … The post Early-Stage Delinquencies Push Up National Delinquency Rate appeared first on DSNews.
Housing Wire
AUGUST 25, 2022
With recent developments from Fannie Mae and Freddie Mac to pursue a more digital appraisal process that could both speed up the process and remove any unconscious bias from it, it is important for industry professionals across the space to stay at the top of their game. That is why HW Annual Oct. 3-5 is proud to present an appraisal-centered session this year.
Eyes on Housing
AUGUST 24, 2022
The missing middle construction sector includes development of medium-density housing, including townhouses, duplexes and other small multifamily properties. While townhouse construction has trended higher in recent quarters, the multifamily segment of the missing middle (apartments in 2 to 4 unit properties) has disappointed. For 2021, there were only 12,000 starts of such residences.
GoForrmz
AUGUST 25, 2022
The best digital forms that will get the job done Campus maintenance takes 24/7 effort and attention. No college or university can operate effectively if the grounds are not providing the right environment. The comfort, cleanliness, and safety of a campus can all contribute to the success of its students and faculty. “ The facilities are maintained not for their own sake, but to provide, within available resources, the best possible environment in which the university community can function
Appraisal Buzz
AUGUST 24, 2022
The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in July, the second month in a row and the eighth time it has fallen this year. In addition, three out of the four major regions in the country also reported declining numbers, as one region, the West, posted a minor gain. … The post Three of Four Regions Post Declining Home Sales Numbers appeared first on DSNews.
Housing Wire
AUGUST 24, 2022
Homepoint has launched a new program to reduce rates for borrowers with lower income, the wholesale lender announced Wednesday. The initiative comes after the company reported a loss in the second quarter of 2022 amid a price war, mainly from its wholesale-only rival United Wholesale Mortgage (UWM). . Homepoint is offering a 75 basis point pricing bonus for conforming conventional loans, with no additional cost to borrowers.
Eyes on Housing
AUGUST 22, 2022
Nonfarm payroll employment increased in 46 states and the District of Columbia in July compared to the previous month while four states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 528,000 in July, following a gain of 398,000 jobs in June. As of July 2022, the U.S. labor market is back to.
Simonson Real Estate
AUGUST 24, 2022
With rising inflation and multiple interest rate increases in 2022, both are hot topics impacting the commercial real estate industry. We share our latest understandings and what we are doing to continue providing credible appraisals and valuations. Inflation and Interest Rates. Inflation is running at more than a 40-year high with the July 2022 Consumer Price Index increasing 8.5% over the past year.
Appraisal Buzz
AUGUST 23, 2022
One of Fannie Mae’s missions is to facilitate equitable and sustainable access to homeownership and quality affordable rental units across the country which provide a stronger and more efficient housing system for all. But as a major source of mortgage financing in the U.S., the Government Sponsored Enterprise (GSE) needs to be at the cusp … The post Fannie Mae Advocates for Additional Demographic Loan Data appeared first on DSNews.
Housing Wire
AUGUST 25, 2022
With 2022 more than halfway behind us, economic indicators continue to forecast minimal refinance volume while purchase volume faces its own headwinds. Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending.
GoForrmz
AUGUST 24, 2022
Set up your students for success by introducing tech into co-curricular experiences Involvement in college matters and what students do during their college tenure helps set them apart from their classmates as they embark on their next stage of life – the real world! In fact, The Ohio State University, Center for the Study of Student Life conducted an Involvement Study that covered how college student involvement is positively and directly related to career outcomes.
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