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Today, the U.S. Census Bureau reported that housing starts hit 1,534,000 for July, missing estimates. Permits, on the other hand, beat estimates, coming in at a seasonally adjusted rate of 1,635,000. Positive revisions to the previous data were made, but not by very much. This mixed bag of results reflects the typical variability in the data that occurs when not too much has been happening in housing except that monthly supply has been rising for the new home sales market.
I have three things on my mind today. I’d love to share a helpful analogy for today’s housing market, let’s talk about unrealistic seller expectations, and then unpack some fresh stats. Real Estate Week: Next week I’ll be taking part in a free video interview with The Sacramento Bee to talk about the insanity of […].
Like many busy appraisers, I can spend a lot of time in my own little world just trying to keep my head above water. Trying to meet deadlines, keep my clients informed, and put out a quality product in this busy market is enough to make my head spin. Lately, though, I’ve been trying to carve out some extra time to find out about what other appraisers are saying and doing in this unusual market.
If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. I’ve written about this topic in the past. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. However, oftentimes, it does not. .
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. But there are definitely a few main things to looks out for — many of which are carrying over from a turbulent 2020 and early 2021 — when it comes to the upcoming landscape for the rest of 2021: Lack of inventory Fluctuating interest rates Increased adoption of technology.
One of the problems with my normally preferred year-over-year comparisons with metrics to diffuse seasonal impact is that the year-ago period happened to be the pandemic lockdown. I went through the region using our market report series for Douglas Elliman , comparing the same period two years ago to capture the pre-COV ID market and prices. and sales are up with the exception of Manhattan and North Fork.
One of the problems with my normally preferred year-over-year comparisons with metrics to diffuse seasonal impact is that the year-ago period happened to be the pandemic lockdown. I went through the region using our market report series for Douglas Elliman , comparing the same period two years ago to capture the pre-COV ID market and prices. and sales are up with the exception of Manhattan and North Fork.
Oaktree Funding, a wholesale mortgage lender, is now a participating lender in Calyx Point , the loan origination system from Calyx. Oaktree Funding offers a wide range of mortgage products, including competitive non-QM and non-agency programs: for example, low-document bank statement and investor loans with limits as high as $4 million. “As the refinance market contracts, brokers will need new products, like non-QM, to replace the volume,” says Kristopher Martin, co-CEO at Oaktree, in a.
How much do you need to make each month? While it’s going to vary from person to person, you should know how much you need every single month in order. Read More.
The average 30-year fixed-rate mortgage declined slightly to 2.86% for the week ending in August 19, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates rose to 2.87% , after six consecutive weeks of mortgage rate declines. This week’s slight decline tracks closely with downward-trending U.S. Treasury yields.
If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. I’ve written about this topic in the past. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. However, oftentimes, it does not. .
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.
Brian Paine has joined Knowledge Coop , which offers compliance training to the mortgage industry, as director of technology. Paine comes to Knowledge Coop after spending nearly four years at PayPal as both a security architect and infrastructure architect. Paine has also served in integral technology roles at Entisys360, Western Precooling, Live Nation, Charles Schwab and Nordstrom.
Builder sentiment in the market for newly-built single-family homes fell five points to 75 in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index is at its lowest point since July 2020. Higher construction costs and supply shortages have led to significant price growth, which in turn has caused prospective buyers to.
Housing starts in the U.S. fell 7.0% in July compared to the prior month, an indication that construction supply lines are still choked and near record-high home prices are shutting out scores of buyers. The U.S. Commerce Department ‘s Census Bureau said housing starts dropped to a seasonally adjusted annual rate of 1.534 million units last month, which was marginally better than June’s 1.65 million units.
Picking comparable sales is critical. Selecting the ‘best’ four or five ‘comps’ requires experience and training. Appraisal education tells us a good comparable is competitive, similar, and able to be compared. Customary training and practical experience generally focus on analysis and presentation of three to six comparables. Unfortunately, this is NOT what is required by […].
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
Advantage Systems , a provider of accounting and financial management tools for the mortgage industry, has updated its ApprovalSoft solution with a new invoice splitting feature as well as general updates to the system, improving its speed, documentation and automation capabilities. In the company’s latest string of software upgrades, the principal update includes its invoice splitting function.The newest feature allows the user to easily create separate “approvables” for each invoice within an
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction in the second quarter of 2021 posted the highest count of starts in 14 years. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction lagged for much of 2020.
Congratulations to all of the entrepreneurs, founders and executives who have survived the onslaught of phone calls, emails and DMs from first-year private equity associates (yeah… we’re looking at you Summit Partners ….). But hey, growth equity firms and potential acquirers blowing up your cell phone is certainly not the worst thing in the world. The companies recognized in the 2021 Inc. 5000 list are nothing short of exceptional.
Seamlessly share editable digital form drafts with users outside of your GoFormz account to capture event details It’s imperative that event planners and catering companies are effective and efficient when capturing client information and organizing various simultaneous requests. By digitizing and streamlining workflows , event planners and catering service companies can increase efficiency, reduce stress, and access real-time data anywhere, anytime.
An analysis of HMDA data by the CFPB has found that closed-end originations increased in 2020 by 65.2%, with much of that spike due attributed to the refinance boom. The post Refis Propel Surge in Originations in 2020 appeared first on theMReport.com. The post Refis Propel Surge in Originations in 2020 appeared first on Appraisal Buzz.
For the first time since the Census Bureau’s 2005 survey redesign, the share of new homes with patios broke above 60 percent in 2020. More specifically, of the roughly 990,000 single-family homes started in 2020, 61.4 percent came with patios. This number comes from NAHB tabulation of data from the Survey of Construction, which is partially funded by HUD.
Mortgage applications decreased 3.9% for the week ending Aug. 13 compared to the week prior and fewer borrowers opted to refinance, according to the latest report from the Mortgage Bankers Association. Ten-year Treasury yields rose overall but tapered off slightly at the end of last week , and 30-year mortgage rates tracked by the MBA reached 3.06%.
Answer: No, you do not have to use the same form fields within both views When it comes to building out your digital forms, there are two different approaches to how you can configure your form layout: Form View and List View. Form View displays your form fields just as a paper form would, and is configured by uploading an existing form to the GoFormz Template editor.
The full-year 2021 real GDP growth forecast has been revised modestly downward due in part to the expectation that COVID-related disruptions to consumer spending and supply chains will more greatly hinder economic activity in the second half of the year than previously forecast, according to the August 2021 commentary from Fannie Mae ’s Economic and Strategic Research (ESR) Group.
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building posted the second best quarter since the Great Recession during the Spring of 2021. There were 54,000 total custom building starts during the second quarter of the year. This marks a 15% gain from the second quarter of 2021, a comparison affected.
Low-fee, team brokerage and alternative models lead the 2021 Inc. 5000 rankings, mirroring the 2021 RealTrends 500 rankings. Some 69 fast growing real estate brokerage firms, teams and alternative models made the list. Top Verticals. Growth. Mortgage. Tech & Solutions. Title. At the top of the real estate/alternative model category, at No. 56, was Big Block Realty , which ranked No. 160 by sides and No. 91 by volume in the RealTrends 500 (RT500).
Understanding Due Diligence and Earnest Money in North Carolina Real Estate When you go under contract on a home in North Carolina you are going to encounter terms like Due Diligence and Earnest Money. It's important to note that real estate contracts and laws change depending on what state you are in. Whether you are a first-time home buyer or you're buying again, you will want to know how Due Diligence and Earnest Money impact you as a buyer or seller in North Carolina The following article is
An examination of existing-home sales by NAR will gauge the nation’s housing inventory, as high prices are forcing more to re-consider their purchase decision. The post The Week Ahead: Relief in Store for Housing Supply? appeared first on theMReport.com. The post The Week Ahead: Relief in Store for Housing Supply? appeared first on Appraisal Buzz.
Over the six months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 589,146. On a year-over-year (YoY) basis, this is a 35.9% increase over the June 2020 level of 433,484. Year-to-date ending in June, single-family permits increased in all four regions. The Northeast region reported the strongest increase of 39.6%, followed by the Midwest (+35.
The mortgage market had a stunning year in 2020, with closed-end originations increasing by 65.2% from the year prior, a Home Mortgage Disclosure Act (HMDA) report published by the Consumer Financial Protection Bureau this week disclosed. But some of the industry’s same problems remained in 2020. According to the report, comprised of data provided by 4,472 financial institutions, the increase was predominantly driven by the refi wave , with originations jumping from 8.3 million in 2019 to
Looking at warehouses for rent in Columbus, Ohio might leave you empty-handed or, at the very least, with an unflattering representation from the good old Oxford English dictionary. The definition reads as follows: “a large building where raw materials or manufactured goods may be stored before their export or distribution for sale.”. Jolly good, right ?
The strategic acquisition of servicing rights and personnel will benefit rural America’s lending institutions, says CEO Brad Nordholm. The post Farmer Mac Expands Loan Servicing Function appeared first on DSNews. The post Farmer Mac Expands Loan Servicing Function appeared first on Appraisal Buzz.
Data from the 2020 Census Bureau’s Survey of Construction (SOC) show that total multifamily units completed in 2020 increased by six percent to 375,000, the largest annual count of multifamily units completed in thirty years. The number of multifamily units completed were divided between 348,000 units built for-rent and 28,000 units built for-sale, increasing in both categories from the prior.
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