Housing Wire
OCTOBER 5, 2021
Nearly one quarter of U.S. home sellers received four or more offers on their home in 2021, according to Zillow’s latest consumer housing trends report. The rise in the number of homes that received multiple offers is reflected in the increased frequency of bidding wars in 2021. Typical sellers received two offers, which is the same as the past three years.
Sacramento Appraisal Blog
OCTOBER 5, 2021
Tech companies and investment funds have their eye on residential housing. I wrote about this a few months ago and wanted to do a follow-up piece. Here are some things on my mind as well as fresh visuals. Any thoughts? TWO THINGS: 1) iBuyers are on a rampage: The iBuyer model has been on a […].
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Appraisal Buzz
OCTOBER 4, 2021
MCLEAN, Va. Freddie Mac (OTCQB: FMCC) today released an analysis showing that appraisal values are more likely to fall below the contracted sale price of a home in census tracts with a higher share of Black and Latino households, resulting in an appraisal gap. The extent of that gap increases as the percentage of Black and Latino individuals in the census tract increases.
The Appraiser Coach
OCTOBER 5, 2021
I mentor a lot of appraisers from all across the nation. Most of the time, appraisers ask me how to do something such as, how to get their business to. Read More.
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Housing Wire
OCTOBER 8, 2021
Skyrocketing U.S. home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. The median home price nationwide in August increased 14.9% from a year ago to $356,700, according to the National Association of Realtors. August marked the sixth consecutive month where median home prices increased by double-digit percentages from a year ago.
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Appraisal Buzz
OCTOBER 8, 2021
The U.S. economy added roughly 194,000 jobs in September, beating expectations and driving the unemployment rate down to 4.8%, according to the the U.S. Bureau of Labor Statistics. Sectors that saw the greatest job gains in September included leisure and hospitality, professional/business services, retail, and transportation/warehousing. The construction sector, however, only added 22,000 jobs in September and has shown little net change thus far this year, the BLS notes.
George Dell
OCTOBER 6, 2021
Fannie Mae’s Director of Collateral Policy, Lyle Radke, spoke at the Housing Wire conference this week. The audience was mostly non-appraisers. They laughed when he said: “Appraisers see their job as an art form. It’s hard for them to rigorously explain exactly what they’re doing.” For the record, what we do at Valuemetrics.info is exactly […].
Housing Wire
OCTOBER 5, 2021
Former banker Matthew Feldman has been named chairman of the board of managers at the Federal Housing Finance Agency – controlled Common Securitization Solutions , where he will lead a transition to better align the organization’s “corporate governance structure with its core mission,” FHFA announced today. That core mission is to provide the infrastructure to support government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac in issuing mortgage-backed securities.
Eyes on Housing
OCTOBER 7, 2021
Of the roughly 990,000 single-family homes started in 2020, only 19.3 percent included decks, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD). This marks the third year in a row the share of new homes with decks has declined, and the first time the share.
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Appraisal Buzz
OCTOBER 8, 2021
The number of mortgages in forbearance saw its l argest reduction in 12 months l ast week. Black Knight said 177,000 loans exited the program, many of them having reached the end of the 18 months of reduced or suspended payments allowed for those financially impacted by the COVID-19 pandemic. This is an 11 percent reduction in program participants during the week ended October 5.
GoForrmz
OCTOBER 6, 2021
Utilize new, innovative technology to bolster your real estate initiatives and workflows Digital transformation has become more prevalent than ever before. Many industries have been forced to make technological advancements to keep pace with the rapid pace of modernization – one of which being the real estate industry. PropTech (Property Technology) has become the new industry buzzword that has highlighted innovative solutions and technology to further advance and modernize the way you research,
Housing Wire
OCTOBER 4, 2021
In several previous articles I have opined that an increase in mortgage rates may be our only hope for slowing the escalation of home prices that we’ve been experiencing for the past year. With mortgage rates hitting above 3% last week for the first time since June, it’s a good time to revisit this conversation and what we should expect next for mortgage rates.
Eyes on Housing
OCTOBER 8, 2021
Job gains slowed for the second straight month amid the resurgence of COVID-19 cases. Total payroll employment rose by 194,000 in September and the unemployment rate dropped to 4.8%. For the coming months, job gains are expected to accelerate as COVID-19 cases began to subside. Despite the slowdown in total nonfarm payroll employment, aggregate construction industry (both residential and non-residential).
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Appraisal Buzz
OCTOBER 8, 2021
Freddie Mac plans to offer at least $3 billion in single-family affordable housing bonds. This new bond program will support affordable homeownership and serve historically underserved markets. To underscore this effort, the company is offering approximately $285 million in Uniform Mortgage-Backed Securities backed by loans purchased through its Home Possible program.
Appraiserblogs
OCTOBER 7, 2021
…any suspicion of a discriminatory appraisal by the holder of a real estate appraiser license… Folks in the Golden State, here’s something you’d better keep a very keen eyeball on: Appraiser Discrimination – AB 948 (Holden) Signed by Gov. Newsom This law requires a purchase agreement in a real estate transaction to inform a seller and buyer of the opportunity to report, through the Department of Consumer Affairs’ internet website or telephone number, any suspicion of a di
Housing Wire
OCTOBER 7, 2021
The average 30-year-fixed mortgage rate slipped back down to 2.99% for the week ending Oct. 7, according to Freddie Mac ’s latest PMMS survey. The week before , rates had made it above the 3% mark for the first time since June. Sam Khater, Freddie Mac’s chief economist, said in a statement that rates remain close to 3% as a result of continued unknowns in the financial markets, as the pandemic lingers on.
Eyes on Housing
OCTOBER 6, 2021
Homeownership continues to be a primary driver of household wealth, according to the 2019 Survey of Consumer Finances (SCF). Though homeownership rates increase with age, young households, those under the age of 35, experienced the largest gains for homeownership in 2019. Additionally, the share of young households with home mortgage debt and auto loans increased, while share with education loans.
Appraisal Buzz
OCTOBER 8, 2021
In a letter to the White House, NAHB Chairman Fowke outlined three major areas of concern for home builders that may negatively impact the overall U.S. economic landscape. The post NAHB Urges Biden to Address Home Construction Bottlenecks appeared first on theMReport.com. The post NAHB Urges Biden to Address Home Construction Bottlenecks appeared first on Appraisal Buzz.
Hank Miller Team
OCTOBER 7, 2021
The idea that a company or investment firm will provide a cash offer for your home is instinctively positive, what’s not to like? To be clear, this is called a “direct sale” as the home isn’t offered for sale in traditional ways. Usually a buyer contacts a seller directly (often initiated by the seller) with an offer and terms of sale. Executed correctly, an off market or direct sale cash transaction can be completed very quickly; about as long as it takes to clear title and get the closing docs
Housing Wire
OCTOBER 6, 2021
Fannie Mae announced Wednesday that, starting in 2022, it will allow third-parties to fulfill the homeownership education requirement on some affordable mortgages. Third-party homeownership education providers will still have to be aligned with the National Industry Standards for Homeownership Education and Counseling or with the Department of Housing and Urban Development Housing Counseling Program, if it is not a HUD-approved counseling agency.
Eyes on Housing
OCTOBER 4, 2021
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2021 compared to the first quarter of 2021. According to the U.S. Bureau of Economic Analysis (BEA), the percent change increase in real GDP ranged from 9.7 percent in Nevada to 1.8 percent in Alaska. Nationwide, growth in real GDP, measured.
Appraisal Buzz
OCTOBER 8, 2021
As part of the Presidents’ plan to confront the changing climate, the U.S. Department of Housing and Urban Development (HUD) released a plan on how it can adapt to a world with a changing climate and to ensure that its operations are resilient to potential impacts. The plan was announced alongside 23 other federal agencies who each released their own set of plans.
BiggerPockets
OCTOBER 7, 2021
Increasingly, Americans are viewing climate change as a serious issue. A poll taken earlier this year by Morning Consult found that 50% of Americans say climate change is a “critical […].
Housing Wire
OCTOBER 4, 2021
Over half of Realtors said that social media was their top lead-generating technology tool, according to a new survey report from the National Association of Realtors. The most popular social media app among the random sample of Realtors surveyed was Facebook , with 90% of respondents reporting they used the app, followed by Instagram at 52% and LinkedIn at 48%.
McKissock
OCTOBER 3, 2021
As part of our contributor series, Daniela Andreevska , content marketing director at Mashvisor , talks about investment property strategies. Mashvisor provides a real estate analytics tool that helps real estate investors quickly find traditional and Airbnb investment properties. . One of the best aspects of real estate investing is the variety of options that you can choose from.
Appraisal Buzz
OCTOBER 8, 2021
An upcoming Legal League 100 webinar examines the operational changes that servicers must navigate in addition to the new rules and regulations governing their foreclosure business. The post The Week Ahead: Balancing Regulatory and Operational Changes as Foreclosure Volume Increases appeared first on DSNews. The post The Week Ahead: Balancing Regulatory and Operational Changes as Foreclosure Volume Increases appeared first on Appraisal Buzz.
BiggerPockets
OCTOBER 6, 2021
It’s not uncommon for investors to start out by buying properties in their home markets. It makes things like neighborhood research, rehabs, and tenant showings so much easier when you’re […].
Housing Wire
OCTOBER 7, 2021
It is no surprise that four Californian metropolitan areas led the way in unaffordability in September. Interestingly, San Diego actually surpassed Los Angeles in unaffordability, according to a new report from OJO Labs. The report is based on data collected from every metro area in which more than 1,000 homes were sold in September. San Diego’s median home sold price rose to $750,000 in September, marking a 2.4% increase from August and a 20% year-over-year increase.
McKissock
OCTOBER 6, 2021
It seems like it was just yesterday when people were downsizing their homes, gravitating towards properties with public communal spaces, and fawning over open floor plans. But today? The pandemic has changed all of that. Not only are more people relocating to larger, more remote homes outside of big cities, they’re also redesigning the inside of those homes to better align with their not-quite-lockdown, not-quite-post-pandemic lifestyle.
Appraisal Buzz
OCTOBER 8, 2021
The Bureau of Labor Statistics projects that job growth for appraisers between 2019–2029 will be 3%, which is on pace for all occupations. Since the real estate market impacts the work of real property appraisers, demand for appraisers can fluctuate from year to year. However, in general, the need for appraisers is increasing due to long-term economic expansion and population growth.
BiggerPockets
OCTOBER 4, 2021
Once the housing market started to slide in 2007, smart investors began buying, and waiting, for rock-bottom prices to kick in. Investors were buying homes in some of the best […].
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