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Homeowners with mortgages gained $2.9 trillion in equity in the second quarter of 2021, a 29.3% year-over-year increase, according to a new report by CoreLogic released Wednesday. This marks an average gain of $51,500(!) per borrower since the second quarter of 2020. The amount of equity for a property is determined by comparting the estimated current value of the property against the mortgage debt outstanding (MDO).
Are buyers finally gaining more power? Yes. The truth is the market is still ultra-competitive, but there is a slightly better chance buyers can get into contract these days and maybe not pay as much above the asking price (maybe). Teaching my favorite class: On September 28th from 9am-12pm I’m teaching my favorite class at SAR […].
This content is password protected. To view it please enter your password below: Password: The post Protected: Capital One is hiring a Sr. Manager-level Commercial Real Estate Reviewer! appeared first on Appraisal Buzz.
I’ve been thinking of a good time to talk about this topic. I’ve gone back and forth on when to bring it up. It feels like now is as good a time as any to talk about the birds and the bees. Hey now! This is not the kind of “birds and the bees” conversation parents have with their children. Today I am talking about literal birds and bees. Chickens and honeybees to be precise!
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.
The National Association of Realtors reported existing home sales for August came in at a very tiny beat of estimates at 5,880,000. Now that we are a few days away from October, we can again say that the housing bubble boys and the forbearance crash bros have whiffed just as severely in 2021 as they did in 2020. So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000.
Builder confidence inched up in September on lower lumber prices and strong housing demand, even as the housing sector continues to grapple with building material supply chain issues and labor challenges. Ending a three-month decline, builder sentiment in the market for newly built single-family homes edged up one point to 76 in September, according to the National Association of Home.
Builder confidence inched up in September on lower lumber prices and strong housing demand, even as the housing sector continues to grapple with building material supply chain issues and labor challenges. Ending a three-month decline, builder sentiment in the market for newly built single-family homes edged up one point to 76 in September, according to the National Association of Home.
For the second month in a row, the economists at Fannie Mae revised expectations for near-term real GDP growth downward—and outward—due to persistent supply chain disruptions and labor market tightness, according to the September 2021 commentary from the GSE’s Economic and Strategic Research (ESR) Group. Those factors, they say, will affect the housing market as the … The post Supply Constraints Could Hinder Home Sales appeared first on theMReport.com.
Modernized Appraisal is a necessary part of coming lending regulation. Some think old methods are just fine. Others think advanced quantitative methods are necessary. What to do? Most of us started out learning about things like median, mean, maximum, minimum, and even standard deviation. “Descriptive statistics” they called it. Our teachers also showed us pretty […].
On Tuesday, the U.S. Census Bureau reported that housing starts hit 1,615,000 for August and housing permits came in nicely at 1,728,000. These data lines beat expectations, and we had slight positive revisions to the previous months — overall, a good report on all fronts. I have always been mindful that the month-to-month housing starts data can be wild, both positive and negative, so the trend is what matters the most.
Small changes can lead to big improvements. At some point, within almost every coaching session, I believe that some version of this topic comes up. I’ll suggest a fairly minor. Read More.
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.
Residential construction numbers were a surprise again in August. Permits for construction and housing starts were both higher than expected, however, multifamily numbers were driving the results. Housing permits were issued at a seasonally adjusted annual rate of 1.728 million units, a 6.0 percent increase from the 1.630 million permit rate (revised down from 1.635 million) in July and 13.5 percent higher than the 1.522 million number in August 2020.
Total housing starts increased 3.9% in August, due to strength for multifamily development. According to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, single-family starts were down 2.8% for the month, while overall multifamily starts was up 21% in August. The August total starts reading of 1.62 million starts is the number of.
Today the Census Bureau ‘s new home sales report came in as a beat of estimates at 740,000, but the most important aspect is that revisions came in positive for the prior months, which shows a more stable market as revisions are always key with new home sales and housing starts. From the Census Bureau: “Sales of new single?family houses in August 2021 were at a seasonally adjusted annual rate of 740,000, according to estimates released jointly today by the U.S.
When it comes to commercial real estate – both across the US and here in Columbus, Ohio – the diversity of enterprises and sheer size of the industry can be staggering. In fact, according to the US Energy Information Administration, there are an estimated 5.9 million commercial buildings in the US for a total of 97 billion square feet. By comparison, an Olympic-sized pool contains 13,455 square feet.
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.
The final day of the Five Star Conference 2021 featured two educational Labs geared toward servicing professionals, as they look to technology and its role in the future of the foreclosure process. The post Five Star Conference Labs Highlight Innovations in the Servicing Sector appeared first on DSNews. The post Five Star Conference Labs Highlight Innovations in the Servicing Sector appeared first on Appraisal Buzz.
After a prior cooling trend for the volume of new home sales, sales contracts increased 1.5% in August according to estimates from the Census Bureau and HUD. The August seasonally adjusted annual rate (740,000) was 24% lower than a year ago, when an unsustainable rebound took hold in the market. Higher prices have also affected housing affordability, with new home.
A former executive at loanDepot dropped a bombshell on the mortgage industry late Wednesday, alleging in a lawsuit that the California-based nonbank lender, in a ploy to drum up money during the refi boom and in preparation for its initial public offering, closed thousands of loans without proper documentation. The suit, filed by Tammy Richards, former chief operations officer, accuses loanDepot’s CEO, Anthony Hsieh, of ordering the sales team to “trust [their] borrowers” and close loans, disreg
Streamline your construction workflow by integrating your GoFormz digital forms with Acumatica Improving your construction operation’s efficiency, communication, and professionalism begins with digitizing critical documents and workflows. Job site documentation is a common obstacle to productivity for construction operations – forms take ages to complete, require manual delivery and processing, and are often riddled with errors.
Small changes can lead to big improvements. At some point, within almost every coaching session, I believe that some version of this topic comes up. I’ll suggest a fairly minor … Read More. The post Small Equals Big appeared first on Appraisal Buzz.
Housing affordability has been a key driver of the suburban shift of home building activity over the last year and a half. As the following analysis from the NAHB Home Building Geography Index reveals, lower density markets in general have higher housing affordability conditions, which explains the shift in construction activity. The second quarter HBGI examined county-level Price-to-Income ratios.
U.S. homebuilders started construction on 1.615 million homes in August, up 3.9% from July 2021 and 17.4% higher than a year ago, according to a new report by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Across the country, 1.728 million building permits were pulled, which is 6% above the revised rate from a month prior and 13.5% higher than the August 2020 rate.
Expedite service requests and enrich your digital forms with these impactful fields and features Many industries utilize digital service tickets in their own unique way. Whether it’s large corporations using digital service tickets within their IT departments or auto repair shops capturing service quotes, an incredible variety of businesses can benefit from digitizing their paper-based service forms.
This week, NAR releases its pending home sales report for August gauging how the third quarter of 2021 concluded in a red-hot year for the housing market. The post The Week Ahead: Did Home Sales Fizzle Out to End Q3? appeared first on theMReport.com. The post The Week Ahead: Did Home Sales Fizzle Out to End Q3? appeared first on Appraisal Buzz.
The Federal Reserve has been supporting the housing market during the virus crisis, the 2020 recession, and the subsequent, ongoing recovery via asset-backed purchases (among other tools), including $40 billion a month of mortgage-backed security (MBS) purchases. These MBS purchases have held interest rates lower than they otherwise would have been.
American suburbs surrounding the nation’s 50 largest metropolitan areas gained a total of 4.7 million new residents since 2010, with 3.7 million of them renters, according to a report by nationwide apartment search website RENTCafé on U.S. Census Bureau data. Today, an estimated 21 million people rent a suburban home in one of 50 largest metros. On average, renters made up 39% of the suburbs surrounding these metros.
Forty percent of survey respondents report that they are “barely covered” in the event of a natural disaster. The post Most Americans Unprepared for Future Natural Disasters appeared first on DSNews. The post Most Americans Unprepared for Future Natural Disasters appeared first on Appraisal Buzz.
The latest Federal Reserve Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that in the second quarter of 2021 the aggregate market value of all owner-occupied real estate in the United States registered the largest quarterly increase in the last 21 years of data. From $33.8 trillion in the first quarter of 2021, real estate.
Sales of new single-family homes in August increased 1.5% from the prior month, at a seasonally adjusted annual rate of 740,000, according to a report from the U.S. Commerce Department released on Friday. That’s the second straight month of rising sales for homebuilders, though there’s good reason to think the height of the frenzy is behind us.
As we’ve come through a full year living under pandemic conditions, what are some of the specific challenges for appraisers moving past COVID-19? ValueScape Analytics CEO William Leveson-Gower shares with Valuation Review his thoughts on this matter, and much more. Read on for the complete conversation.
Stagnant wages and rising valuations lead to less affordable homes for most of the U.S. . The post Price Runup Causes Home Affordability to Slip Again appeared first on theMReport.com. The post Price Runup Causes Home Affordability to Slip Again appeared first on Appraisal Buzz.
As tight inventory continued to push up prices, existing home sales fell in August but remain above pre-pandemic levels, according to the National Association of Realtors (NAR). Though the median existing home prices has increased 34% since January 2020, housing demand remains strong thanks to low mortgage rates and buyers are waiting for more inventory.
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