Housing Wire
FEBRUARY 24, 2022
Stocks fell Thursday as Russian troops launched a full-scale attack in Ukraine, and at least in the short-term, the turmoil could lower mortgage rates in the U.S. During large-scale disruptions, investors often flee to safer options, such as U.S. Treasury notes, bonds and mortgage-backed securities. All things being equal, that dynamic tends to put downward pressure on mortgage rates.
Sacramento Appraisal Blog
FEBRUARY 22, 2022
The market is going to crash. This time it’s going to be even worse. Have you been seeing more doom and gloom housing headlines? I sure have. This week I’ve had quite a few articles emailed to me. What do you think of this one? What do stats actually show? What do I say to […].
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Appraisal Buzz
FEBRUARY 25, 2022
The number of newly listed homes for sale during the four weeks ending February 20 was down just 2% year over year, according to a new report from Redfin. That’s the smallest decline since mid-November. More new listings were met with hearty demand. Pending sales rose 1%, the first increase since mid-January. The market again set new record highs for home sale prices, asking prices, buyers’ mortgage payments and the share of homes selling.
Cleveland Appraisal Blog
FEBRUARY 24, 2022
Hello everyone! Home businesses are becoming more common these days. This week, I welcome back guest blogger June Duncan, who wrote this article for the Cleveland Appraisal Blog. I hope you enjoy her great tips on moving and starting a home business! Part of running a home business successfully depends on having a home that works well for your lifestyle and your business.
Housing Wire
FEBRUARY 24, 2022
Zillow has been pilloried for diving headfirst into iBuying only to announce the money-losing enterprise’s demise in November. Meanwhile, Opendoor , the OG of an iBuying company with a national presence and patina of technological prowess, was upheld as doing things right. “If you read our SPAC filings,” Opendoor co-founder Keith Rabois, who is no longer part of company leadership, tweeted in November , “We explained how our algorithms actually work vs.
Eyes on Housing
FEBRUARY 22, 2022
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Recent data confirms this impact on the market continues to occur. According to fourth quarter 2021 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area increased.
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George Dell
FEBRUARY 23, 2022
The 1004MC “market conditions” appraisal addendum was created by Fannie Mae and Freddie Mac to require a form-based market analysis. This added to the traditional practice to collect a handful of ‘comps’ to opine and foretell market price. There are problems and unintended consequences. The ANSI requirement is that residential appraisers measure houses according to […].
Housing Wire
FEBRUARY 22, 2022
The S&P CoreLogic Case-Shiller 20-city price index posted a 18.6% year-over-year gain in December, up marginally from 18.3% the previous month. The index increased 1.5% from November 2021. The national home price index showed similar helium, with an 18.8% growth rate between December 2021 and December 2020, basically in line with price growth in November.
Eyes on Housing
FEBRUARY 21, 2022
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded by 10.8% in 2021 amid strong demand for move-up purchases given a rise in existing home equity. There were 49,000 total custom building starts during the final quarter of 2021. This marks a 11.4% gain from the fourth quarter of 2020.
Appraisal Buzz
FEBRUARY 21, 2022
The world is more connected than ever before, with networked devices and practices making their way into nearly every industry in the world. This has made many aspects of our lives easier and more efficient, but it has its downsides. Cybersecurity was easy to overlook when networked systems were starting to appear, but now, it is an essential part of any business or industry that uses online networks.
The Appraiser Coach
FEBRUARY 22, 2022
What makes a contract a contract? Is it the legal prose, the professional typesetting, or the date across the top? I’m no lawyer, but my mentor once told me that. Read More.
Housing Wire
FEBRUARY 23, 2022
Mortgage applications decreased 13.1% for the week ending Feb. 18 to the lowest level since December 2019, as mortgage rates eclipsed the 4% mark. The Mortgage Bankers Association ‘s seasonally adjusted refi index fell 15.6% from the previous week, bringing its share of total applications to almost equal the purchases share at 50%. Meanwhile, the purchase index dropped 10.1%, falling again for the third straight week.
Eyes on Housing
FEBRUARY 22, 2022
National home prices grew at an unsustainable pace in December, supported by strong demand and record-low inventory. Home price appreciation is expected to slow in the coming quarters as rising mortgage rates price some homebuyers out of the market. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual.
Appraisal Buzz
FEBRUARY 21, 2022
Allyson Foley has joined Plaza Home Mortgage as executive vice president, wholesale operations. In addition, Jeff Leinan, former executive vice president, national wholesale production, will assume the newly created role of president of wholesale production. Foley previously worked for Stearns Lending, where she was executive vice president, operations, and was responsible for operations and underwriting for the company’s wholesale platform.
Raleigh Realty
FEBRUARY 19, 2022
One of the first questions new Realtors have for me is always 'how much money will I make in my first year?' and in order to answer that question, you need to understand how Real Estate Agents make money. How much commissions you make in your first year as a Realtor will be entirely dependent on you and how much business you're able to generate. Your gross income is different than your net income, so make sure you're tracking your expenses.
Housing Wire
FEBRUARY 25, 2022
The Federal Housing Administration (FHA) announced on Thursday the launch of a new portal for the Department of Housing and Urban Development ’s Single Family Mortgage Asset Recovery Technology (SMART) system. The streamlined SMART portal allows borrowers and servicers to request payoff amounts in real time for FHA partial claims or subordination checklists, which are used to refinance FHA loans.
Eyes on Housing
FEBRUARY 24, 2022
Confidence in the market for new multifamily housing improved in the fourth quarter of 2021, according to the latest results from NAHB’s Multifamily Market Survey (MMS). The MMS produces two main indices. In the fourth quarter, the Multifamily Production Index (MPI) increased one point to 54 from the previous quarter while Multifamily Occupancy Index (MOI) decreased six points to 69.
Appraisal Buzz
FEBRUARY 25, 2022
The Federal Housing Finance Agency (FHFA) has published a final rule that amends the Enterprise Regulatory Capital Framework (ERCF) by refining the prescribed leverage buffer amount (leverage buffer) and risk-based capital treatment of retained credit risk transfer (CRT) exposures for Fannie Mae and Freddie Mac (the enterprises). Specifically, the final rule will replace the fixed leverage buffer equal to 1.5% of an Enterprise’s adjusted total assets with a dynamic leverage buffer equal to
DW Slater Company
FEBRUARY 24, 2022
FannieMae and Freddie Mac both announced early this year the implementation of the use of Desktop Appraisals beginning in March. There has been much discussion and questions regarding these products so I thought I would share some information and thoughts on the topic. Why would the GSEs want this product? Appraisal Modernization- Many in the industry are trying to move the appraisal industry to modernize with the use of technology and data gathering services.
Housing Wire
FEBRUARY 22, 2022
The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Explosive supply and labor costs are forcing long delays and leaving builders out of pocket, as the United States’ property fervor drives insatiable demand. . Many people are referring to this time as a ‘profitless boom’ for the building industry.
Eyes on Housing
FEBRUARY 25, 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.
Appraisal Buzz
FEBRUARY 25, 2022
A new analysis shows the US states with the largest and smallest homeownership gaps by race and ethnicity compared to the statewide rate. Polygon Research and the Homeownership Council of America (HCA) released a new analysis showing the states with the largest and smallest homeownership gaps by race and ethnicity, compared to the statewide rate. … The post Understanding Racial Disparities in Homeownership appeared first on DSNews.
Raleigh Realty
FEBRUARY 21, 2022
How to Measure The Square Footage of a House Are you wondering how to calculate and measure square feet to figure out the square footage of a house? We have you covered in the article below with a guide on how to determine the total square footage of a house When determining how to measure the square footage of a house, it may come as a surprise that there is not a national standard for measuring residential property.
Housing Wire
FEBRUARY 24, 2022
The new home sales report came in as a miss of estimates at 803,000, but positive revisions make the report much better than the headline. To be honest here, the new home sales market is stuck for now. While housing permits have been growing, completions have gone nowhere for years. The builders have pushed their pricing power on American consumers, and as long as new home sales can grow, they will use their pricing power to offset all the other costs in this economy of higher prices and shortag
Eyes on Housing
FEBRUARY 24, 2022
New single-family home sales posted a small decline in January as housing demand was affected by a jump in mortgage rates. The January pace of sales was nonetheless solid due to a lack of resale inventory and ongoing need for new construction. The U.S. Department of Housing and Urban Development and the U.S.
Appraisal Buzz
FEBRUARY 25, 2022
CoreLogic has released its latest Real Estate Property Tax Delinquency Report, which analyzes real estate property tax delinquency changes on a state levels and nationally. The latest data shows that delinquency rates dropped 0.4% to 5.9%. The report, which measures national and state property taxes delinquency rate percentages ranging from 2011-2021.
Raleigh Realty
FEBRUARY 19, 2022
How to Find Property Lines Searching for a property lines map? Want to know how to find your property lines for free? We are going to go over some tips and tricks to help you find your property lines online for free, using satellite maps, as well as when it's time to hire a professional to help you find your property lines. Wondering how to find your property lines?
Housing Wire
FEBRUARY 25, 2022
This week’s HW+ member spotlight features Chris Heller, chief real estate officer at OJO Labs , who has over 30 years of experience in the real estate industry. From Rookie of the Year in 1989, to serving as CEO for Keller Williams and mellohome , Heller has dedicated his career to delighting homebuyers and supporting agents. As chief real estate officer, Heller oversees all industry partnerships, creating a direct line between real estate professionals and OJO, and accelerating adoption in the
DW Slater Company
FEBRUARY 21, 2022
This picture was taken at a ranch in North Texas. “February is the border between winter and spring.” ? Terri Guillemets. As we near the end of the shortest month of the year, we hope that February has been a good month for you. We had a bit of PTSD this past week, as we had another winter storm hit our area last week. If you recall, last year is when Texas experience the tragic winter storm and the power grid failed and 246 lost their lives.
Appraisal Buzz
FEBRUARY 25, 2022
Pending home sales slumped in January, continuing what is now a three-month drop in transactions, the National Association of Realtors reports. Of the four major U.S. regions, only the West registered an increase in month-over-month contract activity. All four regions posted a decline in year-over-year activity. The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, fell 5.7% to 109.5 in January.
Raleigh Realty
FEBRUARY 19, 2022
Buying a House in Raleigh, NC? What you Must Consider: If you're buying a home in Raleigh, NC there are things you must consider BEFORE you start searching for homes for sale in Raleigh. One of the largest reasons some buyers walk away from a home purchase feeling remorseful is because they don't consider everything about purchasing real estate before they jump into it.
Housing Wire
FEBRUARY 22, 2022
Servicers’ forbearance portfolio volume continued to drop in January, but some borrowers exiting plans are still facing financial challenges. The total number of loans in forbearance decreased by 11 basis points, from 1.41% in December to 1.30% in January, according to the Mortgage Bankers Association (MBA). In total, about 650,000 homeowners were in forbearance plans as of January 31.
Appraiserblogs
FEBRUARY 21, 2022
As Real Estate Appraisers, we are encountering an assault on our profession from the GSE’s with the hybrid appraisal reports, the rollout of the new desktop product and with appraisal waivers. These junk reports and the waivers continue to undermine the public trust in our industry and leave the appraisers exposed to great risk and the consumers left holding the bag if their mortgage goes south.
Appraisal Buzz
FEBRUARY 24, 2022
By many metrics, 2021 was the best year on record for the housing market, millions flocked to the market snapping up anything they could afford due to rising prices and rock-bottom interest rates. But one metric in particular, the U.S. homeownership rate, saw its biggest rise in history—1.3% to 65.5%—the highest increase on record and … The post U.S. homeownership Rate Rises to Post-Recession High appeared first on DSNews.
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