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The U.S. Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA). The Manufactured Home Community loan product will “will help entities to preserve, stabilize, and revitalize these vital sources of affordable housing,” the department explained.
FinanceBuzz recently surveyed homeowners to find out what home maintenance tasks they are putting off, and the average cost of these delayed maintenance tasks and repairs. FinanceBuzz’s Josh Koebert analyzed data from 1,000 surveyed U.S. homeowners, aged 18 or older from April and May 2024. Of those surveyed, a majority of homeowners (three out of every five) or 60% are putting off some kind of necessary repair or maintenance project around the house.
Cash buyers are really showing up. They are the X factor this year to explain the bump in volume we’ve seen compared to last year. Today, I have some really cool stats to unpack what is happening in nine local counties. If you’re not in Sacramento, is this happening in your area too? UPCOMING SPEAKING […] The post Cash buyers are the X factor in 2024 first appeared on Sacramento Appraisal Blog.
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.
A report released Wednesday by Realtor.com shows that a key measurement of U.S. home values is growing faster that the more commonly viewed metric of listing price. The analysis revealed that, across the 50 largest U.S. metro areas, price per square foot rose by 52.7% during the five-year period ending in May 2024. By comparison, the national median list price for a home jumped 37.5% during the same period to its current level of $442,500.
CoreLogic has issued its 2024 Hurricane Risk Report , offering an analysis of hurricane risk in the U.S., shedding insight for property owners, insurers, and policymakers. This upcoming hurricane season, the National Oceanic and Atmospheric Administration (NOAA) anticipates a return to La Niña conditions in the Pacific Ocean, with North Atlantic Ocean sea surface temperatures already warmer than any previous year on record.
CoreLogic has issued its 2024 Hurricane Risk Report , offering an analysis of hurricane risk in the U.S., shedding insight for property owners, insurers, and policymakers. This upcoming hurricane season, the National Oceanic and Atmospheric Administration (NOAA) anticipates a return to La Niña conditions in the Pacific Ocean, with North Atlantic Ocean sea surface temperatures already warmer than any previous year on record.
Some believe more buyers will come to the table without agents. That could lead to fertile breeding grounds for the polarizing practice sometimes known as "double ending.
Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 trillion in equity over the past year, according to a CoreLogic report released Friday. The average U.S. homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022.
The Consumer Financial Protection Bureau (CFPB) has issued “ CFPB Circular 2024-03: Unlawful and Unenforceable Contract Terms and Conditions ,” warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. According to CFPB Circular 2024-03 , companies use fine print tactics to try to trick consumers into believing they have given up certain legal rights or protections.
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.
Four days after Bing Real Estate came under fire for its alleged co-opting of listing data from Zillow, Redfin and Realtor.com, Microsoft has removed for-sale listing data from its site.
Mortgage rates have been a bit more volatile recently due to hawkish Federal Reserve statements and inflation data, which has impacted some of the recent movement in the 10-year yield. But now we have the big jobs week coming up! So, what does this all mean for the housing market and the future of mortgage rates? 10-year yield and mortgage rates As we approach a crucial week for mortgage rates , the 10-year yield and labor data could influence the Fed’s decisions.
CoreLogic has updated its Home Price Index (HPI ) and HPI Forecast for April 2024. In April, annual home price appreciation in the United States remained above 5%, with three states seeing double-digit gains. By next spring, national price growth is expected to drop to 3.4%, with only a few states experiencing increases of more than 6%. This slow cooling reflects not only an increase in the quantity of properties on the market in some regions of the country, but also increased 30-year fixed-rate
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.
Industry watchers are sounding the alarm about Microsoft's Bing Real Estate, a site that for several months has been reposting listings from Zillow, Realtor.com and Redfin without explanation.
Watch the conversation with industry news leader Mitch Robinson as he offers advice for working with local news outlets to “tell your story in a proactive way.
Mortgage rates decided to bounce back into the 7s this week. We can see an impact in that immediately as home sales are slowing down. These are the homes that go into contract immediately after listing. We also see new pending sales slowing and price reductions ticking up. The most notable thing in the data this week is that, while home prices nationally are still holding a few percentage points higher than last year, home prices have started to decline in a few states — Florida, Arizona and Tex
According to Realtor.com May housing data , median list prices have grown 37.5% from May 2019, yet inventory has decreased 34.2% compared to normal 2017 to 2019 levels, indicating that the market remains seller-friendly. “In addition to higher median list prices and fewer homes for sale versus 2019, the increase in median price-per-square foot suggests that the typical home on the market today is worth 52.7% more than before the pandemic, more than double the roughly 23% increase in consumer pri
MLSs will no longer display offers of compensation, but some online startups say they have workarounds that comply with new rules. The DOJ may disagree.
Consumer attitudes toward the purchase of a home fell “markedly” in May, while the percentage of consumers who said it was a “bad” time to buy a home grew month over month from 79% to 86%, according to new survey data from government-sponsored enterprise (GSE) Fannie Mae. The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 2.5 points in May to 69.4, marking an all-time low in the measurement of consumer sentiment toward homebuying.
According to a new report from CoreLogic entitled the Homeowner Equity Report (HER), American homeowners with a mortgage pulled in $28.000 in equity gains year-over-year during the first quarter of 2024, the highest recorded since late 2022. According to CoreLogic, mortgage holders account for roughly 62% of all U.S. residential properties and they saw, in percentage terms, a gain of 9.6% year-over-year representing a collective gain of $1.5 trillion collectively since the first quarter of 2023
I walked a few blocks from our Manhattan office to the Wall Street Journal to be interviewed for their digital piece on how to think about renovations in a home and their contribution to value. The home was located in Coeur d’Alene, Idaho. I get to provide sage advice from an appraiser’s perspective. The post [WSJ Digital] The Total Renovations Behind This Home’s $1.8M Listing Price first appeared on Miller Samuel Real Estate Appraisers & Consultants.
Job creation that exceeded expectations in May has reinforced the perception that the Federal Reserve will maintain the same benchmark interest rates at its June meeting and may delay any rate cuts that were planned for this year. This means that mortgage rates are likely to be higher for even longer than previously expected. The U.S. economy added 272,000 jobs in May, above the market consensus estimate of 180,000.
According to a new report from Intercontinental Exchange, Inc (ICE) covering June 2024, data shows that annual home price gains continued to cool in April, marking the second month of pullbacks. Gains of +6.1% year over year in February slowed to a revised +5.7% in March before easing to +5.1% as of April. As ICE’s VP of Enterprise Research Strategy Andy Walden explains, the cooling is apparent from both seasonally adjusted and unadjusted perspectives.
Following a few days of declining bond yields and mortgage rates this week, the trajectory took a significant turn on Friday with the release of favorable labor data , sparking a notable increase in the 10-year yield, a key indicator for those in housing. The BLS jobs report shows the honey badger labor market woke up and once again chose violence this morning.
The Fannie Mae Home Purchase Sentiment Index (HPSI) declined 2.5 points to 69.4 in May, as the component evaluating consumer views toward homebuying circumstances fell sharply, reaching an all-time survey low. This month, only 14% of consumers said it was a good time to buy a property, down from 20% the previous month, while 67% said it was a good time to sell.
How did this “official” ROV process happen? We used to just swim, now we have a rowboat and an oar! Editor’s Note: To read the entire Row, Row, ROV series, and a few more posts on Reconsideration of Value, click here. ROV (Reconsideration of Value) is ostensibly motivated by bias issues, as well as other […] The post Row Row ROV? Pt 3 appeared first on George Dell, SRA, MAI, ASA, CRE.
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