Housing Wire

JUNE 5, 2024

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.

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Appraisal Buzz

JUNE 5, 2024

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.

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Sacramento Appraisal Blog

JUNE 6, 2024

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.

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Real Estate News

JUNE 4, 2024

91% of Gen Zers in a recent survey said the cost of housing will play into who they vote for in November’s presidential election.

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Housing Wire

JUNE 5, 2024

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.

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Appraisal Buzz

JUNE 3, 2024

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.

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Real Estate News

JUNE 7, 2024

Fannie Mae’s sentiment index hit a new low in May, with only 14% saying now is a good time to buy a home, but sales activity is expected to increase.

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Housing Wire

JUNE 7, 2024

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.

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Appraisal Buzz

JUNE 4, 2024

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.

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Inman

JUNE 7, 2024

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.

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Real Estate News

JUNE 7, 2024

According to a new CoreLogic report, the typical homeowner saw their home equity increase by $28,000 over the past year.

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Housing Wire

JUNE 1, 2024

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.

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Appraisal Buzz

JUNE 5, 2024

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

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Inman

JUNE 4, 2024

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.

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Real Estate Technology Brokerage Agents 197

Real Estate News

JUNE 6, 2024

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.

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Housing Wire

JUNE 3, 2024

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

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Appraisal Buzz

JUNE 7, 2024

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

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HOA Insurance Mortgage Appraisal 369

Inman

JUNE 7, 2024

The trips were to the Indonesian island of Bali and the secretive, all-male club known as Bohemian Grove in Northern California.

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Real Estate News

JUNE 3, 2024

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.

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Housing Wire

JUNE 7, 2024

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.

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Appraisal Buzz

JUNE 4, 2024

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

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Miller Samuel

JUNE 6, 2024

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.

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Real Estate News

JUNE 1, 2024

Indiana's top C21 franchise appoints new VP of marketing; The Agency expands globally with new offices in Quebec and Portugal.

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Housing Wire

JUNE 7, 2024

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.

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Mortgage Government Tools Realtors 505

Appraisal Buzz

JUNE 3, 2024

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.

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Mortgage Inventory Housing Market Marketing 370

Inman

JUNE 4, 2024

The franchisors are not required to implement the business practice changes they agreed to until after the appeals process.

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Real Estate News

JUNE 7, 2024

Industry leaders began sounding the alarm last week after seeing unlicensed data on a portal-like section of Microsoft’s search engine.

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Housing Wire

JUNE 7, 2024

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.

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Appraisal Buzz

JUNE 7, 2024

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.

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Mortgage Inventory Housing Market Appraisal 359

George Dell

JUNE 5, 2024

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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Real Estate News

JUNE 6, 2024

Several commissions-related milestones are coming up, starting with the NAR settlement opt-in deadline in less than two weeks.

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Housing Wire

JUNE 6, 2024

Mortgage lending in the U.S. dropped by 6.7% in the first quarter of 2024 to 1.28 million mortgages secured by residential property, the 11th drop recorded in the past 12 quarters and the lowest level since the year 2000, according to the newest U.S. Residential Property Mortgage Origination Report compiled by data provider Attom. This decline contributed to a 4.8% reduction in residential lending activity compared to first-quarter 2023 and a 69.3% reduction since reaching a high point in 2021,

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Appraisal Buzz

JUNE 7, 2024

Mortgage credit availability increased in May, according to the Mortgage Credit Availability Index (MCAI) , a report from the Mortgage Bankers Association (MBA) based on data from ICE Mortgage Technology. The MCAI increased by 0.1% to 94.1 in May. A decrease in the MCAI suggests tighter lending rules, whilst an increase in the index indicates looser credit.

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Inman

JUNE 7, 2024

Employers added 272,000 jobs in May, far exceeding the consensus view among economists that payrolls would rise by 180,000 and the average of 232,000 over the past year.

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