Sacramento Appraisal Blog
JANUARY 16, 2023
How are appraisers handling concessions to the buyer? Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market. UPCOMING (PUBLIC) SPEAKING GIGS: 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on […].
Housing Wire
JANUARY 20, 2023
The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. It’s generating concern among mortgage and real estate trade groups, who fear the tweaks will hurt qualified borrowers amid an existing affordability crisis.
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Cleveland Appraisal Blog
JANUARY 19, 2023
Have you heard of a property being overimproved, or super adequate? How about underimproved? Unless you’re in the property valuation profession, you may not have. What do these things indicate? The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value.
The Appraiser Coach
JANUARY 17, 2023
Years ago, I went on a nation-wide tour where I met with appraisers in several cities. We discussed what I do as an appraiser and business owner, and how they. Read More.
George Dell
JANUARY 18, 2023
Neighborhood” seems like an obvious choice for analysis. But is it? (Part 5 of a series.) The knee-jerk reaction to this question is that obviously we need it. It is a starting core of analysis. It’s what we were taught. It’s required for our license test. Leaving out a neighborhood section (form or narrative) would […]. The post Do We Need a Neighborhood Section?
Housing Wire
JANUARY 20, 2023
On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. And existing home sales crashed in 2022 from a peak of around 6.5 million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S. housing market , we just experienced an event that most people never thought could happen.
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The Appraiser Coach
JANUARY 16, 2023
There are many different roles the we play as appraisers.
Eyes on Housing
JANUARY 20, 2023
As elevated mortgage rates and tight inventory continue to weaken housing demand, the volume of existing home sales declined for an eleventh consecutive month as of December, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have retreated in recent weeks due to recession concerns, they are likely to.
Housing Wire
JANUARY 16, 2023
Here’s the rundown for the last week: Purchase application data has stabilized — the bleeding stopped. Housing inventory increased by 1,339 homes nationwide. This is a small number but could be the start of an important trend. Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. 20. The weekly data shows some good news for the housing market !
Inman
JANUARY 19, 2023
Inman Access is dropping three new classes to help you navigate shifts in investor sentiment, expand your skills as a team leader and get the best tips on leveraging video as a marketing tool.
GoForrmz
JANUARY 19, 2023
Capture legally binding electronic signatures within your digital forms. In an all-digital world, meeting the data security and compliance requirements with your workplace documents is a minimum expectation of your clients. With GoFormz + eSign, you can now seamlessly digitize your paper documents while capturing legally binding electronic signatures - all within seconds.
Eyes on Housing
JANUARY 18, 2023
The producer price index (PPI) for inputs to residential construction less energy (i.e. building materials) rose 8.3% in 2022 (not seasonally adjusted) according to the latest PPI report—less than one-half the increase seen in 2021. On a monthly basis, building materials prices declined 0.3% in December—the fourth consecutive monthly decrease. After increasing an average of 1.8% per month the first five.
Housing Wire
JANUARY 19, 2023
The Census Bureau ‘s housing starts report for December shows that housing completions are still too slow, and we are running out of time this year as housing permits are set to fall until the homebuilders get rid of their excess supply. We had some good news this week for the housing market : purchase application data is up , the builder’s confidence index rose to beat estimates, and the 10-year yield and mortgage rates have fallen.
Inman
JANUARY 17, 2023
Lower's "mortgage as a service" platform lets brands offer digital-first mortgages through application programming interface and no-code solutions.
GoForrmz
JANUARY 17, 2023
Audit season is here, is your business ready? Audits are just another part of running a business - though they’re seldom the most pleasant. Whether it’s an audit from a government or industry authority, or just your own internal team conducting a process audit, they can be intimidating. But thankfully they don’t have to stall your business or take up excessive amounts of your time.
Eyes on Housing
JANUARY 18, 2023
A modest drop in interest rates helped to end a string of 12 straight monthly declines in builder confidence levels, although sentiment remains in bearish territory as builders continue to grapple with elevated construction costs, building material supply chain disruptions and challenging affordability conditions. Builder confidence in the market for newly built single-family homes in January rose four points to.
Housing Wire
JANUARY 19, 2023
After years of historic growth, the housing market is beginning to normalize. Home prices nationwide fell between August and September, marking the first time prices have declined for three consecutive months in nearly four years, according to the Case-Shiller National Home Price Index. As both the real estate industry and consumers prepare for what’s to come, it is critical that we do not take for granted the products and systems that have carried us through other cycles of economic downturn.
Inman
JANUARY 20, 2023
In advance of his appearance at Inman Connect New York on Jan. 24-26, the founder of PropTech Consulting busts myths about this burgeoning area of the real estate industry.
Appraiserblogs
JANUARY 18, 2023
Folks, I was in a USPAP class last Friday, during the day I was sent the tribute message below from another appraiser who knew Bill King very well, and who has been in touch with Bill’s wife. I’ve been looking for the obit. The one below was published on Sunday January 15, in the Anchorage Daily News: Orbituary William Edward King, 67, of Palmer, Alaska, passed away on Jan. 7, 2023.
Eyes on Housing
JANUARY 17, 2023
Over the first eleven months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 921,626. On a year-over-year (YoY) basis, this is 10.5% below the November 2021 level of 1,029,208. Year-to-date ending in November, single-family permits declined in all four regions. The South posted a decline of 8.4%, while the West region reported the steepest decline.
Housing Wire
JANUARY 18, 2023
Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. The brutal low origination volume and industry consolidation that occurred for lenders in 2022 isn’t expected to turn around, at least not drastically, in 2023, according to Fitch Ratings. “Our outlook for mortgage originators and servicers is deteriorating,” Shampa Bhattacharya, the director of the financial institutions group at Fitch Ra
Inman
JANUARY 20, 2023
In what could be described as the most significant proptech acquisition since Zillow purchased ShowingTime, the resulting company will boast 700 employees and a massive range of customers.
Riverfront Appraisals
JANUARY 18, 2023
This blog post is brought to you by the Guide To Appraisals series of e-books. The Realtor’s Guide to Appraisals, The Homeowner’s Guide to Appraisals, and the Loan Officer’s Guide to Appraisals provide you with all you need to know about the appraisal process, so that you can better serve your clients, and make the […] The post FAQ 3: What’s the Difference Between an Appraisal and a Home Inspection appeared first on Riverfront Appraisals.
Eyes on Housing
JANUARY 19, 2023
Led by a decline in multifamily production, overall housing starts decreased 1.4% to a seasonally adjusted annual rate of 1.38 million units in December, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Also of note, single-family housing starts ended the year down more than 10%, marking the first annual decline since.
Housing Wire
JANUARY 17, 2023
The mortgage servicing rights (MSR) market has opened 2023 with a healthy volume of capital committed to purchasing the assets along with multiple sellers primed for deals — as evidenced by the $60 billion to $65 billion in MSR portfolio offerings currently out for bid, market experts say. That good news, however, is being overshadowed for now by what sources in the MSR market describe as a rumored record-sized series of planned MSR offerings that are reportedly being prepared by banking giant W
Inman
JANUARY 17, 2023
In advance of his appearance at Inman Connect New York on Jan. 24-26, the franchisor's chief technology and digital officer told Inman what agents are asking for since the market changed.
McKissock
JANUARY 19, 2023
On January 18, 2023, HUD issued an announcement regarding revisions made to Handbook 4000.1. According to the announcement, the revisions included “enhancements and revisions to existing guidelines and various technical edits.” The most significant of these revisions was the elimination of the requirement to include the 1004MC form as an attachment to the appraisal report.
Eyes on Housing
JANUARY 19, 2023
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter of 2022 posted a reading of 66, falling 17 points from the fourth quarter of 2021. While there is a sharp decline in RMI year-over-year, it remains in positive territory as remodeling continues to outperform the rest of the residential construction sector, whether one looks at construction spending or.
Housing Wire
JANUARY 18, 2023
Like its competitors, Tennessee-based First Community Mortgage, Inc. (FCM) reduced the company’s size through 2022 amid a tough mortgage market. At the start of 2023, the company is investing in training the sales team on tactics to start growing the business again. Surprisingly, the landscape is helping. “There is certainly optimism in the air as mortgage applications have started to pick up on,” Keith Canter, CEO at First Community Mortgage, said. “The optimism is
Inman
JANUARY 17, 2023
Opendoor faces a fight for survival after "an abrupt strategy pivot" sent Opendoor into 2023 "without a proven business model." Here are the five biggest challenges facing the king of a troubled business model.
Hank Miller Team
JANUARY 16, 2023
As 2023 opens, the economic hangover due to the free spending and pandemic handouts continue. One of the craziest segments of the last two years was real estate. Prices and inventory of course, but the massive influx of "hobby agents" over this period was a lesser covered negative result. The number of real estate agents soared to record highs, as did buyer remorse and complaints.
GoForrmz
JANUARY 20, 2023
Keep finances at your fingertips with digital forms Digital forms have modernized the way accounting businesses work. They provide a convenient and efficient alternative to traditional paper-based forms. From collecting client information to tracking expenses, digital forms have made the accounting process faster, more accurate, and more secure. However, GoFormz customers know not all digital forms are created equal.
Housing Wire
JANUARY 18, 2023
Pennymac , the country’s largest correspondent lender with about 14% market share, has its eyes fixed on absorbing origination volume that Wells Fargo is leaving behind in the correspondent channel. . The California-based lender plans to increase its client base in the bank and credit union segment where Wells Fargo was most active, Abbie Tidmore, senior managing director and chief revenue officer, at Pennymac told HousingWire.
Inman
JANUARY 20, 2023
Blockchain Home Registry, built by the team behind Torri Homes, aims to offer consumers incentives for supplying real estate data.
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