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The market is hot again. Sort of. We’ve been seeing a spring seasonal market for a few months, but we seemed to hit an inflection point locally a few weeks ago, and it’s getting REALLY competitive out there. Let’s talk about it. This is a longer post, so scroll by topic or digest slowly. UPCOMING […] The post The housing market is hot again (sort of) first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Given Friday’s job report , those who have been concerned with entrenched 1970s inflation — which would lead to double-digit mortgage rates — can put their disco shoes back in the closet. I have tried to explain that the 1970s inflation isn’t a reality , and Friday’s report should ease the fear that wage growth is spiraling out of control.
Editor’s Note: This is Part 3 of Bruce Hahn’s series on Is the Definition of Market Value Outdated? In Part One and Part Two we asked why the current definition of market value has been around without change for so long? We focused on item 4 in the current definition of market value which says: […] The post Is the Definition of Market Value Outdated?
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.
Shrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store , the company announced on Friday. Michigan-based Homepoint is “winding down” its tenure as a direct participant in the mortgage origination business and becoming an investor in the market, as the company will hold an equity interest in The Loan Store.
Shrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store , the company announced on Friday. Michigan-based Homepoint is “winding down” its tenure as a direct participant in the mortgage origination business and becoming an investor in the market, as the company will hold an equity interest in The Loan Store.
The Office of the New York State Comptroller released its analysis of Wall Street Bonuses for 2022 last week. The real estate industry used to go gaga over this report before the housing bubble. But now, with so many bonuses received as deferred compensation or in a non-cash format, the Manhattan housing market no longer sees an immediate surge in demand when bonuses are announced.
As described in a previous post, NAHB’s recently released its 2023 Priced-Out Estimates, show that 96.5 million households are not able to afford a median priced new home, and that an additional 140,436 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how many households have.
Last week was relatively calm for the housing market after the fiasco of the banking crisis. Housing demand grew and inventory levels fell again while mortgage rates rose. Here’s a quick rundown of the last week: The 10-year yield battle continues as bond yields rose early in the week only to close below 3.50% on Friday. Mortgage rates rose to 6.57%.
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Enes Yilmazer is a content creator and real estate influencer who rose to fame through his real estate channel on YouTube. After posting his first real estate video in 2019, he quickly realized the platform's potential and prioritized it.
The count of open, unfilled jobs for the overall economy declined again in February, falling to 9.9 million, after an 11.2 million reading in December, which was the highest level since July, and 10.6 million in January. The count of total job openings should fall in 2023 as the labor market softens and the unemployment rises.
Mortgage rates fell again this week, but the primary cause was not the banking crisis fiasco. It was the expectation that the U.S. economy is slowing down. According to Freddie Mac ’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage declined to 6.28% as of April 4, down from 6.32% the previous week. The survey focuses on conventional and conforming loans for borrowers who put 20% down and have excellent credit.
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The start of spring usually marks more brokerage transactions and ramped-up construction schedules. But payroll growth was weaker in March, according to Bureau of Labor Statistics data.
According to the latest 2021 ACS, close to 11 million people, including self-employed workers, worked in construction in 2021. NAHB Economics estimates that out of this total, 4.5 million people worked in residential construction, accounting for 2.9% of the US employed civilian labor force. Home building in multiple states in the Mountain Division, as well as in Vermont, Florida, and.
Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. But that did not happen, as the affordability issues that remain on the horizon challenged mainly first-time homebuyers. Overall, mortgage applications declined 4.1% last week on a seasonally adjusted basis, down from one week earlier, according to the Mortgage Bankers Association (MBA).
From 2019 to 2023, the number of agents who left a brokerage due to a weak culture doubled to 30 percent, according to a recent Coldwell Banker survey.
Warehouse space in Columbus, Ohio and throughout the United States is disappearing as it’s becoming scarcer and pricier. However, thanks to the continuing popularity of e-commerce and online sales, the demand for warehouse space for rent is rising. This is particularly the case in the major population centers. The pandemic created a spike in e-commerce sales and the need for data centers, transforming the industrial real estate market both nationally and locally, in Columbus, Ohio.
Artificial intelligence (AI) and machine learning (ML) present incredible opportunities to expand homeownership and housing in the U.S. But for potential homebuyers to benefit from new technology, the industry must figure out a way to keep bias out of decision-making models, experts said Monday. “The biggest opportunity in my mind in the near to medium term remains [finding] ways to take unstructured data and leveraging that and turning it into machine readable machine information,” said Steve H
As a luxury agent, how can you deliver the personalized service that ensures your clients will never want to work with anyone else? Here are my thoughts.
In response to the Federal Housing Finance Agency’s (FHFA) decision to allow Fannie Mae to expand its appraisal waiver program, the American Society of Appraisers (ASA) has released an op-ed by ASA’s Strategic Partnership Officer, John D. Russell, JD, criticizing this move. ASA believes that by expanding the appraisal waiver program and relying on data and models for mortgage lending instead of human interaction, Fannie Mae is leaving behind two very important aspects: safety and soundness as we
Signs of a slowdown in the labor market have emerged, sparking hope that the Federal Reserve may stop its ongoing tightening monetary policy, which has spurred increasing mortgage rates. But industry observers say it’s prudent to wait for inflation figures in order to bet that the Fed’s rate hikes are over. The slowdown in the labor market has been very gradual, according to them.
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The 91-year-old hot dog stand — once thought to be doomed — will instead move across the street after its building was purchased by a developer Extell Development and founder Gary Barnett.
Elon Musk recently took to Twitter in response to the Kobeissi Letter , a reputable authority on market commentary. The original post made note of the fact that in the next five years, more than $2.5 trillion in commercial real estate debt will mature, “… by far more than any 5-year period in history.” Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks.
New listings plunged 21.8 percent from a year ago, marking one of the most significant annual drops since the beginning of the pandemic, according to a new analysis of housing inventory by Redfin.
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