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The housing market is getting hot again for the spring. It went from an ice bath in the fall to a hot shower so far in January. It’s not scalding like 2021, but it’s been a striking change. Let’s talk about this. UPCOMING (PUBLIC) SPEAKING GIGS: 2/8/23 SAFE Credit Union “Snacks & Facts” (for RE) […] The post The housing market went from an ice bath to a hot shower first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
We are off and going now, as seasonality has kicked into full gear with the purchase application data. And, so far, it’s been a good start to the year. Here’s the housing market rundown for the last week: Purchase application data showed positive weekly growth again — and the bounce from the bottom is more noticeable now. Housing inventory decreased by 6,468 units, a more pronounced decline from the previous week.
Market, the word, is used over 2500 times in The Appraisal of Real Estate. And over 650 times in the current (2021-2024) version of USPAP. “Market” must matter! But what is it? “Market” has two main meanings which correspond to the definitions in The Dictionary of Real Estate Appraisal. One is a system to bring […] The post Market Target? appeared first on George Dell, SRA, MAI, ASA, CRE.
Do you have a virtual assistant hired? Many appraisers have found this to be a great way to get needed tasks accomplished without having to do them yourself. You may have hired someone locally. And if that’s the case, you probably have provided the necessary resources and hardware for your employee to be successful, as any good employer would. Making sure they have double monitors, an updated laptop or desktop, strong hardware, and necessary supplies will help them accomplish those tasks you giv
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.
Job growth rebounded in January. After declines for five consecutive months, total nonfarm payroll employment increased by 517,000 in the first month of 2023 and the unemployment rate hit a 53-year low at 3.4% as more people entered the labor market. Construction industry employment (both residential and non-residential) totaled 7.9 million and exceeds its February 2020 level.
Building the future of mortgage servicing technology is about granular, nuanced innovation — knowing what changes must happen and when, and executing with no mistakes across scale operations where every tiny detail is highly regulated. And doing all of this within aging infrastructure — it’s about building pathways within the aging infrastructure and incrementally replacing it with the new.
Building the future of mortgage servicing technology is about granular, nuanced innovation — knowing what changes must happen and when, and executing with no mistakes across scale operations where every tiny detail is highly regulated. And doing all of this within aging infrastructure — it’s about building pathways within the aging infrastructure and incrementally replacing it with the new.
Whether you’re looking to start strong or take your existing business to the next level, a mentor can be key. Learn how to find the expertise and experience you need in a real estate mentor.
The Maryland appraiser has filed a countersuit against the homeowners, claiming defamation. Appraisers, there have been several lawsuits filed against appraisers by borrowers who “don’t like your value, so I’m accusing you of discrimination” over the last year or so. These lawsuits all have the same theme, and it’s entirely possible that these actions are being coordinated by a consortium of ‘organizers’ and law firms.
Dwindling housing affordability in the fourth quarter of 2022 caused the share of prospective home buyers who are actively engaged in the purchase process (i.e. who have moved beyond just the planning phase) to drop to 46%, down from 59% a quarter earlier. The share of prospective buyers fully engaged in the buying process declined in every region between the.
A group of 11 former employees are accusing AmeriSave Mortgage Corp. in a new lawsuit of failing to pay the wages, bonuses and commissions that were agreed to when they were hired by the company. The group also alleges that the company conducted a defamatory campaign against them after their layoffs in July 2022. According to the class-action-seeking lawsuit, filed in California, AmeriSave hired 200 loan officers to focus on the West Coast region in early 2022.
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.
Cold calling can be an intimidating prospect for many real estate agents, but it doesn’t have to be, writes renowned trainer Darryl Davis. Real estate agents can turn cold calls into warm leads with practice and preparation, and as it becomes second nature, they will ultimately drive more sales for their business.
Do you have a virtual assistant hired? Many appraisers have found this to be a great way to get needed tasks accomplished without having to do them yourself. You may.
An earlier post revealed that 65% of buyers who were actively engaged in the process of finding a home in the fourth quarter of 2022 have spent 3+ months searching for a home without success. The inability to find an affordable home (45%) is the most common reason buyers looking for 3+ months can’t make a purchase. In second place.
First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. First Internet Bancorp , parent company of First Internet Bank, announced that the exit will include its nationwide digital direct-to-consumer mortgage platform, which originates residential loans for sale in the secondary market.
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.
Hosting a budget-friendly real estate seminar doesn't have to be overwhelming or expensive — all it takes is a bit of creativity and planning ahead of time so you can make sure everything runs smoothly on the day of the event itself.
The following court documents in the case Naftali Horowitz v. Nicole Andrews, Fastapp AMC founder v. Fastapp AMC president, confirm what appraisers have been saying all along, that if you want high-volume AMC work, you have to lower your fees to 1980’s level, have 24 hour turn times, and, above all, be a number hitter. Horowitz, Fastapp founder, filed a lawsuit in New York court on January 31, 2022 against defendant Andrews to, among other things, remove Andrews as an officer and director of the
Further downshifting its pace of tightening of monetary policy, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 25 basis points, increasing that target to an upper bound of 4.75%. This marked a smaller increase after four previous 75 basis point hikes and a decelerated 50 basis point increase last December. While not the end of.
Yearly home price growth continued to cool in November as mortgage rates reached some of their highest levels in decades, which resulted in annual home price gains shrinking for the eight consecutive month, according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. Nationwide, home prices posted an annual gain of 7.7% in November, bringing the index to a reading of 297.29.
The Case-Schiller index posted a 7.7 percent annual gain in home prices — down from a 9.2 percent gain in October — while the FHFA index showed a 0.1 percent decline in prices between October and November.
Winter is here! Last week we had one evening of beautiful snow that quickly melted away. As I type, we are receiving winter weather watch notifications as we are getting ready for a more dangerous icing event here in North Texas this week. As we prepare for the coming cold, I am reminded that, although dramatic, most of the weather events here never last long.
Buyers’ outlook for housing affordability took a sharp negative turn in the final quarter of 2022, when a record high of 87% reported being able to afford fewer than 50% of the homes for-sale in their markets. The remaining 13% can afford the majority of homes available, less than half the 31% who could in the third quarter. Affordability expectations.
High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. Interest rates, though down slightly in recent weeks, are still double what they were at the end of 2021, and the Federal Reserve continues its monetary tightening policies to fight inflation.
Appraisal waivers have been around for quite some time now, but have really gained serious traction just in the past few years. I realize that some may not be familiar with the term, or its dangers, so in this short post, I’ll cover both. An appraisal waiver is simply an agreement between a lender […] The post FAQ #5: What is an Appraisal Waiver?
Private residential construction spending declined 0.3% in December 2022, as spending on single-family construction dropped 2.3% amid higher mortgage rates. Private residential construction spending fell for the seventh consecutive month, standing at an annual pace of $857 billion. However, this total remains 1.7% higher compared to a year ago. The monthly decline is largely attributed to lower spending on single-family.
Let’s first state the facts regarding our country’s wonderful week in labor data. Job openings are over 11,000,000. Jobless claims are under 200,000. The unemployment rate in America is 3.4%. When we look at the history of U.S. economics, this week is one for the record books. As someone who professed early in the Covid-19 recovery that we would see 10,000,000 job openings — and the labor dynamics are much different now than what we saw in 2008 — it’s Van Gogh art week when I see all the d
The motivation for Shemesh's termination was not immediately known and came just over one year after Shemesh and his four-person team moved to SERHANT. from Douglas Elliman.
The cooling housing market is forecast to continue in 2023, and buyers and sellers are proceeding with caution. With increased interest rates and declining home sales, there’s plenty to be nervous about—and there’s still the home appraisal, which can derail any mortgage deal if it comes in “low.” The good news is that a reconsideration… The post What Is a Reconsideration of Value for an Appraisal Report?
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.9% in the last quarter of 2022, which is statistically unchanged from the fourth quarter reading (66%). It is 0.4 percentage points higher than the rate in the fourth quarter of 2021. The national rental vacancy rate dipped slightly to 5.8%, and the homeowner vacancy rate inched.
The Federal Reserve Chairman Jerome Powell maintained a hawkish tone during his speech at a press conference on Wednesday afternoon — but it wasn’t hawkish enough to keep optimism from spreading across the markets as mortgage rates dropped closer to 6%. “Inflation remains well above our longer-run goal of 2% over the 12 months ending in December: total PCE prices rose 5%; excluding the volatile food and energy categories, prices rose 4.4%,” Powell told journalists. “While recen
The independent brokerage has hired Diyanna Ahuja to lead its team of more than 500 agents, who brings 2 decades of experience in luxury retail operations and real estate to the role.
As part of our contributor series, experienced appraiser Conrad Meertins Jr. shares his advice on how to level up as an appraiser. There is a popular saying, “Skills pay the bills.” There is much merit to that in our industry, and it will be even more true as we move into this year with so much uncertainty looming over our heads. Your skills are what make you invaluable.
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