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The housing market is a mixed bag. It’s not always easy to understand what the market is doing right now. Today I have some thoughts about prices, Zestimates, and cash buyers. Scroll by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 3/24/23 How to Think Like an Appraiser (at SAR) 3/28/23 Downtown Regional MLS meeting 4/1/23 NAA […] The post The housing market is a mixed bag first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
If there’s one sector of the economy that benefits from the very low levels of total housing inventory , it’s the homebuilders , but for a reason you might not think. If national housing inventory were back to normal, we would have 2 to 2.5 million active listings, and these active listings would be direct competition for the builders. New homes are traditionally more expensive than existing homes, which don’t have all the bells and whistles.
Everyone knows value. Of course! It’s easy! Value is what I can sell something for. Well, sorta. No, wait – value is what I am willing to pay for something. Editor’s Note: This is Part 2 of Market Value or Other Value. I have an apple. You want one. I threaten to take a bite […] The post Devalue Market Value? Pt 2 appeared first on George Dell, SRA, MAI, ASA, CRE.
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 brief drop in mortgage rates and a pullback in home prices boosted existing home sales in February, according to the National Association of Realtors (NAR). The 30-year mortgage rates averaged less than 6.3% in February per Freddie Mac and the median sales price in February posted the first decline since February 2012. The monthly increase in sales ended a.
Existing home sales had a huge beat of estimates on Tuesday. This wasn’t shocking for people who follow how I track housing data. To understand why we had such a beat in sales, you only need to go back to Nov. 9, when mortgage rates started to fall from 7.37% to 5.99%. During November, December and January, purchase application data trended positive, meaning we had many weeks of better-looking data.
Existing home sales had a huge beat of estimates on Tuesday. This wasn’t shocking for people who follow how I track housing data. To understand why we had such a beat in sales, you only need to go back to Nov. 9, when mortgage rates started to fall from 7.37% to 5.99%. During November, December and January, purchase application data trended positive, meaning we had many weeks of better-looking data.
Never worry or wonder if you remembered to shut the garage door or lock the front door. With a system like Alarm.com, you can check in on a property remotely from anywhere in the world with an internet connection.
New NAHB 2023 Priced-Out Estimates show that 96.5 million households are not able to afford a median priced new home, and that additional 140,436 households would be priced out of the new home market if the price goes up by $1,000. This post presents details regarding how interest rates affect the number of households that could be priced out of.
ChatGPT , the AI chatbot, has taken the world by storm over the past few months. It took Netflix 3.5 years to reach one million users, Facebook ten months and Spotify five months. ChatGPT got to the first million users in five days. In two months after that, ChatGPT reached 100 million active monthly users. But first things first. What is artificial intelligence (AI)?
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.
Realtor membership went up a stunning 60% over the past decade, but declines are coming. It's time to talk about how to support the agents who stick around.
The team closed the priciest sale in Orange County last year with a $55 million property in Crystal Cove and was named the No. 1 large team nationwide in the 2023 Ellie Awards. Terms of the contract were not disclosed.
The Federal Reserve’s monetary policy committee raised the federal funds target rate by 25 basis points but indicated that it was moving to a more data dependent mode as markets digest incoming risks for banks. The Fed is balancing two economic risks: ongoing elevated inflation and emerging risks to the banking system. Chair Powell noted that near-term uncertainty is high.
When you google “ appraisal gap” — and I just did — a long list of search results appear. To my surprise, the top results did not link to economists expounding on the intricacies of home price fluctuations, the leading theories on avoiding overvaluation or pictures of stunt riders jumping over a canyon filled with printed PDF docs. (OK, throw that last one out.
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.
Wes Foster, known for his integrity and "larger than life presence," said he was most proud of growing Long & Foster from humble beginnings into a major player.
Getting featured in the press can be a game changer because, in addition to creating exposure, it also helps you become a recognized authority in your market. Marketing expert Jeremy Knauff provides a step-by-step strategy for connecting with members of the media.
Everything you need to know about starting your transition to mobile forms Making the transition from paper-based documentation to digital data capture can feel daunting. Businesses often delay their search for a digital solution to paperwork due to the sheer number of perceived time and financial investments, including: Fear of disrupting workflows Difficult onboarding (including the costs of adopting a new system) Intimidating costs of solutions The need for IT or coding experience Although th
2022 was a roller coaster year, continuing the strong pandemic and post-pandemic fueled housing market through the first half of the year. Then, in the third quarter, we saw an abrupt stop to the record-breaking housing market. Despite market headwinds, the top brokerages continued to show growth in the 2023 RealTrends 500 brokerage rankings. While the top four companies stayed at the top, eXp Realty displaced HomeServices of America , who had a stronghold on the No. 1 spot in transaction sides
An agent's job is rarely just 9-5, and it can be hard to carve out time for breaks when clients are counting on you. But it's possible — and important.
Introduce digital forms to your agriculture operational processes Digital forms are revolutionizing the way growers and ag professionals are doing business. These forms offer a practical and effective alternative to conventional paper-based forms. From collecting critical information in the field to monitoring administrative paperwork in the office, digital forms have made the agriculture industry more precise in their data capture and efficient in their operations.
The Federal Housing Finance Agency (FHFA) announced proposed implementation timelines for the use of the FICO 10T and the VantageScore 4.0 credit score models by Fannie Mae and Freddie Mac. In concert, the government sponsored enterprises also plans to transition to two, rather than three, credit reports from the national consumer reporting agencies within a year.
The search behemoth far and away led market share for search portals, drawing 44 percent of all real estate web traffic, but CoStar's Homes.com leaped by bounds last month, according to an analysis.
Higher mortgage rates and home prices, as well as increased construction costs contributed to lackluster new home sales in February, but signs point to improvement later in the year. Sales of newly built, single-family homes in February increased 1.1% to a 640,000 seasonally adjusted annual rate from a downwardly revised reading in January, according to newly released data by the.
The Federal Housing Finance Agency (FHFA) released on Thursday its Fourth Quarter 2022 Foreclosure Prevention and Refinance Report, stating that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 52,469 foreclosure prevention actions in Q4 2022. That figure increases the total number of GSE-assisted homeowners to 6,712,833 since the start of the conservatorship in September 2008, which placed control of Fannie and Freddie with the FHFA.
There are 12 brand archetypes based on common themes, personality traits and marketing niches. Not sure what your “type” could be? Take our quiz to find out.
At the crossroads of it all is a campaign to weaken or eliminate valuations… The nonprofit is now exploring ways it can set standards for automated valuations… Expect greater distortions from Freddie and Fannie’s plodding and committee-driven foray into automated valuations. Sometimes when the hair on the back of your neck stands up, there’s a reason for it.
The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday. The bank crisis has also reduced the spread between conforming and jumbo loan rates.
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