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After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey. While economic spending has improved, due to the most recent stimulus, supply chain shortages are causing downstream inflation, leading to higher mortgage rates, said Sam Khater, Freddie Mac’s chief economist. “While there are multiple temporary factors drivin
As January rolls around each year, homeowners begin receiving their property tax bills. That’s why my tax appeal work often picks this time of the year. It should be no surprise that assessed home and land values are increasing. Property values have been increasing in many areas for years, with 2020 being a record year for home appreciation in many neighborhoods.
A version of this post originally appeared in the December edition of Scotsman Guide. . Loan officers and listing agents are familiar with homeowner anxiety about real estate appraisals. Questions arise, such as: Does the appraiser penalize me if my house isn’t spotless? Will worn carpeting hurt my value? Will the appraiser look in my closets? Should I follow the appraiser and point things out?
Why might you be engaged to appraise a single or multi-tenant industrial or flex style office building? What information do you need when appraising industrial and flex buildings ? Below, we explain the primary reasons for these types of appraisal assignments and provide punch lists of the items that you should acquire for appraisal purposes. Reasons for engagement.
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.
The years 2020-2024 will have the best housing demographics ever recorded in U.S. history, with the lowest mortgage rates recorded in history. When you have these two titans acting in unison, it can potentially accelerate real home prices in an unhealthy way. In 2020, the year of COVID-19, existing home sales ended at a respectable 5,640,000. That is roughly only 130,000 higher than the levels we saw in 2017.
Our offices are currently closed as we are experiencing a Texas weather emergency. The power grid in Texas was not prepared for the cold weather we have been experiencing. Our office has been without power since yesterday, (Monday) 6:30 am. Temperatures dropped to – 6 degrees last night. There are outages as well as rolling outages. Road conditions are treacherous and we have more snow forecasted for tonight and tomorrow.
Our offices are currently closed as we are experiencing a Texas weather emergency. The power grid in Texas was not prepared for the cold weather we have been experiencing. Our office has been without power since yesterday, (Monday) 6:30 am. Temperatures dropped to – 6 degrees last night. There are outages as well as rolling outages. Road conditions are treacherous and we have more snow forecasted for tonight and tomorrow.
A version of this post originally appeared in the December edition of Scotsman Guide. . Loan officers and listing agents are familiar with homeowner anxiety about real estate appraisals. Questions arise, such as: Does the appraiser penalize me if my house isn’t spotless? Will worn carpeting hurt my value? Will the appraiser look in my closets? Should I follow the appraiser and point things out?
Every homebuyer is different, just as every home buying experience is different. Each of your clients will have their own set of likes and dislikes. As a real estate professional, you should know how to tailor your approaches and strategies to suit your client’s wishes. Categorizing your client based on their motivations for buying is one of the best ways to help them find their dream home.
The first-time homebuyer process is a lengthy one, and if you’re not careful, there’s a lot that can throw you off-track. From low appraisals to surprise credit checks, a number of hurdles could slow your purchase or even derail it altogether. Are you on the hunt for a new home? Want to make sure your purchase goes off without a hitch? Then take steps to avoid these all-too-common first-time homebuyer mistakes: More for Real Estate Enthusiasts.
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.
Haverhill, Massachusetts single-family home prices rose double digits in 2020 and have skyrocketed over the past decade, according to data compiled by the Massachusetts Association of Realtors.
At its public meeting on February 19, 2021, the Appraisal Standards Board of The Appraisal Foundation voted to extend the expiration date of the 2020-2021 USPAP publication by one year. Instead of expiring on December 31, 2021, the current USPAP will remain in effect until December 31, 2022. The Foundation is exploring several options for future editions of USPAP, including going to a longer USPAP cycle, or issuing a new USPAP publication that has no expiration date and making revisions to the d
Writing about digital mortgage in 2021, I am reminded of a cartoon in the New Yorker, in which two cavemen were starting a fire and one said “Stop saying everything is ‘unprecedented.’” After a year of unprecedented everything, including mortgage volume, it’s hard to fathom the level of fintech disruption that is approaching financial services and specifically mortgage.
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.
Mortgage interest rates in the U.S. remained unchanged for the second consecutive week, for the week ending February 11, 2021, according to Freddie Mac's weekly Primary Mortgage Market Survey.
The appraisal profession is aging. According to the 2020-2021 Appraisal Income Guide , more than 15% of certified general appraisers indicate they will retire in the next 6-10 years. This presents an opportunity for those who are considering upgrading their license level to certified general, as the demand for certified general appraisers is almost certain to increase in the coming years.
The stock market is a funny game. Not the kind of game that the rookie Game Stop investors are used to playing, but a real-life, action-packed, form of entertainment that toys with millions of Americans’ emotions and finances every day. You know what isn’t a game, and can also provide oh-so-sweet returns? Investing in real estate. The stock market is at an all-time high, finishing 2020 at record levels.
It seems like young real estate investors get more and more impressive every week. Today we talk with Cole Ruud-Johnson, a wholesaler and flipper out of the Seattle area. The […].
Mortgage interest rates in the U.S. rose to the highest level since November 2020, for the week ending February 18, 2021, according to Freddie Mac's weekly Primary Mortgage Market Survey.
When it comes to lead generation, there are many tried and true strategies that real estate agents can implement such as cold-calling , door-knocking, and open houses. However, sometimes a lead just falls into your lap, sometimes in the most unexpected places. Last month (January), we asked our CE Plus members , “Where’s the strangest place or way you’ve acquired a lead that’s resulted in a sale?
The National Association of Realtors reported that existing home sales for January were at 6,669,000, which beat estimates. The year-over-year growth was an impressive 23.7%. The median sales price also jumped 14.1% year over year, which I warned could happen during the years 2020-2024. On a recent HousingWire podcast , I discussed the need for higher mortgage rates to cool down this growth rate.
Home appraisals are the perfect way to get an accurate measure of your house’s value. Now if you want to gain approval for a mortgage, you are going to need a good home appraisal. From the seller right down to the buyer, an experienced real estate appraiser is an essential part of the overall home purchasing process. While a precise appraisal ensures lenders do not borrow more than what is necessary, it also safeguards novice homebuyers from overpaying when purchasing their dream house.
It looks like RentPath will be sold after all. After a deal to be acquired by CoStar Group fell through due to antitrust objections from the federal government, real estate brokerage and listings portal Redfin has scooped up the Atlanta-based rental platform. Seattle-based Redfin has agreed to pay $608 million in cash to acquire RentPath , though the deal still requires sign-off by the Federal Trade Commission and a bankruptcy court.
An optimized rental price is a critical factor in property management. How do you effectively manage your property or your property management team to achieve the best outcome? Here are five easy, efficient ways.
Winter In Houston: How To Deal With Home Damage From Snow & Cold Weather. Here's what you need to do to minimize damage and repair costs. Houston saw blankets of snow, sleet, record-low temperatures, and energy blackouts thanks to a historic winter storm making its way across the region. The Bayou City has not seen weather this frigid for more than three decades.
Home appraisals are the perfect way to get an accurate measure of your house’s value. Now if you want to gain approval for a mortgage, you are going to need a good home appraisal. From the seller right down to the buyer, an experienced real estate appraiser is an essential part of the overall home purchasing process. While a precise appraisal ensures lenders do not borrow more than what is necessary, it also safeguards novice homebuyers from overpaying when purchasing their dream house.
When Realtor.com became the first listing platform to display flood hazard data on properties, the lead economist for Redfin expressed caution about the unintended consequences of displaying such statistics. “We need to be very careful about how we provide information,” Taylor Marr, the lead economist at Redfin, told NPR at the time. “Could this actually reduce the value of this existing homeowner and essentially take away a lot of their net worth?”.
Is buying land a good investment? Purchasing vacant land may not be right for every investor or every situation. How can you know this is the right move for you? We outline the pros and cons—and tell you what key questions to ask.
Podcasts are the latest infotainment craze to take the American public by storm. With more than 850,000 active podcasts and nearly 31 million downloads in 2020 alone, podcasting has cemented itself as a true American pastime. As the popularity of this medium continues to grow, more and more housing industry professionals are becoming hosts and launching their own podcasts on topics ranging from real estate, fintech, and mortgage news.
Depository bank Western Alliance has reached a deal to acquire correspondent lender AmeriHome for $1 billion in cash, the firms announced late Tuesday afternoon. With the acquisition, Western Alliance will grab full control of America’s third-largest correspondent lender from an affiliate of financial giant Apollo Global. AmeriHome purchased approximately $65 billion in conventional conforming and government-insured originations in 2020.
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