Sacramento Appraisal Blog
MAY 30, 2023
The iBuyer model got destroyed last year when the housing market shifted, but is Opendoor starting to turn things around? Today I want to look at some stats in the midst of a market full of drama. SERIOUS REAL ESTATE DRAMA It’s been drama this past week with debt ceiling conversations and rates above 7% […] The post Is Opendoor starting to turn things around?
Housing Wire
MAY 30, 2023
A duo of bipartisan U.S. House of Representatives lawmakers introduced a bill earlier this year that is designed to increase the supply of available homes on the market. And in order to bring more attention to the issue, the lawmakers recently made a public push about what the bill would do if passed. The “More Homes on the Market Act,” unveiled in March by Reps.
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Real Estate News
MAY 27, 2023
Don’t let this transformative moment intimidate you. Industry experts Stefan Swanepoel and Jack Miller of T3 Sixty say it’s an opportunity built on history.
Inman
JUNE 1, 2023
Doctorow oversaw the company as its revenues and site traffic rose to record highs, the company said. But as with the rest of the industry, Move has shown signs of a slowdown.
The Appraiser Coach
MAY 30, 2023
The key to success isn’t great ideas. Everyone has great ideas. I’ve had so many people come to me with an idea they had and say, “Dustin, isn’t this a great idea?” And, quite often, their idea really is good. But there’s something very important that separates good ideas from successful implementation. Nothing would happen if good ideas weren’t acted upon.
Housing Wire
JUNE 2, 2023
We’ve had some odd job reports over the years, but the key is to always follow the trend. That’s especially important with Friday’s data , which showed 339,000 jobs were created in May even while the unemployment rate increased. As someone who wrote that we should get job openings toward 10 million in this expansion, I am always mindful of my other labor talking point.
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Eyes on Housing
MAY 31, 2023
The count of open, unfilled jobs for the overall economy moved higher in April, rising to 10.1 million and complicating the June Federal Reserve decision. The higher job opening count for April increases the chance of another rate hike despite some speculation that May was the end of tightening. The count of open jobs was 11.8 million a year ago.
The Appraiser Coach
MAY 30, 2023
The key to success isn’t great ideas. Everyone has great ideas. I’ve had so many people come to me with an idea they had and say, “Dustin, isn’t this a.
Housing Wire
MAY 30, 2023
Low housing inventory and still-strong demand kept prices high in March, according to the latest according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. The annual growth rate in March 2023 was up 0.7%. On a month-over-month basis, the index was up 1.3% before seasonal adjustment. This was the second month-over-month increase following seven consecutive month-over-month decreases.
Real Estate News
JUNE 1, 2023
David Doctorow is stepping down as CEO of Move Inc, parent company of Realtor.com. News Corp exec Damian Eales starts on June 12.
Inman
JUNE 2, 2023
While AI has the potential to automate and certainly enhance many aspects of the real estate industry, writes California Realtor Ken Sisson, it is unlikely to replace human agents completely anytime soon.
Eyes on Housing
MAY 30, 2023
After seven consecutive months of decline, home prices climbed for a second straight month in March as low inventory levels persist. Locally, five metro areas, reported by S&P Dow Jones Indices, experienced negative home price appreciation in March. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth.
Housing Wire
JUNE 2, 2023
Real estate investment management firm Pretium Partners is acquiring thousands of homes from home construction company D.R. Horton Inc. in a $1.5 billion deal, as Bloomberg first reported. The deal includes a combination of completed homes and homes that are not yet finished, according to the outlet, which cited people familiar with the transaction who asked not to be named.
Real Estate News
JUNE 1, 2023
The 30-year fixed-rate mortgage surged by nearly a quarter point this week to reach the highest level since November.
Inman
JUNE 1, 2023
The new lawsuit claims that a host of big-name real estate companies, as well as various landlords, refused to accept Section 8 vouchers for lower-income renters.
George Dell
MAY 31, 2023
Evidence Based Valuation© – EBV exemplifies the best of what has been called “appraisal modernization.” Do current standards help our progress, or are they in the way of the best future? Part I is an overview. Part II is on education. Standards intertwine with education. Here in Part III we start our multi-part look at USPAP […] The post How Do I Move to EBV?
Housing Wire
JUNE 1, 2023
Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. The financial terms of the transaction have not been disclosed. With the acquisition, Planet will inherit the majority of Platinum’s origination staff and branches throughout the country. The deal also expands Planet’s footprint in the Midwest, Northwest and West Coast markets.
Real Estate News
MAY 29, 2023
Some clients just make agents' jobs harder — either intentionally or through lack of experience. But those challenges can also be opportunities for growth.
Inman
JUNE 2, 2023
Machine learning has been a component of Zumper's overall solution for some time, but its ChatGPT use will enhance consumer-facing interactions primarily in terms of search, according to the company.
Appraiserblogs
JUNE 1, 2023
While the borrower was charged $695 for the appraisal, the appraiser was only paid $301. The AMC fee was $394. We often hear complaints from GSEs and lenders that appraisal fees are too high, hence the push for modernization. Yet they fail to acknowledge that this is due to an overly bloated middleman – the appraisal management company (AMC). As a consumer, you should be aware of the potential for being fleeced on appraisal fees.
Housing Wire
JUNE 1, 2023
Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” The proposed rule would also implement quality control standards that govern the use of automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing real estate collateral securing mortgage loans.
Real Estate News
MAY 27, 2023
CEOs Andy Florance, David Doctorow, Gino Blefari and Nick Bailey shared exclusive, and sometimes controversial, insights with Real Estate News.
Inman
MAY 31, 2023
The company, which supports real estate professionals who want their own brand, plans to have its staff members work in the markets where its partners are based.
Eyes on Housing
JUNE 1, 2023
Despite some negative reporting about private builder access to acquisition, development and construction (AD&C) financing, the volume of total outstanding loans posted a gain during the first quarter of 2023, albeit at the slowest growth rate since the end of 2020. Nonetheless, interest rates for these loans have increased as the Fed has raised the federal funds rate.
Housing Wire
JUNE 1, 2023
Brena Nath, Director of HW+ and Events TO QUOTE BON JOVI, “Whoa, we’re halfway there!” The last six months in the housing market were tough. 2023 has been a year that started off with some renewed optimism thanks to an uptick in housing activity but quickly took a turn as events, like the collapse of Silicon Valley Bank, threw a wrench into a lot of forecasts for the year.
Real Estate News
JUNE 2, 2023
The PAVE task force, a joint venture of HUD and other agencies, presented an action plan to address appraisal bias and increase diversity in the industry.
Inman
MAY 30, 2023
It grew from a way to earn a little extra money renting out a room to a $67B behemoth. Now, heading into a busy travel season, Airbnb looks to return to its roots.
Eyes on Housing
JUNE 1, 2023
Private residential construction spending inched up 0.5% in April, as spending on multifamily homes increased 0.6%. Private residential construction spending increased for the first time since June 2022 amid elevated mortgage interest rates. However, it is still 9.2% lower compared to a year ago. The total construction monthly increase is largely attributed to more spending on multifamily construction, which rose.
Housing Wire
JUNE 1, 2023
More than 32 million single-family homes and 1 million multi-family properties across the country are now at risk of damages from hurricane-force winds, with a combined total reconstruction cost of $11.6 trillion. And, the risk related to these types of damages has only intensified in recent years due to the effects of climate change, particularly for properties with coastal exposure, according to the 2023 Hurricane Risk Report from CoreLogic , released on Thursday.
Real Estate News
JUNE 2, 2023
A survey of homebuyers reveals which parts of the financing process buyers understood the least, and how agents can add value through financial education.
Inman
MAY 29, 2023
When listing a luxury property, agents must bear in mind that buyers’ expectations are higher than ever. They want to see a home that aligns with the aspirational architectural content they watch and read. And color can effectively illustrate that designer lifestyle.
BiggerPockets
MAY 27, 2023
The Wall Street Journal is predicting a rough future for syndicate investors.
Housing Wire
MAY 30, 2023
Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. The decision is part of UBS’s strategy to focus more on financing mortgage originators , the outlet said, citing an anonymous source discussing non-public information who asked not to be identified.
Real Estate News
JUNE 2, 2023
The company wants consumers to think of the search portal as an all-in-one destination for not only homes, but also real estate pros.
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