Housing Wire
AUGUST 11, 2023
The Mortgage Bankers Association (MBA) reported that the mortgage delinquency rate fell to its lowest level since it began tracking this metric 43 years ago, supporting claims the economy is on the cusp of a turnaround. “Buoyed by a resilient job market, homeowners are continuing to make their mortgage payments,” Marina Walsh, the MBA’s vice president of industry analysis, said in a statement.
Sacramento Appraisal Blog
AUGUST 9, 2023
New construction has been on fire, but the resale market has been cold. It’s been stunning to see the difference in volume between both markets. Let’s talk about the trend and look deeply into what’s going on with concessions. Scroll quickly by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 8/18/23 Market & Mimosas (register […] The post A hot & cold housing market first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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Real Estate News
AUGUST 11, 2023
MLS system provider Rapattoni has been down since midweek, leaving tens of thousands of agents unable to add listings and update information.
George Dell
AUGUST 9, 2023
How do you measure “close enough” to a market value? We have standards you know! Editor’s Note: This is Standards, part 3.10 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Valuation is numbers. Some numbers are numbers, like building SqFt. Other numbers are exact like […] The post How Close is Close Enough?
Housing Wire
AUGUST 11, 2023
Nearly one in ten homes in the U.S. are worth at least $1 million dollars, close to all-time-high levels of June 2022, according to a new report from Redfin. Just over 8% of homes are worth $1 million or more, not far off the high of 8.6% in June. This up s wing in home prices comes on the heels of a major dip in February, when only 7.3% hit the $1 million price threshold.
The Appraiser Coach
AUGUST 8, 2023
I had a man reach out to me with a question about a property he had been asked to appraise. It was being.
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Inman
AUGUST 11, 2023
Federal investigators are working with MLS software company, and its insurance carriers are negotiating with hackers, who have prevented new data from being input after the Aug. 9 attack.
Housing Wire
AUGUST 11, 2023
After years of discussion , the U.S. Treasury Department is expected to propose a rule that would effectively end anonymous luxury home purchases in the coming weeks, according to the Financial Crimes Enforcement Network’s ( FinCEN ) regulatory agenda. The rule, which department officials first said they planned to implement in 2021, would require real estate professionals, such as title insurers, to report the identities of beneficial owners buying real estate in cash to FinCEN.
Eyes on Housing
AUGUST 11, 2023
According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) edged up 0.2% in July (not seasonally adjusted). Building materials price growth has slowed considerably in 2023 with an average monthly increase of 0.2%–down from 0.7% in 2022 and 1.5% in 2021. Not since prior to the COVID-19 pandemic has.
Real Estate News
AUGUST 11, 2023
E&V opens new shops in SW Florida, Atlanta; Caribbean firm joins Christie's; eXp gains 82-agent team; Premier Sotheby's hires managing broker; more.
Inman
AUGUST 11, 2023
Don’t believe the lies. You are in the right place, at the right time, and in the exact business that can help you build the life you always dreamed of having, Jimmy Burgess writes.
Housing Wire
AUGUST 11, 2023
In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, Freddie Mac has released its 2023 Stress Test Disclosure, which reflects two hypothetical economic scenarios, including a “severely adverse” scenario. Under the latter, Freddie Mac would face a credit loss of $13.7 billion — or 0.4% of its total portfolio — under the adverse scenario.
Eyes on Housing
AUGUST 10, 2023
Consumer prices showed a slight uptick in July, with core inflation remained sticky, ending a streak of 12 consecutive months of steady declines. Despite a slowdown compared to the previous month, the shelter index (housing inflation) continued to be the largest contributor to both headline and core inflation, accounting for over 90% of the increase in headline inflation.
Real Estate News
AUGUST 11, 2023
The company reported significant year-over-year declines, with revenue taking a nearly 25% hit — but numbers were much improved over Q1.
Inman
AUGUST 11, 2023
The U.S. Treasury Department is poised to enact expanded reporting measures on luxury home sales, putting an end to anonymous purchases that have enabled oligarchs, terrorists and others.
Housing Wire
AUGUST 11, 2023
AG Mortgage Investment Trust, Inc. entered into a definitive agreement Tuesday to merge with Western Asset Mortgage Capital Corp., beating its competitor Terra Property Trust, Inc. AG Mortgage, a pure-play residential mortgage REIT controlled by Angelo, Gordon & Co. and owner of mortgage lender ARC Home , made a stock-and-cash offer for its peer Western Asset, managed by Franklin Resources, Inc.
Eyes on Housing
AUGUST 9, 2023
Per the Mortgage Bankers Association’s (MBA) survey through the week ending August 4th, total mortgage activity decreased 3.1% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose 16 basis points to 7.09%. The FRM rate has fluctuated between 6.9% and 7.1% over the past month.
Real Estate News
AUGUST 10, 2023
Average rates reached 6.96% again after rising three weeks in a row, and after falling last month, inflation crept back up.
Inman
AUGUST 11, 2023
The Amazon founder and third-richest person in the world reportedly purchased a three-bedroom property on Indian Creek, a barrier island off Miami.
Housing Wire
AUGUST 10, 2023
The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. Since the last FOMC meeting in July, all eyes have been fixed on Thursday’s Consumer Price Index release. Another rate hike in September would move the target federal funds rate to its highest level since March 2001.
Eyes on Housing
AUGUST 7, 2023
The average length of time to complete construction of a multifamily building, after obtaining authorization, was 19.8 months, according to the 2022 Survey of Construction (SOC) from the Census Bureau. The permit-to-completion time in 2022 was 2.3 months longer than in 2021, as supply-chain issues and the ongoing skilled labor shortage challenged the industry.
Real Estate News
AUGUST 9, 2023
A new analysis of federal data found that the racial home appraisal gap has narrowed since the formation of the PAVE task force.
Inman
AUGUST 11, 2023
The total worth of homes in the United States hit a record high of $46.8 trillion in June, overtaking the prior all-time high of $46.6 trillion set a year earlier, according to the analysis by Redfin Friday.
Housing Wire
AUGUST 10, 2023
Wells Fargo rolled out a down payment grant program that will offer $10,000 to eligible buyers or homeowners who currently live in or are purchasing homes in underserved communities in eight metropolitan areas. The Homebuyer Access grant program is available to those who have a combined 120% or less of the area median income (AMI). The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primar
Appraiserblogs
AUGUST 9, 2023
It is a fact that 85% of appraisers are white with the majority of them being middle-age white men, although that is rapidly changing. The bias argument presupposes they are inherently more biased than women, Hispanic, African American, Asian, Pacific-islander, etc. We simply don’t have enough data to verify whether this is true or not. Therefore, as the argument goes, white appraisers must be biased.
Real Estate News
AUGUST 9, 2023
Despite a net loss of just over $4M, the company increased revenue by 65% and reported EBITDA profits for the first time, while also doubling agent count.
Inman
AUGUST 11, 2023
The Valuation Product Suite is geared at modernizing the appraisal process and assisting in compliance with new Fannie Mae and Freddie Mac programs that make it easier to get loans approved without an appraisal.
Housing Wire
AUGUST 10, 2023
loanDepot has agreed to settle a securities class action lawsuit filed by shareholders that alleged the company, its executives and investment banks made false or misleading disclosures before and after the lender’s initial public offering in 2021. According to court filings, the parties agreed to settle and release all claims against the defendants in exchange for a cash payment of $3.5 million.
JMV Lending
AUGUST 7, 2023
Today’s blog was written by JVM’s Appraisal Manager, Taylor Allen. She orders our appraisals, manages our appraisal team, carefully curates and manages our huge stable of appraisers, reviews appraisals, rebuts appraisals, provides comparable sales data, and understands loan guidelines. How any firm operates successfully without someone like Taylor is completely beyond me.
Real Estate News
AUGUST 8, 2023
At a conference this week, Nick Bailey said the company’s value lies in its strong brand identity and agent experience — not downlines or profit sharing.
Inman
AUGUST 10, 2023
Brokerages need agents and their personal brands, more than agents need the backing of brokerage brands Baker argued at Inman Connect on Thursday. "My name is Glennda Baker, and I am a brand.
Housing Wire
AUGUST 10, 2023
Low-cost residential real estate brokerage is not necessarily a new phenomenon. About 50 years ago, a trailblazer named Dave Liniger created the concept of “real estate maximums,” birthing RE/MAX. RE/MAX was probably the most radical low-cost ‘disruptor’ this market has ever seen. About 10 years later Gary Keller founded Keller Williams, and it was KW that revolutionized the cap-commission model, which, for all intents and purposes, is a low-cost model.
Birmingham Appraisal
AUGUST 8, 2023
What are the Benefits of Getting a Pre-Listing Appraisal? If you’re thinking about selling your house, you might be wondering how to get the best possible price for your property. Well, here’s a secret tip that can give you a competitive edge in the real estate market: Consider getting a pre-listing appraisal before putting your home up for sale.
Real Estate News
AUGUST 7, 2023
A new Black Knight report reveals major gains in the Midwest and Northeast, signals an end to the U.S. housing correction.
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