Housing Wire
AUGUST 16, 2022
Tuesday’s housing starts report clearly shows that homebuilders are going to be done with single-family construction until mortgage rates fall. Housing completion data is still struggling to get some traction, but in the coming months, builders should be able to get more housing completions done while housing permits and starts for single-family homes are in decline.
Sacramento Appraisal Blog
AUGUST 15, 2022
Let’s talk about two things today. The myth of six months of inventory being normal and dipping prices. I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 8/25/22 State of Housing Brunch & Learn (sign up (for real estate community)) 9/08/22 SAFE Credit Union Market Update (details TBD) 9/15/22 Market update […].
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Eyes on Housing
AUGUST 15, 2022
Builder confidence fell for the eighth straight month in August as elevated interest rates, ongoing supply chain problems and high home prices continue to exacerbate housing affordability challenges. In another sign that a declining housing market has failed to bottom out, builder confidence in the market for newly built single-family homes fell six points in August to 49, marking the.
Housing Wire
AUGUST 15, 2022
A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). HELOCs allow homeowners to tap the equity in their home without incurring a much higher first-lien mortgage via a cash-out refinancing.
George Dell
AUGUST 17, 2022
Why not data science? Before we talk about anything, we need to know what ‘it’ is. What is data science? First, what is science? Science is “a systematic study, by observation or experiment; by an expert in scientific method and the field of study.” And what is data? Data is anything which can be measured, […]. The post Why Data Science? appeared first on George Dell, SRA, MAI, ASA, CRE.
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Eyes on Housing
AUGUST 19, 2022
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. During the housing boom of recent quarters, this led to a rise for new single-family home size. However, as the housing market weakens this trend appears to be reversing. According to second quarter 2022 data from the.
Housing Wire
AUGUST 17, 2022
Struggling digital mortgage lender Better.com is teaming up with secretive big data firm Palantir to create a proprietary loan platform that is says will enable Fannie Mae , Freddie Mac and mortgage investors to make “richer and deeper data-driven mortgage capital allocation decisions.”. Tinman Marketplace, as it has been dubbed, will be powered by Palantir’s Foundry operating system, which Better says will automate 70% of the mortgage process.
The Appraiser Coach
AUGUST 16, 2022
I’m not the biggest dessert person in the world, but I have a weakness for Arnold Palmers. For those of you unfamiliar with what an Arnold Palmer is, it’s a. Read More.
Appraisal Buzz
AUGUST 19, 2022
Attorney Roy Diaz discusses a recent Florida Court decision where an affidavit was insufficient in creating a genuine issue, and entered a foreclosure judgment in favor of Bank of New York Mellon against two borrowers. The post Florida Court Affirms Summary Judgment in Foreclosure Case appeared first on DSNews. The post Florida Court Affirms Summary Judgment in Foreclosure Case appeared first on Appraisal Buzz.
Eyes on Housing
AUGUST 15, 2022
The prices of building materials rose 0.4% in July (not seasonally adjusted) even as softwood lumber prices increased 2.3%, according to the latest Producer Price Index (PPI) report. Prices have surged 35.7% since January 2020, although 80% of the increase has occurred since January 2021. The PPI for goods inputs to residential construction, including energy, decreased 1.2% as the prices of.
Housing Wire
AUGUST 18, 2022
Ginnie Mae is not budging on its proposal to put a 250% risk weight on gross mortgage servicing rights. The requirement would be for nonbanks, who make up the bulk of the Federal Housing Administration market. Ginnie Mae specifically called out those institutions that are not “regulated by a federal prudential regulator” or state-chartered in guidance it published today, a day after it made a joint announcement with the Federal Housing Finance Agency.
Raleigh Realty
AUGUST 13, 2022
What is the Triangle in North Carolina? One of the most common questions we receive is 'what is the Triangle in NC?' Below we answer that and a few more common questions: Click here to search for Triangle Real Estate. The Research Triangle area in North Carolina is named after the three prestigious universities of Duke, UNC-Chapel Hill, and North Carolina State University.
Appraisal Buzz
AUGUST 19, 2022
What are the essential tools and equipment to bring along when completing an on-site appraisal inspection ? Recently we asked our social media communities on Facebook and Twitter , “What’s ONE thing every property appraiser should always keep in their car?” Of course, the contents of an appraiser’s toolkit (or vehicle) will vary from one appraiser to another.
Eyes on Housing
AUGUST 16, 2022
A sharp decline in single-family home construction is another indicator that the housing slowdown is showing no signs of abating, as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act as a drag on the market. Overall housing starts fell 9.6% to a seasonally adjusted annual rate of 1.45 million units in July, according to a.
Housing Wire
AUGUST 18, 2022
After a July doldrums during which there were no agency-eligible private-label securitizations (PLS) backed by mortgages on residential investment properties, the ice was broken this month with a new offering sponsored by Blue River Mortgage III LLC. The prime PLS offering, dubbed GCAT 2022-INV3, is backed by a pool of 1,259 mortgages valued at $423 million.
Raleigh Realty
AUGUST 13, 2022
Location in Real Estate Location, location, location. Here's what makes location such an important factor when it comes to buying a home. The three most important factors when buying a home are location, location, and location. Too often I hear people talking about making decisions based on the home itself, instead of the location, and that is a mistake.
Appraisal Buzz
AUGUST 18, 2022
The ever present “zombie property” now represents one in just 78 units as the Vacant Property and Zombie Foreclosure from ATTOM Data showed that there were 1,277,162 properties sitting vacant across the country during the third quarter of 2022. This number represents 1.3% of the total number of homes. In addition, the report found that … The post Zombie Propertie Count Inches Up appeared first on DSNews.
Eyes on Housing
AUGUST 16, 2022
Single-family built-for-rent sector construction surged during the second quarter of 2022 as homebuying affordability declined on higher mortgage interest rates. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 21,000 single-family built-for-rent (SFBFR) starts during the second quarter of 2022.
Housing Wire
AUGUST 17, 2022
United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It’s a complementary product to the wholesale lender’s “Game On” initiative , a cut-rate pricing strategy devised to grow market share with purchase buyers.
Appraiserblogs
AUGUST 18, 2022
This time around, the racial targeting is masked as a virtue under the heading “Diversity, Equity and Inclusion,” or “DEI.” Valuation Jiu-Jitsu Will Lead to Future Addie Polks Addie Polk was a 91-year-old African-American widow who shot herself in the chest in 2008 during a Fannie Mae-initiated eviction in Akron, Ohio. It marked the low point in Fannie’s embrace of toxic mortgages.
Appraisal Buzz
AUGUST 17, 2022
A new analysis from a March LendingTree study found more than 16 million vacant housing units in the U.S. This figure may seem steep but becomes more reasonable when you consider how many homes nationwide sit empty while they’re waiting to be rented or sold or their owners are staying in their primary residence. While … The post Higher Share of Vacant Homes Sit in Expensive Towns appeared first on DSNews.
Eyes on Housing
AUGUST 18, 2022
As elevated mortgage rates and higher home prices weighed on housing affordability, existing home sales declined for six consecutive months, according to the National Association of Realtors (NAR). All four regions saw double-digit decline in sales from a year ago. But home price appreciation has slowed as inventory increased. The median existing home prices in July was down $10,000 from.
Housing Wire
AUGUST 17, 2022
July saw whiplash mortgage rates and our audience followed economic news very closely. Articles about rates, housing inventory and inflation were among our most popular, including: Purchase mortgage rates fall same week as Fed rate hike New home sales make it clear, housing is in a recession The nation’s housing market is on a correction course. But we also saw some resiliency, with companies expanding loan products — especially cash out and home equity— and shoring up their mortgage servicing r
Appraiserblogs
AUGUST 16, 2022
Future editions of USPAP will have an effective start date but no end date. Folks, on Thursday August 11, 2022, the ASB/TAF announced the extension of the current USPAP to the end of 2023. Assuming that a ‘new’ USPAP is formally approved in time, the next issue of USPAP will become effective January 1, 2024. But here’s the interesting wrinkle about this, which I admit I missed in their 8/11/22 announcement: “How long is the current version of USPAP effective?
Appraisal Buzz
AUGUST 17, 2022
New updated minimum financial eligibility requirements for GSE seller/servicers and Ginnie Mae issuers will ensure that the nation’s housing finance system remains safe and sound, and that sustainable mortgage credit remains available for all qualified borrowers. The post FHFA and Ginnie Mae Update Seller/Servicer Requirements appeared first on DSNews.
Eyes on Housing
AUGUST 18, 2022
Confidence in the market for new multifamily housing was mixed in the second quarter of 2022, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) decreased 6 points to 42 compared to the previous quarter, dragged down largely by.
Housing Wire
AUGUST 18, 2022
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net loss of $82 on each loan they originated in the second quarter. It’s a significant drop from the first quarter, when lenders saw a gain of $223 per loan, according to the Mortgage Bankers Association (MBA). The MBA attributed the losses to a rate rising environment and lack of housing inventory.
Birmingham Appraisal
AUGUST 16, 2022
Tips For Pricing a Home In A Shifting Market. Feds Increase Rate. On July 27 the Federal Reserve increased the federal funds rate yet again by.75%, in an attempt to fight inflation. While a higher fed fund rate initially affects how much banks pay to borrow money the rate increase will trickle down and affect the interest rates consumers pay on short-term mortgage loans.
Appraisal Buzz
AUGUST 17, 2022
Today’s Buzzcast interview is with Ernie Durbin, Chief Valuation Office at Voxtur. We sat down with Ernie and Joan Trice, Founder of Allterra Group, LLC, to discuss his upcoming CE session at Valuation Expo, “ Boom or Bust ” on September 9 th at 8:30 am. Which side are you on regarding if this market is a boom or bust? What can expect to see within the market over the next 3-6 months?
Eyes on Housing
AUGUST 18, 2022
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building registered relatively flat conditions for the second quarter of 2022. There were 53,000 total custom building starts during the second quarter of the year. This marks a 2% decline compared to the second quarter of 2021 in terms of year-over-year change.
Housing Wire
AUGUST 18, 2022
Purchase mortgage rates declined this week on the news that inflation appears to have peaked and appear to be stabilizing. The 30-year fixed-rate mortgage decreased this week to an average of 5.13%, down from last week’s 5.22%, according to the latest purchase mortgage survey from Freddie Mac. A year ago this time, rates averaged 2.86%. The index compiles rates reported by lenders during the past three days. “Inflation appears to be beyond its peak, which has stopped the rapid increa
Raleigh Realty
AUGUST 19, 2022
Millennial Homebuyers Millennial homebuyers are on the rise, and for good reason - interest rates are still historically low. With the increase in student loan debt, frequent career shifts, and living through the 2008 housing crisis, many may consider millennials financially insecure and opposed to home ownership. However, research surprisingly points in the opposite direction.
Appraisal Buzz
AUGUST 16, 2022
One of America’s most historic regions is its newest homebuying hotspot, with New England ZIP codes representing over half of 2022’s top 10 list in the eighth annual Realtor.com Hottest ZIP Codes Report released today. In these ZIP codes, homes sold in just over a week –or 8 days– and received nearly four times more … The post Millennials Seeking Cost-Efficient ZIP Codes appeared first on DSNews.
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