Housing Wire

APRIL 20, 2022

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S. from 2012 to 2021. This represents less than 1% of the estimated potentially eligible population of 70,000 veterans, the watchdog agency said.

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Government Lending Development Legal 542

Sacramento Appraisal Blog

APRIL 18, 2022

Could you live in a tiny home? Or what about a skinny home? I’m talking where walls range anywhere from eight feet to twelve feet wide at their maximum. Well, let’s talk about a super thin unit that sold recently in Sacramento. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm. We’ll […].

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Appraisal Modernization Design Construction 445

Appraisal Buzz

APRIL 18, 2022

This article was first published in the Appraisal Buzz Magazine. If you have shared a story with us in the past that was never published, please resend it. Your story could be one of the best this time around! Send your stories to comments@appraisalbuzz.com. Have you ever walked away from a day thinking, “No one’s EVER going to believe this!” Well, we want to hear all about it!

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Appraisal Business Retail Inspection 413

Cleveland Appraisal Blog

APRIL 21, 2022

It’s tax appeal season and I’ve had several homeowners say that they feel their neighbors are negatively impacting the value of their home for different reasons. Is that the case? Can that be the case? Let’s talk about it. The homeowners of one property stated that their neighbors are a nuisance. My clients said that one of their neighbors has people coming and going until late in the evening, most evenings.

Market Value 350

Market Value Appraisal Agents Real Estate Agent 350

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies. For now, only borrowers financially impacted by the pandemic can opt for the loss mitigation option, and it may only be used in combination with a partial claim option.

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Insurance Development Mortgage Government 508

Eyes on Housing

APRIL 18, 2022

Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability. Builder confidence in the market for newly built single-family homes moved two points lower to 77 in April, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

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Housing Market Marketing Construction 210

George Dell

APRIL 20, 2022

Traditional appraisal says we should describe and analyze the subject neighborhood. In residential form reports, there is a section devoted to the neighborhood. In general narrative reports, there is a section devoted to the neighborhood. In fact, often there is great discourse about the town, the city, and greater things. We have often heard criticism […].

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Appraisal 195

Housing Wire

APRIL 20, 2022

The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 million. However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. However, hope for a balanced market is real this year because, with higher rates, we should see more days on the market coming up and growth in the inventory data.

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Housing Market Marketing Inventory Mortgage 505

Eyes on Housing

APRIL 19, 2022

Single-family starts permits declined in March, as higher interest rates weighed on housing affordability and produced a fourth straight decline for the NAHB/Wells Fargo HMI. Additionally, the cost and availability of materials, lumber, labor and lots remain key supply-side headwinds. Nonetheless, the resale market lacks inventory supporting ongoing demand for new construction.

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Construction Inventory Marketing 197

Appraisal Buzz

APRIL 22, 2022

Rapidly rising mortgage rates are worsening affordability challenges that have been brought on by record home value growth. According to the March Zillow Real Estate Market Report, monthly mortgage payments on the typical U.S. home are 19.5% higher than they were three months ago, and 38% higher than a year ago. Despite this, the pace … The post Home Value Forecast Predicts Slowdown in Growth appeared first on DSNews.

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Home Value Real Estate Appraisal Mortgage 370

The Appraiser Coach

APRIL 19, 2022

Toward the beginning of the Covid-19 pandemic, I heard a lot of people who said something like, “Dustin, I think that there’s going to be a lot more flexibility because. Read More.

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Inspection Advertising Business Real Estate Agent 195

Housing Wire

APRIL 20, 2022

Fannie Mae has lowered its mortgage origination forecasts for 2022 and 2023 due to the Federal Reserve’s (Fed) aggressive inflation-fighting monetary policy and corresponding volatility in the mortgage market. Fannie’s Economic and Strategic Research (ESR) Group dropped its projected single-family mortgage origination volume for 2022 from $3 trillion to $2.8 trillion.

Technology 476

Technology Mortgage Contracts Real Estate 476

Eyes on Housing

APRIL 22, 2022

An earlier post revealed that 67% of buyers who were actively engaged in the process of finding a home in the 1st quarter of 2022 have spent 3+ months searching for a home without success. By far, the most common reason these long-term searchers cite for not having bought by now is their inability to find an affordable home (48%). .

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Buyers 187

Appraisal Buzz

APRIL 22, 2022

Virtual tours have gained in popularity over the past two years, with Charlotte, North Carolina leading the way with a 1,571% increase in interest. The post Demand Grows in 3D Tours of SFR Properties appeared first on DSNews. The post Demand Grows in 3D Tours of SFR Properties appeared first on Appraisal Buzz.

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Appraisal 284

GoForrmz

APRIL 22, 2022

This Earth Day 2022, we are incredibly proud of our paperless customers working towards a greener workplace As we observe another Earth Day, here at GoFormz we celebrate by recognizing all of our customers that have taken incredible strides in their paperless initiatives. By digitizing physical paper documents, collectively we have saved over 18,035 trees by digitizing over 41,398,474 form s – that’s more than 150,291,205 pages of paper !

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Business Technology Clients 148

Housing Wire

APRIL 19, 2022

On Tuesday, the U.S. Census Bureau released their report for March, showing a solid number of housing permits and starts — but these were boosted by multifamily construction. In addition, this data lags behind the current reality of a housing market dealing with much higher mortgage rates. The previous month’s data were revised higher; on the surface, this is a favorable report with 1.873 million housing permits and 1.793 million housing starts.

Mortgage 459

Mortgage Housing Market Construction Marketing 459

Eyes on Housing

APRIL 21, 2022

Buyers’ expectations of housing availability continue to worsen. At its peak in the 4th quarter of 2020, 36% expected the home search to get easier in the months ahead. After five straight drops, the share is now 17% – a level not seen since 2018. In contrast, 74% expect the search for a home to get harder/stay the same. Buyers’.

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Buyers 187

Appraisal Buzz

APRIL 22, 2022

The upcoming Five Star Government Forum will bring together industry stakeholders and their government partners to Washington, D.C. to discuss the mortgage and housing landscape in 2022 and onward. The post The Week Ahead: Servicing Industry Meets Government Leaders to Chart Future appeared first on DSNews. The post The Week Ahead: Servicing Industry Meets Government Leaders to Chart Future appeared first on Appraisal Buzz.

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Government Appraisal Mortgage 284

Appraiserblogs

APRIL 18, 2022

…a brilliant ‘work around’ to solve the subject & comps adjustment issues, which Fannie Mae thinks is no big deal… Appraisers, I was chatting with an appraiser buddy last week about the ANSI measuring dilemma we all face when doing Conventional lending reports, which ultimately will wind up with Fannie Mae. In my view, my appraiser buddy has a brilliant ‘work around’ to solve the subject & comps adjustment issues, which Fannie Mae thinks is no big deal, but we all know will cause conside

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Appraisal Lending Marketing 132

Housing Wire

APRIL 20, 2022

Bonnie Williamson never intended to be a real estate agent. As a French major and Russian and political science minor at the University of Michigan, Williamson had initially entertained the idea of going into politics. Instead, she was recruited out of school as one of Pan Am ’s first Russian speaking stewardesses. Williamson was on the airline’s inaugural flight to Moscow in 1968.

Real Estate Agent 448

Real Estate Agent Real Estate Agents Brokerage 448

Eyes on Housing

APRIL 21, 2022

Buyers’ expectations for housing affordability continue to sour. In the first quarter of 2022, 81% said they could afford less than half the homes for-sale in their markets – the highest share since before the pandemic. At its lowest point in the 4th quarter of 2020, 63% of buyers expected to afford <50% of the homes available. On the other.

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Buyers Marketing 179

Appraisal Buzz

APRIL 22, 2022

In her new role, 25-year industry veteran will oversee multiple assignment teams at LRES. The post LRES Promotes Martha Zamora to Director, Assignment appeared first on DSNews. The post LRES Promotes Martha Zamora to Director, Assignment appeared first on Appraisal Buzz.

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Appraisal 195

McKissock

APRIL 22, 2022

In an appraisal assignment, an extraordinary assumption is employed to presume certain unknown information as fact. An extraordinary assumption is related to a specific assignment, and takes information that is unknown as of the effective date of the assignment results and assumes it to be true. If this assumption were found to be false, it could affect the appraiser’s opinions and conclusions.

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Inspection Appraisal Mortgage 105

Housing Wire

APRIL 22, 2022

A Wells Fargo bank branch. Wells Fargo & Co., the top depositary mortgage lender in the country, is cutting jobs in its home lending business, just days after reporting weak mortgage earnings in the first quarter of 2022. “The home lending displacements this week are the result of cyclical changes in the broader home lending environment,” a Wells Fargo’s spokesperson told HousingWire.

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Mortgage Lending Retail Business 435

Eyes on Housing

APRIL 20, 2022

The share of adults planning a home purchase within a year fell for a third straight quarter in the first three months of 2022, down to 13%. The last time fewer American adults intended to buy a home was in the second quarter of 2020 (11%). The decline is evidence that the COVID-induced boost to housing demand is past its.

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Appraisal Buzz

APRIL 22, 2022

In an appraisal assignment, an extraordinary assumption is employed to presume certain unknown information as fact. An extraordinary assumption is related to a specific assignment, and takes information that is unknown as of the effective date of the assignment results and assumes it to be true. If this assumption were found to be false, it could affect the appraiser’s opinions and conclusions.

Appraisal 195

Appraisal 195

Riverfront Appraisals

APRIL 21, 2022

When’s the last time you picked up the phone and called an appraiser? Maybe you had a question about how to adjust for an inground pool. Maybe you had a problem and the home didn’t appraise at the sale price. Do you ever communicate with the appraiser? While most appraisers and Realtors have good […]. The post The Realtor’s Guide to Appraisals Part 5: Tips on Communicating with the Appraiser appeared first on Riverfront Appraisals.

Appraisal 101

Appraisal Realtors Appraisal Process Housing Market 101

Housing Wire

APRIL 21, 2022

Freddie Mac will debut targeted lending programs this year, following guidance from regulators giving lenders the go-ahead. The special purpose credit programs will pertain to Black, Latino and Native American borrowers, according to Pamela Perry , head of Freddie Mac’s single-family equitable housing team. The programs will be announced in the third quarter of this year, Perry said during a fair housing webinar hosted by the National Housing Conference , a mortgage trade association.

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Lending Legal Law Development 435

Eyes on Housing

APRIL 20, 2022

Preference for newly constructed homes skyrocketed in 2020, as buyers looked for homes with more square footage and amenities in which to work remotely, school children, exercise, etc. By the fourth quarter of 2020, 42% of prospective buyers preferred new construction. Since then, however, rising new home prices (driven by a 31% increase in the cost of building materials) have.

Construction 179

Construction Buyers 179

Appraisal Buzz

APRIL 22, 2022

DART (Digital Asset Registration Technologies Inc.), a combined lien and eNote registry system developed by Figure Technologies Inc. using blockchain technology, has two new integration agreements. The first is with Blue Sage , a cloud-based digital lending platform for retail, wholesale and correspondent lenders. The second is with Docutech , a provider of document, eSign, eClose and digital-to-print fulfillment technology for the mortgage industry and a member of the First American family of c

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Retail Technology Lending Development 195

McKissock

APRIL 19, 2022

New real estate agents may find it difficult to establish themselves as a local expert in real estate—especially when they’re competing against seasoned professionals. One often-overlooked way to gain experience and insight into a local real estate market is to help renters seeking new apartments. If you’re a real estate agent who would like to get your foot in the door with local clients , consider the long-term benefits of providing this service while you’re getting started.

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Real Estate Agent Real Estate Clients Agents 79

Housing Wire

APRIL 20, 2022

With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the latest survey by the Mortgage Bankers Association. The drop was largely driven by an 8% decline in refinancing applications, which was 68% lower than the same week one year ago. The seasonally adjusted purchase index dropped 3% from the week prior, according to the trade group.

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Mortgage Contracts Buyers 435

Eyes on Housing

APRIL 22, 2022

A growing segment of prospective home buyers aren’t moving past the planning stage. At its peak in mid-2021, 61% were actively trying to find a home to buy. Now, the share is back to pre-pandemic levels, at 46%. This is clear evidence that higher mortgage rates and double-digit growth in home prices are discouraging a growing share of buyers from.

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Buyers Mortgage 167

Appraisal Buzz

APRIL 22, 2022

First American Financial Corp. has released the February 2022 First American Real House Price Index (RHPI). The RHPI measures the price changes of single-family properties throughout the U.S. adjusted for the impact of income and interest rate changes on consumer house-buying power over time at national, state and metropolitan area levels. Because the RHPI adjusts for house-buying power, it also serves as a measure of housing affordability.

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Appraisal 195