Housing Wire

MAY 21, 2023

It was a wild ride for the housing market last week! The 10-year yield rose noticeably, sending mortgage rates near 7% right in the heart of the spring selling season. New listings data fell, however, active inventory grew. And purchase apps had a weekly negative print, continuing the 2023 theme of higher rates impacting the data. Here’s a quick rundown of the last week: Total active listings grew by 3,809 weekly, but new listings are still trending at all-time lows.

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Housing Market Marketing Inventory New Listings 511

Sacramento Appraisal Blog

MAY 23, 2023

It’s graduation season for school, and it’s also that time of year where the spring housing market crests or graduates for the year so to speak. Let’s talk about the signs of a peak, the weirdness of today’s market, and bro rating. UPCOMING (PUBLIC) SPEAKING GIGS: 6/1/23 Thrive in Real Estate (register here) 6/07/23 SAFE […] The post Graduation for the spring housing market first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

Housing Market 302

Housing Market Marketing Real Estate Appraisal 302

Cleveland Appraisal Blog

MAY 26, 2023

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. They had hired the former real estate professional to value their property for the purpose of a divorce. But then they had to hire me to perform an appraisal.

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Appraisal Real Estate Agent Real Estate Agents 301

Real Estate News

MAY 23, 2023

As existing home listings have fallen, the inventory of new homes has increased — and prices have dropped — making them an attractive option.

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Buyers Inventory 299

Housing Wire

MAY 23, 2023

In a country with more than 330 million people, there are only 70,000 new homes available for sale today in the U.S. housing market. And with total active house listings in America near all-time lows, that is all we have for completed units for sale. The number of new homes doesn’t ever get into the millions, but we are still working our way back to the pre-COVID levels of 80,000 to 100,000.

Inventory 525

Inventory Housing Market Construction Marketing 525

Eyes on Housing

MAY 22, 2023

An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as interest rates reached historic lows. However, as interest rates increased in 2022, and housing affordability worsened, the demand for home size has trended lower. According to first quarter 2023 data.

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Real Estate News

MAY 23, 2023

Seeking steady rent growth and affordable price points, investors were drawn to cities in the Midwest and Southeast.

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Investors 290

Housing Wire

MAY 23, 2023

Fannie Mae and Freddie Mac executives recognize that the wave of loan-repurchase requests represents an added challenge for lenders who already have a stretched balance sheet. However, Fannie Mae’s position is that the loan-repurchase increases are an economic problem, not an underwriting process issue. Meanwhile, Freddie Mac said it’s in talks with lenders to address the problem through a more customer-focused approach.

Government 497

Government Clients Mortgage Marketing 497

Miller Samuel

MAY 21, 2023

On Friday morning, I was one of five expert witnesses (and the only as an appraiser) to testify on the topic of appraisal bias in front of the Appraisal Subcommittee (ASC). The witnesses waited together in the green room, plus additional TAF staff. We had a delightful conversation - everyone was very friendly and a pleasure to be with, given the adversarial nature of our looming testimony.

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Appraisal Real Estate Valuation Finance 195

The Appraiser Coach

MAY 23, 2023

Many of us hear about integrity often, but what does integrity even mean? What are we actually talking about here? A good explanation of integrity that I’ve heard is that.

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Inspection Advertising Business Real Estate Agent 195

Real Estate News

MAY 26, 2023

Pinnacle Realty Advisors CEO Sam Sawyer discusses his company’s model, growth trajectory and the traps they’re trying to avoid along the way.

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Brokerage Realty 279

Housing Wire

MAY 23, 2023

In my last market outlook for HousingWire, published in January , I offered two predictions for the early 2023 retail housing market based on forward-looking Auction.com bidding behavior from the fourth quarter of 2022: A home price correction nationwide and in the majority of major markets Home sales volume bottoming out While both predictions have played out in large part (more on that below), bidder behavior on Auction.com in the first quarter turned a sharp corner, indicating a robust reboun

Housing Market 459

Housing Market Marketing Retail Sellers 459

Inman

MAY 26, 2023

Mosaik is an operating system for the client experience, handling listings, tasks, transactions and relationships for real estate agents and teams.

Clients 194

Clients Agents Real Estate Agent Real Estate 194

Eyes on Housing

MAY 23, 2023

Stabilizing mortgage rates and a lack of resale inventory provided a boost for new home sales in April, even as builders continue to wrestle with rising costs stemming from shortages of transformers and other building materials and a persistent lack of construction workers. Sales of newly built, single-family homes in April increased 4.1% to a 683,000 seasonally adjusted annual rate.

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Construction Inventory Mortgage 189

Real Estate News

MAY 24, 2023

“You do not want to think you're smarter than your customers,” Florance said on CoStar’s strategy of building Homes.com as a platform for agents and consumers.

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Agents Business 279

Housing Wire

MAY 22, 2023

Rocket Mortgage introduced a new 1% down home loan program aiming to target more than 90 million borrowers. Rocket’s new product comes on the heels of rival United Wholesale Mortgage (UWM) rolling out a similar program. Dubbed ONE+, a buyer using this program who’s purchasing a single-family home, and whose income is equal to or less than 80% of their area median income (AMI), is only required to make a down payment of 1% of the purchase price.

Insurance 435

Insurance Mortgage Buyers Government 435

Inman

MAY 22, 2023

Resolute Diligence Solutions specifically focuses on due diligence for single-family rentals and for residential transition loans and will help Setpoint beef up its technology platform.

Technology 171

Technology Buyers 171

Eyes on Housing

MAY 24, 2023

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the first quarter of 2023, there were just 4,000 2- to 4-unit housing unit construction starts.

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Construction Development 179

Real Estate News

MAY 26, 2023

The latest Redfin report finds that while moving is down overall, a higher percentage of those who move are relocating to other parts of the U.S.

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Housing Wire

MAY 22, 2023

Setpoint , a real estate funding platform, acquired Resolute Diligence Solutions to support proptech and single-family rental re-engagement in the market, the firm said. Resolute Diligence Solutions is a due diligence provider that partners with banks, lenders and originators to ensure each deed, title or lease is verified and reported accurately against financial statements.

Real Estate 434

Real Estate Tools Housing Market Clients 434

Inman

MAY 26, 2023

The home in Studio City was renovated by HGTV in 2019 and has since been used in a number of the network's specials and series. Now one lucky buyer will be able to keep a piece of television history.

Renovations 167

Renovations Marketing Buyers Modernization 167

Eyes on Housing

MAY 23, 2023

According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the first quarter of 2023. For the first quarter, 127,000 multifamily residences started construction. Of this total, 123,000 were built-for-rental use. The market share of rental units of multifamily construction starts stood at an elevated 96% for the first quarter as the.

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Construction Marketing 179

Real Estate News

MAY 25, 2023

NAR was unsuccessful in its attempt to overturn the class action status of the $13 billion Moehrl suit.

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Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years. According to data from Statista , there were roughly 5.95 million homes bought and sold in the U.S. last year.

Loan Officers 418

Loan Officers Real Estate Agent Real Estate Finance 418

Inman

MAY 22, 2023

Inman recently caught up with Marguleas to discuss his company's new venture in Dallas, the effects of the LA 'Mansion Tax' and what he's looking forward to at this year's ICLV event.

Marketing 167

Marketing 167

George Dell

MAY 24, 2023

Evidence Based Valuation – EBV © is the future for valuation professionals. It requires the appraiser’s experience, judgment, and knowledge. It is not hard, just new. It gives better results faster. EBV generates more than a point value opinion. Therefore it requires competence beyond old legacy appraisal “procedures.” This new competency is a merger of […] The post How Do I Move to EBV?

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Valuation Appraisal 150

Real Estate News

MAY 25, 2023

The value prop of MLSs as data aggregation organizations could be industry-changing. But like in "Moneyball," they'll need to play the game differently.

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Housing Wire

MAY 26, 2023

Borrowers seeking mortgage financing to purchase a home could find themselves saving $100 a month or more by shopping around, and locating cheaper lenders with which to do business. This is according to a new blog post published this week by the Consumer Financial Protection Bureau (CFPB). By analyzing Home Mortgage Disclosure Act (HMDA) data from 2021, the CFPB determined that mortgage rates paid by consumers vary across a wide variety of lenders, including for mortgages backed by Fannie Mae an

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Mortgage Finance Marketing Business 417

Inman

MAY 22, 2023

Does this sound familiar? You have a beautiful listing that would be a fantastic investment for a buyer — yet it has dated paint colors, worn furniture, and too many accessories that will ultimately detract from the results you know you could achieve for your seller.

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Sellers Investing Buyers Realty 167

Appraiserblogs

MAY 23, 2023

While the statute doesn’t explicitly mention that providing a loan amount is an AIR violation… When a mortgage lender seeks to make a Veterans Administration-backed home loan, the lender requests an appraisal from the VA’s appraiser panel by using a form entitled Request for Determination of Reasonable Value. For many years, until it was revised in July 2022, this form had a box labelled “Refinancing-Amount of Proposed Loan.

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Appraisal Appraisal Process Mortgage 133

Real Estate News

MAY 25, 2023

Low inventory combined with a lack of affordability continues to stifle spring sales nationally, though numbers were up in some regions.

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Inventory 264

Housing Wire

MAY 23, 2023

Homebuilders , whose sentiment hit the midpoint mark of 50 earlier this month for the first-time since July 2022, have yet another reason to celebrate. The sales pace of new homes has also increased for the fifth consecutive month, according to data published on Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ).

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Inventory Construction Development Buyers 418

Inman

MAY 22, 2023

Jordan Cohen of RE/MAX One spent three decades rising through the ranks and becoming the go-to real estate agent for professional athletes and celebrities alike.

Agents 167

Agents Real Estate Agent Real Estate 167

Valuation Review

MAY 22, 2023

Black Knight Home Price Index numbers revealed for March.

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Inventory 113