Housing Wire
SEPTEMBER 21, 2022
Housing construction in the U.S. during the brief COVID-19 recession, to that recovery, and now in the new housing recession, is going to go down in history as one of those crazy data lines we lived through. Just to give you some perspective here, at the peak of 2005, we had about 2.24 million housing completions in the monthly report. Today, even with over a decade of building growth, we are at 1.342 million.
Sacramento Appraisal Blog
SEPTEMBER 21, 2022
I’ve been getting asked lots of questions lately about choosing comps since the market shifted. Here are some things people have been asking me. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (Sign up here – On Zoom) 10/13/22 Market update in Midtown (details TBD) 10/20/22 How to Think Like an Appraiser (9am-12pm) (Sign up […].
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Cleveland Appraisal Blog
SEPTEMBER 23, 2022
Hello! I hope you’re having a fantastic week! This week I am happy to welcome back guest blogger Shirley Martin. In this article, she offers some great tips on traveling between homes with our pets. I hope you enjoy it! Owning a home in another state can be a challenge with travel, organization, and house maintenance tasks. Another challenge for second homeowners is dealing with their pets.
Eyes on Housing
SEPTEMBER 19, 2022
In another sign that the slowdown in the housing market continues, builder sentiment fell for the ninth straight month in September as the combination of elevated interest rates, persistent building material supply chain disruptions and high home prices continue to take a toll on affordability. Builder confidence in the market for newly built single-family homes fell three points in September.
Housing Wire
SEPTEMBER 22, 2022
Today the National Association of Realtors reported that existing home sales fell once again to 4.80 million. Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. .
Appraisal Buzz
SEPTEMBER 23, 2022
According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023. According to the ESR, economic growth is projected to resume in the second half of 2022, but the … The post Fannie Mae Continues to Forecast 2023 Recession appeared first on DSNews.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
George Dell
SEPTEMBER 21, 2022
Appraisers are paid for their thinking, as well as some other skills. If there is no thinking, it can be called an “Automated” appraisal. Thinking is defined as giving thought to consider or reason about something – using rational judgment. Thinking about thinking can cause discomfort. “What will people think of me — if my […]. The post Should We Think About Thinking?
Housing Wire
SEPTEMBER 21, 2022
Before the pandemic, the historical average of annualized house price growth was approximately 4%. Yet, pandemic-era dynamics exacerbated an already large housing demand and supply imbalance, fueling record-breaking annual house price growth, peaking at nearly 21%. Today, as affordability wanes and housing supply ticks up, house price growth is decelerating and will likely continue to trend towards its historical average.
Appraisal Buzz
SEPTEMBER 23, 2022
Black Knight Inc. has released a “first look” the latest iteration of its Mortgage Monitor Report for August 2022, which looks at delinquency and foreclosure rates across the U.S. According to Black Knight, the national delinquency rate fell to 2.79% in August. The delinquency rate was 2.89% in July, 2.84% in June, 2.75% in … The post Delinquencies Still Well Below Pre-Pandemic Levels—When Will That Change?
The Appraiser Coach
SEPTEMBER 20, 2022
Before the COVID-19 pandemic began, my daughter was doing some volunteer work in South America, helping people who have been rescued from the human trafficking industry. She was down there. Read More.
Eyes on Housing
SEPTEMBER 22, 2022
The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in the second quarter of 2022, growth of the market value of all owner-occupied real estate in the United States slowed after showed the largest year-over-year percentage gain since 2001 the prior quarter. The market value of owner-occupied real.
Housing Wire
SEPTEMBER 22, 2022
Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% from the beginning of this year, but they may have not peaked, putting pressure on affordability challenges for most prospective buyers as the Federal Reserve vows to tame inflation.
Appraisal Buzz
SEPTEMBER 23, 2022
Fix-and-flip investors enjoyed another strong quarter in Q2, as the total number of properties flipped nationwide was the second-highest ATTOM recorded over the past 22 years. The post Q2 Profits on Home Flips Hit New High appeared first on DSNews. The post Q2 Profits on Home Flips Hit New High appeared first on Appraisal Buzz.
Miller Samuel
SEPTEMBER 22, 2022
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Eyes on Housing
SEPTEMBER 22, 2022
Continuing its tightening of financial conditions to bring the rate of inflation lower, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 75 basis points, increasing that target to an upper bound of 3.25%. This marks the third consecutive meeting with an increase of 75 basis points. These supersized hikes are intended to move monetary policy.
Housing Wire
SEPTEMBER 22, 2022
Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. The agency’s Economic and Strategic Research (ESR) Group forecasts the total home sales to decline 17.2% to 5.71 million units this year from 2021, a further downward revision from August’s projected 16.2% drop. .
Appraisal Buzz
SEPTEMBER 23, 2022
The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. The agency also seeks public input on ways to support … The post CFPB Seeks to Expand Homebuyer Options appeared first on DSNews.
Miller Samuel
SEPTEMBER 22, 2022
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Eyes on Housing
SEPTEMBER 21, 2022
In August, housing starts rebounded but housing permits declined for the second straight month. The August drop in building permits indicates that the housing market is continues to cool as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act as a drag on the market. Overall housing starts rose 12.2% to a seasonally adjusted annual rate.
Housing Wire
SEPTEMBER 20, 2022
No serious observer of today’s economy doubts that it is harder and harder for everyday folks to buy a home. This is especially true for first-time homebuyers across the country, in exurbs, Sunbelt suburbs, and neighborhoods in cities large and small. This escalating unaffordability affects the long-term opportunities of virtually everyone who doesn’t own a home, and the children of those who do.
Appraisal Buzz
SEPTEMBER 22, 2022
On Monday, the Five Star Conference & Expo kicked off its second day of programming with the annual Legal League 100 Fall Servicer Summit for members, associate members, and mortgage industry professionals which features multiple panels and collaborative discussions regarding regulatory developments, landmark cases, and emerging issues within the housing and mortgage markets.
GoForrmz
SEPTEMBER 22, 2022
GoFormz dominates the G2 Fall Reports – from Best Support to Most Implementable G2 is the world’s leading peer-to-peer review platform. Buyers, investors, analysts, and business professionals utilize this site to compare and select the best software solutions based on actual customer feedback. At GoFormz, we continuously strive to better our product and ourselves to provide our customers with the best possible experience – and our customers have spoken.
Eyes on Housing
SEPTEMBER 22, 2022
As elevated mortgage rates and higher home prices continue to price out homebuyers and reduce affordability, existing home sales declined for seven consecutive months in August, according to the National Association of Realtors (NAR). All four regions saw double-digit declines for sales from a year ago. Additionally, home price appreciation slowed for the second month after reaching a record high.
Housing Wire
SEPTEMBER 22, 2022
In its fourth year, HousingWire’s Tech Trendsetters is honoring the people behind our prestigious TECH100 award. These are the tech leaders who are driving innovation and modernization for their mortgage and real estate clients. Take a look through some of our past honorees to see their list of accomplishments and don’t forget to nominate a 2022 Tech Trendsetter before it’s too late!
Appraisal Buzz
SEPTEMBER 22, 2022
The Consumer Financial Protection Bureau (CFPB) has released its annual report on residential mortgage lending activity and trends for 2021. The report’s data are submitted by thousands of the nation’s lending institutions under the Home Mortgage Disclosure Act (HMDA). The report shows a significant shift from refinance loans in 2020 to home purchase loans in … The post Asian, Black, and Hispanic-white Borrower’s Purchase Loan Shares Increase appeared first on DSNews.
The Robert Weiler Company
SEPTEMBER 19, 2022
The importance of a fully modern open space preservation vehicle – a conservation easement in Ohio – cannot be better summarized than by our 26th President. Theodore Roosevelt, one of the nation’s original land protectionists, embodied the power and beauty of a conservation easement in the following quote: “Here is your country. Cherish these natural wonders, cherish the natural resources, cherish the history and romance as a sacred heritage, for your children and your children’s children.
Eyes on Housing
SEPTEMBER 19, 2022
Nonfarm payroll employment increased in 37 states in August compared to the previous month while 13 states and the District of Columbia lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 315,000 in August, following a gain of 526,000 jobs in July. On a month-over-month basis, employment data was strong in Kentucky, which.
Housing Wire
SEPTEMBER 21, 2022
Atlanta-based non-QM lender Angel Oak Cos. , through its mortgage-backed securities conduit Angel Mortgage Trust , has unveiled its sixth private-label securities (PLS) offering of 2022, even as fast-rising interest rates have jumped far ahead of the lower-rate legacy loans securing the deal. The average coupon is 5% for the pool of 795 non-qualified (non-QM) mortgages backing the current offering — dubbed AOMT 2022-6, valued at $389.3 million, according to a bond-presale report by Fitch Ratings
Appraisal Buzz
SEPTEMBER 22, 2022
For the third time in a row, the Federal Reserve’s Federal Open Market Committee (FOMC) raised the nominal interest rate by 75-basis points at the conclusion of their scheduled two-day meeting to a rate of 3.00-3.25%. This marks the highest interest rate in 14 years. This marks the fifth increase this year and the … The post Federal Reserve Continues Rate Hikes appeared first on DSNews.
Birmingham Appraisal
SEPTEMBER 21, 2022
A Closer Look At The Final Inspection. You may have heard of an appraisal inspection but what is a final inspection? Keep reading to find out the “second part” of the appraisal process for certain types of appraisals. For many types of appraisals, there is only one inspection or observation as we like to call it. Because an appraisal is nothing like a home inspection, that term could be somewhat misleading.
Eyes on Housing
SEPTEMBER 22, 2022
While the COVID-19 pandemic has triggered many social and economic disruptions, it has also changed working arrangements and has accelerated the shift to work from home (WFH). During the COVID-19 outbreak in the early of 2020, many businesses across the United States closed and millions of workers experienced the work from home trend out of necessity.
Housing Wire
SEPTEMBER 21, 2022
Demand for mortgage loans increased for the first time in six weeks, ahead of the Federal Reserve ’s meeting on Wednesday, when observers expect at least another 75 basis points hike to the federal funds rate. According to the Mortgage Bankers Association (MBA), the market composite index , a measure of mortgage loan application volume, increased 3.8% for the week ending Sep. 16, compared to the previous week.
Appraisal Buzz
SEPTEMBER 21, 2022
Today’s Buzzcast interview is with Ken Dicks, Director of Appraiser Compliance for Reggora. We sat down with Ken and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool when it comes to lenders and a lender perspective. What are ways in which appraisers act as the eyes and ears? What can lenders take away from an appraiser’s expertise regarding a property?
Empire Appraisal Group
SEPTEMBER 22, 2022
What’s in a Street Name? A Key to Home Values. By Dan Weil. Homes are more expensive along streets with the words Beverly, Third, Brickell, Bayshore or Island. But Timber or Knoll street homes took longer to sell. JACKSON, Ga. – Some street and neighborhood names are more associated with expensive homes than other names. “What’s in a name?” Shakespeare wrote in “Romeo & Juliet.
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