Sacramento Appraisal Blog
FEBRUARY 1, 2022
Do you smell that? It’s price growth. The market is rising, which is normal for January. But this year it feels extra aggressive. Let’s talk about it. Scroll quickly or digest slowly. UPCOMING PUBLIC SPEAKING GIGS: 2/9/2022 Yolo Associaton of Realtors market update (details) 2/18/2022 WCR El Dorado County market update (details) 2/25/2022 Placer Association […].
Housing Wire
FEBRUARY 3, 2022
Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. On Wednesday, the bank announced that it will consider applications for residential mortgage or home equity line of credit (HELOC) on the portal EZApply only until Feb. 11. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications.
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Appraisal Buzz
JANUARY 31, 2022
With an emphasis on the Golden State, investors in 2021 comprised the highest share of single-family home and condo sales nationwide since 2013. The post Institutional Investors Reach Seven-Year High in Home Purchases appeared first on DSNews. The post Institutional Investors Reach Seven-Year High in Home Purchases appeared first on Appraisal Buzz.
Eyes on Housing
FEBRUARY 3, 2022
Most analyses of lumber price trends and levels fail to account for inflation because the price data for softwood lumber used in framing applications is generally quoted using the Random Lengths Framing Lumber Composite Price or lumber futures prices–neither of which is inflation-adjusted.
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George Dell
FEBRUARY 2, 2022
This post starts the last in our series on the “five frictions” of valuation reform. The question we ask : Is there a simple single solution to our convoluted regulation of a simple product? We have considered that government regulation is a significant friction — holding back scientific and practical progress. We identified the only […].
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Appraisal Buzz
FEBRUARY 2, 2022
[link]. Today’s Buzzcast interview is with Jody Bishop, the new President of The Appraisal Institute. We sat down with Jody and Joan Trice, Founder of Allterra Group, LLC to discuss what the outlook for the Appraisal Institute is for 2022 and what appraisers can expect from their initiatives. What are some of the changes in store this year for The Appraisal Institute?
The Appraiser Coach
FEBRUARY 1, 2022
With the end of the year upon us, it’s important to look back on where we’ve been. During that process, however, it is also important to take the time to. Read More.
Eyes on Housing
FEBRUARY 1, 2022
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.1% in December after an increase of 0.7% in November 2021. Spending stood at a seasonally adjusted annual rate of $810.3 billion. Total private residential construction spending was 15.0% higher than a year ago. These monthly gains are attributed to the strong growth of spending.
Housing Wire
FEBRUARY 4, 2022
Today, the Bureau of Labor Statistics reported that 467,000 jobs were created in January. This was a big surprise as some people, including me, thought the rise in the number of sick days being reported could impact this month’s job report. One of the factors I’ve cited over the last few months is that we should see more positive revisions occur in the future.
Speaker: Dylan Secrest
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Appraisal Buzz
FEBRUARY 2, 2022
Mortgage applications increased 12% from one week earlier, according to data from the Mortgage Bankers Association ‘s (MBA) Weekly Mortgage Applications Survey for the week ending January 28, 2022. The Market Composite Index, a measure of mortgage loan application volume, increased 12% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index increased 15% compared with the previous week.
Urban
JANUARY 31, 2022
Condos can present a key path to homeownership, but federal financing issues and local defect laws have contributed to a lack of multifamily units for sale.
Eyes on Housing
FEBRUARY 2, 2022
An earlier post revealed that 67% of buyers who were actively engaged in the process of finding a home in the final quarter of 2021 have spent 3+ months searching for a home without success. The inability to find a home they could afford once again became the most common reason (41%) these long-time searchers could not buy a home. .
Housing Wire
FEBRUARY 4, 2022
After two months of disappointing job growth, the U.S. jobs report released Friday shows that 467,000 non-farm payroll jobs were added in January. Despite this increase, the unemployment rate rose slightly to 4.0% in January from 3.9% in December. The unemployment rate remains higher than the 3.5% unemployment rate recorded in February 2020, just prior to the Covid-19 pandemic.
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Appraisal Buzz
JANUARY 31, 2022
Opteon is looking for certified residential and commercial appraisers to join our team. In this fast-paced, deadline-driven industry, we empower our appraisers to work smarter, not harder. With a team behind you to support and guide you, you’ll have the free time to pick up a hobby in no time. By empowering appraisers in the field, Opteon has trimmed down the average turn time in Australia and New Zealand from 12 days to 2 days.
Raleigh Realty
FEBRUARY 2, 2022
Negotiating Repairs After a Home Inspection What fixes are mandatory after a home inspection? Is the seller not willing to negotiate repairs? Here are strategies to help with your requests for negotiating repairs after a home inspection Negotiating repairs after a home inspection doesn't have to be difficult, especially when you follow these 7 tips When an offer is accepted on a home, it can be easy for both buyers and sellers to feel that they’re at the end of the finish line.
Eyes on Housing
FEBRUARY 1, 2022
The share of prospective buyers actively trying to find a home fell in both the third (57%) and fourth quarters (52%) of 2021, after reaching a series high of 61% in the second quarter of the year. The downward trend demonstrates how falling levels of housing affordability have discouraged a growing share of potential home buyers from actively engaging in.
Housing Wire
FEBRUARY 3, 2022
This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Appraisal Buzz
FEBRUARY 2, 2022
$43 trillion: that is the new value of the housing market as a whole, now double what it was since the lows of the post-recession market and the corresponding building slump of the early 2010s. According to Zillow, the housing market gained $6.9 trillion in value in 2021 increasing to $43.4 trillion throughout the year. It … The post The Housing Market Gained 6.9 Trillion in 2021 appeared first on theMReport.com.
Raleigh Realty
FEBRUARY 4, 2022
New Construction Home Buying Tips You asked. We listened. We answered. here are the best new construction homebuying tips How to buy a new construction house Last week we wrote an article on how to buy a house for first-time home buyers. The feedback we received was incredibly gratifying, overwhelming, and unexpected We received a question from one of our readers, Jerry, regarding how buying an existing home compares to buying a new construction home, asking for both the similarities and differe
Eyes on Housing
FEBRUARY 2, 2022
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.5% in the last quarter of 2021. In contrast to some data reporting in 2020 and earlier 2021, the last quarter of 2021 data collection was not affected by the pandemic, as in-person interview returned in all areas. The national homeowner vacancy rate stayed at a record.
Housing Wire
FEBRUARY 2, 2022
Mortgage applications increased 12% from the previous week due to a surprising uptick in demand for “refis” as borrowers try to secure a lower rate , according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. 28. The seasonally adjusted Refinance Index rose 18.4% in the same period. Meanwhile, the Purchase Index increased 4%.
Appraisal Buzz
JANUARY 31, 2022
Last November, the Federal Housing Finance Agency (FHFA) announced the annual change of the conforming limit, which limits the price at which Fannie Mae and Freddie Mac are allowed to purchase single-family home loans. Until 2008, this was a singular, flat dollar amount, but legislation passed that year created exceptions for high cost areas that … The post Is Now the Time To Readdress Conforming Loan Limits?
Raleigh Realty
FEBRUARY 4, 2022
What is Dual Agency in Real Estate and Should you Avoid it Most buyers and sellers are familiar with how listing agents and buyer’s agents work which leads us to the question of what is dual agency in real estate? Dual agency isn’t particularly common, but it does tend to happen from time to time, so it is always best to be informed on the intricacies of this transaction type.
Eyes on Housing
FEBRUARY 4, 2022
Despite the omicron surge, the U.S. job market experienced solid gains. Total nonfarm payroll employment increased by 467,000 in January, and the unemployment rate ticked up slightly to 4.0%. Additionally, job gains in December and November were much stronger than initially estimated, according to revisions of the establishment survey data. Construction industry employment (both residential and non-residential) totaled 7.
Housing Wire
FEBRUARY 1, 2022
Home prices across the nation climbed 18.5% year-over-year in December, according to a monthly report published by CoreLogic. On a month-over-month basis, home price gains rose by 1.3% in December 2021 compared to November. Consumer desire for homeownership paired with a low supply of for-sale homes were the main contributors to a red-hot housing market in 2021.
Appraisal Buzz
FEBRUARY 2, 2022
$43 trillion: that is the new value of the housing market as a whole, now double what it was since the lows of the post-recession market and the corresponding building slump of the early 2010s. According to Zillow, the housing market gained $6.9 trillion in value in 2021 increasing to $43.4 trillion throughout the year. It … The post In 10 Years, the Housing Market Has Doubled appeared first on DSNews.
Raleigh Realty
JANUARY 31, 2022
Living in Durham, NC Find out why 70+ people are Moving to the Durham area Daily in 2022 For anyone moving to Durham, NC, or considering the move, you'll want to be sure to read this article first or contact us directly 12 Things to Know Before Moving to Durham, NC There are so many things to do in Durham a lot of which you will find in this article.
Eyes on Housing
JANUARY 31, 2022
According to the latest Housing Trends Report, home buyers’ affordability expectations deteriorated throughout 2021. By the fourth quarter, the share of buyers who could afford less than half the homes available in their markets was at 76%. That share had risen all year: from 63% in the final quarter of 2020, to 65% in the first quarter of 2021, 71%.
Housing Wire
FEBRUARY 3, 2022
The average 30-year-fixed rate mortgage remained flat for the third consecutive week at 3.55% for the week ending Feb. 3, reflecting the impacts of the Omicron variant in the economy, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.73%. The PMMS report is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
Appraisal Buzz
FEBRUARY 2, 2022
PMG transitions its leadership with addition of 20-plus-year industry veteran Sarah Gonzalez to deepen the firm’s scalability and accelerate growth. The post Panorama Mortgage Taps Sarah Gonzalez as New President and COO appeared first on theMReport.com. The post Panorama Mortgage Taps Sarah Gonzalez as New President and COO appeared first on Appraisal Buzz.
GoForrmz
FEBRUARY 3, 2022
Seamlessly collect and store data with these digital work order template features. Work orders are a critical part of collecting real-time data for your business operations. With paper forms, your team is left with messy, disorganized, and inaccurate forms and fragmented information. By digitizing your work orders, you will not only save time and money but also improve the quality of collected data and elevate your client-facing documents to be more professional and efficient.
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