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The Metaverse is defined as the simulated digital world that mimics the real world through virtual reality and augmented reality in which users can interact. As the Metaverse expands, its offerings now include “virtual” real estate. But what does virtual real estate mean for real-world mortgage professionals? Defining virtual real estate. “Actual” real estate is defined as property consisting of land or buildings, and everything that is permanently attached to the land.
I have two things on my mind today. Scott Peterson’s house hit the market. And price growth has been raging so far in 2022. Let’s talk about this. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm. We’ll talk through choosing comps, making adjustments, and lots of practical scenarios. […].
Today’s Buzzcast interview is with Dave Stevens, CEO of Mountain Lake Consulting and Luke Tomaszewski, CEO of Proxy Pics. We sat down with Dave, Luke, and Joan Trice, Founder of Allterra Group, LLC to discuss the 3,000 foot view on housing finance, what’s happening next in the appraisal industry, and learning more about the future of technology in the appraisal industry.
The messenger. Psychology research easily points out our tendency to dislike the bearer of bad news. It’s also intuitive. Bad news messengers do not smile when they bring the news. Sometimes they even look guilty. We humans can be really basic. We see a correlation between the bad news, the frown, and the messenger. Appraisers […]. The post Bias: Blame the Messenger?
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Nearly 65% of homeowners planning to sell this year expect to list by the end of summer, which should provide a much-needed influx of inventory that should slow the explosive home price growth seen during the pandemic, according to a Realtor.com survey of prospective sellers. Realtor.com Wednesday released the results of the online survey of 3,000 consumers conducted in February by HarrisX.
One Saturday morning, I found myself in front of the computer, punching numbers. While I was sitting there, staring at my screen, willing this task to end, I had a. Read More.
One Saturday morning, I found myself in front of the computer, punching numbers. While I was sitting there, staring at my screen, willing this task to end, I had a. Read More.
The topic of inflation has dominated the news cycle lately. Let’s put aside for the moment the causes of the steadily increasing rate of inflation, and instead take a closer look at what impact it has on housing prices. Let me preface this by saying I don’t have a crystal ball (or a Delorean) so I can’t tell you what the future holds for residential real estate.
According to the latest May 2021 Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $49,070 and the top 25% make at least $75,820. In comparison, the U.S. median wage is $45,760, while the top quartile (top 25%) makes.
Home price appreciation in February climbed 20% over the previous year, marking the 12th month of consecutive double-digit gains , according to figures released Tuesday by real estate analytics firm CoreLogic. Although low inventory continues to drive up prices, CoreLogic ’s forecast suggests home appreciation should finally hit its stride and slow down to about 5% in the coming year , according to a news release from the company. .
Learn to navigate the GoFormz platform, create your first Template, fill out your first digital form, share forms, and more! Whether you’re new to GoFormz or simply need a refresher, check out this quick ‘Getting Started with GoFormz’ webinar to learn how to: Create your first digital form Template Fill out your first digital form in the GoFormz app Explore GoFormz features ‘Beyond the Form’ (like form sharing, reports, and more) …and more!
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.
The Federal Housing Administration is seeking feedback on a proposal that would enable lenders to lengthen the loan term for FHA-backed mortgages in COVID-19-related forbearance plans to 40 years. “Increasing the maximum term limit to 480 months would allow mortgagees to further reduce the borrower’s monthly payment as the outstanding balance would be spread over a longer time frame, providing more borrowers with FHA-insured mortgages the ability to retain their homes after default,” the.
In the fourth quarter of 2021, the market shares of single-family and multifamily home building in rural submarkets, as identified by NAHB’s Home Building Geography Index (HBGI), increased from the fourth quarter of 2020. Evolving market conditions were primarily responsible for the market share gains. Rural areas’ home building market share changes indirectly reflected differing growth rates among all regional.
South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. . Pink slips are arriving to between 165 and 170 operational employees across the country, including professionals in the processing, underwriting and closing areas, multiple company sources told HousingWire. .
I often see discussions on various forums about “is this room a bedroom”, or similar comments. In case you’ve never seen the IBC requirements, I found this on a set of building plans for a new house: IN EVERY SLEEPING ROOM, PROVIDE AN EMERGENCY EXIT WINDOW WITH MIN. HT. OF 24? AND MIN. WIDTH OF 20? AND NOT LESS THAN 5.7 SQ.FT. OF OPENABLE AREA AND NOT MORE THAN 44?
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
Mortgage credit availability decreased in March according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology. The MCAI fell by 0.7% to 125.1 in March. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.
Compared to a year ago, average hourly earnings for residential building workers continue to rise, as the construction labor market remains tight. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers were $28.66 in February 2022, increasing 6% from $27.01 a year ago. This was 16.7% higher than the manufacturing’s average hourly.
It’s a depressing combination. A stunning rise in mortgage rates, historically low levels of inventory , and skyrocketing housing prices are fueling consumer pessimism. Fannie Mae ‘s Home Purchase Sentiment Index, which tracks the housing market and consumer confidence to sell or buy a home, dropped by 2.1 points to 73.2 in March from the previous month.
April breaks over Georgia and the pencil necked geeks hike up their socks and tape up their glasses. It's time to answer the nagging question…did housing inventory in Atlanta increase during the first quarter of 2022? Well that answer is more than a yes/no binary option, context is needed and that’s best done by looking back a bit. The first quarter of any year around Atlanta tends to set up the second one.
On April 6-7, the Five Star Institute held its annual Single-Family Rental Summit at the historic Statler Hotel, deep in the heart of Downtown Dallas. The summit brought together industry executives, agents, and investors for a day full of panels, lectures, and networking on all topics related to single-family rentals and the industries that surround … The post Single-Family Rental Summit Unites Investors, Stakeholders appeared first on DSNews.
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.1% in February after an increase of 1.1% in January. Spending stood at a seasonally adjusted annual rate of $850.6 billion. Total private residential construction spending was 16.6% higher than a year ago. These monthly gains are attributed to the strong growth of spending on.
Interest in residential mortgage loans fell 6.25% for the week ending April 1 as rates jumped yet again , ever nearer to 5%, according to the Mortgage Bankers Association ‘s latest survey. Refinance applications are in a free fall, as few borrowers these days have an incentive to change their current loans rates. Additionally, home price appreciation and insufficient for-sale inventory are holding back purchase activity. .
Safety should always be your priority! As a real estate agent, safety isn’t something that’s discussed nearly enough. However, from every open house showing to every meeting you have, safety should be an important factor. From adequate preparation to communicating effectively with colleagues, there are several ways you can better ensure your safety on the job.
Current CEO Hugh Frater to retire, and will be replaced on an interim basis by President David Benson, while Fannie Mae Board Chair Sheila Bair steps down, and will be replaced by ex-Wells Fargo head Michael Heid. The post Fannie Mae CEO Frater to Retire, Board Chair Bair Resigns appeared first on DSNews. The post Fannie Mae CEO Frater to Retire, Board Chair Bair Resigns appeared first on Appraisal Buzz.
In the past month, total mortgage activity, as measured by the Mortgage Bankers Association’s (MBA) Market Composite Index, underwent a series of weekly declines, decreasing in the latest week by 6.3 percent. The latest week’s survey is for the week ending April 1. The latest week’s activity consisted of a 3.4 percent decrease in purchasing and a 9.9 percent decrease.
Top mortgage lending software and analytics provider Black Knight is exploring a sale following takeover interest from several private equity firms, according to a report from Bloomberg. The Jacksonville, Florida-headquartered firm hasn’t decided whether it would be sold or remain independent, unnamed sources told the financial news publication.
Have you noticed your electric bills are going up and up? No matter what we do to combat rising energy costs, keeping warm in winter and cool in summer gets more expensive every year. That’s why some of our neighbors are “going solar” in a move that could pay dividends down the road. But how do you even begin to consider making the switch? Let’s start with that electric bill and a few other numbers.
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 4.72% with an average 0.8 point for the week ending April 7, 2022, up from last week when it averaged 4.67%. A year ago at this time, the 30-year FRM averaged 3.13%. “Mortgage rates have increased 1.5 percentage points over the last three months alone, the fastest three-month rise since May of 1994,”.
As of April 1, 2022, Fannie Mae now requires appraisers to measure single-family properties in accordance with ANSI Standard Z765-2021. The April 1 implementation date came and went, but appraisal course providers, Fannie Mae, and others are still being inundated with questions from appraisers who still have questions about the standards. In late March, Fannie Mae issued updated ANSI guidance for appraisers, in the form of a five-page downloadable PDF entitled “Standardized Property Measuring Gu
Atlanta-based non-QM wholesale lender Angel Oak Mortgage Solutions has updated its rate lock policy to a 30-day lock period due to the fast-rising interest rates landscape. “Angel Oak, along with the rest of the non-QM industry, has been forced to make rapid adjustments to ensure liquidity during this highly volatile market,” a company spokesperson told HousingWire. .
Elevate Business Intelligence (BI) with effective data management using GoFormz Enterprise businesses are seen as global leaders in their respective industries – paving the way for how future organizations will make more-informed business decisions. Having highly accurate data is seen as a corporate asset, critical for making effective business decisions, and the only way to do this is through powerful data management tools, like GoFormz.
It is no secret that the COVID-19 pandemic affected nearly every facet of the economy and the people that live in it. But the pandemic didn’t affect everyone equally—Americans of color, most notably Black Americans, have been disproportionately affected by the pandemic which exacerbated racial income and wealth inequality among those in that group. Black … The post Black Americans Comprise Just 10% of Owner-Occupied Homes Nationwide appeared first on DSNews.
There’s risk in everything. If we defer to the stats most people wouldn’t drive, fly, invest, gamble, play sports or do pretty much anything beyond sit in the basement wearing a mask, gloves and bicycle helmet waiting for instruction. Most folks look to mitigate risk but it’s a part of daily life. It’s also part of buying a home; successful home buyers embrace risk. "Measured risk” is a good way to summarize how buyers need to think right now as conventional tactics are simply not effective
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