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Hello dear reader! I’m so sorry for the weeks I missed posting articles last month. There was a death in my family which has been difficult to work thru. While I get things going again, I have a returning guest blogger for this week and next week. This week, Betty White shares some things that can decrease property value. As a certified residential appraiser, I can tell you that while some of the things noted in this report can decrease value, they may not, so take these points with a grai
On Tuesday, the Consumer Price Index (CPI) data came in cooler than expected , and the bond market loved it, driving mortgage rates lower. Where do we go from here? Headline inflation is still very elevated historically, but the trend can be our friend over the next 12 months. I say this because the most significant component of Core CPI is shelter inflation.
Imagine you’re at an inspection. During your standard walk-through, you look out the window and see a car pull up into the driveway. Your mind starts racing when you see. Read More.
How much have home prices gone down? That’s the big question right now, so let’s talk about it. But I want to highlight a pressing issue that’s been coming up about the stats. I hope this is helpful, whether you’re local or not. UPCOMING (PUBLIC) SPEAKING GIGS: 1/18/23 WCR Market Update in Cameron Park (register […]. The post How much have home prices gone down?
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.
Reflecting the unprecedented housing shortages across the United States in the post-pandemic market, U.S. vacancy rates hit their lowest readings in decades in 2021. According to NAHB’s analysis of the 2021 American Community Survey (ACS), owner vacancy rates dropped below 0.9% and rental vacancy rates reached a new low of 5.2%, the lowest levels recorded by the ACS since the.
The Federal Housing Administration (FHA) issued clarification on Thursday regarding the extent in which employees in single-family housing transactions are allowed to play dual roles — and how much they are allowed to be compensated from a single FHA-insured transaction. The clarification, issued in a Mortgagee Letter by FHA Commissioner Julia Gordon, notes that participants who have “a direct impact on the mortgage approval decision are prohibited from having multiple roles or sources of
The Federal Housing Administration (FHA) issued clarification on Thursday regarding the extent in which employees in single-family housing transactions are allowed to play dual roles — and how much they are allowed to be compensated from a single FHA-insured transaction. The clarification, issued in a Mortgagee Letter by FHA Commissioner Julia Gordon, notes that participants who have “a direct impact on the mortgage approval decision are prohibited from having multiple roles or sources of
How many comps should I use? What do “authorities” say? Historical appraisal practice, as passed on from trainer to trainee, in the outdated master/apprentice model that imposed strong inviolable dictates. For residential forms, the magic number was three, sometimes up to five or six. Three and a subject column fit perfectly on a 8 1/2 […].
GoFormz dominates a competitive market in the Mobile Forms Automation Category – from Best Support to Easiest to Use Here at GoFormz, we are honored to have won 26 awards in G2’s Winter 2023 reports and remain the sole leading provider of mobile forms automation solutions for the second straight quarter. G2 continues to be the world’s dominating peer-to-peer review platform which buyers, investors, analysts, and business professionals utilize to compare and select the best software solutions bas
Real estate taxes vary widely across states both in terms of annual taxes paid as well as effective tax rates. In 2021, the difference between average real estate taxes (RETs) paid by New Jersey and Alabama home owners was $8,336. New Jersey continued its perennial distinction as having the highest average real estate tax bill per home owner ($9,151) as.
This article is part of our Housing 2022-23 forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.
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 past couple of years have been crazy! We have seen a combination of few homes offered for sale, and strong buyer demand. Buyers have had difficulty finding a home to purchase at any price. The result has been rising home prices. Recent increases in mortgage rates have reduced some demand. The higher cost of financing a home pushed some buyers out of the market.
What to do When Your Property Tax Assessment Seems Too High. In early January each year, every home in British Columbia receives its property tax assessment notice through the mail from BC Assessment. Some property owners may be surprised and possibly even concerned with their home property assessment amount. Between 2021 and 2022, house prices in BC rose by an average of 23.3% with the increase even steeper in Victoria.
Consumer prices in November saw the smallest year-over-year gain since December 2021.While still elevated, inflation experienced the second month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and was more than offsetting decreases in energy indexes. Shelter inflation will primarily be cooled in the future via additional housing.
For most real estate industry professionals, title insurance needs no introduction. A trusted product , title insurance has been used to protect real estate transactions and property rights for over a century. However, most Americans don’t learn about title insurance until they buy their first home and amid the often stressful, frenetic activity of the closing process, homebuyers can be confused about many of the settlement costs and why they need to purchase a title insurance policy.
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.
This new measuring technology claims the software to be ANSI compliant. Appraisers, over the past couple of years, there have been lively discussions on forums, Facebook groups, at conferences, etc., about a ‘new’ technology which allows a ‘phone holder’ to measure a structure, with that technology providing a “Sketch” or “Floor Plan” of that structure.
These charts present an accurate depiction of the Larkspur, California housing market using data from the local MLS (BAREIS MLS). This data offers a comprehensive view of the true market trends in the area. These charts are refreshed monthly and each includes a full year of information. * Bookmark this page if you want to keep up with the trends in the Larkspur housing market. *.
Per the Mortgage Bankers Association’s (MBA) survey through the week ending December 9th, total mortgage activity increased 3.2% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose one basis points to 6.42%. The FRM rate has fallen 48 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose.
On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . Growing concerns of a recession, led by the Federal Reserve ’s continued interest rate hikes next year, will prompt mortgage rates to trend lower in 2023, according to numerous experts.
U.S. Is Running Short of Land for Housing. Source: U.S. Is Running Short of Land for Housing | Florida Realtors. Land-use restrictions, lack of public infrastructure investment and rising land prices contribute to the issue. Land accounts for about 47% of U.S. home values. NEW YORK – Land suitable for housing is increasingly scarce in the United States due to land-use restrictions and a dearth of public infrastructure investment.
If you’re looking to lease commercial space, it’s helpful to have reasons to negotiate. Negotiating a commercial lease is the most important aspect of renting commercial real estate for lease. There is no “standard” commercial lease agreement. A commercial lease can be customized by both parties. Landlords typically provide their own leases to prospective tenants of their commercial real estate for lease.
Downshifting its pace of tightening of monetary policy, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 50 basis points, increasing that target to an upper bound of 4.5%. This marked a relatively smaller increase after four previous 75 basis point hikes. The Fed has clearly communicated it will continue to tighten monetary policy however, raising.
After the booming volume of the last two years, this year has been more difficult than many expected. Production has dropped significantly, and many lender shops are focused on recruiting more loan officers to help make up the difference. . “As a company, we’ve had to really right-size our teams to make sure that we’re keeping our costs in line with the reduced production that we’re seeing,” said Courtney Graham , chief marketing officer and chief people officer at Princeton Mortgage.
The following charts provide a comprehensive view of the San Anselmo, California housing market, using data from the local MLS (BAREIS MLS). These charts are updated monthly and include a full year’s worth of data. * Bookmark this page if you want to keep up with the trends in the San Anselmo housing market. *. If you are a homeowner in San Anselmo or are considering buying a property there, these charts should be a valuable resource.
Best Practices for Your End-of-Year Data Like most companies around this time of year, yours is probably thinking about what worked, what didn’t work, and what could be improved for next year. For the past twelve months, you’ve gathered heaps of information on your business – everything from inventory to overtime hours. While this data has helped you navigate through the year, it can also chart your way to next year’s success.
Over the first ten months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 865,815. On a year-over-year (YoY) basis, this is 8.7% below the October 2021 level of 948,321. Year-to-date ending in October, single-family permits declined in all four regions. The South posted a modest decline of 6.8%, while the Midwest and the West regions.
The National Association of Realtors predicts there will be 4.78 million existing home sales in 2023, down 6.8% from the 5.13 million existing home sales expected to close in 2022. Lawrence Yun, the trade organization’s chief economist, announced this prediction on Tuesday during NAR’s fourth annual year-end Real Estate Forecast Summit. The 5.13 million existing homes sold in 2022 already represent a 16% year-over-year decrease and the lowest number of existing home sales since 2014.
Back in March and again in August, I noted that “We are undoubtedly reaching the limits of affordability for Americans,” which should “cool the real estate market” and likely “cause a correction” but […].
eSignatures are an important part of growing your business Running the day-to-day operations of any business is a full-time job, but one of the most difficult challenges is finding the right tools to make your business run smoothly and set you up for future success. In an ideal world, everything in your business runs without disruption; no paperwork is ever lost, no data is ever incorrect, and every signature is legally binding and captured quickly.
According to data from the Census Bureau’s Survey of Construction (SOC), 65.5 percent of single-family homes started in 2021 were built within a community or homeowner’s association. Since the re-design of the SOC in 2009, this was the second highest percentage for new homes started with an association. The Census Bureau defines community or homeowner’s associations as “formal legal entities.
Figure Acquisition Corp. I , a blank check company affiliated with fintech Figure Technologies , plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution. The special purpose acquisition company announced Friday that it signed a non-binding letter of intent with the privately held $3-5 billion asset holding company with nationwide residential mortgage lending and servicing operations.
Here are some weird but important facts. My friend and marketing expert, Perry Marshall, pointed this out: What do these buildings share in common? They’ve all been the world’s tallest […].
Marjorie McCue has officially qualified for the 2022 President’s Club by surpassing $16,000,000 in sales volume and closing on 33 transactions this year. This is Marjorie’s first time reaching this impressive milestone and we couldn’t be happier for her! Marjorie has been helping her clients buy and sell for years, providing excellent and reliable service.
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