Sacramento Appraisal Blog
OCTOBER 10, 2022
The housing market has shifted, and today I have some practical advice for buyers and sellers. This is coming from hundreds of conversations every month as well as stats I'm pulling. Some new memes too. Enjoy if you wish.
Housing Wire
OCTOBER 11, 2022
There’s a showdown at the housing market corral between homebuyers and sellers. (Image by Brandon Johnson/HW Media.). When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event.
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Appraisal Buzz
OCTOBER 10, 2022
The post The Two States of Anxiety for an Appraiser appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 12, 2022
The prices of building materials decreased 0.3% in September (not seasonally adjusted) according to the latest Producer Price Index (PPI) report. The PPI for goods inputs to residential construction, including energy, declined for the third consecutive month in September (-0.1%). Prices have fallen 2.3% since June, the largest three-month drop since April 2020.
Sacramento Appraisal Blog
OCTOBER 10, 2022
We are on the cusp of seeing year-over-year median price declines, so let’s talk about it. I wanted to share what looks to be on the horizon in the Sacramento area, and whether you’re local or not, I hope this is helpful. UPCOMING (PUBLIC) SPEAKING GIGS: 10/11/22 Folsom MLS Meeting (9am) 10/13/22 Market update in […]. The post Home prices are close to dipping below last year first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Housing Wire
OCTOBER 14, 2022
Twitter has become somewhat ubiquitous in today’s social media landscape, with more than 200 million users worldwide. The timeline moves about as quickly as the news does, which is why it can be such a valuable resource for those trying to keep up with current events. Mortgage professionals are no exception – whether you find yourself tweeting for work or in your free time, you may also want to follow accounts for people and organizations that are relevant to the industry in order to stay up-to-
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
George Dell
OCTOBER 12, 2022
Why are so many business segments utilizing Data Science in their business decisions? These business segments include but are not limited to marketing, transportation, telephony, medicine, insurance, finance, entertainment and many others. Editor’s Note: Bruce Hahn, CCIM, CRE, MAI, SRA is kind enough to write another Guest Post for us this week.
The Appraiser Coach
OCTOBER 11, 2022
This might seem counterintuitive, but when your business is growing and you are finding new clients, that’s the best time to start dabbling in a new side hustle apart from. Read More.
Housing Wire
OCTOBER 13, 2022
On Thursday, the Bureau of Labor Statistics (BLS) reported that Consumer Price Index (CPI) inflation came in hotter than expected, and people are scared that the Federal Reserve will now be more aggressive with their rate hikes. Personally, I believe the Fed knows that rental inflation data can lag so at this point of the rate hike cycle, they won’t act in a more aggressive fashion.
Appraisal Buzz
OCTOBER 14, 2022
Attorney Roy Diaz examines the fallout from case of Hunstein v. Preferred Collection & Management Services, regarding whether communication among debt collectors and third-party vendors constitutes a concrete injury for purposes of Article III Standing. The post Clarifying Communication Between Debt Collectors and Third-Party Vendors appeared first on Appraisal Buzz.
Miller Samuel
OCTOBER 10, 2022
I'm a regular listener to the Slate Money podcast so I was thrilled to be invited to participate. This week, Felix Salmon , Emily Peck , and Elizabeth Spiers are joined by housing market analyst and real estate appraiser Jonathan Miller to answer all their burning real estate questions including what’s going on with mortgage rates, how do new luxury buildings affect prices, and why is rent so damn high?
Cleveland Appraisal Blog
OCTOBER 8, 2022
This week I welcome back guest blogger Seth Murphey. In this article, he discusses the advantages of starting a business in Cleveland. I grew up in Denver, Colorado, and moved to Cleveland in 1996. Cleveland is an awesome place to live! I think Seth’s article touches on some of the reasons why. I hope you enjoy his article! Location can make or break a business’s success and is a critical consideration when deciding where to find a company.
Housing Wire
OCTOBER 12, 2022
Black Knight announced the integration of its digital servicing platform and its Surefire CRM, which it says will enhance customer engagement and retention. Servicing Digital , offered as an app or responsive web design, allows customers to easily access their loan- and home-related information, as well as perform self-service capabilities. Surefire is a mortgage-specific marketing automation and content solution that helps mortgage professionals reach new customers and earn repeat business. .
Appraisal Buzz
OCTOBER 14, 2022
According to Jon Giles, Head of Consumer Direct Lending at TD Bank, “Many Americans have more equity in their homes than ever before, and when used responsibly, HELOCs and home equity loans are effective, affordable tools which can assist in paying down higher interest debt or allowing for home renovations, which can add value to the property.” The post Homeowners Using HELOCs to Cut Housing Costs appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 11, 2022
Average hourly earnings for residential building workers* continue to rise in August but at a slower pace. Wage growth has retreated from the highest rate of 2021. The recent housing slowdown indicates that, while labor demand is still high, employers are cautious about hiring amid a slowing economy and rising interest rates. According to the Bureau of Labor Statistics (BLS).
Appraiserblogs
OCTOBER 11, 2022
Loan officers at Wells Fargo altered values in the bank’s database, so loans would qualify for so-called appraisal waivers… It feels like Ground Hog Day all over again. Who can forget the Wells Fargo banker who, stressed from opening fraudulent accounts in the name of hapless depositors, had begun guzzling hand sanitizer? That was in 2016. New revelations from the nation’s second-largest mortgage lender will make the U.S. taxpayer want to take a good long pull on the nearest bottle of hand wash.
Housing Wire
OCTOBER 14, 2022
Equifax will be providing telecommunications and subscription television credit data to the mortgage industry to “streamline the mortgage underwriting process and support loans within the secondary mortgage market,” the credit bureau said Friday. Providing utility payments to mortgage companies alongside traditional credit reports could improve homeownership prospects for more than 190 million consumers, 80% of whom have traditional credit files but may benefit from additional insigh
Appraisal Buzz
OCTOBER 14, 2022
In the aftermath of Hurricane Ian, homeowners in four additional counties are eligible to apply for federal disaster assistance. The post Update: More Florida Counties Eligible for FEMA Aid appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 13, 2022
Consumer prices eased in September for the third-straight month as declines in energy prices partly offset increases in food and shelter indexes. Despite this slight improvement, inflation remains above an 8% year-over-year rate for the seven straight month. The food and shelter indexes continued to rise at an accelerated pace, with the owners’ equivalent rent index seeing the largest monthly.
GoForrmz
OCTOBER 12, 2022
Discover why thousands of businesses rely on the GoFormz platform for documentation and data capture We at GoFormz know that not all form solutions are created equal. Sure, when looking for a digital forms solution there are many options to choose from – but only a handful of providers can actually provide your team with the features they need to succeed.
Housing Wire
OCTOBER 14, 2022
JPMorgan Chase and Wells Fargo & Co., two of the nation’s largest banks, each faced a double-digit decline in their mortgage origination volumes in the third quarter of 2022. And the coming days don’t look any kinder: the banks’ top executives said on Friday the landscape remains challenging due to macroeconomic and geopolitical issues.
Appraisal Buzz
OCTOBER 13, 2022
With talk of a recession on the horizon, ATTOM’s latest data breaks down foreclosure rates and related data, as well as how they are being impacted by larger economic factors. The post Q3 Foreclosure Rates ‘Reflecting Other Aspects of the Economy’ appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 12, 2022
Per the Mortgage Bankers Association’s (MBA) survey through the week ending October 7th, total mortgage activity declined 2.0% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose six basis points to 6.81%. The FRM has risen 80 basis points over the past month, reaching its highest level since 2006. The Market Composite Index, a measure of.
Appraiserblogs
OCTOBER 12, 2022
The government wants to move to a fully automated appraisal format, and the more that they can dirty the narrative in their favor, the quicker they get to their objective… This just in: In a recent memo, the CFPB wants you to know that if you are buying a home, that you can contest your appraisal. By the way, anyone at any time can contest an appraisal for any reason.
Housing Wire
OCTOBER 14, 2022
The Mortgage Bankers Association and fellow trade group the Black Homeownership Collaborative have joined the chorus of voices imploring HUD Secretary Marcia Fudge to reduce mortgage insurance premiums (MIPs) and suspend life-of-loan requirements for borrowers with FHA-insured loans. The trade groups last week sent a letter to Fudge noting that since the start of the pandemic, the cost of buying a home has skyrocketed.
Appraisal Buzz
OCTOBER 13, 2022
The share of first-time homebuyers rose in August, posting a strong year-over-year gain that brought market share up to pre-pandemic levels. The post First-Time Buyers Giving Housing Market a Boost appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 13, 2022
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter of 2022 posted a reading of 77, declining 10 points from the third quarter of 2021. The RMI is based on a survey that asks remodelers to rate various aspects of the residential remodeling market “good,” “fair” or “poor.” Responses from each question are converted to an index that.
Boston Appraisal
OCTOBER 8, 2022
In recent years, it has become common for lenders to obtain hybrid appraisals. While appraisers provide an essential service through their reports, this work comes at high costs to the buyer or borrower. This cost can be measured in terms of dollars spent on an appraisal or the time required to produce a full appraisal report. As a result, delays in the lending or mortgage process are not uncommon; more recently, there have been attempts to mitigate this problem.
Housing Wire
OCTOBER 12, 2022
The forecast for the housing market in 2023 gets worse by the month, with the latest report predicting a million-plus decline in existing home sales. Fannie Mae ‘s Economic and Strategic Research (ESR) Group now forecasts total single-family home sales to decline 18.1% to 5.64 million units this year from 2021, a further downward revision from September’s projected 17.2% drop.
Appraisal Buzz
OCTOBER 12, 2022
Reporting data for August 2022, S&P and Experian found defaults for first-lien mortgages held steady for the second month in a row. Click through to learn the details. The post A Look at First-Lien Mortgage Defaults appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 14, 2022
Of the roughly 1.1 million single-family homes started in 2021, 63.4 percent came with porches, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial funding from the Department of Housing and Urban Development). This marks the first time the share of single-family homes with porches has dipped below 64 percent since 2015. .
Appraiserblogs
OCTOBER 14, 2022
The results of the NAR appraisal survey show more than half of appraisers reported AMCs to be the greatest challenge in their business with 40% reporting not being compensated fairly. Only 3% of members witnessed or experienced discrimination in an appraisal… NAR Research conducted a survey of all 9,700 appraiser members and 50,000 randomly-selected non-appraiser members to determine the level of impact of appraisals on the current market and member business in terms of cost, turn-around times,
Housing Wire
OCTOBER 14, 2022
The Office of the Comptroller of the Currency , the Consumer Financial Protection Bureau , the Federal Reserve Board on Thursday announced that the 2023 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will jump to $31,000 from $28,500. The threshold amount will be effective Jan. 1, 2023, and is based on the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers as of June 1.
Appraisal Buzz
OCTOBER 12, 2022
According to RentCafe’s latest market trend report, renting has reached its highest peak in over 50 years, as renters surpass homeowners in 41% of ZIP codes in the 50 largest U.S. cities analyzed. The post Examining ZIP Codes With Fastest-Growing Renter Populations appeared first on Appraisal Buzz.
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