Housing Wire

OCTOBER 31, 2022

The Federal Reserve will hold another meeting this week, where everyone assumes we will get another 75 bps rate hike. The question is: how many more rate hikes are left? And, once they’re done hiking rates, will the Fed need to keep rates high because the consumer balance sheet looks so good? Over the weekend, The Wall Street Journal brought up this point — that the Fed is mindful that household balance sheets are much better now due to the excess savings built up during the COVID recovery and t

Law 520

Law Inventory Lending Mortgage 520

Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. I have seen a slowdown in my lending work also. So what can we do? Half my work is non-lending work, and that’s been a blessing. Mortgage lending work is only one type of business where appraisals are needed.

Business 393

Business Appraisal Real Estate Agent Lending 393

The Appraiser Coach

NOVEMBER 1, 2022

Language is important. We often get so caught up in the moment, so laser-focused on how we feel about something, that we become casual in the verbiage that we use. Read More.

Advertising 370

Advertising Inspection Business Government 370

Appraisal Buzz

OCTOBER 31, 2022

This article was originally written on foxyai.com and can be found here. Halloween is here and has already taken over! With finding costumes, trick-or-treating, and haunted houses galore, why not join in on all of the fun? Take a picture of your house and make it the ultimate Halloween dream when you upload your picture here. With FoxyAI, you can upload a picture of your home and have it spookified!

Training 321

Training Development Design Tools 321

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

Construction

Housing Wire

NOVEMBER 4, 2022

On Friday, the Bureau of Labor Statistics reported that 261,000 jobs were created and we had 29,000 positive revisions to prior reports. This means the honey badger labor market will keep the Federal Reserve from pivoting anytime soon. . This has been a theme of mine lately. Since all my six recession red flags are up, the only data lines that I am focusing on regarding the cylce of economic expansion to recession are job openings and jobless claims data.

Marketing 490

Marketing Construction Mortgage Housing Market 490

Eyes on Housing

NOVEMBER 1, 2022

Higher interest rates are pricing out some (not all) buyers, but also transforming remaining prospects into active buyers. In the third quarter of 2022, 59% of prospective buyers had moved beyond the planning phase and become fully engaged in the buying process, up from 46% in the first quarter and 49% in the second quarter of the year. The share.

Buyers 196

Buyers 196

George Dell

NOVEMBER 2, 2022

Statistical methods have been long touted in established appraisal education. Yet they seem to remain mystical and remotely related to what we actually see in appraisal reports. What happened? I was an early proponent of more numerical methods as opposed to judgment opinion methods. It seemed to me that adjustments taken off adjustment sheets seemed […].

Appraisal 39

Appraisal 39

Housing Wire

NOVEMBER 1, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. These borrowers are hoping that rates will decline enough in the next few years that a refinance will bring their payments down permanently. Options for borrowers include temporary rate buydowns and down payment assistance programs.

Loan Officers 468

Loan Officers Sellers Clients Buyers 468

Appraisal Buzz

OCTOBER 31, 2022

In response to the additional stress on their balance sheets, some mortgage industry firms have announced layoffs, ceased specific products, or shuttered all together. The post Industry Survey: Personnel Costs Driving Up Mortgage Overhead appeared first on Appraisal Buzz.

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Mortgage Appraisal 195

Advertiser: Trellis

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.

Real Estate

Eyes on Housing

NOVEMBER 4, 2022

Job growth slowed in October as the Fed continues its tightening of financial conditions to fight inflation, but the overall labor market remains tight. The unemployment rate increased by 0.2 percentage points to 3.7% in October as the number of persons in the labor force decreased for the second straight month.

Marketing 179

Marketing Construction 179

GoForrmz

NOVEMBER 1, 2022

How to find GoFormz at GroundBreak 2022 We are so excited to be attending Groundbreak in New Orleans, this November 7-9, 2022! Before you gear up for the event, we want to help you find GoFormz this year. With 120+ vendors and sessions, planning is a must for a successful Groundbreak experience. We’re dedicating our time at Groundbreak to share how our GoFormz-Procore integration can improve and automate your everyday tasks.

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Technology Construction 146

Housing Wire

NOVEMBER 1, 2022

Last year, Rocket Mortgage , America’s top mortgage lender, benefited greatly from record low mortgage rates — racking up more than double the refi volume of any lender. . But with rates rapidly climbing past the 7% level, the Detroit-based lender is now in a tough spot as it attempts to pivot to purchase mortgages and persuade its customers to get cash-out refis – all while trying to cut costs through voluntary buyouts and attrition, the Wall Street Journal reported in a deep dive published Tue

Real Estate Agent 451

Real Estate Agent Marketing Real Estate Clients 451

Appraisal Buzz

OCTOBER 31, 2022

As many would-be home sellers are holding onto their existing homes, properties are now staying on the market longer according to the latest Zillow analysis, leaving sellers to try and draw in homebuyers with attractive listings and price drops. The post Slowdown in Supply and Demand Force Sellers to Improvise appeared first on Appraisal Buzz.

Sellers 195

Sellers Appraisal Marketing 195

Eyes on Housing

OCTOBER 31, 2022

Prospective buyers in the third quarter of 2022 are more likely to have higher levels of income and education than earlier in the year. This helps explain why affordability expectations have improved. In the third quarter of 2022, 69% of buyers could only afford a minority of homes for sale in their markets, a much lower share than in the.

Buyers 173

Buyers Marketing 173

DW Slater Company

OCTOBER 31, 2022

Happy Halloween! We wish you a safe and enjoyable Halloween. Enjoy these scary prior posts, just in time for Halloween! The Wylie Ax Murder House- Does Murder Impact the Value of Real Estate? HAUNTED HOUSES, HAUNTED REAL ESTATE. Haunted House Adjustments. 5 Scary Movies That Describe An Appraiser’s Job. The post Happy Halloween! appeared first on DW Slater Company Blog.

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Real Estate Appraisal 133

Housing Wire

NOVEMBER 3, 2022

Retail lender and servicer Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production. “In the face of market volatility and economic uncertainty, Mr. Cooper Group has taken a disciplined and proactive step to scale back the Originations business, including the elimination of approximately 800 positions,” the company said in a statement. “By aligning our originations operations to the s

Loan Officers 444

Loan Officers Retail Business Investing 444

Appraisal Buzz

OCTOBER 31, 2022

Surging mortgage rates and persistently high home prices are motivating many of the buyers who remain in the market to relocate to more affordable areas, but migration may slow as the economy continues to soften, according to a Redfin analysis. Nearly one-quarter (24.2%) of homebuyers nationwide looked to move to a different metro area in the third quarter, a record high.

Buyers 195

Buyers Appraisal Mortgage Marketing 195

Eyes on Housing

NOVEMBER 2, 2022

An earlier post revealed that a record 70% of buyers who were actively engaged in the process of finding a home in the third quarter of 2022 have spent 3+ months searching for a home without success. Those buyers also have higher incomes and education levels than in previous quarters. The most common reason these long-term searchers cite for not.

Buyers 169

Buyers 169

Appraiserblogs

OCTOBER 31, 2022

What’s even more frustrating to me is none of the well-known appraiser organizations have offered any public rebuttal to any of these hit pieces, or explained how the appraisal process works as a way to defend appraisers… Census Tract data delineating RACE of the population is the only ammunition the people doing these hit pieces can use to attack appraisers.

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Appraisal Appraisal Process Marketing Contracts 113

Housing Wire

NOVEMBER 2, 2022

Amid a surprisingly strong U.S. economic performance and persistent inflation, the Federal Reserve on Wednesday raised the federal funds rate by another 75 basis points, to 3.75%-4%, launching it to the highest level since December 2007. The decision, expected by most Fed observers and the financial markets, is intended to further slow down the housing market.

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Housing Market Mortgage Marketing Investors 439

Appraisal Buzz

OCTOBER 31, 2022

Attorney Joel Jensen discusses a recent proceeding involving violations of a bankruptcy rule. Learn the latest and how it could impact the industry. The post Bankruptcy Court Weighs in on Case Involving Collections and Past Debts appeared first on Appraisal Buzz.

Appraisal 150

Appraisal 150

Eyes on Housing

NOVEMBER 2, 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 4%. This marks the fourth consecutive meeting with an increase of 75 basis points and pushes the fed funds rate to a 15-year.

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Kairos Appraisal Services

NOVEMBER 3, 2022

The ACE+ Property Data Report is a new component that could allow borrowers on Freddie Mac–eligible loans to avoid a full appraisal inspection on purchases or cash-out or rate-term refinances. Instead, property information is collected on-site by a real estate agent, inspector, or data collector using Freddie Mac’s proprietary PDR data sets. When the ACE+… The post The Risks and Rewards of ACE+ PDRs appeared first on Kairos.

Real Estate Agent 105

Real Estate Agent Inspection Real Estate Agents 105

Housing Wire

NOVEMBER 4, 2022

United Wholesale Mortgage (UWM) is now the biggest mortgage lender in America, thanks in large part to a cut-rate pricing strategy that has put extreme pressure on competitors. UWM originated $33.5 billion in the third quarter, toppling its arch rival Rocket Mortgage ‘s $25.6 billion in production. Purchase loans accounted for 82.7% of UWM’s mix in the third quarter.

Loan Officers 87

Loan Officers Retail Investing Mortgage 87

Appraisal Buzz

OCTOBER 31, 2022

Estimates of the number of missing homes vary widely, but one thing has become clear: While the housing supply shortage is a national problem, solving it is often a local one. In a new report, Fannie Mae economists Kim Betancourt, Stephen Gardner and Mark Palim examine the contours of housing supply for 75 major U.S. metropolitan markets in a way that might offer clues to addressing the housing supply crisis at the local level.

Appraisal 150

Appraisal Marketing 150

Eyes on Housing

NOVEMBER 2, 2022

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 66% in the third quarter of 2022, which is statistically unchanged from the last quarter reading (65.8%). It is 0.6 percentage points higher than the rate in the third quarter of 2021. The national rental vacancy rate rose to 6%, while the homeowner vacancy rate inched up.

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Appraiserblogs

NOVEMBER 2, 2022

Racket at Attorneys General Group Will Ring Familiar to Appraisers The nation’s licensed real property appraisers will recognize a scheme run by a nonprofit known as the National Association of Attorneys General. It will remind the former of the abuses visited on them by a tiny, free-spending 501(c)(3) publisher and its captured federal minder. The National Association of Attorneys General describes itself as a nonpartisan national forum for America’s state and territory attorneys general and th

Business 99

Business Property Appraisal Law Real Property 99

Housing Wire

NOVEMBER 2, 2022

Despite new language in the Federal Open Market Committee statement that suggested a potential slowdown in curbing inflation, Federal Reserve Chairman Jerome Powell maintained a hawkish tone on raising the federal funds rates during Wednesday’s press conference. And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year.

Mortgage 419

Mortgage Sellers Contracts Buyers 419

Appraisal Buzz

OCTOBER 31, 2022

The housing market is rebalancing after the most competitive and frenetic period in recent memory. While homes that sell are still doing so relatively quickly – slower than at the height of last year’s frenzy, but more quickly than pre-pandemic norms – a new Zillow analysis finds other homes are lingering on the market much longer, pointing to the need for sellers to build an attractive and competitively priced listing to attract a buyer.

Housing Market 150

Housing Market Marketing Sellers Buyers 150

Eyes on Housing

NOVEMBER 1, 2022

The count of open, unfilled jobs for the overall economy increased in September, rising from 10.3 million open positions to 10.71 million. This represents a small increase from a year ago (10.67 million). This increase occurs despite signs of a slowing economy amidst aggressive monetary policy tightening by the Fed. The hotter than expected labor market data pushed the 10-year.

Construction 160

Construction Marketing 160

Valcre

NOVEMBER 2, 2022

The 2022 commercial real estate market is shifting and pivoting as a result of the pandemic.

Real Estate 83

Real Estate Appraisal Marketing 83

Housing Wire

NOVEMBER 2, 2022

Borrowers’ demand for mortgage loans declined at a slower pace last week when mortgage rates dropped slightly ahead of the Federal Reserve ’s (Fed) meeting to announce the new target for the federal funds rate. According to the latest survey from the Mortgage Bankers Association (MBA), the mortgage composite index for the week ending Oct. 28 fell 0.5% from the prior week and 68% compared to the same period in 2021.

Mortgage 413

Mortgage Retail Contracts Housing Market 413