Sacramento Appraisal Blog

FEBRUARY 21, 2023

The housing market is definitely heating up for the spring, but it still feels frozen with so many buyers and sellers sitting right now. I recently talked about sellers sitting out of the market, but today let’s look at buyers. UPCOMING (PUBLIC) SPEAKING GIGS: 3/06/23 Matt the Mortgage Guy YouTube Live 3pm PST 3/09/23 Matt Gouge Event […] The post The housing market is heating up & still frozen first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I can’t provide any specifics but we announced in January strategic plans to create a more focused Home Lending business,” Tom Goyda, senior vice president of consumer lending communications at Wells Fargo, said in an e-mailed response.

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Real Estate News

FEBRUARY 19, 2023

You can fix up a house — but you can't fix the neighbors. Despite the horror stories, there are a few ways to prevent neighbor woes from ruining a sale.

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Inman

FEBRUARY 21, 2023

Even though the extreme seller's market is in the rearview mirror, disgruntled clients have been filing more lawsuits against their agents, according to an analysis by Victor Insurance Managers.

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George Dell

FEBRUARY 22, 2023

To regulate or improve something, you first measure it. The word credible appears in the most recent version of USPAP (©1999) some 276 times. The Uniform Standards of Professional Appraisal Practice as published from time to time by the Appraisal Foundation. The word credibility is used an additional 39 times, specifically as a measure of […] The post Measure Credibility?

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Housing Wire

FEBRUARY 24, 2023

While the homebuilders weren’t surprised by the better-than-estimated new home sales report released Friday, some people were a bit shocked. But the forward-looking purchase application data was getting better from Nov. 9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%. Now, of course, that has all changed quickly. On CNBC Friday morning , I highlighted that whatever data stabilization we had at 5.99%, it’s now gone in the blink of an eye.

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The Appraiser Coach

FEBRUARY 21, 2023

I’ve recently been looking into real estate as an investor, and I found a rental property relatively close to my home that looked pretty promising. It was advertised as a.

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Eyes on Housing

FEBRUARY 21, 2023

An expected impact of the pandemic was a need for more residential space, as people use homes for more purposes including work. During the housing boom after covid, this led to a rise for new single-family home size. However, as the housing market weakens on lower affordability conditions, this trend has reversed. According to fourth quarter 2022 data from the.

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Housing Wire

FEBRUARY 23, 2023

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders. But many may be surprised to learn that title and settlement professionals do so much more than conduct title searches, issue policies and process claims. As an industry, our commitment to protection goes beyond title insurance policies.

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Real Estate News

FEBRUARY 20, 2023

The rental market is massive. Between investor purchases and property management, it can be a lucrative business for brokerages — and a source of buyer leads.

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Inman

FEBRUARY 23, 2023

Watch this week's three new expert-led classes featuring top tips for agents, and what you should know about the latest tech trends

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Eyes on Housing

FEBRUARY 20, 2023

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building gained market share during 2022. There were 44,000 total custom building starts during the fourth quarter of the year. This marks a 10% decline compared to the fourth quarter of 2021 as the overall home building market softened.

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Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. This marks the second consecutive month of increases and the strongest sales pace since March 2022.

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Real Estate News

FEBRUARY 23, 2023

CEO Ryan Schneider said the company will make cost reductions to bring operations in line with the market, as he expects a volatile year in real estate.

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Inman

FEBRUARY 23, 2023

The company attributes the success to "consistent coaching and humanizing of the chatbot," which in the past year increased daily messages by 322 percent and daily lead responses by over 108 percent.

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Eyes on Housing

FEBRUARY 22, 2023

According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the fourth quarter of 2022. For the fourth quarter, 133,000 multifamily residences started construction. For 2022 as whole, 525,000 rental apartments started construction. The market share of rental units of multifamily construction starts increased to almost 98% as the already small condo.

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Housing Wire

FEBRUARY 22, 2023

The mortgage process involves many moving pieces and relationships with a variety of stakeholders. The relationship between a loan officer and a real estate agent is one of the most important pieces of the puzzle, as the two must combine forces to help borrowers achieve their goal of buying a home. Ideally, a strong relationship between an LO and a real estate professional leads to symbiosis and benefits for both sides, as well as for the homebuyer.

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Real Estate News

FEBRUARY 22, 2023

Most agents are hardworking and professional, says broker Phil Faranda. But those who aren't can damage your brand and the industry — and should be terminated.

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Inman

FEBRUARY 24, 2023

ChatGPT is poised to become a truly disruptive technology — if you know how to use it. As she wraps up this three-part series, Bernice Ross talks with Jeff Lobb about specific content marketing use cases for ChatGPT.

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Eyes on Housing

FEBRUARY 24, 2023

Declining mortgage rates and home prices in January, coupled with home builders use of sales incentives, helped boost new home sales last month. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in January at a 670,000 seasonally adjusted annual pace, which is a 7.2% increase over upwardly revised.

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Housing Wire

FEBRUARY 21, 2023

Last June, the Federal Reserve said it wanted a housing reset , which meant it wanted higher mortgage rates to destroy the housing market. This facilitated the biggest decline in existing home sales for a single year that we will ever see in modern-day history due to the high level of sales in January of 2022. Today, the Federal Reserve achieved its primary goal; the days on the market are now above 30 days, which was the most important data line to get housing back to somewhat normal.

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Real Estate News

FEBRUARY 23, 2023

Despite losses on home sales, CEO Carrie Wheeler said the company believes in its value proposition and sees "significant runway" via its Zillow partnership.

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Inman

FEBRUARY 24, 2023

The bank says it has racked up $353 million in severance expenses as it closes branches and pursues a "more focused home lending business.

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Eyes on Housing

FEBRUARY 23, 2023

While the two main confidence indexes for multifamily housing increased slightly in the fourth quarter, they both remain in negative territory, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) increased two points to 34 compared to the previous.

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Housing Wire

FEBRUARY 20, 2023

Another week down in 2023 and we’re seeing crazier action in the housing market as purchase application data fell, mortgage rates rose again, and weekly inventory took another dive with a noticeable move lower in new listing data. Here is a quick rundown from last week : Purchase applications fell 6% weekly as the market digested the first round of higher rates.

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Real Estate News

FEBRUARY 22, 2023

The government announced a plan to cut mortgage insurance rates by 0.3 percentage points, which could save eligible homeowners an average of $800 a year.

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Inman

FEBRUARY 24, 2023

A dip in mortgage rates and a backlog of empty homes helped power sales of newly constructed houses for the second-straight month in January, according to data released Friday by the U.S. Census Bureau.

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Padove Appraisal Service

FEBRUARY 24, 2023

There are several reasons why someone may want to get a real estate appraisal: Buying or selling a property: If you are buying or selling a property, an appraisal can help determine its fair market value, which can be useful in negotiations and setting a listing price. Financing: If you are financing your purchase or refinancing your existing mortgage, your lender may require an appraisal to ensure that the property’s value is sufficient to secure the loan.

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Housing Wire

FEBRUARY 24, 2023

Mortgage delinquencies were down across the board in January, with the overall national delinquency rate declining to 3.38%, a drop of 10 basis points from December, according to Black Knight ’s month-end mortgage performance statistics. National delinquency in January declined 15.1% compared to the same period last year. The number of borrowers 30-days late decreased by 46,000, or 4.8%, from the previous month, while serious delinquencies – which refer to 90-plus days past due – improved again,

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Real Estate News

FEBRUARY 21, 2023

Led by co-presidents OB Jacobi, Jill Jacobi Wood and Geoff Wood, the company continues to grow but strives to retain its family-oriented culture.

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Inman

FEBRUARY 24, 2023

No matter what the market's doing, the way you show up is the biggest factor in determining your outcomes. Jimmy Burgess talks with Gino Blefari, CEO, HomeServices of America and Chairman, Berkshire Hathaway HomeServices, about where we've been, where we are and where we're going next as individuals and as an industry.

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Appraiserblogs

FEBRUARY 21, 2023

Under-valuations that more accurately reflect the homes’ “true” value as opposed to the contract price will also alert the buyer, not just the lender, that he or she may be over-paying, which often triggers a renegotiation… when the seller and buyer settle on a new price after the appraisal, the new lower price reduces credit risk, costs to the borrower, and ultimately results in greater wealth for the buyer.

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Housing Wire

FEBRUARY 22, 2023

Experian announced on Wednesday that lenders can now access its product, Experian Verify, through Freddie Mac ’s Loan Product Advisor asset and income modeler (AIM). The goal, according to the company, is to provide mortgage lenders and borrowers with an efficient and streamlined verification process. “This collaboration will assist lenders with quickly and easily obtaining income and employment verification,” Daniel Miller , single-family director of strategic technology partnerships at Freddi

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Real Estate News

FEBRUARY 21, 2023

Sales of existing homes fell again in January, but the slower rate of declines suggests the market is "bottoming out.

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