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The average mortgage rate for a 30-year fixed loan rose 5 basis points last week to 3.02%, marking the first time since July that the industry has seen rates break above 3%, according to Freddie Mac ’s Primary Mortgage Market Survey. Since reaching a low point in January, mortgage rates have risen by more than 30 basis points as the economy works to recover, and according to Sam Khater, Freddie Mac’s chief economist, the impact on purchase demand has been noticeable.
As a real estate appraisal provider, it can be hard to get into the home owner’s perspective. It seems that what is important to them may not directly translate into. Read More.
How about “loan conditions”? Clients only need a value in order to quantify risk. Is this scary? Editor’s Note: This post is an intersection of Modernization and Risk. There are only three uses for knowing value: 1) collateral loss, 2) investment gain, 3) equitability. Historical value may only be relevant to #3. Loss or gain […]. The post How About Loan Conditions?
Like most aspects of an appraisal, things seem easy. That is, until one takes a closer look. Age is a good example. It seems logical to think that a newer home is more valuable than an older home. However, that’s not always the case. Last week, a real estate agent asked me about how appraisers adjust for age. So, I thought this would be a good topic to discuss.
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.
Mortgage applications recovered slightly from last week , increasing 0.5% for the week ending Feb. 26, 2021 according to the latest report from the Mortgage Bankers Association. A giant dip in applications was reported following the devastating winter storms in Texas the week of Feb. 8, but a week of normalized weather brought numbers back up, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting.
I enjoy many aspects of my career as a residential real estate appraiser. I’m self employed so I have no one to blame but myself; I set my own hours; I get to see a lot of places in the region; I spend much of my time trying to find meaning in data then communicating […].
I enjoy many aspects of my career as a residential real estate appraiser. I’m self employed so I have no one to blame but myself; I set my own hours; I get to see a lot of places in the region; I spend much of my time trying to find meaning in data then communicating […].
Is the appraisal industry doomed? For years we’ve been told “The end is near” for the appraisal industry. We know this isn’t true! We can’t help but wonder why naysayers continue to shout this headline! Appraisal Buzz hosted DataMaster appraisers Jared Preisler, SRA, and Keven Ewell recently to address this threatened “impending doom.” Join Jared and Keven and hear their thoughts and experiences with the appraisal industry.
Could we all be living in an episode of The Jetsons someday? Mixed-use development in 2021 may not resemble Orbit City, but commercial builders, architects, and real estate investors are undoubtedly re-engineering the proximity of your personal and professional orbit. Flying cars would be awesome; however, we hope there isn’t a need for tall structures to rise above the smog!
United Wholesale Mortgage , the top wholesale lender in the nation, announced on a Facebook live Thursday that it will no longer partner with brokers who also work with Rocket Mortgage and Fairway Independent Mortgage Corp. Mat Ishbia, president and CEO of UWM, gave brokers and owners a deadline of March 15 to sign an addendum saying they are not working with those two lenders.
Per-acre farm values in Canada have been rising more slowly than residential home prices (about 5% in 2019 vs 2018), but, like residential properties, values are largely dependent on regional locations and southern Ontario values can be as much as 35% higher than the provincial average. With as much of 75% of Canadians’ wealth tied […].
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.
Pilot Point, TX in the Texas Winter Storm. We have been publishing this monthly newsletter since 2016. We apologize as we did not get last month’s newsletter out as we were hit with unexpected challenges related to the Texas Winter Storm that impacted our entire state as well as other parts of the US. Fireplace cooking. We, like many, others were without power while temperatures plunged as low as minus 6 degrees in our area.
If you already own commercial real estate, you know that property taxes are one of the more burdensome bills to pay. It’s likely the largest expense for commercial real estate owners, and yet they pay it year after year without any contest. But property taxes are not set in stone. In fact, your property tax bills can be negotiated to ensure you’re paying your fair share.
Logan Mohtashami HousingWire Lead Analyst. When economic data that is typically sticky has a waterfall dive followed by a quick parabolic recovery, forecasting a trend can be tricky. The MBA purchase application data changed during our year of COVID-19. In a typical, non-pandemic year, the bulk of the volume of purchase applications occurs in the heat months for housing, those being the second week of January to the first week of May.
“One of the best courses that I have had in 17 years!” -Amy H >> OREP E&O ????? “They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Editor’s Note: Take the NEW 2021 Appraiser Fee Survey online now at WorkingRE.com/2021survey. Dealing with a Subpoena by Isaac Peck, Editor As an appraiser, you don’t have […].
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.
As an experienced appraiser, you’ve likely encountered pressure to hit the purchase price or develop your appraisal based on a predetermined value. This, of course, is unethical. So what do you do when you’re asked to hit a certain value? Or when the purchase price is not supported by the available comps? Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, N
Will the same states that do this for appraisers also mandate similar Fair Housing and Fair Lending courses for lenders, loan officers, mortgage bankers… Are you aware that US States are beginning to ‘require’ appraisers take required courses in how to treat people fairly, by requiring such a class for every license renewal period??
Tension between long-time rivals United Wholesale Mortgage and Rocket Pro TPO , formerly Quicken Loans Mortgage Services , reached a new boiling point after the top wholesale lender in the nation announced it will no longer work with brokers who also work with Rocket Mortgage. Mat Ishbia, president and CEO of UWM, gave brokers and owners just over a week to sign an addendum saying they are not working with Rocket Pro TPO.
In 2002, when Dara Alperen Cipollone purchased her first home in East Boston, her real estate agent suggested she would be a great fit for residential sales. With a BS in Healthcare Systems Management from University of Connecticut’s School of Business and several years of experience dedicated to standardizing healthcare information, Dara took a leap to real estate.
Is the appraisal industry doomed? For years we’ve been told “The end is near” for the appraisal industry. We know this isn’t true! We can’t help but wonder why naysayers continue to shout this headline! Appraisal Buzz hosted DataMaster appraisers Jared Preisler, SRA, and Keven Ewell recently to address this threatened “impending doom.” Join Jared and Keven and hear their thoughts and experiences with the appraisal industry.
Spring is one of the most popular selling seasons – and it’s right around the corner. Are you preparing to sell your house? You don’t just want to sell it as is. You want to make a few preparations to attract the most potential buyers. Here are a few things you should consider to ensure your home sells fast and you get the best deal! More for Real Estate Enthusiasts. 5 reasons to refinance your mortgage right now.
Tenants may come to you and tell you they have an emotional support animal. It could be as normal as a dog—or as strange as a peacock. Here's what emotional support animal laws say you can and can't enforce when it comes to your pet policy.
If speed is an important factor for your next commercial property transaction, then you need a property appraiser that works fast. But even the most efficient appraisal firms can’t do their jobs if clients don’t provide the information they need. Lack of communication can significantly slow down the commercial real estate appraisal process. You as the investor or borrower need to do your part to speed things up.
Is the appraisal industry doomed? For years we’ve been told “The end is near” for the appraisal industry. We know this isn’t true! We can’t help but wonder why naysayers continue to shout this headline! Appraisal Buzz hosted DataMaster appraisers Jared Preisler, SRA, and Keven Ewell recently to address this threatened “impending doom.” Join Jared and Keven and hear their thoughts and experiences with the appraisal industry.
Rocket Companies Chairman Dan Gilbert may want to gift some karma to users of the infamous subreddit Wall Street Bets. His company’s stock soared nearly 100% on Tuesday after the day traders at the subreddit took interest in the mortgage lender’s stock , which had been hovering around the $20 mark for much of the past three months. Nearly 40% of the company’s available shares are sold short, according to Market Beat, and it’s one of the most shorted companies by hedge fun
Making an offer on a home can feel like it’s happening so quickly that you hardly have any time to think. Take a moment to make sure that you (and […].
This post is part three of a 12-part series we recently launched called The Loan Officer’s Guide to Appraisals. In case you missed part one on the Final Inspection process, go back and read it here. And last time, we discussed all kinds of unique homes, and gave tips on how to make lending on […]. The post Loan Officer’s Guide to Appraisals Part 3: Communication With The Appraiser appeared first on Riverfront Appraisals.
> E&O/GL Insurance for Home Inspectors Competitive Rates, Broad Coverage, Free Risk Management, online inspection support for tough questions, discounts on education and more. Professional Coverage, Competitive Pricing Shop OREP today! >> Editor’s Note: To help you stay up-to-date and connected, OREP/Working RE has established a Coronavirus (COVID-19) Discussion and Resource Page where you […].
After one month of steady declines, servicers’ forbearance portfolio volume rose one basis point last week to 5.23%, according to data released Monday by the Mortgage Bankers Association. The trade group pointed to a slowdown in exits coupled with an uptick in requests for last week’s increase. Once again, Fannie Mae and Freddie Mac boasted the smallest forbearance share with servicers’ portfolios remaining unchanged from the week prior at 2.97%.
Ready to get started in commercial real estate? Follow these 7 pillars of success to develop a strategy, understand the market, and increase your cash flow.
This REAA Zoom class will be on Thursday, March 18 from 6:30-8:30 PM and is approved for 2 hours of continuing education in California (only). Brian Melsheimer and I will provide a walk through of using Microsoft Excel for residential appraisal analysis. Given the limitations of our time in the class, this will be a […].
If you’re considering a career in appraisal, you probably want to know: What’s the average real estate appraiser salary? Survey data from the 2020-2021 Appraisal Income Guide shows that an appraiser’s annual income varies according to factors such as license level, years of experience, and more. Here’s a look at the average real estate appraiser salary, plus tips on how you can maximize your income as an appraiser.
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