Sacramento Appraisal Blog
JANUARY 23, 2024
The housing market has 80s vibes. The 90s are back for clothing, but it’s the early 1980s when it comes to housing narratives. Today, I want to show some headlines from over forty years ago, and I’d love to hear your take. UPCOMING (PUBLIC) SPEAKING GIGS: 01/31/24 Joel Wright & Mike Gobbi Event 9am (on […] The post The housing market has 80s vibes first appeared on Sacramento Appraisal Blog.
Housing Wire
JANUARY 20, 2024
Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. Traditionally at this time of year purchase apps rise and the number of price cuts fall. However, at the current trend, we will break below the lows in the price cut percentage data that we saw in 2023 in the spring of this year. I will watch for rising mortgage rates to see if they change the weekly data.
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George Dell
JANUARY 24, 2024
Time adjustments are not required. Unless they are needed. Appraisal time adjustments are also labeled as “market conditions” adjustments. Or, more recently in Evidence Based Valuation, “Market Price Indexing (MPI)©”. The FHFA blog post of 1/16/2024 defines “underappraisals” as those loan appraisals which come in below the contract price. The rising market […] The post No Time Adjustments!?
Real Estate News
JANUARY 24, 2024
The best way to protect consumers and raise the bar for the entire industry? Require buyer agency agreements across the board.
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Inman
JANUARY 21, 2024
What we invest in, we can expect to grow. That’s why Jimmy Burgess recommends choosing one of these areas to invest in if you want big returns.
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The Appraiser Coach
JANUARY 23, 2024
It’s a situation I’ve seen time and time again. Someone in the appraisal office is doing too much. They take all the phone calls. They do all the data entry. They send out all the emails. They update AMCs when needed. They make appointments. What don’t they do? Sleep, probably. I have a term for this kind of behavior: Everyperson Syndrome. I know that many of you think you know where I’m going with this.
Real Estate News
JANUARY 22, 2024
For more than a decade, housing supply has not kept pace with demand. Building more homes might seem like the answer, but there’s more to it than that.
Inman
JANUARY 23, 2024
During his latest ICNY appearance CoStar Group CEO Andy Florance chastised Zillow, Redfin and Realtor.com for prioritizing their bottom line to the detriment of buyers and listing agents.
Housing Wire
JANUARY 25, 2024
People say that housing leads the economy into a recession: this is true when new home sales and housing permits fall together. When that happens, the builders start laying off workers before the national economy goes into a recession. This is one reason I raised my fifth recession red flag for Housing on June 16, 2022 as I saw that higher mortgage rates would impact new home sales and housing permits.
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Miller Samuel
JANUARY 23, 2024
A long time friend and journalist Kathleen Hays invited me to speak with her about the impact of the recent Fed pivot on the U.S. housing market. She has extensive experience interviewing experts about the economy from time at Bloomberg Television. She’s started up a very cool Substack: Central Bank Central that features conversations around Fed policy.
Real Estate News
JANUARY 23, 2024
The trade association favors a consolidated approach but wants all 19 cases included — and doesn’t think the trial should be held in Missouri.
Inman
JANUARY 26, 2024
With listings still in short supply, homebuyers are "dealing with an affordability shock" and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY.
Housing Wire
JANUARY 23, 2024
Private equity giant Blackstone is set to acquire Tricon Residential in a deal valued at around $3.5 billion, the company announced last week. Blackstone entered an agreement to acquire all outstanding common shares of Tricon, with a price tag of $11.25 per common share. The proposed transaction comes at a premium, marking a significant 30% increase over Tricon’s closing share price on the New York Stock Exchange as of Jan. 18, 2024, the final trading day before the formal revelation of t
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Eyes on Housing
JANUARY 24, 2024
According to the January 2024 survey for the NAHB/Wells Fargo Housing Market Index, high interest rates were a significant issue for 90% of builders in 2023, and 77% expect them to be a problem in 2024. The second most widespread problem in 2023 was rising inflation in US Economy, cited by 83% of builders, with 52% expecting it to be.
Real Estate News
JANUARY 25, 2024
CRMLS, Bright MLS and MRED have reached an agreement with ThePLS.com over Clear Cooperation rules, leaving NAR as the only remaining defendant.
Inman
JANUARY 24, 2024
Attract buyers by taking your value proposition to the next level with advice from Chelsea Hamre from RE/MAX, Julia Boland from Corcoran, DJ Ten Hoeve from Keller Williams at Inman Connect New York.
Housing Wire
JANUARY 24, 2024
Fannie Mae has announced updates to its HomeReady product, including a temporary $2,500 credit for very low-income purchase borrowers to use for down payment and closing costs. Another step the government-sponsored enterprise took was to enhance the best efforts commitments on HomeReady loans. It allows lenders to lock in margins and reduce hedging costs.
Eyes on Housing
JANUARY 22, 2024
According to the U.S. Census Bureau’s latest estimates, the U.S. resident population grew by 1,643,484 to a total population of 334,914,895. The population growth rate reached its highest level since the pandemic at 0.49%. This is just above the 2019 growth rate (0.46%), while slightly below the 2018 growth rate (0.53%). The Census Bureau reports that the primary source for.
Real Estate News
JANUARY 25, 2024
Ryan Schneider spoke to Real Estate News about his company’s decision to settle in the commissions cases and his thoughts on NAR and the year ahead.
Inman
JANUARY 26, 2024
At Inman Connect, Ed Zorn proposed mandating buyer representation agreements, killing the MLS compensation field, adding a concession field, and creating a fund to pay out settlements.
Housing Wire
JANUARY 24, 2024
Mortgage demand continued to increase last week, as seen in an uptick in purchase activity. Mortgage applications rose by 3.7% in the week ending Jan. 19 compared to one week earlier on a seasonally adjusted basis, per the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey. “Conventional and FHA purchase applications drove most of the increase last week as some buyers moved to act early this season,” Joel Kan , MBA’s vice president and deputy chief economist, said in a st
Eyes on Housing
JANUARY 26, 2024
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash purchases accounted for 8.4% of new home sales in 2023—a 1.3 percentage point decline over the year but still the second-highest share since 1991. In contrast, the share of new home sales backed by VA loans fell to a 16-year low of 4.8% in 2023.
Real Estate News
JANUARY 23, 2024
AREA, an initiative spearheaded by Mauricio Umansky and Jason Haber, aims to create “something totally new” for agents and others dissatisfied with NAR.
Inman
JANUARY 23, 2024
James Dwiggins argued at Inman Connect New York that commission lawsuits and pressure from the feds is going to bring about change in the real estate industry.
Housing Wire
JANUARY 25, 2024
Homeowners in California now have even fewer choices in homeowners insurance carriers. The Hartford Financial Services Group , better known as The Hartford, announced Wednesday that it would no longer issue new homeowners insurance policies in California starting in February 2024. The firm noted that this change would also impact The Hartford’s joint homeowners insurance program with AARP.
Eyes on Housing
JANUARY 25, 2024
Falling interest rates in the closing weeks of 2023 helped to bring buyers off the sidelines and provide a boost for new home sales. Sales of newly built, single-family homes in December increased 8.0% to a 664,000 seasonally adjusted annual rate from an upwardly revised reading in November, according to newly released data by the U.S. Department of Housing and.
Real Estate News
JANUARY 21, 2024
A new survey finds that most brokerages and agents are using artificial intelligence tools, especially ChatGPT. But they need to watch out for the risks.
Inman
JANUARY 23, 2024
At Inman Connect New York's Broker tract, Hilary Farnum-Fasth said that agents need to dig deep into their networks to find the right vendors and partners who can put the buying puzzle together for their clients.
Housing Wire
JANUARY 24, 2024
Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac announced this week the release of their “Mission Index,” updating or expanding their single-family social bond framework to better communicate the goals of the index to stakeholders and investors. The GSEs issued separate announcements and a joint statement. Freddie Mac updated its single-family social bond framework which includes refinements to its mortgage-backed securities (MBS) disclosures, “designed to further support unde
Eyes on Housing
JANUARY 25, 2024
The U.S. economy grew at a surprisingly strong pace in the fourth quarter, mainly fueled by resilient consumer spending. However, the fourth quarter data from the GDP report suggests that inflation is cooling. The GDP price index rose 1.5% for the fourth quarter, down from a 3.3% increase in the third quarter. The Personal Consumption Expenditures (PCE) Price Index, which.
Real Estate News
JANUARY 26, 2024
The uptick in pending homes is a “promising” sign of life in a market that has been sidelined by low inventory and high home prices.
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