Sacramento Appraisal Blog
MAY 16, 2022
Dear Sellers, How are things? I hope all is well. It’s been such a crazy market, but things are starting to change. So, let’s chat. This is coming from a good place, and it’s based on observations and what I’m hearing from real estate professionals. WEBINAR ON THURSDAY: On May 19th at 10am I’ll be […].
Housing Wire
MAY 19, 2022
The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 million , with double-digit home-price growth driving a housing market that is still savagely unhealthy. However, this year has seen one big game-changer: the 10-year yield finally cracked over 1.94%, which drove mortgage rates over 4%. This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up.
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Appraisal Buzz
MAY 16, 2022
In today’s Buzzcast, the Allterra Group gives you all of the details for the upcoming conference -Valuation Expo! Valuation Expo will be hosted at the Mirage Hotel, September 7-9! Save 50% ($450) on your General Session Pass when you become an Appraisal Buzz Premium Plus Member by May 18th! Check out all of the new sessions with leaders in the industry, earn your CE, renew your USPAP , and network with hundreds of attendees all while exploring all that Vegas has to offer!
Eyes on Housing
MAY 20, 2022
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building posted a year-over-years gain for the first quarter of 2022. There were 46,000 total custom building starts during the first quarter of the year. This marks a 28% increase from the first quarter of 2021. Over the last four quarters, custom housing.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
George Dell
MAY 18, 2022
The neighborhood section of appraisal reports is pretty much protocol. We have asked how a report on the neighborhood may or may not contribute to valuation value or reliability (risk) estimates. We continue to consider how traditional practice helps or hinders adoption of modern process technologies. As always, we have found it is important to […].
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
MAY 20, 2022
McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide array of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Do you already have an Unlimited Learning Membership?
Eyes on Housing
MAY 17, 2022
In a sign that the housing market is now slowing, builder confidence took a steep drop in May as growing affordability challenges in the form of rapidly rising interest rates, double-digit price increases for material costs and ongoing home price appreciation are taking a toll on buyer demand. Builder confidence in the market for newly built single-family homes fell eight.
The Appraiser Coach
MAY 17, 2022
I have a server. It’s not the racks, the room, and the computers buzzing that you may think of when you hear about a server. It’s just a large desktop. Read More.
Housing Wire
MAY 18, 2022
The U.S. Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. Housing starts came in at 1.724 million , and housing permits came in at 1.819 million — both are still very healthy numbers. However, the sting of higher mortgage rates is hitting the single-family construction data, and the real story is that the housing completion data, which has be
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Appraisal Buzz
MAY 18, 2022
Desktop Appraisals have evolved so much in the past 3 years alone — how exactly can appraisers keep up on the changes and impact on the appraisal industry? Join us for our upcoming webinar, “ Desktop Appraisals – Yes, No, Maybe? ” on March 19th at 2 pm with Tony Pistilli. Have all of your burning questions about Desktop Appraisals answered and more!
Eyes on Housing
MAY 19, 2022
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the first quarter of 2022 single-family attached starts totaled 36,000, which is 16% higher than the first quarter of 2021. Over the last four quarters, townhouse construction starts totaled 152,000 units, 25% higher than the prior four quarter total (122,000).
Appraiserblogs
MAY 20, 2022
VA Fee Panel – The Appraisal Institute does not believe that a move to a lender select program, such as those found in the conventional or FHA mortgage markets, would improve timeliness, nor would it be in the best interests of veterans. On May 18, the Subcommittee on Economic Opportunity held a legislative hearing on the Discussion Draft of H.R. 7735, Improving Access to the VA Home Loan Act of 2022.
Housing Wire
MAY 19, 2022
If there’s a bet to be made on the future of the non-agency lending space, it’s that the adjustable-rate mortgage (ARM) will become far more popular this year as purchase mortgages increasingly dominate a housing market pivoting to an up-rate environment. That’s the consensus forecast of a panel of non-agency industry experts who spoke at the Mortgage Bankers Association ’s (MBA’s) Secondary and Capital Markets Conference & Expo in New York City this week. .
Appraisal Buzz
MAY 17, 2022
Sean McGowan has been hired as chief people officer for mortgage services firm BSI Financial Services , while Shannon Clay has joined the company as senior vice president of investor reporting. McGowan has more than 20 years of mortgage experience, having held leadership positions at Accenture, Bank of America, and Mr. Cooper. Most recently, he led Appspace, a global software company providing a workplace experience platform.
Eyes on Housing
MAY 18, 2022
The single-family built-for-rent sector continues to expand as housing affordability headwinds increase. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 13,000 single-family built-for-rent (SFBFR) starts during the first quarter of 2022. This is a 62.5% gain over the first quarter 2021 total.
The Robert Weiler Company
MAY 18, 2022
When selling commercial real estate, the favorite phrase, “A little bit goes a long way,” holds much truth. Before listing and showing your property, there is a wide range of tasks that can, and should, be undertaken to increase the chances of a sale and boost the potential ROI. A study performed by the Florida Nursery Growers and Landscape Association found that something as simple as landscaping has the potential to increase the resale value of a property by 14 percent.
Housing Wire
MAY 19, 2022
Skyrocketing mortgage rates and a slowdown in new home constructions led to a drop in home purchases in April. Mortgage applications for new home purchases dropped 10.6% in April from the same period last year, according to the Mortgage Bankers Association builder application survey. Compared with last month, applications dropped by 14%. . MBA estimates that about 701,000 new homes were sold in April at a seasonally adjusted annual rate, marking a decline for five consecutive months.
Appraisal Buzz
MAY 17, 2022
This content is password protected. To view it please enter your password below: Password: The post Protected: Appraisal Logistics Taps Green as Chief Strategy Officer appeared first on Appraisal Buzz.
Eyes on Housing
MAY 19, 2022
As rising mortgage rates and higher home prices continued to price out first-time and young homebuyers and reduce affordability, existing home sales dropped to the lowest level since June 2020, according to the National Association of Realtors (NAR). However, the trend in home price appreciation continued as supply remained tight. Total existing home sales, including single-family homes, townhomes, condominiums and.
JMV Lending
MAY 18, 2022
This is another reminder that condos are not distinguishable from PUDs (Planned Unit Development units) by appearance alone. Attached side-by-side two-story units that all touch the ground can be zoned “CONDO” or “PUD.” Complexes with units that “float” (that do not touch the ground) will almost always be zoned condo (PUDs must touch the ground). The post Condo vs.
Housing Wire
MAY 19, 2022
Madison-based Fairway Independent Mortgage Corp. appears to be the latest mortgage lender to cut jobs due to the challenging origination market, showing that surging mortgage rates and home prices are now affecting companies with a high share of purchase loans in their portfolios. Fairway staff across the country received phone calls last week from their supervisors announcing they were part of a round of layoffs, a dozen former employees told HousingWire over the last few days.
Appraisal Buzz
MAY 17, 2022
A “luxury” home is not so much about price tag as it is about quality and customization. At its core, it’s any home that is a step above typical or even high-end traditional homes in the area. So, you don’t have to live in an area full of sprawling mansions and multi-million-dollar homes to become a luxury home appraiser. There are many reasons why appraising luxury homes is recommended for real estate appraisers.
Eyes on Housing
MAY 18, 2022
Single-family starts declined in April, as higher interest rates weighed on housing affordability, producing a fifth straight decline for the NAHB/Wells Fargo HMI. Additionally, the cost and availability of materials, lumber, labor and lots remain key supply-side headwinds. Single-family permits decreased 4.6% to a 1.11 million unit rate in April. Nonetheless, the resale market lacks inventory, which is supporting demand.
The Robert Weiler Company
MAY 17, 2022
Commercial real estate investing is a big decision. No one ever said it was for the risk-averse; that’s for sure! Fortunately, commercial rental properties for sale typically offer a great return on investment over the long haul. You just need to know where to begin and how to find commercial space. Below, we’ve outlined four effective steps to uncover a profitable commercial rental property available on the market.
Housing Wire
MAY 16, 2022
Servicers’ forbearance portfolio volume dropped in April to a level below 1%, with fewer than half a million borrowers remaining with an active plan, according to the monthly Loan Monitoring Survey conducted by the Mortgage Bankers Association (MBA). That’s good news after the economic impacts of the Covid-19 pandemic hit borrowers hard, making it difficult for Americans to pay their mortgages.
Appraisal Buzz
MAY 18, 2022
LexisNexis has released its first True Cost of Fraud for Real Estate study which examines fraud trends for the United States based on the answers of 360 risk and fraud management executives which found that mortgage lenders are especially vulnerable through online and mobile channels. The report will also track “pain points” related to fraud detection, prevention, … The post $1 of Mortgage Lending Fraud costs over $4 to Recover appeared first on DSNews.
Eyes on Housing
MAY 19, 2022
Confidence in the market for new multifamily housing turned downward in the first quarter of 2022, according to the latest results from NAHB’s Multifamily Market Survey (MMS). The MMS produces two main indices. The survey’s Multifamily Production Index (MPI) decreased six points to 48 in the first quarter, dipping below the break-even mark of 50 for the first time in.
Appraiserblogs
MAY 18, 2022
To judge an entire profession by anecdotal evidence is equally both stupid and harmful… The entire emphasis was on “anecdotal evidence” which is not documented or supported. Story after story was told about how appraisers had produced a “biased” report. No documentation and no evidence to support their claims was presented. Folks, after discussing this topic with and learning more about the appraiser who wrote this following essay, I have decided to distribute the essay below as a way to further
Housing Wire
MAY 19, 2022
The Community Home Lenders Association (CHLA) sent a letter, signed by 41 independent mortgage banks, to the Federal Housing Administration (FHA) on Wednesday urging the administration to cut mortgage insurance premiums. The letter, which includes signatures from South Carolina-based Movement Mortgage , Cherry Creek Mortgage , Texas-based Thrive Mortgage and Draper & Kramer Mortgage , advised the FHA to get rid of its life of loan policy and reduce the annual premiums by 30 basis points to.5
Appraisal Buzz
MAY 18, 2022
Rick Hogle has joined Cherry Creek Mortgage , a nationwide, full-service mortgage lender, as chief revenue officer. Hogle brings a breadth of experience, proven leadership and industry expertise to his new role, as well as deep roots in retail production. He began his mortgage career in 2001 with New Century Mortgage, where he became one of the firm’s top originators in his first year and later a successful branch manager.
Eyes on Housing
MAY 16, 2022
Over the first three months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 278,189. On a year-over-year (YoY) basis, this is a 0.8% increase over the March 2021 level of 276,110. Year-to-date ending in March, single-family permits declined in three out of the four regions. The South posted a modest increase of 4.8% while the.
Appraiserblogs
MAY 16, 2022
Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes things worse when they only have their plan in mind and NOT the FACTS from the people they are about to hurt. This is especially true in the Real Estate Appraisal profession and the newly introduced H.R. Bill entitled: Fair Appraisal and Inequity Reform Act of 2022.
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