Sacramento Appraisal Blog
OCTOBER 25, 2022
Home prices are the holy grail in real estate, and it almost seems sinful or off-limits to say they’re going down. But let’s be real. That’s what is happening right now locally and in some other portions of the country. Let’s talk about what this means as well as what’s going on in appraisal reports. […]. The post Are home prices declining?
Housing Wire
OCTOBER 27, 2022
On Thursday, the gross domestic product data for the third quarter showed the U.S. economy grew at a rate of 2.6%, breaking the negative GDP streak we had in the past two quarters. Does this mean the Federal Reserve needs to hike rates even more to get the recession they’re looking for, or is there a case for mortgage rates to go below 6% over the next six months?
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Cleveland Appraisal Blog
OCTOBER 27, 2022
Are you anticipating having your home appraised? How can you prepare for the inspection? This week I welcome back guest blogger, Betty White, who shares her thoughts on ways to prepare. While she is not an appraiser, I am, and I agree that these things can help! I hope you find this information helpful! When selling or refinancing a house, an appraisal is typically necessary.
George Dell
OCTOBER 26, 2022
There are three specific terms used to define what is a comp. It should be competitive, similar, and able to be compared. Competitive means what a ‘typical’ buyer would consider as between the comp, and the subject, if they were available in the marketplace at the same time (the date of value). Similar means “resembling […]. The post Three Ways to Pick a Comp?
The Appraiser Coach
OCTOBER 25, 2022
I grew up in a real-estate home. My father was involved in real-estate for as long as I can remember. When I was in my teens my dad became an. Read More.
Housing Wire
OCTOBER 28, 2022
Pending home sales continued their downward spiral in September, recording a 10.2% month-over-month decline that resulted in an index reading of 79.5, according to data released Friday by the National Association of Realtors. This is the fourth consecutive month of declines. Pending home sales have now fallen in 10 of the last 11 months. Economists predicted that pending home sales would drop by 4.0% in September.
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Eyes on Housing
OCTOBER 25, 2022
After bottoming out at 19% in the first quarter of 2022, the popularity of new homes continues to rebound, as the share of buyers looking for new construction rose to 21% and 27% in the second and third quarters of the year, respectively. A possible factor behind this trend is that the inventory of new homes for-sale is 25% higher.
GoForrmz
OCTOBER 27, 2022
Watch the replay of our Office Hours webinar and catch up on the latest GoFormz features In this webinar, Kelsey Griswold, Sr. Director of Product Management, and Alicia Bryan, Director of Customer Success, explore some enhancements to the GoFormz platform. Over the past 3 months, we’ve been hard at work adding new features to help your daily productivity.
Housing Wire
OCTOBER 26, 2022
September new home sales beat expectations, but don’t get too excited. While monthly supply rose in this report, the previous reports were all revised lower and sale levels are still historically low. New home sales are now below the recession levels of 2000 and have fallen all the way to 1996 levels, when interest rates were near 8%. As I have always tried to stress with home sales data, we have not had a massive credit sales boom like the one we saw during the housing bubble years, so we can’t
Appraisal Buzz
OCTOBER 28, 2022
“The above analysis clearly indicates a property in flood zones sells for less and appreciates slower over time than a similar property outside flood zones, given everything else is equal, in Miami,” according to CoreLogic’s report. The post Case Study: Impact of Flood Risk on Property Values appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 28, 2022
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that new home sales financed through FHA numbered 11,000 and accounted for 7.5% of the total in Q3 2022–the smallest share since the fourth quarter of 2007. The share has dropped by nearly two-thirds since the spring of 2020. In contrast, the share.
Appraiserblogs
OCTOBER 26, 2022
Does a mortgage lender have liability to the borrower for a negligent appraisal? As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years.
Housing Wire
OCTOBER 24, 2022
The Federal Housing Finance Agency (FHFA) on Monday announced that it is replacing the Classic FICO credit model, which Fannie Mae and Freddie Mac have relied on for nearly 20 years, for the FICO 10T and VantageScore 4.0. “They will provide more accurate credit scores, and we believe the market, including investors, will be provided with an improved understanding of risk from not just one but two different credit score models,” Sandra Thompson, the FHFA’s director, said during
Appraisal Buzz
OCTOBER 28, 2022
The National Association of Realtors’ latest Pending Home Sales Index showed transactions sliding by 31% year-over-year. Contract signings also pulled back in all four major U.S. regions, with inflated mortgage rates continuing to hinder homebuyers from purchasing a home. The post Pending Home Sales Drop in September appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 28, 2022
For the second straight quarter, more prospective buyers expect housing availability to improve. In the third quarter of 2022, 37% of buyers expect the home search to get easier in the months ahead, up from 17% and 22% in the first and second quarters of the year, respectively. More for-sale inventory and less competition from buyers priced-out by higher mortgage.
Appraiserblogs
OCTOBER 27, 2022
Appraisers, since 2011, the GSEs (called the ‘Enterprises’) have been collecting and analyzing appraisal data using their proprietary Uniform Appraisal Dataset (UAD) which was overlaid on four of the standard GSE appraisal forms, SFR’s and Condo’s only. Ever since then, appraisers and other users have complained that none of that data was available.
Housing Wire
OCTOBER 28, 2022
More than 18 months after the planned merger was announced, Flagstar Bank and New York Community Bank on Friday received approval by the Office of the Comptroller of the Currency. The depository banks, which first announced plans 19 months ago, extended their agreement to merge from Oct. 31 to Dec. 31, but still require the approval of the Federal Reserve.
Appraisal Buzz
OCTOBER 27, 2022
The number of zombie properties inched upward in Q4, and though they remain a small portion of the market at just one in every 13,000 residential properties nationwide, those numbers are projected to grow in the aftermath of foreclosure moratoria lapsing. The post Vacant Homes in Foreclosure Record Third Consecutive Quarterly Increase appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 27, 2022
Real GDP grew in the third quarter, after shrinking for the first two straight quarters of 2022. This quarter’s growth was mostly fueled by a decline in the trade deficit. More important, the data from the GDP report suggests that inflation is cooling. The GDP price index, rose 4.1% for the third quarter, down from a 9.0% increase in the.
Appraiserblogs
OCTOBER 24, 2022
ABC TV Documentary: Our America: Lowballed Because this issue was ignored by the appraisal industry, it is open season on appraisers. Because of the lack of credibility or awareness of the diversity issue that the appraisal industry faces by the two primary appraisal industry organizations, The Appraisal Institute and The Appraisal Foundation, there is no counter that can be presented to this continuing storyline.
Housing Wire
OCTOBER 28, 2022
All Things Housing. HousingWire Annual is where the community from across the housing ecosystem comes together to share strategies, drive business, discover new technologies, discuss best practices, and meet industry leaders. During this year’s conference, content spoke to questions about the economy, how to build a winning team, and attract a community of loyal customers.
Appraisal Buzz
OCTOBER 27, 2022
A new document outlines a list of proposals and alternatives under consideration for the Consumer Financial Protection Bureau’s data rights rulemaking—strengthening consumers’ access and rights to their financial data—through updates to the Dodd-Frank Act. The post Feds Aim to Return Financial Data Rights to Consumers appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 27, 2022
Housing’s share of the economy edged lower at the end of the third quarter of 2022. This is the first quarter where GDP increased for 2022, with overall GDP increasing at a 2.6% annual rate, following a 0.6% decrease in the second quarter and 1.6% decrease in the first quarter. However, due to higher interest rates, housing’s share of GDP.
Valuation Nation
OCTOBER 24, 2022
Housing Wire
OCTOBER 28, 2022
This panel will explore the power of mentorship and allies among women within lending and real estate and the benefits that these relationships can have for both junior-level and executive women in the industry. How can this relationship help support emerging leaders and balance out a male-driven industry? In what ways can those in the industry help to create an environment that sets women up for success and allows for a sustainable, long-term career?
Appraisal Buzz
OCTOBER 26, 2022
Median sales price now sits below the highs recorded during June, while inventory hit a recent record high. Click through to find out what else RE/MAX’s National Housing Report found. The post Market Exhibiting Signs of Seasonal Slump appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 26, 2022
Rising mortgage rates approaching 7% along with declining builder sentiment stemming from stubbornly high construction costs and weakening consumer demand pushed new-home sales down at a double-digit rate in September. Following a brief uptick in August, sales of newly built, single-family homes in September fell 10.9% to a 603,000 seasonally adjusted annual rate, according to newly released data by the.
Birmingham Appraisal
OCTOBER 26, 2022
Don’t Be Guilty of Pricing Your Home Too High. It’s already been said, however, I think it is worth stating again that the market has shifted. It’s important to keep this in mind when pricing your home to sell because if you don’t this could cost you both time and money. In fact, the market continues to shift. Anything that is related to the real estate market that changes has the potential to influence how much you can sell your home for and how long it might take to sel
Housing Wire
OCTOBER 28, 2022
Former employees at Finance of America Mortgage LLC (FAM) are transitioning to American Pacific Mortgage (APM), as the company will shut down by the end of the year, a source with knowledge of the process told HousingWire. . Specifically, California-based APM has hired former FAM staff members in Northern California offices, the source said. The same source explained that there’s no transfer of assets nor is there a merger and acquisition (M&A) transaction. . “As a matter of
Appraisal Buzz
OCTOBER 26, 2022
A new Urban Institute report argues that the normalization of forbearances for life occurrences like job loss could keep thousands out of the foreclosure process every year. The post Commentary: Permanent Forbearance Could Prevent Future Foreclosures appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 28, 2022
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.4% in September, the eighth consecutive monthly increase of this year. Gains in personal income are largely driven by increases in compensation of employees and personal income on assets. Real disposable income, income remaining after adjusted for taxes and inflation, stayed flat in.
BiggerPockets
OCTOBER 25, 2022
As a vacation rental host, you want to do everything you can to make your guests feel at home. One way to do that is by providing them with freebies […].
Housing Wire
OCTOBER 24, 2022
Ginnie Mae President Alanna McCargo on Monday announced changes to the re-pooling seasoning requirement for re-performing loans, which it says will increase issuer liquidity. The government mortgage insurer will shorten the seasoning requirement from six months to three months and allow issuers the option to pool re-performing loans into TBA-eligible Ginnie Mae II Multi-Issuer Pools.
Appraisal Buzz
OCTOBER 25, 2022
“Today’s decision will benefit borrowers and the Enterprises, along with maintaining safety and soundness,” said Sandra L. Thompson, Director of the FHFA. The post FHFA Approves New Credit Scoring Models for GSEs appeared first on Appraisal Buzz.
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