George Dell
NOVEMBER 22, 2022
Editor’s Note: Is the Definition of Market Value Outdated? is a Guest Post from Bruce Hahn, SRA, MAI, CRE, CCIM. Why has the current definition of market value been around without change for so long? Many decades in fact! Not much of it seems applicable to the realities of at least the last decade nor […]. The post Is the Definition of Market Value Outdated?
Housing Wire
NOVEMBER 23, 2022
It’s a terrible time for homebuyers. Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. By taking advantage of the 2-1 temporary rate buydown, Davis was able to lower her 7.25% mortgage rate by 2% in the first year and by 1.5% in the second year.
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Sacramento Appraisal Blog
NOVEMBER 21, 2022
I don’t recommend talking about real estate during Thanksgiving dinner, but if you need some flavorful conversation, I’ve got you covered. UPCOMING (PUBLIC) SPEAKING GIGS: 12/5/22 SAFE Credit Union market update on Zoom (register here (free)) 1/18/23 WCR Market Update in Cameron Park (details TBD) 1/19/23 Big market update at SAR on Zoom (details TBD) 1/23/23 […].
Eyes on Housing
NOVEMBER 23, 2022
New home sales rebounded in October despite higher mortgage rates, likely due to low existing home inventory and builders using incentives to attract buyers to the new home market. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in October at a 632,000 seasonally adjusted annual pace, which is.
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The Appraiser Coach
NOVEMBER 22, 2022
What an opportunity it is to live in the information age. There are so many mind-boggling technological advancements out there and so many educational resources to take advantage of. As. Read More.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraiserblogs
NOVEMBER 22, 2022
That article mentioned three on-line services which claim to provide accurate property values. In alphabetical order, those services were REDFIN, ReMax, and Zillow. Folks, in all the diatribes against appraisers by people who believe “we” have built-in systemic bias, the topic of AVMs has come up. Some of the diatribers apparently think that using an AVM will magically produce an accurate property valuation, while eliminating bias, and appraisers.
Eyes on Housing
NOVEMBER 21, 2022
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded during the third quarter of 2022 despite broader market weakness. There were 59,000 total custom building starts during the third quarter of the year. This marks a 5% increase compared to the third quarter of 2021 in terms of year-over-year change.
Robinson Appraisal Group
NOVEMBER 25, 2022
Interest rates play a crucial role in the housing market. Lower rates typically promote an increase in demand for properties, this in turn drives up pricing, while on the flip side of that, higher interest rates reduce the demand since the costs of a mortgage increase deterring prospective home buyers. We have been in a special situation in the past few years with respect to the pandemic.
Housing Wire
NOVEMBER 23, 2022
Today new home sales beat estimates , and new home median sales prices hit an all-time high. What is going on here? My job is always to be the detective, not the troll so let’s take a look at today’s data, as there is a constant theme here that I have talked about for some time. Hopefully, I can make sense of this report, which showed the home sales beat estimates with prices still at all-time highs.
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Appraisal Hub
NOVEMBER 23, 2022
The Toronto housing market is slowing down, showing a 6% decline in October 2022 compared to the same period last year. Now might be the best time to sell your home and avoid further falls in the market. But to ensure that your property is sold for fair market value, you’ll need the guidance of a reliable appraisal company. Why you need appraisal services in Toronto: Find the Right Value for Your Property.
Eyes on Housing
NOVEMBER 21, 2022
An expected impact of the virus crisis 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 appears to be reversing. According to third quarter 2022.
GoForrmz
NOVEMBER 23, 2022
What we’re thankful for this Thanksgiving Thanksgiving is tomorrow and to celebrate the holiday, we want to share what our team is thankful for. At GoFormz, we take pride in not only the work we do for our customers but the environment we create for our employees. GoFormz events and team activities in 2022. As we wrap up 2022, it’s been a great year filled with events, webinars, recognitions, and much more!
Housing Wire
NOVEMBER 23, 2022
With mortgage rates down nearly 50 basis points from the recent peak about a month ago, borrower demand picked up again this week, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, rose 2.2% for the week ending November 18 after registering a 2.7% increase in the previous week.
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Empire Appraisal Group
NOVEMBER 23, 2022
Source: Opendoor Lost Close to $1B in 3Q | Florida Realtors. By Kerry Smith. The RE market changed quickly as the Fed raised interest rates, and Opendoor’s CEO blamed that “once-in-forty-years market transition” for its $928M loss. Opendoor Lost Close to $1B in 3Q. Source: Opendoor Lost Close to $1B in 3Q | Florida Realtors. By Kerry Smith. The RE market changed quickly as the Fed raised interest rates, and Opendoor’s CEO blamed that “once-in-forty-years market transition” for its $928M loss.
Eyes on Housing
NOVEMBER 22, 2022
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the third quarter of 2022. At 141,000 units started, this was the largest quarter for rental multifamily construction since the second quarter of 1986. The market share of rental units of multifamily construction starts increased to 97% as the already small condo.
GoForrmz
NOVEMBER 21, 2022
There aren’t enough ways to say “thank you!” Already proud to be providing businesses around the world with a better way to fill out their forms, GoFormz is honored to announce that we’ve been named a Top Workplace in 2022. The San Diego Union-Tribune recently published their Top Workplaces list, and our team is overjoyed to share what we’ve known all along: GoFormz is a fantastic place to call home!
Housing Wire
NOVEMBER 22, 2022
Prepayment activity fell to another record low in October amid mortgage rates topping 7% and refis drying up. Black Knight expects that the steep declines in rate lock volume and seasonality factors point to further declines in prepayment activity. Prepayment dropped 16.5% to a single-month mortality rate of 0.48%, well below the previous record of 0.55%, according to Black Knight’s October mortgage performance statistics report.
BiggerPockets
NOVEMBER 19, 2022
Most economists agree: Housing prices are expected to fall, nearing a bottom sometime between 2024 and 2025 before rebounding. That’s the opinion of analysts at Goldman Sachs, Wells Fargo, Moody’s Analytics, Capital Economics, The National […].
Eyes on Housing
NOVEMBER 23, 2022
The missing middle construction sector includes development of medium-density housing, including townhouses, duplexes and other small multifamily properties. While townhouse construction has trended higher in recent quarters, the multifamily segment of the missing middle (apartments in 2 to 4 unit properties) has disappointed. For 2021, there were only 12,000 starts of such residences.
Lamacchia Realty
NOVEMBER 22, 2022
We are pleased to announce that Gina Shumilla , a well know Real Estate Leader in Central Connecticut, has joined Lamacchia Realty. Gina joined alongside Beth Byrd as the first two Managers to head the new Lamacchia Realty Connecticut expansion. Lamacchia will be opening its first Connecticut office in a matter of weeks and Gina is a big part of that effort.
Housing Wire
NOVEMBER 21, 2022
In late October, the Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Treasury Department , announced its decision to again expand its Geographic Targeting Orders (GTOs). The new requirements go into effect on November 25, 2022, and the terms of the GTOs are effective through April 2023. In addition to Boston, Chicago, Dallas-Fort Worth, Honolulu, Las Vegas, Los Angeles, Miami, New York City, San Antonio, San Diego, San Francisco, Washington, D.C., Northern Virginia and Ma
San Jose Real Estate
NOVEMBER 21, 2022
A study of 8 online home valuation sites and how different the answer is to the question "what's my home worth?".
Eyes on Housing
NOVEMBER 21, 2022
Nonfarm payroll employment increased in 42 states in October compared to the previous month while eight states and the District of Columbia lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 261,000 in October, following a gain of 315,000 jobs in September. On a month-over-month basis, employment data was strong in California, which.
Lamacchia Realty
NOVEMBER 22, 2022
We are thrilled to announce that Beth Byrd , a well-known and highly respected Leader and REALTOR® in the Connecticut real estate industry, has joined Lamacchia Realty. Beth joined alongside Gina Shumilla as the first two Leaders and REALTORS® to head the new Lamacc hia Realty Connecticut expansion plans. Beth’s nearly ten years of experience in the Connecticut real estate market combined with years of sales experience prior helped form her into an expert in the local industry and a top-notch me
Housing Wire
NOVEMBER 23, 2022
Mortgage rates are changing every day – and those changes can have big effects on borrowers. Over the last year, it seems that most of those changes have taken an upward trajectory, but there are times that monitoring mortgage rates means good news, such as the rate drop from 7.37% on Nov. 9 to 6.67% on Nov. 10. So how – and how often – should you be communicating rate changes to your borrowers?
Eppraisal
NOVEMBER 25, 2022
In the previous installment, readers discovered that there are profits to be realized when investing in properties with affordable housing units. In addition, landlords who do so are providing a service to the community. So, owners accept lower rent payments from qualified tenants while receiving funding and/or tax benefits from the federal government.
Lamacchia Realty
NOVEMBER 21, 2022
DECORATING YOUR HOME FOR THE HOLIDAYS WHEN IT'S ON THE MARKET. The most wonderful time of the year is right around the corner, and that means it’s time for holiday movies, hot cocoa, and of course decking the halls with boughs of holly! One of the best parts about the holiday season is the tradition of decorating your home. However, if your house is on the market this holiday season, you’re probably wondering how to tastefully decorate your house for the holidays without turning away buyers.
Housing Wire
NOVEMBER 23, 2022
The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. “While it is true that many nonbanks entered this downturn with a large war chest of cash and capital, this is more than offset by the impact of warehouse and investor covenants, which are causing lenders to move expeditiously to cut costs,” Jim Cameron, Stratmor Group ’s senior partner, wrote in a report published this week.
Mortgagebroker News
NOVEMBER 25, 2022
Attending the prestigious gala event opens up a host of possibilities, 2022 winner says
Mashvisor
NOVEMBER 24, 2022
Single-family housing starts fell more than expected in Q3 2022, forcing developers to brace themselves for more declines in the next few weeks.
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