Cleveland Appraisal Blog
SEPTEMBER 30, 2022
A flipbook is a book with a series of pictures that change slightly with the turn of each page. When flipping thru one of these books, the viewer’s mind fills in the gaps between pictures so that an animated story and picture develops. According to Wikipedia , the oldest documented flip book appeared on March 18th, 1868. At that time, it was patented by John Barnes Linnett.
Housing Wire
SEPTEMBER 27, 2022
The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac , has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps. The plaintiffs, Fairholme Funds Inc., et al., are private-sector investors in Fannie Mae and Freddie Mac, which have been in conservatorship under FHFA oversight since the 2008 fin
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Sacramento Appraisal Blog
SEPTEMBER 28, 2022
Housing trends are changing by the week, and it’s time to start believing the Fed when they talk about resetting the housing market. Let’s chat about this today, and I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (9am-10:15am Sign up here) 10/13/22 Market update in Midtown […].
The Appraiser Coach
SEPTEMBER 28, 2022
You may have heard that you can’t have opinions about the color of a room or shaggy carpet as you’re doing your job and walking through homes… that’s dead wrong. Read More.
Appraisal Buzz
SEPTEMBER 26, 2022
This article was originally published in the latest edition of the Fall 2022 Appraisal Buzz Magazine! To receive this subscription directly, click here. Once upon a time, there was a rich nation which valued many things. There were many owners and “wannabe” owners. The owners wanted to be richer and the wannabes wanted to be like the owners. They all liked value.
Housing Wire
SEPTEMBER 28, 2022
New home sales came in as a massive beat of sales estimates, with a 28% month-to-month increase. And, out of the 461,000 new homes available for sale, only 49,000 have been completed and are available to be occupied. These are both crazy stats! Monthly supply data fell — in normal times this would be looked at as a bullish report for housing. However, in this environment, with falling year-over-year purchase application data, this report isn’t as bullish as it seems.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Eyes on Housing
SEPTEMBER 28, 2022
A brief decline in mortgage rates helped to boost new home sales in August but sales are expected to move lower in the months ahead as rates have since moved higher and builder sentiment continues to fall due to declining housing affordability and ongoing supply chain bottlenecks. Sales of newly built, single-family homes in August increased 28.8% to a 685,000.
Appraisal Buzz
SEPTEMBER 30, 2022
A financial services veteran, Almodovar brings more than 30 years of finance, real estate, and community development expertise and a strong commitment to affordable housing. The post Priscilla Almodovar to Serve as Fannie Mae CEO appeared first on DSNews. The post Priscilla Almodovar to Serve as Fannie Mae CEO appeared first on Appraisal Buzz.
Housing Wire
SEPTEMBER 27, 2022
When Federal Reserve Chairman Jerome Powell talked about a housing reset in June , it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting , held last week, Powell finally clarified what he meant by that term and what a housing reset means to the Fed. However, a housing reset isn’t the only pressing issue — we now also have to think about a worldwide global recession.
DW Slater Company
SEPTEMBER 29, 2022
“Texas is neither southern nor western. Texas is Texas.” ~William Blakely. I am a 7th generation Texan on both sides of my family. I can trace my roots back to the Battle of San Jacinto and the Old Three Hundred. If you are from Texas then you get it. To those that just got here, “Welcome”!! I hope you enjoy it as much as I do! Texas really is big and very unique!
Eyes on Housing
SEPTEMBER 29, 2022
According to NAHB Economics analysis of the Survey of Construction (SOC) data, almost 9% of new single-family homes started in 2021 are served by individual wells and 16% have private septic systems. These shares, however, vary widely across the nine Census divisions with the corresponding shares reaching 36% and 44% in New England – the highest occurrence rates in the.
Appraisal Buzz
SEPTEMBER 29, 2022
The U.S. Department of Housing and Urban Development (HUD), in partnership with the U.S. Department of Veterans Affairs, today awarded $5 million in $1 million allotments to five non-profits in support of the Veterans Housing Rehabilitation and Modification Pilot Program (VHRMP). The awardees of the competitive grants were selected by HUD’s Office of Rural Housing … The post HUD Awards $5M for Repairing Low-Income Veteran’s Homes appeared first on DSNews.
Housing Wire
SEPTEMBER 30, 2022
The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The survey also indicates a large dispersion in rates, meaning that homebuyers can save hundreds of dollars by shopping around with different lenders. A year ago at this time, rates averaged 3.01%.
Appraiserblogs
SEPTEMBER 26, 2022
Concerns about slow VA appraisal turnaround times is overblown… On September 14, 2022, US House passed HR 7735, “the Improving Access to the VA Home Loan Benefit Act of 2022“, legislation that proposes to overhaul the Department of Veterans Affairs’ appraisal requirements, including when an appraisal is required, how an appraisal is to be conducted, and who is eligible to conduct an appraisal.
Eyes on Housing
SEPTEMBER 28, 2022
Consumer confidence increased for the second straight month to the highest level since April, as solid job gains, declining gas prices and easing inflation contributed to more optimistic views of economy. However, spending plans were mixed. The purchasing intention to buy cars and major appliances increased, while the intention to buy homes fell due to the rising mortgage rates.
Appraisal Buzz
SEPTEMBER 29, 2022
First American Financial Corporation, a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today released the July 2022 First American Real House Price Index (RHPI). The RHPI measures the price changes of single-family properties throughout the U.S. adjusted for the impact of income … The post Markets Considered Overvalued Increasing as Mortgage Rates Rise appeared first on DSNews.
Housing Wire
SEPTEMBER 29, 2022
Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . According to former top executives and business partners, FoA signed a letter of intent to sell its forward mortgage retail business to competitor Guaranteed Rate , but negotiations are still in progress and remain fluid.
McKissock
SEPTEMBER 28, 2022
For even the most veteran real estate professionals, managing time can be a struggle. That’s why it’s time to take advantage of a resource that you may be underutilizing: the weekend. Sure, you’re likely taking care of some real estate tasks on the weekend, as very few in the industry get to enjoy the standard 9-5 workweek; however, there are some things you can take care of over the course of Saturdays and Sundays during lulls that don’t take too much brainpower and will
Eyes on Housing
SEPTEMBER 26, 2022
The share of homes built with patios hit a record high in 2021. Of the roughly 1.1 million single-family homes started in 2021, 63 percent came with patios. This number comes from NAHB tabulation of data from the Survey of Construction (conducted by the U.S. Census Bureau with partial finding from the Department of Housing and Urban Development). Patios on.
Appraisal Buzz
SEPTEMBER 29, 2022
In an effort to assist in the recovery after Hurricane Fiona made landfall, the Department has issued a new set of waivers offering regulatory and administrative relief to homeowners impacted in Puerto Rico. The post HUD Offers Assistance to Victims of Hurricane Fiona appeared first on DSNews. The post HUD Offers Assistance to Victims of Hurricane Fiona appeared first on Appraisal Buzz.
Housing Wire
SEPTEMBER 30, 2022
Social media app TikTok is expected to reach 1.8 billion users by the end of 2022 – will you be one of them? Many mortgage professionals are turning to the platform as a way to connect with prospective borrowers and educate them on mortgage, as well as market themselves. We spoke to UMortgage Branch Manager Arielle Best, known as the VA Loan Lady on TikTok, about the platform and how best to utilize it as a mortgage loan originator.
Lamacchia Realty
SEPTEMBER 30, 2022
Please consider donating directly to the American Red Cross Florida Disaster Relief to help those impacted by the severe damage inflicted by Hurricane Ian. Click here to Donate Now. The post Florida Disaster Relief appeared first on Lamacchia Realty.
Eyes on Housing
SEPTEMBER 30, 2022
The Census Bureau’s Survey of Construction (SOC) provides valuable information on the characteristics of new homes started construction, such as air conditioning and heating system installations. Air Conditioning In 2021, 97 percent of new single-family homes started had a central AC system, higher than 95.4 percent in 2020. The trend, going back to 2000, shows a steady rise in the share of.
Appraisal Buzz
SEPTEMBER 29, 2022
The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in August, the third month in a row and the ninth time it has fallen this year. In addition, three out of the four major regions in the country also reported declining numbers, as one region, the West, again posted a minor gain. … The post Pending Home Sales Numbers Continue Recent Slide appeared first on DSNews.
Housing Wire
SEPTEMBER 30, 2022
Non-QM real estate investment trust Angel Oak Mortgage Inc. on Wednesday announced the departure of CEO Robert Williams. The company appointed Sreeni Prabhu, a managing partner at affiliate Angel Oak Capital Advisors , as the new president and CEO. The leadership shakeup comes after two consecutive quarters of financial losses. Angel Oak Mortgage Inc., which went public last year, disclosed a net loss of $52.1 million in the second quarter and $43.5 million in the first quarter.
GoForrmz
SEPTEMBER 30, 2022
Big data and tech advances can pave the way for a smooth harvest Agriculture is one of the longest-standing industries; responsible for most of the world’s food in the face of climate change, population growth, and decreasing land suitable for crops, it’s not an easy task. While often thought of as intuitive or generational knowledge passed down through generations, ag science has grown into a vast field of study implementing the latest developments in science and technology.
Lamacchia Realty
SEPTEMBER 24, 2022
Behind the incredible REALTORS® of Lamacchia Realty is a team of over 75 staff members that work tirelessly to support, propel, and operate the independently owned brokerage. Each and every staff member plays an integral role in the continued success of the quickly growing company. Lamacchia Realty views its staff members in the highest regard, fostering the values the full service, value-based brokerage prides itself on.
Appraisal Buzz
SEPTEMBER 29, 2022
Today’s Buzzcast interview is with Joe Minnich. We sat down with Joe and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool in appraising condominium properties. What can we learn from the recent collapse of a condo building? What can lenders take away from an appraiser’s expertise regarding a property? What does the future of appraising include for the education of this topic?
Housing Wire
SEPTEMBER 28, 2022
The Federal Housing Finance Agency (FHFA) Office of the Inspector General on Wednesday said the agency has not adequately defined the rules and scope of its executive compensation practices. The OIG concluded that the agency should update its rules and procedures and determine if it has enough staff to vet executive compensation decisions. The evaluation report and succeeding memo are in response to a controversy stemming from former FHFA Director Mark Calabria’s intention to pay a Fannie Mae ex
GoForrmz
SEPTEMBER 28, 2022
How GoFormz can help your retail business this holiday season The holiday season is around the corner, and consumers are expected to spend big this year. In 2021, US retail sales grew by 16.1%–the fastest growth rate in more than 20 years! And this upward trend is only predicted to continue. According to eMarketer , holiday retail sales are expected to reach $1.26 trillion this year. “ We expect 2022 holiday retail sales to increase 3.3% to $1.262 trillion, with brick-and-mortar increasing
Lamacchia Realty
SEPTEMBER 30, 2022
Anthony Castellano has officially qualified for the 2022 President’s Club ELITE! This is his first time achieving this accomplishment and we could not be more excited to see him earn this prestigious distinction. Anthony recently joined the 2022 President’s Club and has been a member for the last three years. He is extremely hardworking and gives his clients 110%!
Appraisal Buzz
SEPTEMBER 28, 2022
Today’s Buzzcast interview is with Joe Minnich. We sat down with Joe and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool in appraising condominium properties. What can we learn from the recent collapse of a condo building? What can lenders take away from an appraiser’s expertise regarding a property? What does the future of appraising include for the education of this topic?
Housing Wire
SEPTEMBER 24, 2022
Caliber Home Loans , owned by publicly-traded Rithm Capital , issued pink slips to at least 300 employees earlier this week as soaring mortgage rates thin out already-declining origination volume. The lender has made at least four rounds of layoffs this year, multiple sources told HousingWire. An internal document viewed by HousingWire details which jobs were eliminated as part of the reduction in force on Tuesday.
Valcre
SEPTEMBER 29, 2022
For What It’s Worth Appraisals is a South Carolina-based firm with a proven track record in the residential space with 4,000 such appraisals in 2021. At the end of last year, they made the plunge into the commercial sector by adding commercially-focused Michael Burdett and Valcre to their arsenal. Learn how Valcre is helping Michael and his team expand and penetrate the commercial market.
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