Sat.Sep 24, 2022 - Fri.Sep 30, 2022

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Appraisal Reports Are Like Flipbooks

Cleveland Appraisal Blog

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.

Appraisal 341
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Why the Fed’s housing reset risks a global recession

Housing Wire

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.

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Chuck Norris eats 7% mortgage rates for breakfast

Sacramento Appraisal Blog

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 […].

Mortgage 383
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Can You Photograph A Smell?

The Appraiser Coach

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.

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Unlock The Blueprint: How To Construct A Better Payment Workflow

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.

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Once Upon a Time… A Housing Fairy Tale

Appraisal Buzz

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.

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An Excess of Appraisers? Part III

George Dell

Editor’s Note: This is Part 3 of the series on Excess of Appraisers and how this cyclical phenomenon is affected by the five frictions of modernization. The emerging excess of appraisers is inevitable and recurring. We have questioned the first two of the five frictions on modernization: practices, standards, education, regulation and client expectation.

Appraisal 195
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New Home Sales Up in August: Will Decline Again with Higher Rates

Eyes on Housing

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.

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Priscilla Almodovar to Serve as Fannie Mae CEO

Appraisal Buzz

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.

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With mortgage rate volatility, buyers can save by shopping around

Housing Wire

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%.

Buyers 481
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Mortgage Rates Impacting Housing- September Newsletter

DW Slater Company

“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!

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New Homes Built with Private Wells and Individual Septic Systems in 2021

Eyes on Housing

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.

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HUD Awards $5M for Repairing Low-Income Veteran’s Homes

Appraisal Buzz

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.

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New home sales are up 28% — but don’t believe the hype

Housing Wire

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.

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Slow VA Appraisal Turnaround Times Is Overblown

Appraiserblogs

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.

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Share of New Homes with Patios Sets Record for Sixth Consecutive Year

Eyes on Housing

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.

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Markets Considered Overvalued Increasing as Mortgage Rates Rise

Appraisal Buzz

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.

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FoA plans to sell retail division to Guaranteed Rate, close wholesale channel: sources

Housing Wire

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.

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Productivity Hacks For Real Estate Agents

McKissock

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

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Consumer Confidence Rises to 5-Month High in September

Eyes on Housing

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.

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HUD Offers Assistance to Victims of Hurricane Fiona

Appraisal Buzz

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.

Appraisal 195
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LOs, senior managers among the 300+ cut in latest Caliber layoff

Housing Wire

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.

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How Big Data Can Support Your Harvest Season

GoForrmz

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.

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Almost Even Split Between Natural Gas and Electric Heating Systems in New Homes

Eyes on Housing

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.

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Pending Home Sales Numbers Continue Recent Slide

Appraisal Buzz

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.

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Top tips for mortgage professionals using TikTok

Housing Wire

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.

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Digital Forms for the Holiday Shopping Season

GoForrmz

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

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Florida Disaster Relief

Lamacchia Realty

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.

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Appraisers in the Condo

Appraisal Buzz

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?

Appraisal 195
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Fannie Mae launches rent payment reporting pilot program

Housing Wire

Fannie Mae on Tuesday launched a pilot program to help renters of multifamily properties build their credit histories and improve their credit scores. Effective Sept. 27, eligible multifamily property owners can share rent payment data through a vendor network to TransUnion , Equifax , and Experian in the renter’s credit profile. “Around 20% of the U.S. population has little to no established credit history, a group in which Black and Latino/Hispanic people are disproportionately represent

Landlords 417
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Q&A with Valcre user: Michael Burdett of For What It’s Worth Appraisals

Valcre

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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Foreign buyers' ban proposals: private lending association reacts

Mortgagebroker News

The government intends to prevent home purchases by foreign buyers starting from January

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Appraisers in the Condo

Appraisal Buzz

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?

Appraisal 195