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Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows. I talked about having a 23% price-growth model for the housing market in the years 2020-2024 as a critical marker of balanced growth versus overheating, especially as inventory had been falling for years right into our critical demographic patch.
“The housing market is getting back to normal.” I hear that quite a bit, but is it true? Well, yes and no. Let me explain. UPCOMING (PUBLIC) SPEAKING GIGS: 7/15/2022 Lunch & Learn Market Update (sign up (for real estate agents)) 7/20/2022 Beer & Stats at Out of Bounds (sign up (for real estate agents)) 7/26/2022 […].
Mortgage applications has decreased 1.7% on a seasonally adjusted basis from one week earlier, according to Market Composite Index data from the Mortgage Bankers Association ’s (MBA) Weekly Mortgage Applications Survey for the week ending July 8, 2022. On an unadjusted basis, the index decreased 13% compared with the previous week. This week’s results include an adjustment for the observance of Independence Day.
How do Standards effect the excess of appraisers? The excess of appraisers is cyclical. It persists by the five forces of friction: practices, standards education, regulation, and client expectation. In this blog issue, we consider the second friction (appraisal standards). Together and separately these prevent improvements in valuation, including additional services of risk measurement, forecasting, […].
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Wells Fargo ‘s second-quarter earnings reflect the broader challenges mortgage lenders face in such a turbulent market – in just six months, a rapid rise in mortgage rates has eroded consumer demand, shocked capital markets and forced mass industry layoffs. And those fundamental challenges are not going away anytime soon. The third-biggest U.S. mortgage lender by volume on Friday reported a decline in originations, a decrease in gain-on-sale margins and lower revenues from the re-securitiz
Imagine yourself on a crisp sunny day in February bombing down a hill of fresh powder in your new skis… can you picture it? Or maybe instead of shredding the. Read More.
Imagine yourself on a crisp sunny day in February bombing down a hill of fresh powder in your new skis… can you picture it? Or maybe instead of shredding the. Read More.
The number of homes for sale nationwide in June rose 2%, the first annual increase since July 2019 —according to a new report from Redfin. Supply has built up as the combination of 5.5%-plus mortgage rates, high home prices and a faltering economy push more buyers to the sidelines, thereby creating a more balanced market. … The post Housing Supply Rises for First Time in Nearly Three Years appeared first on DSNews.
Over the first five months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 473,997. On a year-over-year (YoY) basis, this is a 2.0% decline over the May 2021 level of 483,878. Year-to-date ending in May, single-family permits declined in three out of the four regions. The South posted a moderate increase of 1.0% while the.
Four new mortgage-servicing rights (MSR) offerings for agency loan portfolios valued at some $3.7 billion hit the market as the third quarter of the year kicked off. Alexandria, Virginia-based advisory and brokerage firm Prestwick Mortgage Group , along with its strategic partner, San Diego-based Mortgage Capital Trading (MCT), recently released bid documents for two separate MSR offerings involving loan portfolios valued at $1.85 billion in total.
The chief of the Brookings Institution, a retired four-star general, resigned last month under investigation of lobbying on behalf of a foreign government and then covering it up. If the allegations are true, it means the think tank, under the general’s watch, was secretly taking illicit cash from at least one outside interest group at a time it was engaged in research that irreparably damaged the reputation of the nation’s real estate appraisers.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
The results of Fannie Mae ’s twenty-sixth reperforming loan sale transaction include the sale of approximately 4,390 loans totaling $889.75 million in unpaid principal balance (UPB), divided into two pools. The winning bidders of Pool 1 and Pool 3, respectively, were Pacific Investment Management Co. LLC (PIMCO) and Kah Capital Mortgage Credit Master Fund II LP, each awarded individually.
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter of 2022 posted a reading of 77, declining 10 points from the second quarter of 2021. This is the largest year-over-year decrease since the survey was redesigned in Q1 2020. The RMI is based on a survey that asks remodelers to rate various aspects of the residential remodeling market.
One statistic in the Mortgage Bankers Association ’s latest quarterly Mortgage Bankers Performance Report sticks out for all of the wrong reasons. In the first quarter of 2022, the average cost to originate a mortgage for an independent mortgage bank was more than $10,000 per loan, rising for the seventh consecutive quarter and breaking previous report records. .
Improve your practice’s processes with technology Building a medical practice means staying up to date on the latest technologies and digital solutions for your practice as well as your patients. When was the last time you did a full audit of all the technological solutions your business is running? Everything from your digital patient intake forms to your electronic communication methods counts as a part of your tech stack, so that list may be long.
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.
While homeownership is one of the cornerstones of the American Dream, realistically owning a home is just not in the cards for segments of the population. Renting, either by choice or by circumstance, will be the primary way they house themselves for the majority of their lives. All-in-all, some 44 million households rent on an annual … The post Where Can Renters Find the Best Deals?
Since the relatively low point at the onset of the pandemic on April 17, 2020, lumber prices have been volatile, with record setting spikes interspersed with periods of substantial declines. On balance over the entire period, however, softwood lumber prices have increased enough to add $14,345 to the price of an average new single-family home, and $5,511 to the market.
Rocket Companies ‘ subsidiary Edison Financial will rebrand as Rocket Mortgage next month in Canada, a market with more than $760 billion (CAD) in mortgage originations annually. Mortgage brokerage Edison Mortgage, which works with more than 50 lenders, reached $1 billion (CAD) in annualized submitted volume in March 2020, according to the firm.
Appraisers, back in April, I was notified by someone “close to the action” of appraisal report submittals to the GSE’s, that many Desktops are being submitted back to lenders TOTALLY WRONG by the assigned appraisers! These reports are being captured and evaluated in the current Desktop observation and testing phase of the UCDP evaluations. Lenders use the UCDP as an initial report Quality Control check so that any problems can be identified, and sent back to the appraiser for correction, before
Against the backdrop of one of the toughest housing markets in history, Ginnie Mae helped support affordable homeownership and rental unit development for more than 164,000 households in June. The post Ginnie Mae MBS Monthly Issuance Reaches $46B in June appeared first on DSNews. The post Ginnie Mae MBS Monthly Issuance Reaches $46B in June appeared first on Appraisal Buzz.
Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows that the rising trend of single-story homes reversed in 2021. The share of single-story homes decreased in 2021 and the share of two or more stories homes started was greater than one story homes. This is in line with recent NAHB analysis of new.
High lumber prices are often blamed for high home prices. I recently saw a $60k home price reduction offered by a builder because “lumber prices have fallen…we are passing that savings to you.” That just doesn’t add up. In a blog post from January 4 , the National Association of Home Builders said that the 167% rise from last summer’s low lumber prices to over $1,000 per thousand board feet (mbf) added only about $18,600 to the cost of a home.
How do you determine the investment value of a property? Well, it’s an art. It’s not like valuing a house in which you are going to live. That would be the homeowner value. When estimating a property’s investment value, there are a variety of real estate valuation methods you can use. In this article, we’ll walk through several techniques and discuss the advantages and disadvantages of each.
The number of homes for sale nationwide in June rose 2%, the first annual increase since July 2019, according to a new report from Redfin. Supply has built up as the combination of 5.5%-plus mortgage rates, high home prices and a faltering economy push more buyers to the sidelines, thereby creating a more balanced market. Home sales fell nearly 16% from a year ago, the largest decline since May 2020.
Consumer prices reached a new 40-year high in June as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the fourth straight month for inflation above an 8% rate and was the largest year-over-year gain since November 1981. Both energy and shelter index recorded their largest annual gains since April 1980 and February.
Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. Sitting in traffic, Tomaszewski wished he could pay an Uber driver to take the photos instead. “When we started, the idea was to obtain exterior photos as fast as possible, at a time when Uber, Lyft and marketing technology was advancing, and anyone with a smartphone could get exterior photos,” said Toma
Aldridge Electric saves time with integrations and an easy-to-use interface for all devices. “ Document visibility is one of our top benefits with GoFormz. Paperwork isn’t being lost, and it isn’t difficult to get to. ” — Nathan Skandera, Quality Manager at Aldridge Electric. The Challenge: Having used multiple digital form solutions in the past, Aldridge Electric needed a system to integrate with Procore and keep accurate records of their safety forms, with a mobile-friendly sol
Prospective buyers thwarted by record-high prices and inflationary issues may find relief in the coming weeks as Realtor.com notes softening demand and rising supply may give way to more buying opportunities. The post Cost of Homes Adjusting to a New Market Equilibrium appeared first on DSNews. The post Cost of Homes Adjusting to a New Market Equilibrium appeared first on Appraisal Buzz.
Average hourly earnings for residential building workers* continue to rise in May as the construction labor market remains tight, meanwhile the growth rate is trending down given tightening financial conditions and increased economic uncertainty. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers were $29.18 in May 2022, increasing 5% from $27.79.
In today’s fast-paced real estate market, results and creative problem solving are the name of the game, which are two keys areas that Nick Bailey, president and CEO of RE/MAX , is more than skilled at. This is why HousingWire is honored to include Bailey in the list of speakers for HW Annual 2022. Attendees can find Bailey on the stage Tuesday morning , October 4th.
Nearly Half of US Homeowners Considered ‘Equity Rich’. As home prices continue to increase, homeowners are getting richer and richer. About 45% of mortgaged residential properties in the U.S. were considered “equity rich” in the first quarter, up from about 32% a year earlier, according to a new report from ATTOM Data Solutions. Equity rich means that the combined estimated amount of the loan balance on the home was no more than 50% of the home’s estimated market value.
ATTOM ’s Midyear 2022 U.S. Foreclosure Market Report shows there were a total of 164,581 U.S. properties with foreclosure filings – default notices, scheduled auctions or bank repossessions – in the first six months of 2022. That figure is up 153% from the same time period a year ago but down just 1% from the same time period two years ago. “Foreclosure activity across the United States continued its slow, steady climb back to pre-pandemic.
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