Housing Wire

SEPTEMBER 23, 2020

Home prices jumped more than 2% between May and July, the largest two-month gain on record, as Americans emerging from COVID-19 lockdowns bought real estate, the Federal Housing Finance Agency said in a Wednesday report. Gains in prices were driven by mortgage rates that started tumbling to record lows after the Federal Reserve began a bond-buying program in March to prevent a credit freeze amid the pandemic-induced recession.

Finance 546

Finance Real Estate Buyers Mortgage 546

Boston Appraisal

SEPTEMBER 22, 2020

The backbone of any real estate appraisal is the highest and best use analysis. All properties have a highest and best use – and this is not always the current use. There are four qualifiers that help to determine the highest and best use of a property. The use of a property must be… Legally Permissible. Physically Possible. Financially Feasible.

Legal 148

Legal Real Estate Retail Development 148

The Robert Weiler Company

SEPTEMBER 20, 2020

Commercial property management is a year-round task as weather changes can bring unexpected complexities to inexperienced property owners throughout the seasons. Every season poses a unique set of challenges. The property you oversee must be ready for any weather condition, regardless if you’re encountering winter snow or summer winds. Managing apartment buildings, or an office, retail, or warehouse space?

Property Management 145

Property Management Tenants Inspection Contracts 145

Simonson Real Estate

SEPTEMBER 25, 2020

Since the onset of COVID, market data remains sparse for certain property types. The team at Simonson Appraisals has found that one of the best tools we have to overcome this challenge while continuing to produce reliable and credible appraisals is speaking with owners, lenders and other market participants dealing with the different segments of commercial real estate.

Valuation 130

Valuation Appraisal Marketing Real Estate 130

Housing Wire

SEPTEMBER 22, 2020

Sales of existing homes rose to a 14-year high of 6 million in August, the National Association of Realtors said in a report on Tuesday. Combined sales of single-family houses, townhomes, condominiums and cooperatively owned apartments rose 2.4% from July, according to the report. Compared to a year ago, prior to the COVID-19 pandemic, last month’s sales were 11% higher, NAR said. “ Home sales continue to amaze , and there are plenty of buyers in the pipeline ready to enter the market,” sa

Realtors 545

Realtors Inventory Finance Mortgage 545

Yolo Solano Appraisal Blog

SEPTEMBER 25, 2020

Six months after the Covid-19 stay-at-home order hit Yolo County, what’s happened to residential real estate in local markets? Sales activity in Davis was low at the start of 2020 before the pandemic hit and continued into the spring with a massive drop in May. As shown below, Davis is way behind in sales compared […].

Marketing 128

Marketing Real Estate Sellers Buyers 128

McKissock

SEPTEMBER 23, 2020

Quality tenants—those who pay on time, take care of the property, and follow the rules of their lease—are a rental property manager ‘s dream. After all, finding new tenants is expensive and time-consuming. The cost of advertising, showing the property, screening potential tenants and more eats into landlords’ profits, especially as the property sits vacant.

Property Management 98

Property Management Tenants Landlords Advertising 98

Housing Wire

SEPTEMBER 24, 2020

The average U.S. mortgage rate for a 30-year fixed loan is 2.9% this week, up from 2.87% last week, Freddie Mac said in a report on Thursday. It’s the ninth consecutive week the rate has been below 3%. The average rate for the less-popular 15-year mortgage was 2.4%, rising from last week’s record low of 2.35%, the mortgage giant said. Sub-3% rates are boosting real estate demand and fueling bidding wars.

Mortgage 544

Mortgage Real Estate Realtors Finance 544

Aspen Appraisal Group

SEPTEMBER 25, 2020

An essential aspect of selling or buying a home is the appraisal. An appraisal on a home is an unbiased evaluation of what the property is worth. This is done by a certified or licensed professional. The appraisal includes an in-person inspection of the home and its condition along with comparable home sales in the market and within the neighborhood.

Appraisal 78

Appraisal Property Taxes Market Value Lending 78

The Robert Weiler Company

SEPTEMBER 23, 2020

Owning commercial property is a huge responsibility. Most building owners and multi-family real estate investors don’t realize that property management companies can completely relieve them of the day-to-day administration of property, prospects, and tenants. The ability to outsource oversight and stewardship of commercial property removes a considerable burden of responsibility, allowing CRE owners more time to focus on generating ROI on current and future investments.

Property Management 142

Property Management Tenants Investing Legal 142

McKissock

SEPTEMBER 22, 2020

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Do you already have an Unlimited Learning Membership ?

Appraisal 96

Appraisal Tools Technology Training 96

Housing Wire

SEPTEMBER 23, 2020

Vexed by work-from-home arrangements owing to the COVID-19 pandemic, homeowners are taking the long view and rethinking floor plans. The reality is, home offices are no longer a luxury. In the initial three weeks of public health lockdowns in March, according to Gallup , the percentage of employed Americans working from home doubled to 62%. Of these workers, three in five said they’d prefer to work from home when restrictions are lifted.

Renovations 544

Renovations Insurance Home Improvement Design 544

Boston Appraisal

SEPTEMBER 22, 2020

The backbone of any real estate appraisal is the highest and best use analysis. All properties have a highest and best use – and this is not always the current use. There are four qualifiers that help to determine the highest and best use of a property. The use of a property must be… Legally Permissible Physically Possible Financially Feasible Most Productive The goal of the real estate appraiser is to identify the use of the property that will be the absolutely most profitable use within

Legal 78

Legal Real Estate Retail Development 78

Property Metrics

SEPTEMBER 19, 2020

There is a wide spectrum of lease types in commercial real estate. To make it easier to communicate with others, it is not uncommon for complicated leases to be described using simple language. The ‘double net lease’ in commercial real estate is a term that describes a certain type of lease agreement, but it’s not always as simple as it might sound.

Tenants 53

Tenants Landlords Property Taxes Real Estate 53

McKissock

SEPTEMBER 20, 2020

As a real estate agent, your income is determined by your ability to close the deal. Therefore, negotiation skills are essential. To successfully master the art of real estate negotiations, you’ll want to find the most creative and powerful strategies available. To help you out, we’ve put together a list of the eight best negotiation books for real estate agents.

Real Estate Agent 73

Real Estate Agent Real Estate Agents Contracts 73

Housing Wire

SEPTEMBER 22, 2020

Painter Kenneth Noland said, “Context is key – from that comes the understanding of everything.” Whether that is true in the world of art I could not tell you, but it is most certainly true in the world of economics. What are numbers but meaningless points? It is when those points are considered in the context of what has happened before and what we expect to happen in the future that they become imbued with meaning.

Housing Market 543

Housing Market Marketing Construction Buyers 543

REX Real Estate

SEPTEMBER 21, 2020

There’s nothing that can squash a deal faster than a bad home inspection.

Inspection 41

Inspection Home Improvement Sellers 41

Appraisal Hub

SEPTEMBER 24, 2020

Appraising the value of a commercial real estate property is never an easy task. There are many things to consider, such as the current market price, rental rate, and how much the buyer is willing to pay. If this is your first time selling or leasing a property, there are many appraisal services in Toronto that can help you. Here are commonly used valuation methods to give you an idea of what a property appraiser might use: Value per Unit – This method generally applies to apartment buildi

Valuation 78

Valuation Real Estate Appraisal Property Appraisal 78

McKissock

SEPTEMBER 25, 2020

Title XI of the FIRREA requires all licensed and certified appraisers to successfully pass an examination that’s issued or endorsed by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation. That examination is known as the National Uniform Licensing and Certification Exam. Once you’ve completed your education requirements, you must pass the national exam as the final step toward earning your appraisal license.

Real Estate 41

Real Estate Appraisal Property Appraisal Real Property 41

Housing Wire

SEPTEMBER 23, 2020

United Wholesale Mortgage , the largest wholesale lending firm in the country, is joining the blank-check company craze and will make its public debut via an acquisition. The Detroit-headquartered UWM will merge with businessman Alec Gores’ special purpose acquisition company (SPAC) Gores Holdings IV Inc in a deal that will value the new UWM at $16.1 billion, the company said in a statement Wednesday morning.

Mortgage 542

Mortgage Lending Business Inventory 542

REX Real Estate

SEPTEMBER 25, 2020

Earlier this spring, when the COVID-19 pandemic forced many people to stay at home,…

Home Improvement 36

Home Improvement 36

Housing Wire

SEPTEMBER 21, 2020

The housing and mortgage markets have been the rare bright spots in an otherwise fragile economy brought forth by the ongoing COVID-19 pandemic. Mortgage origination volume this year is on track to be the highest in more than 15 years, led by a strong wave of refinances. Just how busy have lenders been? 2003 was the last time refinance activity was as high as the $1.75 trillion MBA is forecasting for 2020.

Government 542

Government Mortgage Marketing Housing Market 542

Housing Wire

SEPTEMBER 23, 2020

Let me be contrarian: Get ready, because mortgage rates are going to rise in 2021. Now before you respond, just read the rest as to why. The Mortgage Bankers Association in its most recent forecast sees two things that stand out. First, 2020 will prove itself to be the second biggest mortgage year in history. Topping $3 trillion will put it only behind 2003 in single family mortgage production history.

Mortgage 540

Mortgage Investors Buyers Finance 540

Housing Wire

SEPTEMBER 23, 2020

Despite mortgage rates rising slightly from a previously all-time low, mortgage applications gained 6.8% last week, according to a report from the Mortgage Bankers Association. The refinance index continued its upward climb, gaining 9% last week and jumping 86% higher than the same week one year ago. Refinances also nearly reached two thirds share of mortgage activity last week, increasing to 64.3% of total applications from 62.8% the week prior.

Housing Market 537

Housing Market Mortgage Contracts Marketing 537

Housing Wire

SEPTEMBER 21, 2020

U.S. homeowners with mortgages witnessed a 6.6% year-over-year increase in their equity in the second quarter of 2020 – representing a cumulative gain of $620 billion for the nation and an average $9,800 hike in equity per homeowner, according to a new report by CoreLogic. Record-low mortgage rates and constricted sale inventory cast the perfect storm for home prices which rose 4.3% annually through June ultimately bolstering the increase in home equity, CoreLogic said in its home equity report.

Inventory 514

Inventory Mortgage Marketing 514

Housing Wire

SEPTEMBER 22, 2020

Ginnie Mae , the government-owned corporation that securitizes loans backed by the Veterans Administration and the Federal Housing Administration , said it won’t accept adjustable-rate mortgages benchmarked to the London Interbank Offer Rate, or LIBOR, starting in January. For home equity conversion mortgages, known as reverse mortgages, the ban starts Jan. 1.

Mortgage 484

Mortgage Government Investors Finance 484

Housing Wire

SEPTEMBER 22, 2020

Just two months after its public debut , Rocket Companies is looking to bulk up its wholesale operation by sweetening the pot for mortgage brokers. The Detroit-based firm, which began 35 years ago as a mortgage broker shop in southeast Michigan, is rebranding Quicken Loan Mortgage Services to Rocket Pro TPO. Included in the rebranding is an entirely new, white-labeled broker-branded origination hub that will provide e-signature technology, visibility into loan status and the ability for applican

Technology 476

Technology Tools Mortgage Business 476

Housing Wire

SEPTEMBER 21, 2020

The Office of the Comptroller of the Currency said on Monday it had settled with three former Wells Fargo executives for their roles in the bank’s fake-account scandal. The settlements include a $925,000 penalty to former Community Bank Group Finance Officer Matthew Raphaelson, a $400,000 fine to the former Head of Community Bank Deposit Products Group Kenneth Zimmerman; and a $350,000 penalty to the former Head of Community Bank Human Resources Tracy Kidd, the OCC said in a statement.

Human Resources 476

Human Resources Finance 476

Housing Wire

SEPTEMBER 21, 2020

The Federal Reserve approved a revamp of the anti-redlining rules known as the Community Reinvestment Act, or CRA, in a live-streamed meeting on Monday morning and gave 120 days for community and industry feedback. The move comes four months after Joseph Otting, head of the Office of the Comptroller of the Currency , stepped down a day after releasing his controversial reforms of CRA.

Modernization 468

Modernization Law Insurance Finance 468

Housing Wire

SEPTEMBER 23, 2020

Call it what you want – a disruption, a revolution, a transformation or perhaps a thorn in your side, there is no denying the pandemic has stirred the housing industry in all its sectors. How companies adapt and pivot while fostering their teammates’ growth may very well decide who will be on the right and wrong side of history after the gloves – and masks – come off.

Development 459

Development Business Mortgage Marketing 459

Housing Wire

SEPTEMBER 22, 2020

HousingWire recently spoke with Keith Murray, president and CEO of VRM Mortgage Services, about the importance of diversity in an organization and how VRM has continued to serve its clients in an unusual year. HousingWire: The term we keep hearing to describe 2020 is “unprecedented.” How has VRM continued to serve its clients in such unusual times? Keith Murray: VRM has always taken a community-first approach to serving the needs of our clients.

Valuation 459

Valuation Mortgage Technology Real Estate 459

Housing Wire

SEPTEMBER 21, 2020

March 2020 is a month the real estate industry will never forget. In a moment’s notice the “nice to have” tasks on our to-do lists became the new crises du jour. Over the course of a few days, much of the private real estate sector transitioned from office buildings to home offices. The most prepared companies had pandemic and business continuity protocols in place.

Real Estate 459

Real Estate Legal Government Mortgage 459

Housing Wire

SEPTEMBER 21, 2020

After hiring 120 underwriters in the past 90 days, Evolve Mortgage Services announced on Monday the company plans to fill another 100 permanent underwriter positions for agency and non-QM loans by the end of the year. Evolve’s announcement is timely as several housing executives noted companies are struggling to staff oper a tions divisions with underwriters, appraisers and notaries.

Mortgage 448

Mortgage Business Government Development 448

Housing Wire

SEPTEMBER 24, 2020

For the second consecutive month , the total percentage of accounts in “financial hardship” for auto, credit card, mortgage and personal loans fell across the board in August, according to a consumer credit snapshot by TransUnion. In particular, the percentage of accounts with mortgage loans in financial hardship declined below 6% for the first time since April to 5.92% in the month of August.

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Mortgage 435