Housing Wire

MARCH 19, 2021

Determining the value of a home depends on both art and science. With the increasing availability of massive amounts of housing data and the ability to analyze that information. Analysis of millions of pieces of disparate data informs nearly every decision made involving residential real estate. Todd Teta – guest columnist March HW Magazine. Consumers, real estate agents, investors, mortgage lenders, insurance companies and other financial institutions need accurate valuations to inform th

Real Estate Agent 545

Real Estate Agent Real Estate Insurance Investors 545

Miller Samuel

MARCH 17, 2021

Last Friday I had a fun discussion with Lisa Abramowicz on Bloomberg Surveillance. It's been bedlam in Appraiserville so I've been slow to post it. The New York to Florida housing migration story has been a bit one sided with optics that suggest 9 people will be left in Manhattan by the summer time despite that Manhattan contract activity beginning to surge.

Contracts 372

Contracts Real Estate Appraisal 372

The Appraiser Coach

MARCH 16, 2021

Many of us throw ourselves into our work because we love it. We love it so much we forget to take regular breaks, but it’s such an important thing to. Read More.

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Inspection Advertising Business Real Estate Agent 221

Cleveland Appraisal Blog

MARCH 18, 2021

As a child, many of my best friends had darker skin than mine. Fortunately, I grew up in a family whose view is that all people are equal, and that differences in race, skin color and background, are what make humans so beautiful. Sadly, there are some that do not share that view. . As a teenager, my friends would describe to me experiences they had in retail stores, in which they were watched uncomfortably closely by store clerks.

Appraisal 195

Appraisal Investors Market Value Contracts 195

Housing Wire

MARCH 19, 2021

A growing chorus of mortgage industry observers believe the final week of February might have been the last hurrah for sub-3% mortgage rates. And the proof is in the refi pudding. With mortgage rates making their ascension , many late-to-the-game homeowners hopped on the chance to refinance their home loans and pushed refi volume to 68% of all closed loans in February, according to the latest originations report from ICE Mortgage Technology.

Technology 543

Technology Mortgage Tools Inventory 543

George Dell

MARCH 17, 2021

Legacy appraisal practice “the valuation process” is well established. Therein lies the problem. It is not designed to use modern methods toward objective, unbiased results. First, lets distinguish the different kinds of bias. We need to separate personal bias from analytic bias. Personal bias can be intentional, or unintentional (unconscious). Analytic bias itself can come […].

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Appraisal Modernization Valuation Design 195

Midtown Appraisal Group

MARCH 19, 2021

This infographic (below) from The Appraisal Institute has been around for a couple of years now, but I came across it again recently and I think it’s still worth a look, especially if you’re new to the appraisal process. (NOTE: The infographic refers to federal legislation in the US, and some of those laws may […].

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Appraisal Appraisal Process Law Mortgage 151

Housing Wire

MARCH 15, 2021

I hear a lot of chatter about a boom in cash-out refinances, and the presumption seems to be that this is destined to wreak havoc on the housing market and the economy at some point. Cash-out loans have been growing over the past few years and it is also true that we have a recent history of excessive equity extraction factoring in a bust in housing.

Lending 543

Lending Housing Market Mortgage Marketing 543

Working RE

MARCH 16, 2021

> E&O/GL Insurance for Home Inspectors Competitive Rates, Broad Coverage, Free Risk Management, online inspection support for tough questions, discounts on education and more. Professional Coverage, Competitive Pricing Shop OREP today! >> Editor’s Note: To help you stay up-to-date and connected, OREP/Working RE has established a Coronavirus (COVID-19) Discussion and Resource Page where you […].

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Inspection Insurance 146

Appraiserblogs

MARCH 19, 2021

…how to prevent a low appraisal in the first place… As real estate brokers in New York City, many buyers ask us what options exist if the appraised value comes below the contract’s purchase price. We explain how the appraisal rebuttal process works and how to prevent a low appraisal in the first place. Here are the most frequent questions buyers ask us.

Appraisal 144

Appraisal Contracts Real Estate Buyers 144

DataMaster

MARCH 17, 2021

Real estate transactions should be bias-free. As most appraisers know, the Appraisal Foundation issued an exposure draft of a complete revision of Advisory Opinion 16 on March 1st. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16. Advisory Opinion 16 made its debut in USPAP’s 1997 edition.

Appraisal 141

Appraisal Inspection Property Appraisal Law 141

Housing Wire

MARCH 18, 2021

For the third consecutive week, mortgage rates pushed past 3% – with the average mortgage rate for a 30-year fixed loan up four basis points last week to 3.09%, according to Freddie Mac ’s Primary Mortgage Market Survey. Rising mortgage rates typically signify a recovering economy, and despite applications for mortgages dropping week-over-week, according to Sam Khater, Freddie Mac’s chief economist.

Supply Chain 535

Supply Chain Mortgage Buyers Inventory 535

D Fritz Appraisals

MARCH 16, 2021

Be Prepared for an Appraisal for a Positive Impact on Your Home’s Valuation. Whether you’re selling, refinancing, dividing assets, settling an estate, or determining capital gains on an income property , it pays dividends to be prepared for your home appraisal. The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property.

Appraisal 130

Appraisal HOA Easement Valuation 130

Appraiserblogs

MARCH 15, 2021

FTC vs LREAB Update The Supreme Court has denied the Louisiana Real Estate Appraisers Board’s petition to intervene in the administrative case for price fixing by the FTC. The FTC trial is scheduled to proceed on April 20, 2021. VaCAP is closely following this case and will update you as it proceeds. To view all the activity for this case, go to the FTC’s webpage here.

Appraisal 133

Appraisal Real Estate Appraisal Process Finance 133

McKissock

MARCH 16, 2021

If you ask appraisers to provide examples of complex appraisal assignments , many will focus on commercial or mixed-use properties or two- to four-family properties. However, many single-family home appraisals are considered complex assignments. Below, we provide the definition of a complex property and dig into the three types of residential complex properties.

Architecture 101

Architecture Property Appraisal Construction Appraisal 101

Housing Wire

MARCH 19, 2021

National homebuilder Lennar Corp. plans to spin off all its non-core businesses to become a pure-play homebuilder and financial services company, the company announced on Wednesday. In an earnings call this week, Lennar executive chairman Stuart Miller said the move would maximize the technology investments made through LENx , the company’s primary investment vehicle.

Development 529

Development Investing Business Construction 529

Working RE

MARCH 16, 2021

“One of the best courses that I have had in 17 years!” -Amy H >> OREP E&O ????? “They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Editor’s Note: Take the NEW 2021 Appraiser Fee Survey online now at WorkingRE.com/2021survey. How to Fight Blacklisting by Isaac Peck, Editor Being blacklisted by a real estate […].

Real Estate 88

Real Estate Appraisal 88

Appraiserblogs

MARCH 17, 2021

Bill A5185 and AMC Bill A5146 introduced to the state legislature in New Jersey show just how much state legislators don’t understand the appraisal profession. Valuation Legal warned us about this back in December: Appraiser and AMC Laws to Include Prohibitions Against Discrimination. From Bill A5185: 2. a. Prior to the initiation of a residential property appraisal, a holder of a license or certification under P.L.1991, c.68 (C.45:14F-1 et seq.) or registration under P.L.2017, c.72 (C.45:14F-27

Appraisal 121

Appraisal Law Legal Property Appraisal 121

Assurance Financial

MARCH 18, 2021

Does Refinancing Affect Your Taxes? Homeowners may choose to refinance for many reasons. Refinancing could potentially lower your monthly payments , allow you to consolidate debt, speed up the payoff process for your mortgage, eliminate your private mortgage insurance (PMI) and put more cash in your pocket. If you have equity in your home, you may be able to leverage it through a refinance.

Property Taxes 85

Property Taxes Renovations Home Improvement Mortgage 85

Housing Wire

MARCH 15, 2021

Zillow is the elephant in the room, and Mynor Herrera doesn’t know whether to feed it, ignore it, or find a mouse. Herrera at first felt he needed to work with Zillow, and he sent a check to the company each month in exchange for leads. But the head of Mynor & Associates , a Keller Williams affiliate in Bethesda, Maryland, grew frustrated. “We used to attribute 25% of our business to Zillow,” Herrera said.

Real Estate Agent 516

Real Estate Agent Real Estate Agents Brokerage 516

McKissock

MARCH 14, 2021

Having a website and running a blog does not suffice to market your real estate business in 2021. Social media marketing has been growing in significance over the last few years, and the COVID-19 pandemic has further accelerated this trend. As a real estate agent or broker, you have to get on social media if you want to be able to compete in the industry and to continue generating leads.

Real Estate Agent 82

Real Estate Agent Real Estate Agents Marketing 82

BiggerPockets

MARCH 18, 2021

There are several misconceptions about rent-controlled properties. For some, they can be a great addition to their investment portfolio. In this article, we look at the good and the bad of owning this type of asset.

Landlords 81

Landlords Investing 81

Empire Appraisal Group

MARCH 18, 2021

Unhappy with the Eviction Ban? A Federal Judge Agrees. Source: Unhappy with the Eviction Ban? A Federal Judge Agrees | Florida Realtors. By Justin Boggs. A federal judge ruled the eviction ban is unconstitutional and has never been done before – but he didn’t issue an injunction stopping it, and DOJ says it will appeal. NEW YORK – On Monday, the Consumer Financial Protection Bureau (CFPB) released data suggesting that 2.1 million Americans are more than three months behind on paying rent.

Landlords 78

Landlords Government Tools Realtors 78

Housing Wire

MARCH 15, 2021

The industry is now less than two weeks away from the one-year anniversary of the CARES Act, which provided borrowers with federally backed mortgages the option to receive forbearance for up to 180 days. After many extensions and exits, the Mortgage Bankers Association estimates 2.6 million homeowners are still in some form of forbearance, though that number continues to slowly fall.

Mortgage 497

Mortgage 497

DataMaster

MARCH 17, 2021

Real estate transactions should be bias-free. As most appraisers know, the Appraisal Foundation issued an exposure draft of a complete revision of Advisory Opinion 16 on March 1st. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16 Advisory Opinion 16 made its debut in USPAP’s 1997 edition.

Appraisal 78

Appraisal Inspection Property Appraisal Law 78

Yolo Solano Appraisal Blog

MARCH 17, 2021

The pandemic has changed all of our lives in the past year. In local real estate, activity paused in March and April as shelter-in-place orders took effect. The Fed dropped interest rates to zero, pushing mortgage rates to historic lows. Homes became more affordable but inventory (the amount of time to sell the current number […].

Real Estate 78

Real Estate Inventory Marketing Mortgage 78

BiggerPockets

MARCH 19, 2021

Millennials lag behind other generations in homeownership. There are a number of reasons why—here, we analyze the various explanations.

Real Estate 74

Real Estate 74

Housing Wire

MARCH 18, 2021

In the wake of an ultimatum that mortgage brokers couldn’t use Rocket Pro TPO an d Fairway Independent Mortgage while still sending loans to United Wholesale Mortgage , Mat Ishbia declared victory. In a statement issued after Monday’s deadline, the president and CEO of UWM said that more than 10,000 broker shops have pledged to no longer work with Rocket and Fairway , whom he said have been working behind the scenes to destroy the broker channel.

Mortgage 459

Mortgage Lending 459

DataMaster

MARCH 17, 2021

Real estate transactions should be bias-free. As most appraisers know, the Appraisal Foundation issued an exposure draft of a complete revision of Advisory Opinion 16 on March 1st. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16. Advisory Opinion 16 made its debut in USPAP’s 1997 edition.

Appraisal 78

Appraisal Inspection Property Appraisal Law 78

National Association of Realtors

MARCH 18, 2021

Peter Gallo, Chair of the NAR's Real Property Valuation Forum presents a live form featuring a panel of residential, commercial, and review appraisers.

Appraisal 71

Appraisal Valuation Real Property 71

BiggerPockets

MARCH 17, 2021

Should real estate investors follow the 2% rule? We break down fact and fiction—and explain why it shouldn't drive your decisions.

Real Estate 74

Real Estate Investors 74

Housing Wire

MARCH 18, 2021

Savor the irony: A blank-check company started by Spencer Rascoff is bringing an iBuyer, Offerpad, public. Offerpad , a Phoenix-based company, said Thursday that it was bought by a Rascoff-controlled special purpose acquisition company, named Supernova Partners Acquisition Company. Supernova Partners will shepherd Offerpad onto the New York Stock Exchange, according to a press release.

Real Estate 459

Real Estate Real Estate Agent Loan Officers Technology 459

Valuation Review

MARCH 17, 2021

While mortgage lenders have been buying and installing technology at a rapid pace since the COVID-19 pandemic began, many aren’t actually using it as much as they could be, according to the latest Insights Report from mortgage advisory firm STRATMOR Group. Read on to learn more.

Technology 60

Technology Mortgage 60

McKissock

MARCH 17, 2021

Written by Debbie De Grote. It is very common for agents to be excited about increasing their sales price to sell properties in the high-end and luxury home market. Maybe you’ve watched a few of the luxury real estate reality shows, and they sure make it look glamorous, don’t they? As a coach to many superstars in luxury home markets across North America, I can tell you that what you see on TV shows is not the reality of what really goes on in the trenches.

Marketing 52

Marketing Luxury Properties Real Estate Sellers 52