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Homebuyers who are juggling work and school from their home want more space, triggering an increase in the number of sales of large homes. According to Redfin , sales for large homes were up 21.2% year over year nationwide in July, compared to a 10% increase for medium-sized homes and a 2.3% increase for small homes. Redfin categorized large homes as those between 3,000 and 5,000 square feet, medium homes between 1,500 and 3,000 square feet, and small homes between 300 and 1,500 square feet.
On March 11, 2020, the World Health Organization announced COVID-19 as a global pandemic (this day also happens to be my birthday so good or bad, it’s an easy date for me to remember). Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. . At Simonson Appraisals, our team works tirelessly to ensure those worries are needless.
In order to do appraisals for FHA loans (including reverse mortgages and REO properties), you must be listed on the FHA appraiser roster. Below, we’ve provided answers to several common questions regarding how to get on the FHA roster. Whether you’re a new applicant or a former FHA roster appraiser, we hope you find the following information helpful.
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.
According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept. 1. According to the article, the FHFA is considering a delay to the adverse market fee implementation date, but is not planning to rescind it.
Whether you need an estate tax appraisal, an estate trust appraisal or a probate estate appraisal, we have the experience to help. The type of estate appraisal and the intended us will impact how an appraiser prepares an appraisal report. Estate appraisals by a licensed and experienced real estate appraiser are the most accurate and defensible way to value a property.
Whether you need an estate tax appraisal, an estate trust appraisal or a probate estate appraisal, we have the experience to help. The type of estate appraisal and the intended us will impact how an appraiser prepares an appraisal report. Estate appraisals by a licensed and experienced real estate appraiser are the most accurate and defensible way to value a property.
July was yet another banner month for the real estate market across Texas. In all major markets, we are seeing record setting numbers for multiple metrics such as appreciation rates and number of closed sales. “Pent-up demand from the spring fueled housing activity across the state,” said Dr. James Gaines, chief economist for the Real Estate Center at Texas A&M University.
Here at McKissock, our Unlimited Learning Members enjoy 24/7 access to a wide array of online resources for real estate appraisers. These resources cover a huge variety of topics, from home construction to USPAP compliance to retirement planning, and much more. If you’re beginning to prepare for retirement (it’s never too soon!), here are four excellent retirement resources available right now in our membership toolkit.
The line between traditional iBuyer and brokerage is getting ever-so-blurry for venture-backed startup Opendoor. The company, armed with $1.5 billion in VC funding, is looking to bring aboard real estate agents in Phoenix, Arizona, to support its “Home Reserve” iBuying platform, according to Inman , which spotted a jobs posting Friday morning.
REX and Repair Pricer teaming up to deliver remote home repair estimation services to real estate clients and agents, AI technology speeds up inspection reports and estimates to 24 hours or less.
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.
Here at ListingSpark, we work with A LOT of sellers who start out as a For Sale By Owner. For that reason, I put together a list of 5 tips every FSBO (For Sale By Owner) should know. This came about because I am always amazed at the misinformation that exists in the FSBO world. 1) Zillow DOES NOT care if you actually sell. What most For Sale By Owner sellers don’t realize is that nothing in life is actually free.
Even if you’re not working with buyers who are in the market for a million-dollar home, you can still learn from luxury real estate brokers. After all, selling is selling. Here are four tips from luxury brokers that you can incorporate when selling a home. Brand Yourself. Laurie Moore-Moore of the Institute for Luxury Home Marketing recommends you be the high-powered professional real estate broker everyone pictures in their mind.
Four days ahead of its previous expiration date, the Federal Housing Finance Agency extended its moratorium on foreclosures and evictions for borrowers with mortgages backed by Fannie Mae and Freddie Mac until Dec. 31. After its prior extension to Aug. 31 in June, the agency said it intended to monitor the effects of the coronavirus and update policies as needed.
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.
Almost 80% of economists say there’s at least a one-in-four chance of a double-dip recession, following a record 32.9% plunge in GDP in the second quarter, according to a survey released on Monday from the National Association for Business Economics. About 40% of respondents rate the COVID-19 response from Congress as “insufficient” and 37% said it’s “adequate,” according to the survey that summarized the opinions of 235 members and was conducted between late July and early August.
Average U.S. mortgage rates for a 30-year fixed loan fell to 2.91% this week, the second-lowest level on record, Freddie Mac said in a report on Thursday. The rate declined from 2.99% last week , the mortgage financier said. The average rate for a 15-year fixed home loan fell to 2.46% from 2.54%. “This year has been anything but normal and as the uncertainty lingers, mortgage rates remain near record lows,” said Sam Khater, Freddie Mac’s chief economist.
One of my favorite aspects of working for HousingWire over the past two years has been helping the company expand our real estate coverage. There is so much changing every day in the real estate technology landscape, and whether it’s through our HousingStack or our Real Estate D emo Days , we want to help real estate professionals stay current.
The Federal Housing Finance Agency announced on Tuesday it is delaying the implementation of its adverse market refinance fee to Dec. 1 – three months past its intended start date. But what about lenders whose refi loans were locked with closing dates after Sept. 1 and carrying the 50bps LLPA? Phil Shoemaker, president of originations at Home Point Financial , said that for every Home Point borrower who had the adjustment added, the fee will be removed.
Federal Reserve Chairman Jerome Powell on Thursday announced a major shift in monetary policy that will allow the central bank to use inflation averaging, rather than the current practice of setting a hard target. Speaking at a video-only version of the Federal Reserve Bank of Kansas City ’s annual conference, Powell said the Fed will no longer raise its benchmark rate to keep unemployment from falling too low and will allow inflation to run slightly higher than the current 2% target after perio
U.S. pending home sales rose 5.9% in July, the third consecutive month of gains, fueled by low mortgage rates and unprecedented demand from consumers. The seasonally-adjusted index measuring signed contracts was up 15.5% year over year, largely on the back of pent-up demand from buyers who were unable to strike deals during the spring, said Lawrence Yun, chief economist of the National Association of Realtors.
In the age of COVID-19, Peck Barham knew that prospective home buyers would pepper him with questions about home offices as they decamped downtown Birmingham for the spacious suburbs. But the agent with TeamBarham, Keller Williams Homewood didn’t expect the grub question. “The Birmingham Metro has a large suburban population and we have seen a larger than usual pattern to being outside the downtown district,” said Barham. “However, they do want to make sure they stay within the
If the Great Recession never happened, how would potential homebuyers be looking at today’s housing market? . After all, the giant cohort of potential homebuyers now in their late 20s and early 30s was also the generation fresh out of college trying to find a job as the market was crashing in 2008. They remember the struggles of trying to find a job, and they remember the large swath of inventory on the market that made home prices drop lower and lower. .
e-Closing platform Pavaso announced on Monday it has been awarded the Remote Online Notarization Compliance Certification through the Mortgage Industry Standard Maintenance Organization – making it the fourth company to receive the specialized certification. Originally introduced in April, the MISMO RON compliance certification was designed to assure RON tech providers meet a universal set of standards including credential analysis, borrower identification, capturing and maintaining a recording
Several times a month, the National Multifamily Housing Council (NMHC) releases data from its Rent Payment Tracker, a measure of the number of tenants who have paid rent that month. Its most recent update, issued on Aug. 24, found that 90% of apartment households had made a full or partial rent payment by Aug. 20. Great news, right? Robyn A. Friedman HW+ Columnist.
James Kleimann is joining HousingWire as Mortgage Editor to help the company sharpen coverage in housing finance, while also expanding into other housing verticals like real estate, title/escrow and appraisal. Working alongside HousingWire Editor in Chief Sar a h Wheeler , Kleimann will spearhead the editorial strategy for housing coverage on HousingWire.com. .
Operations have become increasingly important in today’s environment, and some companies have even offered sign-on bonuses for these roles as the need for them heightens. Many of the 2020 HW Insiders are from these operations roles, and their talent was put to the test during unprecedented times. And these operations superstars guided their companies through it with ease – from moving workforces remote to creating new digital elements in a time of social distancing.
Mortgage Research Center , which does business as Veterans United Home Loans , is holding a virtual career showcase Wednesday, September 2, for all interested job applicants. According to Veterans United, the showcase will allow potential job candidates an opportunity to view the company’s culture, diversity and inclusion programs and available career opportunities in a more personal setting.
Initial claims for unemployment benefits fell to 1 million last week from 1.1 million in the prior period, the Labor Department said in a Thursday report. “The up and down moves of recent weeks underscore that the recovery will be slow-going as long as the virus continues to circulate,” Wells Fargo economists said in a report. Even with the decline, the level was “still higher than any week during the Great Recession.”.
Note: This is part four of a five-part series. Over the following weeks, Todd Duncan, sales entrepreneur and New York Times best-selling author, will showcase principles for mortgage and real estate professionals to embrace for success. Find more advice in his first , second , third and fourth pieces. I was in the back of an Uber having just landed in Boston.
HousingStack is a real estate technology landscape that provides a dynamic visual that reflects the rapid changes in the sector. The HousingStack is exclusively for HW+ members. To join the HW+ community, go here. Keeping on the theme of leads , leads , leads , I’m going to highlight some of the products that focus almost exclusively on this area. You could argue that many of the companies we’ve covered so far in the HousingStack help in lead conversion, and you’d be correct.
Gateway First Bank officially named Scott Gesell CEO and general counsel after serving as CEO on an interim basis since April 3. He will also join the board of directors of Gateway as a director. In the seven years that Gesell has been at Gateway First Bank, he has been a part of the executive management team responsible for the growth of Gateway, playing a key role in the in the formation of the bank in 2019, which was born out of the merger of a 100-year-old community bank with Gateway Mortgag
At McKissock Learning, we want our customers to have all the resources they need to be successful in real estate. That’s why we’ve teamed up with RISMedia , the leading provider of the most relevant and up-to-date information related to the residential real estate market. As their Strategic Education Partner, we are able to give our customers free access to the digital edition of the RISMedia monthly magazine.
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