Appraisal Buzz
OCTOBER 21, 2024
Student loans are frequently listed as the primary obstacle for young buyers’ c. But even though loan debt is higher than ever, are loans really the barrier some claim them to be? A new study from First American reviewed the data from the 2022 Survey of Consumer Finances to determine exactly how much impact student loan debt has on the search for home ownership.
Housing Wire
OCTOBER 21, 2024
Since 2019, the state of Florida has built more than 77,000 new properties in areas with a high risk of flooding. This is the most among all states, according to an analysis by climate-modeling firm First Street Foundation on behalf of the The Wall Street Journal. The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said.
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Sacramento Appraisal Blog
OCTOBER 23, 2024
Properties were selling in lightning speed a few years ago, but that’s not the vibe today. The truth is it could easily take twice as long to sell today, but the stats actually feel somewhat normal. I wonder if we’ve forgotten what the market used to feel like before 2020. Let’s talk about it. UPCOMING […] The post Stop expecting lightning speed in real estate first appeared on Sacramento Appraisal Blog.
Inman
OCTOBER 22, 2024
Creating content for your website, communicating with your sphere of influence and marketing your latest listing are all easy with the help of artificial intelligence, Luke Babich writes.
Advertiser: Trellis
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.
Appraisal Buzz
OCTOBER 22, 2024
According to a new study by LendingTree , the current state of the home buying market seems so unattainable for many, as the American dream of home ownership continues to elude many hampered by continued affordability concerns. More specifically, for renters, LendingTree found that 62% of those who rent expressed that they are worried they will never be able to own a home.
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Eyes on Housing
OCTOBER 23, 2024
Despite recent easing mortgage rates and improved inventory, existing home sales fell to a 14-year low in September as elevated home prices are causing potential buyers to hold out for lower rates, according to the National Association of Realtors (NAR). Sales remained sluggish as the lock-in effect kept home prices elevated. However, we expect increased.
Inman
OCTOBER 25, 2024
Situated on nearly three acres, the property features 11 bedrooms, 14 bathrooms, a wine cellar, staff rooms—both added during the Elies’ renovation — and a swimming pool. Despite these extensive upgrades, the Elies ultimately found the home too large and chose not to move in.
Appraisal Buzz
OCTOBER 24, 2024
A monthly report on commercial foreclosures in the U.S. has been provided by ATTOM. According to the research, commercial foreclosure rates are still high and far higher than they were before to the epidemic. The number of foreclosures increased dramatically beginning in June 2023, reaching a peak of 752 in May 2024 before leveling off at 695 in the most current data released by ATTOM in September 2024.
Housing Wire
OCTOBER 25, 2024
Many renters think they’re saving money by renting, but long term, that might not be true. In some of the U.S.’s largest metros, a monthly mortgage payment is less expensive than the average rent. But there are many factors surrounding affordability—how do city dwellers make this decision? A new report from Zillow Home Loans outlines some key trends and factors for renters to consider when evaluating a home purchase.
Speaker: Dylan Secrest
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.
George Dell
OCTOBER 23, 2024
Should the AI (Appraisal Institute) teach AI (Artificial Intelligence)? This is Part 2 on the Series of the Appraisal Institute and Artificial Intelligence. Read Part 1 here. AI tools, such as ChatGPT, depend on prior knowledge being published somewhere out there in the cloud. Somewhere. The AI (the education provider) continues to emphasize the supremacy […] The post Does the AI Need AI?
Inman
OCTOBER 22, 2024
Now that buyer agency compensation rules are in place, Trina Gonzales-Van writes, the NAR, regulatory bodies and significant stakeholders must consider their impact on borrowers and determine whether these policies do more harm than good.
Appraisal Buzz
OCTOBER 24, 2024
Cloudvirga , a subsidiary of Stewart Information Services Corporation , has announced the findings of a consumer survey that highlights the increasing digitalization of the front-end of the mortgage origination process and growing homebuyer expectations for an even more automated, digital experience. The survey questioned recent homeowners, the majority of whom were first-time buyers, a series of questions about their experience during the mortgage application and closing process, including thei
Housing Wire
OCTOBER 22, 2024
Mortgage rates continue to rise, serving as a bucket of cold water for lenders and consumers that were warming to lower borrowing costs just a few months ago. According to HousingWire ‘s Mortgage Rates Center , the average 30-year conforming rate was 6.61% on Tuesday. That was up 15 basis points (bps) from one week ago and 30 bps higher than on Sept. 18, when the Federal Reserve lowered benchmark rates by 50 bps.
Advertiser: Trellis
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Real Estate News
OCTOBER 23, 2024
From agent pay to association changes, a new report identifies 20 ways the industry can improve itself — and help homebuyers and sellers in the process.
GoForrmz
OCTOBER 21, 2024
Originally published on 03/15/2017 Adaptability is essential for success in the rapidly growing construction industry As new digital platforms and software for construction emerge, it can be difficult to differentiate the key features and qualities that separate truly transformative platforms from the rest of the pack. Below we’ve outlined a few of the features and fields within the GoFormz platform that benefit construction management professionals and their teams.
Appraisal Buzz
OCTOBER 25, 2024
The U.S. housing market is showing signs of relief for buyers, as home prices drop in more than half of the largest metropolitan areas. According to the Realtor.com® September Housing Market Report , prices in some regions have declined by over 12%, marking a shift from the record highs of 2023. “The median price of homes for sale this September dropped by 1% year-over-year, settling at $425,000,” reports Realtor.com economist Joel Berner.
Housing Wire
OCTOBER 24, 2024
anely Sandoval’s calling to be a pre-foreclosure peacemaker started when she was in high school. “My mom and stepdad went into pre-foreclosure,” said Sandoval, a real estate agent and investor who specializes in working in low-income, often Latino neighborhoods in Southern California. “I knew things were going down, but I didn’t know how bad it was until people started knocking on our door.
Real Estate News
OCTOBER 23, 2024
Lower mortgage rates and rising inventory failed to entice buyers, particularly first-timers, as prices continued their year-over-year climb.
Empire Appraisal Group
OCTOBER 24, 2024
YinYang, E+, Getty Images Source: [link] By Melissa Dittmann Tracey There’s disagreement about whether the sports craze is a benefit for home sales, with some saying the noise hurts property values. CHICAGO – Pickleball appears to be setting off a love-hate relationship in real estate. Some prospective home buyers favor properties near pickleball courts, and the game’s popularity has spawned a “pickleball gold rush” in commercial real estate.
Appraisal Buzz
OCTOBER 24, 2024
An examination of CoreLogic data indicates that, in comparison to prior years, jumbo mortgage originations saw a discernible drop in both dollar quantities and market share in 2023 and 2024. The decline in mortgage origination activity was probably caused by a combination of high interest rates and continuously rising home prices over the previous two years.
Housing Wire
OCTOBER 24, 2024
Online real estate marketplace Auction.com released data this week showing that demand for distressed homes — including bank-owned properties and foreclosures — shrank for a second straight quarter. The company’s Auction Market Dispatch for third-quarter 2024 included a survey conducted in late September of more than 140 active buyers on the platform.
Real Estate News
OCTOBER 21, 2024
A case filed in Pennsylvania challenges membership rules and accuses associations of discriminatory treatment of minority real estate professionals.
Lamacchia Realty
OCTOBER 25, 2024
September 2024 SOUTH FLORIDA Housing Report SOUTH FLORIDA Home Sales Down, Average Price Up Home sales are down 16.5% year over year, with September 2024 at 5,170 compared to 6,190 last September. Sales are down across all categories. Single families: 3,052 (2023) | 2,669 (2024) Condos & Townhomes: 3,138 (2023) | 2,501 (2024) Average sale price increased 14.7% year-over-year, now at $817,700 compared to $712,748 in September 2023.
Appraisal Buzz
OCTOBER 21, 2024
Winter weather is already making its mark across the U.S., causing significant property damage before the full season even begins. According to a ValuePenguin study , $61.8 million in property damage has already occurred in 2024, with Oregon and Texas emerging as the hardest-hit states. As homeowners prepare for the winter ahead, these early numbers provide insight into which areas are most vulnerable to winter weather’s harsh impacts.
Housing Wire
OCTOBER 23, 2024
What had previously been a surprisingly mild 2024 hurricane season closed with two devastating storms that hammered Florida and North Carolina. While assessing the full scale of the damage could still take months, the short-term effects on the two state’s housing markets were immediately visible — the markets came to a complete halt. In the days right before and after Hurricane Milton battered central Florida, two highly responsive metrics went into free fall.
Real Estate News
OCTOBER 24, 2024
September’s lower mortgage rates may have given a boost to the new construction sector, but buyer enthusiasm could be waning as rates climb back up.
Inman
OCTOBER 25, 2024
The CFPB claimed statements made by hosts of Townstone Financial's AM radio call-in show and podcasts discouraged Black Chicago residents from applying for a mortgage.
Appraisal Buzz
OCTOBER 25, 2024
According to Q3 2024 U.S. Home Equity & Underwater Report released by ATTOM , some 48.3% of mortgaged residential properties in the US were deemed equity-rich in Q3, which means that the total estimated amount of loan balances secured by those properties was no more than half of their estimated market values. From a recent peak of 49.2% in Q2 of 2024, that level was lower.
Housing Wire
OCTOBER 24, 2024
With new-home sales growing since 2022, why are housing starts at recessionary levels? Well, it’s a complicated story if you don’t know how the homebuilders operate, and not all homebuilders are the same. The big publicly traded builders have money to pay down mortgage rates and manage their pipelines better than smaller homebuilders. However, even with that reality, when mortgage rates were at 7.50% earlier in the year, housing starts and permits were heading lower, single-family permits were h
Real Estate News
OCTOBER 19, 2024
The Clear Cooperation Policy — a misguided attempt to level the playing field — doesn't meet the needs of consumers or support principles of free enterprise.
Inman
OCTOBER 24, 2024
Lawyers filed motions Tuesday arguing eXp’s decision to come to a settlement in the commission lawsuit through a "reverse auction" should compel the brokerage to return to the bargaining table.
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