Sacramento Appraisal Blog
SEPTEMBER 9, 2022
I love the original Back to the Future movie. Do you too? Well, I can’t help but think of today’s housing market compared to the film. Sellers have tended to be stuck in the past expecting the market to be hotter than it actually is right now. And some buyers are stuck in the future, […].
Housing Wire
SEPTEMBER 8, 2022
Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again. Are we really doing those types of loans and promoting homeownership again without understanding the risks?
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Appraisal Buzz
SEPTEMBER 5, 2022
This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The reality is there is no universal acceptance of a single method of measurement to differentiate “good” from “bad.
George Dell
SEPTEMBER 7, 2022
Neither Critical, nor Thinking as words together are found in USPAP. Nor are they found in my copy of The Appraisal of Real Estate! Must be important. What is it? Do we need it? Is it worth the effort? I realized that although I have been promoting critical thinking in my classes […]. The post Is Critical Thinking Really Necessary? appeared first on George Dell, SRA, MAI, ASA, CRE.
The Appraiser Coach
SEPTEMBER 6, 2022
A couple years ago, I went out and bought a new camping trailer. This trailer, like many other recreational 5th wheels, has a battery that powers it. But this battery. Read More.
Housing Wire
SEPTEMBER 8, 2022
Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. In response to falling origination volume, the New Jersey-based mortgage company has conducted at least four rounds of layoffs this year – in March, May and August, multiple sources told HousingWire.
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Eyes on Housing
SEPTEMBER 7, 2022
Despite the pandemic-triggered suburban flight and presumed shifts in preferences towards more spacious living, a rising share of new for-sale homes were built on smaller lots. According to the latest Survey of Construction (SOC), more than two thirds of new single-family detached homes sold in 2021 were built on lots smaller than one-fifth of an acre.
GoForrmz
SEPTEMBER 9, 2022
The GoFormz team will be exhibiting at the International Manufacturing Technology Show in Chicago! We are thrilled to be attending the International Manufacturing Technology Show in Chicago , September 12-17, 2022. Will we see you there? IMTS 2022 The International Manufacturing Technology Show showcases the creators, builders, sellers, and drivers of manufacturing technology.
Housing Wire
SEPTEMBER 3, 2022
Today’s job report came in better than anticipated, with 315,000 jobs created. We did have negative revisions of 107,000 to the prior two reports combined, and the unemployment rate rose to 3.7%. So what does this mean for the labor market and the larger economy? . The job market is still pushing along fine as the need for labor continues in America.
Appraisal Buzz
SEPTEMBER 9, 2022
On Wednesday, September 28, McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “An Hour with Fannie Mae.” In this special interactive webinar, you’ll hear information on the new undervaluation risk flag in Collateral Underwriter (CU), an in-depth discussion of Appraisal Quality Monitoring, and an update on desktop appraisals.
Eyes on Housing
SEPTEMBER 6, 2022
The most recent Home Building Geography Index (HBGI) shows that home building activities have shifted to low-density and low-cost markets since the beginning of the COVID-19 pandemic. The market share for single-family constructions in large metro core and inner suburbs has declined from 44.5% to 41.6% from the 4th quarter of 2019 (pre-COVID), to the 2nd quarter of 2022.
GoForrmz
SEPTEMBER 8, 2022
Catch the replay of the GoFormz & Procore webinar: Improving Job Site Safety Management Safety touches every aspect of the construction industry. Regardless of an operation’s size, expertise, location, or budget, safety must remain every team's top priority, from the job site to the back office. Traditional documentation and reporting efforts can slow response times and hamper preventative measures, putting your team behind the curve in construction safety.
Housing Wire
SEPTEMBER 7, 2022
The wholesale arm of Rocket Mortgage on Tuesday raised anticipated agency conforming loan limits to $715,000, a sign that the nation’s largest mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 10% in 2023. The increased loan limits for mortgage brokers apply to new registrations and locks effective Sept. 6, the lender said Tuesday.
Appraisal Buzz
SEPTEMBER 8, 2022
Jacob Williamson discusses how Fannie Mae’s REO repair strategy focuses on innovative solutions to help support repair and the upkeep of properties nationwide. The post Providing Opportunities for Homeownership appeared first on DSNews. The post Providing Opportunities for Homeownership appeared first on Appraisal Buzz.
Eyes on Housing
SEPTEMBER 9, 2022
Of the roughly 1,127,000 single-family and 474,000 multifamily homes started in 2020, 37,000 (15,000 single-family and 22,000 multifamily) were built in age-restricted communities, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD). A residential community can be legally age-restricted, provided it conforms the one of the.
Appraiserblogs
SEPTEMBER 9, 2022
Taking private property for public use is one of the most powerful government actions under the constitution. The exercise of this power is commonly known as condemnation. The power itself is referred to as the eminent domain power. Eminent domain can occur at the federal, state, and local levels of government. If you are notified that your home, land, or property will be condemned for a public use, you will likely have many questions that need answers.
Housing Wire
SEPTEMBER 8, 2022
Home prices have started to drop, but the decline has not been significant enough to slow a growing pessimism about the housing market. Fannie Mae’ s Home Purchase Sentiment Index (HPSI), which tracks the housing market and consumer confidence to sell or buy a home, dropped by 0.8 points in August to 62, marking its sixth consecutive decline. The government-sponsored enterprise attributed high home prices and mortgage rates to the decline, particularly weighing on home-selling sentiment.
Appraisal Buzz
SEPTEMBER 8, 2022
CoreLogic has released its annual Wildfire Report for 2022, examining property-related wildfire risk alongside reconstruction resource availability, temporary housing capacity for displaced individuals, and community economic recovery potential among fire-prone regions. The report tracks wildfire risks in 15 Western U.S. states, in addition to Florida.
Eyes on Housing
SEPTEMBER 8, 2022
The total market share of non-site built single-family homes (modular and panelized) was at 2% of single-family completions in 2021, according to Census Bureau Survey of Construction data and NAHB analysis. This share has been steadily declining since early-2000s despite the high-level of interest for non-site built construction. In 2021, there were 24,000 total single-family units built using modular (10,000).
Appraiserblogs
SEPTEMBER 7, 2022
And just like that, real estate appraisers from across the country have now added a new line item to their résumés, websites and marketing material: RESTORATION VALUE MAGICIAN. Oh wait, haven’t some AMCs and others already claimed to be such magicians when it comes to this topic? The pandering and save face attitudes of some of these organizations is concerning.
Housing Wire
SEPTEMBER 7, 2022
Top mortgage lender NewRez has added to its line of “Smart Series” non-QM products, launching a 40-year fixed-rate interest-only mortgage loan. With the 40-year IO mortgage, borrowers make interest-only payments for the first 10 years, which NewRez says increases their purchasing power and allows for more affordable monthly payments. (It also slows the amount of equity borrowers have in the property.).
Appraisal Buzz
SEPTEMBER 7, 2022
In modern-day America, even a top job’s paychecks do not always open the door to acquiring homeownership. However, regional differences still make it possible for workers in a wide range of professions to buy a home in locations where their job skills are needed, according to a new report form StorageCafe. With major changes in … The post Utah Joins California on List of Unaffordable Metros appeared first on DSNews.
Eyes on Housing
SEPTEMBER 9, 2022
Residential construction loan volume reached a post-Great Recession high during the second quarter of 2022, as home building activity and new home sales slowed. Outstanding builder loan balances are rising as development debt is being held longer as new homes remain in inventory longer. Loan balances will decline in coming quarters as the development loan market becomes more costly and.
Lamacchia Realty
SEPTEMBER 7, 2022
September 7, 2022 – Lamacchia Realty is thrilled to announce the inception of Lamacchia Florida Consulting Services for New England-based clients. This will serve clients interested in either relocating or purchasing a second home in Florida but need further guidance on which area is best based on their desired lifestyle and priorities. With so many options, purchasing in Florida can be overwhelming as the state offers many desirable elements to those looking for a home.
Housing Wire
SEPTEMBER 9, 2022
As a financial technologist specializing in mortgage since long before “fintech” was a thing, I appreciate how tough market cycles force us to focus. For some individuals and companies, this is your first mortgage down cycle. For others, it’s just a new chapter in your journey. But one thing is certain for all of us: without technical expertise, fintech is just a buzzword, and markets like this are when we earn our place serving America’s consumers.
Appraisal Buzz
SEPTEMBER 7, 2022
COVID-19 presented mortgage servicers with a new challenge, creating and executing new customer solutions, while managing the impact of the pandemic on their own workforce. The post Servicers Adapt to Changing Times appeared first on DSNews. The post Servicers Adapt to Changing Times appeared first on Appraisal Buzz.
Valcre
SEPTEMBER 7, 2022
Appraisal of a commercial property refers to the assessment of the property’s fair market value. For property owners, getting a professional appraisal is absolutely necessary before mortgaging or selling their property. Appraisal of commercial properties can be a daunting task as appraisers come in multiple times to check the property and hold several discussions with stakeholders to determine its value.
The Robert Weiler Company
SEPTEMBER 9, 2022
Land investors choose land to buy in Ohio for many reasons. Unlike other investments of value, buying land is often a safe investment. Land is a limited resource, has permanence, and appreciates in value. In fact, land won’t depreciate, even raw and undeveloped land. Buying land in Ohio offers myriad uses if you follow zoning regulations. Ohio consistently ranks at the top for affordable living and business costs.
Housing Wire
SEPTEMBER 9, 2022
An influential banking trade group this week argued that the Federal Housing Finance Administration (FHFA) should not permit nonbank lenders and real estate investment trusts to become members of the $1 trillion Federal Home Loan Bank system. In a statement issued Tuesday, Rebecca Romero Rainey, president of the Independent Community Bankers of America , said the FHLBs must “remain a strong, stable and reliable source of funding for community banks, including many agricultural lenders.”.
Appraisal Buzz
SEPTEMBER 6, 2022
The latest Mortgage Default Index (MMDI) published by Milliman, Inc., showed that mortgage risk rate continues to increase in the second quarter of 2022 with heavy cash-out refinance volumes weighing on the market. According to Milliman, the default risk for loans from Fannie Mae and Freddie Mac (the GSEs) acquisitions increased at a rate of … The post Riskier Cash-Out Refis Dominate Market, Increasing Risk Level appeared first on DSNews.
Empire Appraisal Group
SEPTEMBER 8, 2022
U.S. Housing Market Collapse? Nowhere in Sight. Source: U.S. Housing Market Collapse? Nowhere in Sight | Florida Realtors. The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom. NEW YORK – The rock-hard foundation of the U.S. housing market is suffering some cracks, but an outright collapse is nowhere in sight.
The Robert Weiler Company
SEPTEMBER 7, 2022
Is buying land a good investment in Ohio? Data through the first half of 2022 has been tallied on Ohio land for sale. All indicators show an extremely positive trend that will likely continue through the rest of 2022 and beyond. Reports have revealed a strong land market. And undeveloped land is increasingly attractive for investors after favorable reports from the Ohio REALTORS®.
Housing Wire
SEPTEMBER 8, 2022
People who invest in technology often ask the question: is this a “nice to have,” or a “need to have?” Few have the resources to invest in technologies they don’t need. Often, this analysis comes down to the worst case scenario. “What’s the worst that can happen if we don’t invest in this technology?”. When mortgage lenders are talking about compliance in loan origination or mortgage servicing, the worst case can be pretty bad, so we often see companies investing heavily in the best tools.
Appraisal Buzz
SEPTEMBER 6, 2022
Appraisers Can Complete Virtual Inspections Independently, Be Their Own Bosses, and Prepare for a Digital Future. CHARLOTTE, N.C. — September 6, 2022 — To give appraisers a new advantage as they compete for jobs, start and build their own businesses, and prepare for a digital future, Incenter Appraisal Management is making its RemoteVal remote/desktop appraisal technology available on a self-serve basis.
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