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“We tend to overestimate the effect of a technology in the short term and underestimate the effect in the long term.” This is the little-known Law of Amara that describes how we perceive the impact of new technology on our lives. Before we discuss the impact of technology on the future of appraisal data, it’s good to get a historical perspective. Forty years ago, appraisers were storing property data on Property Cards.
Does the housing market really have price cycles? Yes. But these cycles aren’t always so rigid and perfectly predictable like so many people think they are. Let’s talk about this today. I’d love to hear your take also. UPCOMING PUBLIC SPEAKING GIGS: 3/15/2022 NARPM Luncheon (details) 3/22/2022 SAFE Credit Union market update (details) 4/28/2022 SAR […].
Record home prices in recent years have pushed tappable home equity to new heights, increasing the demand for one specific product: cash-out refis. Black Knight data shows that lenders originated $1.2 trillion in cash-out refis in 2021, up 20% compared to the prior year, the highest volume since 2005. Cash-out refis went from 36% to more than 60% of all refis from the beginning of 2021 to the fourth quarter.
How many steps have you taken in your life? How many steps do most people take in a lifetime? I’m sure that there are many factors that impact this. According to some studies , the average person will take 70 million steps in their lifetime. How many of those steps are on stairs? That will also depend on many factors. Some may find stairs to be a source of recreation.
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.
Fitch Ratings, a Nationally Recognized Statistical Rating Organization with the U.S. Securities and Exchange Commission, has released a special report on a recent roundtable covering Residential Mortgage-Backed Securities (RMBS). The meeting consisted of 45 of the top key players in the RMBS servicing space who discussed perspectives on important industry trends, developments, and use of technology … The post Fitch: RMBS Servicers Largely Weather the Pandemic appeared first on DSNews.
Appraisers historically have been sold bogus franchises, software, and other magic solutions. Only $199.95 — Push the enchanted ‘calculate’ button and get ‘correct’ adjustments. Sounds good. It is nice to think that for this small charge, I can save hours and get the right, fully mathematical solution to an adjustment amount. I will be wonderful!
Appraisers historically have been sold bogus franchises, software, and other magic solutions. Only $199.95 — Push the enchanted ‘calculate’ button and get ‘correct’ adjustments. Sounds good. It is nice to think that for this small charge, I can save hours and get the right, fully mathematical solution to an adjustment amount. I will be wonderful!
Fannie Mae this week completed its first credit insurance risk transfer (CIRT) deal of the year as part of the agency’s ongoing efforts to share mortgage risk with the private sector. . The deal transferred millions of dollars of credit risk to a group of 22 private insurers and reinsurers. That credit risk is tied to a $26.1 billion reference pool of single-family mortgages.
You have been a real estate appraiser for years. Or maybe you’ve just got six months under your belt. Either way, each of us needs to determine how we will. Read More.
Today’s Buzzcast interview is with Jeremy Staudenmaier, 2022 Winner of the Valuation Visionary Award. We sat down with Jeremy and Joan Trice, Founder of Allterra Group, LLC to discuss what this award means to him and the impact within the appraisal industry this has. What is the example you want to set for the next Valuation Visionary? What are some of the current issues within the appraisal industry that need to be focused on more?
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.3% in January after an increase of 2.2% in December 2021. Spending stood at a seasonally adjusted annual rate of $829.4 billion. Total private residential construction spending was 13.4% higher than a year ago. These monthly gains are attributed to the strong growth of spending.
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.
On Friday, the National Association of Realtors released its pending home sales data showing a third month of declines. Even though the recent existing-home sales data has been outperforming my expectations , the pending home sales data to me looks more in line with my expectations for 2022. From NAR : “Pending home sales slumped in January, continuing what is now a three-month drop in transactions, the National Association of Realtors reported.
Best Hiking Trails Raleigh, NC Are you searching for the best hiking trails in Raleigh? We have you covered with 10 of the best below We are a local real estate company that loves bringing you local content all around the Triangle Whether you're searching for homes, restaurants, or neighborhoods we have you covered. Without further ado, let's dive into the 10 best hiking trails in Raleigh William B.
With the SFR market experiencing all-time highs, the Five Star Institute will bring together the industry’s top experts for the Single-Family Rental Summit 2022 in Dallas. The post SFR Experts to Converge on Dallas for April Summit appeared first on DSNews. The post SFR Experts to Converge on Dallas for April Summit appeared first on Appraisal Buzz.
Job growth accelerated in February with widespread gains across industries. Total nonfarm payroll employment increased by 678,000 in February, and the unemployment rate edged down to 3.8%. Construction industry employment (both residential and non-residential) totaled 7.6 million. Residential construction gained 31,000 jobs, while non-residential construction added 29,400 jobs for the month.
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.
UWM’s headquarters in Pontiac, Michigan. United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, posted another record for production in 2021, but lower margins and declines in fair value of mortgage servicing rights impacted its earnings. The company reported on Tuesday $1.56 billion in profits in 2021, down 53.6% from the $3.38 billion registered in the previous year, which was the best in the history of the mortgage industry.
Leverage mobile forms to boost efficiency across departments If your team is still utilizing paper forms then they are most likely faced with significant challenges when filing, storing, and analyzing forms and data. The process of filling out paper forms and then rekeying information into internal systems is not only time-consuming but costly. Wasted time spent on the manual storage of paper forms can be better spent on more important tasks.
SFR specialist adds 20-plus-year veteran who will join Dana Hamilton in managing Pretium’s real estate platform, including investing in and managing rental homes. The post Josh Pristaw Joins Pretium as Co-Head of Real Estate appeared first on DSNews. The post Josh Pristaw Joins Pretium as Co-Head of Real Estate appeared first on Appraisal Buzz.
Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the third quarter of 2021 due to strong demand and low vacancy rates. The absorption rate of unfurnished, unsubsidized apartments (the share rented out in the first three months following completion) surged by 25 percentage points to.
Veev , a California-based homebuilding company, announced raising a $400 million Series D led by BOND , according to a press release shared with FinLedger. The company says it will use the funding to scale its operations, accelerate its research and development and expand construction into new markets. LenX , Zeev Ventures and Fifth Wall also participated in the round, which brings Veev’s total funding to date to $600 million.
17 Best Restaurants in Durham, NC WARNING: Your mouth may begin to water after reading about the best restaurants in Durham, NC Our website is focused on real estate and helping people find and sell great homes in Durham however we are pretty good at helping you find the best restaurants in the area as well Our blog is a great place for us to offer a local's guide into many of the things that make Durham great, including restaurants.
Kevin Laffey has been promoted to senior vice president, sales and business development, at Inlanta Mortgage , an independent mortgage lender with 39 branch offices in 27 states. Previously, Laffey was regional production manager. Laffey has over 30 years of experience in the mortgage business. Prior to joining Inlanta Mortgage in 2011, he held managerial sales positions at Wells Fargo and Bank of America and ran his own independent mortgage company for several years.
Residential construction loan volume reached a post-Great Recession high during the fourth quarter of 2021, as home building activity posted gains for the year. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased 1% during the fourth quarter. The volume of loans increased by $977 million on a quarterly basis.
Many lenders are familiar with digital closings (eClosings), but they might not know just how valuable they can be to their business. In a recent study , Marketwise and Notarize found that digital closings shorten the time it takes to close, reduce errors and increase ROI — all while improving customer experience. Lenders don’t have to offer a full digital close to reap the benefits of eClosings.
What you should know about the appraisal process We know that whether you’re a buyer or a seller, the appraisal process – especially for residential or agricultural properties – can be nerve-wracking. Here are answers to some of the questions we get asked most often. Why do I need an appraisal? Contrary to popular belief, […].
Funds managed by CarVal Investors , a global alternative investment manager, have established Mill City Loans , a mortgage conduit with a focus on building lasting relationships with originator partners in the acquisition of residential mortgage assets across multiple strategies. Mill City Loans will be led by an executive team comprised of Trey Jordan, Mike Petersen and Kent Usell.
Per NAHB’s latest Home Building Geography Index (HBGI), through the second half of 2021, multifamily home building rebounded from quarterly declines that began at the outset of the pandemic. In the wake of the public health crisis, there was a pronounced return to higher density markets or geographies, particularly in apartment and other multifamily residential construction.
Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Annapolis, Maryland. Annapolis lies right on the Chesapeake Bay and is within commuting distance to both Baltimore and Washington, D.C.
Improve enterprise team collaboration with digital forms Paper forms can cause headaches for any company. Messy and inaccurate paper forms are not only a significant operational burden but result in high administrative costs. For enterprise companies, data collection can be fragmented amongst departments which leads to disorganized and cumbersome processes.
According to a new report from Redfin, home prices surged to an all-time high of $363,975 as the market continued to heat up during the four-week period ending February 27. The median home-sale price was up 16% year-over-year, the biggest annual gain since August. The typical home sold for 0.8% above list price, the largest … The post Home Prices Surged to Record High in February appeared first on DSNews.
Welcome to your crash course in choosing comps. In this blog post, we’ll discuss the various methods for choosing comparable sales, just the way an appraiser does. When pricing a new listing, you’ll first gather all the information about the home and neighborhood. While that may take some time to collect, that’s the easy […]. The post Appraisal Blog The Realtor’s Guide to Appraisals, Part 3 How Appraisers Choose Comps appeared first on Riverfront Appraisals.
Fannie Mae has appointed Sharifa Anderson to fill the newly created role of senior vice president and chief diversity and inclusion officer. Effective Feb. 28, Anderson, who recently served as the chief diversity and inclusion officer at Federal Home Loan Bank of Pittsburgh , will lead Fannie’s efforts to create positive diversity and inclusion outcomes across the enterprise as well as with the enterprise’s suppliers, business partners, and the people and communities it serves, the government-sp
The CFPB is reviewing bias in Automated Valuation Models (AVMs). The proposed rules are a joint effort by the Consumer Financial Protection Bureau, the Office of the Controller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Federal Housing Finance Agency. These agencies are concerned AVMs may reflect bias in design and function.
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