Housing Wire
MARCH 31, 2022
Are we headed to a housing bubble? The Dallas Fed on Thursday published an article titled: Real-Time Market Monitoring Finds Signs Of a Brewing U.S. Housing Bubble. The online reaction was immediate — housing must be about to crash. I disagree with this conclusion. That’s not to say that the data points the Fed used are incorrect — in fact, we are in a savagely unhealthy housing market , but it’s not a bubble.
Sacramento Appraisal Blog
MARCH 28, 2022
There’s a new bill in California called AB 1771 that proposes a 25% tax on the profit of home flippers. This is worth talking about because laws can affect the housing market. This is NOT a political post, but I want to talk about some of the issues involved and offer perspective based on stats […].
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Appraisal Buzz
MARCH 29, 2022
PERSON OF THE WEEK: The shift to a purchase market, lenders’ re-expansion into niche products such as non-QM, and the reality of remote work and its impact on retention are among the topics covered by Brian Miller, senior vice president, talent acquisition for Planet Home Lending , in a recent interview with MortgageOrb. Q: What’s going on in the mortgage banking recruiting market right now?
The Appraiser Coach
MARCH 29, 2022
Let’s talk about your procedure manual. What procedure manual, you ask? Well, the one you should have (if you don’t). Even if you’re the only person working in your office, Read More.
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Housing Wire
MARCH 31, 2022
Mortgage rates keep climbing amid rising inflation , war in Ukraine, and disruptions to the supply chain, and there’s no sign that they’ll fall anytime soon. The latest weekly Freddie Mac PMMS mortgage survey, released Thursday, showed that the average purchase mortgage rate touched 4.67%, up 25 basis points from the week prior. That was the highest reading since December 2018, according to Freddie Mac.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
APRIL 1, 2022
The U.S. economy added 431,000 jobs in March – slightly below expectations – while the unemployment rate dipped to 3.6%, according to the U.S. Bureau of Labor Statistics. Notable job gains continued in leisure and hospitality, professional and business services, retail trade, and manufacturing. The number of unemployed persons decreased by 318,000 to 6.0 million.
George Dell
MARCH 30, 2022
Bias is a much used and misused word. Variance too has more than one meaning. Words rule. Words trigger our thoughts, our feelings, and our opinions. Bias itself can mean different things. It can mean different things to different people. And it can mean different things to the same person, depending on context. Bias can […]. The post Bias or Variance: Which is Better?
Housing Wire
MARCH 29, 2022
Keller Williams and RE/MAX lead the list of the top 50 one-year movers by percentage transaction sides, with Keller Williams — Cunningham Group , based in Santa Monica, California, seeing a 136% increase in sides between 2020 and 2021. Data for the 2022 RealTrends 500 rankings is based on 2021 sales. Top movers is a ranking of the 50 firms in the RealTrends 500 that had the largest percentage increase in closed sides or largest percentage in sales volume between 2020 to 2021.
Eyes on Housing
MARCH 29, 2022
The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs remained steady at 381,000 unfilled positions in February. The highest measure in the history of the data series (going back to late 2000) was 416,000 in April 2019.
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Appraisal Buzz
APRIL 1, 2022
Mortgage rates are shooting up at the fastest pace in history, sending the typical monthly mortgage payment for a homebuyer up more than $500 since the beginning of this year, according to Redfin. As rates quickly approach 5%, Redfin expects their impact on homebuyer demand to change from a motivator – driving a sense of urgency to buy before rates rise further – to a deterrent, causing buyers to step back as the cost.
DW Slater Company
MARCH 31, 2022
March Newsletter- Spring in North Texas. The signs of spring are here in North Texas. The weather is beginning to warm and there are buds on the trees, like this redbud tree outside our office window. Not only do we see new growth, but we also see weather instability and more severe storms that we must watch out for. Last week our area experienced severe weather and a tornado outbreak.
Housing Wire
APRIL 1, 2022
Today, the Bureau of Labor Statistics reported that the United States Of America created 431,000 jobs in March. We also had 95,000 positive revisions, and although this was a slight miss of estimates, it continues the solid trend of good job reports in 2022. On another note, I raised my third recession red flag, since the inverted yield curve happened this week.
Eyes on Housing
APRIL 1, 2022
Total nonfarm payroll employment increased by 431,000 in March, and the unemployment rate fell to 3.6% from 3.8%. The labor market recovery is continuing, as employment in some sectors, such as professional and business services, financial activities, and retail sectors, is now above pre-pandemic levels. Construction industry employment (both residential and non-residential) totaled 7.6 million and has returned to its.
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Appraisal Buzz
MARCH 31, 2022
Driven by strong demand and limited inventory, U.S. home prices increased 1.6% on an adjusted basis in January and were up 19.2% compared with January 2021, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The index’s 10-city and 20-city composites, measuring home price growth in the 20 largest U.S. metros, both posted month-over-month increases of 1.8%.
Raleigh Realty
MARCH 26, 2022
What Is A Buyer's Agent? What is a Buyer's Agent in Real Estate and do I need one when buying a home? We have all that answered and more If you are wondering if you should use a Buyer's Agent the answer is easy, yes. A Buyer's Agent in Real Estate is someone who helps homebuyers understand the local real estate market while finding a home that matches their criteria.
Housing Wire
MARCH 31, 2022
Congress hopes to supplant the appraisal governing body at the center of the industry’s self-regulated framework and make public the trove of appraisal data held by the government-sponsored enterprises. A draft discussion bill circulated this week, sponsored by House Financial Services Chairperson Maxine Waters (D-CA), would strike the Appraisal Foundation , and replace it with an independent federal agency.
Eyes on Housing
MARCH 29, 2022
After dropping to a one-year low last month, consumer confidence rebounded slightly in March as strong job growth offset consumer’s concerns about the Ukraine crisis and decades-high inflation. The Consumer Confidence Index, reported by the Conference Board, rose 1.5 points from 105.7 to 107.2 in March. The Present Situation Index increased 10.0 points from 143.0 to 153.0, while the Expectation.
Appraisal Buzz
MARCH 30, 2022
Today’s Buzzcast interview is with Scott Reuter, Chief Appraiser of Freddie Mac. We sat down with Scott and Joan Trice, Founder of Allterra Group, LLC to discuss the new Desktop appraisal policies and what that means for the industry. What is new in policy when it comes to desktop appraisals? What does this mean for the appraisal industry? How do these policies impact the individual appraiser?
GoForrmz
MARCH 28, 2022
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Housing Wire
APRIL 1, 2022
Maybe things are getting better? Coming off a month of strong growth in February , the U.S. jobs report released Friday again showed a solid increase in non-farm payroll jobs. A total of 431,000 non-farm payroll jobs were added in March, and employment in the construction industry is now above its pre-pandemic level, after the industry added 19,000 jobs.
Eyes on Housing
MARCH 28, 2022
Nonfarm payroll employment increased in 48 states and the District of Columbia in February compared to the previous month while Arkansas and Alaska lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 678,000 in February, following a gain of 481,000 jobs in January.
Appraisal Buzz
MARCH 28, 2022
Appraising compliance with the American National Standard for Single-Family Residential Buildings. Fannie Mae has released further clarification on their announcement that they will be requiring appraisers to provide square footage calculations in accordance with the American National Standard for Single-Family Residential Buildings, the standard reference is ANSI Z765-2021.
Appraiserblogs
APRIL 1, 2022
The blame game against appraisers is continuing the fast and furious start, evidenced by the PAVE report. A synopsis is in the link: PAVE task force delivers plan on appraisal bias – Lexology Key info from the PAVE report. “Relevant agencies have also committed to addressing potential bias in the use of technology-based valuation tools through a rulemaking related to automated valuation models (AVMs), including the addition of a nondiscrimination quality control standard in the proposed rule.
Housing Wire
MARCH 29, 2022
Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Wait, what? But we have a housing shortage, right? Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built
Eyes on Housing
MARCH 31, 2022
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in 2021 as the economy continued recover from the COVID-19 crisis. According to the U.S. Bureau of Economic Analysis (BEA), the percent change increase in real GDP ranged from 8.6 percent in Tennessee to 0.3 percent in Alaska. Nationwide, growth in real GDP, measured on a.
Appraisal Buzz
APRIL 1, 2022
Mr. Cooper Group Inc. announced April 1 that it has completed its previously-announced agreement with Sagent Lending Technologies. The deal, which was announced in February, allows Sagent to buy certain intellectual property rights related to Mr. Cooper’s proprietary, cloud-based technology platform for mortgage servicing, and Mr. Cooper will receive an equity stake in Sagent.
Appraiserblogs
MARCH 30, 2022
More great research from AEI. This is an analysis of Freddie Mac’s misleading and basically defamatory paper on Appraisal Gap. When government related entities release misleading information like this they are attacking and defaming real estate appraisers. The hate real estate appraisers have received because of this paper and Andre Perry’s paper is relentless.
Housing Wire
MARCH 31, 2022
Oregon State Rep. Mark Meek. Mark Meek doesn’t know what comes next. “Right now, we are working in a really strong seller’s market and say a seller gets four offers that are identical, but they all include love letters, then the seller ends up picking on personal preference,” said Meek, the Oregon state representative and practicing real estate broker, adding that, “We have implicit biases weighing in on the decision-making process.”.
McKissock
MARCH 27, 2022
If you’re marketing your real estate business on social media then you know how important hashtags are, especially when marketing to millennials. By adding hashtags to your post you’re automatically filing it under certain categories so that when users search a specific hashtag your content will appear. The problem with hashtags? They change a lot.
Appraisal Buzz
APRIL 1, 2022
As a real estate appraiser, you strive for efficiency in your process and in your business. There are many technology tools available to make your workflow faster and smoother. However, they won’t save you as much time if you don’t learn how to maximize their capabilities. To better understand what sort of technology training and webinars would be the most useful to you, we asked appraisers, “On what appraisal software tools would you like.
Appraiserblogs
MARCH 28, 2022
The FLOOR PLAN has all the elements of a SKETCH… Appraisers, I was given some ‘inside info’ about DESKTOP assignment reports being submitted to the GSE’s – incorrectly. The FLOOR PLAN exhibit in these DESKTOP reports, in some cases, is not being done correctly. Let’s examine what is actually required as a diagram showing the dwelling: First, when the appraiser certified that they, or their trainee, have/has made an on-site personal visit to the property and has measured the dwelling, only a SKET
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