Housing Wire

JUNE 23, 2021

in May to a 769,000 seasonally adjusted annual rate, according to data released Wednesday by the Department of Housing and Urban Development and the U.S. A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed.

Supply Chain 427

Supply Chain Construction Buyers Development 427

Simonson Real Estate

JANUARY 25, 2022

I think we can all agree that 2021 was another year of great challenge and historic change. In this article, we will share the Twin Cities apartment market data from 2021 and give insights on what to expect in 2022. Apartment New Construction. 2021 was the fifth straight year of record apartment deliveries. Rent Growth.

Marketing 131

Marketing Construction Real Estate Lending 131

Housing Wire

JUNE 17, 2021

Overall, the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 741,000 units in May 2021. However, construction is still facing headwinds given permits for new developments by homebuilders dropped 3%, largely because lumber and building material costs kept prices high.

Inventory 491

Inventory Construction Contracts Mortgage 491

Housing Wire

MAY 19, 2022

It sees the second quarter of growth rebounding to 1.6%, despite the economy contracting 1.4% Fannie expects a slowdown in homesales for the second and third quarters of 2022, followed by a softening in construction activity and a large deceleration in home price growth. from April 2021 , according to the U.S. from March and 8.6%

Contracts 397

Contracts Mortgage Construction Development 397

Housing Wire

JUNE 17, 2021

Though uncertainties over consumer behaviors related to reopening and COVID-19 developments remain, the group believes temporary factors are largely responsible for current strong inflation. Fannie Mae’s economic group said its outlook on mortgage rates will remain the same: 30-year fixed contract rate at 3% in 2021 and 3.3%

Mortgage 442

Mortgage Housing Market Contracts Construction 442

Housing Wire

AUGUST 23, 2022

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. Census Bureau and the Department of Housing and Urban Development. percent) below the July 2021 estimate of 726,000. months of supply in an orderly manner.

Construction 369

Construction Housing Market Sellers Marketing 369

Housing Wire

JULY 25, 2022

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. in 2021, Freddie Mac reports. trillion in 2021,” the agency’s quarterly forecast states. Freddie Mac projects that home-price growth will average 12.8% trillion in 2022 and $2.3

Housing Market 393

Housing Market Marketing Supply Chain Real Estate 393

Appraisal Buzz

JUNE 20, 2022

Adoption of the Square Footage-Method for Calculating, American National Standards Institute (ANSI) Z765-2021 upended the long-standing routine and methodology for thousands of appraisers. This might include assignment conditions, contracts, leases, income and expense data, subject property descriptions, and builder’s cost information.

Appraisal 417

Appraisal Modernization Property Appraisal Real Property 417

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. It’s fair to say that 2022 has been a depressing year for homebuilders.

Supply Chain 355

Supply Chain Construction Inventory Finance 355

Housing Wire

JUNE 21, 2021

You set your appointments the night before, and when you get there that morning, they might already be under contract.” Generally, they go under contract in a day or two.” Similar numbers are expected in 2021 as more workers receive the COVID-19 vaccine and supply lines speed up. It’s like a horse race.

Housing Market 424

Housing Market Marketing Realtors Inventory 424

Housing Wire

MAY 24, 2022

Except now, we have had massive price gains in 2020, 2021 and 2022. Census Bureau and the Department of Housing and Urban Development. percent) below the 2021 estimate of 809,000. months and above, the builders will pull back on construction. This is 16.6 percent (±10.4 percent (±13.7 When supply is 4.4 When supply is 6.5

Housing Market 390

Housing Market Inventory Construction Marketing 390

Cleveland Appraisal Blog

MARCH 30, 2021

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. There is just not much out there to buy.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Housing Wire

JANUARY 13, 2023

trillion in 2021 — a year in which 30-year fixed mortgage rates were about half of what they are today. “We And 2022 was off by some 17% from 2021. in October 2021]. …We year-over-year gain in 2022 and a nearly 28% bump in 2021. “So, trillion — down by 15% compared with 2022. The nation’s unemployment rate stood at 3.5%

Marketing 399

Marketing Investing Investors Landlords 399

Appraisal Today

APRIL 12, 2024

Retrospective appraisals, drive-by (exterior inspection) appraisals, and valuations from plans and specifications, are all valuation assignments where an appraiser develops an appraisal opinion without personally inspecting the property. I was lucky to have never had to use new construction as a comp on an existing home.

Appraisal 77

Appraisal Construction Contracts Architecture 77

The Robert Weiler Company

SEPTEMBER 7, 2022

Our land brokers anticipate steady demand from land buyers, other CRE investors, land developers, and tenants in Ohio, Central Ohio, and Columbus, Ohio. increase from the May 2021 sales level of 13,955. The average home sales price across Ohio in May 2022 soared to $277,452, a 13% increase from the $245,485 price in May 2021.

Marketing 78

Marketing Real Estate Investing Retail 78

Housing Wire

APRIL 27, 2023

And yet another big force in the market, FirstKey Homes , is pulling collateral out of a 2021 securitization deal. KBRA reported last month that FirstKey Homes exercised a so-called “excess collateral release” [ECR] feature for a securitization deal dubbed FirstKey Homes 2021-SFR1.

Renovations 276

Renovations Investing Real Estate Marketing 276

Housing Wire

NOVEMBER 3, 2023

Other threats Another lawsuit filed by REX in March 2021 against the trade group and Zillow , alleges anti-trust violations related to an NAR rule, known as the no-commingling rule, that prompted Zillow to separate non-MLS listings from MLS listings on its website, including listings from REX. “He got up to 20% to 30%, as I recall.”

Real Estate 291

Real Estate Brokerage Buyers Property Management 291

Appraisal Today

APRIL 5, 2024

Significant developments have occurred in the case. The second development in the case is that on March 22, 2024, the attorneys for Drs. With shifts in existing and pending home sales, new home sales, construction activity, and economic indicators such as inflation and mortgage rates, appraisers are navigating a complex landscape.

Appraisal 77

Appraisal Contracts Business Construction 77

Will Springer Realtor

SEPTEMBER 8, 2021

It is developing several single-family and multifamily communities in King and Snohomish counties. The company forecasts an 8% YoY increase in new communities for 2021 across the U.S. Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. of the $5.8T

Construction 36

Construction Inventory Buyers Real Estate 36

Eppraisal

NOVEMBER 30, 2021

Housing starts increased right along with home values in 2021. According to a release from census.gov on November 17, 2021, housing starts were 0.4 Many national builder developments across the country are selling homes faster than they have in some time. percent above the October 2020 rate. Horton, Lennar Corp.,

Contracts 36

Contracts Home Value Design Development 36

McKissock

APRIL 25, 2023

Businesses are observing a decline in demand for their goods and services, which should result in a further contraction of the labor market in the coming months. economy could experience a contraction this year. March saw a modest decline in residential construction as developers continued to navigate a challenging housing market.

Real Estate 86

Real Estate Appraisal Contracts Construction 86

Appraisal Today

SEPTEMBER 8, 2023

It’s been on and off the market since 2014, four years after a lengthy construction project there was completed. But that popularity did not translate into a sale, and the stately dwelling returned to the market more recently in 2021 for $35 million. The community is part of a wider development in Georgetown, Texas called Wolf Ranch.

Appraisal 80

Appraisal Contracts Business Construction 80

Empire Appraisal Group

MAY 20, 2021

© 2021 Journal Media Group. This column is not based on specific legal advice to anyone and is based on principles subject to change from time to time. The post Can Condos or HOAs Require Vaccination Proof to Use Amenities? appeared first on Empire Appraisal Group.

HOA 78

HOA Easement Tenants Law 78

Will Springer Realtor

APRIL 14, 2023

After nearly a year, the housing sector’s contraction is coming to an end,” notes Lawrence Yun, National Association of Realtors® chief economist, speaking about the U.S. Existing-home sales, pending contracts and new-home construction pending contracts have turned the corner and climbed for the past three months.” 

Contracts 36

Contracts Buyers Housing Market Design 36

Appraisal Today

MARCH 22, 2024

Updated Unacceptable Appraisal Practices (bias words) – the overall occurrence rate which has declined from 0.15% of appraisal reports in 2021 to just 0.03% in 2023 (see Figure 1). For those who don’t know, I’ve been involved in appraisal form development, from scratch. Do the right thing. That’s it. percent from 6.84

Appraisal 66

Appraisal Contracts Business Insurance 66

Appraisal Today

MAY 24, 2024

Built in 2008, the luxury estate last traded hands in 2021 for $6,250,000. Finally, the vendor’s use of the photos is limited by contract, with stiff penalties for violation. Appraisal is defined as the act or process of developing an opinion of value, or the opinion of value itself. baths, 19,660 sq.ft., ® this week.

Appraisal 81

Appraisal Contracts Mortgage Reconsideration of Value 81

Housing Wire

MARCH 15, 2022

It completely upends the construct of securitization.”. District Court judge in the case, Stephanos Bib as , states in a ruling lodged in late December of 2021. “Investors will need to quantify and charge for the risk that they will be held accountable for [with respect to] the acts of third-party servicers …,” he said. “It

Legal 364

Legal Law Investors Finance 364

Appraisal Today

SEPTEMBER 17, 2022

Architect Adam Dayem designed the unique 2,500-square-foot residence, which was completed in 2017 after several years of construction. However, median lot value reached $143,000 in 2021, the second most expensive value in the nation and a new record for the division, even after adjusting for inflation. 2,500 sq.ft.,

Appraisal 52

Appraisal Construction Contracts Insurance 52

The Robert Weiler Company

NOVEMBER 9, 2022

Hundreds of international companies call Columbus their home, including Battelle Memorial Institute, the world’s largest private research and development foundation. Ohio is said to be one of 10 “Top States for Business,” according to CNBC’s 2021 real estate forecast. What does that mean? Smart people invest here!

Transportation 78

Transportation Real Estate Supply Chain Investing 78

Will Springer Realtor

DECEMBER 14, 2021

What did we see in 2021 Seattle/King County homeowners that were on the ball likely timed their sales at one of the highest temperatures of market hotness in recent years. days (November 2021). =. Buyers will continue to outstrip sellers by a significant margin but less extreme than in 2021. established at the start of 2021.

Real Estate 69

Real Estate Buyers Construction Sellers 69

Appraisal Today

JANUARY 4, 2023

In 2021, 9.1 The BPS places new homes built in one of four development categories. In addition to “teardown” and “infill,” the categories include “new residential development” and ”not in a residential development.” Homes built in a new residential development are by far the most common type. See graphic above.

Appraisal 52

Appraisal Contracts Business Development 52

Will Springer Realtor

JULY 13, 2023

Our urban area accounts for about half of the city’s economic activity, and the Seattle Chamber noted that rising office vacancies coupled with less construction could lead to $2B in decreased revenue. Local government, developers, architects and others will need to step up and take responsibility for the sake of our city.

Construction 36

Construction Supply Chain Real Estate Development 36

Appraisal Today

FEBRUARY 23, 2024

I find myself scouring 2021 onward especially. The truth is there are portions of 2021 and 2022 where prices are exactly the same as today too, so if I use an older comp, I don’t always need to adjust for the way the market has changed. .” The average contract interest rate for 15-year fixed-rate mortgages increased to 6.61

Appraisal 68

Appraisal Real Estate Contracts Reconsideration of Value 68

Will Springer Realtor

SEPTEMBER 12, 2023

The number of homes going under contract – known in the industry as Pending sales – fell to 2340, an August figure not seen in King since 2010 when there were only 1580 in the heart of the housing crisis. homes in 2021, for comparison. Demand should remain strong as developers work hard to create additional supply.

Finance 68

Finance Inventory Construction Buyers 68

Appraisal Today

NOVEMBER 3, 2023

18, 2021, and March 31, 2023, the OIG conducted an audit focusing on FHFA’s supervision of Fannie Mae’s and Freddie Mac’s use of desktop appraisals. Definitive numbers are difficult to come by since the Department of Housing and Urban Development (HUD) has failed to respond to public record requests on this question. Between Oct.

Appraisal 76

Appraisal Contracts Architecture Mortgage 76

Appraisal Today

JULY 1, 2022

Excerpt: What’s the difference between a newly constructed home and a hundred-year-old home? When developing an opinion of the market value of a property, what appraisers are really measuring is how much depreciation a property has suffered from, and more specifically how much depreciation the improvements on the land have depreciated.

Appraisal 52

Appraisal Contracts Insurance Real Estate 52

Will Springer Realtor

APRIL 11, 2022

With each stall in a commercial garage costing tens of thousands of dollars to build, parking requirements can impose significant costs on property developers, owners and renters. Rather than allocating parking that goes unused, developers could propose sharing available space in nearby buildings. For buyers, they can only hope.

Construction 36

Construction Development Inventory Buyers 36