Appraisal Buzz

APRIL 2, 2024

Home prices are rising faster than wages in half the U.S., And while the portion of wages needed for home ownership dipped in the first quarter compared with the fourth quarter, it remained up annually in most of nation. Home Affordability Report. hit in the first quarter of 2021. a report from ATTOM shows.

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Housing Wire

DECEMBER 27, 2022

The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. Over the past 14 years, FHA has insured 9.1 million in mortgages valued at $1.7

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Insurance Home Value Mortgage Marketing 467

Housing Wire

MARCH 11, 2021

Finance of America Reverse will soon debut a hybrid product that combines elements of a reverse mortgage with a forward mortgage. The lender says it’s an innovative approach to servicing borrowers who are in retirement age but don’t qualify or wish to refinance into a long-term mortgage. Presented by: MCT.

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Housing Wire

FEBRUARY 26, 2024

Reverse mortgage loan originators all seem to agree that 2024 is off to a better overall start in business than a tepid 2023 might suggest. EquityAvail was launched in early 2021 , and is a single, fixed-rate mortgage that is fully disbursed at closing with a maximum amount of up to $4 million.

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Appraisal Buzz

JULY 18, 2022

The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. Assuming a $250,000 loan was committed on December 31, 2021, your monthly payment was approximately $1,007 exclusive of escrow for real estate taxes and insurance.

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Housing Wire

AUGUST 8, 2023

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation , a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 billion volume of the previous year, per the mortgage data platform Modex. And he hasn’t done so voluntarily. billion in 2022, down 41.3%

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Housing Wire

FEBRUARY 1, 2023

Interest rates, though down slightly in recent weeks, are still double what they were at the end of 2021, and the Federal Reserve continues its monetary tightening policies to fight inflation. Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range]. in year one, go to 5.2%

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Housing Wire

JANUARY 13, 2023

The nation’s single-family investment-property sector and the lenders serving those borrowers face some major challenges in 2023 as rent growth is slipping, vacancy rates growing, home-value growth faltering, and a possible recession looms. . Mortgage production in 2022 nationally was down about 50% from $4.44 in June to 6.5%

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Housing Wire

JUNE 10, 2022

A survey by Pew Research published in October of last year found that about half of all Americans (49 percent) think the lack of affordable homes is a major problem where they live. According to the Radian Home Price Index, provided by Radian subsidiary Red Bell Real Estate, home price appreciation set a record in 2021, rising 14.2%

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Housing Wire

JANUARY 9, 2023

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. The Northmarq report points out that the BFR sector currently accounts for only a small slice of overall home starts, at about 6%. Riding a cresting wave.

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Housing Wire

DECEMBER 20, 2021

“We disagree with the notion that high-cost areas need a higher loan limit to make homes affordable to local buyers,” Redwood President Dashiell Robinson said. “In there are many others) in which the GSE loan limits are supporting home values for income levels that are two-times that county’s median household income.

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Housing Wire

MARCH 26, 2024

Just for a moment, let’s imagine a world in which a person purchases a home shortly before a global pandemic. Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs.

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Cleveland Appraisal Blog

OCTOBER 29, 2021

In appraisals completed for mortgage lending purposes, some lenders require that the total remaining life of a home not be less than the term of the mortgage. For instance, FHA requires that homes being funded FHA have a remaining economic life of at least the term of the loan. So, what’s an appraiser to do?

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D Fritz Appraisals

JUNE 15, 2021

As of May 3rd, 2021, new updates to the Canada Mortgage and Housing Corporation (CMHC)’s First-Time Homebuyers Incentive have come into effect. Victoria is now one of the few cities that has been given enhanced eligibility criteria to help you qualify for a lower monthly mortgage payment. Am I A First-Time Homebuyer?

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Appraisal Today

SEPTEMBER 29, 2023

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, VA, flood and fires no insurance, retirement, few lender appraisals, unusual homes, mortgage origination $22M Modern Mansion on 130 Acres in Napa Has Its Own Cabernet Vineyard Excerpts: 6 bedrooms, 6.5+ Risk to Home Values.

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Housing Wire

APRIL 27, 2023

And yet another big force in the market, FirstKey Homes , is pulling collateral out of a 2021 securitization deal. Salmanson is CEO of Cherre , a fintech that works with major players in the real estate market, including insurers, asset managers, lenders and SFR operators. billion [due to increased home values]. “…The

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Eppraisal

APRIL 27, 2021

I t has always been said that owning a home is the American dream. According to the latest 2021 statistics from ipropertymanagement.com, "44.1 households rent their homes." Some have no other choice than to rent a home, others are qualified to purchase a home but have decided not to. million or 35.9%

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Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007.

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Eppraisal

APRIL 8, 2022

Home values have been rising at historical rates. If you sold your home in 2021, you may be eligible for a capital gains tax deduction if you sold your home for a profit. In the past, mortgage interest deductions have been a long-standing benefit of owning your own home.

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Lamacchia Realty

DECEMBER 21, 2023

The number of new listings as well as average sale price has increased for single family homes and condos/townhomes across all three counties. Mortgage rates in November fell from the October highs, coming down to the low 7s towards the end of the month, per Mortgage News Daily. What does this mean for Buyers ? What’s next?

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Cleveland Appraisal Blog

OCTOBER 1, 2021

This week, I am also working on a new Home Value Stories podcast episode. When you’re downsizing your home with a pet as your roommate, your animal may experience anxiety and uncertainty during the entire moving process. Shelby County Luxury Home Market Update – 2021 – Birmingham Appraisal Blog.

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Eppraisal

SEPTEMBER 18, 2021

In September of 2021, Hurricane Ida struck the Gulf Coast in normal hurricane fashion, inflicting wind damage, causing power outages and dumping a lot of water. After nearly nine inches fell in a single day, homes and buildings were irreparably ravaged; roads and highways were washed out; and several people were killed. Now they do.

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Lamacchia Realty

JANUARY 24, 2024

Per Mortgage News Daily , mortgage rates dropped into the mid-6s by the end of the month. There are serious buyers in the market NOW, so make sure you are pricing your home competitively to generate the most demand for your home if you plan on listing this winter. What does this mean for Buyers ?

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Lamacchia Realty

NOVEMBER 27, 2023

Mortgage rates officially went over 8% in the month of October according to Mortgage News Daily. Home sales in South Florida are down slightly, just 2% when compared to this time last year. Not only is affordability a concern for buyers given current mortgage rates, inflation, etc., What’s happening in the market?

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Lamacchia Realty

MARCH 28, 2023

Condos were an attractive option during the frenzied pandemic housing market when single-family inventory was depleted, but now demand has been negatively impacted by several new pieces of legislation as well as increased expenses for condo owners resulting from the Surfside Collapse in 2021. Buyers, falling mortgage rates is good news!

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Appraisal Today

MARCH 22, 2024

NOTE: Please scroll down to read the other topics in this long blog post on Fannie March Update, Bias and not using time adjustments, Climate change effects on risk and values, answer your phone if you want more appraisal business, unusual homes, mortgage origination stats, etc. Mortgage applications decreased 1.6

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Eppraisal

AUGUST 16, 2022

Before, during and after the COVID-19 pandemic, home prices steadily climbed. These increases, combined with a growing but still modest inventory of houses for sale, make for hard times for banks and other mortgage lenders. Mortgage rates are doing likewise. Because of these occurrences, lenders may be down.but not out.

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Appraisal Today

JUNE 23, 2023

NOTE: Please scroll down to read the other topics in this long blog post on AVMs and AI, good appraisal book, Real estate market, Fannie, non-lender appraisals, unusual homes, mortgage origination stats, etc. Beyond its gated entry, a retreatlike 14,000-square-foot mansion with 4.5

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Will Springer Realtor

APRIL 10, 2024

INSURANCE FOLLOW-UP The top item in last month’s newsletter struck a chord with readers. Insurance companies may argue, however, that the costs are simply increasing along with home values. The average mortgage holder paid $4.90 in homeowners insurance premiums for every $1000 of their home’s value in 2022.

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The Robert Weiler Company

SEPTEMBER 7, 2022

Low mortgage rates have steadied, welcoming batches of new buyers eager to own a home in the market. Figures from the Ohio REALTORS® Housing Market Report reveal that Ohio home sales reached historical levels in May 2022. Homes sales reached 14,210 in May 2022, a 1.8% increase from the May 2021 sales level of 13,955.

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Listing Spark

OCTOBER 13, 2022

The Austin market has cooled down significantly since 2021 and early 2022. There is more inventory available and home sales are down. In August, the median home value in the greater Austin metropolitan area was $496,000 and that’s up 5%. 00:12:48] How mortgage rates impact the housing market and buyer preferences.

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Housing Market Real Estate Marketing Buyers 36

Will Springer Realtor

DECEMBER 8, 2021

GREATER BUYING POWER Buyers who are struggling to purchase a home in this frenzied housing market will receive a bit of a lifeline in 2022. The federal guarantors of most consumer mortgages have agreed to raise the borrowing limits on 30-year conforming loans. short of providing homes for purchase to those who want one. >>

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Sellers Marketing Supply Chain Construction 36

Will Springer Realtor

AUGUST 9, 2022

RECESSIONS AND MORTGAGE RATES Recent data and the traditional definition show we are now in a recession even though there is debate among economic and political folks. this chart shows, each time the economy slowed significantly, mortgage rates declined. In fact, rates have fallen by an average of 1.1

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Will Springer Realtor

NOVEMBER 12, 2021

As home values rise, low-income households already on the margins of affordability are being priced out of homeownership in urban areas such as Seattle, where median prices have jumped 37% (and 52% countywide) over the past five years. Those rates were hovering around 3.125%-3.25% for most mortgage shoppers in October.

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