Housing Wire

JUNE 17, 2024

Dozens of former employees at Guaranteed Rate say the mortgage lender has fostered a toxic work environment — including verbal abuse, misogyny and bullying — amid the laser focus of its founder and CEO, Victor Ciardelli, on making money and growing the business, according to a report published Saturday by the Chicago Tribune.

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Human Resources Law Loan Officers Legal 428

Empire Appraisal Group

AUGUST 15, 2024

million new homes are under construction and housing completions in February hit their highest level in 17 years. ” When mortgage interest rates skyrocketed to nearly 8% in October 2023, homeowners stayed put because they didn’t want to lose their lower mortgage rates. .” by the end of 2024.

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Housing Market Marketing Construction Contracts 78

Appraisal Today

NOVEMBER 3, 2023

Advisory Opinions For 2024, the ASB has retired Advisory Opinion 16 (AO-16) and replaced it with two new Advisory Opinions, AO-39 and AO-40. These requirements are carried forward in the 2024 edition of USPAP. USPAP 2024 is effective January 1, 2024. To read more, click here My comments: Be sure to read this blog post.

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Appraisal Contracts Architecture Mortgage 81

Housing Wire

JANUARY 23, 2024

home sales in nearly 30 years as high mortgage rates frustrate buyers, the market is reshaping real estate once again, placing buyers on the back foot and swinging the pendulum back to favoring sellers. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers.

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Real Estate Agent Real Estate Buyers Agents 450

Housing Wire

JULY 13, 2024

In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. This meant mortgage rates were significantly higher than average. Mortgage spreads Last year, the 10-year yield hit 5% and mortgage rates got above 8%.

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Mortgage New Listings Inventory Contracts 504

Appraisal Today

SEPTEMBER 13, 2024

percent from one week earlier ———————————————————————————- 2024 Updated UAD and URAR – What does It Mean for You? On the plus side, I learned a lot about construction!

Construction 74

Construction Appraisal Contracts Mortgage 74

Appraisal Today

APRIL 5, 2024

NOTE: Please scroll down to read the other topics in this long blog post on appraiser discrimination lawsuit, waivers, staying positive with slow business, appraiser’s economic forecast, unusual homes, mortgage origination stats, etc. The second development in the case is that on March 22, 2024, the attorneys for Drs.

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Appraisal Contracts Business Construction 81

Appraisal Today

NOVEMBER 24, 2023

The Surfing Appraiser Riding the Waves of Up and Down Mortgage Rates By Mark Buhler Excerpts: Riding the waves of the appraisal profession can result in a range of outcomes and emotions over time. The main house is just the end modules of shipping containers, and the rest is steel construction.” Mortgage applications increased 3.0

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Appraisal Mortgage Business Contracts 79

Appraisal Today

JANUARY 5, 2024

Five USPAP Myths Dispelled in 2024 USPAP By Daniel A. Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. Excerpts: 4 Bedrooms, 4.5 baths, 4,000 sq.ft.,

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Appraisal Contracts Business Legal 80

Housing Wire

JULY 23, 2024

Mortgage rates continue to move lower this week even as higher borrowing costs have kept activity subdued across many areas of the housing market. Lower mortgage rates are having a positive impact on application levels, with the Mortgage Bankers Association (MBA) reporting last week that applications were up 3.9%

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Mortgage Real Estate Agent Finance Buyers 500

Housing Wire

JANUARY 19, 2024

Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. million units by the fourth quarter of 2024, up from 3.8 trillion in 2024 and $2.44

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Mortgage Contracts Construction Government 541

Housing Wire

AUGUST 29, 2024

for two years, right along with rising mortgage rates. According to Altos Research , there are 40% more homes on the market at the end of August 2024 than there were last year at this time. Since mortgage rates started rising in 2022, Americans have shifted into what we might call The Great Stay. We’re moving less.

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Inventory Real Estate Housing Market Construction 458

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

Construction 284

Construction Retail Mortgage Contracts 284

Appraisal Today

MARCH 15, 2024

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = Mortgage rates were 18%+. By Dallas T. I worked for an assessor’s office then.

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Appraisal Inspection Modernization Business 73

Appraisal Today

JUNE 21, 2024

Appraisers Riding the Waves of Up and Down Mortgage Rates Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! It tells us more about the trend one month ago when the property got into contract. baths, 13,690sqft 5.8 per month, $24.75

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Appraisal Architecture Contracts Design 74

Appraisal Today

FEBRUARY 23, 2024

The challenge of pulling comps in 2024 By Ryan Lundquist February 14, 2024 Excerpts: Pulling comps in 2024 is tough. I also have some market recap visuals to unpack what’s been happening in 2024 so far. A local lender gave me an appraisal assignment on the proposed construction of 7 units in the city.

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Appraisal Real Estate Contracts Reconsideration of Value 72

Appraisal Today

APRIL 26, 2024

What should appraisers look for in a sales contract? NOTE: Please scroll down to read the other topics in this long blog post on agent concessions, History of appraisal bias back to 1930s, “one mile” rule and bias, unusual homes, mortgage origination stats, etc. April 24, 2024) — Mortgage applications decreased 2.7

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Appraisal Real Estate Real Estate Agent Contracts 81

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. Georgian Country Mansion in Greenwich, CT Listed at $33.8M

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Appraisal Contracts Business Insurance 69

Appraisal Today

JANUARY 19, 2024

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, and types of bias, Scams on black homes, unusual homes, mortgage origination stats, etc. An example of this in real estate appraisal is the purchase and sale contract. January 17, 2024) — Mortgage applications increased 10.4

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Appraisal Contracts Real Estate Architecture 77

Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

Construction 466

Construction Housing Market Inventory Buyers 466

Housing Wire

MAY 22, 2023

Pending home sales, which lead contract signings on average by 30-45 days, declined during that time by 5.2%, pointing to a further sales slowdown in April and May. For 2024, the agency anticipates volumes of $2.03 For 2024, the agency anticipates volumes of $2.03 Fannie Mae projected total originations for 2023 to be $1.65

Construction 397

Construction Inventory Government Contracts 397

Appraisal Today

JULY 28, 2023

NOTE: Please scroll down to read the other topics in this long blog post on non lender appraisals, USPAP and Bias, Fannie changes, unusual homes, mortgage origination Futuristic in Folsom, CA, near Sacramento for $2,395,000 4bed 4.5+bath Varies widely around the country. == Mortgage applications decreased 1.8 What’s next?

Appraisal 84

Appraisal Contracts Mortgage Clients 84

Empire Appraisal Group

JANUARY 11, 2023

But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict. Next year, mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, according to NAR’s forecast. compared to 2022.

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Real Estate Marketing Buyers Sellers 78

Housing Wire

MAY 28, 2024

Every state in the country has more homes on the market now than a year ago and, in many places, new construction is being completed and added to inventory, so it’s not just resale inventory that’s growing. real estate market at the end of May 2024. And this trend will continue until mortgage rates drop significantly.

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Inventory New Listings Contracts Sellers 533

Appraisal Today

OCTOBER 20, 2023

NOTE: Please scroll down to read the other topics in this long blog post Modular Homes Data Plates, ADU income, Pickleball courts and other interesting home improvements, , unusual homes, mortgage origination and more! Some use postal mailings or office visits, such as you did in the mortgage broker days. Or hit the reply button.

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Appraisal Design Contracts Inspection 76

Appraisal Today

JANUARY 26, 2024

New USPAP Q&As January 16, 2024, the Appraisal Standards Board released new Questions and Answers covering important topics in the profession today including: Demographics Does demographic information relating to race (such as Census data) constitute “information relating to” a protected characteristic? baths, 16,225 sq.ft.,

Appraisal 90

Appraisal Contracts Mortgage Inspection 90

Housing Wire

FEBRUARY 26, 2024

It’s not the safest business model either because builders take a contract to buy a home and then, from start to finish, hope that mortgage rates don’t jump on the buyer by the time the home is ready. So, the bar is still low if mortgage rates can come down and the builders can sell more homes. million new homes being sold.

Construction 530

Construction Business Contracts Marketing 530

Housing Wire

JANUARY 20, 2023

Homebuilder confidence and demand for mortgages have increased recently, keeping hopes high for an improved housing market in 2023. But a modest recession is still expected this year, and elevated mortgage rates, coupled with high home prices, will limit housing activity, according to Fannie Mae. Prices are expected to fall 6.7%

Mortgage 397

Mortgage Housing Market Buyers Contracts 397

Housing Wire

DECEMBER 19, 2022

Mortgage rates are down from above 7% in recent weeks to about 6.3% As builders look to improve their sales, 62% reported using incentives, including providing mortgage rate buydowns, paying points for buyers and offering price reductions. However, builders can only slash prices so much.

Contracts 421

Contracts Construction Buyers Real Estate 421

Appraisal Today

AUGUST 23, 2024

August 23, 2024 What’s in This Newsletter (in Order, Scroll Down) Construction Progress Reports: ADUs & Remodels What Is an Appraisal Review and Who Can Be a Reviewer? Mortgage rates and requirements are lower for SFRs. The book is still relevant in 2024. It was my last review for lending purposes. Acre lot. “One

Appraisal 72

Appraisal Contracts Investors Mortgage 72

Appraisal Today

JUNE 10, 2022

The Inevitable Cyclicality of Mortgage Lending. NOTE: Please scroll down to read the other topics in this long blog post on declining mortgage loans, real estate market, unusual homes, mortgage origination stats, etc. ==. recession to begin in 2023, which gathered more votes than 2022 (30%), 2024 (8%) or 2025 and beyond (17%).

Appraisal 52

Appraisal Contracts Business Mortgage 52

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. New contracts dipped as affordability is out of reach for so many. Last year inventory was about to start climbing again with that autumn spike in mortgage rates. This year, while mortgage rates are high, they aren’t climbing now.

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Contracts Inventory Housing Market Buyers 410

Housing Wire

JANUARY 4, 2023

While uncertainty still exists, a growing set of signs, including an inverted yield curve, weakness in the Conference Board’s Leading Economic Index, slowing consumer spending and a slowdown of manufacturing activity, support our ongoing contention that the economy is likely to contract next year. In 2024, we expect home sales to rebound 14.7

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Housing Market Marketing Mortgage Contracts 530

Appraisal Today

MAY 19, 2023

NOTE: Please scroll down to read the other topics in this long blog post on hybrid appraisals, business tips, UAD info from Freddie, Fannie modernization, non-lender appraisals, unusual homes, mortgage origination stats, etc. = If you started appraising before AMCs took over, such as mortgage brokers, you had to do some marketing.

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Appraisal Business Contracts Real Estate 52

Housing Wire

DECEMBER 7, 2020

The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. months, the builders are ok with construction as long as new home sales grow.

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Inventory Construction Government Housing Market 545

Housing Wire

JANUARY 19, 2024

Today, we need context for the growth we’ll see in existing home sales in 2024. We don’t have any data that shows sales are crashing from this low level: this is key when looking at the future because it does give us a place to grow sales as long as mortgage rates fall. This is a positive for housing in 2024 as most sellers are buyers.

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Housing Market Inventory Contracts Marketing 473

Appraisal Today

SEPTEMBER 6, 2024

Newz: Disturbing AMC Violations, Appraiser and Real Estate Agent Communication September 6, 2024 What’s in This Newsletter (In Order, Scroll Down) Top 10 Things Appraisers Wish Real Estate Agents Understood Divorce Appraisal Red Flags Carmel’s Iconic and Artistic ‘Owl House’ $3,750,000 Housing Market Update: August 2024 Please!

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Real Estate Agent Real Estate Appraisal Agents 89