Housing Wire

MARCH 29, 2022

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. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months. Wait, what?

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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 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. Once again, modern brain-body science jumps ahead and teaches me things. It turns out gratitude is a tool. Even better. Unbelievable!

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Will Springer Realtor

JANUARY 9, 2024

The Federal Reserve recently updated its forecast, hinting at a potential decrease of about 75 basis points (0.75%) in its short-term lending rate by the year’s end – promising news for borrowers in 2024. Treasurys and mortgage-backed securities. At the same time, many homeowners are sitting comfortably with low mortgage rates.

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Appraisal Today

FEBRUARY 9, 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!! single-family homes for sale in the fourth quarter were new construction. Acre lot, built in 2023 as a spec home. .

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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. million. “I

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Appraisal Today

OCTOBER 13, 2023

Though the hotel never came to be, the lobby, which appears to grow out from within the rocky overlook, was constructed. While most of the changes won’t have a significant impact on how you perform appraisals, it is nevertheless important to know and understand the changes before they go into effect on January 1, 2024. can add up.

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Appraisal Today

APRIL 26, 2024

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. The One-Mile Rule: Prudent Policy or Modern Day Redlining? April 24, 2024) — Mortgage applications decreased 2.7

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Appraisal Today

FEBRUARY 16, 2024

In my city of 78,000 population, there are over 10,000 buildings constructed prior to 1930, including many classic Victorians. the price of the Naples compound was justified not only because of the size, location, and yacht basin, but also because it would be difficult to construct such a property again. acres of coastal land.

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Will Springer Realtor

OCTOBER 3, 2023

Cities and counties are not required to authorize the construction of an ADU where development is currently restricted under rules related to the proximity of an on-site sewage system, critical environmental areas or other unsuitable physical characteristics of a property like where there are landslide risks.

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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. What Fannie Says About 3d Printed Homes in Announcement SEL-2023-08September 6, 20233D printed homes are an innovative building technique that brings efficiency and potential cost savings to new home construction.

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Will Springer Realtor

MARCH 10, 2023

However, many potential buyers appeared to be in a wait-and-see mode amid a backdrop of rising mortgage rates that usually spell affordability challenges. The structures have been topped out and construction cranes are coming down. The 20-story luxury condo Mari is under construction with a 2024 target opening.

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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 There is none of this!

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Will Springer Realtor

DECEMBER 12, 2023

To a happy 2024! = It was a year of gyrating mortgage rates and stubbornly high home prices. Mortgage rates rose and rose again to more than 8% but have since mercifully fallen by nearly a percentage point. Just for Fun: In December 2022, the National Association of Realtors® projected mortgage interest rates would be 5.7%

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Will Springer Realtor

NOVEMBER 10, 2023

Clarence Stone, from American Political Science Review, offered this after reading Privatopia: “For those genuinely concerned with the moral fiber of modern America, they might well heed McKenzie’s warning about uncritically accepting the privatization of citizenship in an income-segregated society.” Six out of 10 builders in the U.S.

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Will Springer Realtor

AUGUST 11, 2023

NAR’s Housing Affordability Index is a good measure of whether a household earns enough to qualify for a mortgage on a typical home. Others are specializing in the design and construction of accessory dwelling units (ADUs) as detached backyard homes (also known as “ mother-in-laws ”). >> Bellevue is rated No.

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Will Springer Realtor

MAY 9, 2023

They have also been spending oodles of money to shape their residences to meet new living needs – modern and spacious, when possible – as households live in their homes for longer. Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%.

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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 Today

MAY 5, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Appraisal Institute President, non-lender appraisals, Changing state appraisal laws, Fannie modernization, unusual homes, mortgage origination stats, etc. I strongly support Byron Miller for 2024 AI Vice President. Mortgage applications decreased 1.2

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Will Springer Realtor

MAY 9, 2022

All this tech construction gives new meaning to IT architecture! “A Another 1350 are under construction with delivery in the next two years, including the high-end Avenue Bellevue. That’s where buyers are paying about 42% more in their monthly mortgage payments for the same house today than they did a year ago. million sq.

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Will Springer Realtor

OCTOBER 11, 2023

Suburban residents can be almost assured of the peaceful enjoyment of their home without worrying about a neighbor constructing a rollercoaster or baseball stadium next door. It would cost the owner of an $800,000 home in Seattle about $360 in 2024, or more than triple the expiring housing levy of $115. . = Zoning laws in the U.S.

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Will Springer Realtor

MAY 13, 2024

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. Homes considered “affordable” tend to be at or below 80% of median family income levels and only 23,877 units have been constructed across the state since 2020 – about 3.3K

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Will Springer Realtor

MARCH 11, 2024

Some are even considering forgoing insurance altogether, risking their financial security once mandated by mortgage lenders. at the start of 2024 after increasing them by 8.7% Our state’s mortgage holders with at least half of their home equity fell from 56.7% Source ) Locally, Puget Sound Energy raised electric rates by 1.7%

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Will Springer Realtor

MAY 12, 2021

Home prices are overheating, mortgage rates are inching up from the start of the year and the supply of homes is in an unseasonable valley – far from its Mt. Roughly 20 million Millennials will be entering their 30s, typically the time they purchase their first home, between now and 2024. Rainier-esque peak of a decade past!

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Will Springer Realtor

JUNE 9, 2023

mortgage holders considered “equity rich” – with 50% or more equity in their homes – fell in Q1 to 47.2% mortgage holders considered “equity rich” – with 50% or more equity in their homes – fell in Q1 to 47.2% of mortgage holders in our state are equity rich, down from 58.5% JUNE HOUSING UPDATE Home prices and mortgage rates.

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Will Springer Realtor

OCTOBER 11, 2022

At what point will mortgage interest rates peak? While investors of mortgaged securities help dictate their interest rates, the Federal Reserve is behind the scenes influencing the overall lending environment. When you raise [mortgage] rates to the point they’re at today, it breaks the back of housing.”. falls into a recession.

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