Appraisal Buzz

MARCH 26, 2024

New home sales were at a seasonally adjusted annual rate of 662,000 in February, down 0.3% compared with January but up 5.9% compared with February 2023, according to the U.S. Census Bureau. The median sales price of new home sold in February 2024 was $400,500. The average sales price was $485,000. As of the end of the month there were about 463,000 new home available for sale in the U.S., about an 8.4-month supply at the current sales rate.

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Appraisal Buzz

MARCH 26, 2024

The total number of U.S. homes for sale climbed 5% during the four weeks ended March 17, the biggest year-over-year uptick since May 2023, according to Redfin. As of March 17, there were roughly 795,645 active listings. There were roughly 88,902 new listings added during that same four weeks – and increase of 15% and the biggest increase since June 2021.

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Appraisal Buzz

OCTOBER 24, 2022

Adjustments are approached in different ways by appraisers everywhere. Changing market data, trends, and consistent work files all impact adjustments – learn from the experts during our free webinar on October 31 st at 2 pm, “ Adjustments: What’s in Your Workfile? ” with Mel Black of McKissock, John Dingeman, Chief Appraiser of Class Valuation, and Danny Wiley, Senior Director of Single-Family Valuation at Freddie Mac.

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Appraisal Buzz

OCTOBER 11, 2022

New amendments seek to remove barriers to the FHFA’s Enterprise Duty to Serve activities in high-needs rural regions of the nation’s southern border states. The post FHFA Proposes Rule to Assist U.S. Border States appeared first on Appraisal Buzz.

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Appraisal 150

Appraisal Buzz

OCTOBER 11, 2022

With many households unable to afford necessary expenses as a result of rising rates and inflated home prices, a recent study from LendingTree revealed that many American homeowners report being worried about or likely to leave their home due to foreclosure in the next two months. The post Nearly a Million Americans Fear Losing Their Home to Foreclosure appeared first on Appraisal Buzz.

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Appraisal 195

Appraisal Buzz

OCTOBER 11, 2022

This might seem counterintuitive, but when your business is growing and you are finding new clients, that’s the best time to start dabbling in a new side hustle apart from … Read More. The post Spotlighting Moonlighting appeared first on Appraisal Buzz.

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Appraisal Buzz

OCTOBER 11, 2022

According to the latest analysis from First American Financial, education is one of the main, long-term drivers that are fundamental to housing demand that will gradually position the housing market to rebound from current challenging economic conditions. The post Educated Millennials Fueling Homeownership Demand appeared first on Appraisal Buzz.

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Housing Market Appraisal Marketing 195

Appraisal Buzz

OCTOBER 11, 2022

Despite rising prices and speculation about looming recession, the Office of the Comptroller of the Currency reports that the performance of first-lien mortgages held by the federal banking system improved throughout the course of Q2 2022. The post Q2 First-Lien Mortgage Performance Improves YoY appeared first on Appraisal Buzz.

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Mortgage Appraisal 195

Appraisal Buzz

SEPTEMBER 30, 2022

A group of seven banks and trade groups are taking legal action in the Eastern District of Texas, challenging the Bureau’s update to the Unfair, Deceptive, or Abusive Acts or Practices Section of its exam manual, and for potentially violating the Administrative Procedure Act. The post CFPB Accused of Exceeding Statutory Authority appeared first on DSNews.

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Appraisal Buzz

SEPTEMBER 30, 2022

A financial services veteran, Almodovar brings more than 30 years of finance, real estate, and community development expertise and a strong commitment to affordable housing. The post Priscilla Almodovar to Serve as Fannie Mae CEO appeared first on DSNews. The post Priscilla Almodovar to Serve as Fannie Mae CEO appeared first on Appraisal Buzz.

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Appraisal Buzz

SEPTEMBER 16, 2022

Twenty-five-year industry veteran will be responsible for the Ewing, New Jersey-based mortgage loan subservicer’s loan boarding, acquisitions, and transfers, as well as identifying opportunities to automate processes and improve operational efficiencies. The post Gary Gaskin Joins Cenlar as VP of Transfer Services appeared first on DSNews. The post Gary Gaskin Joins Cenlar as VP of Transfer Services appeared first on Appraisal Buzz.

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Appraisal Buzz

SEPTEMBER 16, 2022

ATTOM has released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, unemployment and other measures in Q2 of 2022. The report shows that New Jersey, Illinois, and inland California continued to have the highest share of the most-at-risk markets in Q2 … The post Most At-Risk Counties Clustered in Chicago, New York City Area appeared first on DSNews.

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Appraisal Buzz

SEPTEMBER 17, 2022

An upcoming House Financial Services Committee hearing will discuss climate change’s impact on the nation, as wildfires burned an average of 6.8 million acres annually, putting homeowners in at-risk areas in jeopardy. The post The Week Ahead: House Committee to Examine the Impact of Wildfire appeared first on DSNews. The post The Week Ahead: House Committee to Examine the Impact of Wildfire appeared first on Appraisal Buzz.

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Appraisal 195

Appraisal Buzz

SEPTEMBER 16, 2022

Fannie Mae has announced it has appointed Anthony Moon as Executive Vice President and Chief Risk Officer (CRO), effective starting in the fourth quarter 2022. In this role, Moon will be responsible for Fannie Mae’s Enterprise Risk Management, which oversees the company’s governance and strategy for global risk management. Moon will be a member of … The post Fannie Mae Onboards New Chief Risk Officer appeared first on DSNews.

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Appraisal Buzz

SEPTEMBER 5, 2022

This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The reality is there is no universal acceptance of a single method of measurement to differentiate “good” from “bad.

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Appraisal Buzz

AUGUST 23, 2022

Seeking input from several industry stakeholders, the FHFA’s new Advisory Committee will guide the Agency on its commitment to transparency and drafting policy that will connect equitable access with safety and soundness in the nation’s housing marketplace. The post FHFA Forms Committee on Affordable, Equitable, and Sustainable Housing appeared first on DSNews.

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Appraisal 150

Appraisal Buzz

AUGUST 23, 2022

Home sales showed no signs of stopping its recent descent in July 2022, as sales dropped to their lowest level since the beginning of the pandemic when the market was at a near standstill. According to Redfin, home sales dropped 19.3% year-over-year in July, and by another measure, home sales dipped 4.1% month-over-month, the sixth-straight … The post July Home Sales Drop to Levels Not Seen Since Early in the Pandemic appeared first on DSNews.

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Appraisal Buzz

AUGUST 23, 2022

With the housing market gradually returning to pre-pandemic norms and mortgage rates surging over 2.5 percentage points in 2022, many homeowners are choosing to renovate their living spaces rather than search for a new home. According to a new study by House Method, 55% of homeowners reported renovating a part of their home in the … The post Homeowners Opting for Improvements Over Shopping for New Homes appeared first on DSNews.

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Appraisal Buzz

AUGUST 23, 2022

One of Fannie Mae’s missions is to facilitate equitable and sustainable access to homeownership and quality affordable rental units across the country which provide a stronger and more efficient housing system for all. But as a major source of mortgage financing in the U.S., the Government Sponsored Enterprise (GSE) needs to be at the cusp … The post Fannie Mae Advocates for Additional Demographic Loan Data appeared first on DSNews.

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Appraisal Buzz

AUGUST 23, 2022

In the beginning of the COVID-19 pandemic, when the State of Idaho shut down, my company and I took a remote appraisal assignment. Because of the local stay-at-home order, we … Read More. The post Knowing Is Half the Battle appeared first on Appraisal Buzz.

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Appraisal 195

Appraisal Buzz

AUGUST 11, 2022

Twenty-five-plus-year audit executive to join GSE to monitor key risks assessments, and replace the retiring J. Douglas Watt, Fannie Mae’s current SVP and Chief Audit Executive. The post Cissy Yang to Join Fannie Mae as Chief Audit Executive appeared first on DSNews. The post Cissy Yang to Join Fannie Mae as Chief Audit Executive appeared first on Appraisal Buzz.

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Appraisal 39

Appraisal Buzz

JULY 19, 2022

Total commercial and multifamily mortgage borrowing and lending is expected to fall to $733 billion this year, down 18% from 2021 totals ($891 billion), according to an updated baseline forecast from the Mortgage Bankers Association (MBA). “The rapid changes taking place across space, equity and debt markets are having a significant effect on commercial and multifamily real estate transaction volumes,” says Jamie Woodwell, MBA’s vice president for commercial real estate researc

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Lending Real Estate Appraisal Mortgage 150

Appraisal Buzz

JULY 19, 2022

CoreLogic has released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. CoreLogic did not have much good news to report for the month of May 2022 as single-family rent growth remained at a record high during the month, posting a 13.9% year-over-year increase.

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Appraisal 195

Appraisal Buzz

JULY 19, 2022

While single?family housing starts were down in June, home buyers today are presented with more options, as new-home inventory is accounting for a bigger share of the total housing supply. The post Dip in Housing Starts Boosting Inventory appeared first on DSNews. The post Dip in Housing Starts Boosting Inventory appeared first on Appraisal Buzz.

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Inventory Buyers Appraisal 195

Appraisal Buzz

JULY 19, 2022

Housing starts slowed in June, dropping to a seasonally adjusted annual rate of 1.559 million, a decrease of 2.0% compared with May and a decrease of 6.3% compared with June 2021, according to estimates from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. Starts of single?family homes were at a rate of 982,000, a decrease of 8.1% compared with May.

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Development Appraisal 195

Appraisal Buzz

JULY 19, 2022

Home shoppers are finding more options to choose from, more time to make decisions and even price cuts in some areas, according to Zillow’s latest market report. That’s largely because intensifying affordability challenges are thinning competition from a crowded field and giving newfound leverage to those who remain. “Those who can weather this storm of … The post Rent Growth Eases, Less-Expensive Metros Experience Smallest Decline in Sales appeared first on DSNews.

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Appraisal Buzz

JULY 19, 2022

Thirty-year bankruptcy specialist joins Pincus Law to serve as Managing Attorney of the firm’s default legal services practice in the state of Pennsylvania. The post Judith Romano Joins Pincus Law Group’s Pennsylvania Office appeared first on DSNews. The post Judith Romano Joins Pincus Law Group’s Pennsylvania Office appeared first on Appraisal Buzz.

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Appraisal Buzz

JULY 19, 2022

I was recently contacted by an individual with a question. This woman said that she has been using an iPad for years to do her mobile inspections, but had heard … Read More. The post Smart Inspections appeared first on Appraisal Buzz.

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Inspection Appraisal 195

Appraisal Buzz

JULY 19, 2022

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for June 2022 shows mortgage applications for new home purchases decreased 12% compared from a year ago. Compared to May 2022, applications decreased by 10%. This change does not include any adjustment for typical seasonal patterns. MBA’s monthly estimate of new single-family home sales, which has consistently been a leading indicator of the U.S.

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Mortgage Appraisal 195

Appraisal Buzz

JULY 8, 2022

Since entering conservatorship in 2008, Fannie Mae and Freddie Mac to date have assisted nearly 6.5 million homeowners with foreclosure prevention actions. Here’s what the GSEs’ latest data reveals. The post FHFA Provides Foreclosure, Refi, REO Updates appeared first on DSNews. The post FHFA Provides Foreclosure, Refi, REO Updates appeared first on Appraisal Buzz.

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Appraisal 150

Appraisal Buzz

JULY 8, 2022

Since entering conservatorship in 2008, Fannie Mae and Freddie Mac to date have assisted nearly 6.5 million homeowners with foreclosure prevention actions. The post Q1 REO Inventory Increases 3% appeared first on DSNews. The post Q1 REO Inventory Increases 3% appeared first on Appraisal Buzz.

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Inventory Appraisal 195

Appraisal Buzz

JULY 8, 2022

According to a new report from Redfin, after months of tipping heavily in sellers’ favor, the scales of the housing market are finally balancing out. Soaring housing costs caused many house hunters to drop out in recent months, which is now providing some relief for buyers who remain. Today’s buyers are seeing the housing shortage … The post Rates Cool, Balance Returning to Housing Market appeared first on DSNews.

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Housing Market Marketing Sellers Buyers 195

Appraisal Buzz

JULY 8, 2022

The 447 commercial chapter 11 filings in June represented a 29 percent increase from the 347 filings in June 2021, according to new data provided by Epiq Bankruptcy. Overall commercial filings decreased 7% in June 2022, as the 1,864 filings were down from the 1,999 commercial filings registered in June 2021. Small business filings, captured … The post Commercial Chapter 11 Filings Increase Nearly 30% in June appeared first on DSNews.

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Business Appraisal 195

Appraisal Buzz

JULY 8, 2022

The COVID-19 pandemic did not just cause a global health crisis; not only did it throw the economy in a tizzy but it made certain markets behave in ways people have not seen before and could not anticipate. But housing, one of the pillars of the American Economy, saw cost burdens worsen during the first … The post On the Pandemic and Affordability appeared first on DSNews.

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Appraisal Buzz

JULY 8, 2022

The post Aggression Analysis appeared first on Appraisal Buzz.

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Appraisal 370

Appraisal Buzz

JULY 8, 2022

Texas-based Velocity Credit Union has selected Black Knight Inc. ’s Black Knight Empower LOS and integrated origination solutions to support its members and employees with advanced automation and digital capabilities. “At Velocity, we’re dedicated to meeting the needs of our members for years to come, and our selection of Black Knight’s integrated technology, data and analytics is central to this mission,” says Lindsey Record, vice president of mortgage lending at Velocit

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Lending Technology Appraisal Mortgage 195

Appraisal Buzz

JULY 8, 2022

After months of tipping heavily in sellers’ favor, the scales of the housing market are finally balancing out, according to a new report from Redfin. Soaring housing costs caused many house hunters to drop out in recent months, which is now providing some relief for buyers who remain. Current buyers are seeing the housing shortage ease, price growth slow, competition decline and mortgage rates drop from their 2022 high.

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