Housing Wire
DECEMBER 29, 2022
As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. There are similarities and significant differences between the housing recession we’ve seen this year versus 2008, and looking at specific factors in both timeframes gives us an idea of what to expect in 2023.
Eyes on Housing
DECEMBER 16, 2022
Reflecting the unprecedented housing shortages across the United States in the post-pandemic market, U.S. vacancy rates hit their lowest readings in decades in 2021. According to NAHB’s analysis of the 2021 American Community Survey (ACS), owner vacancy rates dropped below 0.9% and rental vacancy rates reached a new low of 5.2%, the lowest levels recorded by the ACS since the.
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Padove Appraisal Service
DECEMBER 2, 2022
Every appraisal order begins with a customer consultation. This is an in-depth discussion of the home, and the purpose of the appraisal. Any method of communication can be used for this step of the process. The purpose of the consultation is to find out how the appraisal can help you. The consultation will aid in the understanding of the intended use of the appraisal.
Lamacchia Realty
DECEMBER 29, 2022
We are thrilled to announce that Nicole Vermillion has officially qualified for the 2022 President’s Club by surpassing $16,000,000 in sales volume! Nicole joined Lamacchia Realty in the Spring of 2021, and she took off running! Nicole loves to help people and be of service, and she has successfully guided many clients on their homeownership journey.
BiggerPockets
DECEMBER 19, 2022
Last week, the Fed raised its benchmark interest rate by half a percentage point, a slowdown from previous sprints. Still, the federal funds rate is at its highest since 2007. While […].
Mortgagebroker News
DECEMBER 19, 2022
2022 had unparalleled challenges for the mortgage industry. As we look ahead, technology is going to be at the forefront for successful brokers and lenders. CMPTV recently spoke with Joe Fakhri and Andrew Schultz from Scarlett Network by Axiom Innovations on where they think technology can improve effectiveness and efficiencies moving forward.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Eyes on Housing
DECEMBER 13, 2022
Consumer prices in November saw the smallest year-over-year gain since December 2021.While still elevated, inflation experienced the second month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and was more than offsetting decreases in energy indexes. Shelter inflation will primarily be cooled in the future via additional housing.
Eppraisal
DECEMBER 6, 2022
Buying and selling property is a big event for those gaining the asset and for those making money on the deal. Yet it is another day at the office for realtors, lenders, attorneys and title agencies. Still, the way these transactions go down goes well beyond the immediate participants. An array of factors influences the home value, mortgage interest rate, fees and timing of these exchanges.
Lamacchia Realty
DECEMBER 28, 2022
AJ Bruce has officially qualified for the 2022 President’s Club ELITE by closing on 50 transactions this year! This is AJ’s first time reaching this incredible milestone, and we couldn’t be happier for him! AJ has been serving the Greater Worcester area for many years and has consistently proven himself as a dedicated and hardworking REALTOR® year after year.
BiggerPockets
DECEMBER 4, 2022
If you talk about how to avoid taxes, most people will think you’re doing something fishy in the eyes of the IRS. Very few know you can use the tax […].
Mashvisor
DECEMBER 16, 2022
After a couple of years of turmoil in the real estate market, investors are eager to know the best states to buy investment property in 2023.
Housing Wire
DECEMBER 1, 2022
Over the past few years, we’ve seen an increased demand for smart home technology as consumers continue to embrace a digital lifestyle. “Smart home technology, whether it be keyless entry locks, smart thermostats or leak sensors, these are all things that, five or six years ago, were still pretty new to the marketplace,” said Andre Sanchez, COO of Rently, a smart home and self-guided touring solutions provider.
Eyes on Housing
DECEMBER 29, 2022
With the end of 2022 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In April of this year, the NAHB/Wells Fargo HMI confirmed that the market had turned and was headed lower due to higher interest rates. The HMI registered its fourth monthly decline in April, and as of December.
Eppraisal
DECEMBER 2, 2022
While in the process of purchasing a home, you are going to want to have a home inspection performed. It's a security blanket of sorts for you to be sure there aren't safety hazards and major defects in the home. Contracts to purchase homes have clauses in them that allow buyers to have a professional inspection performed, typically within the first five to ten days of signing the contract.
Lamacchia Realty
DECEMBER 19, 2022
We’re excited to announce that Krista Matthews has officially qualified for the 2022 President’s club by closing on 33 transactions this year! This is Krista’s first time qualifying for this distinction and we couldn’t be happier! Krista has consistently demonstrated a strong work ethic and a commitment to delivering top-notch service to all of her clients.
Mortgagebroker News
DECEMBER 6, 2022
After its recent expansion into Ontario, the lender is doubling down on its high service levels and broker-focused approach for next year
Clear Capital
DECEMBER 12, 2022
Taste buds rejoice! We’re proud to present the fourth annual Clear Capital Cookbook. This year’s cookbook is full to the brim with delicious beverages and baked goods recipes from the Clear Capital team. Download the Clear Capital Cookbook 2022! Beverages. Festive Red Sangria. Christmas in a Cup Hot Toddy. Spiked Peppermint Hot Chocolate. Thanksgiving Sangria.
Housing Wire
DECEMBER 21, 2022
On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Confused by this? I hear you; let’s dive deeper into today’s report. From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NA
Eyes on Housing
DECEMBER 26, 2022
With the end of 2022 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In May, Litic Murali reported on population data in the post-covid environment. The Census Bureau recently released its 2021 Metropolitan Statistical Area (MSA) annual population estimates. Between 2020 and 2021, 251 (65%) of the 384 MSAs within the.
Housing Wire
DECEMBER 27, 2022
Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) over asking price. High octane stuff.
Housing Wire
DECEMBER 2, 2022
The entire economic landscape, including mortgage rates, has changed this week, starting with the Fed’s talking points on Wednesday. The honey badger labor market is still going strong as we got another solid jobs report Friday, which pushed bond yields higher at first. However, the way the day ended showed that change is coming. We now have a better idea of what the Federal Reserve wants to do with their Fed rate hikes, and we have a lot of data that shows that the economy will look diffe
Housing Wire
DECEMBER 28, 2022
This article is part of our 2022-23 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Housing Wire
DECEMBER 27, 2022
FHA Commissioner Julia Gordon. 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. In recent months, the canary has been chirping with far less exuberance as inflation (now above 7% annualized ), rising mortg a ge rates , declining home values and the potential of faster-rising unemployment spur
Housing Wire
DECEMBER 16, 2022
This article is part of our Housing 2022-23 forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Housing Wire
DECEMBER 16, 2022
For most real estate industry professionals, title insurance needs no introduction. A trusted product , title insurance has been used to protect real estate transactions and property rights for over a century. However, most Americans don’t learn about title insurance until they buy their first home and amid the often stressful, frenetic activity of the closing process, homebuyers can be confused about many of the settlement costs and why they need to purchase a title insurance policy.
Housing Wire
DECEMBER 21, 2022
Figure Acquisition Corp. I , a blank check company affiliated with fintech Figure Technologies that planned to merge with a mortgage bank, will be delisted from the New York Stock Exchange. Figure’s plan to go public through a SPAC has been scrapped with the NYSE’s decision. The NYSE notified Figure on December 19 that it is “determined to commence proceedings to delist the company’s warrants from the NYSE and that trading in the company’s warrants would be suspended immediately,” ac
Housing Wire
DECEMBER 22, 2022
Mortgage industry executives, analysts and economists have started to place their bets on where mortgage rates will settle in 2023 amid the Federal Reserve’s tightening monetary policy and the fears of an economic recession. Spoiler alert: don’t expect much, if any, relief for borrowers in the short term. It’s true that after doubling over the course of a year, the 30-year fixed mortgage rate is trending downward at the close of 2022.
Housing Wire
DECEMBER 1, 2022
Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Established at the start of 2022, Hitch will give qualified owners access to up to 90% of the equity locked in their homes, the company said Thursday. One of the biggest benefits for Hitch users is speed, the company said.
Housing Wire
DECEMBER 14, 2022
On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . Growing concerns of a recession, led by the Federal Reserve ’s continued interest rate hikes next year, will prompt mortgage rates to trend lower in 2023, according to numerous experts.
Housing Wire
DECEMBER 20, 2022
The benefits of green building materials and practices have been discussed when creating our homes and workplaces for a while now. The COVID-19 pandemic required a light-speed adjustment in this direction, as our offices were locked down with stay at home orders and everyone worked away from office colleagues and technology support. Working remotely, although not a new concept, became our new normal, and hybrid and remote office environments will continue to be part of our future.
Housing Wire
DECEMBER 2, 2022
Defying economists’ expectations, job growth remained strong in November. Total nonfarm payroll employment rose by 263,000 jobs from October , according to data released Friday by the Bureau of Labor Statistics. So far this year, monthly job growth has averaged 392,000, down from an average of 562,000 per month in 2021. Even as the number of jobs continued to rise in November, unemployment remained unchanged from a month prior, holding steady at 3.7%, with 6.0 million persons unemployed.
Housing Wire
DECEMBER 1, 2022
Wells Fargo , the largest depository mortgage lender in America, cut hundreds of home lending jobs across the country on Thursday. Bloomberg first reported the news of the layoff, which is just the latest round of cuts for a lender that’s been open about its retreat from the upper echelon of the mortgage rankings. The company declined to state how many jobs were shed on Thursday.
Housing Wire
DECEMBER 30, 2022
“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank b
Housing Wire
DECEMBER 30, 2022
This week’s HW+ member spotlight features Chris Mozilo, divisional vice president, West Division at Newrez Wholesale. Below, Mozilo answers questions about the housing industry: HW Media: What is your current, favorite HW+ article and why? Chris Mozilo: I enjoy anything written by Logan Mohtashami. His use of clear explanations combined with charts makes this crazy market comfortably understandable.
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