March, 2022

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The housing market is now savagely unhealthy

Housing Wire

The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 million. This level is still within my 2022 forecast sales range between 5.74 million and 6.16 million. Last year I discussed sales levels coming back down to 5.84 million and I am looking for more of the same in 2022, at the 5.74 million level.

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Square footage, recessions, and gas prices

Sacramento Appraisal Blog

I have a few things on my mind today. Let’s talk about square footage rules changing, crazy gas prices, and recession buzz. 1) NEW SQUARE FOOTAGE STANDARDS FOR APPRAISERS: If you didn’t know, Fannie Mae is adopting some changes with the way appraisers measure square footage (pdf). In short, as of April 1, 2022, appraisers […].

Appraisal 440
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Protected: Accurity Consolidated Hires Tony Reese as Chief Production Officer

Appraisal Buzz

This content is password protected. To view it please enter your password below: Password: The post Protected: Accurity Consolidated Hires Tony Reese as Chief Production Officer appeared first on Appraisal Buzz.

Appraisal 418
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What First-Time Home Buyers Really Want

Eyes on Housing

Among first-time home buyers, a laundry room ranked as the most popular of the more than 200 home and community features listed in the recent NAHB study, What Home Buyers Really Want, 2021 Edition. The study is based on a nationwide survey of 3,247 recent and prospective home buyers, including 541 who bought, or were about to buy, their first.

Buyers 218
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The Real Rental Housing Crisis Is on the Horizon

Urban

New data show that landlords are increasing rental prices and instituting stricter screening criteria for renters, indicating a bleak rental market outlook for years to come.

Landlords 187
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Happy International Women’s Day to Women Appraisers!

DW Slater Company

What is International Women’s Day? Today is International Women’s Day! This day was founded in 1910. It was Clara Zetkin, an advocate for women’s rights, suggested the creation of an international women’s day. This idea was shared at the International Conference of Working Women in Copenhagen in 1910 – and the 100 women there, from 17 countries, agreed to it unanimously.

Appraisal 163

More Trending

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Starbucks cups & price per sq ft in real estate

Sacramento Appraisal Blog

It’s easy to get into valuation trouble when we focus too much on price per sq ft. Seriously, this can be a massive problem leading to major heartache during escrows. Okay, that sounds so dramatic, but it’s important to know how to explain how price per sq ft works. Let’s talk about this by using […].

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Five Common Issues Found in Appraisal Reports

Appraisal Buzz

Appraisals for mortgage finance transactions are subject to many levels of scrutiny and review. Post submission of an appraisal report ordered by an AMC for lending purposes, a quality control check of the report will be completed. Once the AMC deems the report satisfactory, it is forwarded to their client, the lender. The lender will run the report through automated underwriting and may have a QC process of their own.

Appraisal 397
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In the Bath, First-Time Buyers Really Want Both a Shower & Tub

Eyes on Housing

Among first-time buyers, both a shower stall and tub in the primary bath ranked as the most popular of the 18 bathroom features listed in the NAHB study, What Home Buyers Really Want, 2021 Edition. The study asked first-time, as well as repeat, home buyers to rate the kitchen features on the following, four-tier scale (which emphasizes how a feature.

Buyers 209
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9 Spots for the Best Pizza in Raleigh

Raleigh Realty

Where's the Best Pizza in Raleigh? Best Pizza in Raleigh? We have you covered. We know the rules too, unfortunately, we couldn't stop at just one slice. As a local real estate company it's part of our job to help keep you informed on the topics that matter to you most, that's why we are bringing to you 9 of the best pizza places in Raleigh There is an abundance of Pizza Restaurants in Raleigh that serve mouthwatering pies that can appease preferences of any kind Stick with us while we take you o

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Appraisals 101

Midtown Appraisal Group

What you should know about the appraisal process We know that whether you’re a buyer or a seller, the appraisal process – especially for residential or agricultural properties – can be nerve-wracking. Here are answers to some of the questions we get asked most often. Why do I need an appraisal? Contrary to popular belief, […].

Appraisal 153
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Mortgage rates reach highest level since 2018

Housing Wire

Mortgage rates keep climbing amid rising inflation , war in Ukraine, and disruptions to the supply chain, and there’s no sign that they’ll fall anytime soon. The latest weekly Freddie Mac PMMS mortgage survey, released Thursday, showed that the average purchase mortgage rate touched 4.67%, up 25 basis points from the week prior. That was the highest reading since December 2018, according to Freddie Mac.

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Taxing flippers 25% in California??

Sacramento Appraisal Blog

There’s a new bill in California called AB 1771 that proposes a 25% tax on the profit of home flippers. This is worth talking about because laws can affect the housing market. This is NOT a political post, but I want to talk about some of the issues involved and offer perspective based on stats […].

Law 422
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Brian Miller: Shift to Remote Work Has ‘Tipped the Scales Toward Employees’

Appraisal Buzz

PERSON OF THE WEEK: The shift to a purchase market, lenders’ re-expansion into niche products such as non-QM, and the reality of remote work and its impact on retention are among the topics covered by Brian Miller, senior vice president, talent acquisition for Planet Home Lending , in a recent interview with MortgageOrb. Q: What’s going on in the mortgage banking recruiting market right now?

Lending 395
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Increasing Open Jobs in Construction

Eyes on Housing

The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs increased for the month to 380,000 unfilled positions in January. The highest measure in the history of the data series (going back to late 2000) was 416,000 in April 2019. The housing market remains underbuilt and requires.

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NAR Report Paints a Different Picture

Appraiserblogs

The study also shows the appraisal was the LOWEST scored item on the list of discriminatory practices… On February 23, 2022, NAR published the “2022 Snapshot of Race and Home Buying in America” report. The study examines homeownership trends and challenges by race and location to explain current racial disparities in the housing market. Using data from the 2021 Profile of Home Buyers and Sellers, the report looks at the characteristics of who purchases homes, why they purchase, what they purchas

Valuation 151
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#1 Factor Zillow Estimates Get The Most Wrong (Why We Need Appraisers)

JMV Lending

I lived in the same neighborhood for over 20 years and did hundreds of loans within the area – so I knew every nuance of the area. As a former appraiser and armed with my extensive neighborhood knowledge, I was often shocked by how wrong Zillow’s estimates were. Here are some of the things Zillow […]. The post #1 Factor Zillow Estimates Get The Most Wrong (Why We Need Appraisers) appeared first on JVM Lending.

Appraisal 148
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Homebuyers are really beginning to feel the squeeze

Housing Wire

The one-two punch of higher mortgage rates and escalating home prices reduced homebuyers ’ ability to buy homes in February. The trend is also likely to worsen in the coming months. The national median monthly mortgage payment settled in loan applications increased 8.3%, from $1,526 in January to $1,653 in February, according to a survey published Thursday by the Mortgage Bankers Association.

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Predicting housing price cycles isn’t so easy

Sacramento Appraisal Blog

Does the housing market really have price cycles? Yes. But these cycles aren’t always so rigid and perfectly predictable like so many people think they are. Let’s talk about this today. I’d love to hear your take also. UPCOMING PUBLIC SPEAKING GIGS: 3/15/2022 NARPM Luncheon (details) 3/22/2022 SAFE Credit Union market update (details) 4/28/2022 SAR […].

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U.S. Home Prices Were Up Nearly 20 Percent Year-Over-Year in January 

Appraisal Buzz

Driven by strong demand and limited inventory, U.S. home prices increased 1.6% on an adjusted basis in January and were up 19.2% compared with January 2021, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The index’s 10-city and 20-city composites, measuring home price growth in the 20 largest U.S. metros, both posted month-over-month increases of 1.8%.

Inventory 370
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Building Materials Prices Increase Slightly, Held in Check by Metal, Gypsum, and Concrete Products

Eyes on Housing

The prices of goods used in residential construction ex-energy climbed 1.6% in February (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials prices increased 20.4%, year-over-year, and have risen 31.3% since January 2020. Over the past five months, the index has climbed 10.6%.

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Win New Business With Digital & Online Application Forms

GoForrmz

Join the digital transformation movement and reap the benefits of enhanced professionalism, elevated data collection, and significant time and cost savings From job applications to rental applications, application forms can be found across every industry. While paper-based forms must be manually completed and delivered, digital and online application forms can be accessed, completed, and processed anywhere, anytime – even while offline!

Business 148
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7 Things to Know BEFORE Moving to Wake Forest, NC

Raleigh Realty

Living in Wake Forest, NC Moving to Wake Forest? We have you covered with this guide below or click to check out the available homes for sale in Wake Forest as well as some of the town's best neighborhoods Wake Forest, NC - General Information Living in Wake Forest is wonderful. The town of Wake Forest, North Carolina is a northern Raleigh suburb with a location that allows easy access around the Triangle (Raleigh-Durham-Chapel Hill area).

Realtors 148
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Mortgage rates soar to 4.42% following rate hike

Housing Wire

The rollercoaster is still climbing. Mortgage rates are approaching 4.5%, a level economists forecasted would not be reached until the tail end of 2022. And there’s good reason to believe mortgage rates will be in the 5% range before too long. According to data from Freddie Mac ‘s PMMS survey, mortgage rates on the traditional 30-year fixed-rate mortgage jumped 26 basis points to 4.42% this week, with increases across all loan types.

Mortgage 457
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Freakish home price growth so far in 2022

Sacramento Appraisal Blog

Freakish price growth? Yes. That’s exactly what we’ve been seeing. Here we are again with what feels like a carbon copy of last year, which was our most aggressive market ever. In short, 2022 is doing its best to crush 2021. Let’s talk stats and perspective. I’d love to hear your take. UPCOMING PUBLIC SPEAKING […].

Marketing 404
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New Desktop Appraisal Policy with Freddie Mac

Appraisal Buzz

Today’s Buzzcast interview is with Scott Reuter, Chief Appraiser of Freddie Mac. We sat down with Scott and Joan Trice, Founder of Allterra Group, LLC to discuss the new Desktop appraisal policies and what that means for the industry. What is new in policy when it comes to desktop appraisals? What does this mean for the appraisal industry? How do these policies impact the individual appraiser?

Appraisal 370
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Steady Number of Open Construction Jobs

Eyes on Housing

The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs remained steady at 381,000 unfilled positions in February. The highest measure in the history of the data series (going back to late 2000) was 416,000 in April 2019.

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GoFormz Cares: Supporting The American Heart Association’s Hard Hats With Heart

GoForrmz

GoFormz Cares: GoFormz partners with the American Heart Association in support of their Hard Hats With Heart initiative We are proud to announce that GoFormz will be sponsoring the American Heart Association’s event, Hard Hats with Heart, taking place in San Jose, CA on April 21, 2022. The American Heart Association strives tirelessly to create a world filled with longer, healthier lives specifically through their Hard Hats with Heart event that is geared towards the construction industry and th

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2022 Commercial Real Estate Trends: What’s Hot, What’s Not, and What to Watch

The Robert Weiler Company

Sometimes it seems as if crystal ball predictions are as much a Q1 tradition as an end-of-year seasonal cheer. While it’s true that writing an outlook on the year ahead has become part of the ritual for many companies, such outlooks are, in fact, valuable. It is especially true if said previews are based in reality and not on the wish lists of what executives would like to see.

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Welcome to Walmart. Here’s your mortgage

Housing Wire

Lenders One Cooperative announced on Monday that it has struck a deal to lease retail space in Walmart stores to sell mortgage products and services. The cooperative inked a deal for space at three Walmart locations, but said there are “many more opportunities to come.” Lenders One will be selling purchase, refinance and home equity products at its “store-in-store” branch locations.

Retail 457
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10 Best Hiking Trails in Raleigh NC

Raleigh Realty

Best Hiking Trails Raleigh, NC Are you searching for the best hiking trails in Raleigh? We have you covered with 10 of the best below We are a local real estate company that loves bringing you local content all around the Triangle Whether you're searching for homes, restaurants, or neighborhoods we have you covered. Without further ado, let's dive into the 10 best hiking trails in Raleigh William B.

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Appraiser-Controlled Desktop and Remote Valuations

Appraisal Buzz

Now that the GSEs have approved desktop valuations for purchase, appraisers need a way to collect trustworthy, verifiable data while also submitting floor plans on reports! Join us for our upcoming webinar on March 22 nd at 2 pm, “ Appraiser-Controlled Desktop and Remote Valuations ” with Mark Walser and Lisa Ratzke! Learn about all of the features in RemoteVal – a free inspection app for appraisers.

Valuation 370
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January Private Residential Spending Up 1.3%

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.3% in January after an increase of 2.2% in December 2021. Spending stood at a seasonally adjusted annual rate of $829.4 billion. Total private residential construction spending was 13.4% higher than a year ago. These monthly gains are attributed to the strong growth of spending.

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5 Ways Digital Forms Simplifies Bookkeeping

GoForrmz

Transform your bookkeeping processes by switching to online forms Keeping records organized and up to date is critical for your business operations. With paper forms, your team is left scrambling over disorganized and messy documents. When companies switch to mobile forms for their data collection and storage, they can rely less on manual re-keying of data into systems like Microsoft Excel.

Tools 148