George Dell
MARCH 15, 2023
Market value, of course! Or is it? The great recession, and things like that, which come around every 12-15 years, all concur with the ‘accepted’ definition of market value, as written in the USPAP book Advisory Opinion 30. In short, the definition requires: Most probable price Competitive and open market Prudent and knowledgeable consumers No […] The post Market Value or Other Value?
Housing Wire
MARCH 16, 2023
A group of 11 U.S. banks has agreed to make $30 billion in deposits at First Republic Bank to avoid another regional bank failure. The rescue comes after Silvergate Bank , Silicon Valley Bank and Signature Bank collapsed amid a liquidity crisis caused by a deposit run. “Today, 11 banks announced $30 billion in deposits into First Republic Bank.
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Real Estate News
MARCH 15, 2023
With the value of its residential real estate surpassing $3.6 trillion, Florida edged out New York but trails California among markets with the top home values.
The Appraiser Coach
MARCH 14, 2023
I’ve talked about the importance of paying yourself first, and how living that principle will bless your life. Equally important, however, is its sister principle: pay 10% to charity second.
Sacramento Appraisal Blog
MARCH 14, 2023
I’ve got two things on my mind today. Price cycles and getting bid up during the first week. Well, and banks failing. And my 23rd wedding anniversary this week. And getting in shape. Anyway, let’s look at the first two things. UPCOMING (PUBLIC) SPEAKING GIGS: 3/24/23 How to Think Like an Appraiser (at SAR) 3/28/23 Downtown Regional […] The post Real estate price cycles & getting bid up first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Housing Wire
MARCH 15, 2023
Following a chorus of complaints from the mortgage industry, the Federal Housing Finance Agency (FHFA) on Wednesday announced that it would delay the implementation of a new and controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income ratios. The upfront pricing fee on DTI ratios of 40% or more – part of a larger series of changes to the Enterprises’ pricing grids – was slated to go into effect on May 1, 2023. “FHFA has decided to delay the effecti
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Eyes on Housing
MARCH 15, 2023
After four consecutive declines, the producer price index (PPI) for inputs to residential construction less energy (i.e., building materials) rose 0.3% in February 2023 (not seasonally adjusted) follow a 1.1% increase in January (revised), according to the latest PPI report. Price growth of goods inputs to residential construction, including energy, gained 0.4% over the month.
Inman
MARCH 17, 2023
The sudden change in the global banking landscape has left luxury real estate clients hanging out "in the parking lot," Kofi Nartey said, as they wait to see where the remaining chips will fall.
Housing Wire
MARCH 15, 2023
Fannie Mae announced on Wednesday that it has appointed Michael Seelig to its board of directors, where he will serve on the audit committee. Seelig’s mandate is to “help Fannie Mae fulfill its mission to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America,” according to a statement from the government-sponsored enterprise (GSE).
Real Estate News
MARCH 14, 2023
A new report from NAHREP found that Latinos formed more new households than any other demographic group in 2022 while also increasing their homeownership rate.
Eyes on Housing
MARCH 17, 2023
NAHB recently released its 2023 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that 96.5 million households are already not able to afford a median priced new home in 2023 due to the fact that their incomes are insufficient to qualify for the required mortgage under standard underwriting criteria.
Inman
MARCH 17, 2023
Beagel aims to be a deeply integrated software partner leading with an in-browser open offer solution that allows buyers to bid on homes and agents to manage the process
Housing Wire
MARCH 17, 2023
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks spilled red ink in the fourth quarter of 2022 amid a jump in mortgage rates. These companies reported a net loss of $2,812 on each loan originated from October to December, an increase of more than four times the average per-loan loss of $624 in the third quarter, according to the Mortgage Bankers Association (MBA). “For the third consecutive quarter, the average pre-tax net production income was in the red, rea
Real Estate News
MARCH 13, 2023
T3 Sixty’s ranking of the top brokerage companies includes Compass, Keller Williams, Anywhere and other repeat leaders — plus a few surprises.
Eyes on Housing
MARCH 14, 2023
Consumer prices in February saw the smallest year-over-year gain since September 2021 with an eighth consecutive month of a deceleration. However, the shelter index (housing inflation) continued to rise at an accelerated pace and was the largest contributor to the total increase, accounting for over 70% of the increase. Shelter inflation is a lagging indicator and will primarily be cooled.
Inman
MARCH 13, 2023
Transaction sides fell 18.2 percent year over year for a total of $472.9 billion in sales in 2022, a 12.5 percent decline, according to a full-year earnings report released Monday afternoon by the Texas-based brokerage.
Housing Wire
MARCH 16, 2023
After increasing steadily for over a month, mortgage rates fell last week following a deposit run that provoked a liquidity crisis in regional U.S. financial institutions — and resulted in the failures of Silicon Valley Bank and Signature Bank. But what is there to expect ahead for the housing market? Industry observers said that, at least in the short term, mortgage rate declines will support home prices but lead to a better outlook for the spring season.
Real Estate News
MARCH 11, 2023
The Agency adds third Toronto office, Realty ONE opens in Cyprus and Caymans, Christie's expands to St. Croix, Great Life joins Real, Mainframe RE touts tech.
GoForrmz
MARCH 14, 2023
Watch the on-demand webinar recap Over the past few years, businesses have been forced to change how they communicate and collaborate with clients, vendors, and employees. But due to outdated, pen-and-paper-based processes, many businesses still struggle with collecting real-time, error-free documents. How can you create an efficient process of capturing data for all parts of your business?
Inman
MARCH 16, 2023
Coldwell Banker agents subjected prospective homebuyers of color to different requirements than white homebuyers, according to the Office of the New York State Attorney General.
Housing Wire
MARCH 16, 2023
The Federal Housing Finance Agency ’s (FHFA’s) decision to delay implementing the controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios gave mortgage lenders a breather. The agency postponed the implementation of the fee to August 1, and it also said lenders will not be subject to post-purchase price adjustments on any loans acquired Fannie Mae and Freddie Mac this year.
Real Estate News
MARCH 16, 2023
Ryan Schneider, leader of one of the largest real estate enterprises, believes the company will benefit from continued investments, even in a downturn.
Appraiserblogs
MARCH 15, 2023
Garbage data in means garbage results out every time! It’s no secret that AVMs have been a thorn in the side of real estate appraisers since they first came out. Despite all their bells and whistles, these automated valuation models still rely on inaccurate public records and often come up with wildly inaccurate home values. Unfortunately, some consumers don’t realize this until it’s too late – when reality comes crashing down from a local real estate professional after they’ve already gotten t
Inman
MARCH 15, 2023
Coldwell Banker Chief Operating Officer Liz Gehringer told Inman a diversity push is helping grow the company even in a slower market. She also touted the return of international buyers as the pandemic winds down.
Housing Wire
MARCH 14, 2023
On Tuesday, we got more confirmation that the Federal Reserve ‘s biggest fear — inflation blowing up to 1970s levels — isn’t happening, according to the CPI data. Even with its most significant component, shelter inflation, keeping core CPI higher than it should be, it’s been hard to accelerate the core data. However, with the current banking stress news and the emergency action taken by the Fed to secure the banking sector, the question now is what will drive mortgage rates : infla
Real Estate News
MARCH 14, 2023
Bank failures may lead the Fed to tap the brakes on raising interest rates, which means now is a good time for homebuyers to keep calm and make their move.
Appraiserblogs
MARCH 13, 2023
Her Google & Yelp business pages have received a slew of negative reviews from people living as far away as New Zealand! As real estate appraisers, we understand the importance of accuracy and fairness in our work. We are expected to perform valuation services competently and in a manner that is independent, impartial and objective. We also know how important it is to uphold ethical standards in order to protect ourselves and our clients from potential legal action.
Inman
MARCH 14, 2023
EXp Canada has appointed veteran real estate agents John Tsai, Nadia Habib and Nathalie Goodyer to three C-suite positions, according to the company. Tsai joined the brokerage in 2017.
Housing Wire
MARCH 13, 2023
The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). While the FDIC — an independent government agency that insures bank deposits and overseas financial institutions — declined to comment on Mayopoulos’ role, his career has been focused on financial and legal expertise.
Real Estate News
MARCH 15, 2023
A CoreLogic report found that average home equity rose more than 7% in 2022 — a small gain relative to the big jump seen in 2021, but still above average.
Appraiserblogs
MARCH 17, 2023
Who is going to organize raising the funds and hiring the lobbyist? We are woefully behind the curve here. Myself and many others were organized in the early 1990s and managed to protect the appraisers’ interests for the most part at that time. Here in 2023, there does not appear to be any meaningful response other than the same old anecdotal war stories we pass along among ourselves.
Inman
MARCH 13, 2023
Our successful owners routinely gather to share winning business strategies, discuss joint business ventures, and help make each other even stronger, displaying an unbeatable combination of know-how and camaraderie.
Housing Wire
MARCH 14, 2023
Ravi Patel, a top loan officer and former senior vice president of mortgage lending at Guaranteed Rate , and his team, have moved to UMortgage, according to a statement issued on Monday. “Winners in this industry want to join our platform because we’re identifying the acute pain points of loan originators of different backgrounds—whether that be a retail shop or their own brokerage—and providing value-based solutions,” UMortgage President and CEO Anthony Casa.
Real Estate News
MARCH 11, 2023
Agents are returning to tried-and-true ways of doing business, prioritizing relationships and embracing the tools and approaches that always worked.
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