Sacramento Appraisal Blog

MAY 9, 2023

The housing market went from an ice bath to a bloodbath. That’s a good way to describe it as the contrast between the dull fall season and the spring has been striking. In today’s post I want to highlight national vs local stats, a dead cat bounce, and dive deeply into local trends. I hope […] The post The housing market went from an ice bath to a bloodbath first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Housing Market Marketing Real Estate Appraisal 295

Housing Wire

MAY 10, 2023

The massive inflation and double-digit mortgage rates of the 1970s and early 1980s seem to haunt the Federal Reserve , which wants to cool the economy and even provoke a job-loss recession to avoid that scenario. But the latest Consumer Price Index inflation report shows how the fear of 1970s-style inflation is wildly overblown. Today’s numbers don’t look like the 1970s at all, when rent, wages, and oil shocks sent inflation running hotter than anything we have seen in recent modern-day hi

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Real Estate News

MAY 11, 2023

President and CEO Nick Bailey — a 30-year industry veteran — takes a long-term perspective on real estate, and he already sees positive shifts.

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The Appraiser Coach

MAY 9, 2023

Averages rule the universe. You may be more familiar with this statement as the law of averages. Let me give you an example as a.

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Inman

MAY 10, 2023

Agents should be prepared to answer their buyer's mortgage questions, including types of mortgages, lender guidelines, preapproval vs. prequalification and the closing process in the area.

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Buyers Mortgage Agents Lending 195

Housing Wire

MAY 7, 2023

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. Hopefully, this is just a blip, which can occur from time to time with weekly data. We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell.

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Eyes on Housing

MAY 10, 2023

Consumer prices in April saw the smallest year-over-year gain since April 2021. This marked the tenth consecutive month of deceleration and the first time the rate has fallen below 5% in two years. While the shelter index (housing inflation) experienced its smallest monthly gain since January 2022, it continued to be the largest contributor to the total increase, accounting for.

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Inventory 187

Inman

MAY 8, 2023

It can be hard to know which type of photographer will show up at your property. Here are some best practices to ensure your listing (and your client) are set up for success.

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Housing Wire

MAY 10, 2023

Payroll connectivity platform Argyle announced this week that it has grown the number of its consumer verifications 100% year over year and has welcomed over 35 new customers so far in 2023. The company offers direct-source data portability tools for mortgage, lending, banking, background and tenant screening, and other use cases. “We’ve packaged five years of learning and innovation into our next-gen platform to continue automating critical workflows, reducing business risk, and pro

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Real Estate News

MAY 11, 2023

The Real Brokerage more than doubled its agent count vs. last year, with chairman and CEO Tamir Poleg crediting its technology and “agent attraction model.

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Brokerage Agents Technology 264

George Dell

MAY 10, 2023

Personal change is difficult. I like my old comfy chair. A new chair must be broken in. Uncomfortable! But the new chair does stuff. New stuff. It has automatic, adjustable features. It has memory foam, a heating pad, and hot and cold cup holders. And a remote control with 27 buttons which can control room […] The post Resistance to Change?

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Appraisal 150

Eyes on Housing

MAY 10, 2023

Per the Mortgage Bankers Association’s (MBA) survey through the week ending May 5th, total mortgage activity increased 6.3% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell two basis points to 6.48%. The FRM rate has risen 18 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose.

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Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. Freddie Mac’s BorrowSmart Access program will be available to NewRez borrowers through Caliber Home Loans ‘ national network of branches.

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Real Estate News

MAY 6, 2023

Corcoran expands in NJ; RE/MAX snags SoCal firm; Real opens in Manitoba; C21 grows in Green Bay; AZ indie joins KW; The Agency opens in Boise; eXp woos teams.

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Brokerage 258

Inman

MAY 11, 2023

The National Association of Realtors voted Thursday to tie annual membership dues to the Consumer Price Index. Its board separately voted to increase annual dues by 4 percent to $156 next year.

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Realtors 170

Eyes on Housing

MAY 11, 2023

According to the latest Producer Price Index report, the prices of inputs to residential construction less energy (i.e., building materials) decreased 0.2% in April 2023 (not seasonally adjusted). The index has gained 0.5%, year-to-date, which is the smallest April YTD increase since it climbed 0.3% over the first four months of 2020. The PPI for goods inputs to residential construction, including.

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Construction 179

Housing Wire

MAY 11, 2023

This week’s mortgage rates declined slightly, continuing a recent “sideways trend” at the low 6% mark. Rates reflected a moderation in inflation and the banking crisis, and the consequent expectation that the Federal Reserve ( Fed ) is done hiking the federal funds rate. Per Freddie Mac ‘s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.35% as of May 11, down four basis points from last week’s 6.39%.

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Real Estate News

MAY 9, 2023

With the rollout underway for its end-to-end transaction platform, and agent count up, Compass projects that it will be cash-flow positive next quarter.

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Agents 262

Inman

MAY 11, 2023

Rather than focusing on numbers and statistics, data storytelling allows you to translate numbers into insights that are more easily understood and can be integrated into better decision-making.

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Eyes on Housing

MAY 9, 2023

According to the latest May 2022 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $54,540 and the top 25% make at least $77,030. In comparison, the U.S. median wage is $46,310, while the top quartile (top 25%) makes at.

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Construction 178

Housing Wire

MAY 10, 2023

Dallas, Texas-based Mr. Cooper Group has entered into an agreement to acquire struggling Home Point Capital for $324 million in cash, the companies announced on Wednesday. The transaction will ultimately result in the seller shutting down operations. Rumors that Mr. Cooper was interested in Ann Arbor, Michigan-based Home Point spread prior to the latter selling its wholesale origination business to The Loan Store on April 7 and were amplified after.

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Real Estate News

MAY 8, 2023

If approved Thursday, NAR’s proposal would increase dues based on the inflation rate. This would increase 2024 dues to $156 (from $150).

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Inman

MAY 10, 2023

Overspending is a significant challenge that almost every real estate agent has to face. However, with the right strategies and practices in place, you can rein in your spending and significantly grow your profits.

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Real Estate Agent Real Estate Agents Marketing 170

Eyes on Housing

MAY 12, 2023

According to the Federal Reserve Board’s April 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the first quarter of 2023—banks reported that lending standards tightened for most residential real estate (RRE) and commercial real estate (CRE) loan categories. Demand for RRE and CRE loans weakened across all categories over the quarter.

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Lending Real Estate Loan Officers Construction 177

Housing Wire

MAY 8, 2023

With mortgage rates still in the mid 6% range, borrowers who received mortgages in April 2023 paid an average of $2,343 a month, up 28% from a year prior. That’s according to the latest origination data from mortgage tech firm Candor Technology. Per data from Candor’s underwriting engine, the average buyer in April 2023 received a loan worth about $366,000 at an average APR of 6.5%.

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Mortgage Buyers Finance Technology 397

Real Estate News

MAY 10, 2023

The fees, which were scheduled to go into effect on Aug. 1, were opposed by industry groups including NAR and the Mortgage Bankers Association.

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Mortgage 257

Inman

MAY 10, 2023

Preparing your first real estate agent business plan takes time, effort and research. Thankfully, it doesn’t have to be long or complicated, just specific enough to outline what you want to accomplish. A well-prepared business plan will help you set a clear direction, stay focused and increase your chances of success.

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Real Estate Agent Real Estate Business Agents 170

Eyes on Housing

MAY 9, 2023

The NAHB’s Remodeling Market Index (RMI) survey has asked questions about Aging-in-Place (AIP) periodically, beginning in 2004. According to results from the Q1 2023 survey, 63 percent of professional remodelers undertake projects designed to allow homeowners to Age-in-Place, down from 77 percent in Q4 2018. This is the lowest percentage since the Q2 2006 survey (60 percent).

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Design Marketing 171

Housing Wire

MAY 9, 2023

California-based lender loanDepot was in the red again in the first quarter of 2023. However, margins and revenues improved in the period, according to documents filed with the Securities and Exchange Commission on Tuesday. The lender recorded a loss of $60.2 million in non-GAAP adjusted net income from January to March, compared to a negative $110.7 million in the previous quarter.

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Investors Housing Market Mortgage Marketing 395

Real Estate News

MAY 9, 2023

Is it possible to create an end-to-end buying and selling solution? Should we give iBuying a second look? Tech leaders discuss these questions and more.

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Inman

MAY 10, 2023

A "drought" of new listings is driving up prices, reversing the sluggishness of late 2022 and forcing buyers to compete fiercely for homes, according to a new analysis from Zillow.

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Buyers Inventory New Listings Marketing 164

GoForrmz

MAY 8, 2023

Digital forms for your small business In today’s tech space, small businesses are going digital, and it’s clear why. This mass digital transformation kicked off in 2020. Covid lockdowns had forced businesses and customers across the globe to go online. More small businesses than ever were going digital to survive. Mike Katz, executive Vice President of T-Mobile for Business wrote , “Before Covid-19, one small business in three had never made a digital sale.

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Business Legal Design Tenants 148

Housing Wire

MAY 12, 2023

Home Point Capital reported another quarterly loss on Friday morning, just two days after announcing that it is being sold to Mr. Cooper Group for $324 million in cash. The transaction will result in the company shutting down in the coming months. In the first quarter, Home Point’s origination and servicing businesses were in the red amid declining production volumes and a negative change in the fair value of its mortgage servicing rights (MSR).

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Buyers Inventory Business Mortgage 384

Real Estate News

MAY 11, 2023

Interest rates dipped slightly to 6.35% this week, and mortgage applications were up — but limited inventory is keeping the market “subdued.

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Mortgage Inventory Marketing 257