Appraiserblogs
MARCH 9, 2023
No appraisal may be required in the future! Fannie Mae took a direct shot at appraisers with the announcement of changes in their Selling Guide. Two options for the future, both of which do great harm to the appraisal industry. First, “third party” inspections. Appraisal trainees aren’t good enough, so now we will have unlicensed inspectors going through the homes of unsuspecting homeowners.
Housing Wire
MARCH 6, 2023
The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. Here is a quick rundown of the last week: Purchase application data was down 6% weekly. Weekly inventory fell much more than the previous two weeks, down 11,021; new listing growth had its lowest weekly calendar print for this previous week.
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Sacramento Appraisal Blog
MARCH 9, 2023
It’s a bump. Do you feel it? The housing market has been waking up in 2023, and we’re starting to see an uptick in lots of different stats. Let’s talk about it. This post is designed to skim quickly or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 3/10/23 PCAR Market Update Lunch & Learn 3/24/23 How to Think Like […] The post A spring bump in the housing market first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
Real Estate News
MARCH 8, 2023
Lawsuits aren't just a risk for large, national firms. Brokerages of all sizes are exposed to legal and regulatory threats and need to be proactive.
George Dell
MARCH 8, 2023
Bias against minorities has been “proven” against property value message measurers – at least once. It has also been “proven” that the undervaluation is as much as $500, on average. Something must be done! Let’s blame the appraisers! They keep on “determining” values too low! Does the flurry of blame-placing help resolve the problem? But […] The post Can Appraisers Protect Minorities?
Housing Wire
MARCH 6, 2023
Illinois-based mortgage lender Celebrity Home Loans and its parent company Celebrity Financial, Inc. are the target of a class-action-seeking lawsuit. A former employee is suing the companies, alleging they “abruptly terminated hundreds of its employees” without giving legally required 60-day advance notice as required by the Worker Adjustment and Retraining Notification Act ( WARN Act ).
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Real Estate News
MARCH 6, 2023
Howard Hanna merges with Coach, BHHS enters the Caymans, Sotheby's Realty expands in Finger Lakes, BIRCH joins Side, new owners at Seattle RE/MAX, E&V in Ohio.
Eyes on Housing
MARCH 6, 2023
Residential remodeling companies, just like any other private enterprise in a capitalist economy, exist to satisfy the demand of consumers for specific products or services in exchange for a rate of profit commensurate with the risk taken. Companies control when they enter or exit the industry, but their financial performance is intrinsically linked to external factors, such as the number.
Housing Wire
MARCH 9, 2023
The title insurance industry is often bemoaned for being antiquated and making minimal changes, but that has not been the case for the past 12 months. Nearly a year after announcing that it would begin accepting attorney opinion letters (AOLs) in lieu of title insurance in limited circumstances, Fannie Mae is yet again making waves in the title insurance industry.
Inman
MARCH 9, 2023
In this shifting market, agents will have to do more to achieve the same results they were getting before, writes Adam Hergenrother. Here, he breaks down Gary Keller’s formula for doing more and how you can take action to do more and achieve more this year.
Real Estate News
MARCH 10, 2023
For most of its 50 years, Corcoran was a regional player. But in 2020, its affiliate network took off, and “it’s just the beginning of the story.
Eyes on Housing
MARCH 9, 2023
The NAHB recently published its latest Cost of Construction Survey. Results show that 60.8% of the average home sale price consisted of construction costs, essentially unchanged from the 61.1% posted in 2019. Since the inception of this series in 1998, this was the fourth time construction costs represent over 60% of the total price of the home (2013: 61.
Housing Wire
MARCH 6, 2023
Guaranty Home Mortgage Corporation (GHMC) on Monday announced its expansion with three new licensed retail branches in Tennessee. The new branches are located in Brentwood, Lebanon and Chattanooga. GHMC originates and purchases loans through multiple channels. The expansion is part of the company’s strategy to grow its presence and focus on residential mortgage lending.
Inman
MARCH 9, 2023
Focus on creating high-quality pieces that resonate with your target audience and meet their evolving needs. With the right approach, you can stay ahead of the curve in the age of AI-powered search engines.
Real Estate News
MARCH 7, 2023
Many agents brand themselves as experts. If you've done the work to earn that title, how do you stand out and get noticed?
Eyes on Housing
MARCH 8, 2023
Per the Mortgage Bankers Association’s (MBA) survey through the week ending March 3rd, total mortgage activity increased 7.4% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose eight basis points to 6.79%. The FRM rate has risen 61 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose.
Housing Wire
MARCH 6, 2023
Growing supply shortages are holding housing prices higher, and affordability constraints coupled with elevated rates lock potential sellers in place. Home prices fell in January, pulling back by 0.24% from December to mark the smallest monthly decline in seven months, according to Black Knight ‘s mortgage monitor report. The annual home price growth rate fell to 3.43% in January, more than a full percentage point below the 30-year average.
Inman
MARCH 6, 2023
The share of $1 million homes in the U.S. dropped from a high of 8.6 percent in June 2022 to approximately 7 percent in January, due in part to higher mortgage rates that have cut into homebuyer purchasing power.
Real Estate News
MARCH 4, 2023
The commissions are lower, but so is the effort. Representing a client in an iBuyer transaction takes less time and can supplement an agent's business.
Eyes on Housing
MARCH 10, 2023
The most recent release of the Z.1 Financial Accounts of the United States shows a decrease in the value of households’ real estate assets over the fourth quarter of 2022. As home prices begin to decrease from pandemic highs, households’ real estate asset value fell for the first time since the first quarter of 2012. The level of households’ real.
Housing Wire
MARCH 6, 2023
Home Point Capital , the parent company of wholesale lender Homepoint , is seeking a successor to take over Mark Elbaum’s chief financial officer position. On February 24, Elbaum submitted his resignation as CFO, according to a March 1 8-K filing from the company. Elbaum’s resignation will be effective April 3 and he will continue to serve as CFO until that date to assist with Home Point Capital’s 10-K filing for 2022, the filing said.
Inman
MARCH 7, 2023
Inman's inaugural Influencer ran from real estate as a kid because it was all her family talked about. But with four TV shows, a podcast and a team under her belt, she lives and breathes it in 2023.
Real Estate News
MARCH 8, 2023
Housing completions went up in 2021, but builders tapped the brakes in 2022. At the same time, more households formed, leading to an ongoing shortage.
Appraiserblogs
MARCH 7, 2023
It’s unfortunate that this case was SETTLED in the way it was, because in reality, nothing about racial discrimination and disparate treatment was actually proven at a full trial… The first case that’s been adjudicated claiming appraiser discrimination has been SETTLED by the defendant appraiser and the plaintiffs, with the judge “dismissing all claims with prejudice”, meaning it cannot be re-opened by the plaintiffs, but it can be appealed to a higher court by the defendant.
Housing Wire
MARCH 10, 2023
What a week this has been for the housing market , from the fireworks of Fed Chair Jay Powell’s Congressional testimony to an attempt to break over a critical line on the 10-year yield. Then Friday we got solid jobs and labor force growth data and the surprising failure of Silicon Valley Bank. Let’s look at each of these, one at a time. Fed Chair talk First, Federal Reserve Chairman Jerome Powell did not have his best week as he looked unsure of himself, like most Fed members have recently
Inman
MARCH 9, 2023
Growth is great, but a business is only as strong as its foundation. As you scale up, continue to prioritize the things that matter most — your clients, your team and your brand.
Real Estate News
MARCH 10, 2023
Listing Media Services in 6 new markets, MoxiWorks partners with Milestones, Revive partners with NextHome, CubiCasa adds MLS partners, Mosaik launches.
Appraiserblogs
MARCH 8, 2023
Appraisers, something – comparing and contrasting – dawned on me last week, after reading another news release titled “Dean Kelker: Appraisal Modernization is Starting to Gain Momentum“, which is basically pushing an “Enterprise” singular ‘agenda’ of valuation speed regardless of accuracy. Under the banner of “modernization.” VA does not demand appraisers complete assigned appraisal assignments extraordinarily quickly.
Housing Wire
MARCH 10, 2023
Fannie Mae has approved six firms to handle its new valuation initiative, which cuts traditional appraisers out of the process and potentially represents the biggest shift in the valuation space in years. Fannie Mae last Wednesday updated its Selling Guide to include more options for property valuations, saying that the GSE is “moving away from implying that an appraisal is a default requirement.
Inman
MARCH 6, 2023
Bedrooms that promise great comfort and sanctuary can generate a visceral response. Well-designed bedrooms can inspire a heartfelt reaction that buyers won’t be able to ignore.
Real Estate News
MARCH 10, 2023
The luxury brand reported steep quarterly and full-year losses, but said annual transaction volume outperformed the industry.
Realtor
MARCH 7, 2023
Vecteezy While most homebuyers know that they’ll need to meet certain requirements to get a home loan, in some cases the house must pass certain standards, too. This is definitely the case if you’re considering a USDA loan from the Department of Agriculture. USDA loans can be a boon to homebuyers due to their fairly lenient qualifications for homebuyers’ incomes and credit scores.
Housing Wire
MARCH 9, 2023
Federal Reserve Chairman Jerome Powell sent a clear message during his U.S. Senate speech on Tuesday morning: Fed officials are likely to deliver higher rate hikes than previously expected to combat persistent inflation. “As I mentioned, the latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Powell said. “If the totality of the data were to indicate that faster
Inman
MARCH 9, 2023
Jennifer Wauhob, who leads a 7-agent team for Better Homes and Gardens Real Estate Gary Greene in Houston, will take up the role of VP of association affairs following the death of Margo Wheeler earlier this year.
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