Trending Articles

article thumbnail

Borrowers opt for permanent rate buydowns amid affordability challenges

Housing Wire

Home prices growth and mortgage rates have come down from the peaks in 2022, but affordability still remains a challenge. In turn, borrowers who are entering the market are leaning heavily toward buying down their first lien interest rates by paying points up front.

Inventory 227
article thumbnail

A New Year Starts with Strong Gains

Eyes on Housing

Job growth rebounded in January. After declines for five consecutive months, total nonfarm payroll employment increased by 517,000 in the first month of 2023 and the unemployment rate hit a 53-year low at 3.4% as more people entered the labor market.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rate buydowns are the cat’s meow in today’s market

Housing Wire

High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market.

article thumbnail

Market Target?

George Dell

Market, the word, is used over 2500 times in The Appraisal of Real Estate. And over 650 times in the current (2021-2024) version of USPAP. Market” must matter! But what is it? Market” has two main meanings which correspond to the definitions in The Dictionary of Real Estate Appraisal.

Marketing 195
article thumbnail

Supporting Your International VA’s

The Appraiser Coach

Do you have a virtual assistant hired? Many appraisers have found this to be a great way to get needed tasks accomplished without having to do them yourself. You may.

Appraisal 150
article thumbnail

Fewer Prospective Buyers Are Fully Engaged in Purchase Process

Eyes on Housing

Dwindling housing affordability in the fourth quarter of 2022 caused the share of prospective home buyers who are actively engaged in the purchase process (i.e. who have moved beyond just the planning phase) to drop to 46%, down from 59% a quarter earlier.

Buyers 141

More Trending

article thumbnail

UWM rolls out construction-to-permanent loans

Housing Wire

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete.

article thumbnail

Meet your mentor: A step-by-step for finding a real estate role model

Inman

Whether you’re looking to start strong or take your existing business to the next level, a mentor can be key. Learn how to find the expertise and experience you need in a real estate mentor.

article thumbnail

CEO discusses appraisal modernization, other tech matters

Valuation Review

#appraisalmodernization #OPTEON #advancedalternativemethods #appraisers

article thumbnail

Square Footage Costs Higher in Suburbs than Cities

Empire Appraisal Group

article thumbnail

Hawkish Fed couldn’t curb market optimism — and mortgage rates tumbled 

Housing Wire

The Federal Reserve Chairman Jerome Powell maintained a hawkish tone during his speech at a press conference on Wednesday afternoon — but it wasn’t hawkish enough to keep optimism from spreading across the markets as mortgage rates dropped closer to 6%.

Mortgage 335
article thumbnail

SERHANT. says goodbye to top broker Tamir Shemesh

Inman

The motivation for Shemesh's termination was not immediately known and came just over one year after Shemesh and his four-person team moved to SERHANT. from Douglas Elliman.

article thumbnail

Final thoughts from the AI president

Valuation Review

#2023appraisalinstitutepresident #craigsteinley #moreappraisertopics

article thumbnail

Unaffordable Prices Are Back on Top as Most Common Reason Buyers Can’t Make Purchase

Eyes on Housing

An earlier post revealed that 65% of buyers who were actively engaged in the process of finding a home in the fourth quarter of 2022 have spent 3+ months searching for a home without success.

Buyers 120
article thumbnail

Gross Living Area Discrepancies with Public Data May Differ and How They Occur

Boston Appraisal

Appraisers are often tasked with providing valuations for properties that can be very different from one another. From one house to the next, things can and often do change. Everything from the number of bedrooms to the quality of the construction.

article thumbnail

The mortgage servicing experts at Sagent are building the future of fintech

Housing Wire

Building the future of mortgage servicing technology is about granular, nuanced innovation — knowing what changes must happen and when, and executing with no mistakes across scale operations where every tiny detail is highly regulated.

article thumbnail

Listing inventory drying up? 7 FAQs for hosting a budget-friendly homeseller seminar

Inman

Hosting a budget-friendly real estate seminar doesn't have to be overwhelming or expensive — all it takes is a bit of creativity and planning ahead of time so you can make sure everything runs smoothly on the day of the event itself.

Inventory 137
article thumbnail

Fastapp AMC Alleged Violations of AIR

Appraisers Blog

The following court documents in the case Naftali Horowitz v. Nicole Andrews, Fastapp AMC founder v.

article thumbnail

Further Downshift for the Fed

Eyes on Housing

Further downshifting its pace of tightening of monetary policy, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 25 basis points, increasing that target to an upper bound of 4.75%.

119
119
article thumbnail

Veteran appraiser offers business advice

Valuation Review

#DustinHarris #TheAppraiserCoach #businessstructure #appraiseradvice

article thumbnail

FHA announces new changes to loss mitigation waterfall 

Housing Wire

The Federal Housing Administration (FHA) announced on Monday changes to its loss mitigation options for borrowers struggling to pay their mortgages. The announcement follows the Biden administration’s decision to set an end date for the COVID-19 pandemic national emergency declaration.

Legal 341
article thumbnail

US home prices slip for fifth month as market bottom comes into view

Inman

The Case-Schiller index posted a 7.7 percent annual gain in home prices — down from a 9.2 percent gain in October — while the FHFA index showed a 0.1 percent decline in prices between October and November.

Marketing 137
article thumbnail

Top 10 Things Appraisers Wish Real Estate Agents Understood

McKissock

As part of our Question of the Month survey series, we asked members of our appraisal community, “What’s one thing you wish real estate agents knew about the appraisal process?” Thank you to the large number of appraisers who shared their input!

article thumbnail

December Private Residential Spending Dips

Eyes on Housing

Private residential construction spending declined 0.3% in December 2022, as spending on single-family construction dropped 2.3% amid higher mortgage rates. Private residential construction spending fell for the seventh consecutive month, standing at an annual pace of $857 billion.

article thumbnail

A conversation with Craig Steinley, 2023 AI president

Valuation Review

#ValuationReview #exclusiveinterview #appraisalinstitute #president #industrygoals

article thumbnail

First Internet Bank is shuttering its consumer mortgage business

Housing Wire

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years.

Business 340
article thumbnail

Master the art of cold calling with these 8 can’t-miss strategies

Inman

Cold calling can be an intimidating prospect for many real estate agents, but it doesn’t have to be, writes renowned trainer Darryl Davis.

article thumbnail

How GoFormz Can Promote Productivity in the Energy Sector

GoForrmz

Energy sector productivity improvements with GoFormz digital forms The energy sector is no stranger to challenges, especially over the last two decades.

article thumbnail

Fourth Quarter of 2022 Homeownership Rate at 65.9%

Eyes on Housing

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.9% in the last quarter of 2022, which is statistically unchanged from the fourth quarter reading (66%). It is 0.4 percentage points higher than the rate in the fourth quarter of 2021.

115
115
article thumbnail

Fannie Mae picks five groups for $5M innovation challenge

Valuation Review

#FannieMae #deliverablebasedcontracts #SustainableCommunitiesInnovationsChallenge

article thumbnail

Home price growth continued to soften in November

Housing Wire

Yearly home price growth continued to cool in November as mortgage rates reached some of their highest levels in decades, which resulted in annual home price gains shrinking for the eight consecutive month, according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday.

Contracts 334
article thumbnail

Rogers Healy pulls from Compass to hire first director of operations

Inman

The independent brokerage has hired Diyanna Ahuja to lead its team of more than 500 agents, who brings 2 decades of experience in luxury retail operations and real estate to the role. Brokerage Select dallas texas Diyanna Ahuja Rogers Healy rogers Healy and Associates

Retail 131
article thumbnail

Why You Should Use a Real Estate Attorney to Sell Your Home

Lamacchia Realty

WHY YOU SHOULD USE A REAL ESTATE ATTORNEY TO SELL YOUR HOME As a home seller you may think you are saving money by not hiring an attorney to guide you through the legal aspects of your sale but in actuality, it could end up costing you more not to!

Realty 60
article thumbnail

The Aging Housing Stock

Eyes on Housing

The median age of owner-occupied homes is 40 years, according to the latest data from the 2021 American Community Survey[1]. The U.S.