Housing Wire
SEPTEMBER 18, 2024
For those of us in the mortgage world, the spring and summer market may be showing some signs of slowing down, and what a ride this market has been. If the past few years have taught us anything, even the veterans must find ways to adapt, and anything can happen in our industry. You deserve a pat on the back if you are still standing because it has been a wild ride.
Appraisal Buzz
SEPTEMBER 18, 2024
In this episode, we welcome back Ernie Durbin, Chief Valuation Officer at Voxtur, and a frequent guest on the Appraisal Buzzcast. Ernie has just wrapped up a highly insightful 3-part series on the upcoming UAD changes, and he’s here to share some key takeaways for those who might have missed it. We dive into the potential impact of these updates on appraisers, the learning curve involved, and whether these changes could ultimately simplify your work.
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Housing Wire
SEPTEMBER 15, 2024
An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s review the data together. Purchase application data First, purchase apps is the fastest way to look for positive or negative data at higher or lower mortgage rates.
Sacramento Appraisal Blog
SEPTEMBER 11, 2024
Mortgage rates have gone down, but buyers aren’t that impressed yet. It seems like the real estate community is really excited about lower rates, but buyers aren’t sharing the enthusiasm so much (yet). Let’s talk about it and maybe kick around some language to describe today’s housing market. Skim by topic or digest slowly. UPCOMING […] The post Buyers aren’t impressed yet with lower rates first appeared on Sacramento Appraisal Blog.
George Dell
SEPTEMBER 18, 2024
Should appraisal practice go back to original historical principles? Yes! Is the appraisal “body of knowledge” now well established — and finally in place? We here have long campaigned for the profession to “get with it” and start teaching modern methods. Modern methods include artificial intelligence, data science, and critical thinking processes needed to supplement […] The post Appraisal Back to the Future?
Real Estate News
SEPTEMBER 15, 2024
In an effort to curb money laundering and other crimes, a federal agency has adopted rules for brokers and others involved in non-financed transactions.
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Appraisal Buzz
SEPTEMBER 13, 2024
Incenter Lender Services Chief Legal Counsel Kathleen Dutill Kathleen Dutill , an experienced mortgage industry attorney, has joined Incenter Lender Services as Chief Legal Counsel. Dutill, who was previously Associate Counsel with Cenlar FSB and managed litigation at Ocwen Financial Corporation and GMAC Mortgage, will advise Incenter and its member firms on legal and compliance issues.
Inman
SEPTEMBER 17, 2024
The new commission rules are confusing. Compliance expert Summer Goralik unpacks whether it’s possible to confirm if a seller is willing to compensate buyer’s agents.
Eyes on Housing
SEPTEMBER 11, 2024
In 2023, the majority of homes started featured laundry connections on the first floor (72%), according to the Census’s Survey of Construction. Laundry located on the second floor or higher was the second most prevalent at 26%. The basement, garage, and other locations all had a 1% or lower share. In NAHB’s What Home Buyer’s.
Real Estate News
SEPTEMBER 16, 2024
Using the “one-third” formula, the plaintiffs’ lawyers are asking for more than $225 million from the two commissions settlements, plus other expenses.
Appraisal Buzz
SEPTEMBER 16, 2024
Imagine completing your appraisals in less time, with twice the accuracy, and opening doors to new lucrative markets—that’s the power of AI in the appraisal industry. But are you truly ready to harness this transformative power, or will you be left behind as the industry evolves? Artificial intelligence is revolutionizing the appraisal industry, dramatically enhancing productivity, accuracy, and revenue streams.
Inman
SEPTEMBER 17, 2024
If you want to add to your safety and security toolbox, build value, protect your clients and stay safe in the field, check out these recommendations from Tracey “The Safety Lady” Hawkins.
Eyes on Housing
SEPTEMBER 16, 2024
Over the first seven months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 599,308. On a year-over-year (YoY) basis, this is an increase of 13.7% over the July 2023 level of 527,158. Year-to-date ending in July, single-family permits were up in all four regions. The range of permit increases spanned.
Real Estate News
SEPTEMBER 12, 2024
The downward trend hasn’t fired up buyers (yet), but predictions of more cuts this year could move rates closer to 5% and amp up the market next spring.
Housing Wire
SEPTEMBER 16, 2024
In 2024, the United States has already battled a year of extremes from tornadoes, hurricanes and flash flooding. Watery catastrophes have become far more and condo flooding is on the rise. September tends to be the most active month of the hurricane season. Of storms recorded in the Atlantic over time, over one-third have formed during September. The immense flooding that occurs during storm season can lead to evacuations and widespread power outages as we continue to feel the increasing severit
Appraisal Buzz
SEPTEMBER 11, 2024
A new report from RentCafe has ranked the nation’s best markets for rentals. The report found that the Midwest’s transformation to a leading area in tech and manufacturing is attracting budget—renters seeking affordability, amenities, and nature. This trend has propelled suburban Chicago to the top of the list of nation’s hottest rental markets, unseating the Miami region which long held its dominance atop the U.S. rental market.
Inman
SEPTEMBER 13, 2024
Investors who fund most mortgages have already priced in several rate cuts, so further declines could depend on what next week's "dot plot" says about expectations for the pace of future cuts.
Appraiserblogs
SEPTEMBER 18, 2024
Ultimately, the United Appraisers Network would represent a bold and progressive alternative to the Appraisal Institute… The recent firing of Cindy Chance, the CEO of the Appraisal Institute (AI), has ignited widespread outrage and a profound sense of distrust among appraisers nationwide. In the wake of this controversial decision, discussions have emerged on industry forums about the potential creation of a new appraisal organization that would better serve the needs and interests of all appra
Real Estate News
SEPTEMBER 13, 2024
The pre-sale renovation company, which got early support from NAR, also will change its marketing and be more transparent about its deals with agents.
Housing Wire
SEPTEMBER 11, 2024
On this crazy day with the bond market, mortgage rates dropped to another yearly low after the CPI inflation print. How low? Mortgage News Daily came out with a shocking print of 6.11% mortgage rates for their top-tier borrowers, while HousingWire’s Mortgage Rates Center , which tracks actual loan lock data from Polly , is also at a year-to-date low of 6.44%.
Appraisal Buzz
SEPTEMBER 13, 2024
On Friday, September 20, the Harvard Joint Center for Housing Studies will present a virtual session, “ Helping Middle-Income Renters: Trade-offs and Costs ,” at 11:15 a.m. Central Time. The Harvard Joint Center for Housing Studies strives to improve equitable access to decent, affordable homes in thriving communities. The Center conducts research to advance policy and practice, and brings together diverse stakeholders to spark new ideas for addressing the nation’s housing challenges.
Inman
SEPTEMBER 17, 2024
Whether it’s buyers trying to nickel and dime your sellers or sellers asking for a piece of your commission, trainer Bernice Ross writes, the key is to put your foot down and say no.
Appraiserblogs
SEPTEMBER 16, 2024
On September 13, 2024, the Appraisal Institute President, Sandra Adomatis, SRA, announced that Cindy Chance is no longer the CEO of the Appraisal Institute. “We are writing to inform you that as of today, September 13, Cindy Chance is no longer in her role as CEO of the Appraisal Institute.” In an interview published by HousingWire, Cindy Chance disclosed that the Board of Directors had terminated her.
Real Estate News
SEPTEMBER 14, 2024
Leaders from eXp and two indie firms announce Realty of America; Compass loses Florida agents to The Agency and Elliman; Christie's, E&V, Corcoran expand.
Housing Wire
SEPTEMBER 12, 2024
Home equity continued to rise in the second quarter of 2024 as residential properties with mortgages collectively gained $1.3 trillion in equity over the past year. But growth began to slow during these three months, according to the CoreLogic Homeowner Equity Insights report published on Thursday. The aggregate equity gain was 8% year over year, bringing total equity on mortgaged properties to more than $17.6 trillion at the end of Q2 2024.
Appraisal Buzz
SEPTEMBER 13, 2024
The latest Mortgage Credit Availability Index (MCAI) released by the Mortgage Banker’s Association (MBA) indicated that there was an increase in mortgage credit availability in August. In August, the MCAI increased by 0.9% to 99.0. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements. In March 2012, the index was benchmarked at 100.
Inman
SEPTEMBER 16, 2024
The Obamas lived in the apartment from 1993 to 2005. The home is now being sold by Grammy-award-winning jazz singer Kurt Elling and his wife, Jennifer Elling.
Eyes on Housing
SEPTEMBER 16, 2024
The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, according to the 2023 Survey of Construction (SOC) from the Census Bureau. The permit-to-completion time inched up 0.1 months in 2023, after an increase of 2.3 months in 2022, as the ongoing skilled labor shortage.
Real Estate News
SEPTEMBER 13, 2024
The nation’s second-largest multiple listing service has been making it easier to enter the data (and keep it private). Is this the wave of the future?
Housing Wire
SEPTEMBER 12, 2024
Lower mortgage rates over the past several months have led to increased affordability for prospective homebuyers, and this could lead to an extra competitive fall 2024 season. That’s according to a Zillow report released Thursday in which the Seattle -based real estate company said that “lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year.“ Zillow noted that the U.S. median monthly mortgage payment in August had declined by mo
Appraisal Buzz
SEPTEMBER 13, 2024
The Homeowner Equity Report (HER) for the second quarter of 2024 has been made available by CoreLogic. According to the report, since Q2 of 2023, home equity for U.S. homeowners with mortgages—who own roughly 62% of all properties—has increased by 8.0% annually. This represents a cumulative gain of $1.3 trillion and an average increase of $25,000 per borrower.
Inman
SEPTEMBER 12, 2024
The search platform is already live on the multiple listing service's website and comes amid a growing interest in using artificial intelligence to improve consumer home searches
JMV Lending
SEPTEMBER 16, 2024
Fed Week: Corruption or Panic on the Part of the Fed? The Fed will announce a rate cut this week, and many pundits are now predicting a 50-basis point cut […] The post Why Appraising a Home For More Than Purchase Price Is So Difficult – For 12 Months appeared first on JVM Lending.
Real Estate News
SEPTEMBER 11, 2024
The future of private listings and MLS integrity is at stake as a key NAR committee meets this week to hear arguments about keeping — or scrapping — the policy.
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