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Housing inventory falls under 1M again as sales collapse

Housing Wire

From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.” Also, this is what the Federal Reserve wants.

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The Similarities Between 2007 and Today

Appraisal Buzz

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. We are seeing that as a profession again.

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Practical Tips for Working With AMCs

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on AMCs, non-lender appraisals, liability, ROVs,unusual homes, mortgage origination stats, etc. ==. Mortgage Lending You decide. Mortgage Borrowers Can Challenge Inaccurate Appraisals Through the Reconsideration of Value Process.

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Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In fact, it was the skills I developed selling loans that helped develop my ability to influence policy leaders and others in industry during my time as Federal Housing Commissioner and as CEO of the Mortgage Bankers Association.

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Data Collectors: Appraisers vs. Uber Drivers

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on humor, non-lender appraisals, mortgage forecast, staying positive when you’re slow, unusual homes, mortgage origination stats, etc. In 2000 and 2002, Architectural Digest named him one of the top 100 architects in the United States.

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SFR with ADU or Two Units?

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, VA, flood and fires no insurance, retirement, few lender appraisals, unusual homes, mortgage origination $22M Modern Mansion on 130 Acres in Napa Has Its Own Cabernet Vineyard Excerpts: 6 bedrooms, 6.5+ The GSEs started keeping track in 71.

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How to Reduce Appraisal Revision Requests

Appraisal Today

This strategy often backfires because parties involved in the lending process cannot find the specific information they are looking for in the report. NOTE: Please scroll down to read the other topics in this long blog post on retirement, classes, adjustments, real estate market, unusual homes, mortgage origination stats, etc.