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The 2022 housing market: A tale of two halves

Housing Wire

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.

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The Similarities Between 2007 and Today

Appraisal Buzz

Many of the complaints and allegations about appraisals related to not addressing the changes happening in the market as the meltdown began to occur, calling the market stable when prices were starting to decline. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today.

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Appraisers and Local Market Analysis

Appraisal Today

Appraisers and Local Market Analysis. Excerpts: Social media and the mainstream media make a mess of these markets even in the best of times. They do not have the bandwidth to cover local markets. National data simply does not apply to the local real estate market and the closest large markets are Richmond and Washington DC.

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ChatGPT for Appraisers

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on non lender appraisals, liability, markets with few sales, Bias, unusual homes, mortgage origination A California Winery With a 91-Acre Vineyard for $12,995,000 Red Soles Winery, a 91-acre vineyard. Markets hate uncertainty. Or hit the reply button.

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Data Collectors: Appraisers vs. Uber Drivers

Appraisal Today

Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. Very tough market now with many layoffs.