Appraisal Today

NOVEMBER 24, 2023

The Surfing Appraiser Riding the Waves of Up and Down Mortgage Rates By Mark Buhler Excerpts: Riding the waves of the appraisal profession can result in a range of outcomes and emotions over time. During the refinance boom of the early 2020’s, the majority of appraisers did not have time to come up for air.

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Housing Wire

NOVEMBER 17, 2022

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history.

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Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

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Hank Miller Team

DECEMBER 17, 2021

Well that was until about Mid-March of 2020 when all hell broke loose. The Jan/Feb inventory bounce always happens; and it did in 2020 until the world stopped. Even 2020 started as it should until the bottom fell out. Is new construction the answer? The bump kinda sorta returned in 2021 but what happens in 2022?

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Will Springer Realtor

JULY 12, 2023

Seattle leads the nation in construction cranes. Only three for-sale towers have opened in the city since the start of the pandemic in March 2020 and only one high-rise condo – Graystone – is slated to open this year in Seattle. This may help lower monthly rents but the overall construction industry continues to face challenges.

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Housing Wire

MAY 18, 2022

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home.

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Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. It looks like the change is starting because of increasing mortgage interest rates. USPAP and the Contract. They think it is a contract to hit (it isn’t).

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Appraisal Today

JUNE 10, 2022

Not much work probably compared with 2020-2022. The Inevitable Cyclicality of Mortgage Lending. NOTE: Please scroll down to read the other topics in this long blog post on declining mortgage loans, real estate market, unusual homes, mortgage origination stats, etc. ==. This is the past. Purchase vs. refi appraisals.

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Housing Wire

DECEMBER 19, 2022

Homebuilder sentiment dropped yet again in December, hitting its lowest reading since mid-2012, with the exception of the onset of the COVID-19 pandemic in the spring of 2020. Mortgage rates are down from above 7% in recent weeks to about 6.3% However, builders can only slash prices so much.

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Will Springer Realtor

APRIL 14, 2023

After nearly a year, the housing sector’s contraction is coming to an end,” notes Lawrence Yun, National Association of Realtors® chief economist, speaking about the U.S. Existing-home sales, pending contracts and new-home construction pending contracts have turned the corner and climbed for the past three months.” 

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Housing Wire

JUNE 17, 2021

Mortgage applications for new home purchases fell 9% month-over-month in May at a seasonally unadjusted pace ? the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Censes Bureau releases each month.

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Housing Wire

SEPTEMBER 3, 2022

From BLS: Below are the areas where the report says jobs were created, and the construction job growth data is encouraging to see. Also, we must be mindful that multifamily construction has been good this year, with rental demand still solid. The economic data was getting better in late 2019, and in February of 2020, housing broke out.

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Housing Wire

DECEMBER 7, 2020

housing market was the single best outperforming economic sector globally during the COVID-19 pandemic in 2020. The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. months, the builders are ok with construction as long as new home sales grow. New Home Supply.

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Appraisal Today

JULY 1, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market decline in listing prices, land issues, unusual homes, mortgage origination stats, etc. =. Excerpt: What’s the difference between a newly constructed home and a hundred-year-old home? Mortgage applications increased 0.7 By Jamie Owen.

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Housing Wire

FEBRUARY 25, 2021

It’s no secret that low mortgage rates and societal shifts brought on by COVID-19 have collided to form a red-hot housing market. All four areas saw contract transactions increase from a year-over-year standpoint. These trends, along with an anticipated ramp-up in home construction will provide for much-needed supply.”.

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Housing Wire

FEBRUARY 23, 2021

Eighteen of the 19 cities reported higher price increases in the year ending December 2020 versus the year ending November 2020. increase, noting home prices rose in all nine of the report’s regions in December 2020. December 2020’s 10.4% Digging deeper into the numbers, Phoenix saw a 14.4%

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Housing Wire

OCTOBER 18, 2021

While this October reading is positive, it is still 10 points lower than the index’s all-time high set in November 2020. Treasuries and mortgage-backed debt. This will spur more construction and help ease upward pressure on home prices.”. NAHB attributes this increase to strong consumer demand for homes.

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Housing Wire

APRIL 21, 2022

A former Texas A&M cross country and track athlete and Episcopalian minister, Ballard in 2011 co-founded TreeHouse , a retailer to sell environmentally friendly home construction materials. This means that the doors, windows, electrical all are done by contractors after the walls have been constructed.”.

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Housing Wire

MAY 24, 2022

A few months ago, I wrote that the new home sales sector is at risk because of rising mortgage rates. Going back to the summer of 2020, the one factor that I said could change the housing market was the 10-year yield getting above 1.94%. Except now, we have had massive price gains in 2020, 2021 and 2022. When supply is 4.4

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Houston Properties

JANUARY 13, 2021

What’s shocking is (through the end of 2020) about 23% of Houston neighborhoods in specific areas are still selling at LOWER PRICES than before Hurricane Harvey hit in 2017. Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007.

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Housing Wire

AUGUST 23, 2022

Tuesday’s new home sales report missed expectations and had negative revisions, which isn’t surprising given this sector of our economy simply can’t handle higher mortgage rates. Also, we had a supply spike in 2018, which caused builders to pause construction — and that was with rates only getting toward 5%.

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Housing Wire

OCTOBER 21, 2021

The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike Fratantoni, MBA SVP and chief economist said in a statement. Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”. Existing-home sales rose 7.0% from a year ago.

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Housing Wire

MAY 10, 2023

You may have heard the good news: In recent weeks, several mortgage and real estate brokerage execs have exclaimed that we may have already reached the bottom of the market. For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity.

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Housing Wire

MARCH 26, 2021

During a four-week period ending March 21 and covering 400 metros, 58% of homes that went under contract had an accepted offer within the first two weeks on the market. But that’s not stopping buyers from snatching up homes days after they’re listed. Increasing Lending and Servicing Capacity – Regardless of Rates.

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Housing Wire

DECEMBER 31, 2021

At the onset of the Coronavirus pandemic, the mortgage industry was preparing for absolute disaster. Mortgage executives held emergency meetings with their creditors over worst-case scenarios. Fratantoni’s organization is forecasting mortgage rates to gradually climb over the course of 2022, ending the year at 4%.

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Appraisal Today

SEPTEMBER 8, 2023

It’s been on and off the market since 2014, four years after a lengthy construction project there was completed. What Fannie Says About 3d Printed Homes in Announcement SEL-2023-08September 6, 20233D printed homes are an innovative building technique that brings efficiency and potential cost savings to new home construction.

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DataMaster

JANUARY 15, 2021

Everyone agrees that 2020 was a highly unusual year in many ways. While we have no crystal ball, we will examine 2020’s real estate and make a foray into predicting what 2021 will do. Will appraising in 2021 be better or worse than in 2020? National Housing Prices in 2020. Housing prices in 2020 skyrocketed.

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Housing Wire

JANUARY 9, 2023

With many homebuilders feeling the impact of rising mortgage rates on new-home sales, delivering units for rent is expected to continue to become a larger segment of the overall single-family housing market.”. This will be particularly true as mortgage interest rates remain elevated and increase. Riding a cresting wave.

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Appraisal Today

AUGUST 13, 2023

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. August 9, 2023) — Mortgage applications decreased 3.1

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Will Springer Realtor

JANUARY 9, 2024

The past year witnessed a financial rollercoaster, with interest rates fluctuating between 5.99% and 8.03% for conventional 30-year mortgages, according to Mortgage News Daily. Treasurys and mortgage-backed securities. At the same time, many homeowners are sitting comfortably with low mortgage rates.

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Appraisal Buzz

AUGUST 29, 2022

In 2020, 30% of all households had “unaffordable” mortgage or rent payments. Construction has failed to keep up with the demand of households, especially with the increase during the COVID-19 pandemic. Though mortgage rates still have a long way to go, the country’s seen some weekly decreases throughout the summer of 2022.

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Will Springer Realtor

SEPTEMBER 8, 2021

Builders began construction on just under a million single-family homes in 2020. Some mortgage companies are helping RSU holders to include this potential future income in the formula to determine a buyer’s credit worthiness. in existing-home sales April 2020-March 2021. That’s the most since 2007. of the $5.8T

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Listing Spark

SEPTEMBER 25, 2023

A Dip in New Mortgages With interest rates soaring to unexpected heights, many prospective homebuyers have taken a step back from applying for new mortgages. The Rise of New Construction Homes New construction is stepping up to fill the void in the market.

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The Robert Weiler Company

SEPTEMBER 7, 2022

Low mortgage rates have steadied, welcoming batches of new buyers eager to own a home in the market. commercial property sales hit a 10-year low in 2020, the industry hit a 15-year high in 2021, reaching $809 billion (nearly doubling 2020’s mark of $405.4 The only low point is new construction starts.

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Appraisal Today

NOVEMBER 20, 2022

Many thanks to Ryan Lundquist’s 2020 blog post for the very appropriate image above! NOTE: Please scroll down to read the other topics in this long blog post on State board complaints, non-lender appraisals, mortgage forecast, real estate market changes, unusual homes, mortgage origination stats, etc. ==.

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Will Springer Realtor

MAY 13, 2024

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. Many residents struggle to find and keep a home that they can afford, accentuated by soaring housing prices since the start of the pandemic in 2020. shy of the need.

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Will Springer Realtor

JULY 13, 2023

You are not going to get people to come back into the office to the same degree as they did before 2020. Our urban area accounts for about half of the city’s economic activity, and the Seattle Chamber noted that rising office vacancies coupled with less construction could lead to $2B in decreased revenue. The city was No.

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