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America’s New ‘Ghost Towns’

Appraisal Buzz

Now Joybird has redefined that term for the modern age. In their new study , “ghost towns” are modern metro areas on the edge of decline due to decreasing population and increasing home and retail vacancies. To create their list of America’s modern-day ghost towns, Joybird analyzed data from the U.S. between 2020 and 2023.

Retail 352
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3 mortgage industry trends that will define the rest of 2021

Housing Wire

But there are definitely a few main things to looks out for — many of which are carrying over from a turbulent 2020 and early 2021 — when it comes to the upcoming landscape for the rest of 2021: Lack of inventory Fluctuating interest rates Increased adoption of technology. Inventory issues.

Mortgage 516
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CFPB ponders how well HMDA captures discrimination

Housing Wire

In a virtual seminar Thursday on “modern-day redlining,” attorneys from Garris Horn, LLP , said the CFPB’s current definition of the practice is better termed “marketing discrimination.”. The HMDA data is a crucial tool for the CFPB in constructing redlining cases. The mortgage industry cheered those changes.

Lending 387
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Like it or not, desktop appraisals are here to stay

Housing Wire

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Use of desktop or exterior-only appraisals peaked in April 2020, reaching a share as high as 17% in some places.

Appraisal 370
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A look behind this year’s Tech100 winners

Housing Wire

In eOriginal’s 2020 Tech100 nomination, the company boasted about the efficiency their ClosingCenter product brought to mortgage lending clients; Fairway achieved 80% faster mortgage acceptance by secondary market investors and also realized a 90% reduction in interest expenses to warehouse lenders for mortgages closed using ClosingCenter.

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Appraisers: Pay Attention to Policy

Appraisal Buzz

For example, the 2020-2021 USPAP will now be effective until December 31, 2022. California building code now allows ADUs and is mandating solar on new construction. Check for updates and news that these federal entities put out. Awareness may help you prepare for changes that are proposed, and changes that have been implemented.

Appraisal 435
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Reviving and Refreshing Your Cleveland Home, even with the Pandemic

Cleveland Appraisal Blog

When March 2020 arrived, people’s lives fundamentally changed. Many modern homes feature open floor plans. Adding a small outbuilding is another construction project that is worth considering, especially if you have a larger yard. During 2020, people invested around $420 billion in home improvements.

Appraisal 195