Appraisal Buzz

OCTOBER 3, 2022

I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers. Inventory levels have an impact on property valuation, at least in the short term.

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Housing Wire

JANUARY 3, 2024

Brokerage firms are not producing goods on a factory line — there are no warehouses holding physical inventory, no retail distribution channels and really, no patentable intellectual property. First, the business of residential brokerage is highly dependent on the recruiting, retention and production of independent contractor sales agents.

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Housing Wire

JUNE 8, 2021

EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. In 2020 it acquired equipment finance lender Ascentium Capital and a year prior picked up institutional investment firm Highland Associates. billion in volume in 2020. in 2021 to $433 billion.

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Housing Wire

MAY 13, 2021

. “While still strong, this sales pace remains below the 877,000-sales pace seen in the second half of 2020.”. The purchase market remains strong overall, but low housing inventory and accelerating home prices have started to adversely impact purchase activity,” said Kan. of loan applications, followed by just 15.8%

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Housing Wire

AUGUST 5, 2022

When I wrote the America is back recovery model on April 7, 2020, and then retired it on Dec. 9, 2020, I knew one data line would lag the most: jobs! Well, I was off by two months: Today, the BLS reported that 528,000 jobs were created with positive revisions of 28,000, which gave us just enough to pass the February 2020 levels.

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Housing Wire

OCTOBER 15, 2020

A Q3 2020 rise in vacant foreclosures signals a possible re-escalation in a hard-fought battle against neighborhood blight in which many cities have just recently gained the upper hand. “We When we began a decade ago there was much more blight. There were more than 5,000 vacant properties. nationwide in the second quarter.

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Housing Wire

OCTOBER 2, 2020

Caliber, headed by CEO Sanjiv Das, has retail, wholesale and correspondent lending channels, and has developed a large book of business in the purchase space. Caliber is also among the 10 biggest GSE sellers, at nearly $34 billion in mortgages through August 2020.

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Housing Wire

JULY 27, 2021

Here are three ways one lender is working with borrowers in different circumstances, creating opportunities to open up inventory. Home prices rose 18% from May 2020 to May 2021. This dynamic confluence of housing developments is helping keep price growth in check as we approach August.” Presented by: Acra Lending.

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Housing Wire

MAY 11, 2021

The San Francisco-based instant homebuyer announced a net income loss of $270 million on Tuesday, a 421 percent jump compared to the first quarter of 2020’s $62 million deficit. The Q1 2021 loss approached Opendoor’s $280 million net income loss for all of 2020. And by some secondary measurements, Opendoor is growing.

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Housing Wire

APRIL 22, 2021

I’ve had a few couples from New York — Manhattan and Brooklyn — that come down here armed with cash, but inventory is low and there’s nothing for them. There’s less than 30 days worth of inventory for homes under $300,000 right now.” “It’s just an inventory problem right now,” Sutton said.

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Housing Wire

FEBRUARY 8, 2022

This development did not occur overnight: Over the past 20 years, we have “underbuilt” housing by at least 5.5 Low housing inventory. In 2020, just? On top of these efforts, there must be a national commitment to reform our land use and zoning practices that too often act as barriers to the development of affordable housing.

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Housing Wire

APRIL 7, 2021

Inversely, data from Zillow showed for-sale inventory climb the highest in four major real estate markets – Los Angeles, Chicago, San Francisco, and New York. markets; by December 2020, prices were already up 23.6% While moving itself can be stressful, changing zip codes in 2020 and 2021 seems to be eliciting mostly happiness.

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Housing Wire

SEPTEMBER 16, 2021

While the pace of mortgage originations has fallen off somewhat this year relative to a record 2020, I expect that servicing will get an increased focus over the next year. Note that some of these loans in the foreclosure inventory may have been so prior to the pandemic. In June 2020, roughly 8.5% Exhibit 4.

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Housing Wire

DECEMBER 16, 2021

The latest news regarding the Omicron variant has many cautious about whether the recovery that began in the second half of 2020 and blossomed in 2021 can continue. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates? This additional inventory is sorely needed.

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Housing Wire

APRIL 8, 2021

Those high prices are being felt locally, as only 31 homes were sold in March this year as opposed to 44 sold in March 2020. Homes in Logan are only staying on the market for an average of eight days; in 2020, homes were staying on the market for an average of 25 days. “But it got to a point where we began falling behind.

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Housing Wire

APRIL 19, 2021

Last year, Laura Grannemann’s dedication to providing Americans with access to safe and affordable housing earned her a spot as one of HousingWire’s 2020 Women of Influence. Today, her passion is still apparent in the work that she’s doing to help those in underserved communities own homes and build wealth. .

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Housing Wire

APRIL 28, 2022

The residential housing market has turned quickly due to historically low inventory of homes for sale and a rapid rise in interest rates due to inflation,” Cindy Flynn, chief marketing and communications officer, said in a statement. “We, from 2020 to 2021, to $13 billion. The lender’s origination volume increased 25.8% billion, up 65.5%

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Housing Wire

JUNE 23, 2021

With low housing inventory and rapid home-price growth, homeownership can seem less and less attainable for several groups of potential homebuyers. Record-high demand for homes coupled with historically low inventory has driven prices up precipitously. According to the Radian Home Price Index , home prices rose 9.2%

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Housing Wire

MAY 10, 2021

There are about 30 new developments in the city right now, the [Susquehannah River] runs right through the middle of downtown — it’s becoming a cool place to live. Bicksler added that inventory in Harrisburg is roughly one-fourth of what agents are used to. “Harrisburg proper is actually really amazing,” she said.

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Housing Wire

JUNE 7, 2023

It’s important to note that as of 2020, 41% of Arizona’s water supply came from groundwater, 36% from the Colorado River, 18% from in-state rivers, and 5% was reclaimed water. The HBACA noted that development of industrial and commercial buildings can continue, but homebuilders are restricted unless they find alternate water sources.

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Housing Wire

SEPTEMBER 27, 2022

This isn’t true (just look at his next statement, below) — he really wants the bidding wars to end, and for total inventory to grow and regain balance. As you can see below on the NAR total inventory chart, we didn’t have a seasonal push in inventory in 2020, which left us vulnerable to price growth that was above the historical norm.

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Housing Wire

JANUARY 29, 2024

How much will the inventory shortage contribute to the rise in home prices this year? Duncan: I sat in on a meeting with about 30 small and midsized mortgage company CEOs where they said they made so much profit in 2020 through 2022, some of them are actually running at a loss knowingly to keep their best people.

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Housing Wire

MAY 10, 2021

The severe lack of inventory in today’s housing market has been a source of stress for home buyers and real estate agents alike. For buyers in today’s market, the severe lack of inventory adds another layer of frustration, FOMO (fear of missing out) and a sense of urgency. Instead, embrace change, and make it work for you. .

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Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. I hadn’t developed a network for mortgage lending with Realtors,” Woodward said about his work at Interfirst in Indiana.

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Housing Wire

JUNE 1, 2022

With the current cost of origination, combined with higher interest rates and low housing inventory on the horizon, the MBA reports that 2022 is likely to see about a 30% decline in overall mortgage originations, as compared to 2021. According to a 2020 study by J.D.

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Cleveland Appraisal Blog

OCTOBER 14, 2021

It is interesting that inventory levels were increasing rapidly in the years leading up to 2008. Before the pandemic, there was already a shortage of housing inventory in many parts of the country, including in Northeast Ohio. Typically, when there is a shortage of inventory, with high demand, prices increase. We’ll never know.

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Appraisal Buzz

DECEMBER 27, 2021

million units , and some experts say it could reach 8 million if there were more inventory. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Thus, the FHFA will likely have to develop a set of best practices in the coming years to prevent these snags and protect you and lenders.

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Housing Wire

MAY 6, 2021

of homes sold in the fourth quarter of 2020 that were affordable to households earning the median income of $78,500. “After a surprising gain for housing affordability in 2020 that was driven by historically low interest rates, housing emerged as a bright spot for the overall economy,” said NAHB Chairman Chuck Fowke.

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Birmingham Appraisal

FEBRUARY 6, 2024

In this post we’ll discuss average and median sold price, average days on the market (DOM), and months of inventory. The second graph shows average and median price trends over a shorter time period, from 2020 to the end of 2023. In simple terms, the Months of Inventory is like a thermometer for the real estate market.

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Housing Wire

NOVEMBER 16, 2020

A Redfin statistical study of the El Paso housing market showed a 2% year-over year rise in new listings (936 from September 2019 to 956 in September 2020) and a gigantic 40.3% Torres said that developers in El Paso are in the midst of planting “a ton” of new housing expansions that will most likely be scooped up in early 2021. “[The

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D Fritz Appraisals

JUNE 28, 2022

Significantly reduced housing inventory. At the same time, inventory of available homes dropped significantly and BCREA Chief Economist Brendon Ogmundson is quoted as saying ‘While sales are not keeping pace with the unprecedented levels seen [in 2021], demand remains strong’. Higher disposable household income .

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Housing Wire

JUNE 17, 2021

“Since reaching a survey-high 927,000 units in October 2020, the annual pace of new home sales has now fallen around 20 percent, weighed down by low housing inventory and rising prices,” said Kan. That’s more than 50% above above the May 2020 rate — when the COVID-19 pandemic was at its height in the country — of 1.05

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Housing Wire

MAY 25, 2021

Census Bureau and the Department of Housing and Urban Development. April’s new home sales are nearly double that of April 2020’s estimate of 582,000. lower than the revised March rate, according to a joint analysis from the U.S. While homebuilders grapple with supply constraints, demand has yet to be met.

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Housing Wire

MAY 8, 2023

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

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Housing Wire

FEBRUARY 1, 2023

Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range]. Most of the temporary rate buydowns offered through FBC are paid for by builders, he said. “We We do a lot of buydowns, so we’re in the thick of buydowns right now,” Nunziata said.

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Housing Wire

APRIL 8, 2021

In early 2020, Zoom was barely a known company in America. Low mortgage rates, driven by quantitative easing by the Federal Reserve helped fuel a boom in both mortgage refinancing and purchases, making 2020 the second-best year in U.S. The post Developing a lending strategy for rising mortgage rates appeared first on HousingWire.

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Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” From a seller’s standpoint it may make a bit more sense to sell now, so we are creating some more inventory and buyer are taking advantage of lower rates and more stable home prices.” Last year was a tough one for the Indiana real estate market.

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