Appraisal Buzz

APRIL 11, 2022

It’s increasingly difficult for home appraisers to predict what will happen next, between seller booms and fluctuating mortgage rates. Mortgage rates dipped to record lows in 2021, then skyrocketed in early 2022. As long as those issues persist, we should not expect mortgage rates to level out any time soon. 2021 to Jan.

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Housing Wire

OCTOBER 16, 2023

homeownership, alongside data detailing housing aid that has been provided since 2021. New initiatives include allowing homebuyers to leverage income from accessory dwelling units (ADUs), expanding mortgage lending for U.S. HUD will also continue to work on updates for its 203(k) Rehabilitation Mortgage Insurance Program.

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Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. In turn, LOs will be fighting for a piece of the mortgage pie with less rate-sensitive mortgage products, just as they did in 2022.

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Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. “I higher than last year.

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Mortgage Loan Officers Inventory Retail 375

Lamacchia Realty

FEBRUARY 8, 2022

Because of this, many buyers going through the home buying process are becoming more open to a house that needs renovations. Purchasing a home that requires renovations and repairs might seem overwhelming, but with these tips, the process of purchasing a fixer-upper and making those first repairs is much more manageable.

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Housing Wire

JANUARY 3, 2024

If a Colorado teacher making the average salary had $20,000 to put towards a down payment and were willing to spend 30% of their pre-tax salary on their mortgage payment, she could afford a house that cost about $225,000. million over that period to acquire 52 units and renovate several of its 50 existing units.

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Housing Wire

MAY 16, 2022

The Biden administration today unveiled a plan that it says will “help close” the housing supply gap, which one 2021 tally put at 1.5 The plan is in addition to measures the federal government announced in September 2021 that the federal government said would create 100,000 homes in three years. million homes, in five years.

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Housing Wire

JANUARY 19, 2022

The option is not available for second homes, investment properties, cash-out refinances, construction loans, multi-unit properties, renovation loans, condos, co-ops or manufactured homes. That share diminished over time, and the flexibilities finally lapsed in May 2021.

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Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. trillion in mortgage originations in 2021. Fannie Mae recently projected originations for 2023 at $1.59

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Inventory Renovations Real Estate Government 447

Housing Wire

APRIL 27, 2023

And yet another big force in the market, FirstKey Homes , is pulling collateral out of a 2021 securitization deal. The lawsuit claims further that the company “ignored permitting laws to avoid fees and increased taxes as well as to get renovated homes on the rental market as soon as possible.”

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Housing Wire

JUNE 30, 2022

While a booming market kept brokers busy in 2021, the 2022 housing market has been underscored by rising interest rates, inflation and geopolitical turbulence. With 35 years of experience in the mortgage business, Flagstar has reputation for successfully navigating the ebb and flow of an ever-changing housing market.

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Appraisal Buzz

SEPTEMBER 26, 2022

In 2021, more than 90% of builders reported backlogs and supply scarcity. Building entire neighbors can encourage large-scale construction. Immigration policies can impact construction because the industry relies on them for labor. million migrant workers in construction. million migrant workers in construction.

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Housing Wire

JUNE 21, 2022

Yes, there are some government programs that provide construction components on permanent loans, but they are not ideal for inexperienced home buyers. That way the homebuyer can get a straightforward, relatively inexpensive 30-year mortgage to finance their purchase. of all flipped homes in Q3 2021 went to FHA buyers.

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Investors Renovations Inspection Government 387

Assurance Financial

APRIL 18, 2022

After your purchase, you can renovate the property to make it suit your tastes and fit your needs. Depending on the extent and cost of your home improvement goals, you might need to take out a loan for renovations. A home renovation loan is most likely not going to be the same as your mortgage. Why Remodel Your Home?

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Renovations Construction Home Improvement Mortgage 74

Housing Wire

OCTOBER 17, 2023

Fix-and-flip investors — who tend to be smaller entrepreneurial players — acquire, renovate and then sell existing single-family homes — and, in some cases, hold them for rent for a time, depending on market conditions. hit in the second quarter of 2021.” It remained way below the 44.6% Rick Sharga, CEO of CJ Patrick Co.,

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Housing Wire

FEBRUARY 8, 2022

In October 2021, FHFA Acting Director Sandra Thompson announced to a crowd of mortgage industry professionals that desktop appraisals would become permanent, starting early in 2022. But it wasn’t an appraiser deciding to loan 125% of a home’s value for a 3/1 adjustable rate mortgage. But any risks appear to have been resolved.

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Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. The name of the game in the industry was purchase mortgages. and Scotsman Guide ‘s fourth-ranked LO in the country.

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The Robert Weiler Company

MARCH 15, 2021

That’s why special purpose property appraisals and commercial mortgage preapprovals are vital to your ultimate (buy) decision. Cost approach : This practice compares the special purpose property appraisal value to the cost of constructing a replica structure, while also including depreciation. Such an approach isn’t controversy-free.

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Housing Wire

FEBRUARY 8, 2024

With extensive experience in new construction home sales, Janet is certified in luxury home sales and specializes in relocation and new construction builder sales. Growing up in Savannah, Georgia, as the daughter of a builder and developer, she learned the processes involved in new home construction from her dad.

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Cleveland Appraisal Blog

APRIL 29, 2021

The materials used in the construction and decoration of your home are also extremely important because they determine how structurally sound your property is, how it’s going to last over time, and how much maintenance it’s going to require. Again, there is not much you can do about construction materials. Materials used. Bottom line.

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Appraisal Today

APRIL 5, 2024

NOTE: Please scroll down to read the other topics in this long blog post on appraiser discrimination lawsuit, waivers, staying positive with slow business, appraiser’s economic forecast, unusual homes, mortgage origination stats, etc. Mortgage rates Mortgage rates exhibited a minor retreat to 6.79%, remaining within the 6.6%

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Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. 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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Raleigh Realty

JULY 12, 2022

for overall real estate prospects Houses spend less than half the amount of time on the market than in 2021 Houses sell for almost $5,000 less than the national median price Over half of Raleigh residents own their home Raleigh Real Estate Demand Raleigh real estate trends show an increase in demand for housing in The Triangle.

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Will Springer Realtor

OCTOBER 3, 2023

I published a detailed overview on the topic in 2021.) For context, 43K homes were added in the state in 2021.) Their compact footprint means lower utility bills and the dwellings are typically constructed of the most modern materials that insulate rooms airtight. and includes the design, labor, materials and permits.

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Cornerstone

AUGUST 17, 2021

Census confirms; these homeowners no longer have a mortgage.* Those who do have a mortgage are still seeing their equity spike. ATTOM Data Solutions’ second-quarter 2021 U.S. The portion of mortgaged homes that were equity-rich in the second quarter of 2021 — one in three — was up from 31.2

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Mortgage Renovations Loan Officers Home Value 44

Quicken Loans

APRIL 7, 2021

One likely reason for this is no doubt a moderate increase in mortgage rates. Today, we would like to spotlight another factor causing issues in the housing market and possibly even delaying construction of homes in some areas. There’s a real shortage of the necessary materials for constructing and renovating homes at this point.

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Empire Appraisal Group

NOVEMBER 11, 2021

For example, even though the Veterans Administration co-signed low-interest mortgages for veterans, the banks continued to keep Black families out of American suburbs. In Durham, for example, the construction of the Durham Freeway contributed to the demise of thriving Black commerce in the city. Is gentrification bad?

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Will Springer Realtor

DECEMBER 11, 2022

for single-family homes ($1.316M), astounding after YoY prices were up 35% in the 12 months ending November 2021. In fact, mortgage demand rose as interest rates fell following October’s slowdown of inflation growth. Does this signal a peak in mortgage rates or a temporary blip? 2-story (with basement) and 22 ft.

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Appraisal Today

JANUARY 19, 2024

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, and types of bias, Scams on black homes, unusual homes, mortgage origination stats, etc. Remember the old days with personal relationships with mortgage brokers? January 17, 2024) — Mortgage applications increased 10.4

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Will Springer Realtor

DECEMBER 13, 2022

For 34 consecutive months ending in March, buyers enjoyed mortgage interest rates of 4.0% In its place, rising everything – home prices, mortgage rates and inflation (Why are eggs so expensive? households that could afford a modest $400,000 mortgage – about the amount required to purchase a median-priced home in the U.S.

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Appraisal Today

NOVEMBER 3, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Investigation of desktop appraisals, economic analysis, Bias, hybrid appraisals, unusual homes, mortgage origination stats, etc. Mortgage markets navigate through a storm This year, mortgage markets have been stirred by significant volatility.

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Appraisal Today

JANUARY 4, 2023

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and non-traditional appraisals, Non-lender appraisals, reos, tear downs, unusual homes, mortgage origination stats, etc. ==. But it means appraisal work for other than refinancing an existing mortgage or applying for a first mortgage loan to purchase a house.

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Appraisal Today

JULY 22, 2022

When Fannie first announced in December 2021 that ANSI would be required on April 1, 2022, there was lots of confusion among appraisers who had never used ANSI or were not using it properly. ANSI Z765-2021 Resources for Appraisers. What did he think when Netflix approached him about doing this type of construction?

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Appraisal Contracts Buyers Design 52

Will Springer Realtor

MARCH 14, 2022

Interest rates on a 30-year mortgage have slipped since the start of the conflict, now averaging 3.76% in the U.S., My lender friends in Seattle are quoting mortgage rates of around 4% (plus or minus an-eighth of a point), depending on individual circumstances. A 2021 survey showed nearly half of U.S. OLYMPIA LEGISLATIVE RECAP.

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Housing Market Marketing Real Estate Supply Chain 36

Quicken Loans

JUNE 10, 2021

Meanwhile, the number of new construction homes sold according to the Census Bureau and the Department of Housing and Urban Development was down 5.9% New Residential Construction. To be fair, that’s not saying much because a lot of construction came to a halt around that time because we were just beginning lockdowns.

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Real Estate Marketing Construction Clients 38

Will Springer Realtor

AUGUST 9, 2021

The index showed a growing difficulty to afford a home even while household income and mortgage rates improved compared to last year. And, Seattle’s attempt to force building developers to incorporate more affordable homes within their new residential endeavors yielded only 21 units in 2020 out of a swell of 224 construction projects.

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Construction Inventory Property Taxes Development 36

Will Springer Realtor

MAY 9, 2023

Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%. such renovations to these homes (between 20 and 39 years old), with about 200,000 of those projects running north of $25K each. And, opening this year, Graystone.

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Real Estate Modernization Construction Supply Chain 36