Appraisal Buzz

JUNE 20, 2022

Adoption of the Square Footage-Method for Calculating, American National Standards Institute (ANSI) Z765-2021 upended the long-standing routine and methodology for thousands of appraisers. All the talk and attention given to appraisal modernization, appraisal waivers, desktop and hybrid appraisals contributes to anxiety.

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Appraisal Today

MAY 19, 2023

ChatGPT is an advanced AI language model developed by OpenAI that can be used to streamline the appraisal writing process. Good video UAD Redesign the Movie (from 2021 but still relevant) I have written about this twice before in this newsletter. The average contract interest rate for 15-year fixed-rate mortgages increased to 5.96

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Listing Spark

MARCH 15, 2022

Check out our home-seller checklist which will guide you through your home sale from pre-listing to contracts and closing. A fresh coat of paint or some new furniture can go a long way in making your home look more modern and appealing. A recent development has seen homes in metro areas increase in value. Love this list?

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GoForrmz

DECEMBER 12, 2022

There have been additional regulations set in place from other various industry regulators and international jurisdictions, and even modernization updates to the E-SIGN Act proposed in 2022, indicating that eSignatures are to remain a top priority for global commerce in the foreseeable future. “ ” — Bain & Company, 2021.

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Appraisal Today

SEPTEMBER 8, 2023

But that popularity did not translate into a sale, and the stately dwelling returned to the market more recently in 2021 for $35 million. The community is part of a wider development in Georgetown, Texas called Wolf Ranch. Moat and Waterfall at This $880K Midcentury Modern Inspired Home in Vermont 4 bedroom, 3.5+ percent from 7.31

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Will Springer Realtor

FEBRUARY 8, 2023

Facebook (Meta) is evolving its office arrangements, leaving space in Seattle and Bellevue and contemplating additional contraction while opening a new lab (Frank Gehry-designed Building X) in Redmond later this year. Public development can be a great option for increasing the supply of homes. Bureau of Economic Analysis.

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Appraisal Today

SEPTEMBER 17, 2022

Catskills Modern: ‘Sleeve House’ Highlighted by Charred Wood Exterior. Excerpts: An extremely modern home with an equally dark exterior is now available in Ancram, NY. This 2% market share for 2021 represents a decline from years prior to the Great Recession. This marked the largest share for the 1992-2021 period.

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Appraisal Today

NOVEMBER 20, 2022

Unfortunately, because many appraisals were rarely rejected or required corrections, appraisers developed the false notion that poorly crafted appraisals were okay to turn in. FNMA indicates that their 2022 lending volume is down 47% from 2021 and is expected to drop by another 50% in 2023. What’s happening now.

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Clear Capital

JUNE 21, 2022

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry.

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Will Springer Realtor

OCTOBER 11, 2023

The effort was led by lawyer Edward Bassett, who went on to develop freeways and parkways. Creativity and individuality were often tossed aside by these mass-built developments. MHA requires developers building market-rate apartments, townhomes and other developments to either include affordable units on-site or pay fees.

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Will Springer Realtor

MAY 9, 2023

They have also been spending oodles of money to shape their residences to meet new living needs – modern and spacious, when possible – as households live in their homes for longer. month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 Owners are investing about $475B ( yes, billion!

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Will Springer Realtor

JULY 13, 2023

Local government, developers, architects and others will need to step up and take responsibility for the sake of our city. It is lack of labor, land/lots, lumber/materials, lending for builders and land developers and ever-costly legal/regulatory costs,” he said. This is a time for leadership and for action,” Smith said.

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Will Springer Realtor

APRIL 11, 2022

With each stall in a commercial garage costing tens of thousands of dollars to build, parking requirements can impose significant costs on property developers, owners and renters. Rather than allocating parking that goes unused, developers could propose sharing available space in nearby buildings. Washington was 40 th among U.S.

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Will Springer Realtor

MAY 9, 2022

While these are promising developments, there will always be the affordability question. The latest survey took place June 2020-October 2021 and asked 2700 adults in King, Pierce and Snohomish counties. >> The 323,465 flipped single-family, condo and townhomes in 2021 is the highest number since 2006 and represented 5.5%

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The Robert Weiler Company

JULY 4, 2022

Property Management Kit For Dummies (4th Edition; December 2021). Some of the tips you’ll find include marketing for available rental spaces, increasing curb appeal, and updating the apartment building and rental space for lease to include modern features and amenities sought by today’s renters. Happy reading!

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The Robert Weiler Company

NOVEMBER 10, 2021

If you plan to buy commercial real estate in Ohio or beyond, you must have access to a roster of current tenants, service contracts, and maintenance records. Not only that, but you want those transit links to be modern, well funded, and in high use. percent in the second quarter of 2021. Do you have a paper trail?

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Will Springer Realtor

JULY 8, 2022

The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. The second half of the year will look much different than 2021. home sales has fallen from 31% in May 2021 to 27% today. Closing costs for U.S.

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Will Springer Realtor

SEPTEMBER 8, 2021

It is developing several single-family and multifamily communities in King and Snohomish counties. The company forecasts an 8% YoY increase in new communities for 2021 across the U.S. Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. of the $5.8T

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Will Springer Realtor

DECEMBER 11, 2022

This year’s “cold down” is stark, with 36% fewer new listings and about 26% fewer homes under contract (Pendings) for all King County home types combined as well as single-family structures alone – and that’s simply from October to November. A little more than a third of inventory is under contract. Plus, don’t miss the outdoor pool.

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Housing Wire

MAY 27, 2022

Likewise, a 2021 Freddie Mac study of more than 12 million appraisals dating back to 2015 found that appraisers’ opinions of value were more likely to fall below the contract price in Black and Latino census tracts. Some researchers point to appraisal methodology as a culprit. The scope of the challenge should not discourage us.

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Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. Fannie Mae also included efforts to “modernize” appraisals in its equity plans. Non-traditional appraisals to the rescue.

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Will Springer Realtor

MAY 12, 2021

Housing starts – the number of units builders would begin if development kept pace for the next 12 months – increased 19% nationally to a seasonally adjusted annual rate of 1.7 Among that group, 10% of current owners plan to put their homes on the market in 2021, translating into about 1.5 We are on the right track. million units.

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Will Springer Realtor

AUGUST 9, 2022

That’s the conclusion of a 2021 report from the Research Institute for Housing America, which signaled added “stress” on housing and housing finance industries in determining risk. in Q1 of 2021 and is the highest rate of home flipping in the 21 st century. That’s 40% more homes than we have today. >> of all U.S.

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Will Springer Realtor

OCTOBER 11, 2022

People love experiences to fill their memory bank and social media feed – and real estate developers are listening. Seattle experienced a 32% (1031) monthly increase in new listings but a 15% (558) decline in homes going under contract, as median prices fell 2.9% ($900,000) since August and remain 5.9% TREATING YOURSELF EVERY DAY.

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Will Springer Realtor

JUNE 8, 2022

Well, I am only a single real estate professional with one opinion but, for me, the solution includes enacting a blend of corporate and federal dollars toward incentivizing the development of affordable for-purchase housing that targets under-served communities whose residents would otherwise find homeownership difficult to achieve.

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Will Springer Realtor

JUNE 9, 2021

Is this the beginning of a housing bubble, 2021-style? “I One survey estimated Americans’ personal savings increased 15% in a year (April 2021), down from a high mark of 28% a month earlier. One-tenth surveyed said they have added language to contracts that require buyers to share in the materials costs if they continue to rise.

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Will Springer Realtor

JULY 9, 2021

Urban planners have a name for it: the 15-minute neighborhood and it is already in development in parts of the country, including Seattle. Where would you like to see this type of neighborhood development? Make sure residents can get to their employer and to a jobs center. Send me a message. ——-.

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Will Springer Realtor

JUNE 9, 2023

They found that the number of households headed by 25- to 34-year-olds grew by 300,000 per year in 2016-2021, up sharply from an average annual growth of 45,000 households between 2011 and 2016, a difference of 260,000 additional households per year. We need every market-rate and affordable home that developers can produce.

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Appraisal Today

MAY 5, 2023

It’s not the length of the report which is of ultimate importance, it is the time necessary to develop the appraisal that is key. When I did my articles on ANSI in 2022, I had a long interview with Byron as he was on the ANSI Z765-2021 Standards Committee. The average contract interest rate for 5/1 ARMs increased to 5.48

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