Will Springer Realtor

JANUARY 30, 2024

A home inspection is like a test drive for real estate. Just as you wouldn’t buy a car without knowing its condition, a home inspection ensures buyers are aware of the condition of the home they are considering purchasing. Despite this advice, a significant group of buyers forgo the inspection. It’s a smart thing to do.

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National Association of Realtors

JANUARY 24, 2022

The fraction of buyers who are waiving appraisal and inspection contract contingencies has been trending downwards in recent months, with REALTORS® saying that 19% of buyers waived the inspection contingency in December 2021, down from 27% in July, and 21% waived the appraisal contingency, down from 29% in June.

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Genworth MI Blog

AUGUST 31, 2022

Enact’s David Foster recently spoke with MortgageOrb about how the COVID-19 pandemic impacted inspections and appraisals, the changes we see today, and other appraisal factors to consider. Q: How have inspections and appraisals been impacted since the beginning of the COVID-19 pandemic?

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Appraisal Buzz

DECEMBER 15, 2021

On December 15, 2021, Fannie Mae issued Announcement SEL-2021-11 which heralded a number of changes that were made to its Selling Guide. As of April 1, 2022, Fannie Mae will require appraisers to measure subject property improvements using ANSI Standard Z765-2021.

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Housing Wire

DECEMBER 11, 2020

31, 2021. “We 31, 2021 from Dec. Are borrower-assisted inspections here to stay? The relaxed lending standards allowed the GSEs to use “appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages.” 31, 2020, however Fannie Mae is now pushing that back to at least Jan.

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Housing Wire

FEBRUARY 26, 2024

Meanwhile, homeowners association (HOA) fees multiplied for many condo buildings in the aftermath of the 2021 Surfside condo collapse. In May 2022, the Florida Legislature introduced a new condominium safety law, which mandates more rigorous inspections and stronger financial reserves for HOAs.

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Lamacchia Realty

JANUARY 20, 2022

THERE IS NO PASS OR FAIL WITH HOME INSPECTIONS. A home inspection is an important part in the home buying process, however a common misconception is that it is a pass or fail type of inspection. What is a Home Inspection? After an inspection, it is important for a buyer to not get caught up in the “little things”.

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Lamacchia Realty

MARCH 9, 2022

WHAT TO DO IF A BUYER REQUESTS REPAIRS AFTER INSPECTION. A common issue that many sellers are not prepared to deal with is a buyer requesting repairs after the inspection. Before someone purchases a home, a home inspection is typically done. April 8, 2021. April 8, 2021. Why Do Buyers Request Repairs? Read More ».

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Housing Wire

MARCH 22, 2021

Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021. And don’t even think about making an offer below asking price in 2021, officials said. You won’t win the bidding war.

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Mashvisor

SEPTEMBER 11, 2021

Buying investment property involves spending your hard-earned money in the hope of making a good return in the future. To enhance your chances of success, it is very important to…

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Housing Wire

MARCH 11, 2021

The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021. However, the government agency is now pushing that back to at least April 30, 2021. In a statement issued on Feb. Those alternative appraisals may become long-term solutions.

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Clear Capital

MAY 7, 2021

Watch this Tech Talk from Mortgage Innovators Conference 2021 to learn how appraisal modernization can help unlock a better, faster, and cheaper appraisal process while closing the gap in unfair lending practices. Collecting data in a non-biased, standardized format helps decrease the systemic racial bias found in appraisals.

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Appraisal Buzz

MARCH 14, 2022

According to a new report from Redfin, prospective homebuyers who offered cash payments were more than four times as likely to win a bidding war as those who didn’t in 2021, currently making all-cash offers the most effective strategy to secure a home with multiple offers.

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Housing Wire

JULY 6, 2023

This new guidance follows a letter issued in 2021 by Fannie Mae that created temporary requirements for condos and co-op projects after the partial collapse of condominium complex Champlain Towers South in Florida that claimed the lives of 98 people and injured 14 others. All requirements go into effect on September 18.

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Appraisal Buzz

AUGUST 9, 2021

Not so long ago, there were very few appraisers that knew about property inspection waivers. For example, the 2020-2021 USPAP will now be effective until December 31, 2022. The GSEs implemented policy around the COVID-19 pandemic to temporarily allow for flexibility in reporting and inspecting/observing properties.

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Housing Wire

JANUARY 14, 2021

31, 2021, however, the government entity is now pushing that back to at least Feb. ” In a letter sent by Fannie, the Enterprise cited many lenders were unable to obtain an appraisal based on a full interior and exterior inspection of the subject property as the virus continued to spread.

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Lamacchia Realty

JUNE 19, 2021

AT A FLORIDA HOME INSPECTION. During the buying and selling process, a home has to undergo a home inspection. Home inspections are used to identify any issues in the home so that the buyer knows exactly what they’re getting into and the seller isn’t selling a home that’s unsafe. Do Old Electrical Panels Need to be Replaced?

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Housing Wire

AUGUST 8, 2022

CubiCasa said its technology accurately calculates square footage helps minimize inconsistencies and variation in the property data collection and inspection process. In September 2021, Clear Capital bought CubiCasa, which is now a fully owned subsidiary of Clear Capital that operates independently of its corporate parent.

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Housing Wire

JANUARY 3, 2022

Employing computer vision and machine learning help streamline the inspection process, lower the cost of collateral underwriting, and reduce the time it takes to get collateral approval.”. Clear Capital acquired CubiCasa , a Finnish PropTech start-up that automates floorplan sketch creation, in September 2021.

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McKissock

JANUARY 5, 2021

Last month (December), we asked our CE Plus members , “What are your career goals for 2021?” Real Estate Career Goals For 2021. “To full-time draftsman to full-time real estate agent/investor by the end of 2021.” The post Real Estate Agents Divulge Their Goals For 2021 appeared first on McKissock Learning.

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Town & Country Residential Appraisals

MAY 9, 2022

As many have heard, read or experienced, the real estate market in the year 2021 was crazy. Buyers were getting very aggressive with their offers, electing to forego all inspections, include escalation clauses and even include things such as free pizza dinners on Fridays for a year or Super Bowl tickets. Murrysville, 2021 Qtr 1.

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Realtor

JULY 13, 2021

year over year, according to the Realtor.com June 2021 Housing Market Trends Report. Home inspection. A home inspection is the foundation on which all other real estate contingencies are built. In the inspection, a neutral expert assesses the home for roofing, plumbing, structural, electrical, and other major problems.

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Housing Wire

JULY 11, 2022

The Ernst Fee Service is used by lenders to minimize fee cures by providing recording fees, transfer taxes, property tax, title, settlement, inspection data, and lender and appraisal fees. . trillion in 2021. Black Knight, which has agreed to be bought by rival ICE Mortgage Technology in a deal v alued at $13.1

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McKissock

NOVEMBER 23, 2021

Revolutionizing Home Inspection. With the goal of offering “more expansive and timely information” to promote “smooth transactions” and “confident homeownership,” the new product offerings from Pillar to Post include: PTP360 – An interactive visual inspection summary with a 360-degree view of every room. Cover Story. Policy News.

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

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Housing Wire

JULY 29, 2022

The dip in competition often allows homebuyers to make less risky offers that avoid waiving protections like home inspections and appraisal contingencies. percentage points from June 2021. At the same time, homebuyers are facing less competition as home inventory starts to bump up slightly. year-over-year decline.

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Housing Wire

JUNE 10, 2022

In 2016, New York passed a law establishing that lenders and servicers must inspect, secure and maintain zombie properties — which are defined as vacant and abandoned homes whose owners are behind on their mortgage payments. . from the same quarter in 2021. In 2019, then-Gov. from the prior quarter but down 6.3%

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Housing Wire

OCTOBER 28, 2021

In 2021, Floify’s software, which streamlines the loan origination process by allowing document sharing, and communication between LOs and real estate agents, has helped over 77,000 mortgage applications close each month, according to Porch. The acquisition cost Porch about $76.5

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Housing Wire

DECEMBER 8, 2022

In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks. Another appraisal innovation is Freddie Mac’s ACE+ PDR product (automated collateral evaluation plus property data report) solution, which involves an inspection-based waiver and has been in effect since July.

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Appraisal Buzz

APRIL 19, 2022

By serving as the “onsite eyes” of the appraiser, we are able to give them confidence in their valuation while also increasing their efficiency and volume by eliminating travel and inspection time.”. San Francisco, CA–Asteroom Inc. About Asteroom Inc.:

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Appraisal Buzz

AUGUST 25, 2021

NEW YORK / Aug 24, 2021 / – PropMix.io, the creator of the real estate valuation platform called Market Conditions Advisor (MCA), has rebranded the platform to better reflect its vision and capabilities. PropMix announces rebranding of MCA, its real estate valuation platform, changes name to Profet.ai.

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Appraisal Buzz

MAY 19, 2021

The best post could be the craziest DIY project you encountered on an inspection, the funniest appraiser joke or story (must be original), a conversation starter that gets people talking, a buzz cartoon relating to the industry, or just tell your favorite Buzz staff member what a great job they are doing. They could be worth a free ticket!

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Housing Wire

MARCH 21, 2022

In August 2021, the Consumer Financial Protection Bureau (CFPB) stipulated in its servicing guidelines that it was “fair game” for servicers to foreclosure a vacant property because it was better for the local community’s safety. .”

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Housing Wire

JUNE 9, 2022

Legacy renovation loans, which tend to have longer inspection periods and strict oversight of renovations, are not paid to borrowers in a lump sum, which can add a degree of difficulty when homeowners are ready to use the funds, according to Goldman. Presented by: Auction.com.

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Housing Wire

JANUARY 15, 2021

Porch, led by CEO Matt Ehrlichman, acquired home insurance company Homeowners of America , mover marketing and data firm V12 , home inspection company Palm-Tech and roofing contractor software company iRoofing. Porch raised its 2021 revenue outlook from $120 million to $170 million.

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Appraisal Buzz

OCTOBER 18, 2021

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. The problem with trainees in most GSE and agency (FHA, USDA, AND VA) related work is that trainees cannot inspect properties. Inspecting a home is a crucial part of what we do, but I am actually building better appraisers like this. Technology.

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Housing Wire

AUGUST 3, 2022

In 2021, operating as Class Valuation, the company acquired Pendo Management , and in February, it added Metro-West. Both are alternatives to the traditional appraisal, and potentially reduce the amount of time an appraiser spends driving to and performing an on-site inspection.

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