Appraisal Today

JANUARY 5, 2024

Five USPAP Myths Dispelled in 2024 USPAP By Daniel A. Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. Excerpts: 4 Bedrooms, 4.5 baths, 4,000 sq.ft.,

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Will Springer Realtor

SEPTEMBER 12, 2023

We’re just trapped in this equilibrium of low inventory, house prices not coming down, high mortgage rates and current owners who have a strong incentive to just sort of stay where they are and wait this out.” Inventory was little changed from July to August. months’ inventory, down from 1.5 Condo inventory stayed at 1.8

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Finance Inventory Construction Buyers 68

Appraisal Today

FEBRUARY 9, 2024

NOTE: Please scroll down to read the other topics in this long blog post on E&O and state boards, bias, 32% sales are new homes, unusual homes, mortgage origination stats, etc. = Read on blog www.appraisaltoday.com/blog Posted by noon Friday. You can subscribe to the blog in the upper right of each blog page.

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Appraisal Today

FEBRUARY 16, 2024

In my city of 78,000 population, there are over 10,000 buildings constructed prior to 1930, including many classic Victorians. the price of the Naples compound was justified not only because of the size, location, and yacht basin, but also because it would be difficult to construct such a property again. acres of coastal land.

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Will Springer Realtor

MARCH 12, 2024

Months of inventory continue to be a burden on all buyers. months’ inventory, or 45 days before the existing supply would be exhausted if not replenished. Inventory is at 1.3 Because new home construction hasn’t kept up. There is 1.9 months’ supply of condos across King County, down significantly from 2.4

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Buyers Construction Sellers Inventory 57

Cornerstone

JUNE 1, 2021

.” Yun said this in response to the high homebuyer demand and rising housing prices we’re currently seeing — which he blamed simply on a shortage of inventory. Home prices are climbing because of record-low inventory levels that can’t meet the needs of today’s buyers. percent 2023: 4 percent 2024: 3.6

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Will Springer Realtor

JANUARY 9, 2024

The Federal Reserve recently updated its forecast, hinting at a potential decrease of about 75 basis points (0.75%) in its short-term lending rate by the year’s end – promising news for borrowers in 2024. I went into greater detail on this topic in a recent blog post.)In A blog post will be published on Jan.

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Appraisal Today

DECEMBER 15, 2023

Read on blog www.appraisaltoday.com/blog Posted by noon Friday. You can subscribe to the blog in the upper right of each blog page. Catered to real estate appraisers, agents, and other professionals, this monthly blog series helps you navigate the ever-evolving economic environment. percent the previous week.

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Appraisal Contracts Business Mortgage 77

Will Springer Realtor

MARCH 10, 2023

“The number of homeowners deciding to sell continues to lag, but inventory and time on market continue to [mostly] climb, reflecting still-hesitant buyers.” The structures have been topped out and construction cranes are coming down. The 20-story luxury condo Mari is under construction with a 2024 target opening.

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Construction Modernization Buyers Inspection 36

Will Springer Realtor

DECEMBER 12, 2023

We have enjoyed working with many of you this year and providing informative stories and features in this newsletter as well as on the Living the Dream blog and social media platforms. To a happy 2024! = Inventory continues to shrink to levels not seen since the days of disco, shag carpets and pet rocks. 19) at 10am PT.

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Real Estate Buyers Housing Market Law 36

Will Springer Realtor

NOVEMBER 14, 2023

Worsening affordability issues and lower-than-usual inventory have prompted many consumers to watch this housing market from the sidelines – without the picket lines. months of inventory available in the county, down from 2.0 Single-family inventory narrowed to 1.7 in 2024 and 4.5M Inventory of county condos rose to 2.5

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Inventory Buyers Sellers New Listings 36

Will Springer Realtor

JUNE 13, 2023

This means the negative YoY price decline – which is in a range of minus 7%-11%, depending on the submarket – will slowly return to positive territory, likely by early 2024. Despite high interest rates, some hungry buyers are competing over limited inventory. months’ total inventory in the county, down from 1.4 There are 1.3

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Buyers Inventory Construction Finance 36

Will Springer Realtor

APRIL 10, 2024

Climate-resilient housing, which is designed and constructed to withstand and adapt to the impacts of climate change, is increasingly recognized as a critical priority for our region. For more news on this topic, please visit my Living the Dream blog for an ongoing series to celebrate Earth Month. There must be something about Spire.

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Real Estate Buyers Sellers Insurance 36

Will Springer Realtor

AUGUST 15, 2023

Mortgage rates are high, home prices are high, there’s no inventory.” is on track to sell only 4.16M homes this year, the fewest since the Great Recession and the June inventory figure is believed to be the lowest for the month on record. The result: generally rising prices amid limited inventory. by the end of 2024.

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Sellers Buyers New Listings Inventory 60

Will Springer Realtor

MAY 13, 2024

Housing inventory nationwide flipped from oversupply to undersupply about a dozen years ago when consumers and the banking industry began to slowly rebound financially from the Great Recession. America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades. shy of the need.

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HOA Transportation Construction Buyers 36

Appraisal Today

SEPTEMBER 8, 2023

It’s been on and off the market since 2014, four years after a lengthy construction project there was completed. What Fannie Says About 3d Printed Homes in Announcement SEL-2023-08September 6, 20233D printed homes are an innovative building technique that brings efficiency and potential cost savings to new home construction.

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Appraisal Contracts Business Construction 80

Will Springer Realtor

NOVEMBER 10, 2023

The builder prepays the interest due to the mortgage company, which is typically a bank or credit union partnering with the construction company on the project. Proposition 1, starting in 2024, will tax property owners approximately 45 cents per $1,000 of assessed value. John Burns reports some builders are spending 6.5% in Redmond.

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HOA Buyers Law Supply Chain 36

Will Springer Realtor

AUGUST 11, 2023

First, let’s set the scene: Housing inventory is shrinking year to year in most parts of the country and there are no signs of significant replenishment over the horizon. Click to expand any image or graphic from my newsletters and blog posts.) It may take decades to backfill stock, which is said to be roughly 4.5M

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Buyers Development Construction New Listings 36

Will Springer Realtor

DECEMBER 14, 2021

Welcome to the fourth annual Living the Dream blog predictions and projections in real estate and beyond. There are too many consumers searching for homes and clearly not enough inventory, however that still means costs around goods, services and housing are going to inflate. this year nationally and 3.8% That’s after a drop of 3.8%

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Real Estate Buyers Construction Sellers 69

Appraisal Today

MAY 5, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Appraisal Institute President, non-lender appraisals, Changing state appraisal laws, Fannie modernization, unusual homes, mortgage origination stats, etc. To read more of this long blog post with many topics, click Read More Below!! == $4.9 in its widest point.

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Appraisal Today

JUNE 10, 2022

In past issues of the Analogue Blog, we have considered the “five forces of friction” on the advancement of appraisal. This blog considers how each friction will respond to this “excess” of appraisers. Construction started in 2001 and took three years to complete with two bedrooms, 2 bathrooms, and a swimming pool.

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Will Springer Realtor

MARCH 11, 2024

at the start of 2024 after increasing them by 8.7% Read a detailed assessment of our housing market in my most recent blog post: Seattle/King County Activity, Prices Show a Monthly Jump You may want to sit down before browsing this month’s map. Source ) Locally, Puget Sound Energy raised electric rates by 1.7% rise in 2022-2023.

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Insurance Sellers Real Estate Buyers 36

Will Springer Realtor

MAY 9, 2023

The council is seeking feedback from residents before the mandatory deadline to finalize its comprehensive plan hits on June 30, 2024, with changes enacted at the end of next year. Falling new inventory is constraining transaction volumes while also supporting higher home prices. They include Nexus , The Emerald , KODA and Spire.

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Real Estate Modernization Construction Supply Chain 36

Appraisal Today

OCTOBER 20, 2023

NOTE: Please scroll down to read the other topics in this long blog post Modular Homes Data Plates, ADU income, Pickleball courts and other interesting home improvements, , unusual homes, mortgage origination and more! Zillow 2024 Home Trends: What’s a Pickleball Court Worth, Anyway? Or hit the reply button. The ARM share was 9.3

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Appraisal Design Contracts Inspection 71

Will Springer Realtor

MAY 12, 2021

Roughly 20 million Millennials will be entering their 30s, typically the time they purchase their first home, between now and 2024. I don’t usually tout the work on my Living the Dream blog except for a brief mention at the bottom of each newsletter in the “In case you missed it …” section. million individuals annually. million units.

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Real Estate Inventory Buyers Construction 36

Will Springer Realtor

OCTOBER 11, 2022

Mark Zandi, chief economist at Moody’s Analytics, is far more bearish, predicting prices will fall about 10% nationally over the next 12-18 months if the country avoids a recession (which is unlikely) and drop roughly 20% by 2024 if the U.S. months’ inventory for all homes on the market and in the single-family category. last month.

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Appraisal Today

MAY 19, 2023

NOTE: Please scroll down to read the other topics in this long blog post on hybrid appraisals, business tips, UAD info from Freddie, Fannie modernization, non-lender appraisals, unusual homes, mortgage origination stats, etc. = They used materials from all over the world to furnish it.

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