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Why fewer homes are taking a price cut, even while inventory rises

Housing Wire

So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data. Here is a look at last week: Weekly inventory change (Feb.

Inventory 517
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Housing Market Tracker: Banking crisis is a new variable

Housing Wire

The housing market was crazy again last week. Here’s a quick rundown of the last week: The 10-year yield had a roller-coaster week, and so did mortgage rates, but the 10-year yield held its critical line, and mortgage rates ended at 6.55%. New listing data collapsed, but we are putting an asterisk on that data line for this week.

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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

Freddie Mac’s Bulletin, announcing the new policy, states: “Freddie Mac, in collaboration with Fannie Mae and HUD, is implementing requirements related to reconsideration of value (ROV) that promote consistency when a perceived appraisal issue and/or appraisal deficiency exists. have been amended to reflect HUD’s new ROV policy.

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Data Collectors: Appraisers vs. Uber Drivers

Appraisal Today

Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. This is the future of GSE using appraisers.

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Appraisal Risk, Reviews, and Revisions

Appraisal Today

Appraisal Risk, Reviews, and Revisions. Today, while there still remains some stickiness to the QC revision process, a recent survey completed by The STRATMOR Group commissioned by appraisal management technology company Reggora, indicates 25% of appraisal reports require some form of revision. What Causes Appraisal Revisions?

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What level appraiser are you?

Appraisal Today

I am writing two long articles for the November issue about Hybrid Desktops and Property Data Collectors. Both positive and negative sides for appraisers. How to Level Up as an Appraiser By Conrad Meertins Jr. Excerpts: The key is not the letters but the competency or skill. You might answer, “Absolutely!” Are your legs shaking?

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How to Reduce Appraisal Revision Requests

Appraisal Today

How to Reduce Appraisal Revision Requests. By Clear Capital November 14, 2022. Excerpts: To cut down on appraisal revision requests, it is important to keep these best practices in mind: Communicate in a timely manner. In some cases, appraisers provide lengthy boilerplate commentary in an attempt to avoid a revision request.