Housing Wire
NOVEMBER 2, 2021
On Tuesday Zillow announced it will be shutting down its Offers business, which wasn’t too much of a shock considering how their stock had been performing for some time. The news was that they had been overpaying for homes and their losses on those purchases were getting larger and larger. Life being a publicly traded company can be fantastic or brutal at times.
The Appraiser Coach
NOVEMBER 2, 2021
As an appraiser, you’re a real estate professional and you are in the business of valuing property. Inevitably, at some point in your career, you’re going to make another real. Read More.
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Housing Wire
NOVEMBER 2, 2021
Zillow CEO Rich Barton announced Tuesday that his company is exiting the iBuying business , a mind-boggling about face that completely changes Zillow’s business model and will result in the loss of about 1,605 jobs. The wind-down of “Zillow Offers” is expected to last several quarters and will reduce the Seattle-based company’s workforce, reported at 6,420 employees as of June 30 , by 25%.
Appraisal Buzz
NOVEMBER 2, 2021
CoreLogic says that demand for homebuying remained strong through the end of summer. Along with the ongoing shortage of available homes, demand drove the annual price increase for September to 18 percent. Prices rose 1.1 percent compared to August. The company says record high prices are creating additional challenges for entry into the homebuying market. “High demand and low supply levels for entry-level homes, in particular, are sidelining many would-be first-time buyers.” Detached
Housing Wire
NOVEMBER 2, 2021
Franchise real estate brokerage Keller Williams announced Tuesday that it is partnering with educational and test prep services platform Kaplan to create the KW School of Real Estate (KSCORE). KSCORE is a fully-digital real estate training program that will offer state approved pre-licensing courses, as well as continuing education opportunities for existing agents.
Appraisal Buzz
NOVEMBER 2, 2021
A new report highlights the five major trends seen in California that may dictate the future of new real estate in the Golden State. The post Outlining the Future of California’s Real Estate Landscape appeared first on theMReport.com. The post Outlining the Future of California’s Real Estate Landscape appeared first on Appraisal Buzz.
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Appraisal Buzz
NOVEMBER 2, 2021
Utilizing proprietary data, Candor’s new offering assesses investor guideline eligibility, and mitigates loan defects to underwrite loans. The post Candor Introduces New Loan Scoring Engine appeared first on DSNews. The post Candor Introduces New Loan Scoring Engine appeared first on Appraisal Buzz.
Housing Wire
NOVEMBER 2, 2021
New York State on Monday approved the extension of the state Community Reinvestment Act ( CRA ) to non-depository lenders, a controversial rule that has received criticism as “unnecessary” and “discouraging” from the mortgage industry. Gov. Kathy Hochul approved the bill – S.5246-A/A.6247-A – 10 days after being delivered by the New York State Senate.
Appraisal Buzz
NOVEMBER 2, 2021
Zillow, a Seattle-based real estate and financial services company, has announced the closing of its iBuying division Zillow Offers effective immediately. The move represents a significant move away from one of its core means of revenue and the elimination of approximately 2,000 jobs after the program is completely wound down. Zillow Offers was a service to homeowners to sell without having to coordinate repairs or … The post Zillow to Close iBuying Division appeared first on theMReport.c
Housing Wire
NOVEMBER 2, 2021
Powerhouse lender/servicer New Residential Investment Corp. had an impressive third quarter, with reported earnings of $177.5 million from July to September, up 136% quarter-over-quarter. According to NRIC’s third quarter earnings released on Tuesday, the growth was spurred mainly by the REITs acquisition of mortgage lender Caliber Home Loans in August.
Appraisal Buzz
NOVEMBER 2, 2021
Non-QM lending offers potential for lenders who are open to exploring underserved borrower profiles, as Gary Eakin from Peoples Processing explores this option. The post Seizing Opportunities in an Evolving Mortgage Market appeared first on theMReport.com. The post Seizing Opportunities in an Evolving Mortgage Market appeared first on Appraisal Buzz.
Housing Wire
NOVEMBER 2, 2021
Investment firm Pretium has acquired the leading fix-and-flip lender Anchor Loans LP from affiliates of Wafra Capital Partners Inc. and other owners. The terms of the deal were not disclosed. California-based Anchor Loans, founded in 1998, provides capital for professional residential real-estate investors through bridge and construction products. To date, it has originated more than $10 billion – 95% of them to borrowers who have completed more than 40 projects, the company claims.
Appraisal Buzz
NOVEMBER 2, 2021
CoreLogic , a global property information, analytics and data-enabled solutions provider, has released the CoreLogic Home Price Index (HPI) and HPI Forecast for September 2021. Demand for homebuying remained strong through the end of the summer. However, the ongoing housing supply shortage has continued to drive up prices, which increased 18% year over year in September, to record highs creating additional challenges for entry into the homebuying market.
Eyes on Housing
NOVEMBER 2, 2021
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate was flat at 65.4% in the third quarter of 2021. Compared to prior reports, the data was affected less significantly by the pandemic, since in-person interviews were back in 99.5% of the sample. The national homeowner vacancy rate stayed at a record low of 0.9%, while the rental.
Appraisal Buzz
NOVEMBER 2, 2021
From labor shortages and supply-chain issues to an ongoing low-volume environment, high-level economic factors have challenged the property preservation sector like never before. Phil Britt examines how the industry is finding a way forward. The post The Domino Effect appeared first on DSNews. The post The Domino Effect appeared first on Appraisal Buzz.
Urban
NOVEMBER 2, 2021
Disparities in homeownership rates and home values limit the ability of households of color to both achieve homeownership and benefit from it.
Appraisal Buzz
NOVEMBER 2, 2021
During a time when many people are looking for permanently remote jobs in light of the ongoing pandemic, internal data from Redfin shows that 30.2% of Redfin users looked to move to a different metropolitan area in the third quarter of this year. The number of people looking to move to another metropolitan area has fallen for the last two quarters—from … The post 30% of Homebuyers Looked to Move Metros in 3Q appeared first on DSNews.
Appraiserblogs
NOVEMBER 2, 2021
Appraisers, I just received notice about the untimely death due to COVID-19 of a Tennessee appraiser, Stephen Forrester, while he and his wife and two young kids were on vacation in the Bahamas. Details are posted below. Please click here, and donate if you can. I just donated to this GoFundMe. If you can’t make a donation, it would be great if you could share the fundraiser via email to appraisers you know, and on social media, to help spread the word.
Appraisal Buzz
NOVEMBER 2, 2021
During a time when many people are looking for permanently remote jobs in light of the ongoing pandemic, internal data from Redfin shows that 30.2% of Redfin users looked to move to a different metropolitan area in the third quarter of this year. The number of people looking to move to another metropolitan area has fallen for the last two quarters—from … The post Is Remote Work Changing Migration Habits?
McKissock
NOVEMBER 2, 2021
If you are considering a career in real estate appraisal, you’re probably curious about appraiser salary and income potential. According to the Bureau of Labor Statistics, the median annual wage for all appraisal license levels was $58,650 in 2020—$16,700 more than the median annual wage for all occupations in the U.S. economy. Your actual earnings will vary based on your appraisal license level.
Appraisal Buzz
NOVEMBER 2, 2021
The nation’s housing supply remains a concern for first-time buyers being shut out of a market by accelerating price hikes. The post Tight Inventory Spurs 18% YoY Price Growth in September appeared first on DSNews. The post Tight Inventory Spurs 18% YoY Price Growth in September appeared first on Appraisal Buzz.
McKissock
NOVEMBER 2, 2021
From virtual home walk-throughs that shorten the buying process to the ability to predict your home’s value from your smartphone, A.I. is becoming increasingly more entwined with real estate. But does that mean real estate agents need to worry about artificial intelligence taking their jobs? The short answer: no. In fact, according to a recent article from CNBC , the advancement of artificial intelligence within the real estate industry may actually be a “game-changer” for real estate agents, to
Appraisal Buzz
NOVEMBER 2, 2021
CoreLogic reports that national home price growth hit 18% year-over-year in September, as major tech hubs continue to lead the way. The post Supply and Demand Instability Creating Barriers for Buyers appeared first on theMReport.com. The post Supply and Demand Instability Creating Barriers for Buyers appeared first on Appraisal Buzz.
BiggerPockets
NOVEMBER 2, 2021
Military members in the real estate community love to preach about how great the VA loans are for financing primary residences. They also love the fact that these primary residences […].
Appraisal Buzz
NOVEMBER 2, 2021
A new report by the Financial Stability Oversight Council has identified 30 specific recommendations that financial regulators can take to identify and address climate-related risks to the financial system. The post Examining Climate Risks and Financial Stability appeared first on DSNews. The post Examining Climate Risks and Financial Stability appeared first on Appraisal Buzz.
Mashvisor
NOVEMBER 2, 2021
With nearly 40 million residents, California is the most populous state in the US. This presents numerous potential opportunities for people who want to build thriving businesses and investment.
Berkshire Hathaway
NOVEMBER 2, 2021
There’s a lot of talk lately about how challenging it can be to find a home to buy in this current market. While housing inventory is still low, there are a few important things to understand about the amount of homes for sale on the market as we move into the end of the year. In the residential real estate market, trends generally follow a predictable and seasonal pattern.
Lamacchia Realty
NOVEMBER 2, 2021
BUYING OR SELLING A HOME WITH ASBESTOS? WHAT YOU NEED TO KNOW. If your home was built before 1980, it may contain some form of asbestos, which was used for purposes such as insulation for boilers and pipes or in siding or roofing materials for many years prior to 1980. Whether you’re planning on buying or selling , many homeowners worry that buyers won’t even look at a home that contains asbestos while some buyers worry whether they should risk purchasing a house with asbestos.
Mashvisor
NOVEMBER 2, 2021
Like unprocessed gold, foreclosed properties are unrefined. They’re, sometimes, hard-to-find, unattractive, and require extra work to close.
Mortgagebroker News
NOVEMBER 2, 2021
Some markets are already breaking away from the mad rush of feverish price growth, according to a new report
Berkshire Hathaway
NOVEMBER 2, 2021
1. Wire Shelving In the Garage. Wall-mounted shelves are one of the easiest small garage storage ideas. Maximize your garage storage space quickly and easily with simple and inexpensive shelves, baskets, and hooks. These garage storage racks will only take you one morning to set up. 2. Stack Bins Vertically To Save Floor Space. Plastic storage bings are one of the best storage systems to separate and organize your equipment by sport or season.
Mortgagebroker News
NOVEMBER 2, 2021
The central bank’s October announcement was one of its most significant this year
Clear Capital
NOVEMBER 2, 2021
Story by Navi Persaud for National Mortgage Professional. Clear Capital’s October 2021 Home Data Index reported that home price growth was at 5.3% on a quarter-over-quarter basis and close to 20% year-over-year. The West region was again the leader, with prices increasing 24.3% on a YOY basis. The strongest metropolitan statistical area (MSA) in the West was again, Phoenix, where prices rose 57%, reported Brent Nyitray of the Daily Tearsheet.
Mortgagebroker News
NOVEMBER 2, 2021
The current distribution has some crucial implications on the long-term prospects of the economy and the housing market, the bank says
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