Housing Wire

JUNE 17, 2021

Median home-sale prices hit yet another record high in May — up to $377,200, a 26% increase year over year. And 54% of homes sold above their asking price in May — another a record high, up from 26% a year ago, according to a new report from Redfin. The report also shows the housing market also set new records for home-selling speeds and competition, although seasonally adjusted home sales and new listings flattened from April.

Housing Market 533

Housing Market New Listings Sellers Buyers 533

Appraisal Buzz

JUNE 17, 2021

Freddie Mac’s latest Primary Mortgage Market Survey (PMMS) shows that the 30-year fixed-rate mortgage (FRM) averaged 2.93 percent for the week ending June 17, down from 2.96 percent a week earlier. A year ago at this time, the 30-year FRM averaged 3.13 percent. The PMMS also shows that the 15-year fixed-rate mortgage averaged 2.24 percent with an average 0.6 point, up slightly from last week, when it averaged 2.23 percent.

Mortgage 370

Mortgage Appraisal Marketing 370

Housing Wire

JUNE 17, 2021

“These are the best of times,” declared Stuart Miller, chairman of the board for Lennar Thursday. And the homebuilder’s quarterly financial performance backs up what Miller is talking about. Lennar, best known for producing homes for the middle class, reported $831 million in net income for the months of March, April and May, a 61% increase from the same three months in 2020, which coincided with the pandemic’s onset.

Supply Chain 462

Supply Chain Construction Investing Business 462

Appraisal Buzz

JUNE 17, 2021

The Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) data for May 2021 shows that applications for new home purchases decreased 5.9 percent compared from a year ago. Compared to April 2021, applications decreased by 9 percent. “Mortgage applications to purchase a new home decreased in May for the second straight month, while the average loan size, at $384,000, increased for the fourth consecutive month and reached a new survey high,” says Joel Kan, The post MBA:

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Appraisal Mortgage 354

Housing Wire

JUNE 17, 2021

Phoenix, Austin, Sacramento, Las Vegas and Miami reported the biggest increase in home prices in May, according to a recent report from Redfin. Home prices in Austin were up 42.4% year over year in May to $470,000, the biggest increase of the 88 largest U.S. metros. Phoenix, with a 33.3% gain to $400,000, had the second-biggest annual price increase in the U.S., and Sacramento had the fifth-biggest increase.

Housing Market 446

Housing Market Real Estate Marketing Realtors 446

Appraisal Buzz

JUNE 17, 2021

RES.NET, a technology platform for loan default management, has released an enhanced version of its REO portal. The company says the new version has advanced features and functionality that provide a more intuitive user experience, as well as help users more effectively manage an existing client base while preparing for future growth. It also includes the ability to select task-based workflow, providing users additional flexibility and scalability of operations across any type of portfolio.

Clients 338

Clients Technology Appraisal 338

Sacramento Appraisal Blog

JUNE 17, 2021

Are you taking a vacation this year? It seems like half my Instagram feed is in Hawaii right now. I’m not doing anything that big, but I did get back yesterday from a few days in Santa Cruz and it was just what I needed. Here’s a video of me longboarding… I guess I’m about […].

Housing Market 335

Housing Market Marketing Real Estate Appraisal 335

Housing Wire

JUNE 17, 2021

Despite rising home prices and a supply crunch , the purchase market is still wildly hot. In light of that, HousingWire sat down with Peter Paglia, Chief Strategy Officer at HomeBinder, to discuss how to create a “Client for Life” in this environment. HousingWire: As the refi boom simmers down, why should lenders focus on creating clients for life?

Clients 389

Clients Real Estate Agent Marketing Real Estate 389

Appraisal Buzz

JUNE 17, 2021

In a month where the median sales price reached record highs, sellers continue to profit as buyers dig into the short housing inventory. The post More Than Half of Homes Selling Above Their List Price appeared first on DSNews. The post More Than Half of Homes Selling Above Their List Price appeared first on Appraisal Buzz.

Inventory 195

Inventory Sellers Buyers Appraisal 195

Housing Wire

JUNE 17, 2021

Stewart Title continues to tinker with its national footprint. The title giant recently combined its two Northern Nevada divisions – Legacy Division and Western Division. Legacy was previously Capital Title , and Western was formerly Western Title Company — the latter Nevada’s sixth-oldest company, which was acquired in a purchase of 57 title offices from ET Investments in September 2020.

Retail 395

Retail Investing Business Mortgage 395

Appraisal Buzz

JUNE 17, 2021

Continued elevated demand and the high cost of building materials are impacting mortgage applications for new homes for the second consecutive month. The post New Home Purchase Apps Dip in May appeared first on theMReport.com. The post New Home Purchase Apps Dip in May appeared first on Appraisal Buzz.

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Appraisal Mortgage 195

Eyes on Housing

JUNE 17, 2021

In the recent NAHB study, What Home Buyers Really Want, 2021 Edition, side-by-side double sinks and walk-in pantries ranked as the most popular of 30 listed kitchen features. This result is based on a comprehensive, nationwide survey of 3,247 recent and prospective home buyers conducted in the summer of 2020. Among other things, the survey asked recent and prospective buyers.

Buyers 180

Buyers 180

Appraisal Buzz

JUNE 17, 2021

Authors affirm that the government has “taken bold steps to prop up consumers and the economy,” but say more support will be necessary to ensure that households of all incomes and races benefit from the expanding economy. The post Housing Study Highlights Pandemic’s Disparate Impacts appeared first on DSNews. The post Housing Study Highlights Pandemic’s Disparate Impacts appeared first on Appraisal Buzz.

Government 195

Government Appraisal 195

Eyes on Housing

JUNE 17, 2021

Prices paid for goods used in residential construction ex-energy rose 3.6% in May (not seasonally adjusted) and have increased 16.5% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019.

Construction 175

Construction 175

Appraisal Buzz

JUNE 17, 2021

The state of the nation’s housing in 2021 includes tight supply, soaring home prices, and millions facing financial struggles, according to new research. The post Report Shows Increasing Insecurity for Low-Income Households appeared first on theMReport.com. The post Report Shows Increasing Insecurity for Low-Income Households appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Urban

JUNE 17, 2021

Asian households face discrimination that hinders their ability to become homeowners and build generational wealth.

Housing Market 146

Housing Market Marketing 146

Appraisal Buzz

JUNE 17, 2021

The big drop in activity suggests that investors may be worried that prices have simply gone up too high, say data analysts discussing a Q1 report. The post ‘Notable Downturn’ in Home Flips appeared first on DSNews. The post ‘Notable Downturn’ in Home Flips appeared first on Appraisal Buzz.

Investors 195

Investors Appraisal 195

Empire Appraisal Group

JUNE 17, 2021

Pandemic Homebuyers Are Happy With Their Homes. Source: Pandemic Homebuyers Are Happy With Their Homes – Realtor.com Economic Research. One-in-four recent homeowners purchased because of the pandemic. Majority of recent buyers bid at or above asking price. 70% of recent homebuyers feel good about purchasing decision. 75% of recent homebuyers are happy with their homes.

Buyers 78

Buyers Real Estate Inventory Marketing 78

Appraisal Buzz

JUNE 17, 2021

Freddie Mac has found that rates are on the slide for the second consecutive week, dipping below the 3% mark, with economists patiently awaiting the next move by the Fed. The post Mortgage Rates Trend Downward appeared first on theMReport.com. The post Mortgage Rates Trend Downward appeared first on Appraisal Buzz.

Mortgage 195

Mortgage Appraisal 195

BiggerPockets

JUNE 17, 2021

Understanding how your business makes money is imperative in helping it make more. Here, we dive into one of the most important aspects of real estate math: cash flow. Generating a positive cash flow requires an accurate rental property cash flow analysis.

Real Estate 80

Real Estate Business 80

Appraisal Buzz

JUNE 17, 2021

A recent DS News webinar addressed how servicers have handled the customer during the pandemic and what lies ahead as nearly two million Americans exit their forbearance plans. The post Servicers Prep for Post-Pandemic Rush appeared first on DSNews. The post Servicers Prep for Post-Pandemic Rush appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Mashvisor

JUNE 17, 2021

Top 5 Rental Properties This Week: June 13th-19th, 2021 In the twentieth episode of the Mashvisor Real Estate Podcast: Top 5 Rental Properties This Week Mike Richardson, the star of…

Real Estate 74

Real Estate 74

Appraisal Buzz

JUNE 17, 2021

The lack of homes available is still playing a factor in homebuyers’ decisions, as many are digging deeper into their pockets to land in the home of their dreams. The post Home Sellers Still in the Driver’s Seat appeared first on theMReport.com. The post Home Sellers Still in the Driver’s Seat appeared first on Appraisal Buzz.

Sellers 150

Sellers Appraisal 150

BiggerPockets

JUNE 17, 2021

With all the forums, articles, e-books, and other information available on BiggerPockets, there’s no doubt about the added value of this community. But did you know that BiggerPockets costs are […].

Finance 70

Finance 70

Appraisal Buzz

JUNE 17, 2021

U.S. Deputy Secretary of the Treasury Wally Adeyemo discusses the administration’s plans for housing during a time when affordability and accessibility have become a significant problem. The post Expanding the Nation’s Housing Supply appeared first on theMReport.com. The post Expanding the Nation’s Housing Supply appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Quicken Loans

JUNE 17, 2021

Paying for a house with cash has definite perks. Did you know that paying cash rather than getting a mortgage could help you win a bidding war when buying a new home? You may even be able to negotiate a lower price on the home if you’re paying cash. After all, cash in hand is a sure thing, and a mortgage approval isn’t always guaranteed. The good news is you can get the best of both worlds with delayed financing, a cash-out refinance option for recent cash buyers.

Finance 68

Finance Buyers Investing Real Estate 68

Appraisal Buzz

JUNE 17, 2021

Fannie Mae’s economists have revised a lot of their forecast from last month as new data has come in. The outlook for the 2021 GDP has been revised modestly to 7.1 percent from 7.0 percent on a Q4-over-Q4 basis. The revision was due to data indicating stronger second quarter growth in personal consumption which they expect was driven heavily by inventory restocking and will decelerate significantly in the second half of the year.

Inventory 150

Inventory Appraisal 150

Mashvisor

JUNE 17, 2021

Keeping up with the latest news in your local area and in the industry is a key part of your job as a real estate agent or a real estate…

Real Estate 74

Real Estate Real Estate Agent Agents Investors 74

Mortgagebroker News

JUNE 17, 2021

Weaker activity was observed in nearly 80% of all local markets last month

Marketing 73

Marketing 73

Quicken Loans

JUNE 17, 2021

The Federal Reserve in many ways chose to keep the pedal to the metal in its latest statement yesterday. It’s going to continue with its current set of measures to support the economy. However, that’s not to say officials won’t be ready to tap the brakes as necessary. Every few months, the Federal Reserve releases something often referred to by economic analysts as the “dot plot.

Development 39

Development Business Investing Mortgage 39

Mortgagebroker News

JUNE 17, 2021

The newly minted executive will be heading the company’s residential mortgage business

Business 44

Business Mortgage 44

Housing Wire

JUNE 17, 2021

Mortgage applications for new home purchases fell 9% month-over-month in May at a seasonally unadjusted pace ? the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Compared to May of last year, MBA’s Builder Application Survey (BAS) revealed purchases are down 5.9%.

Inventory 497

Inventory Construction Contracts Mortgage 497

Appraisal Buzz

JUNE 17, 2021

National mortgage lender and servicer Planet Home Lending has deployed Total Expert’s CRM and customer engagement platform to increase loan officer productivity, improve marketing and engagement efforts, and enhance customer experiences. Planet Home Lending will use the Total Experience platform to access a single, 360-degree view of customer profiles, anticipate the financial needs of each customer, and engage them with the right message at the right time.

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Lending Tools Loan Officers Appraisal 195

Appraiserblogs

JUNE 17, 2021

Appraisers, I have reached my boiling point about the negative press ‘we’ Independent Fee Appraisers have been receiving for many months – concerning supposed ‘systemic racial bias.’ It’s been done on purpose by a particular group of individuals whose main strategic objective is to keep many citizens teetering on their toes, always on the defensive, while the perpetrators claim they’ve been oppressed.

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Appraisal HOA Valuation 145