Fri.Apr 23, 2021

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Tug of war: low mortgage rates vs. lumber supply

Housing Wire

Today the Census Bureau reported that in March 2021, new home sales were at a seasonally adjusted annual rate of 1,021,000. This number beats estimates. Additionally, major positive revisions were made to the sales number of the previous months. I expect this month’s headline to be revised lower a tad next month, but even considering that, this report was the best new home sales report in over a decade.

Mortgage 535
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Tough Decisions: How Caregivers Can Help Elderly or Disabled Loved Ones in Decline

Cleveland Appraisal Blog

Hello everyone! I hope that you are doing good and hanging in there! Every now and then, I have a guest blogger that covers a topic that is not related to real estate. This is the case today. This week, my guest blogger is June Duncan. June reached out to me to see if I would be interested in having her write a piece for the Cleveland Appraisal Blog, on helping the elderly or disabled when they are in decline.

Appraisal 195
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Purchase market is poised to topple refi’s reign in 2021

Housing Wire

While 2021 likely won’t approach the record breaking tizzy of 2020, the housing market will continue to flourish on the strength of the purchase market, according to economists at the Mortgage Bankers Association. After last year’s record $3.83 trillion in mortgage originations, the MBA forecasts volume to fall 14% this year to $3.28 trillion, which would still be the third-highest total on record.

Marketing 466
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Q&A with Mike Wood, General Manager, Construction: The Digital Future of Construction

GoForrmz

General Manager, Construction, Mike Wood, discusses his new role at GoFormz and construction’s digital-centric future. From the job site to the halls of Procore HQ, Mike Wood has spent the last decade working within the construction industry. As Mike’s career evolved, so did construction’s relationship with digital solutions and technology. The construction industry has traditionally been resistant to digital adoption.

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Home prices soared in March amid record demand

Housing Wire

This is getting to be a problem. Home prices in the U.S. soared 18% year-over-year in March 2021 to a median of $356,000, according to a report Redfin released Friday that provided stark evidence of a housing market where demand greatly exceeds supply. Homes sold in March were on the market for 21 days, per the report, the shortest period between listing and sale since 2012.

Inventory 441
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April Newsletter-All Time Low Supply Creating Bidding Wars

DW Slater Company

Photo by nagaraju gajula from Pexels. It has certainly been an interesting and busy spring! We are still seeing impacts from the winter storm in February. Many are still having repairs done to their homes due to the massive amount of damage that occurred from frozen pipes. They are still gathering the death toll but it is currently at 111 deaths. Our hearts go out to those with great losses from this catastrophic event.

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Do Well by Doing Good: Dr. Joe Asamoah’s Tips for Success — In Any Economy

BiggerPockets

Dr. Joseph Asamoah arrived in the United States at age 24 with just $100 in his pocket. He's now one of D.C.'s most successful investors. Learn his secrets here.

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Youtube conversation

Yolo Solano Appraisal Blog

Thanks to Craig Jones for the conversation today.

Sellers 78
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Who qualifies for the $25K first-time homebuyer grant

Housing Wire

If recently-introduced first-time homebuyer legislation were to be enacted as written, about 4.37 million people – roughly 10% of the nation’s renters – could be eligible for up to $25,000 in downpayment assistance. Advocates of the policy say the program’s thoughtful targeting would allow it to reach those who need it the most, while industry experts told HousingWire that a complex, heavily means-tested program could create compliance pitfalls.

Buyers 541
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Rookie Podcast 72: Rookie Reply: Cash Out Refinances vs HELOCs | Which Should You Use?

BiggerPockets

This week’s question comes from Ricky on the Real Estate Rookie Facebook Group. Ricky is asking about the pros and cons of using a cash out refinance vs. using a […].

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New homes are selling like it’s 2006 again

Housing Wire

Low mortgage rates and incredible buyer demand won out over pressure from soaring lumber prices in March as single-family new home sales rose 20.7% from February to a 1.02 million seasonally adjusted annual rate, according to the Department of Housing and Urban Development and the U.S. Census Bureau. This is the fastest sales pace since September 2006.

Buyers 491
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Should I buy a house now? Will I even find anything that I like?

Cornerstone

Reading Time: 3 minutes. If you’ve already started the house hunt and have run into some hurdles, you’re not the only one. In a tight market like this, where so few homes are listed, it’s not unusual to begin wondering if you’ll ever find the right house. The National Association of REALTORS® (NAR) confirmed that the nationwide inventory of available houses recently fell to its all-time lowest point since NAR started measuring this metric nearly 40 years ago.

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What’s New in Appraisal Membership: April 2021

McKissock

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Do you already have an Unlimited Learning Membership ?