Mon.Mar 22, 2021

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How much cash matters in a bidding war

Housing Wire

When there’s a bidding war, cash is king. And a recent Redfin study confirmed that it’s the only sure-fire way to win that dream house in a market this crazy. Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021. And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of wi

Inventory 545
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Reason Why USPAP Was Extended

Appraiserblogs

What is the actual reason USPAP was extended without warning for an additional year? Don’t get me wrong. I am all for longer USPAP cycles or doing updates on an as-needed basis in an industry that changes very little. As I’ve mentioned before, Dave Bunton of TAF said during the ASB public call on February 19th that USPAP was extended another year because of COVID – yet that makes no sense.

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Existing home sales data: Look at year-over-year growth

Housing Wire

According to The National Association of Realtors, February’s existing home sales missed estimates , coming in at 6.2 million. Because February 2020 sales were strong, the year-over-year growth in sales for February 2021 is impressive at 9.1%. For the housing market, the COVID crisis started in earnest in March of 2020. The data for February 2020 showed that the housing market was set to outperform all other sectors.

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Real Estate Income Guide Now Available [Free Guide]

McKissock

Due to the overwhelming success of our inaugural Real Estate Agent Income Guide in 2018 and 2019, McKissock Learning is back with an all-new guide stuffed with the latest income statistics from licensed real estate professionals across the United States. In December of 2020, we reached out to thousands of licensed real estate agents and brokers to better understand the tactics and strategies used to drive income.

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Inside eXp Realty’s stunning growth

Housing Wire

Glenn Sanford cuts a modest figure. Nope, wait, eXp Realty ‘s Glenn Sanford isn’t cutting any real life figure at all. It’s annual report time, and Sanford, the CEO of eXp , is cataloging the company’s eye-popping growth onscreen as a cartoon avatar during a cloud-based earnings call that looks like Second Life or The Sims. Since Sanford found the company in 2008, most everything eXp (the name is because Sanford once looked in a dictionary and liked “exp” words – expert, expand, exponentia

Realty 424
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Freddie Mac loan closed on refinancing

Valuation Review

Lument has announced the closing of a $41.5 million Freddie Mac loan to refinance Hillcrest Country Estates Grand Lodge, an upscale senior living community in Papillion, Neb., according to a Freddie Mac. Read on to learn more.

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AppraisalVision grows its team

Valuation Review

The year 2021 is off to a fast start for AppraisalVision as the company begins its hiring spree for mortgage and appraisal professionals to keep up with their increasing number of client implementations. Read on for more information.

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Steady exits push forbearance volume down to 5.05%

Housing Wire

With just more than a week away from the one-year anniversary of the CARES Act, new forbearance requests dropped to their lowest level since March of 2020, pushing the total number of loans in forbearance down nine basis points to 5.05% of servicers’ portfolio volume, the Mortgage Bankers Association said on Monday. Alongside a dampening of requests, exits maintained a standard pace with over 100,000 homeowners having exited forbearance within the past month.

Lending 424
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CEO says bundling third-party reports beneficial in commercial real estate

Valuation Review

Commercial real estate firm BBG CEO Chris Roach spoke to Valuation Review about a main focus within the company that is important for appraisers. In his article, “CRE Due Diligence: The Benefits of Bundling Third-Party Reports,” Roach outlined key principles surrounding that focus. Read on to find out more of what he had to say.

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Leveraging the non-delegated channel to grow your business

Housing Wire

HousingWire recently sat down with AmeriHome Chief Operating Officer and Managing Director John Hedlund to discuss key growth opportunities in the non-delegated channel that lenders may be missing out on. HousingWire: What are some key growth opportunities lenders may be missing out on, and how can leveraging the non-delegated channel further growth for lenders?

Business 486
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Commercially speaking, real estate appraisers becoming ‘grayer’

Valuation Review

Studies continue to show the commercial real estate (CRE) appraisal business is a graying industry. Most CRE appraisers within the space are appraisal veterans who have been in the industry for decades and are apathetic toward new technologies, according to one company executive. Valuation Review spoke with Valcre founder and CEO Lucas Rotter, who explains this notion, and other business mindsets from our conversation.

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White-label brokerage Side achieves unicorn status

Housing Wire

San Francisco-based real estate brokerage Side announced Monday that they raised $150 million, ushering in a new phase for the four-year-old company. Coatue Management , a New York City-based investment manager, led the venture capital fundraising round. Prior to the $150 million raise, Side reported raising just $63 million from outside investors, the majority of which came from a funding round led by Sapphire Ventures , according to Crunchbase.

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Class Valuation discusses more appraisal policies, concerns

Valuation Review

Valuation Review sought more information from the Class Valuation team regarding the need for additional policies and controls to balance potential risks with efficiency benefits from appraisal modernization. The quality of data appraisers receive is still a concern. Read on for more insight from this AMC.

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Holden Page joins HW Media as Director of FinLedger

Housing Wire

Holden Page is joining HW Media as the new Director of FinLedger. Page will be responsible for leading both FinLedger’s editorial strategy as well as its suite of advertising products and premium content. . Page will work alongside HW Media COO Diego Sanchez to continue to grow FinLedger, the fintech-focused HW Media brand launched in August 2020. Page will also edit the FinLedger Daily newsletter , which provides focused coverage of the banktech, proptech, insurtech and payments verticals, incl

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6 Tech Tools That Make a Landlord’s Life Easier

BiggerPockets

No one said that being a landlord was easy. Of course, the idea of passive income from property investment is appealing. But managing properties is not a passive job. Apart […].

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Fannie Mae announces appointments

Valuation Review

Fannie Mae has appointed Simon Johnson and Christopher Brummer to its board of directors. Read on to learn more about these new additions.

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Effects of UWM’s broker policy could be very damaging

Housing Wire

This month, United Wholesale Mortgage took the industry by surprise when it made a statement that it would block mortgage brokers from doing business with the company if they did business with either Quicken Loans or Fairway Mortgage. With that announcement came a modification to the UWM-broker contract, making note of significant financial penalties for violating this new policy.

Retail 538
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Fruitful and Free in Florida, San(d)s COVID

Magnusson Group

One March Tuesday last year, as I drove home from work and heard that an apocalypse had arrived, I went directly to Wegman’s to buy Boursin cheese. Not really. I had gone grocery shopping two days earlier, but thought there must be something I have to buy to prepare for this odd event. Although we had fully stocked shelves back at home, I bought things I’ve never bought before.

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What is the Buyer’s Inspection Advisory? 

CA Realty Training

By Karen D. Friedman | 03.21.21. The Buyer’s Inspection Advisory (BIA) is a disclosure that is included with the Residential Purchase Agreement (RPA) when you make an offer on a home. Simply put, it is advising the buyer to have a professional inspect the property. Disclosures are designed to inform and protect the parties entering into an agreement.

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BiggerPockets Business Podcast 100: You Can’t Fear Failure: Scott Trench on the Evolution of BiggerPockets

BiggerPockets

How does a 27 year old become the CEO of a major online brand? Not only that, how does a 27 year old take an online brand, build upon it, […].

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Existing home sales dip 6.6% amid supply struggles

Housing Wire

Rising home prices, limited inventory and the uptick in mortgage rates continued to deter some homebuyers last month as sales of existing homes fell 6.6% in February to a seasonally-adjusted annual rate of 6.22 million, according to the National Association of Realtors. The median existing-home price for all housing types in February was $313,000, up 15.8% from Feb. 2020, as prices rose in every region.

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DocMagic, Secure Insight announce RON training program

Housing Wire

DocMagic and Secure Insight announced Friday the launch of a remote online notarization (RON) joint training program. The goal is to establish a trusted database of notaries who have been fully trained and certified on DocMagic’s Total eClose platform. DocMagic CEO Dominic Iannitti noted that lenders have a growing need to hire well-qualified eNotarization professionals to work with and ensure that deals close smoothly and on time. “Ultimately, this partnership creates a better RON proces

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Consumers more confident about making mortgage or rent

Housing Wire

Although many homeowners and renters continue to feel the economic pressure of the pandemic , they’re growing more confident that they can pay their rent or mortgage, according to the latest consumer confidence survey by Freddie Mac. The survey respondents, of which two-thirds are homeowners and one-third are renters, found that more than half of respondents in 2020 expressed concern about making payments, with a high of 71% reported in November.

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