Tue.Oct 26, 2021

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Inside Zillow’s misadventures in iBuying

Housing Wire

Zillow CEO Rich Barton. Antonio Pellegrini was stunned. In May the real estate agent listed a two-bedroom home in Fountain Hills, Arizona, 30 miles north of Phoenix, for $342,000. After 25 days on the market, there were no takers for the 1,400-square-foot home and Pellegrini counseled his client about potentially lowering the listing price. Then Zillow came along.

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U.S. Home Prices Were Up Nearly 20 Percent Year-Over-Year in August

Appraisal Buzz

U.S. home prices increased 1.4% on an adjusted basis during August compared with July and were up 19.8% compared with August 2020, according to the S&P CoreLogic Case-Shiller home price index. The index’s 10-city and 20-city composites – measuring home price growth in the largest U.S. cities – posted monthly adjusted increases of 0.9% and 1.2%, respectively.

Appraisal 195
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Home price growth remained at record pace in August

Housing Wire

After four consecutive months of record growth, annual home price growth remained steady from July to August, according to the latest S&P CoreLogic Case-Shiller National Home Price Index report released Tuesday. The index showed a 19.8% annual gain for the year ending in August 2021, remaining the same as the previous month. This remains the highest annual rate of price growth since the index began in 1987.

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New Home Sales Jumped 14 Percent in September as Demand Outstrips Supply

Appraisal Buzz

New home sales were at a seasonally adjusted annual rate of 800,000 in September, an increase of 14.0% compared with a revised 702,000 in August but down 17.6% compared with 971,000 in September 2020, according to estimates from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. The median sales price of a new home sold in September was $408,800.

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Digital mortgage platform Maxwell raises another $52.5M

Housing Wire

Seven months after a $16 million Series B round, digital mortgage platform Maxwell has raised $52.5 million in additional funding, the company said on Tuesday. The latest round was led by Fin VC , the venture capital firm that also led the Series B capital raise. Existing investors TTV Capital , Prudence , and Rotor Capita l participated in the round, as well as Wells Fargo Strategic Capital.

Mortgage 381
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More People Starting Their Homeowning Journey Online

Appraisal Buzz

The COVID-19 pandemic shifted the process on how people buy and sell homes. Meetings with agents were held over video chat—showings did the same—while some adopted digital closings to limit the spread of the virus. But as the pandemic begins to wane, new research from RE/MAX LLC, shows that some of the new trends the market has seen in the last 18 months are … The post More People Starting Their Homeowning Journey Online appeared first on DSNews.

Agents 195

More Trending

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When It Comes to Homebuying, There’s a Digital Generation Gap

Appraisal Buzz

The COVID-19 pandemic shifted the process on how people buy and sell homes. Meetings with agents were held over video chat—showings did the same—while some adopted digital closings to limit the spread of the virus. But as the pandemic begins to wane, new research from RE/MAX LLC, shows that some of the new trends the market has seen in the last 18 months are … The post When It Comes to Homebuying, There’s a Digital Generation Gap appeared first on theMReport.com.

Agents 195
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HousingWire Annual Demo: Snapdocs

Housing Wire

Closing Quality Control. Snapdocs is demonstrating a major milestone on the closing journey: Closing Quality Control. This new functionality automatically organizes all post closing documents into their appropriate folders in your LOS, and will ultimately resolve any missing documents, signatures & more. Product Fast Facts. #1. Borrowers enjoy a fast and convenient closing.

Agents 366
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Rich Harkwell Joins Waterstone Mortgage as Chief Sales Officer

Appraisal Buzz

Focusing on long-term sales goals, 30-year industry vet joins Waterstone to work alongside sales and senior leadership teams to oversee the strategic sales growth of the company. The post Rich Harkwell Joins Waterstone Mortgage as Chief Sales Officer appeared first on theMReport.com. The post Rich Harkwell Joins Waterstone Mortgage as Chief Sales Officer appeared first on Appraisal Buzz.

Mortgage 195
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Is your LOS dated? Here are three ways to tell

Housing Wire

What does it take to deliver a next-generation LOS platform? You can’t just roll out the next iteration of the system; you have to deliver a truly new software platform. In this article, you will learn about the goals your LOS should help you reach, as well as discover three ways to tell whether the LOS you’re using today is next generation or not. The most critical goals of the lender’s LOS.

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Pet-Friendly Features Can Help Sell A Home Faster

Appraisal Buzz

New data from Zillow, a Seattle-based real-estate company, found that the COVID-19 pandemic pushed more people to adopt pets during the lockdown, and that decision is now driving owners to purchase properties with their pets in mind. Zillow’s 2021 Consumer Housing Trends Report finds nearly three-quarters of home buyers report having at least one pet at home (73%), a big jump from … The post Pet-Friendly Features Can Help Sell A Home Faster appeared first on theMReport.com.

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Lawsuits, red tape & interest rates: Do mortgage JVs have staying power?

Housing Wire

This is part two of a two-part series on joint ventures in the housing industry. To read the first part of this series, go here. On a sunny, serene fall afternoon, the Chicago neighborhood of Ravenswood featured quiet socializing on outdoor brewery patios, cyclists of all ages, and, hidden alongside the elevated train tracks, the headquarters of mortgage lender Guaranteed Rate.

Mortgage 375
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Sometimes “No” Is Okay

Appraisal Buzz

Fear might be a good motivator, but it is a poor problem solver. Over the years, I’ve had to learn how to not be afraid of my clients. That is, … Read More. The post Sometimes “No” Is Okay appeared first on Appraisal Buzz.

Clients 195
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What Microsoft’s new cloud platform means for mortgage

Housing Wire

Bill Borden, corporate vice president of worldwide financial services at Microsoft. Tech giant Microsoft plans to launch a new cloud-computing offering targeting the financial-services market on Nov. 1 as part of an effort to further bolster its fast-expanding cloud business. The secondary market may want to take note. The Microsoft Cloud for Financial Services has been operating in a preview mode since March, with lenders like Navy Federal Credit Union and Virgin Money UK among the first financ

Mortgage 371
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Inventory of Existing Home Listings Continues to Fall Short

Appraisal Buzz

More Americans are seeking homes in a market where short supply continues to be tagged with high ticket prices as potential buyers continue their migration from urban apartments to suburban homes. The post Inventory of Existing Home Listings Continues to Fall Short appeared first on DSNews. The post Inventory of Existing Home Listings Continues to Fall Short appeared first on Appraisal Buzz.

Inventory 195
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A second reverse lender is targeting Gen X with private-label products

Housing Wire

Leading reverse mortgage lender Finance of America Reverse (FAR) has lowered the minimum qualifying age for its “HomeSafe” suite of proprietary reverse mortgage products to 55 in the majority of the states in which the suite is available, Reverse Mortgage Daily has learned. This makes FAR the second major reverse mortgage lender in the nation to lower the minimum age requirement on its proprietary, non-agency products.

Finance 351
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Annual Home Price Gains Remained High in August

Appraisal Buzz

Housing demand has held strong, as buyers continue to pay above asking prices in a market stifled by tight inventory and a deceleration in construction due to supply chain concerns. The post Annual Home Price Gains Remained High in August appeared first on theMReport.com. The post Annual Home Price Gains Remained High in August appeared first on Appraisal Buzz.

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HousingWire Annual Demo: Evocalize

Housing Wire

Collaborative Marketing Platform. Evocalize’s technology makes it simple for corporate teams and technology platforms to unlock the power of sophisticated digital marketing for loan officers, brokers and real estate agents. Enable loan officers and agents to drive leads and revenue with easily customizable, automated programs built on best practices and data.

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5 Helpful Resources for Appraisal Trainees

Appraisal Buzz

Are you an aspiring appraiser or licensed appraisal trainee? As you embark on your new career, you’ll find there’s a lot to learn about the ins and outs of the business. While starting out in the appraisal industry is relatively easy due to low startup costs, it does have its challenges for newcomers. To help you start off on the right foot in terms of technical knowledge as well as business know-how, here are.

Appraisal 195
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HousingWire Annual Demo: First American Docutech

Housing Wire

Solex® eClosing. At First American Docutech, we’ve reimagined the closing and settlement process. Our end-to-end eClosing solution was designed for borrowers, lenders, and settlement agents. We understand that increasing settlement agent adoption is key to the success of an eClosing strategy and now automatic settlement adoption is possible. From hybrid to full RON eNote eClosings, with First American, lenders can make every loan as “e” as it can be from application through post-closing.

Agents 284
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FHFA House Price Index Rose 18.5% from Last Year

Appraisal Buzz

House prices have increased nationwide in August, up 1% from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI). House prices rose 18.5% from August 2020 to August 2021. The previously reported 1.4% price change for July 2021 remained unchanged. For the nine census divisions, seasonally adjusted monthly house price changes from July 2021 to August 2021 ranged from -0.1% in the New England division to +1.9%.

Finance 195
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Sometimes “No” Is Okay

The Appraiser Coach

Fear might be a good motivator, but it is a poor problem solver. Over the years, I’ve had to learn how to not be afraid of my clients. That is, Read More.

Clients 195
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HousingWire Annual Demo: Capacity

Housing Wire

Capacity. Capacity is an AI-powered mortgage support automation platform that connects your entire tech stack to answer questions, automate repetitive support tasks, and build solutions to any business challenge. Capacity provides everything you need to support your borrowers, sellers, and support staff in one powerful platform. Product Fast Facts. #1. 24/7 automated support for borrowers, sellers and support staff . #2.

Sellers 267
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Fannie Mae Names Winner of Community Impact Pool of Non-Performing Loans

Appraisal Buzz

Fannie Mae has announced the winning bidder for its eighteenth Community Impact Pool (CIP) of non-performing loans. The transaction is expected to close on December 10, 2021. It includes approximately 140 loans totaling $44.6 million in unpaid principal balance (UPB). The loans are geographically focused in the New York area, and the winning bidder was Residential Credit Opportunities VI, LLC (AMIP).

Appraisal 195
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3 Ways Manufacturing Teams Are Leveraging GoFormz to Work More Efficiently

GoForrmz

Run a lean manufacturing organization with GoFormz digital forms and data capture Manufacturing requires an immense amount of information to flow between the field and office. To run a lean manufacturing organization, companies need to focus on how to maximize customer value while using fewer resources. Paper forms can cause project delays, errors in data, and an inability to effectively communicate between departments.

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Demand for Second Homes and Investment Properties Jumps in September

Appraisal Buzz

Bouncing back after a summer slowdown, the demand for second homes was up 60% from pre-pandemic levels in September, an uptick from July’s 40% increase, but still below March’s record growth. The post Demand for Second Homes and Investment Properties Jumps in September appeared first on DSNews. The post Demand for Second Homes and Investment Properties Jumps in September appeared first on Appraisal Buzz.

Investing 195
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5 Helpful Resources for Appraisal Trainees

McKissock

Are you an aspiring appraiser or licensed appraisal trainee? As you embark on your new career, you’ll find there’s a lot to learn about the ins and outs of the business. While starting out in the appraisal industry is relatively easy due to low startup costs, it does have its challenges for newcomers. To help you start off on the right foot in terms of technical knowledge as well as business know-how, here are several useful resources for appraisal trainees offered by McKissock Learn

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Solid Q3 Servicing Portfolio Powers Planet Financial

Appraisal Buzz

As the industry resets due to shrinking margins, Planet Financial’s momentum continued into the third quarter, posting strong growth in servicing, asset management and origination divisions. The post Solid Q3 Servicing Portfolio Powers Planet Financial appeared first on DSNews. The post Solid Q3 Servicing Portfolio Powers Planet Financial appeared first on Appraisal Buzz.

Appraisal 195
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Rookie Podcast 125: Using OnlyFans to Fund Ownership in Her First BRRRR w/ Brin Amberlee

BiggerPockets

You could say that Brin Amberlee isn’t a traditional real estate investor. She doesn’t have tons of experience with property management, construction, or investing, but she does have the will […].

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Why Buyers Shouldn't Waive Inspection Contingencies

Eppraisal

This year the real estate industry is experiencing a market frenzy with a colossal amount of buyers looking for homes. The inventory of homes available is historically low. According to an article on keepingcurrentmatters.com, "A normal market's inventory sits at 6 months. We're currently at 3.7 months." Add to that, interest rates are also low. When a house comes on the market, buyers flock to it.

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The Pros and Cons of Townhouse Investing

Mashvisor

Here is everything you need to know about the pros and cons of townhouse investing and how you can estimate its rental income.

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Confidence towards housing, economy steadily eroding – poll

Mortgagebroker News

The six-month streak of inflation exceeding the central bank’s target rate is fuelling fears and uncertainty

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An Investor’s Guide to Plumbing Inspection Costs

Mashvisor

If you have had a water leakage problem or a clogged toilet, you know that plumbing damage is not for the faint-hearted.

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First-time homebuyers and fixed rates

Mortgagebroker News

New entrants to the market are gravitating towards the security of fixed products