Mon.Apr 26, 2021

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Home sale prices reach record highs — again

Housing Wire

The effects of low housing inventory continue to cause significant ripples in the housing market, as a recent Redfin report shows home sale prices across the country have reached an average of $344,625 — an all-time high, and an 18% increase year over year. That’s well above the average home sale prices in Redfin’s March report , at the time a record high of $331,590.

Sellers 446
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5 Ways Digital Forms Can Improve Your Field Service Workflow

GoForrmz

Easily optimize your field service workflows with digital forms and fully functional offline data capture When working in the field service industry, teams are often fractured across a variety of office locations, job sites, or remote mobile teams, making it difficult to improve collaboration and communication. These obstacles are often exacerbated by frustrating manual tools, like paper forms, printing, and record-keeping supplies, and the cumbersome workflows that accompany them, including: Pr

Tools 78
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Fraud risk factors at closing increased almost 90% last quarter

Housing Wire

As housing professionals navigate regulatory changes and accelerated tech adoption, wire and title fraud risk factors in mortgage and real estate closings increased almost 90% in the last quarter. According to an analysis by MISMO-certified wire and title fraud prevention Fintech FundingShield, wire and title fraud risk factors in mortgage and real estate closings saw an increase of 87.79% overall across all transaction types in Q1 2021.

Insurance 438
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Nations Lending continues to build its team

Valuation Review

Nations Lending continued to add to its leadership team with the recent hiring of Randy Koerner, who will play a direct role in building sales as well as supporting the company’s branch development and sales growth. Read on to learn more.

Lending 78
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Biden’s $15K first-time homebuyer tax credit now a bill

Housing Wire

President Joe Biden called for a first-time homebuyer $15,000 tax credit , and Congress has answered his call. United States Rep. Earl Blumenauer (D-OR) and Rep. Jimmy Panetta (D-CA) today introduced the new legislation, dubbed the “First-Time Homebuyer Act.” The bill would provide a tax credit for first-time homebuyers of up to 10% of the purchase price, or $15,000.

Buyers 418
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Ritchie Bros. collaborating with Rouse Appraisal Services

Valuation Review

For decades, both Ritchie Bros. and Rouse Appraisal Services have been serving the equipment and truck industries with their respective appraisal businesses. With Ritchie Bros.’ acquisition of Rouse last year, the company has now combined these two appraisal businesses into one team with hands-on equipment experience, knowledge, and data. Read on to learn more.

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Veros: Home prices to increase by first quarter of 2022

Valuation Review

Veros Real Estate Solutions released its Q1 2021 VeroFORECASTSM data that predicts home price appreciation will increase significantly during the next 12 months in the 100 most-populated markets. Veros’ data science predicts home value based on analysis of the fundamentals and interrelationships of numerous economic, social and geographic variables as they pertain to home value.

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As exits slow, forbearance trickles down to 4.49%

Housing Wire

The total number of servicers’ loans in forbearance has dropped for two months , however, forbearance portfolio volume fell just one basis point last week to an average of 4.49%, according to the Mortgage Bankers Association. Last week’s drop paled in comparison to the 40 basis point decline the previous two weeks had seen, and was likely the result of some investor categories remaining unchanged from the week prior, while others fluctuated.

Investors 370
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Company CEO advises seeking mentors during pandemic

Valuation Review

Usana Health Sciences CEO Kevin Guest reached out to Valuation Review to discuss the importance of identifying a mentor for perspective and guidance during these difficult times pertaining to the pandemic. Mentoring has been noted as key in appraising, and Guest shares that notion. Read on for more of what he had to say.

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Compass acquisition could worry some California agents

Housing Wire

Compass announced Monday that it has reached an agreement to buy San Francisco-based real estate transaction platform Glide , a deal that some California real estate agents may feel uneasy about. The buy is Compass’s first since the residential brokerage started publicly trading shares earlier this month. Glide, which was founded in 2017, provides tools like eSignature and the digitization of sales processing forms.

Agents 381
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GLA, automated sketch technology a game changer for appraisers

Valuation Review

What will automated sketch and digital GLA technologies unlock for appraisers? Valuation Review went back to Clear Capital’s Innovation Labs Executive Vice President Jeff Allen, who addressed that question, and others in a follow up conversation. Read on to learn all that Allen shared with us.

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Title tech company Cloudstar names new president

Housing Wire

Cloudstar , a technology and compliance partner for the title and mortgage origination industry, has shaken up its current executive team with the recent promotion of Christopher Cury to president. It’s the third major personnel move by Cloudstar this year, which named Nancy Allen as director of title services back in January and Roland DuBeau as president of MortgagePhish , a subsidiary of Cloudstar, in March.

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Driving for Dollars: 5 Tips to Easily Find Off-Market Distressed Properties

BiggerPockets

Getting in your car and driving is one of the quickest ways to identify lucrative real estate opportunities. Learn how to "drive for dollars" here.

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HUD and HHS must work together on affordable housing

Housing Wire

The COVID-19 crisis has taught us that health is not an isolated factor, but instead has huge ripple effects on our economy, on homelessness, on hunger and a host of other human factors. As the heads respectively of a major public health care provider and a major nonprofit affordable housing developer, we recognize the synergies between health and housing.

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What is Fee Simple Ownership?

CA Realty Training

By Karen D. Friedman | 04.26.21. There are lots of ways you can hold property ownership. . Some ownership types impose conditions or restrictions that don’t allow the homeowner to fully exercise their “bundle of rights”. . The term “fee simple ownership” refers to one’s complete right and legal privileges over a real estate property. This means that there are no restrictions placed on the property and its use.

Tenants 63
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Knight Barry Title acquires Florida’s MLS Title

Housing Wire

Wisconsin-based Knight Barry Title has announced its acquisition of MLS Title , located in Fort Myers, Florida. The company now owns 12 companies in the Sunshine State. MLS Title, owned by Susan Malach, opened in 2004. “Bringing Susan’s great team on board serves two purposes for us — more convenience for our already loyal local customers and the opportunity to keep building the KBT brand,” said Craig Haskins, Knight Barry Title chief operating officer.

Business 284
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How Much Has Real Estate Appreciated in 20 Years?

BiggerPockets

Today's real estate market may appear irrationally hot. But these charts make it clear how powerful property investment can be over the long term.

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Mortgage originator hires long-time Fannie Mae staff member

Valuation Review

Homepoint announced the appointment of Noelle Lipscomb as the company's chief audit executive. Read on to find out more information.

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Does Your Appraisal Data Include Racial Bias?

Clear Capital

Story by Appraisal Buzz Staff. Racial bias has been a hot button issue within the past year in the appraisal industry. We have all heard about racial bias, but are you aware if it is in your own data? Is it possible your data is biased and you don’t know it? We will be hosting a webinar on April 27th at 1 pm, “Does Your Appraisal Data Include Racial Bias?

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New York Community Bank to acquire Flagstar

Housing Wire

New York Community Bank , one of New York City’s largest multifamily lenders, is set to diversify its business strategy with the acquisition of Michigan-based retail bank Flagstar Bancorp. in an all-stock merger valued at $2.6 billion, the companies said Monday. The announcement comes just a few months after Thomas Cangemi took over as CEO at slumping NYCB and vowed to shake things up with an acquisition.

Retail 381
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DOLLAR STORES MARKET TRENDS

Simonson Real Estate

Anyone who knows an appraiser recognizes the dynamics of being ‘data rich’ and ‘data wise’ Collecting and compiling ‘true comparable’ data allows us to dive deeper and to identify market trends to a greater degree. This month, we share insights, Simonson Appraisals authored charts, and graphs specific to the current Dollar Store net lease market.