Thu.Oct 21, 2021

Existing home sales crush the housing bears — again

Housing Wire

The National Association of Realtors ‘ existing home sales report for September came in at an excellent beat of estimates at 6.29 million. Now that we are just 10 days away from Halloween in 2021, we can all chuckle a bit at how wrong the housing bears of 2020-2021 have been.

Big Jump in Home Sales–Impressive Considering The Lack of Supply; Rates Rising Quickly

Appraisal Buzz

Existing home sales resumed an upward trajectory in September after dipping 2.0 percent in August. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhouses, condominiums, and cooperative apartments rose 7.0 percent in September, although this still left them 2.3 percent behind the pace in September 2020. Sales were at a seasonally adjusted annual level of 6.29 million units, compared to 5.88 million the previous month and 6.44 million a year.

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Mortgage rates climb to 3.09%

Housing Wire

The average 30-year-fixed rate mortgage climbed to 3.09% during the week ending Oct. 21, rising from 3.05% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.80%. Most economists believe they’ll continue to climb.

Existing-Home Sales Jumped 7 Percent in September

Appraisal Buzz

Boosted by an increase in inventory, existing-home sales jumped 7% in September compared with August to a seasonally adjusted annual rate of 6.29 million, according to the National Association of Realtors (NAR). However, existing-home sales were down 2.3% compared with September 2020.

AAG Survey: 92% of Seniors Want to Age in Place, Majority See the Home as ‘Most Valuable Asset’

Housing Wire

An overwhelming majority of surveyed seniors revealed that they would prefer to age in place in their current home, as opposed to moving into some kind of an assisted living facility.

Design 364

Home Supply to Demand Imbalance Continues

Appraisal Buzz

The pace of the housing market has accelerated up at a time when it typically slows, as 44% more homes are pending sales than at this time in 2019. The post Home Supply to Demand Imbalance Continues appeared first on DSNews.

Existing-home sales rebound in September

Housing Wire

Existing-home sales rose 7.0% in September after waning in August, according to a new report National Association of Realtors released Thursday. Despite this increase, sales of existing homes are still down 2.3% from a year ago.

Agents 355

More Trending

With $150M in new funding, Endpoint plans to expand

Housing Wire

Endpoint , a platform that provides buyers, sellers and agents with a completely digital way to close on properties, announced Tuesday that it has secured an additional $150 million in funding. The funding came from parent company First American Financial Corporation.

Roc360 Successfully Issues Three Securities Worth $200 Million

Appraisal Buzz

Roc Capital LLC (Roc360) has announced the closing of its first round of syndicated revolving securitization of residential transitional loans.

CFPB orders ‘Big Tech’ to turn over payment system plans

Housing Wire

The Consumer Financial Protection Bureau (CFPB) issued a series of orders Thursday that will require large tech companies to hand over information on their payments systems to better understand how these firms manage and access users personal data.

Mortgage Rates Rise to 3.09%

Appraisal Buzz

Fueled by the trajectory of both the economy and the pandemic, mortgage rates advanced upward this week; however, the housing market is expected to remain strong as 2021 comes to an end. The post Mortgage Rates Rise to 3.09% appeared first on theMReport.com.

Climate migration driving more buyers to Burlington, VT

Housing Wire

With stunning lake views, easy access to world class ski resorts, a pedestrian-friendly downtown bustling with shops and restaurants, and the vibrancy of a college town, Burlington, Vermont has long been a sought-after destination for homebuyers.

Buyers 329

Mortgage Rates Continue to Increase, Freddie Mac Reports

Appraisal Buzz

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.09%.

Rising rates, tax questions driving MSR sales surge

Housing Wire

An offering of Fannie Mae and Freddie Mac mortgage servicing rights (MSR) linked to a loan pool valued at nearly $2.2 billion is now being marketed by the Prestwick Mortgage Group on behalf of an undisclosed independent mortgage banker, according to a bid document obtained by HousingWire.

Sprout Unveils New Non-QM Offering

Appraisal Buzz

New AI-based iAnalyze joins a line designed to streamline loan processes for mortgage brokers and correspondents to meet the demands of non-QM financing. The post Sprout Unveils New Non-QM Offering appeared first on theMReport.com.

Design 195

FHLBanks under pressure to invest more in affordable housing

Housing Wire

The nation’s network of Federal Home Loan Banks (FHLBanks ) expects to be required to increase its share of investments in affordable housing. The push will come from the Congress, where the COVID-19 pandemic rekindled discussions about a program established in the 1990s.

Distressed Sales Represent Less Than 1% of the Market

Appraisal Buzz

Sales of already-built existing homes increased in September in each of the four major regions monitored by the National Association of Realtors (NAR).

Obstacles to tech adoption & the question of appraisal bias

Housing Wire

During a panel on residential appraisals, experts posed technology as a way to make appraisals more efficient and less subjective, as regulators take steps to understand and counteract bias. But tech adoption in appraisal might face an uphill climb.

September Existing Home Sales, Median Home Price Both Increased

Appraisal Buzz

Sales of already-built existing homes increased in September in each of the four major regions monitored by the National Association of Realtors (NAR).

Existing Home Sales Surge in September while First-time Buyers are Priced Out

Eyes on Housing

As inventory improved in recent months, existing home sales surged to 8-month high in September, according to the National Association of Realtors (NAR).

Buyers 133

Real Estate Investors Getting More Bang for Their Buck

Appraisal Buzz

Investors are buying up more real estate and paying less for it, as a new report finds investors now account for 15% of all residential property purchases. The post Real Estate Investors Getting More Bang for Their Buck appeared first on DSNews.

Desktop Appraisals Soon to Be the New Purchase Wrinkle

Appraiserblogs

The desktop appraisals are not necessarily more reliable, which could become an adverse issue for appraisers in the future… Appraisers, we learned about this late on Monday, Oct. 18, 2021: Sandra L.

Mortgage Cadence Debuts New Mortgage Cadence Platform for Mortgage Lenders

Appraisal Buzz

Mortgage Cadence , a subsidiary of Accenture, has unveiled their new Mortgage Cadence Platform (MCP) and announced the release of version 1.1 to help users throughout the mortgage lending life cycle across all channels and products.

Investor Invasion: Profit-Minded Home Buyers Flock to S. Fla.

Empire Appraisal Group

Investor Invasion: Profit-Minded Home Buyers Flock to S. Sky Noir Photography by Bill Dickinson. By Rebecca San Juan. Redfin: Home purchases by investors in Miami and Fort Lauderdale jumped over 90% in 2Q 2021 compared to 2Q 2020; the 2020 numbers were impacted by COVID-19.

Quebec housing market posts sluggish Q3 performance

Mortgagebroker News

Steadily falling inventory is discouraging sales activity, provincial real estate board says

The Professional Guide to Efficient Property Management

Mashvisor

A property manager, also known as an estate manager, is an individual or a property management company paid to take care of a real estate property on behalf of the… Investor Blogs Property Management property management

Commercial mortgages – why the resurgence continues

Mortgagebroker News

A prominent CEO in the space said the sphere is witnessing a number of encouraging trends

BiggerPockets Money Podcast 242: Finance Follow-Ups: Short-Term Rentals, Safety Reserves, & More Cash Flow

BiggerPockets

A few weeks ago, Mindy was asked by a listener of BiggerPockets Money, “when are you going to do a Finance Friday follow-up?” Well, listener, your wish has come true! […]. BiggerPockets Money Podcast

Uninsured property purchases drove 2021 mortgage originations – CMHC

Mortgagebroker News

Uninsured new mortgage credit saw double-digit annual increases in volume and value

How to Invest in Airbnb as a Beginner?

Mashvisor

The real estate rental strategy is one of the most reliable ways of making passive income. But it’s a long-term investment strategy that requires more work. However, if you’re an… Beginner Investors Investor Blogs Airbnb Airbnb Regulations Property Finder Return on Investment

Finding the Correct Listing Agent

Eppraisal

Listing your home for sale can be a lot less stressful and a very positive experience if you use the right listing agent. Your listing agent's first priority should be to get you the highest home value, in the least amount of time and with the least amount of stress.

Climate Change and Its Impact on Real Estate Investing

Willowbrook Valuation

Industries across the world are in the midst of planning for climate change and reacting to its effects. It’s clear that climate change has implications that extend well beyond the average temperature of the earth.

How to Use SUMIF In Commercial Real Estate Analysis

Property Metrics

When working with a commercial real estate data set, there are occasions where it is necessary to create a sum for a range of values, but only if they meet certain criteria. Fortunately, there is an easy way to accomplish this task using a built in Microsoft Excel function known as “SUMIF.”