Thu.Sep 02, 2021

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Mortgage rates stuck in a rut at 2.87%

Housing Wire

The average 30-year fixed-rate mortgage was flat at 2.87% for the week ending in Sept. 2, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates also held steady at 2.87%. This week’s near constant mortgage rates tracked with the 10-year Treasury yield , which has hovered around 1.30 for the past week.

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SimpleNexus Joins GSE-Approved eMortgage Providers

Appraisal Buzz

SimpleNexus, developer of the platform for loan officers, borrowers, real estate agents, and settlement agents, is now a Fannie Mae- and Freddie Mac-reviewed eClosing solution provider, the company announced in a press release. The designation affirms that SimpleNexus’ Nexus Closing eMortgage solution meets both GSEs’ technical requirements for eClosing, eNote and eVault functionality and has … The post SimpleNexus Joins GSE-Approved eMortgage Providers appeared first on DSNews

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iBuyer Offerpad goes public at $2.7B valuation

Housing Wire

Instant homebuyer Offerpad quietly became a publicly traded business Thursday, after it merged with a blank check company led by former Zillow CEO Spencer Rascoff one day earlier. Offerpad’s transition escalates the rivalry between Rascoff and his former company Zillow. It also nudges Offerpad from intriguing upstart to another business vying to move iBuying from dazzling concept to profit making enterprise.

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Construction Spending: Residential is Only Game in Town; Rates Barely Budge, But Tomorrow Could Be Different

Appraisal Buzz

The U.S. Census Bureau says July’s expenditures on all types of construction was at a seasonally adjusted rate of $1.569 trillion compared to $1.563 trillion in June. This is an increase of 0.3 percent and 9.0 percent higher than expenditures in July 2020. On a non-adjusted basis, total spending for the month was $144.046 billion, up from $141.545 billion the previous month.

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Lenders can use closing technology as a bargaining chip

Housing Wire

“By failing to prepare, you are preparing to fail.” While John Wooden was not the first to utter these sentiments, it became one of his more well-known mantras and undoubtedly the soundtrack to more than one of his 10 national championships. For Wooden and his teams, the preparations were made during the off-season, in practice, in the weight room, etc. to excel during the games and season.

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SimpleNexus Certifies as Fannie Mae, Freddie Mac eClosing Solution Provider

Appraisal Buzz

SimpleNexus , developer of the homeownership platform for loan officers, borrowers, real estate agents and settlement agents, is now a Fannie Mae- and Freddie Mac-reviewed eClosing solution provider. The designation affirms that SimpleNexus’ Nexus Closing eMortgage solution meets both GSEs’ technical requirements for eClosing, eNote and eVault functionality and has been tested for compatibility with the GSEs’ respective eNote delivery systems. eMortages are faster, offer improv

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Freddie Mac Report Shows Flat Mortgage Rates

Appraisal Buzz

Freddie Mac ’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 2.87%. “Economic growth and the acceleration in inflation have moderated in the last month, giving the markets comfort and leading to a stabilization in mortgage rates,” says Sam Khater, Freddie Mac’s chief economist. “Heading into the fall, home purchase demand is stable, home sales remain firm and above pre-pandemic levels, and inventory of unsold homes is tight but.

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HomeLight secures $363M to reimagine real estate

Housing Wire

Bay Area-based HomeLight , a proptech platform aimed at expediting and simplifying the real estate process, announced it has raised a combined total of $363 million in new funding. According to a Thursday release, the round was led by Zeev Ventures – the same VC to lead HomeLight’s $109 million Series C back in 2019. Zeev was also an initial investor in the proptech’s 2017 Series B.

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Prospective Buyers Find Promise in Low Rates and Uptick in Supply

Appraisal Buzz

Freddie Mac reports that rates are stabilizing, along with a modest improvement in the nation’s housing supply, as more homebuyers are poised to take advantage of these still-record-low rates. The post Prospective Buyers Find Promise in Low Rates and Uptick in Supply appeared first on theMReport.com. The post Prospective Buyers Find Promise in Low Rates and Uptick in Supply appeared first on Appraisal Buzz.

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Create Digital Forms for Free In The GoFormz Form Builder

GoForrmz

GoFormz is the easiest and fastest way to create digital forms No matter your industry, the modern workplace has turned to digital solutions to streamline and refine the way work gets done. As the businesses have evolved, so have their customers, who now expect modern, efficient services from their vendor or provider of choice. These expectations are problematic for businesses that have been slow to adopt digital solutions, as they struggle to keep pace with the speed, professionalism, and agili

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FHFA Extends REO-Buying Period for Non-Investors

Appraisal Buzz

In an effort to ease supply shortages, the agency added 10 days to its program that allows owner occupants an exclusive “first look” at distressed real estate. The post FHFA Extends REO-Buying Period for Non-Investors appeared first on DSNews. The post FHFA Extends REO-Buying Period for Non-Investors appeared first on Appraisal Buzz.

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7 Things to Do BEFORE Selling Your House

Raleigh Realty

Things You Should Be Doing When Selling Your Home Wondering what you should be doing to get your home ready to list for sale? Here are 7 things you should do before selling your house Are you considering selling your home, but maybe don’t know where to start? Should you hire a realtor or sell it on your own? What updates can you complete on your home to make it more marketable?

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Homespire Taps Stephanie Sailor to Lead Secondary Marketing Efforts

Appraisal Buzz

Fresh off being named the Inc. 5000 list of “America’s Fastest-Growing Private Companies,” Homespire Mortgage adds 20-year industry professional to help expand its footprint in the secondary market. The post Homespire Taps Stephanie Sailor to Lead Secondary Marketing Efforts appeared first on theMReport.com. The post Homespire Taps Stephanie Sailor to Lead Secondary Marketing Efforts appeared first on Appraisal Buzz.

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Build a 3D Home? Fla. a Prime Market to Click ‘Print’

Empire Appraisal Group

Build a 3D Home? Fla. a Prime Market to Click ‘Print’. Source: Build a 3D Home? Fla. a Prime Market to Click ‘Print’ | Florida Realtors. By Louis Archambault. 3D builders see Fla. as a prime market, and a home is currently under construction in Tallahassee. But the state’s building code doesn’t include 3D techniques yet. MIAMI – As building material prices spike to impact Florida’s new housing construction, a new form of construction looms as a potential avenue for ensuring homebuyers have acces

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Biggest Barriers to Homeownership

Appraisal Buzz

A poll shows almost 90% of consumers prefer owning over leasing, but almost half of renting respondents fear it will never happen—are their worries warranted? The post Biggest Barriers to Homeownership appeared first on DSNews. The post Biggest Barriers to Homeownership appeared first on Appraisal Buzz.

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Pandemic served as an ‘eye opener’ for all of us, veteran appraiser says

Valuation Review

Valuation Review spoke with Clear Capital Chief Appraiser John Brenan, a true veteran of the industry, for his thoughts on how appraisers came through the difficult times of 2020. Brenan also stressed that many technological changes have proven to be “game-changers” for appraisers. Read on for more of our conversation.

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No. 1 Homebuyer Hurdle

Appraisal Buzz

Elevated home prices have made the prospect of purchasing property for the first time especially daunting. Broadly speaking, that has not quelled Americans’ desire to become homeowners, shows a LendingTree survey, which reported 88% of consumers who responded to its poll said they would rather own their home than rent. That said, almost half of … The post No. 1 Homebuyer Hurdle appeared first on theMReport.com.

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Should You Diversify Your Portfolio With Housing Stocks?

BiggerPockets

Finding a good deal in the current real estate market can be pretty difficult. Prices are maxed out in most markets and sellers are getting bombarded by offers, many of […].

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Both Inventory and New Listings on the Rise in August

Appraisal Buzz

While the market continues to favor sellers, 432,000 newly listed homes hit the market in August, with once-hotly-contested bidding wars cooling to close out Q3. The post Both Inventory and New Listings on the Rise in August appeared first on DSNews. The post Both Inventory and New Listings on the Rise in August appeared first on Appraisal Buzz.

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AI adopts strategic plan

Valuation Review

The Appraisal Institute (AI) Board of Directors adopted a strategic plan at its Aug. 12-13 meeting in Orlando, Fla. The board’s planning process included input from AI professionals who responded to surveys regarding membership needs.

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More Homes for Sale in August

Appraisal Buzz

Housing inventory was strong in August, experiencing its highest share in volume in 21 months according to Realtor.com. The post More Homes for Sale in August appeared first on theMReport.com. The post More Homes for Sale in August appeared first on Appraisal Buzz.

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Fannie: U.S. economy again limited by COVID, supply chain concerns

Valuation Review

The 2021 real GDP growth forecast was revised modestly downward, according to recent commentary by Fannie Mae. This is due in part to the expectation COVID-related disruptions to consumer spending and supply chains will more greatly hinder economic activity in the second half of the year than previously forecasted.

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Slow Increase in Pending Home Sales, Redfin Reports

Appraisal Buzz

Pending home sales rose 9%, the slowest growth since June 2020, according to a new report from Redfin. More home sellers have started slashing their prices, another sign of softening seasonal homebuyer demand. Still, prices remain elevated, up 15% from a year earlier. Additionally, the actual number of pending sales fell to the lowest level since April 2021. “The housing market has clearly become slightly more favorable to buyers,” says Redfin Chief Economist Daryl.

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Class Valuation names tech officer

Valuation Review

Class Valuation recently appointed Kaushal Shah to the company’s leadership team as chief technology officer. Shah is a global technology leader with more than 25 years of experience.

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BiggerPockets Money Podcast 228: Finance Friday: Is “Random Spending” Ruining Your Budget?

BiggerPockets

“Beware of little expenses; a small leak will sink a great ship.” This is the topic of today’s episode, where we interview Jenny for a Finance Friday review. Jenny is […].

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Zillow: Affordability squeeze is coming

Valuation Review

Housing affordability improvements brought on by historically low mortgage rates and dampened rent growth are quickly evaporating as housing costs rise faster than incomes, according to a new Zillow analysis. This report finds these affordability issues are expected to worsen by the end of the year and are likely to leave millions with housing cost burdens.

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Deanna Faucher Qualifies for 2021 Lamacchia Realty President’s Club

Lamacchia Realty

Announcing the newest member of the 2021 Lamacchia Realty President’s Club, Deanna Faucher ! She has had 33 sales ALREADY this year and that number will only continue to grow. Deanna has qualified every year since the program’s inception, making it in 2017 , 2018 , 2019 , and 2020. Earlier this year, she was recognized as a Lamacchia Realty 2020 top Producer and was recognized as an Emerald Level Top Producer by the REALTOR® Association of Central Massachusetts (RACM) for outstanding levels of

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Become the ‘go to’ appraiser in your area, industry vet says

Valuation Review

Valuation Review shares this month’s topic from Dustin Harris, “The Appraiser Coach,” dealing with what appraisers can do to be “that guy” everyone wants to seek out, from an appraisal standpoint. Sometimes, sacrifices need to be made for long-term success. Read on for more of Harris' thoughts.

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First-time buyers and the Edmonton edge

Mortgagebroker News

Executive on the factors that make the city an appealing option for new entrants to the market

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Fashion Forward Fall Auction- Ends October 5

Magnusson Group

Visit Sale View More Photos. The Magnusson’s are pleased to bring you “Fashion Forward Fall Auction” from a prominent New Jersey collector. This classic wardrobe features a wide variety of seasonal clothing and accessories by celebrated designers like Chanel, Prada, Louis Vuitton, St. John, Valentino, Armani, Escada and Via Spiga. As a courtesy to bidders, we will host two days of previews on October 4th and October 5th from 10am-3pm at our gallery in advance of the sale closing.

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Laurentian Bank releases fiscal Q3 results

Mortgagebroker News

Strong fundamentals made up for the bank’s weaker residential mortgage and personal loan businesses

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Morristown Online Clothing Auction- September 2021

Magnusson Group

Visit Sale View More Photos. More Details Coming Soon! The post Morristown Online Clothing Auction- September 2021 appeared first on Magnusson Group | Estate Sale | Personal Property Appraisal | NJ.

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Poll: Calgary prices drawing in millennials in droves

Mortgagebroker News

The share of millennial mortgage-holders in the city significantly outstrips the national average

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Mortgage Pre-approval: What It Is and Why It Matters

REX Real Estate

Do you know the first step you should take when you’re ready to buy…