Mon.Oct 10, 2022

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Advice for Buyers & Sellers in Today’s Market

Sacramento Appraisal Blog

The housing market has shifted, and today I have some practical advice for buyers and sellers. This is coming from hundreds of conversations every month as well as stats I'm pulling. Some new memes too. Enjoy if you wish.

Sellers 878
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Homebuyers are extremely pessimistic about the housing market

Housing Wire

Despite continued home price appreciation and a volatile mortgage rate environment that has resulted in the least affordable housing market in decades, there remains a minority of consumers who still feel that now is a good time to buy a home. According to Fannie Mae ‘s latest Home Purchase Sentiment Index, 19% of consumers feel that now is a good time to buy a home.

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Home prices are close to dipping below last year

Sacramento Appraisal Blog

We are on the cusp of seeing year-over-year median price declines, so let’s talk about it. I wanted to share what looks to be on the horizon in the Sacramento area, and whether you’re local or not, I hope this is helpful. UPCOMING (PUBLIC) SPEAKING GIGS: 10/11/22 Folsom MLS Meeting (9am) 10/13/22 Market update in […]. The post Home prices are close to dipping below last year first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Robert Toll, co-founder of Toll Brothers, dies at 81

Housing Wire

Robert Irwin Toll , co-founder of Toll Brothers who also served as its former chairman and CEO, died Friday at his home in New York. Toll, who co-founded the large nationwide development firm alongside brother Bruce in 1967, was 81 and had Parkinson’s disease. Toll started the company after graduating from the University of Pennsylvania law school in the mid-1960s and time spent working at Philadelphia law firm Wolf Block.

Law 393
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The Two States of Anxiety for an Appraiser

Appraisal Buzz

The post The Two States of Anxiety for an Appraiser appeared first on Appraisal Buzz.

Appraisal 370
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Lower has a round of layoffs to “weather upcoming rate hikes”

Housing Wire

Ohio-based mortgage lender Lower imposed a round of layoffs last week due to market conditions, affecting 6% of its workforce, according to a spokesperson for the company. “We’ve right-sized areas of our business impacted the most by this volatile market, such as refinance, operations, training, and recruiting,” Lindsey LeBerth, the company’s director of communications, wrote in an email to HousingWire.

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How is the mortgage rate environment affecting due diligence? 

Housing Wire

With rising rates, the market is seeing a shift from originations to HELOC products. As the market shifts, lenders still need to be conscious of loan quality. HousingWire recently spoke with Brian Adams, Division President of Due Diligence at Consolidated Analytics , about due diligence in the current mortgage market. HousingWire: How is the market shifting in terms of loan offerings?

Mortgage 391
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Home Price Growth Falls to 12%

Appraisal Buzz

Home price growth showed signs of slowing in August 2022 as rates fell to 12% on an annualized basis—off from its 35% peak—according to the latest Home Price Index published by homegenius. The post Home Price Growth Falls to 12% appeared first on Appraisal Buzz.

Appraisal 195
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Angel Oak Home Loans cuts 15% of its workforce

Housing Wire

Atlanta-based Angel Oak Companies instituted a round of layoffs at its retail mortgage company on Friday, not long after trimming the workforce in its wholesale and correspondent business. The latest jobs cut was at Angel Oak Home Loans , which reduced its headcount by 57 employees, comprising 15% of the total, a spokesperson told HousingWire. The spokesperson added that the layoffs are to better position the company as it manages through the headwinds currently facing the mortgage industry.

Retail 391
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Luxury Second Home Demand Remains Above Pre-Pandemic Levels

Appraisal Buzz

Despite the struggles faced by the overall housing market, luxury second home mortgage rate locks remained 152% above their pre-pandemic level in Q3 of 2019, with remote workers continuing to lead the charge. The post Luxury Second Home Demand Remains Above Pre-Pandemic Levels appeared first on Appraisal Buzz.

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Another Successful Trip to Aruba with the Lamacchia Realty President’s Club

Lamacchia Realty

It was another very successful trip to Aruba for the Lamacchia Realty President’s Club! This was an all-inclusive, all-expense paid trip to the Riu Palace Antillas Hotel in Palm Beach, Aruba which combined President’s Club qualifiers from multiple years due to various postponements from the pandemic. The trip was filled with plenty of fun and activities including a Pirate cruise, days lounging on the beach and by the pool, and group dinners out on the town to celebrate their successes!

Realty 69
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HUD Issues $5.7M in Research Grants to Reduce Home Health Hazards

Appraisal Buzz

“The condition of a family’s home is a major factor in determining their health, and today, too many homes have hazards, particularly, homes in communities of color,” said Matthew Ammon, Director of the Office of Lead Hazard Control and Healthy Homes. The post HUD Issues $5.7M in Research Grants to Reduce Home Health Hazards appeared first on Appraisal Buzz.

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Quickly & Accurately Forecast ROI With This Real Estate Rental Calculator

Mashvisor

Do you want to forecast the returns you can get from an investment property? Find out why you need an ROI calculator real estate rental.

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Ethics is Our Solution

Appraisal Buzz

Today, we live in a highly charged political climate where truth is often obscured in relative terms. We live in a society where many times people are categorized and labeled inaccurately by the actions of others in their community or profession. A few people or a group of people in a community or profession do or say something resulting in the perception that everybody in that community or profession is of same mindset.

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How to House Hack By Renting-By-The-Room

BiggerPockets

House hacking is a great way to build wealth when you’re just starting out in real estate, but it can sometimes be complicated. How do you know what house is suitable […].

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Times Are A-Changin'

Town & Country Residential Appraisals

Over the past couple months, there has been a shift in the market. These changes are being affected by multiple factors such as the seasonal time of year that typically impacts real estate, the rise in interest rates and the need for the market to correct itself from the heightened activity over the past year. This shift was so pronounced in a recent appraisal I completed that I had to share it with you.

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Beyond Cash on Cash: How Thinking Like an Investor Unlocks More Deals

BiggerPockets

What sets apart your everyday real estate investor from an investing expert? While novice investors are focused on cash flow only, veteran landlords focus on something worth much, much more. […].

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[Podcast] Slate Money: Felix Learns What A Condo Is - Jonathan Miller joins to talk all things real estate.

Miller Samuel

I'm a regular listener to the Slate Money podcast so I was thrilled to be invited to participate. This week, Felix Salmon , Emily Peck , and Elizabeth Spiers are joined by housing market analyst and real estate appraiser Jonathan Miller to answer all their burning real estate questions including what’s going on with mortgage rates, how do new luxury buildings affect prices, and why is rent so damn high?

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Homebuyers wary of natural disaster-prone areas

Housing Wire

A new report from real estate brokerage Redfin shows more than 60% of American residents planning to buy or sell a home in the next year are reluctant to move to a natural disaster-prone area experiencing extreme temperatures or rising sea levels. The Redfin-commissioned survey gathered responses from 1,000 people in August who intended to buy or sell a home in the next year.