Wed.Apr 05, 2023

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Government mortgage loan demand drops as affordability issues loom

Housing Wire

Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. But that did not happen, as the affordability issues that remain on the horizon challenged mainly first-time homebuyers. Overall, mortgage applications declined 4.1% last week on a seasonally adjusted basis, down from one week earlier, according to the Mortgage Bankers Association (MBA).

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The housing market is hot again (sort of)

Sacramento Appraisal Blog

The market is hot again. Sort of. We’ve been seeing a spring seasonal market for a few months, but we seemed to hit an inflection point locally a few weeks ago, and it’s getting REALLY competitive out there. Let’s talk about it. This is a longer post, so scroll by topic or digest slowly. UPCOMING […] The post The housing market is hot again (sort of) first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Here are the top 25 mortgage lenders in America for 2022

Housing Wire

Rocket Mortgage hung onto its claim as the nation’s largest home lender in 2022 — by the skin of their teeth. According to Home Mortgage Disclosure Act (HMDA) data collated by mortgage data firm iEmergent , Rocket originated $127.58 billion in home loans in 2022, edging rival United Wholesale Mortgage by about $63.5 million, less than a day’s worth of business.

Mortgage 336
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Is the Definition of Market Value Outdated? Part III

George Dell

Editor’s Note: This is Part 3 of Bruce Hahn’s series on Is the Definition of Market Value Outdated? In Part One and Part Two we asked why the current definition of market value has been around without change for so long? We focused on item 4 in the current definition of market value which says: […] The post Is the Definition of Market Value Outdated?

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Fannie Mae and Freddie Mac expand plans for equitable housing

Housing Wire

Fannie Mae and Freddie Mac announced on Wednesday new updates to their equitable housing finance plans, which outline the expansion of accessible and affordable housing available to underserved communities. Fannie Mae is expanding a series of pilot programs, launching new initiatives and applying new research to its understanding of its consumer housing journey roadmap.

Finance 324
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MLS collaboration aims to be leading source of housing data

Real Estate News

REdistribute, led by powerhouses Bright MLS and CRMLS, has launched with the goal of monetizing MLS data and sharing revenue back to participants.

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Home features that can fetch your sellers a better price

Real Estate News

Zillow's latest analysis of listing descriptions found that certain keywords were correlated with higher sale prices and faster sales.

Sellers 236
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Affordability Pyramid Shows 64.8 Million Households Cannot Buy a $250,000 Home

Eyes on Housing

As described in a previous post, NAHB’s recently released its 2023 Priced-Out Estimates, show that 96.5 million households are not able to afford a median priced new home, and that an additional 140,436 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how many households have.

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Ouster of Residential Real Estate Council president raises questions

Inman

The Residential Real Estate Council removed Pam Ruggeroli from her position for reasons the trade group will not disclose, prompting an outpouring of support for the ousted president.

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Warehouse Space in Columbus, Ohio: 17 Actionable Steps to Find, Lease & Organize Your Next Hub

The Robert Weiler Company

Warehouse space in Columbus, Ohio and throughout the United States is disappearing as it’s becoming scarcer and pricier. However, thanks to the continuing popularity of e-commerce and online sales, the demand for warehouse space for rent is rising. This is particularly the case in the major population centers. The pandemic created a spike in e-commerce sales and the need for data centers, transforming the industrial real estate market both nationally and locally, in Columbus, Ohio.

Landlords 144
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23 objections you’ll hear now (and how to handle them)

Inman

Objections can throw you for a loop, and there will be a new one every time. There are a variety of ways to respond, but the key is to make your response authentic, incorporating your unique style and voice.

Clients 153
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FAQ #14: Who Should Be At The Home During An Appraisal?

Riverfront Appraisals

So far in this season of our blog, we’ve covered 13 frequently asked questions about the real estate appraisal process, and most of them are questions we get during or after our on-site visit. Our current post is different in that we get this question before we ever get to the home. And, it has […] The post FAQ #14: Who Should Be At The Home During An Appraisal?

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Better workers fear they won’t see $100M in retention stock bonuses

Inman

The mortgage lender says it remains committed to distributing equity-based bonuses to all eligible employees, including $50M from CEO and founder Vishal Garg's personal equity.

Mortgage 148
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Getting Started with Basic GoFormz Workflows

GoForrmz

Automate common tasks, like uploading completed forms to Cloud storage applications or emailing completed documents Did you know you can use GoFormz to automatically email completed forms to your contacts or instantly upload forms to your favorite Cloud storage apps? Using our Workflows feature you can easily set up basic automations to accelerate and simplify tasks – saving you and your team significant time and ensuring forms always end up exactly where you need them.

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New York City hot dog icon Papaya King saved following Extell eviction

Inman

The 91-year-old hot dog stand — once thought to be doomed — will instead move across the street after its building was purchased by a developer Extell Development and founder Gary Barnett.

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Lodestar, NAN partner

Valuation Review

LodeStar Software Solutions, Nationwide Appraisal Network partner.

Appraisal 110
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As an agent I was ‘attacked’ by the hacker OBN. Here’s what happened

Inman

Miami agent and model Kay Jenkins was targeted by the Instagram hacker OBN. She revealed to Inman how she lost $10K in the ordeal, and what other agents can do to prevent a similar attack.

Agents 146
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Home Features That Are Perfect for Entertaining

Lamacchia Realty

HOME FEATURES THAT ARE PERFECT FOR ENTERTAINING Gatherings with friends and family make some of the most special memories, and many find joy in welcoming their loved ones into their homes. Whether you’re searching for a new place, or looking to make upgrades to your current home , there are many factors that make a space more entertaining-friendly. Here are some home features that are perfect for hosting dinner parties, outdoor BBQs, holiday gatherings, and more!

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75% of agents say they won’t switch brokerages over next 2 years

Inman

From 2019 to 2023, the number of agents who left a brokerage due to a weak culture doubled to 30 percent, according to a recent Coldwell Banker survey.

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Commercial firm expands client list

Valuation Review

Valcre announced its continued expansion across North America.

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Cash to burn: Do real estate’s big players have enough in the bank?

Inman

Real estate businesses burned through billions in cash last year. Intel breaks down the biggest companies with the least wiggle room as economic uncertainty stretches into 2023.

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US Rental Housing Market News for April 2023

Mashvisor

As we enter Q2 2023, a lot of investors are curious to read about the latest US housing market news to see what’s in store for them this year.

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Don’t knock the She Shed, guys — it could get you a 2.5% premium

Inman

Amenities that appeal to cooking enthusiasts, like steam ovens, pizza ovens or professional-grade appliances, can also add as much as 5.3% more to a home's sale price, a new analysis shows.

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Florida’s New Affordable Housing Law

Lamacchia Realty

Last week, the state of Florida finalized a new comprehensive affordable housing law which will infuse over $700 million into housing and make it easier to build new housing with zoning changes and tax breaks. Entitled the “ Live Local Act ,” this new law represents a sweeping change to Florida law and it is intended to create more housing to help with the state’s affordable housing shortage.

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Apartment sales plunge 74%, fastest drop since Great Recession

Inman

Interest rates are to blame as investors who scooped up multifamily buildings throughout the early years of COVID-19 pull back, according to a new report.

Investors 144
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AI: Fannie Mae says appraisals no longer need ‘default requirement’

Valuation Review

On March 1, Fannie Mae updated its Selling Guide to include a range of options for property valuations.

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KC Conway on a big banking risk that has flown under the radar

Inman

Hundreds of banks are exposed to large concentrations of commercial real estate — and high levels of risk, Red Shoe Economics' K.C. Conway, a seasoned Federal Reserve veteran, told Intel.

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CBRE announces acquisition of commercial firm affiliate

Valuation Review

CBRE announced it acquired the L.A. and Orange County affiliates of Integra Realty Resources.

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LoanDepot founder gets wish: Ozonian joins board after face-off

Inman

The settlement with loanDepot founder Anthony Hsieh ends a proxy fight that broke out in February after Hsieh was ousted as loanDepot's executive chairman.

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Boston25 News Talks Realities of 2023 Spring Market with Anthony Lamacchia

Lamacchia Realty

Monday afternoon, Anthony Lamacchia discussed the realities of the 2023 spring market and the impact it has had on buyers with Boston25 journalist Robert Goulston. Watch the segment below! Play Video Boston25 News Talks Realities of 2023 Spring Market with Anthony Lamacchia April 5, 2023 No Comments Read More » Florida’s New Affordable Housing Law April 5, 2023 No Comments Read More » Home Features That Are Perfect for Entertaining April 5, 2023 No Comments Read More » The post Boston25 News Tal

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Which brokerages are winning (and losing) in 2023?

Inman

The market crunch is on. Find out what the latest numbers tell us about the brokerages that are winning and those that are not.

Brokerage 151
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TAF: Fifth Exposure Draft of proposed USPAP changes available

Valuation Review

The Appraisal Foundation released the Fifth Exposure Draft of proposed changes to USPAP.

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7-state mega MLS ditches alphabet soup, rebrands as ‘Prime’

Inman

CEO Chad Jacobson: "Our name no longer ties us to a geographic location, but instead embodies our desire to be the best at what we do.

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Appraisal district appeals values

Valuation Review

The Washington County Appraisal District is appealing state’s findings.