June, 2021

An Opportunity to Change the Appraisal Industry

Appraisal Buzz

Fannie and Freddie are slowly rolling back some of the COVID-era regulations that have facilitated getting appraisals done during the pandemic.

How Depreciation Works

Cleveland Appraisal Blog

What is the primary reason a newly built home has a higher market value than the same home that is older? In a word, depreciation. What is depreciation? Simply stated, it is loss in value. There are three basic causes of depreciation for homes. Physical, functional, and external obsolescence.

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When Should We Put Technology Aside?

The Appraiser Coach

I woke up to a text the other morning from one of my employees. The text had been sent at 12:30 AM! Now, I turn my phone off at night. Read More.

FHFA Director Mark Calabria must go

Housing Wire

Mark Calabria, the director of the Federal Housing Finance Agency , must go.

Don't Miss the Unveiling of the 2021-22 Top Ten Issues Affecting Real Estate® 6-23

Miller Samuel

[click image for free registration]. I'm a Counselor of Real Estate (CRE) and wanted to share this. Join The Counselors of Real Estate on June 23 for the unveiling of the 2021-22 Top Ten Issues Affecting Real Estate ®.

Is the housing market starting to slow?

Sacramento Appraisal Blog

Is this crazy housing market slowing? Let’s talk about that today. On one hand stats are basically at all-time highs, but when we look deeper we’re starting to see some subtle signs of slowing. What are you seeing out there?

SWBC Mortgage Opens a Number of New Offices

Appraisal Buzz

SWBC Mortgage Corp. has completed a territorial expansion that added 10 newly licensed branches, including new locations in the Pacific Northwest and Pennsylvania.

More Trending

Over Promise and Under Deliver

The Appraiser Coach

There are certain principles of good work and challenges that come when starting or running any business. Much of what we learn as business owners can also be passed on. Read More.

HUD unveils plan to increase Black homeownership

Housing Wire

Groups including the Department of Housing and Urban Development (HUD) unveiled a plan Friday to increase Black homeownership significantly over the next 9 years. The agency says it will create 3 million more Black homeowners by 2030.

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TV: Newsday Live: Hot Tips For a Hot Market: For Sellers

Miller Samuel

I had a fun conversation with Faith Jessie, journalist and anchor at Newsday, Maura McDermott, the real estate writer at Newsday, and Monica Balsan at Daniel Gale Sotheby's International Realty. My housing data came from our Elliman Report: Long Island Sales series I author for Douglas Elliman.

Lumber prices, bias, & slowing in the housing market

Sacramento Appraisal Blog

I’ve got a few things on my mind today. Some light stuff and some deep stuff. Let’s talk about lumber, food in listings, that leaning building in San Francisco, bias in valuations, and a slowing vibe in the housing market. Skim topics or digest slowly.

Ginnie Mae Introduces New Payment Reduction Options

Appraisal Buzz

Through a new pool type, Ginnie Mae deepens its commitment to a balanced and equitable housing finance system. The post Ginnie Mae Introduces New Payment Reduction Options appeared first on DSNews. The post Ginnie Mae Introduces New Payment Reduction Options appeared first on Appraisal Buzz.

Why Do I Teach Only Data Science?

George Dell

Data science is new ways of thinking, new tools, computation, and visualization. For valuation, it is simply optimizing the best of appraiser judgment and computer power. Traditional appraisal theory is good. It is a subset of economic theory.

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Be Nice or Be Quiet

The Appraiser Coach

Back in the 1980’s an American minister by the name of Robert Fulghum published a series of essays in a book titled All I Really Need To Know I Learned. Read More.

Housing inventory is about to get better — here’s why

Housing Wire

With the July 4th weekend nearly upon us, it’s time to reflect all that we have been through in the past year and how, as a country, we have overcome so many daunting obstacles, including what we have been through in the housing market.

Home Buyers Want Energy Efficient Windows

Eyes on Housing

Previous posts reported on home buyer preferences for kitchen and bath features, from NAHB’s recent study What Home Buyers Really Want, 2021 Edition.

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The invasion of institutional investors in the housing market

Sacramento Appraisal Blog

A couple weeks ago a viral story came out about a fund called BlackRock who was reported to be buying everything in sight and paying 20-50% above market value. Let’s talk about this as well as other institutional investors right now. This is a longer post, so scroll topics (or digest slowly).

Study Shows Build-to-Rent Market in ‘Turbo Mode’

Appraisal Buzz

As millennial families grow, remote work endures, and home prices skyrocket, houses constructed as single-family rentals gain in popularity. The post Study Shows Build-to-Rent Market in ‘Turbo Mode’ appeared first on DSNews.

Is Statistics Always Scary?

George Dell

Statistics is a necessary part of modernized valuation, and it is very much misunderstood. The main problem with statistics is words!

Wealth and Why

The Appraiser Coach

I love having the opportunity to get involved with other appraisers and to assist them in moving their businesses to the next level. I’ve been doing a lot of one-on-one. Read More.

Selling your home? Make sure you’re aware of hidden costs

Housing Wire

It’s no secret that buying a home takes time and money. Well, it turns out, so does selling a home. According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. .

Buyers Insist on Both a Shower & Tub in the Primary Bath

Eyes on Housing

Last Thursday’s post reported on home buyer preferences for kitchen features, from NAHB’s recent study What Home Buyers Really Want, 2021 Edition.

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Everything is selling $100K over the list price (not really)

Sacramento Appraisal Blog

The market is nuts and everything is selling $100K over the list price!! We hear that quite a bit, but how true is it? Today I have some new visuals to help answer this question. If you’re not local, would your market look similar? Two new visuals. What do you think?

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House Hunters’ Evolving Wants, Needs, and Willingness to Compromise

Appraisal Buzz

While vaccine rollouts mean some things are returning to normal, changes in consumers’ priorities could linger. The post House Hunters’ Evolving Wants, Needs, and Willingness to Compromise appeared first on theMReport.com.

What is Exploratory Data Analysis?

George Dell

Exploratory Data Analysis (EDA) is an implicit part of traditional appraisal. The appraiser invokes education, training, and market area familiarity to decide on comparables and adjustments to be made. The process takes place fully in the mind of a competent practitioner.

Racial Bias in Real Estate: Is it the Appraisers’ Fault?

Appraiserblogs

In the past year, the appraisal industry has been under attack from various academics who claim “racial bias” on the part of real property appraisers providing appraisal services to lenders who provide home mortgages.

Real estate brokerages embrace long-term remote work

Housing Wire

The Broadmoor Hotel in Colorado Springs, Colorado. Brokerage executives are elated to see each other in person again. So long as it’s temporary. “It’s It’s a tremendous opportunity to reconnect with everyone,” said Susan Yannaccone , chief executive of Realogy’s franchise network since last November.

Count of Open Construction Jobs Near Two-Year High

Eyes on Housing

The count of open construction jobs increased in April to 357,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). The housing market remains hot and requires additional labor, lots and lumber and building materials to add inventory.

Vacations & normalcy in the housing market

Sacramento Appraisal Blog

Are you taking a vacation this year? It seems like half my Instagram feed is in Hawaii right now. I’m not doing anything that big, but I did get back yesterday from a few days in Santa Cruz and it was just what I needed.

Freddie Mac: 30-Year Fixed Mortgage Rate Drops, Along with 5-Year ARM

Appraisal Buzz

Freddie Mac’s latest Primary Mortgage Market Survey (PMMS) shows that the 30-year fixed-rate mortgage (FRM) averaged 2.93 percent for the week ending June 17, down from 2.96 percent a week earlier. A year ago at this time, the 30-year FRM averaged 3.13 percent.

Critical Appraisal Theory?

George Dell

I was curious about what is “critical race theory”. I didn’t understand what it was about. The Sunday paper article – yes, I still read the morning newspaper every morning. seemed to summarize CRT and the oblong political football it seems to have become. Why critical? Why Theory?

UWM goes on the offensive with price-match guarantee

Housing Wire

United Wholesale Mortgage has been aggressively price-cutting loans to put pressure on competitors for months now. It appears they’ve just thrown gas on the fire in the hopes of boosting their second quarter numbers, while hitting their rivals ahead of earnings call season.

Taking Some Time Off

DW Slater Company

Taking in the views of Mount Ranier. Do you need some time off? This past year has been a time like none other. As we dealt with all of the unknowns, worries, and concerns of the pandemic, appraisers are busy. Busier than ever.

The Aging Housing Stock

Eyes on Housing

The median age of owner-occupied homes is 39 years, according to the latest data from the 2019 American Community Survey. Compared to a median age of 31 years in 2005, the U.S. owner-occupied housing stock is aging gradually.

Why we can’t build our way out of this hot housing market

Housing Wire

During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. Building more homes, it was said, would solve all sorts of social problems, from making homeownership more affordable to ending homelessness.

Market Value Vs. Sales Price with Nikki Smith

Appraisal Buzz

In today’s Buzzcast, we dive into market value versus sales price and how today’s wild market should be something all appraisers need to be up-to-date on. Today we have Nikki Smith, Chief Appraiser of Tucson Real Estate Appraisal, with Joan Trice, Founder of Allterra Group, LLC.

Judgment Based or Evidence Based?

George Dell

Appraiser training tells us to use good judgment – repeatedly. In fact, the word ‘judgment’ is used over 300 times in the current USPAP book. It must be important. It’s also used some 800 times in The Appraisal of Real Estate. It must be important.