June, 2021

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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. Appraisers are starting to get one-off requests from Fannie and Freddie for more information and an interior inspection, even though the property already had a COVID-alternative accepted. This rush to return to the status quo has created buzz in the appraisal industry—a wish that Fannie and Freddie were talking to appraisers about how to make the apprais

Appraisal 435
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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. . While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one.

Sellers 546
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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? QUICK SUMMARY: The market is still bananas, but we’re seeing some slight slowing. Stats could […].

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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 ®. Now in its 10th year, this signature thought leadership initiative identifies the current and emerging issues expected to have the most significant impact on all sectors of real estate.

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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. That study also asked the same panel of 3,247 recent and prospective home buyers to rate 18 bathroom features on the same four tier scale: Results show that bathrooms, especially the home’s primary bathroom, tend to be very.

Buyers 218
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If America Is Going to Address Housing Affordability, It Needs to Increase Access to Homeownership

Urban

It is cheaper to buy a home than it is to rent in two-thirds of US counties. Homeownership can provide the kind of affordability and stability low-income families need.

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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. Today we are perhaps less prone to believing that a glut of new homes is the panacea society is waiting for, but the siren call to build more homes continues to be broadcast by a host of housing pundits and social do-gooders

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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. 5 THINGS ON MY MIND 1) Lumber is lower (sort […].

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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. The interview was placed on Newsday's home page, which was pretty cool.

Sellers 397
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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. The same study also asked the panel of 3,247 recent and prospective home buyers to rate a dozen different window types and materials on the following four tier scale: The general window characteristic that home buyers value more.

Buyers 218
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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 recent article from Freddie Mac reporting on appraiser capacity during the pandemic reflects what we have been experiencing. “How can we take time off when it is so busy?

Clients 173
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5 GoFormz Features Your Operation Should Be Using

GoForrmz

Elevate your digital forms and data capture with these powerful features Whether you've just uploaded your first form to the GoFormz form editor or your entire form collection is already digital, these five features can take your digital forms and data capture further. Dynamic Field Properties Your form fields can be easily configured to guide user data entry and enforce data capture rules.

Tools 167
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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. UWM said on Monday that they’ll price-match any conventional loan on primary residences up to 35 basis points with that of 15 different competitors: Caliber Home Loans , Cardinal Financial , Citizens Bank , Financ

Mortgage 545
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What happens when there are no comparable sales?

Midtown Appraisal Group

Say what you will about sprawling new subdivisions, they’re a residential appraiser’s dream. There’s nothing easier than putting a value on a house when there have been 4 sales of the exact same model on the street in the past 6 months. But what happens when you’re faced with, say, a beautiful 90-year-old home that’s […].

Appraisal 160
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You’re on the Menu

Appraiserblogs

“If you don’t have a seat at the table, you are on the menu…” Would it be misleading to disclose you performed a personal inspection of a property done with significant appraisal assistance in which you relied on supported demographics? Well maybe… The Appraisal Foundation has issued a discussion draft to answer this question and others similar to it and wants your opinion.

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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. Overall, hiring in the construction sector slowed in April, declining to a 4.5% rate.

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Market Conditions- How do appraisers adjust for time in rapidly increasing markets?

DW Slater Company

If you are like me, you are probably tired of hearing the word “unprecedented” How many times have we said it or read it this past year? What is another word we can use? Remarkable? Extraordinary? Phenomenal? However we describe we are currently experiencing rapidly appreciating real estate markets. Not just in our local North Texas markets but in many places nationwide.

Appraisal 158
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Spotlight Form: Digital Lien Waivers

GoForrmz

Simplify the collection of signed lien waivers with digital form sharing Lien waivers can be frustrating. With paper forms and PDFs, the lien waiver process can result in significant delays due to form mismanagement, incorrect data entry, missing signatures, and lengthy delivery wait times. These delays, in turn, result in sluggish payments and frequent miscommunication.

Business 158
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Should you buy a home in a super-hot housing market?

Housing Wire

The world has been dealing with a significant health crisis since the beginning of 2020. This has provided the American bear troll crowd numerous opportunities to pontificate about a likely long-lasting depression. If you bought into the theories being peddled by this crash-cult crowd (who, by the way, have been infecting the discourse of economics since the creation of social media and YouTube channels) then you would have believed that the second housing market bubble crash was imminent during

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In the Twin Cities, Affordable Homeownership Is Increasingly Inaccessible for Black Families

Urban

The inequities Black families experience in the Twin Cities illustrates the larger systemic barriers surrounding race and opportunity in the United States.

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Can You Buy a House With a Low Credit Score? Yes—But Maybe You Shouldn’t

BiggerPockets

A low credit score doesn't mean you can't buy a house—or invest in real estate. It just means you need different strategies. And you should also carefully consider whether buying property is the right solution for you right now.

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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. The residential construction continues to fall behind in the number of new homes built especially after the Great Recession. This aging housing.

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Lesson Learned: Always Walk a Rental Property Before Falling in Love With It

Mashvisor

John Goreham has been investing in rental properties for about a decade and owns a rental property company. He has used Mashvisor’s tools in the past to help with his business.

Tools 81
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ClearCast Podcast E16 — Kukun Founder & CEO Raf Howery

Clear Capital

Follow ClearCast on LinkedIn , Twitter , Facebook , and Instagram. EPISODE SUMMARY. Jeff and Kenon check in with each other. They discuss Propy’s historic auction of the world’s first real estate NFT. Jeff delivers a larger-than-life Real Estate Joke of the Pod. They interview Kukun Founder & CEO Raf Howery. Watch ClearCast episode 16. Listen to ClearCast episode 16.

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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. The first thing that pops into my shriveled brain is how the housing market looked in February of 2020. Data from that month showed that housing was breaking out — but because we received this data in March of 2020, we were all too busy trying to survive to take

Inventory 541
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With Just a Month Left of the Eviction Moratorium, Many Mom-and-Pop Landlords and Tenants Are Still Unaware of Federal Rental Assistance

Urban

New survey data found that many landlords and tenants are still unaware of the assistance, and confusion about how to access it abounds.

Landlords 165
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How to Run a Rental Property Cash Flow Analysis

BiggerPockets

Understanding how your business makes money is imperative in helping it make more. Here, we dive into one of the most important aspects of real estate math: cash flow. Generating a positive cash flow requires an accurate rental property cash flow analysis.

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Real Estate Market Values Surge in the First Quarter

Eyes on Housing

The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that, in the first quarter of 2021, the aggregate market value of all owner-occupied real estate in the United States registered the largest numerical quarterly increase in the last 20 years’ worth of data. From $32.84 trillion in the fourth.

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6 Tips for Buying Rental Property to Maximize Return

Mashvisor

Buying rental property remains one of the best ways to build your wealth and secure your financial future through consistent cash flow.

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15 vs. 30-Year Mortgages

Assurance Financial

When you’re shopping around for a mortgage, there are several choices you’ll make that affect the monthly payment on the loan and how much you end up paying to own your home. One decision to make is how long your mortgage will last. Options include 10, 15, 20 and 30-year mortgages. Of the various loan terms, 15-year and 30-year mortgages tend to be the most common.

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Ginnie Mae unveils 40-year mortgage term for issuers

Housing Wire

Ginnie Mae is set to introduce a new 40-year mortgage term for its issuers on the heels of administrative shake ups at the top of the housing industry. Only loans with terms greater than 361 months and less than or equal to 480 months will be accepted, but there will be no loan amount restriction, Ginnie Mae said. The mortgage-bond giant said it expects the new pool to be available in October.

Mortgage 536
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What Do I Need to Know About Lead Paint in a Home?

Lamacchia Realty

WHAT DO I NEED TO KNOW ABOUT. LEAD PAINT IN A HOME? Are you buying or selling a home that was built prior to 1978? There’s a good chance there is lead paint in the home and as one of the only disclosures that is federally mandated, having lead paint can pose some challenges whether you’re buying or selling. Why Lead Paint is an Issue Lead is a toxic substance that can affect any and all organs in the body.

Buyers 74
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The 1% Rule Is Dead

BiggerPockets

The 1% rule is simply a rule of thumb—and an outdated one at that. It was created during a different time and overvalues the role of cash flow in today’s real estate investing climate.

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Consumer Confidence Rises to Highest Level since March 2020

Eyes on Housing

Consumer confidence continued its upward trend and approached to pre-pandemic level in May, as consumers became more upbeat about the current and future economic conditions and job market. Though short-term inflation expectations increased, it had little impact on consumer confidence or spending intentions. The share of consumers planning to buy homes, cars, and major appliances all increased, suggesting consumers will.

Marketing 187