August, 2022

Homebuilders are done until mortgage rates fall

Housing Wire

Tuesday’s housing starts report clearly shows that homebuilders are going to be done with single-family construction until mortgage rates fall.

Advice for buyers & sellers in today’s housing 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.

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What Impact Will the Infrastructure Bill Have on the Housing Crisis?

Appraisal Buzz

The United States is currently in what many consider to be a housing crisis. Market prices for purchased and rented homes are through the roof, with no clear end in sight. More people are searching for homes than there are houses available.

Advantages of Starting Your Business in Cleveland

Cleveland Appraisal Blog

Are you considering starting a business in the Cleveland area? I moved from Denver, Colorado to the Cleveland area in 1996. It’s a great place to start a business! This week I welcome back guest blogger Seth Murphy who shares some advantages of starting a business in the Cleveland area. Enjoy!

When There’s No Comparison

The Appraiser Coach

If you’ve been a part of the appraisal world for long, you’ve had this experience. You’ve just submitted a completed report that you feel pretty good about. Soon afterward, however, Read More.

Bias in the (Transaction) Zone?

George Dell

The transaction zone is a range within which a sale price might occur. Yet our definitions of value nearly all define a “most probable” price. In prior issues, we have discussed how vintage appraisal practice is vulnerable to accusations of bias.

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Opendoor is struggling in Sacramento

Sacramento Appraisal Blog

Opendoor has been losing big lately in Sacramento since the market shifted. I thought it would be interesting to take a look at their activity over the past few months since I’m getting so many questions about them. This is not about throwing shade, and I’m not writing as a fanboy either.

Handling Non-Linear Market Changes

Appraisal Buzz

This year has felt like riding a roller coaster…in the dark…facing backwards. Some of the changes are probably specific to my market, but others will be familiar to most of you. The shifts in supply and demand have been rapid and not always easy to predict.

Make Your First Investment Property an Attractive and Profitable Option

Cleveland Appraisal Blog

You’ve just purchased your first property to renovate. How can you capitalize on your first investment property? I welcome back guest blogger and Author, Jessica Brody, who shares some tips with us on how to do so. Enjoy!

Connecting With Agents

The Appraiser Coach

When it comes to getting business, a lot of us like to go for the “low-hanging fruit.” AMCs are a wonderful source of that “easy to get” business. They’ve been. Read More.

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Is Truth a Credible Edible?

George Dell

Truth can be hard to swallow! I find their ‘truth’ not credible. Not believable. Well, for one thing. One important thing. That belief conflicts with MY belief. Clearly, my beliefs are better than theirs! Anybody can see that. At least they should see that. How can they be so stupid?

Sixth recession red flag raised, despite strong jobs report

Housing Wire

What a crazy day for my economic model! On the same day, the Bureau of Labor Statistics (BLS) revealed that we’ve recovered all the jobs lost to COVID-19 and I am raising my sixth recession red flag. When I wrote the America is back recovery model on April 7, 2020, and then retired it on Dec.

The inventory myth & dipping prices

Sacramento Appraisal Blog

Let’s talk about two things today. The myth of six months of inventory being normal and dipping prices. I’d love to hear your take in the comments.

Fannie Mae is Bullish on Appraiser Trainees

Appraisal Buzz

Appraisers who have had the opportunity to participate in an appraiser conference recently have probably noticed a recurring theme from Fannie Mae – the importance of supervisory appraisers training the next generation of appraisers. Why is this so important to us?

Pros and Cons of Selling Your Home As-Is

Cleveland Appraisal Blog

Do you fix your home up or sell it as-is? That can be a tough question to answer. There are some things to consider before making this decision. This week I welcome back guest blogger Betty White who shares some pros and cons of selling a home in its as-is condition.

How Full Is Your Glass?

The Appraiser Coach

I love podcasts! In fact, I started recording podcasts because of how much I loved listening to them. Recently, I was listening to a podcast about car salesmen, and one. Read More.

Why Data Science?

George Dell

Why not data science? Before we talk about anything, we need to know what ‘it’ is. What is data science? First, what is science? Science is “a systematic study, by observation or experiment; by an expert in scientific method and the field of study.” And what is data?

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Is housing inventory growth really slowing down?

Housing Wire

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. What does this mean?

The housing market went from steaming to stagnant (free download)

Sacramento Appraisal Blog

The housing market went from steaming to stagnant a few months ago, and now that some time has passed, we’re getting more stats to help show the effect of higher mortgage rates. Today let’s look at sales volume to understand what’s going on.

Burn it Down

Appraisal Buzz

The post Burn it Down appeared first on Appraisal Buzz. Buzztoons appraisal appraisal buzz appraiser appraisers

Housing Affordability Falls to Lowest Level Since Great Recession

Eyes on Housing

Rising mortgage rates, high inflation, low existing inventory and elevated home prices contributed to housing affordability falling to its lowest point since the Great Recession in the second quarter of 2022.

Knowing Is Half the Battle

The Appraiser Coach

In the beginning of the COVID-19 pandemic, when the State of Idaho shut down, my company and I took a remote appraisal assignment. Because of the local stay-at-home order, we. Read More.

Can AI Save The AI? Part I

George Dell

AI is “Artificial Intelligence.” The AI is Appraisal Institute. Artificial intelligence is a part of data science. Appraisal comprises science and art. Let’s take a look at what the primal AI intended, and what happened. Which is which? Once upon a time, science and art aspired to be the same.

This app lets homeowners generate floor plans of their homes for free

Housing Wire

In a recent survey by the National Association of Realtors , floor plans ranked as the third most desired listing feature for homebuyers, after photos and detailed listing information. But floor plans are a relative rarity on multiple listings services: only 10-15% home listings in the U.S.

Buyers are making less aggressive offers

Sacramento Appraisal Blog

Good news. Buyers aren’t having to make aggressive offers like they used to (even when there are multiple offers). Let’s talk about this today. I suspect this is true in many areas across the country. I’d love to hear your take.

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Habitat for Humanity and the VA Partner to Increase Veteran Homeownership

Appraisal Buzz

New partnership geared toward expanding homeownership opportunities among the nation’s veterans will partially subsidize homeownership expenses and cost-burdens for up to 10 or 15 years for qualified candidates.

Has Inflation Peaked?

Eyes on Housing

Consumer prices eased slightly from a 40-year high in July as declines in energy prices offset increases in food and shelter indexes. Despite this improvement, inflation remains above an 8% rate for a fifth straight month.

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Recipe for Perfect Customer Service

The Appraiser Coach

I’m not the biggest dessert person in the world, but I have a weakness for Arnold Palmers. For those of you unfamiliar with what an Arnold Palmer is, it’s a. Read More.

How to Avoid Accusations of Bias?

George Dell

Editor’s Note: This is Part 1 of a new series on Bias. Easy – Just don’t be biased. Don’t even think about it! Alternately, we can have the government regulate and require it! To know what ‘unbiasedness’ is, and how to achieve it, we have to be able to measure it.

Fannie Mae sees dark days ahead for the housing market

Housing Wire

It will get worse for the housing market – and mortgage industry – before it gets better. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week.

Buying or Selling Ohio Land for Sale? Think Land Appraisal.

The Robert Weiler Company

When there is Ohio land for sale – whether raw acreage, commercial property, or residential – a land appraisal is the key component of the process. Any loan for a property is based on the appraisal value.

Pushing Mortgage Underwriting Further Into the Digital Age

Appraisal Buzz

Andy Sheehan of Finicity explains how Freddie Mac’s Loan Product Advisor acceptance of direct deposit data to assess income, payroll, and account transactions data for verification of employment can enable digitization through open banking.

Builder Confidence Falls for Eighth Consecutive Month

Eyes on Housing

Builder confidence fell for the eighth straight month in August as elevated interest rates, ongoing supply chain problems and high home prices continue to exacerbate housing affordability challenges.

What is the Triangle in NC?

Raleigh Realty

What is the Triangle in North Carolina? One of the most common questions we receive is 'what is the Triangle in NC?' Below we answer that and a few more common questions: Click here to search for Triangle Real Estate.

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