May, 2021

April housing starts drop 13.4% from March

Housing Wire

Skyrocketing prices for lumber, appliances and other building materials continue to handcuff new housing starts all over the country. Single-family housing starts in April dropped 13.4% from March to a rate of 1.09 million, according to the most recent study from the U.S. Census Bureau.

No Diversity: 96.5% Of U.S. Appraisers Are White

Miller Samuel

Over the past year, beginning with this NY Times piece: Black Homeowners Face Discrimination in Appraisals that initiated a rising progression of news stories covering discrimination in the appraisal of houses. So I looked at U.S. labor force data from the U.S.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

The Similarities Between 2007 and Today

Appraisal Buzz

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs.

Who Needs Appraiser’s When One Has Cash?

Cleveland Appraisal Blog

Who needs an appraiser when one has cash? That’s a question a good friend asked me after telling me that a home on the same street from them sold, in hours, for a much higher price than many other generally similar homes are selling for in the neighborhood. The buyers paid cash.

Saving Photos as an Appraiser

The Appraiser Coach

It is no secret that we as appraisers take a lot of photos. I probably take about 20-25 per house that I inspect. Then there are all the comp photos. Read More.

An open letter to home sellers in a crazy market

Sacramento Appraisal Blog

Dear Sellers, How are things? I hope all is well. The housing market is so chaotic right now, so I wanted to share some thoughts and advice that I thought might help. This is coming from a good place and it’s based on observations and conversations with the real estate community.

Generation X is looking to move to these metros

Housing Wire

In the last few years, there’s been a lot of conversation surrounding 25 to 40-year-olds and their home purchasing habits. But according to a new LendingTree study , millennials aren’t the only ones making big purchases – Generation X is doing the same.

Buyers 427

More Trending

The Challenges of Appraising Multifamily Properties

Appraisal Buzz

When you calculate a house’s worth, you think about how numerous factors position the property in the current market. This process has appraisers review location, condition, and other variables so they can assess whether buyers will be interested.

What’s Your View?

Cleveland Appraisal Blog

When a rainbow appears, it can put a smile on our face. They are so beautiful! When one appears, you can be sure that images of one will appear on social media, as people share their beauty with others. Rainbows are artwork in the sky. For many, including me, they invoke happy feelings.

How To Determine Time Adjustments

The Appraiser Coach

I recently had a question come in from a follower regarding how to best make time adjustments in this crazy world of multiple offers and offers over list. It was. Read More.

How much are buyers paying above the asking price?

Sacramento Appraisal Blog

“Buyers are crazy!!! How can they be paying these prices?” ” That’s what we tend to hear from people who are NOT trying to buy a house right now. It seems like onlookers really don’t understand what it takes to get an offer accepted these days.

Buyers 288

Navigating appraisal challenges in today’s housing market

Housing Wire

The booming real estate market has created a high demand for appraisal services. This is good news for lenders, but it puts a tremendous amount of pressure on appraisers who have to be diligent in their work, while also meeting closing dates.

What are AI, ML, and BS?

George Dell

Misused terms: AI (Artificial Intelligence), ML (Machine Learning), makes you look smart. It makes for clever marketing. And it may be BS. The most important “algorithm” for valuers is A+B=C. Words are important. They help us understand each other and avoid wars.

Design 195

Race and the Property Valuation Industry

Appraisal Buzz

Many of you reading this are probably familiar with this case that recently went viral. A husband and wife requested a bank appraisal to refinance their Jacksonville, Florida home. The wife is African American, and her husband is white.

An Entertainer’s Dream: Top Backyard Upgrades Your Summer Guests Will Eat Up

Cleveland Appraisal Blog

Hello everyone! I hope you’re doing great out there! I am working on a new article that I will share next week. Kelsey Luvisa from HomeLight wrote a cool article for the Cleveland Appraisal Blog on a hot topic in real estate, namely, backyard entertaining.

Record Numbers of Builders Report Material Shortages

Eyes on Housing

Shortages of materials are now more widespread than at any at any time since NAHB began tracking the issue on a regular basis in the 1990s, in is survey for the NAHB/Wells Fargo Housing Market Index (HMI).

When selling way above anything else (Q&A)

Sacramento Appraisal Blog

There’s no way it will sell for that much… But then it did. Today I have an interview with a local real estate agent about a property that recently commanded easily about $100,000 more than it looked like it could have on paper.

Existing home sales data: A bad sign for housing market?

Housing Wire

According to the National Association of Realtors, existing home sales for April’s housing market came in at 5,8500,000. This was a miss from estimates and the third straight month of declines in sales.

Is Market Value Obvious?

George Dell

Is it “Obvious”, like some people have “common sense”? Or is it counter-intuitive? We compared price versus value in Part I. There, the leading paragraph defines “market value” as per USPAP Advisory Opinion 22.)

Freddie Mac Names Michael DeVito New CEO

Appraisal Buzz

Former Wells Fargo Head of Home Lending comes out of retirement to lead GSE. The post Freddie Mac Names Michael DeVito New CEO appeared first on DSNews. The post Freddie Mac Names Michael DeVito New CEO appeared first on Appraisal Buzz. Around The Web

Fannie Mae is Not Developing New Appraisal Forms

The Appraiser Coach

Despite what rumors you may have heard, Fannie Mae is not coming out with any new appraisal forms. Of course, I am playing with you a bit; they are coming. Read More.

Median Age of Construction Workforce

Eyes on Housing

NAHB analysis of the most recent 2019 American Community Survey (ACS) data reveals that the median age of construction workers is 41, the same as a typical worker in the national labor force.

Home prices are insane (so is the rental market)

Sacramento Appraisal Blog

Prices growth has been insane lately and that’s pretty much how the rental market feels too. Let’s talk about this and a few other things. Enjoy. Three Things: 1) THE ASTERISK IN THE ROOM: Home price stats are truly crazy right now across the country.

Is housing market demand starting to weaken?

Housing Wire

Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin.

Time to Adjust?

George Dell

Is it time that matters? Or is it different market conditions? At one point, I was told to stop teaching that it’s a ‘time adjustment’. Because it’s actually a ‘market conditions’ adjustment. This bothered me. It seemed like yet another step backward in the march of appraisal practices.

A New Appraiser Discusses his Journey into the Industry

Appraisal Buzz

In today’s Buzzcast, we dive into a firsthand account from a new appraiser of the Appraiser Diversity Initiative (ADI) by Fannie Mae and the challenges facing trainee appraisers today.

15 Years of Appraising

DW Slater Company

15 Years of Appraising. This month marks my 15th year of real estate appraising. I clearly remember how nervous I was to quit my teaching job and a steady paycheck to join my husband in his business.

Building Materials Prices Continue to Set Record Highs

Eyes on Housing

Prices paid for goods used in residential construction ex-energy rose 1.7% in April (not seasonally adjusted) and have increased 12.4% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e.,

ProTip: Capture Electronic Signatures with HIPAA-Secure Online Forms

GoForrmz

Simplify the collection of authorizations and approvals with HIPAA-secure electronic signatures HIPAA-secure online forms make it easy to collect information and authorizations from patients, healthcare providers, insurance professionals, and more.

Investors are buying up single-family homes across the US

Housing Wire

After three straight quarters of declines, home purchases by investors rose 2.7% year over year in the first quarter of 2021, marking the first period of growth since the COVID-19 pandemic began, per a new study from Redfin.

Market Price or Market Value Or?

George Dell

Market value for home loans in the United States is precisely defined. The understanding of “market value” is the single most important concept defining what appraisers do.

Pending Home Sales Decline Unexpectedly; Rates Erase 2 Days of Progress

Appraisal Buzz

It seemed safe to say, even before the National Association of Realtors® (NAR) released the pending home sale numbers for April, that some analyst somewhere would be able to say, “I told you so.” ” Trading Economics had a +0.8

What to Wear?

DW Slater Company

Photo by BBH Singapore on Unsplash. No this hasn’t suddenly become a fashion blog. This is really for my fellow female appraisers. My apologies guys, some of this might apply to you, but I am really speaking to the gals.

Design 139

47% of Home Buyers Want an Exercise Room

Eyes on Housing

NAHB’s latest survey on consumer preferences – What Home Buyers Really Want – asked recent and prospective buyers about the desirability of an exercise room in the home. Results show that 47% of buyers rate an exercise room essential or desirable.

Buyers 161

5 Fields and Features to Add to Your Digital Lien Waivers

GoForrmz

Accelerate lien waiver distribution and processing with GoFormz The lien waiver process is a common burden for construction teams. For subcontractors, lien waivers need to be completed, reviewed, and signed each and every month on a project.

We’ve got rising home prices but no housing crash in sight

Housing Wire

The key to the U.S. getting back on track economically is for its citizens to freely walk the earth again without the existential threat of COVID-19. The U.S. is getting closer and closer to meeting that goal, while other countries are still trying to control the virus.

Alleged Systemic Racism in Appraisal Myth

Appraiserblogs

In virtually every single case of alleged racism to hit the media recently, admitted staged events were in play. One could argue staging was necessary to identify if a valuation difference resulted from perceptions of what race the occupants are. Fair enough.