Housing Wire
NOVEMBER 11, 2021
You could buy a top-of-the-line laptop and a new cell phone to match, or you could pay one month’s rent for a single-family home in Los Angeles. It’s not much better for prospective single-family renters across California, a study by HouseCanary found. In Ventura or Carlsbad, median single-family rents are $4,250, and in Santa Clara and Berkeley, median single-family rents reached $4,225 and $4,200, respectively.
Sacramento Appraisal Blog
NOVEMBER 8, 2021
Last week Zillow announced failure as a home flipper and there were no candle vigils. But there has been so much talk and I’ve heard everything from “This means the market is going to crash” to “The iBuyer model is dead.” Let’s talk about what this failure really means. Any thoughts? Skim topics of interest […].
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Appraisal Buzz
NOVEMBER 15, 2021
Matt Simmons has been busy with his sixth edition of “Random Thoughts of an Appraiser!” There are plenty of times where appraisers have collectively had thoughts or concepts that can be communicated and/or questioned in a sentence and don’t need a dedicated article. We are pleased to have Matt Simmons, partner of Maxwell, Hendry & Simmons, offer a periodic collection of observations on what’s going on in the valuation world.
Miller Samuel
NOVEMBER 7, 2021
Yes, big data usually infers 'quantitative' analysis, as in "relying on numbers." The Zestimate legacy of profound inaccuracy finally reached a devastating conclusion with the collapse of Zillow Offers this week and the loss of hundreds of millions in shareholder equity. Zillow never figured out the qualitative part that enables the actual precision in the pricing of a home sale.
Eyes on Housing
NOVEMBER 9, 2021
The prices of goods used in residential construction ex-energy climbed 0.8% in October (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The increase comes on the heels of two consecutive monthly declines largely driven by steep declines in lumber and plywood prices. The price index of services inputs to residential construction.
Urban
NOVEMBER 1, 2021
The gap in denial rates between Asian and white mortgage applicants bucks conventional indicators, as Asian applicants, on average, have higher credit scores.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Sacramento Appraisal Blog
NOVEMBER 1, 2021
Are buyers struggling to afford the market? Let’s talk about that today. I have some brand new visuals to share (Part I) and then let’s unpack a new study about affording new construction (Part II). What are you seeing in your area regarding affordability? I’d love to hear. PART ONE: Affordability 1) Duh, affordability is […].
Appraisal Buzz
NOVEMBER 10, 2021
In today’s Buzzcast, we dive into the racial and ethnic gaps within the home purchase appraisal. Today we have Jim Morrison, VP of Marketing and Sales for Allterra Group, Scott Reuter, Chief Appraiser and Director of Valuation of Freddie Mac, and Vivian Li, Senior Manager of Quantitative Analytics of Freddie Mac. We’ll be getting the inside scoop while they discuss the studies and data surrounding this hot button issue.
Miller Samuel
NOVEMBER 7, 2021
The news came quickly and brutally (especially if you were a ZG investor): @mortgage_yack #zillow #PINKHolidayRemix #realestate #utahrealestate ? original sound - Jack. I jumped on the bandwagon with this: This just in: The “A” in “Zillow” stands for “Accuracy.” [link] — Jonathan Miller (@jonathanmiller) November 3, 2021. And this was a perfect post: so zillow let a robot buy up thousands of properties, outbidding real buyers and artificially inflating the market, and now will be laying of
Eyes on Housing
NOVEMBER 18, 2021
The missing middle construction sector includes development of medium-density housing, including townhouses, duplexes and other small multifamily properties. While townhouse construction has trended higher in recent quarters, the multifamily segment of the missing middle (apartments in 2 to 4 unit properties) has shown weakness. For the third quarter of 2021, there were only 2,000 starts of such residences.
Urban
NOVEMBER 11, 2021
White households have nearly three times more housing wealth than households of color, a trend new research shows extends to 96 percent of US cities with sufficient data.
Housing Wire
NOVEMBER 26, 2021
Life comes at you fast. During this Thanksgiving week, we went from higher yields and the first Fed rate hike storyline to a big drop in bond yields and scary headlines on a new COVID variant, Omicron. How do we make sense of all this? In this type of economic environment is it even possible for mortgage rates to get to 4% and can the Federal Reserve really hike rates in an aggressive fashion?
Sacramento Appraisal Blog
NOVEMBER 17, 2021
Real estate has been slowing, but it’s still completely nuts. I’ll explain below. But first let me unpack the NAR conference in San Diego and share some exciting personal news. Then stats and perspective for those interested. NAR Conference & my new BFF: I had the honor of sitting on an appraiser panel last weekend […].
Appraisal Buzz
NOVEMBER 29, 2021
This article was first published in the Fall 2021 Edition of Appraisal Buzz Magazine. To receive this subscription directly, click here. Appraisers use three different property valuation methods: (1) Sales Comparison relates the estimated value of our subject property to similar settled, active, and pending market sales. (2) The Income Approach considers the present value of expected future cash flows. (3) Cost Approach has a basic formula: Property Value = Land Value plus Cost New minus Depre
GoForrmz
NOVEMBER 15, 2021
Reduce paper waste by leveraging digital forms as your sustainable business tool With paper forms, businesses struggle with administrative burdens , are prone to costly errors, and experience detrimental delays. Along with the negative business impacts, paper forms add to the current environmental struggles that are prevalent today. Having an understanding of the environmental impact of paper is critical, especially as paper accounts for 26% of total waste in landfills.
Eyes on Housing
NOVEMBER 29, 2021
Despite low inventory and increasing affordability concerns, both pending home sales and existing home sales jumped in October, according to the National Association of Realtors (NAR). Though the market remains strong and sales is on pace for its strongest sales in 15 years, higher home prices continue to price out first-time and young buyers. The Pending Home Sales Index (PHSI).
Chicagoland Appraisal Blog
NOVEMBER 8, 2021
2 months ago I wrote an article comparing Zillow’s Zestimate program to a regular appraisal process. It’s a common question that comes up and with the real estate market skyrocketing, thought I’d answer the question once and for all. To my dismay, I didn’t expect the large disparity which recently led to the end of Zillows flipping scheme. The article describes “Zillow Group’s AI-power house flipping operation as a dismal failure”.
Housing Wire
NOVEMBER 5, 2021
J.P. Morgan , through its private label conduit , J.P. Morgan Mortgage Trust , so far this year has sponsored 13 private-label securitization offerings backed by jumbo loans valued at $13.8 billion. Those offerings, current through the end of October, involved more than 14,000 jumbo mortgages, according to bond-rating agency presale reports. The data show that J.P.
JMV Lending
NOVEMBER 12, 2021
WHY WE REFUSED REFINANCES IN 2020 This is a quick aside but a reminder that we stopped accepting refinance applications in 2020. It cost us millions in lost revenue but we did so anyway because we wanted to make sure we could maintain our service levels for purchase business. This is because we knew that […]. The post How Likely Are You to Get an Appraisal Waiver?
Appraisal Buzz
NOVEMBER 24, 2021
In today’s Buzzcast, we dive into the hot button issue of how appraisers are handling this market. Today we have George Dell, Owner of Valuemetrics, with Joan Trice, Founder of Allterra Group, LLC. We’ll be getting the inside scoop while they discuss what’s being done. How has this new market been different than what is considered “normal?” In what ways are appraisers reacting?
GoForrmz
NOVEMBER 8, 2021
Join the paperless initiative: digitally transform your business while reducing its impact on the environment Tons upon tons of paper is produced every day, with thousands of trees cut down in the process. Although this process is nothing new, what might surprise many is the significant environmental impact that paper has on our planet. Professor Benjamin Sovacool of Aarhus University in Denmark states that there will be no water by 2040 if we maintain our current reliance on paper – resulting i
Eyes on Housing
NOVEMBER 4, 2021
An earlier post revealed that 66% of buyers who were actively engaged in the process of finding a home in the third quarter of 2021 have spent 3+ months searching for a home without success. For only the third time in this series history, the top reason these long-time searchers haven’t pulled the trigger is not because they can’t find.
Urban
NOVEMBER 2, 2021
Disparities in homeownership rates and home values limit the ability of households of color to both achieve homeownership and benefit from it.
Housing Wire
NOVEMBER 30, 2021
The Federal Housing Finance Agency (FHFA) today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. The federal government will now back mortgage loans of nearly $1 million, with the new ceiling loan limit for one-unit properties in most high-cost areas now $970,800 — or 150% of $647,200. Special statutory provisions establish different loan limit calculations for Alaska, Hawaii, Guam, and the U.S.
BiggerPockets
NOVEMBER 8, 2021
As we enter the final months of what has been a wild year for the housing market, key data suggests that we are slowly heading toward a slightly healthier and […].
Quicken Loans
NOVEMBER 5, 2021
It happened. At its most recent meeting, the Federal Open Market Committee (FOMC) of the Federal Reserve followed through on something that had been alluded to for a couple of months: It laid out a plan for the slow pullback of asset purchases by the Committee, including mortgage-backed securities. While this could push mortgage rates up because the Fed is a big buyer, it’s a gradual pullback intended to avoid anything like the taper tantrum of 2013.
GoForrmz
NOVEMBER 5, 2021
Instantly route completed forms to your contacts based on input information Processing paper forms results in a variety of time-wasting demands, including the hand delivery of completed forms. Relying on paper forms, teams in the field often need to deliver completed forms to their back-office counterparts before important business processes can take place (e.g. billing, payroll, etc.).
Eyes on Housing
NOVEMBER 15, 2021
Over the first nine months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 864,184. On a year-over-year (YoY) basis, this is a 21.2% increase over the September 2020 level of 713,286. Year-to-date ending in September, single-family permits increased in all four regions. Southern region reported the strongest increase of 22.8%, followed by Northeast (+20.4%), West.
Clear Capital
NOVEMBER 18, 2021
As of today, all Clear Capital ClearAVM reports are bigger and better than ever before! ClearAVM is an industry-leading, lending-grade AVM that provides reliable and accurate market value predictions. It uses machine learning to deliver values for 139+ million addresses across the U.S. and is designed for situations that demand highly-accurate and efficient results — home equity lending, portfolio valuation or review, and underwriting.
Housing Wire
NOVEMBER 29, 2021
Today, pending home sales came in as a big beat of estimates — up 7.5% in October — and since we are days away from December, we can officially label the 2021 housing crash bears as even worse than the 2020 housing crash bears. Like I have often said, professional grifters have plagued the housing sector for many years and shouldn’t be looked to as fundamental economic sources of information.
BiggerPockets
NOVEMBER 8, 2021
Did you hear the news about Zillow? The juggernaut real estate company that’s been buying houses left and right just decided to cease all of its house flipping operations. That’s […].
Lamacchia Realty
NOVEMBER 23, 2021
Dawn Kelley has officially qualified for the 2021 President’s Club by surpassing 33 sales this year! This is Dawn’s first time qualifying for this distinction and we couldn’t be more excited for her. Dawn is consistently recognized as a Top Producer in the Worcester office and throughout the company, most recently in October. She was also recognized as a Top Producer company-wide for 2020 and as a 2021 RACM Top Producer.
GoForrmz
NOVEMBER 10, 2021
Based in West Virginia, Lifeline Addiction Specialists help with addiction treatment and behavioral health needs. They offer an “office-based medication-assisted treatment program for adults with opioid dependence” as well as psychiatrists to assist with underlying causes of substance abuse issues. “ It’s a testament to the quality of the product that I don’t have to call GoFormz all the time.
Eyes on Housing
NOVEMBER 15, 2021
Friday’s post described how, in the construction industry, job layoffs have plunged while unfilled job positions remain elevated (according to the government’s latest Job Openings and Labor Turnover report). If more evidence of a severe supply chain challenge is needed, the record percentages of NAHB members reporting labor shortages in recent surveys can provide it.
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