November, 2021

FHFA: Government to back mortgages up to $970,800 in 2022

Housing Wire

The Federal Housing Finance Agency (FHFA) today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%.

Random Thoughts of an Appraiser – Part 6

Appraisal Buzz

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.

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Zillow Zinged

Cleveland Appraisal Blog

I have written several articles demonstrating the inaccuracy of AVMs like Zillow’s Zestimates.

What Happened to Zillow?

George Dell

Zillow Zestimate has been the go-to source for consumers to check what their house is worth for many years now. Zillow leverages the traffic that this brings to their web site to sell other real estate services (not valuation products!).

Realtors Are Professionals Too

The Appraiser Coach

As an appraiser, you’re a real estate professional and you are in the business of valuing property. Inevitably, at some point in your career, you’re going to make another real. Read More.

Zillow Offers As A Proxy For 'Big Data' Shows The Lack Of Qualitative Analysis

Miller Samuel

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.

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Racial and Ethnic Valuation Gaps

Appraisal Buzz

In today’s Buzzcast, we dive into the racial and ethnic gaps within the home purchase appraisal.

Goodbye Zillow

Sacramento Appraisal Blog

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.”

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Is Appraisal Modernization Stymied?

George Dell

Modernization means bring in modern methods. What are they? Why aren’t they here? Is it really that hard? We have big financial resources. We have motive. We have huge organizations in place. And we have regulatory clout!

Are Pictures Really Worth a 1000 Words?

The Appraiser Coach

Realtor magazine published an article about whether or not listing photos should stay online after the home has sold. Some homeowners have privacy and safety concerns over these photos being. Read More.

This Just In: The 'A' in 'Zillow' Stands for 'Accuracy'

Miller Samuel

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.”

Pending home sales shock 2021 housing crash bears

Housing Wire

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.

Cost Approach in Fifteen Minutes or Less

Appraisal Buzz

This article was first published in the Fall 2021 Edition of Appraisal Buzz Magazine. To receive this subscription directly, click here.

Weakening housing affordability & that one new report

Sacramento Appraisal Blog

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.

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Comparables — Are 3 Enough?

George Dell

Three comparables have been the standard for many years. On the residential appraisal side, some clients ask for more (such as current listings). For ‘general’ appraisal, typically four to six comparable sales are enough to achieve believability (credibility).

Never Sacrifice Quality in the Name of Efficiency

The Appraiser Coach

There are no magic beans or secret sauce that you can use to suddenly make your life better. It’s actually about little tweaks; it’s a bunch of little things that. Read More.

New Home Sales Flat in October After September Data Revision

Eyes on Housing

Contracts for new, single-family home sales were flat at a 745,000 seasonally adjusted annual rate in October according to estimates from the joint release of the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.

Will Omicron variant stop first Fed rate hike?

Housing Wire

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?

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How Appraisers are Handling Market Value

Appraisal Buzz

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.

A slowing housing market, but still on steroids

Sacramento Appraisal Blog

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.

What is the Market in ‘Market Value’?

George Dell

Everyone knows what’s a market — (or do they)? Market Value is the ultimate goal of appraisals, of AVMs, of evaluations, of BPOs, hybrids, exceptions, and all forms of opinions (everyone has one). So, market value must be based on “the market”! To measure it, we must first know what it is.

Check Your Oil

The Appraiser Coach

You need to take care of yourself, even when you are busy and you’re having record breaking months. You can work hard but you still need to include some rest. Read More.

Single-Family Home Size Continues to Trend Higher

Eyes on Housing

An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Recent data confirms this impact on the market continues to occur.

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Waiting for a big drop in home prices? It could be a while

Housing Wire

With mortgage rates falling during the COVID-19 crisis, many households were able to refinance to lower payments.

CRN – Gross Living Area Measuring Standards Announcement

Appraisal Buzz

The Collateral Risk Network (CRN) announced today its formal endorsement of the gross living area measuring standard developed by the National Association of Home Builders (NAHB).

NAR: Residential property availability a ‘concern’

Valuation Review

The National Association of Realtors Fair Housing Policy & Valuation Director Sehar Siddiqi spoke virtually on a webinar sponsored by Metro-West Appraisal.

10 Awesomely Functional Gifts for the Real Estate Investor in Your Life

The Robert Weiler Company

‘Tis the season to be stumped! Coming up with ideas for the perfect gifts to surprise that special person each year can be an unnerving task. And, if you have a real estate investor in your life, the gift-finding pursuit can be quite a challenge.

Get Out of Your Comfort Zone

The Appraiser Coach

Over and over again, in just about any mastermind group or private coaching, I see the same phenomenon. People get comfortable with what they’re doing and, even when they are. Read More.

Single-Family Built-for-Rent: Best Quarter on Record

Eyes on Housing

The number of single-family built-for-rent (SFBFR) construction starts reached its highest quarterly volume on record during the third quarter of 2021.

Construction worker shortage has reached “crisis” levels

Housing Wire

For career switchers looking for a new path that doesn’t necessarily require a college degree, they could do worse than the building trades.

Unanswered Questions – Part 3

Appraisal Buzz

This article is the final submission in a 3-part series which uses probability theory as a useful tool for answering some of the difficult questions which have faced appraisers, particularly in rapidly changing market conditions.

Appraisers knowing their ‘why’ is key to success

Valuation Review

Dustin Harris' (“The Appraiser Coach”) blog post, “Knowing Your Why is the Key to Success,” is highlighted for this month’s Valuation Review installment. Harris shares his thoughts with regards to reminding appraisers how important that word “why” will be to them. Read on for more helpful tips

20 Awesomely Functional Gifts for Real Estate Investors [2021]

The Robert Weiler Company

‘Tis the season to be stumped! Coming up with ideas for the perfect gifts to surprise that special person each year can be an unnerving task. And, if you have a real estate investor in your life, the gift-finding pursuit can be quite a challenge.

Thank You Veterans

DW Slater Company

We appreciate all veterans and we truly thank you all for your service to our country. In honor of our veterans here is a list of special items available for veterans today: Restaurants. Applebee’s- Veterans and active duty receive a free meal today.

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