September, 2021

article thumbnail

Homeowners gain $2.9 trillion in equity in Q2 2021

Housing Wire

Homeowners with mortgages gained $2.9 trillion in equity in the second quarter of 2021, a 29.3% year-over-year increase, according to a new report by CoreLogic released Wednesday. This marks an average gain of $51,500(!) per borrower since the second quarter of 2020. The amount of equity for a property is determined by comparting the estimated current value of the property against the mortgage debt outstanding (MDO).

article thumbnail

Goodbye single family zoning

Sacramento Appraisal Blog

Goodbye single family zoning. If you didn’t know, two weeks ago SB9 was signed into law in California, which now allows property owners to build a duplex on any residential lot or subdivide to build up to four units. This is massive news, so let’s talk about it. I’d love to hear your take in […].

Law 465
Insiders

Sign Up for our Newsletter

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

article thumbnail

Protected: Capital One is hiring a Sr. Manager-level Commercial Real Estate Reviewer!

Appraisal Buzz

This content is password protected. To view it please enter your password below: Password: The post Protected: Capital One is hiring a Sr. Manager-level Commercial Real Estate Reviewer! appeared first on Appraisal Buzz.

article thumbnail

Finding Comps in Non-Disclosure States

The Appraiser Coach

All three states that I’m licensed in, Idaho, Utah and Wyoming, are non-disclosure states. I’ve never worked in a disclosure state and so I’m always a bit surprised when I’m. Read More.

article thumbnail

3 Ways Agents Can Help Appraisers to Be More Accurate

Cleveland Appraisal Blog

In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. (MLS) We use it to find homes that are comparable to the ones we are valuing, to determine what buyers are paying for similar homes. We also use the MLS to analyze the market trends and to make market-based adjustments for things such as changes in sales prices, as well as features of a home that have a major impact on market value, like finished square footage, bedroom, and bathroom

Agents 374
article thumbnail

Mortgage Refinancing Activity Tapers in Latest Month

Eyes on Housing

The last four weeks’ mortgage purchasing and refinancing activities, as reflected in the Mortgage Bankers Association’s (MBA) latest weekly application surveys, shows a general withdrawal of refinancing and a very slight increase in purchasing from the prior month. The 30-year fixed-rate mortgage rate hovered 3 basis points above 3 percent, consistently, for the last three weeks.

Mortgage 218

More Trending

article thumbnail

Price reductions don’t mean the market is crashing

Sacramento Appraisal Blog

We’re seeing more price reductions lately. Does this mean the market is starting to collapse? Are things beginning to turn? Is this 2008 all over again? I’ve been getting great questions like this lately, so let’s talk shop. Teaching my favorite class: On September 28th from 9am-12pm I’m teaching my favorite class at SAR called […].

Marketing 420
article thumbnail

Supply Constraints Could Hinder Home Sales

Appraisal Buzz

For the second month in a row, the economists at Fannie Mae revised expectations for near-term real GDP growth downward—and outward—due to persistent supply chain disruptions and labor market tightness, according to the September 2021 commentary from the GSE’s Economic and Strategic Research (ESR) Group. Those factors, they say, will affect the housing market as the … The post Supply Constraints Could Hinder Home Sales appeared first on theMReport.com.

article thumbnail

Agents, Don’t Skip the Appraisal

The Appraiser Coach

Appraisers have been accused of being “speed bumps” in the lending process. We frustrate buyers, sellers, loan officers and, sometimes, real estate agents. In some ways, I can understand their. Read More.

Agents 370
article thumbnail

6 Things People Say About Buying a Home Today That Actually Aren’t True

Realtor

It's a seller's market, but not everything you hear about buying a home today is true. We asked real estate agents to weigh in on some homebuying myths. The post 6 Things People Say About Buying a Home Today That Actually Aren’t True appeared first on Real Estate News & Insights | realtor.com®.

article thumbnail

CPI Growth Slows in August

Eyes on Housing

In August, consumer prices increased at its slowest pace since February 2021. Prices for several travel-related categories declined in August, as the delta variant spreads. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.3% in August on a seasonally adjusted basis, following an increase of 0.5% in July. Excluding the volatile food and.

202
202
article thumbnail

Red-hot US housing market begins to cool

Housing Wire

Though the demand for homes remained strong across the United States in August, there are clear signs that the housing market is past its peak. A report from residential brokerage Redfin found that pending sales across 400 metro areas were up 6% year over year in the four weeks that ended Sept. 5. Still, the 69,563 homes that went into contract represented a 9% decrease from the high point set in May 2021.

article thumbnail

The housing market is trying to get back to normal

Sacramento Appraisal Blog

Normal? That’s not a word we’ve used much to describe the housing market lately, but we are finally starting to see some normalcy. Many parts of the country are showing what looks to be normal seasonal slowing and that is a sight for sore eyes. Anyway, let’s talk about this and then I have lots […].

article thumbnail

The Biggest Time Management Challenges for Appraisers

Appraisal Buzz

Time management challenges are a big issue for many property appraisers. Your income depends on how many appraisal assignments you can complete each month and each year—and you need time to produce each report. In other words, time is money. Last month we asked appraisers, “What’s one thing you wish you could STOP doing to save time in your workday?

Appraisal 370
article thumbnail

Three Ways Improving Housing Stability Can Make Long-Term Progress toward Racial Equity

Urban

How can changes in local and federal policy improve housing stability, housing affordability, and wealth building opportunities for Black, Indigenous, and Latinx communities?

178
178
article thumbnail

How PropTech Teams Can Benefit From Digital & Online Forms

GoForrmz

Digitally transform how you research, rent, buy, sell, and manage properties PropTech (Property Technology) is the newest real estate industry buzzword, highlighting real estate’s growing focus on modernizing and improving the industry through technology and the digital landscape. Companies like Zillow, Compass, Airbnb, and others, have helped pave the way for real estate’s digital transformation – proving that digital platforms can provide significant value for real estate teams.

Tenants 167
article thumbnail

Building Materials Prices: Large Increases Year-To-Date

Eyes on Housing

According to the most recent release of the Bureau of Labor Statistics Producer Price Index (PPI), the prices of goods used as inputs to residential construction including and excluding energy have risen 19.0% and 12.0%, respectively, year-to-date (YTD). In contrast, the index for final demand goods has climbed 7.2% and that for final demand goods less food and energy is.

article thumbnail

Mortgage rates stuck in a rut at 2.87%

Housing Wire

The average 30-year fixed-rate mortgage was flat at 2.87% for the week ending in Sept. 2, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates also held steady at 2.87%. This week’s near constant mortgage rates tracked with the 10-year Treasury yield , which has hovered around 1.30 for the past week.

Mortgage 529
article thumbnail

Buyers have a bit more power in today’s housing market

Sacramento Appraisal Blog

Are buyers finally gaining more power? Yes. The truth is the market is still ultra-competitive, but there is a slightly better chance buyers can get into contract these days and maybe not pay as much above the asking price (maybe). Teaching my favorite class: On September 28th from 9am-12pm I’m teaching my favorite class at SAR […].

Buyers 401
article thumbnail

FHFA House Price Index Up Nearly 20% from Last Year

Appraisal Buzz

House prices rose nationwide in July, up 1.4% from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI). House prices rose 19.2% from July 2020 to July 2021. The previously reported 1.6% price change for June 2021 was revised upward to 1.7%. For the nine census divisions, seasonally adjusted monthly house price changes from June 2021 to July 2021 ranged from +0.8% in the West North Central.

Finance 370
article thumbnail

From Industrial to Retail: A Deep Dive into Evaluating Commercial Real Estate

The Robert Weiler Company

When it comes to commercial real estate – both across the US and here in Columbus, Ohio – the diversity of enterprises and sheer size of the industry can be staggering. In fact, according to the US Energy Information Administration, there are an estimated 5.9 million commercial buildings in the US for a total of 97 billion square feet. By comparison, an Olympic-sized pool contains 13,455 square feet.

Retail 158
article thumbnail

[Video] GoFormz + Procore: Digitally Complete & Route Daily Construction Reports From The Field

GoForrmz

Complete digital Daily Construction Reports from the field and instantly upload forms and data to Procore The GoFormz and Procore integration enables construction teams to streamline and accelerate the completion of daily tasks and documentation. Leveraging digital Daily Construction Reports, contractors in the field can easily select a project name and instantly populate corresponding details, like the job site address.

article thumbnail

Women Make Up 10.9% of the Construction Workforce

Eyes on Housing

The number of women employed in the construction industry grew slightly in 2020, rising to around 1.17 million, while the construction industry lost 587,000 jobs in 2020 when the pandemic hit the economy. Currently, women make up a growing share of the construction employment, up to 10.9% in 2020 from 10.3% in 2019. As the construction skilled labor shortage remains.

article thumbnail

Pending home sales data crushes housing bears

Housing Wire

Today’s pending home sales came in at a big beat of estimates, running at 8.1% for this report. More importantly, this data line looks just right. One of my main goals for sharing housing sales data in 2021 is to give people a sales trend range to work off this year to know if home sales are doing well. Last year we had an abnormal burst of housing demand that was just make-up demand from the COVID-19 pause in the second half of 2020.

article thumbnail

September Newsletter- It’s Fall Ya’ll

DW Slater Company

Few Signs of Cooling. Fall is always an interesting time here in North Texas. Although we do not experience some of the beautiful fall colors or temperatures as other states, the weather does begin to change, leaves do begin to change their color and fall. There is typically only about 1-2 weeks of pretty fall color so I always try to notice it before a big gust of wind comes through and blows all of the leaves to the ground.

article thumbnail

“I do Non-Lender Work…” is the New CrossFit

Appraisal Buzz

You can hardly post anything on an appraisal forum or social media without the first 17 comments stating, “I do non-lender work.” This response reminds me of the fitness culture several years ago, when it felt as though everyone I met would first tell me that they did CrossFit, sometimes before even stating their name. Despite the way such statements are often delivered, it’s important to admit that these people are on to something.

article thumbnail

Home appraisals step by step

Midtown Appraisal Group

No one loves them, but they’re not that bad Whether you’re a homeowner looking to refinance your mortgage, a home buyer with your heart set on the dream home you finally found, or a home seller hoping that the conditional offer you got will finally firm up: Sooner or later there’ll be a need for […].

Appraisal 146
article thumbnail

ProTip: Leverage This Form Sharing Feature to Simplify HR Documentation

GoForrmz

Easily create and share digital forms with new hires and current employees Human resources departments often manage a company’s employees, new hire onboarding , recruiting, training, and all other related documentation. The tasks performed within this department range from arranging company benefits to hiring and onboarding employees - all requiring signed documents and creating paper pile-ups.

article thumbnail

Real Estate Market Values Spike in the Second Quarter

Eyes on Housing

The latest Federal Reserve Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that in the second quarter of 2021 the aggregate market value of all owner-occupied real estate in the United States registered the largest quarterly increase in the last 21 years of data. From $33.8 trillion in the first quarter of 2021, real estate.

article thumbnail

These are the hottest housing markets in America

Housing Wire

Despite several indicators of a slowing housing market, prospective home buyers should not get too excited – inventory remains limited and changes are in line with the traditional seasonal slowdown, according to RE/MAX ’s August national housing report. The report analyzes MLS data from 51 U.S. metropolitan areas and includes all residential properties.

article thumbnail

CEO discusses challenges facing appraisers

Valuation Review

As we’ve come through a full year living under pandemic conditions, what are some of the specific challenges for appraisers moving past COVID-19? ValueScape Analytics CEO William Leveson-Gower shares with Valuation Review his thoughts on this matter, and much more. Read on for the complete conversation.

article thumbnail

Do You Know Where Your Advances Are?

Appraisal Buzz

Aspen Grove discusses the recovery of advances for property inspection and preservation expenses continuing to challenge mortgage servicers (Sponsored Content). The post Do You Know Where Your Advances Are? appeared first on DSNews. The post Do You Know Where Your Advances Are? appeared first on Appraisal Buzz.

article thumbnail

7 Things to Do BEFORE Selling Your House

Raleigh Realty

Things You Should Be Doing When Selling Your Home Wondering what you should be doing to get your home ready to list for sale? Here are 7 things you should do before selling your house Are you considering selling your home, but maybe don’t know where to start? Should you hire a realtor or sell it on your own? What updates can you complete on your home to make it more marketable?

article thumbnail

3 Ways to Leverage the GoFormz and Acumatica Integration

GoForrmz

Streamline your construction workflow by integrating your GoFormz digital forms with Acumatica Improving your construction operation’s efficiency, communication, and professionalism begins with digitizing critical documents and workflows. Job site documentation is a common obstacle to productivity for construction operations – forms take ages to complete, require manual delivery and processing, and are often riddled with errors.