September, 2021

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.

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.

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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.

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.

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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.

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Why Courses Only in Data Science?

George Dell

Many of you ask why we only teach courses using a data science approach to valuation. The answer is quite simple: It’s comprehensive, covering existing aspects of valuation. It sharpens the judgment involved with traditional methods.

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.

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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.

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.

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.

Statistics: Part of Modernized Valuation?

George Dell

Modernized Appraisal is a necessary part of coming lending regulation. Some think old methods are just fine. Others think advanced quantitative methods are necessary. What to do? Most of us started out learning about things like median, mean, maximum, minimum, and even standard deviation.

End of forbearance programs won’t result in housing crash

Housing Wire

One year ago this month, I coined the term forbearance crash bros , an updated name for the housing bubble boys who never got their housing crash in 2020 so they moved the collapse of housing to 2021.

Tracking the Geography of Home Building: Housing Affordability Metrics

Eyes on Housing

Housing affordability has gained increased attention in recent quarters due growing home prices and rents.

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.

Small Equals Big

The Appraiser Coach

Small changes can lead to big improvements. At some point, within almost every coaching session, I believe that some version of this topic comes up. I’ll suggest a fairly minor. Read More.

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

Sacramento Appraisal Blog

Are buyers finally gaining more power? 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).

An Appraisal Bias Enigma?

George Dell

Are valuation procedures a set up for bias failure? Let’s look to see what systemic issues there may be regarding bias in valuation. This is an enigma of multiple overlapping issues.

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.

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.

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?

The Best Idea for IT Support for Your Appraisal Office

The Appraiser Coach

Technology is important to your business. Sometimes, it can be a challenge to keep your computer, your systems, your network, your internet, and the software you use all running and. Read More.

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.

Fear of Science?

George Dell

Science is systematic way to build and organize knowledge. What’s to fear? Science is a search for the truth. Scary. How can the search for truth be scary?

Existing home sales pop the 2021 housing bubble boys

Housing Wire

The National Association of Realtors reported existing home sales for August came in at a very tiny beat of estimates at 5,880,000.

Share of New Homes With 4 or More Bedrooms Jumped in 2020

Eyes on Housing

The U.S. Census Bureau Survey of Construction’s (SOC) 2020 estimates of the shares of the number of bedrooms in new single-family homes showed a sharp upswing in the percentage of new homes started with 4 or more bedrooms, unlike in prior recent years.

“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.”

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.

Medical Professionals Moving Guide: Healthcare Relocation Resources

Raleigh Realty

Medical Professionals Moving Guide: Healthcare Relocation Resources Are you a healthcare professional who is looking to move to a new city? Here are some tips and tricks to help make the process easier Healthcare professionals, especially today, are a vital component of society.

Can Government Reform Government?

George Dell

Reform? What is the real problem? We know of meltdowns. We hear of bias. And we see the “American Dream” may be just a dream. So what about government? And what part might appraisals play in these issues? More importantly, what keeps us from implementing solutions?

Supply of new homes shows a stabilizing housing market

Housing Wire

Today the Census Bureau ‘s new home sales report came in as a beat of estimates at 740,000, but the most important aspect is that revisions came in positive for the prior months, which shows a more stable market as revisions are always key with new home sales and housing starts.

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%

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Construction Numbers Pushed Higher by Multifamily Surge; Potentially Big Day Ahead For Rates

Appraisal Buzz

Residential construction numbers were a surprise again in August. Permits for construction and housing starts were both higher than expected, however, multifamily numbers were driving the results. Housing permits were issued at a seasonally adjusted annual rate of 1.728 million units, a 6.0

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

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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?

Housing permits hold the key for economic expansion

Housing Wire

On Tuesday, the U.S. Census Bureau reported that housing starts hit 1,615,000 for August and housing permits came in nicely at 1,728,000. These data lines beat expectations, and we had slight positive revisions to the previous months — overall, a good report on all fronts.

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%.

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).