June, 2022

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After implosion, FGMC files for bankruptcy

Housing Wire

Less than a week after laying off hundreds of workers and refusing new mortgage applications, First Guaranty Mortgage Corp. (FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection late Wednesday. . “While we have made considerable efforts to address our ongoing financial challenges related to the state of the mortgage market, we ultimately must do what is best for our borrowers and consumers,” Aaron Samples, chief executive officer of FGMC, said in a

Lending 545
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A spike in listings & sitting on the market

Sacramento Appraisal Blog

The pile of listings is growing, and it’s taking longer to sell. That’s what so many housing markets across the country are experiencing right now. We’re on the cusp of seeing some real change in the stats over the next few months. Here are some things on my mind. Anything to add? Why have we […].

Marketing 463
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The Impact of New Technology in the Appraisal Industry

Appraisal Buzz

[link]. Today’s Buzzcast interview is with Jeff Allen, President of Cubicasa and Nikki Rinkus, Staff appraiser from Clario. We sat down with Jeff, Nikki, and Joan Trice, Founder of Allterra Group, LLC, to discuss new technology and what appraisers need to know about the future of appraisals and technology. What are some examples of new technology in the appraisal industry?

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Is this a Time of Ripeness?

George Dell

This week’s blog, Is this a Time of Ripeness? is a guest post written by Steven Smith, MSREA, MAI, SRA, AG. See below for a more detailed bio. Appraisal sins are forgiven when the markets are strong, and prices are increasing at double digit rates as they have been. Once prices stop going up, deficiencies […]. The post Is this a Time of Ripeness?

Appraisal 368
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What Do Home Buyers Buy after Moving

Eyes on Housing

NAHB analysis of Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics shows that during the first year after closing on a home sale, home buyers tend to spend considerably more money on furnishings, appliances and remodeling compared to non-moving owners. Buyers of new homes spend most, spending four times as much as non-moving owners and twice as.

Buyers 218
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How Can Appraisers Dress in This Heat?

DW Slater Company

It’s summer and in some parts of the country it is getting very hot! Here in North Texas we have been in a heat wave , that seems to have no end in sight. Every day this week heat advisories have been issued and it can be challenging to be out in it. In a previous post about how to dress, I discussed the importance of dressing professionally and practically.

Appraisal 195

More Trending

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Buyers gaining power & farewell real estate honeymoon

Sacramento Appraisal Blog

Sellers haven’t had to negotiate much with buyers over the past two years, but that’s starting to change. Let’s talk about this today by looking at seller concessions (credits for repairs, help with closing costs, etc…). I hope you enjoy, whether you’re local or not. THE HONEYMOON IS OVER: It’s like the market was on […].

Buyers 449
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Fixed-Rate Mortgage Rate Average Jumps Nearly 3 Percent in a Year

Appraisal Buzz

Freddie Mac ’s Primary Mortgage Market Survey (PMMS) results show the 30-year fixed-rate mortgage averaged 5.78% with an average 0.9 point as of June 16, 2022, up from last week when it averaged 5.23%. A year ago at this time, the 30-year FRM averaged 2.93%. “Mortgage rates surged as the 30-year fixed-rate mortgage moved up more than half a percentage point, marking the largest one-week increase in our survey since 1987,” comments Sam Khater, Freddie.

Mortgage 370
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Part 0: How Do We Fix the Excess of Appraisers?

George Dell

How can we fix the excess of appraisers? Easy — we do what we have always done, each time. 1) We will raise the standards (“cost of entry”). 2) We will make it harder to become an appraiser; 3) Let the lower fees discourage newcomer appraisers. In past issues of the Analogue […]. The post Part 0: How Do We Fix the Excess of Appraisers?

Appraisal 366
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Rapidly Rising Building Materials and Freight Prices Push Construction Costs Higher

Eyes on Housing

The prices of goods used in residential construction climbed 1.8% in May (not seasonally adjusted) and have increased 19.4%, year-over-year, according to the latest Producer Price Index (PPI) report. Prices have surged 40.4% since January 2020. Building materials (i.e., goods inputs to residential construction, less energy) prices have increased 5.4%, year-to-date, and are 36.3% higher than they were in May.

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The Wylie Ax Murder House- Does Murder Impact the Value of Real Estate? 

DW Slater Company

via GIPHY. On June 13, 1980, I was just a young soon-to-be 6th grader living near the Houston, TX area. I did not hear about Candy Montgomery. Thankfully, I was unaware of how Candy came over to Beth Gore’s house on Friday the 13th and murdered her with 41 blows from an ax. I did not know how she did this in between Vacation Bible School and went about her day as if nothing had happened.

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The savagely unhealthy housing market is now a nightmare

Housing Wire

The housing nightmare continues. The National Association of Realtors (NAR) reported that existing home sales for April came in at 5.41 million , down 3.4% from the previous month and 8.6% from last year. But, the savagely unhealthy data line was that home prices are up 14.8%. Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, has

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Ten things to know about price reductions in today’s market

Sacramento Appraisal Blog

Price reductions are growing fast and sellers are still behind the ball. Eventually they’ll catch up, but they haven’t gotten there yet. Let’s talk about price drops today in the Sacramento region. Is the trend similar in your area? Let me know what you’re seeing. TRUTHS ABOUT PRICE REDUCTIONS 1) Nearly 40% of active listings […].

Sellers 422
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Still Using a Clipboard and a Tape Measure? Get an Inside Look at Tech-Enabled Valuation Solutions

Appraisal Buzz

Technology will continue to infiltrate the industry – learn about how ProxyPics technology and tools will put you at the forefront of real estate transactions as the GSEs continue to evolve valuation options in the digital age. Join us for our upcoming webinar, “ Still Using a Clipboard and a Tape Measure? Get an Inside Look at Tech-Enabled Valuation Solutions ” on June 14th at 2 pm with Luke Tomaszewski, Vin Vomero, and Jordan Yount.

Valuation 370
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GoFormz Named #1 Mid-Market Mobile Forms Automation Solution

GoForrmz

GoFormz dominates the Small-Business and Mid-Market G2 Summer Reports – from Best Support to Most Likely to Recommend G2, the leading peer-to-peer software review site, awards quarterly honors based on user feedback and reviews. This Summer, GoFormz has been awarded top honors in the following G2 categories: Mobile Forms Automation, Online Form Builder, and No-Code Development Platform.

Marketing 148
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The Aging Housing Stock

Eyes on Housing

The median age of owner-occupied homes is 39 years, according to the latest data from the 2019 American Community Survey. Compared to a median age of 31 years in 2005, the U.S. owner-occupied housing stock is aging gradually. The residential construction continues to fall behind in the number of new homes built especially after the Great Recession. This aging housing.

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June Newsletter-Easing Off the Pedal

DW Slater Company

When I was a young poor college student, I got a speeding ticket. When the officer asked me how fast I was going, I told him truthfully that I didn’t know. You see my speedometer had stopped working in my car and I didn’t have the extra funds to fix it so I just drove along with everyone else. Well, in this case, everyone else was speeding. I was the lucky gal that got the ticket.

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Solid job growth defies recession talk — for now

Housing Wire

Some Americans believed we entered a recession at the start of 2022; however, the jobs report for May came in at 390,000, dashing any hopes that this was the case and starting their weekend on a foul note. We did have some minor negative revisions to the prior reports, but the 10-year yield stayed firm after the announcement at 2.95%, with no real movement.

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Guide to Buying Apartment Buildings for Sale in Ohio

The Robert Weiler Company

Ohio is one of the top five tax climates in the United States, so it is not surprising that you are looking at the various apartment buildings for sale in Ohio as a lucrative investment. However, an investment in real estate is not something you should jump into without preparation. This purchase can be a great asset, as long as you make a wise choice.

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House Passes Measure to Increase Financial Equity and Inclusion for All

Appraisal Buzz

The House of Representatives passed HR 2543 by a vote of 215-207, legislation drafted to promote equity for underserved communities and increase access to safe and affordable financial services for all Americans. The post House Passes Measure to Increase Financial Equity and Inclusion for All appeared first on DSNews. The post House Passes Measure to Increase Financial Equity and Inclusion for All appeared first on Appraisal Buzz.

Appraisal 369
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[eBook] How to Use Calculations in your Digital Form Template

GoForrmz

Leverage Calculations within your digital form Templates to streamline processes, instantly provide totals, and protect data integrity. Features like Calculations allow your form fields to perform anything from simple addition or multiplication to complex Conditional Logic. GoFormz has a Calculation Builder which provides form builders with an intuitive approach to adding calculations to your Template’s form fields and can be easily accessed directly within the Template Editor.

Business 148
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Consumer Confidence Fall to 16-Month Low Amid Inflation Concerns

Eyes on Housing

Consumer confidence dropped again in June as inflation stayed at decades high and continued to temper consumers’ economic outlook, which tumbled to the lowest level in nearly a decade. Though spending intentions for homes, cars, and major appliances held relatively steady, consumer spending will continue to face headwinds from further inflation and rate hikes.

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35 Unique Things To Do in Raleigh North Carolina in 2022

Raleigh Realty

If you're searching for things to do in Raleigh, North Carolina, we have you covered. In fact, whether you’re planning a staycation or looking to have a night out, we have recommendations you’re sure to love. Please allow us to welcome you to one of the world's best cities. If you're moving to Raleigh, then there's a good chance you've already discovered the magic of the City of Oaks.

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Opinion: Title insurance is vital to protecting the American dream

Housing Wire

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives. Title insurance is imperative for lenders to ensure the borrower has ownership rights to a property, but it doesn’t just protect against problems affecting title.

Insurance 506
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6 TED Talks Every Real Estate Agent Should Watch

McKissock

Being a real estate agent can be really hard. It consists of long days, fickle clients, failed closings, and so much more. But it’s also highly rewarding. Finding a client the perfect home or selling a property for a family desperate to move—not to mention the financial rewards that come with being a great agent—all feel wonderful. Still, when times are tough, it helps to have a source of motivation, inspiration, and insight.

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6 Excel Training Resources for Real Estate Appraisers (Free for Members)

Appraisal Buzz

The use of Microsoft Excel is widespread in the appraisal industry. In a recent survey, Excel was among the top four software tools on which appraisers said they’d like additional training. Are you looking for new and better ways to leverage Excel tools in your appraisal business? Here are six Microsoft Excel training resources for real estate appraisers—exclusively available to McKissock Unlimited Learning Members.

Training 370
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5 Activities To Prioritize During National Safety Month

GoForrmz

Prioritize your employee safety: keep each other safe in the workplace Regardless of your business type, safety is imperative in everything you do. From tracking inventory, to using ladders or forklifts, to working on a construction job site, monitoring health and safety is something every business must be aware of. The question is, what health and safety measures does your organization have in place?

Training 148
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Construction Job Openings Jump

Eyes on Housing

The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs jumped to 449,000 unfilled positions in April. This is the highest measure in the history of the data series (going back to late 2000). The housing market remains underbuilt and requires additional labor, lots and lumber and.

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Why Invest in Travel Nurse Housing in 2022 & How to Start

Mashvisor

If you’ve thought about investing in travel nurse housing in 2022, here’s what you should consider before putting your plan into reality. Table of Contents What Are Travel Nurses?

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JPMorgan Chase starts to cut mortgage jobs

Housing Wire

JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%. “Our staffing decision this week was a result of cyclical changes in the mortgage market ,” a spokeswoman for JPMorgan wrote in a statement on Wednesday.

Mortgage 498
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Housing Market 2022: 10 Tips for Sellers

Listing Spark

Hey, real estate fans! Unless you’ve been living underneath a rock, you have likely heard talks of a housing market bubble that could burst at any moment. Don’t worry – we’re not seeing any crashes anytime soon. The real estate industry has been experiencing some shifting trends lately, and when compared to the last crash, there are plenty of factors that make this time different from 2008.

Sellers 69
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MCT Releases MSR Technology for Mortgage Servicers with Live Loan-Level Pricing

Appraisal Buzz

Mortgage Capital Trading (MCT), a mortgage hedge advisory and secondary marketing software firm, has introduced a new technology for mortgage servicing rights (MSR) buyers to produce more granular pricing for mortgage servicing. The feature leverages an application programming interface (API) to connect MSRlive!, MCT’s state-of-the-art MSR valuation platform to clients’ systems for more precise and accurate loan-level pricing in real time.

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Property rental data now in ClearProp

Clear Capital

We’re excited to announce that property rental data is now available in ClearProp , the lending-grade, industry-leading valuation tool. With the addition of rental and lease information on over 16 million properties across the U.S., users can now review nearby rental listings and calculate a comparable-based rental estimate in real-time. You can experience at no cost*, ClearProp’s deep rental property and interactive valuation data by registering at portal.clearcapital.com.

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Regulation: 40.6 Percent of the Cost of Multifamily Development

Eyes on Housing

Recently, the National Association of Home Builders (NAHB) and the National Multifamily Housing Council (NMHC) undertook a joint research effort to find out how much government regulation adds to the cost of building new multifamily housing via a survey distributed to multifamily developers. The research finds that an average of 40.6 percent of total development costs can now be attributed.