August, 2021

Homebuyers flock to Florida real estate

Housing Wire

The Sunshine State seems to be getting a lot more foot traffic these days, with the number of homebuyers moving to Miami tripling year-over-year, a new analysis found.

Have You Ever Calculated Your Hourly Rate?

Appraisal Buzz

One of the most important math calculations in an entrepreneurs toolbox is knowing what the value of an hour is worth. We tend to call this calculation ‘dollars per hour,’ as in, “I just billed out $200 per hour,” or “I make $100 per hour.”

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28,000 Reasons to Have Your Home Measured Before You List It

Cleveland Appraisal Blog

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. I’ve written about this topic in the past.

Get Non-Lender Work with Video

The Appraiser Coach

As a coach, I’m teaching appraisers on a constant basis. A lot of them are interested in doing non-lender work but they aren’t sure how to attract that work. Really, Read More.

10 ways the housing market is slowing

Sacramento Appraisal Blog

The housing market has turned the corner and we are seeing definitive slowing. Here are ten ways I’m seeing slowing in the market. If you’re not local, what are you seeing in your area? NOT DULL: The market is slowing, but it’s not dull. It is still really competitive.

Can You Measure Market Velocity?

George Dell

“Appraisal is market analysis!” is the title of a 1975 journal article by Richard Ratcliff, MAI. Freddie Mac Chief Appraiser Scott Reuter recently noted pervasive market analysis deficiencies in appraisal opinions. Specifically, discrepancies from actual contract prices.

Here’s where the oldest and youngest homeowners live

Housing Wire

Have you ever considered the median age of homeowners in your area? According to a study conducted by LendingTree, homeowners gravitate towards specific parts of the country depending on their age.

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Why You Should Have Your Home Measured Before You List It

Cleveland Appraisal Blog

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. I’ve written about this topic in the past.

Phone Apps for Productivity

The Appraiser Coach

I’m big on technology. One of my most used pieces of technology is my smartphone. I wanted to share with you some of the apps that I use all the. Read More.

Unrealistic sellers & my favorite housing analogy

Sacramento Appraisal Blog

I have three things on my mind today. I’d love to share a helpful analogy for today’s housing market, let’s talk about unrealistic seller expectations, and then unpack some fresh stats.

Picking Comps: Manual or Powered?

George Dell

Picking comparable sales is critical. Selecting the ‘best’ four or five ‘comps’ requires experience and training. Appraisal education tells us a good comparable is competitive, similar, and able to be compared.

Is the Fed creating a housing bubble by keeping rates low?

Housing Wire

Remember that pretty girl from your history class in college — the one who would blow hot and cold, so you never really knew what she was thinking? The U.S. housing market can be like that girl: you can get many mixed messages (especially about a housing bubble) unless you are paying attention.

Appraisers: Pay Attention to Policy

Appraisal Buzz

Local, State, and Federal policy can play a significant role in an appraiser’s business – it is important to stay informed about what is happening around us. Most appraisers have been busier than ever over the past year and may be struggling to keep up with deadlines.

Are Home Buyers Regretting Their Purchase?

Cleveland Appraisal Blog

There has been a sense of urgency, and sometimes almost despair, for some looking to purchase a home. There are some news stories I have seen recently where some homeowners regretted their purchase. Do you know of anyone who purchased a home within the past year? Did they regret their decision?

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How Much Should You Make Each Month?

The Appraiser Coach

How much do you need to make each month? While it’s going to vary from person to person, you should know how much you need every single month in order. Read More.

How bedroom value adjustments DO NOT work

Sacramento Appraisal Blog

How much is a bedroom worth? What sort of adjustments do you give when looking at two houses with a difference of one bedroom? It’s always $10,000, right? Or wait, someone else said $20,000. What’s the truth? Let’s talk about this today.

Is Appraisal Scientific?

George Dell

“Appraisal is not an exact science” are words I used to hear a lot. This understandable view leaves much to be explained. In the USA, appraisal is an opinion of value by an appraiser. Licensed, and when required, for “federally related transactions”.)

This is not 2008 all over again for the housing market

Housing Wire

When you hear people say that the current housing market is like 2008 all over again, you may want to remind them of the huge differences between this market and that one. The previous economic expansion, from 2010-2019, wasn’t a housing bubble.

Stewart Strengthens Analytics Abilities with Informative Research Acquisition

Appraisal Buzz

Stewart Information Services Corp. is acquiring Informative Research (IR), a credit, consumer and real estate data and technology services provider. IR serves more than 3,000 customers across the U.S. The purchase price is $192 million and will be funded with available company resources.

Annual Home Price Gains Hit Record High in June

Eyes on Housing

In June, national home prices continued to rise at a fast and unsustainable rate. Strong demand and low housing inventory have been driving home prices at double-digit growths for eleven months.

Become the “Go To” Appraiser in Your Area

The Appraiser Coach

Near my office there are two convenience stores but I only ever go to one of them. Really, there isn’t anything terrible about the one I don’t go to, but. Read More.

Just say NO to subjective language in real estate

Sacramento Appraisal Blog

Is it a poor neighborhood? Is it rich? Is the neighborhood desirable or undesirable? Is it family-friendly? Is it crime-ridden? These are words some might use to describe certain neighborhoods, but they’re 100% off limits for appraisers (and probably other real estate professionals).

Modernizing Appraisal: How Do I Prepare?

George Dell

We have heard a lot about “modernizing” the appraisal process, particularly from the GSE’s (Fannie Mae and Freddie Mac). What is clear, is that the path is not clear. The GSEs, pressing for an improved valuation product, are in a difficult situation. On one hand, they are supposed to cooperate.

Home sales beat estimates: no housing crash in sight

Housing Wire

The National Association of Realtors reported 5.99 million home sales for July, which was an excellent beat of estimates and a dagger into the hearts of the 2021 housing crash crew.

Marketing Yourself as an Appraiser

Appraisal Buzz

In today’s Buzzcast, we dive into the Business-Building Workshop, “Marketing through Social Media” being held at Valuation Expo on September 8th. Today we have Blaine Feyen, Owner of Feyen Appraisals, with Joan Trice, Founder of Allterra Group, LLC.

Builder Confidence at 13-Month Low on Higher Material Costs, Home Prices

Eyes on Housing

Builder sentiment in the market for newly-built single-family homes fell five points to 75 in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index is at its lowest point since July 2020.

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Appealing Property Taxes with a Real Estate Appraisals

The Appraiser Coach

Sometimes your home is assessed at more than it is actually worth on the current market which could result in you paying higher property taxes than you should. Getting a. Read More.

Fires, multiple offers, & new flooring

Sacramento Appraisal Blog

It’s been a heavy week around here and I have a few things on my mind. Let’s talk about the fires, the new norm of fire season, and then I have some fresh stats to share. Fire rampage: It’s been a brutal week in Sacramento. I think so many locals feel deflated as we watch […].

On-time rent now counts in Fannie Mae underwriting

Housing Wire

On-time rental payments will now factor in to Fannie Mae underwriting calculations, and missed rental payments won’t keep borrowers from getting a mortgage.

Why aren’t builders creating more housing inventory?

Housing Wire

Today, the U.S. Census Bureau reported that housing starts hit 1,534,000 for July, missing estimates. Permits, on the other hand, beat estimates, coming in at a seasonally adjusted rate of 1,635,000. Positive revisions to the previous data were made, but not by very much.

Alterra Promotes Marc Hernandez to President

Appraisal Buzz

Company leaders say the former EVP is one of just a handful of Hispanic Presidents in independent mortgage banking and that the move reflects a commitment to diversity. The post Alterra Promotes Marc Hernandez to President appeared first on theMReport.com.

New Single-Family Home Size is Rising

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 is occurring.

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Accountability is Key

The Appraiser Coach

Statistically speaking, the overwhelming majority of people have given up on or pushed aside their New Year’s Resolutions by March of any given year. This doesn’t mean that the goals. Read More.

Delta variant fears send 30-year mortgage rates to 2.77%

Housing Wire

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%.

FHFA proposes ambitious housing goals for GSEs

Housing Wire

The Biden administration will use the most effective tool in its toolkit to increase minority homeownership: the Federal Housing Finance Agency (FHFA).

3 mortgage industry trends that will define the rest of 2021

Housing Wire

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market.

Weekly Forbearance Volume Drops

Appraisal Buzz

Still, the number of on-hold home loans continues to decrease on a month-over-month basis, and more than 400k plans expire next month. The post Weekly Forbearance Volume Drops appeared first on DSNews. The post Weekly Forbearance Volume Drops appeared first on Appraisal Buzz. Around The Web