Eyes on Housing
MAY 22, 2023
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as interest rates reached historic lows. However, as interest rates increased in 2022, and housing affordability worsened, the demand for home size has trended lower. According to first quarter 2023 data.
Inman
MAY 10, 2023
Agents should be prepared to answer their buyer's mortgage questions, including types of mortgages, lender guidelines, preapproval vs. prequalification and the closing process in the area.
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National Association of Realtors
MAY 8, 2023
Proper documentation can help appraisers evaluate high-performance home features. From the 2023 REALTORS® Legislative Meetings in Washington, D.C.
Housing Wire
MAY 28, 2023
Debt-ceiling drama pushed bond yields up last week, taking mortgage rates to a new 2023 high in the middle of the spring home-selling season. Active housing inventory , thankfully, saw some decent growth last week. Purchase application data had a second straight week of declines. Here’s a quick rundown of the last week: Active inventory grew 8,914 week to week, even though new listing data is still trending at all-time lows in 2023.
BiggerPockets
MAY 15, 2023
The latest data from the Emerging Housing Markets Index is out. Here are the markets that made the top 20 list.
Real Estate News
MAY 27, 2023
Don’t let this transformative moment intimidate you. Industry experts Stefan Swanepoel and Jack Miller of T3 Sixty say it’s an opportunity built on history.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
MAY 8, 2023
It can be hard to know which type of photographer will show up at your property. Here are some best practices to ensure your listing (and your client) are set up for success.
Boston Appraisal
MAY 17, 2023
The process of determining a property’s market value is called a real estate appraisal. The person who appraises the property, the appraiser, physically inspects the property to measure it, take pictures of it, and make note of the condition and the quality of the construction. The appraiser also needs to be aware of the zoning regulations, city ordinances, and other restrictions that can affect the value of the property.
Housing Wire
MAY 10, 2023
Did you hear that sound? That’s the entire mortgage industry shouting, “hip, hip hooray!” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. The FHFA, which regulates Fannie Mae and Freddie Mac , had previously delayed implementation of the DTI LLPA from May 1, 2023 to August 1, 2023 following a chorus of upset fro
DataMaster
MAY 17, 2023
Add comparable sales to the list of things Millennials have killed. We joke, of course, but the truth is Millennial – And yes, Gen Z – homebuyers have a way of thinking and behaving that is far different from what industry veterans are used to. It could be argued that this behavior is market-driven. To illustrate this point, Here’s the story of one Millennial homebuyer’s process.
Real Estate News
MAY 11, 2023
President and CEO Nick Bailey — a 30-year industry veteran — takes a long-term perspective on real estate, and he already sees positive shifts.
Eyes on Housing
MAY 16, 2023
Limited existing inventory, which has put a renewed emphasis on new construction, resulted in a solid gain for builder confidence in May even as the industry continues to face several challenges, including building material supply chain disruptions and tightening credit conditions for construction loans. Builder confidence in the market for newly built single-family homes in May rose five points to.
Inman
MAY 16, 2023
Office-to-residential conversions are on the upswing as remote work destabilizes commercial real estate nationwide. "Everything is on the table," affordable housing advocate Janan New told Inman.
GoForrmz
MAY 8, 2023
Digital forms for your small business In today’s tech space, small businesses are going digital, and it’s clear why. This mass digital transformation kicked off in 2020. Covid lockdowns had forced businesses and customers across the globe to go online. More small businesses than ever were going digital to survive. Mike Katz, executive Vice President of T-Mobile for Business wrote , “Before Covid-19, one small business in three had never made a digital sale.
Housing Wire
MAY 10, 2023
The massive inflation and double-digit mortgage rates of the 1970s and early 1980s seem to haunt the Federal Reserve , which wants to cool the economy and even provoke a job-loss recession to avoid that scenario. But the latest Consumer Price Index inflation report shows how the fear of 1970s-style inflation is wildly overblown. Today’s numbers don’t look like the 1970s at all, when rent, wages, and oil shocks sent inflation running hotter than anything we have seen in recent modern-day hi
Appraiserblogs
MAY 5, 2023
The recent case of Paschal Uchendu, a convicted felon awaiting sentencing for orchestrating a $1.2 million armed robbery of a courier van, which he was entrusted to secure, is cause for alarm when it comes to the use of unlicensed property data collectors. The largest appraisal management company had hired Mr. Uchendu as one such property data collector despite his criminal background and pending legal issues – clearly demonstrating their lackadaisical attitude towards vetting employees who are
Real Estate News
MAY 2, 2023
During his five decades as a member of HAR and 35 years as president and CEO, Hale has driven innovation in his organization and the industry at large.
Eyes on Housing
MAY 31, 2023
The count of open, unfilled jobs for the overall economy moved higher in April, rising to 10.1 million and complicating the June Federal Reserve decision. The higher job opening count for April increases the chance of another rate hike despite some speculation that May was the end of tightening. The count of open jobs was 11.8 million a year ago.
Inman
MAY 18, 2023
Sisu, a proptech that combines sales cycle and workflow automation with performance tracking technology, said Client Portal 2.0 aims to refine how agent teams interact with critical vendors.
GoForrmz
MAY 2, 2023
Prioritize safety without the burden of additional paperwork It’s officially Construction Safety Week, and it’s no secret that OSHA’s updated fine multiplier might be giving construction teams everywhere some additional motivation to keep safety top of mind. While the safety mandates and guidelines haven’t changed, the increased violation penalties put more pressure on businesses to prioritize safety.
Housing Wire
MAY 18, 2023
Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. Why is this so important to me? If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. I would say it’s savagely unhealthy to have that level and even though we’re not there yet, we are dangerously close.
Premier Home Appraisal Blog
MAY 30, 2023
My home appraisal saved me money! Are you tired of paying for private mortgage insurance (PMI) every month? You can remove it and save thousands of dollars! PMI is typically required when you put down less than 20% on the purchase of a home, but once you reach the equity threshold of 20%, you may be eligible for PMI removal. That's where our home appraisal for PMI removal comes in.
Real Estate News
MAY 23, 2023
As existing home listings have fallen, the inventory of new homes has increased — and prices have dropped — making them an attractive option.
Eyes on Housing
MAY 1, 2023
Improvements in affordability expectations have led to an increase in the share of prospective buyers who have moved beyond just the planning phase of their home search: 56% report being actively engaged in the purchase process in the first quarter of 2023, up from 46% a quarter earlier. The share of prospective buyers actively searching for a home rose in.
Inman
MAY 26, 2023
The home in Studio City was renovated by HGTV in 2019 and has since been used in a number of the network's specials and series. Now one lucky buyer will be able to keep a piece of television history.
Kairos Appraisal Services
MAY 1, 2023
If you have plans for home buying, selling, or refinancing, it will likely require an appraisal. While the mortgage lender will order the appraisal to ensure that they are not issuing a loan for more than what the property is worth, it’s still best for buyers and sellers to understand the home appraisal process and… The post Understanding the Different Types of Home Appraisals appeared first on Kairos.
Housing Wire
MAY 23, 2023
In a country with more than 330 million people, there are only 70,000 new homes available for sale today in the U.S. housing market. And with total active house listings in America near all-time lows, that is all we have for completed units for sale. The number of new homes doesn’t ever get into the millions, but we are still working our way back to the pre-COVID levels of 80,000 to 100,000.
Premier Home Appraisal Blog
MAY 17, 2023
Price like a Real Estate Appraiser! Are you a real estate professional or mortgage lender looking to learn more about the home appraisal process? We can help! Let our experienced certified Virginia appraisal experts be the premier source of home appraisal knowledge for your market. Matt and his team have been invited to host an information-packed interactive training session that brings the nuts and bolts of residential property appraisal right to your fingertips.
Real Estate News
MAY 11, 2023
The U.S. has never defaulted on its debt, but without government action, it could happen by June 1 — leading to a surge in mortgage rates and monthly costs.
Eyes on Housing
MAY 15, 2023
Over the first three months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 191,695. On a year-over-year (YoY) basis, this is 31.1% below the March 2022 level of 278,189. Year-to-date ending in March, single-family permits declined in all four regions. The Northeast posted a decline of 20.5%, while the West region reported the steepest decline.
Inman
MAY 12, 2023
Moving Medicine Partners will launch as a national network of agents later this month with St. Louis relocation specialist Zoe Cangas leading the new initiative, Inman has learned exclusively.
McKissock
MAY 20, 2023
What’s it like getting started in the appraisal business? We sat down with young appraiser, Lindsay Onuffer, to find out. Lindsay is a 22-year-old appraiser trainee in Pennsylvania. Below, she shares why and how she began her appraisal career, what her job is like, and advice for others who are interested in the appraisal business. Q: What made you want to get into appraisal?
Housing Wire
MAY 21, 2023
It was a wild ride for the housing market last week! The 10-year yield rose noticeably, sending mortgage rates near 7% right in the heart of the spring selling season. New listings data fell, however, active inventory grew. And purchase apps had a weekly negative print, continuing the 2023 theme of higher rates impacting the data. Here’s a quick rundown of the last week: Total active listings grew by 3,809 weekly, but new listings are still trending at all-time lows.
Kairos Appraisal Services
MAY 15, 2023
Are you ready to put your house on the market and sell your home? You may wonder how your real estate agent arrived at a sales price and what factors influence your home’s appraised value. Whether you are delightfully surprised or disappointed in the pricing recommendation, it’s helpful to understand how homes are valued. While… The post 6 Factors That Impact a Home’s Appraised Value appeared first on Kairos.
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