April, 2023

article thumbnail

Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean

BiggerPockets

New mortgage rules set by the FHFA sent the investing community into panic. But what do these new rules actually mean?

article thumbnail

Housing Market Tracker: Inventory finally rises

Housing Wire

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. We didn’t see too much volatility in mortgage rates last week, but purchase apps declined in reaction to rates rising two weeks ago.

Inventory 545
Insiders

Sign Up for our Newsletter

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

article thumbnail

3 Things An Appraisal Should Tell You That You May Not Know

Cleveland Appraisal Blog

With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? With a few quick online searches, in most areas, you can find the parcel number, legal description, and even some potentially comparable sales. Isn’t that all that appraisers do? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value?

Appraisal 354
article thumbnail

Opendoor lays off 22% of its workforce in latest round of cuts

Inman

In total, the company cut 560 positions, according to a statement Opendoor provided to Inman. The cuts, which were announced internally Tuesday morning, primarily focused on operations roles.

article thumbnail

States with Highest and Fastest Rising Construction Wages

Eyes on Housing

Despite a housing market slowdown but reflecting persistent long-term labor challenges, wages in construction continue to rise, often outpacing and exceeding typical earnings in other industries. According to the latest Current Employment Statistics (CES) report from the Bureau of Labor Statistics (BLS), average hourly earnings (AHE) in construction vary greatly across 43 states that reported these data.

article thumbnail

Your Ohio Commercial Property Reassessment Cheat Sheet [2023 Update]

The Robert Weiler Company

With recent headlines focused on politics, protests, and international disputes, Ohio commercial property owners may have overlooked or forgotten that a statewide property tax reassessment (also referred to as a reappraisal) is underway. Ohio law stipulates that a comprehensive property reassessment is completed every six years , with an update at the three-year midpoint.

More Trending

article thumbnail

Homepoint to shut down originations biz, sell assets to The Loan Store

Housing Wire

Shrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store , the company announced on Friday. Michigan-based Homepoint is “winding down” its tenure as a direct participant in the mortgage origination business and becoming an investor in the market, as the company will hold an equity interest in The Loan Store.

Business 519
article thumbnail

The Importance of Getting Hybrid Appraisals Right

National Association of Realtors

A more streamlined appraisal process won’t materialize until lenders and appraisal management companies understand the critical need for credible, independent data collection.

article thumbnail

Here’s every AI platform real estate agents need to know about in 2023

Inman

Tools such as ChatGPT and DALL-E have opened the artificial intelligence floodgates and promise to permanently transform the way agents operate. But there's so much more to explore.

article thumbnail

Affordability Pyramid Shows 64.8 Million Households Cannot Buy a $250,000 Home

Eyes on Housing

As described in a previous post, NAHB’s recently released its 2023 Priced-Out Estimates, show that 96.5 million households are not able to afford a median priced new home, and that an additional 140,436 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how many households have.

189
189
article thumbnail

Warehouse Space in Columbus, Ohio: 17 Actionable Steps to Find, Lease & Organize Your Next Hub

The Robert Weiler Company

Warehouse space in Columbus, Ohio and throughout the United States is disappearing as it’s becoming scarcer and pricier. However, thanks to the continuing popularity of e-commerce and online sales, the demand for warehouse space for rent is rising. This is particularly the case in the major population centers. The pandemic created a spike in e-commerce sales and the need for data centers, transforming the industrial real estate market both nationally and locally, in Columbus, Ohio.

Tenants 144
article thumbnail

Making $1,200/Month from ONE Rental After Bouncing Back from a BAD Deal

BiggerPockets

How do you bounce back after waiving inspections, finding out your $100K rehab costs are actually $360K, losing your earnest money deposit, and ultimately having to walk away from your […]

article thumbnail

Housing Market Tracker: Inventory falls even lower

Housing Wire

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Purchase application data rose again, with more positive than negative data in 2023. Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number.

Inventory 537
article thumbnail

Long List of Lamacchia Realty REALTORS® Make 2023 Boston Agent Magazine Who’s Who

Lamacchia Realty

Nineteen REALTORS ® from Lamacchia Realty have been included in Boston Agent Magazine’s Who’s Who for 2023! Boston Agent Magazine states its annual list “highlights those agents, brokers, and affiliates who provide that higher level of service and offer a depth of knowledge and solutions to provide a stress-free transaction.” True to its mission statement, Lamacchia Realty prides itself on its REALTORS ®, who go above and beyond to guide their clients to their success.

article thumbnail

Refining an iconic legacy brand: a Q&A with Katelyn Castellano

Inman

As iconic brokerage Engel & Völkers embarks on an identity refresh, this marketing leader shares her insights on the process, and what others can learn.

Brokerage 167
article thumbnail

Building Materials Prices Climb as Concrete, Transformer Shortages Persist

Eyes on Housing

According to the latest Producer Price Index report, the prices of inputs to residential construction less energy (i.e., building materials) climbed 0.3% in March 2023 (not seasonally adjusted). Since declining the last four months of 2022, the index has increased three consecutive months by a total of 1.6% but has been relatively stable over the past year.

article thumbnail

Jeffrey Fontana Park in San Jose’s Almaden Valley

San Jose Real Estate

Jeffrey Fontana Park is an Almaden gem, set into a residential area but also adjacent to loads of other parkland. In the not too far distance is a view of the coastal hills with Mount Umunhum on top.

71
article thumbnail

Rookie Reply: Should I Switch Markets? (Why You’re NOT Finding Deals)

BiggerPockets

How important is the real estate market you’re investing in? You could be searching for deals for months, not finding anything worth buying, and may want to call it quits.

article thumbnail

Housing Market Tracker: Spring inventory grows

Housing Wire

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The fear of not having an increase in inventory this spring should be put to rest. The other focus should be where mortgage rates go; only a little happened last week. Here’s a quick rundown of the last week: Active listing rose 8,260 week to week, down a bit from last week’s gain, but I’m not complaining — anything on the plus side is positive.

Inventory 516
article thumbnail

Victoria Centeno Named Lamacchia Realty’s Employee of the Month – March 2023

Lamacchia Realty

Behind the incredible REALTORS® of Lamacchia Realty is a team of over 75 staff members that work tirelessly to support, propel, and operate the independently owned brokerage. Each and every staff member plays an integral role in the continued success of the quickly growing company. Lamacchia Realty views its staff members in the highest regard, fostering the values the full service, value-based brokerage prides itself on.

Realty 74
article thumbnail

5 make-or-break factors consumers consider when choosing a real estate agent

Inman

A new report by RE/MAX explores what's most important to today’s homebuyers and sellers, from their criteria for choosing a real estate agent to their adaptability for the future. The findings are valuable intelligence for agents and brokers alike.

article thumbnail

Lower Rates Spark Housing Demand

Eyes on Housing

The retreat in mortgage interest rates during the first quarter of 2023 (from the 20-year peak reached in the fall of 2022) led a record share of adults in the US – 18 percent – to declare having plans to buy a home within a year – the largest share since the inception of this series in 2018. The finding.

Mortgage 180
article thumbnail

Clear Capital Expands Relationship with CoreLogic in Support of Modern Appraisal Readiness

Clear Capital

Clear Capital Expands Relationship with CoreLogic in Support of Modern Appraisal Readiness Clear Capital’s Universal Data Collection product available to be ordered, fulfilled through CoreLogic Valuation Workflow Solutions Reno, Nev. – April 20, 2023 – Clear Capital , a national real estate valuation technology company, today announced an expanded relationship with CoreLogic , a leading global property information, analytics and data-enabled solutions provider, to assist lenders in modern

article thumbnail

Do Solar Panels Increase Home Values?

Eppraisal

More and more homeowners are installing solar panels on their homes. In fact, according to The United States Department of Energy, "Since 2008, hundreds of thousands of solar panels have popped up across the country as an increasing number of Americans choose to power their daily lives with the sun's energy." Solar energy systems save money on electric bills and improve home values.

article thumbnail

Housing Market Tracker: Still no spring inventory lift

Housing Wire

Last week was relatively calm for the housing market after the fiasco of the banking crisis. Housing demand grew and inventory levels fell again while mortgage rates rose. Here’s a quick rundown of the last week: The 10-year yield battle continues as bond yields rose early in the week only to close below 3.50% on Friday. Mortgage rates rose to 6.57%.

Inventory 483
article thumbnail

Lamacchia Realty Announces Top Producing REALTORS® for March 2023

Lamacchia Realty

Lamacchia Realty, Inc. has released its “Top Producing REALTORS®,” for March 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! March 2023 Winners of the Top 10 for the Company are: Laurie Howe Bourgeois has been a licensed REALTOR® since 2000 and in the customer service industry for 34 years.

article thumbnail

5 power practices every successful real estate entrepreneur needs to know

Inman

Utilizing power practices and tools derived from the realms of positive psychology, neuroscience, and holistic wellness, you can lay the foundation for a successful career as well as a joyful and meaningful life.

article thumbnail

Housing Affordability Expectations Improve

Eyes on Housing

Relatively lower interest rates (compared to fall 2022), slowing growth in home prices, and builder incentives are making an impact on buyers’ affordability expectations. In the first quarter of 2023, 73% of buyers reported being able to afford less than half the homes for-sale in their markets, down from a record high of 87% in the final quarter of 2022. .

Buyers 177
article thumbnail

$0 Down Deals, 3% Interest Rates, and Insane Property Purchases

BiggerPockets

When you think of creative finance, you think of Pace Morby. He didn’t invent creative finance, seller financing, or subject to investing.

Finance 78
article thumbnail

Find High-Income Properties in the Best Investment Locations

Mashvisor

Finding property investments high income locations is much more straightforward when you can access accurate data and investment tools. To invest—or not to invest? That is the question.

article thumbnail

Wage growth downtrend kills 1970s inflation fear

Housing Wire

Given Friday’s job report , those who have been concerned with entrenched 1970s inflation — which would lead to double-digit mortgage rates — can put their disco shoes back in the closet. I have tried to explain that the 1970s inflation isn’t a reality , and Friday’s report should ease the fear that wage growth is spiraling out of control.

article thumbnail

1st Quarter of 2023: Lowest Number of Homes Listed in Recorded History

Lamacchia Realty

Those following the real estate market have been witnessing historic behavior in real-time since the onset of the Pandemic in March 2020. The first quarter of 2023 was no exception. This week we ran a “Homes Listed” Report in MLSPIN which is the Multiple Listing Service in Massachusetts and what we suspected was true. There has never been a first quarter of the year (January, February, March) since at least 1995 that fewer homes have been listed for sale than this year.

Sellers 73
article thumbnail

The call of the wild: Why agents are thriving in remote markets

Inman

When talking about luxury vacation homes, locations such as Wyoming's Teton County and Montana’s Bitterroot Valley may not be the first markets that come to mind, but there’s great value in hidden gems.

Agents 156
article thumbnail

Market in Focus: Florida Has Highest Population Growth Rate In U.S.

Eyes on Housing

In 2022, Florida had the highest population growth rate of any state at 1.9% and the second largest nominal growth in population at 416,754. Florida’s population was at 22,244,823 as of July 1st, 2022, the third largest state population in the U.S. The population of Florida has not experienced a decline since 1946. Because of continual high population growth, the.

Marketing 174