February, 2023

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Housing Affordability Hits Record Low but Turning Point Lies Ahead

Eyes on Housing

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Ban Multiple Regression?

George Dell

Multiple regression works very well under some conditions. We ask: Are these conditions true in most real property valuations? This is actually a vast topic, so we can only reflect on some of the conditions or assumptions which are required for a multiple regression to be valid.

Valuation 370
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FHA makes 30 bps MIP cut, mortgage industry cheers

Housing Wire

The Federal Housing Administration (FHA) on Wednesday morning announced a 30 basis point reduction in the annual premium charged to mortgage borrowers. The cut, widely anticipated by the industry, will result in mortgage insurance premiums (MIP) of 55 bps for most borrowers, down from 85.

Mortgage 482
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Sellers have been sitting out of the housing market too

Sacramento Appraisal Blog

There is so much talk about buyers sitting on the sidelines right now, but let’s talk about sellers who are also sitting. This is a local trend, but it’s something showing up in many markets across the country also.

Sellers 339
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Why You Should Hire Professionals to Measure Your Home

Cleveland Appraisal Blog

As a Home Measurement Specialist, this article is close to my heart! This week my regular guest blogger, Betty White from Moving Offices San Diego , offers some reasons why you should hire a professional to measure your home as well as to remodel it.

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The Beginning of a New Life

The Appraiser Coach

Principles are tremendously important tools we can use in our lives to affect change. A principle is an eternal truth. It can be applied across all circumstances, all times, all.

Appraisal 195

More Trending

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Measure the Neighborhood?

George Dell

Editor’s Note: This is Part 6 of the series on Neighborhood. We’re told we should analyze a neighborhood. This is mostly a residential concept. For non-residential appraisal the focus is often a “district” – a group of similar property uses. Rather than a group of complementary uses.)

Appraisal 195
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Opinion: How the title industry protects homeowners

Housing Wire

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders.

Insurance 473
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Prices went up & worst volume ever

Sacramento Appraisal Blog

Did prices really go up in February? What’s happening in this market? Today I have a few things on my mind. Scroll by topic or digest slowly. I hope this helps – whether you’re local or not. UPCOMING (PUBLIC) SPEAKING GIGS: 3/06/23 Matt the Mortgage Guy YouTube Live 3pm PST 3/09/23 Matt Gouge Event (sign up here) […] The post Prices went up & worst volume ever first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Reasons To Get An Appraisal

Padove Appraisal Service

There are several reasons why someone may want to get a real estate appraisal: Buying or selling a property: If you are buying or selling a property, an appraisal can help determine its fair market value, which can be useful in negotiations and setting a listing price.

Appraisal 148
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The Hard to Find (Important) Details

The Appraiser Coach

I’ve recently been looking into real estate as an investor, and I found a rental property relatively close to my home that looked pretty promising. It was advertised as a.

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A New Year Starts with Strong Gains

Eyes on Housing

Job growth rebounded in January. After declines for five consecutive months, total nonfarm payroll employment increased by 517,000 in the first month of 2023 and the unemployment rate hit a 53-year low at 3.4% as more people entered the labor market.

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Market Target?

George Dell

Market, the word, is used over 2500 times in The Appraisal of Real Estate. And over 650 times in the current (2021-2024) version of USPAP. Market” must matter! But what is it? Market” has two main meanings which correspond to the definitions in The Dictionary of Real Estate Appraisal.

Marketing 195
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Wells Fargo conducts another round of layoffs in home lending business

Housing Wire

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I

Lending 469
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Looking out for two housing market bottoms

Sacramento Appraisal Blog

There is so much talk about the housing market bottoming out, and I want to give some perspective on what to watch for. I hope this helps.

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How To Find An Appraiser

Padove Appraisal Service

Many people’s experiences with real estate appraisals are limited to mortgage applications. The appraiser is usually selected, and the report ordered through the lender. The task of selecting an appraiser for purposes such as estate planning and settlement, divorce, tax appeal, etc.,

Appraisal 145
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Going All-in

The Appraiser Coach

I recently celebrated an exciting milestone. I have officially gone one full year without eating sugar! Now that’s not 100% – everything has sugar in it these days. But I.

Appraisal 195
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Market Share of All-Cash New Home Sales Hits 32-Year High

Eyes on Housing

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that cash purchases made 11.2% of new home sales in the fourth quarter of 2022—the largest share since 1990.

Finance 177
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CEO discusses ‘slowdown’ in commercial real estate appraising

Valuation Review

The status of commercial real estate appraising is examined. Valcre #commercialspacein2023 #appraisers

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Housing Market Tracker: Inventory drops as mortgage rates move higher

Housing Wire

The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. Here is a quick rundown from last week : Purchase application data had a 3% week-to-week increase.

Inventory 464
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The housing market is heating up & still frozen

Sacramento Appraisal Blog

The housing market is definitely heating up for the spring, but it still feels frozen with so many buyers and sellers sitting right now. I recently talked about sellers sitting out of the market, but today let’s look at buyers. UPCOMING (PUBLIC) SPEAKING GIGS: 3/06/23 Matt the Mortgage Guy YouTube Live 3pm PST 3/09/23 Matt Gouge Event […] The post The housing market is heating up & still frozen first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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The Real Cause of the Home Value Gap Is the Income Gap

Appraiserblogs

Blaming appraisers for the income gap will never solve the real underlying problem… Blaming appraisers for the income gap is as ridiculous as blaming appraisers for gun violence and gas prices. I watched the January 24, 2023 ASC Appraisal Bias hearing. Comments were requested after the hearing.

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When You’re Up A Creek, Cross It

The Appraiser Coach

We often have experiences that teach us principles of life or business—or in this case, both. And the power of an analogy is such that it can apply to a.

Appraisal 150
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Cautious Optimism for Builders in February

Eyes on Housing

Two consecutive solid monthly gains for builder confidence, spurred in part by easing mortgage rates, signal that the housing market may be turning a corner even as builders continue to contend with high construction costs and building material supply chain logjams.

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Assistance options expanding for mortgage payments

Valuation Review

Loss mitigation options for borrowers struggling to pay their Federal Housing Administration-insured mortgages #FederalHousingAdministrationinsuredmortgages

Insurance 145
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New home sales continue to climb in 2023

Housing Wire

New home sales started off 2023 on a positive note, rising 7.2% from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday.

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More homebuyers are blaming their agents — and hauling them to court

Inman

Even though the extreme seller's market is in the rearview mirror, disgruntled clients have been filing more lawsuits against their agents, according to an analysis by Victor Insurance Managers.

Agents 202
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Fastapp AMC Alleged Violations of AIR

Appraiserblogs

The following court documents in the case Naftali Horowitz v. Nicole Andrews, Fastapp AMC founder v.

Appraisal 145
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FAQ #5: What is an Appraisal Waiver?

Riverfront Appraisals

Appraisal waivers have been around for quite some time now, but have really gained serious traction just in the past few years. I realize that some may not be familiar with the term, or its dangers, so in this short post, I’ll cover both.

Appraisal 139
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Age of Housing Stock by State

Eyes on Housing

According to the latest data from the 2021 American Community Survey (ACS), the median age of owner-occupied homes was 40 years. The age of the housing stock is an important remodeling market indicator.

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Market Still Strong as Low Inventory Persists- February Newsletter

DW Slater Company

It’s hard to believe that it has been 2 years since we experienced the great Texas Winter Storm when the Texas power grid failed and we went several days without power in our Texas homes that are not built to keep heat.

Inventory 132
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The homebuilders got lucky this time

Housing Wire

Looking at the latest NAHB/Wells Fargo homebuilder confidence data and builder stock prices, I can say the homebuilders got very lucky this time around in the middle of a housing recession. There is one simple reason for this: it’s not 2008.

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Investor activity slows, still makes up 1 in 4 homes sold in US

Inman

New data from John Burns and Redfin shows that investor activity slowed toward the end of 2022 but still accounted for about a quarter of home sales. That's up from about 11 percent in 2001.

Investors 193
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Under-Valuations Unrelated to Racial Bias

Appraiserblogs

Valuation 137