March, 2022

As the Pandemic Wanes, Remote Work Will Remain Popular

Appraisal Buzz

According to Arch Mortgage Insurance Company (Arch MI), a Greensboro, North Carolina based company offering risk management and financial institutions to mortgage lenders, 2022 was nothing short of an amazing year for the housing market.

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Square footage, recessions, and gas prices

Sacramento Appraisal Blog

I have a few things on my mind today. Let’s talk about square footage rules changing, crazy gas prices, and recession buzz. 1) NEW SQUARE FOOTAGE STANDARDS FOR APPRAISERS: If you didn’t know, Fannie Mae is adopting some changes with the way appraisers measure square footage (pdf).

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The housing market is now savagely unhealthy

Housing Wire

The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 million. This level is still within my 2022 forecast sales range between 5.74 million and 6.16 million. Last year I discussed sales levels coming back down to 5.84

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Procedure Manuals: Tips For Success

The Appraiser Coach

Let’s talk about your procedure manual. What procedure manual, you ask? Well, the one you should have (if you don’t). Even if you’re the only person working in your office, Read More.

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Planning an Open House? Don’t Forget These Key Preparations

Cleveland Appraisal Blog

Greetings! The spring selling season is upon us. If you’re planning on selling your home, you’re probably going to have open houses so that you can let buyers see for themselves the wonderful features of your home. How can you get the most impact from an open house?

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What is Market Conditions?

George Dell

The conditions of the market, in real estate, means the relationship between supply and demand. Supply and demand issues (at a point in time) are particularly important for new construction. In such cases, forecasting may also be important where build-out and rent-up times affect value.

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More Trending

Starbucks cups & price per sq ft in real estate

Sacramento Appraisal Blog

It’s easy to get into valuation trouble when we focus too much on price per sq ft. Seriously, this can be a massive problem leading to major heartache during escrows. Okay, that sounds so dramatic, but it’s important to know how to explain how price per sq ft works.

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Why owning a home is the best hedge against inflation

Housing Wire

On Thursday, the Bureau of Labor Statistics reported the same trend that all Americans have seen lately: the inflation rate of growth is rampant and doesn’t show any sign of easing up due to the Russian Invasion of Ukraine. The Consumer Price Index for all Urban Consumers “increased 0.8

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The “Why?” Behind What We Do

The Appraiser Coach

We are all creatures of habit. We tend to eat the same foods, take the same way to work, and tie our shoes the same way every time. Often, we. Read More.

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The Ups and Downs of Stairs

Cleveland Appraisal Blog

How many steps have you taken in your life? How many steps do most people take in a lifetime? I’m sure that there are many factors that impact this. According to some studies , the average person will take 70 million steps in their lifetime. How many of those steps are on stairs?

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Bias or Variance: Which is Better?

George Dell

Bias is a much used and misused word. Variance too has more than one meaning. Words rule. Words trigger our thoughts, our feelings, and our opinions. Bias itself can mean different things. It can mean different things to different people.

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Brian Miller: Shift to Remote Work Has ‘Tipped the Scales Toward Employees’

Appraisal Buzz

PERSON OF THE WEEK: The shift to a purchase market, lenders’ re-expansion into niche products such as non-QM, and the reality of remote work and its impact on retention are among the topics covered by Brian Miller, senior vice president, talent acquisition for Planet Home Lending , in a recent interview with MortgageOrb.

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Taxing flippers 25% in California??

Sacramento Appraisal Blog

There’s a new bill in California called AB 1771 that proposes a 25% tax on the profit of home flippers. This is worth talking about because laws can affect the housing market.

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Is the Dallas Fed right to label this a housing bubble?

Housing Wire

Are we headed to a housing bubble? The Dallas Fed on Thursday published an article titled: Real-Time Market Monitoring Finds Signs Of a Brewing U.S. Housing Bubble. The online reaction was immediate — housing must be about to crash. I disagree with this conclusion.

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The Case for Virtual Assistants

The Appraiser Coach

There are those who argue that hiring help from outside the U.S. is unamerican, as it takes jobs away from Americans on the home turf. And to a certain extent, Read More.

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What First-Time Home Buyers Really Want

Eyes on Housing

Among first-time home buyers, a laundry room ranked as the most popular of the more than 200 home and community features listed in the recent NAHB study, What Home Buyers Really Want, 2021 Edition.

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AVMs, Algorithms, and Models?

George Dell

AVMs (Automated Valuation Models) are often touted as something appraisers should understand and do more of. This is a problem of words. AVM” is not descriptive of a formula to calculate value. It is an industry.

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Five Common Issues Found in Appraisal Reports

Appraisal Buzz

Appraisals for mortgage finance transactions are subject to many levels of scrutiny and review. Post submission of an appraisal report ordered by an AMC for lending purposes, a quality control check of the report will be completed.

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Freakish home price growth so far in 2022

Sacramento Appraisal Blog

Freakish price growth? That’s exactly what we’ve been seeing. Here we are again with what feels like a carbon copy of last year, which was our most aggressive market ever. In short, 2022 is doing its best to crush 2021. Let’s talk stats and perspective.

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Mortgage rates reach highest level since 2018

Housing Wire

Mortgage rates keep climbing amid rising inflation , war in Ukraine, and disruptions to the supply chain, and there’s no sign that they’ll fall anytime soon.

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Your Virtual Assistant is a Person, Too!

The Appraiser Coach

People are people. Whether you’re from a small town in South Dakota, a big city in Europe, or living in a mud hut in Africa, we all have at least. Read More.

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In the Bath, First-Time Buyers Really Want Both a Shower & Tub

Eyes on Housing

Among first-time buyers, both a shower stall and tub in the primary bath ranked as the most popular of the 18 bathroom features listed in the NAHB study, What Home Buyers Really Want, 2021 Edition.

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Market Conditions Analysis: Should GSEs Require It?

George Dell

Per FreddieMac (Scott Reuter, Chief Appraiser)[1] recently stated: “Appraisers need to spend time on developing a market conditions analysis in the appraisal. It’s truly the backbone of the appraisal.”

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Mortgage Rates Return to Pre-Pandemic Levels

Appraisal Buzz

This month marks the two-year anniversary of the coronavirus pandemic, which the World Health Organization officially declared on March 11, 2020.

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Predicting housing price cycles isn’t so easy

Sacramento Appraisal Blog

Does the housing market really have price cycles? But these cycles aren’t always so rigid and perfectly predictable like so many people think they are. Let’s talk about this today. I’d love to hear your take also.

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Homebuyers are really beginning to feel the squeeze

Housing Wire

The one-two punch of higher mortgage rates and escalating home prices reduced homebuyers ’ ability to buy homes in February. The trend is also likely to worsen in the coming months.

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Be Seen, Build Trust, Get Hired

The Appraiser Coach

You have been a real estate appraiser for years. Or maybe you’ve just got six months under your belt. Either way, each of us needs to determine how we will. Read More.

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Increasing Open Jobs in Construction

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 increased for the month to 380,000 unfilled positions in January.

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Hocus Pocus Magic Focus?

George Dell

Appraisers historically have been sold bogus franchises, software, and other magic solutions. Only $199.95 — Push the enchanted ‘calculate’ button and get ‘correct’ adjustments. Sounds good.

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U.S. Home Prices Were Up Nearly 20 Percent Year-Over-Year in January 

Appraisal Buzz

Driven by strong demand and limited inventory, U.S. home prices increased 1.6% on an adjusted basis in January and were up 19.2% compared with January 2021, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

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Appraisal Blog The Realtor’s Guide to Appraisals, Part 3 How Appraisers Choose Comps

Riverfront Appraisals

Welcome to your crash course in choosing comps. In this blog post, we’ll discuss the various methods for choosing comparable sales, just the way an appraiser does. When pricing a new listing, you’ll first gather all the information about the home and neighborhood.

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Senators grill HUD official over absent GSE appraisal data

Housing Wire

The U.S. Capitol building in Washington, D.C. The lack of appraisal data from the government sponsored enterprises took center stage at a Senate Banking Committee hearing Thursday on appraisal bias. Pennsylvania Sen.

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New Desktop Appraisal Policy with Freddie Mac

Appraisal Buzz

Today’s Buzzcast interview is with Scott Reuter, Chief Appraiser of Freddie Mac. We sat down with Scott and Joan Trice, Founder of Allterra Group, LLC to discuss the new Desktop appraisal policies and what that means for the industry. What is new in policy when it comes to desktop appraisals?

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Building Materials Prices Increase Slightly, Held in Check by Metal, Gypsum, and Concrete Products

Eyes on Housing

The prices of goods used in residential construction ex-energy climbed 1.6% in February (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials prices increased 20.4%, year-over-year, and have risen 31.3%

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