January, 2022

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Mortgage delinquency rate reaches prepandemic levels

Housing Wire

Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, according to the most recent CoreLogic Loan Performance Report. The expectation is that rates will continue to decline during 2022. In October, 3.8% of mortgages were delinquent by at least 30 days, including foreclosure, close to the 3.7% rate registered in the same period of 2019.

Mortgage 530
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New Home Construction Expectations for 2022

Appraisal Buzz

The housing market boomed in 2021 like few could have expected. What is on the horizon in 2022? Home prices are rising to record highs , and many policymakers and industry professionals have begun turning to building to ease shortages. Of course, the construction industry has been facing some pressing challenges, including hitches in global and national supply chains.

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Real estate trends to watch in 2022

Sacramento Appraisal Blog

What’s the real estate market going to do in 2022? Let’s talk about some of the emerging trends. Scroll quickly or digest slowly. Anything to add? January public speaking gigs: January 12: Top Producer Panel in Granite Bay (sold out) January 18: SAR Big Market Update (sign up here) January 19: PCAR WCR Big Market […].

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Building Materials Prices Increase 1.5% in December, Lumber Volatility at 75-Year High

Eyes on Housing

The prices of goods used in residential construction ex-energy climbed 1.5% in December (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The index was driven higher by large price increases for wood products. Building materials prices increased 15.9% in 2021 and have risen 18.6% since December 2020.

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Appraising in 2022! What Will It Be For You?

DW Slater Company

Happy New Year! As we begin a new year, I wanted to take a moment to discuss what that may mean. It seems that we don’t really hear much about “New Year’s Resolutions” anymore. Perhaps, it’s because they seem to be impossible. I “resolve” to do this or not do that and of course, that resolve can only go so far and we just feel like we failed. If I don’t make any resolutions, then I won’t fail, right?

Appraisal 159
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The Housing Market Needs More Condos. Why Are So Few Being Built?

Urban

Condos can present a key path to homeownership, but federal financing issues and local defect laws have contributed to a lack of multifamily units for sale.

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These Are The Best Cities for Real Estate Investment

Appraisal Buzz

Due to the explosion of real estate prices over the past few years, more are looking to diversify their investments by expanding into real estate. But not all real estate properties are a sound investment; those looking for the best “bang for their buck” must balance real estate prices with taxes, vacancy rates, insurance, and the list goes on. As … The post These Are The Best Cities for Real Estate Investment appeared first on DSNews.

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The most aggressive housing market ever?

Sacramento Appraisal Blog

Was last year the most aggressive housing market we’ve ever had? I’m going to go out on a limb and say HECK YES based on the stats. But what do you think, whether you’re local or in a different market? January public speaking gigs: January 12: Top Producer Panel in Granite Bay (sold out) January […].

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Impacts of Rising New Home Costs

Eyes on Housing

Only 15% of buyers were looking for a newly-built home at the start of 2018, but that share shot up to 42% by the final quarter of 2020 (after the start of the pandemic). Since then, however, interest for new construction has fallen steadily, as costs for building materials – especially lumber – have experienced double-digit growth. By the final.

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12 Things to Know BEFORE Moving to Durham, NC

Raleigh Realty

Living in Durham, NC Find out why 70+ people are Moving to the Durham area Daily in 2022 For anyone moving to Durham, NC, or considering the move, you'll want to be sure to read this article first or contact us directly 12 Things to Know Before Moving to Durham, NC There are so many things to do in Durham a lot of which you will find in this article.

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5 Digital Forms for Drywall and Insulation Contractors

GoForrmz

Level up your construction business operations with these five digital forms Are you a drywall and insulation contractor that is tired of searching for a solution to elevate and enhance your business operations? Well look no further – GoFormz is your one-stop-shop solution for digital data capture, mobile forms, workflows, and much more. With GoFormz, your digital forms can look exactly like your existing paper forms (or entirely new versions) and can be used to collect new data types like Image

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FHFA hikes fees for high-balance and second-home loans

Housing Wire

The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio. For second home loans, the upfront fees will increase between 1.125% and 3.875%, also tiered by loan-to-value ratio.

Finance 523
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HUD Names Four to Housing Counseling Federal Advisory Committee

Appraisal Buzz

Addition of four new appointments brings Committee membership to full 12 members authorized by statute. The post HUD Names Four to Housing Counseling Federal Advisory Committee appeared first on DSNews. The post HUD Names Four to Housing Counseling Federal Advisory Committee appeared first on Appraisal Buzz.

Appraisal 394
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Desktop Appraisals Coming Soon; Flips too

JMV Lending

“Flips” Still A Thing A “flip” is a home that has was recently purchased and then subsequently listed for sale – typically at a higher price point – within a specific time period (3 to 12 months, depending on investors or guidelines). With so many investors “flipping” homes, flips and flip issues are prevalent once […]. The post Desktop Appraisals Coming Soon; Flips too appeared first on JVM Lending.

Appraisal 148
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Existing Home Sales Strongest Since 2006 Despite Supply Limits

Eyes on Housing

Fueled by low mortgage interest rates and strong demand, annual existing home sales reached 15-year high in 2021, according to the National Association of Realtors (NAR). However, supply has continued to lag due to ongoing supply-chain disruptions and inventory fell to lowest level since January 1999, keeping home prices elevated and pricing out first-time and young buyers.

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3 Time Management Strategies Real Estate Pros Use to Get Ahead

McKissock

As part of our contributor series, John Walker talks about his best time management strategies for real estate agents and brokers. . Real estate is an industry that attracts a lot of entrepreneurs, self-starters, and big dreamers. Why? The short answer is the real estate industry offers virtually endless amounts of opportunity and in many cases, there are fewer roadblocks in order to get started than there are in other industries.

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Join us at the 2022 Acumatica Summit!

GoForrmz

GoFormz will be onsite as a Gold Sponsor at this year’s Acumatica Summit (January 23- 28, 2022) Next week, GoFormz will be sponsoring the Acumatica Summit in Las Vegas! Will we see you there? Check out more information below: About the event The Acumatica Summit is an annual event for Acumatica customers, partners, and industry leaders. With a variety of informative sessions, exhibitions, demos, and networking opportunities available, it’s truly an event you don’t want to miss.

Business 148
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FinLedger doubles down on proptech, partners with Tech Nest podcast

Housing Wire

Since its launch in August 2020, FinLedger has kept its pulse on the explosive and expansive sector of financial technology for thousands of readers. And now we’re ready for the next stage of FinLedger’s growth. As part of HW Media’s vision to cover All Things Housing, FinLedger will narrow its focus to proptech coverage, doubling down on a category of fintech that attracted $32 billion in investment in 2021 and yet is oft-overlooked by newsrooms.

Investing 518
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Protecting Condos as a Sustainable Housing Option

Appraisal Buzz

In the days following the tragic condo building collapse in Surfside, Florida, information emerged about known issues with that building. Several nearby condo buildings were evacuated because they too had significant deferred maintenance that led to potentially life-threatening structural deficiencies. The tragedy has focused attention on an emerging challenge: significant deferred maintenance of aging condo and co-op infrastructure.

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4th Qtr 2021 Housing Market Report for Atlanta

Hank Miller Team

The curtain fell on 2021 and the housing market report for greater Atlanta can be succinctly summed up; crazy. In addition the last quarter being traditionally slow, the big influences on the market were inflation levels unseen in 40 yrs, supply chain shortages, labor issues and of course the rise and run of the omicron covid variant. That is best described as an endemic; like the flu it's evident that the covid situation isn't going anywhere.

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Residential Building Worker Wages Grow Rapidly

Eyes on Housing

Average hourly earnings for residential building workers have been growing fast recently, driven by the tightening construction labor market. Last Friday, the Bureau of Labor Statistics (BLS) reported that the unemployment rate declined to 3.9% in December, the lowest rate since the pandemic. As the labor market remains tight, wages have increased rapidly, particularly in residential building sector.

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December 2021 REALTORS® Confidence Index Survey: Fewer Buyers Waiving Appraisal, Inspection Contract Contingencies

National Association of Realtors

The fraction of buyers who are waiving appraisal and inspection contract contingencies has been trending downwards in recent months, with REALTORS® saying that 19% of buyers waived the inspection contingency in December 2021, down from 27% in July, and 21% waived the appraisal contingency, down from 29% in June.

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Lamacchia Realty Continued its Explosive Growth in 2021 by 55%

Lamacchia Realty

In 2021, Lamacchia Realty continued its record growth across the company. The company went into the year with big goals despite the unprecedented low inventory and challenging market, particularly at the beginning of the year. By the end of 2021, the company proved it is capable of continuing its stampede to the top regardless of the market. Here are the final numbers of 2021: The company grew from $1,043,107,920 in sales volume in 2020 to $1,620,908,158 in 2021- a 55% increase!

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How to avoid home closing delays in 2022

Housing Wire

HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays. HousingWire: What are some unexpected things that can delay a home closing? Tom Kriby: Everyone knows home inspections and appraisals can hold up a closing, but insurance is another possible roadblock for an on-time closing.

Insurance 506
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Wait! There’s Risk in my Appraisal?

Appraisal Buzz

If you talk to a professional risk manager working in the home finance industry, they’ll tell you that risk is hiding everywhere. While they may be overstating it, they aren’t doing it by much. This is why federal regulators require banks to do such rigorous stress testing, proving that they can respond appropriately to any risk they may face. We saw a great deal of this in the years following the Great Recession, but over the last year or two we’ve heard much less about stress testing.

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What Is The Ideal Rate Of Return On A Rental Property?

Mashvisor

If you are someone looking to get into the real estate investing business or are currently an investor, rental properties in real estate investing can be one of the most…

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Inflation Hits 39-Year High

Eyes on Housing

Led by higher prices for shelter and used vehicles, consumer prices soared by 7.0% in December from a year ago. It was the largest year-over-year gain since June 1982. However, energy prices fell in December, ending a long series of increases. Supply-chain constraints and strong consumer demand related to the pandemic and the reopening of the economy have contributed to.

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Canada stress test should be lowered: brokerage president

Mortgagebroker News

The executive says the qualifying rate increase has been punitive to homebuyers and negatively affected the market

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Reminder About Snow Removal Laws

Lamacchia Realty

A REMINDER ABOUT SNOW REMOVAL LAWS. The snow has arrived! Here is a reminder if you’re a property owner in Massachusetts: by law, you must remove or treat snow and ice on walkways and plow parking lots. You can be held liable for injuries caused by snow and/or ice on your property. Some Massachusetts property owners are still unaware of this law that went into effect in July of 2010.

Law 74
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The big short in housing supply isn’t going away

Housing Wire

This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for next year, along with a roundtable discussion on how these insights apply to your business.

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Policy Changes May Help Alleviate Disparities in Renting

Appraisal Buzz

The lull in the rental market seen at the onset of the pandemic is all but a distant memory as rents have surged by double digits over the past few months indicating that the rebound, in part, is caused by the lack of inventory in the purchase market. According a new report titled “Americas Rental Housing … The post Policy Changes May Help Alleviate Disparities in Renting appeared first on theMReport.com.

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Airbnb Dunedin FL: Should You Invest in 2022?

Mashvisor

Whether you’re looking for a long-term rental investment or a short-term income property, Florida has a selection of great choices for investing in real estate; and today, we want to…

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2021 U.S. Population Growth Lowest on Record

Eyes on Housing

According to the U.S. Census Bureau, the of the United States increased by 393,000 to an estimated 332 million from the previous year. In 2021, the estimated population growth rate of 0.12 percent was the lowest since the Bureau began collecting this data beginning in 1900.

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How to get started in the mortgage industry during turbulent times

Mortgagebroker News

This mortgage professional stresses the value of having firm operational foundations, even from other industries