September, 2022

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The risk of zero-down loans while the Fed talks recession

Housing Wire

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

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Chasing the ball down the road in real estate

Sacramento Appraisal Blog

Sellers have been chasing the ball down the road. What I mean is prices have been going down lately, and sellers are trying to find the market through price reductions. I can’t speak for the entire country, but I’d like to talk about what’s happening locally. I’m not writing as a housing bull or bear […].

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Can You Photograph A Smell?

The Appraiser Coach

You may have heard that you can’t have opinions about the color of a room or shaggy carpet as you’re doing your job and walking through homes… that’s dead wrong. Read More.

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More Women Working in Construction in 2021

Eyes on Housing

The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering jobs lost earlier during the pandemic induced recession. Currently, women make up 11% of the construction workforce, up from 9.3% in 2002. As the construction skilled labor shortage remains a key challenge for housing, adding new workers.

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Users Love Us – Read What Our Customers Have To Say

GoForrmz

GoFormz customers share their insights and success stories Teams across the globe and every industry rely on GoFormz. From small flower shops to massive construction firms, our platform is known for its intuitive interface, powerful capabilities, and incredible customer support – allowing businesses of any size and sector to digitize and optimize the way they work.

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Conservation Easements Pros and Cons: Keep Ohio Cool and Green

The Robert Weiler Company

Summer in the Buckeye State can be a sultry affair. And, surprisingly, one way to beat the heat may involve a unique land protection vehicle known as a conservation easement. From a climate perspective, a green oasis can help cities lessen their urban heat island effect. Let us make the case if the above statement doesn’t make much sense. In cities such as Columbus, Ohio, the heat is often exacerbated by what’s known as the urban heat island effect.

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Buyers & sellers feeling stuck in the housing market

Sacramento Appraisal Blog

I love the original Back to the Future movie. Do you too? Well, I can’t help but think of today’s housing market compared to the film. Sellers have tended to be stuck in the past expecting the market to be hotter than it actually is right now. And some buyers are stuck in the future, […].

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Provide Rental Comp Data to Appraisers (More Important Than You Realize)

JMV Lending

We have had numerous deals almost die or come close to dying over the years – solely because our appraisers could not find adequate rental comp data. There are several reasons why we often need to support the full market rent in an appraisal, including: The borrowers often need every penny of the rent to […]. The post Provide Rental Comp Data to Appraisers (More Important Than You Realize) appeared first on JVM Lending.

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Gypsum Products, Transformers, and Concrete Prices Post Historic 12-Month Increases

Eyes on Housing

The prices of building materials rose 0.5% in August (not seasonally adjusted) even as softwood lumber prices decreased 5.2%, according to the latest Producer Price Index (PPI) report. Building materials prices have climbed 4.9% through the first eight months of 2022 and 14.3% over the past year. The PPI for goods inputs to residential construction, including energy, decreased 0.9% in.

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[Video] Key Takeaways for Improving Job Site Safety Management

GoForrmz

Catch the replay of the GoFormz & Procore webinar: Improving Job Site Safety Management Safety touches every aspect of the construction industry. Regardless of an operation’s size, expertise, location, or budget, safety must remain every team's top priority, from the job site to the back office. Traditional documentation and reporting efforts can slow response times and hamper preventative measures, putting your team behind the curve in construction safety.

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Why Hire an Eminent Domain Attorney?

Appraiserblogs

Taking private property for public use is one of the most powerful government actions under the constitution. The exercise of this power is commonly known as condemnation. The power itself is referred to as the eminent domain power. Eminent domain can occur at the federal, state, and local levels of government. If you are notified that your home, land, or property will be condemned for a public use, you will likely have many questions that need answers.

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Freedom Mortgage conducts layoffs, sends jobs overseas: sources

Housing Wire

Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. In response to falling origination volume, the New Jersey-based mortgage company has conducted at least four rounds of layoffs this year – in March, May and August, multiple sources told HousingWire.

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Choosing comps in a changing market

Sacramento Appraisal Blog

I’ve been getting asked lots of questions lately about choosing comps since the market shifted. Here are some things people have been asking me. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (Sign up here – On Zoom) 10/13/22 Market update in Midtown (details TBD) 10/20/22 How to Think Like an Appraiser (9am-12pm) (Sign up […].

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New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

What New Homebuyers Need To Know About Appraisals. If you are a new homebuyer, welcome! Buying a home can be a confusing process, however, I hope that you have been able to surround yourself with knowledgable professionals who can help you navigate your first home purchase and make it an enjoyable experience. In this new homebuyer’s guide to appraisals, I’ll help you understand the process during your first home purchase.

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Growth of Household Real Estate Market Value Slows in Q2

Eyes on Housing

The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in the second quarter of 2022, growth of the market value of all owner-occupied real estate in the United States slowed after showed the largest year-over-year percentage gain since 2001 the prior quarter. The market value of owner-occupied real.

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Join Us at IMTS 2022

GoForrmz

The GoFormz team will be exhibiting at the International Manufacturing Technology Show in Chicago! We are thrilled to be attending the International Manufacturing Technology Show in Chicago , September 12-17, 2022. Will we see you there? IMTS 2022 The International Manufacturing Technology Show showcases the creators, builders, sellers, and drivers of manufacturing technology.

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What Is Real Estate Investing and How Does It Work?

Mashvisor

To understand why many people get into real estate investing, you must first answer, “what is real estate investing, and how does it work?

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House passes bill to modernize VA appraisals

Housing Wire

The U.S. House of Representatives this week passed a bill that streamlines the appraisal process for U.S. Department of Veterans Affairs mortgage loans. With the passage of HR 7735, known as the “Improving access to the VA home loan benefit Act of 2022,” the VA is now permitting desktop appraisals and in some circumstances, waiving appraisals altogether.

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Chuck Norris eats 7% mortgage rates for breakfast

Sacramento Appraisal Blog

Housing trends are changing by the week, and it’s time to start believing the Fed when they talk about resetting the housing market. Let’s chat about this today, and I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (9am-10:15am Sign up here) 10/13/22 Market update in Midtown […].

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Recapping Blueprint 2022: photos, sessions, podcasts

Clear Capital

Session recaps & photos. Day One General Session Recap. Blueprint 2022 kicked off with a morning session that covered how new tech can impact companies. It featured panelists in the multifamily space, government contractors, tech startups, venture capitalists and more. . Read now and see photos ?. Day Two General Session Recap. Blueprint’s second general session focused on the current and future state of the market and how companies can take advantage of the challenges presented by ec

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Decline in Single-Family Permits in July 2022

Eyes on Housing

Over the first seven months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 645,877. On a year-over-year (YoY) basis, this is a 5.3% decline over the July 2021 level of 681,949. Year-to-date ending in July, single-family permits declined in all four regions. The South posted a slight decline 3.0% while the Midwest region reported the.

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Lauren DiStefano Promoted to Director of The Office of The CEO and COO

Lamacchia Realty

It was announced on Wednesday at monthly company updates by Anthony Lamacchia that Lauren DiStefano has been promoted to Director of the Office of the CEO and COO. Lauren has been with the Lamacchia Companies for 10 years, working her way up from an administrative assistant to Executive Assistant and business manager and now into this larger more formal roll.

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Tropical Depression Imelda's Impact On Houston Real Estate Market

Houston Properties

Here's a look at Houston neighborhoods that flood and did NOT flood during Imelda. Also, here’s a list of things to do to address minor to major property damages due to flooding.

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Federal judge rules in favor of FHFA on net worth sweeps

Housing Wire

The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac , has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps. The plaintiffs, Fairholme Funds Inc., et al., are private-sector investors in Fannie Mae and Freddie Mac, which have been in conservatorship under FHFA oversight since the 2008 fin

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8 Things to Avoid After Applying for a Mortgage

Assurance Financial

After months of searching, you’ve finally found the perfect house. Congratulations on your exciting milestone! While you’re undoubtedly excited about this opportunity, it’s a good idea to be careful during this time to avoid jeopardizing your application approval. Some of the top things to avoid after applying for a mortgage include: 1.

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The Real Estate Market is Changing: Is Your Listing Agent Providing Top-Notch Services?

Eppraisal

For the past couple years, homes have been selling fast and home values have been increasing at record-breaking rates. The inventory of listed homes on the market has been historically low. This is starting to change, however and the market is starting to balance out. In many markets home sellers no longer have the leverage they did a few months ago.

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Fed Raises by 75 Basis Points, Again

Eyes on Housing

Continuing its tightening of financial conditions to bring the rate of inflation lower, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 75 basis points, increasing that target to an upper bound of 3.25%. This marks the third consecutive meeting with an increase of 75 basis points. These supersized hikes are intended to move monetary policy.

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Kim Beaulieu Promoted to Director of Human Resources

Lamacchia Realty

Lamacchia Realty announced at its monthly company updates on Wednesday that Kim Beaulieu has been promoted to Director of Human Resources! This promotion comes roughly a year after Kim transitioned to the role of Human Resources Manager. Kim has singlehandedly developed and overseen the Human Resources department at Lamacchia Realty since its inception.

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Hurricane Harvey's Impact On Houston Real Estate

Houston Properties

Hurricane Harvey is projected to cost Texas billions of dollars in damages. Here’s a list of things to do address minor to major property damages, as well as homes affected by flooding.

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Why the Fed’s housing reset risks a global recession

Housing Wire

When Federal Reserve Chairman Jerome Powell talked about a housing reset in June , it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting , held last week, Powell finally clarified what he meant by that term and what a housing reset means to the Fed. However, a housing reset isn’t the only pressing issue — we now also have to think about a worldwide global recession.

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Nine Expensive Mistakes You Don’t Want to Make This Fall

PennyMac

Autumn is a good time (and potentially your last chance) to review, repair and remediate any home issues that could end up breaking the bank account once winter arrives. Below we’ve listed some expensive mistakes homeowners will want to avoid making every fall. Set yourself up for success by putting some time (and a little cash) aside to clean up your household act before the harsh weather sets in.

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ClearCast Podcast E30 — EasyKnock Vice President of Partnerships, Brock Cassidy

Clear Capital

Follow ClearCast on LinkedIn , Twitter , Facebook , and Instagram. EPISODE SUMMARY. Kenon and Jeff discuss the record-high number of unsold homes under construction, and increasing numbers of homes on the market for longer than 30 days. Then, they sit down with Brock Cassidy , Vice President of Partnerships at EasyKnock , to discover how EasyKnock is helping homeowners consolidate their debt, achieve their financial goals, and stay in their homes.

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Mortgage Activity Falls as Rates Top 6%

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 9th, total mortgage activity declined 1.2% and the average 30-year fixed-rate mortgage (FRM) rate rose seven basis points to 6.01%. The FRM rate has increased 56 bps over the past month reaching a 14-year high. The Market Composite Index, a measure of mortgage loan application volume, decreased by.

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Florida Disaster Relief

Lamacchia Realty

Please consider donating directly to the American Red Cross Florida Disaster Relief to help those impacted by the severe damage inflicted by Hurricane Ian. Click here to Donate Now. The post Florida Disaster Relief appeared first on Lamacchia Realty.

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