November, 2022

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Attracting More Appraisal Business

Cleveland Appraisal Blog

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. I have seen a slowdown in my lending work also. So what can we do? Half my work is non-lending work, and that’s been a blessing. Mortgage lending work is only one type of business where appraisals are needed.

Business 393
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Saying goodbye to pandemic home price gains

Sacramento Appraisal Blog

Sellers have been saying goodbye to some of the equity they gained during the past couple of years. In Sacramento, we’ve actually lost 40% of the pandemic gains since May. Today I want to talk about price trends, and I hope this is helpful – whether you’re local or not. Skim quickly or digest slowly. […]. The post Saying goodbye to pandemic home price gains first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Can we still avoid a recession?

Housing Wire

Economic reports over the Thanksgiving holiday paint a complicated picture of what’s happening, and where we are on recession watch. The big economic surprise was the strength of Black Friday sales, where consumers spent a record $9.12 billion online. Another surprise was the Atlanta Fed’s forecast of 4.3% GDP growth in the fourth quarter, since the Atlanta Fed data was used by many to say that the U.S. went into a recession earlier in the year.

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The Language Barrier

The Appraiser Coach

Language is important. We often get so caught up in the moment, so laser-focused on how we feel about something, that we become casual in the verbiage that we use. Read More.

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Building Materials Prices Decline for Second Consecutive Month

Eyes on Housing

The prices of building materials decreased 0.2% in October (not seasonally adjusted) following a 0.5% decline in September according to the latest Producer Price Index (PPI) report. The index has decreased four of five months for the first time since 2015. The PPI for goods inputs to residential construction, including energy, was led 0.2% higher by prices of diesel fuel (+9.5%).

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GoFormz Joins the Construction Executive Top Tech Firms List

GoForrmz

GoFormz was selected as a Top Tech Firm in the construction industry. Now in its 20th year of publication, Construction Executive is the leading trade magazine about the business of construction. In its most recent issue, CE published a comprehensive list of The Top Construction Technology Firms ™ – and GoFormz made the list! How Construction Executive’s Top Tech Firm List was Formed CE developed The Top Construction Technology Firms™ list by asking hundreds of firms that provide technology and

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The Risks and Rewards of ACE+ PDRs

Kairos Appraisal Services

The ACE+ Property Data Report is a new component that could allow borrowers on Freddie Mac–eligible loans to avoid a full appraisal inspection on purchases or cash-out or rate-term refinances. Instead, property information is collected on-site by a real estate agent, inspector, or data collector using Freddie Mac’s proprietary PDR data sets. When the ACE+… The post The Risks and Rewards of ACE+ PDRs appeared first on Kairos.

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Mortgage rates collapse on softer inflation data

Housing Wire

Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the peak of inflation and close to the end of the Fed rate hike cycle? Let’s take a look at today’s data.

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Inflation Jumped 7.7% in October 2022—How Is It Affecting Real Estate?

Mashvisor

Inflation went up slightly month-over-month in October 2022. It means inflation may be slowing down, but how does it affect investors?

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More Prospective Buyers Are Actively Searching for a Home

Eyes on Housing

Higher interest rates are pricing out some (not all) buyers, but also transforming remaining prospects into active buyers. In the third quarter of 2022, 59% of prospective buyers had moved beyond the planning phase and become fully engaged in the buying process, up from 46% in the first quarter and 49% in the second quarter of the year. The share.

Buyers 196
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Join us at GroundBreak 2022

GoForrmz

How to find GoFormz at GroundBreak 2022 We are so excited to be attending Groundbreak in New Orleans, this November 7-9, 2022! Before you gear up for the event, we want to help you find GoFormz this year. With 120+ vendors and sessions, planning is a must for a successful Groundbreak experience. We’re dedicating our time at Groundbreak to share how our GoFormz-Procore integration can improve and automate your everyday tasks.

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Lisa Gray Qualifies for the 2022 Lamacchia Realty President’s Club

Lamacchia Realty

Lisa Gray has officially qualified for the 2022 Lamacchia Realty President’s Club by surpassing $16,000,000 in sales volume! This is Lisa’s first time achieving this accomplishment, and it is incredibly well deserved! Lisa is a hardworking REALTOR ® licensed in both MA and NH. Lisa’s passion is helping and giving back, and she loves building long-lasting relationships with her clients.

Realty 74
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30-Day Stay: A Medium-Term Strategy For Long-Term Financial Freedom

BiggerPockets

If you are looking for a tactical investing roadmap on what medium-term rentals are and how to get started right away, 30-Day Stay: The Real Estate Investor’s Guide to Mastering […].

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Home equity loan vs. HELOC – What’s the difference?

Housing Wire

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. According to Black Knight’s mortgage monitor report, the country’s housing equity position remains strong compared to its position at the beginning of the pandemic, with equity positions $5 trillion, or 46%, above pre-pandemic levels.

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Automated valuations evolve with the launch of Interactive ClearAVM

Clear Capital

Today, we’re thrilled to announce the launch of Interactive ClearAVM (automated valuation model). This enhanced version of ClearAVM is an optional add-on that will provide customized AVMs in real-time based on user-made adjustments to a property’s key characteristics and including condition. ClearAVM is an AI-based, investment-grade AVM that produces reliable, highly-accurate market value predictions and uses machine learning to deliver property valuations on more than 139 million addresse

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Gain for Custom Home Building

Eyes on Housing

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded during the third quarter of 2022 despite broader market weakness. There were 59,000 total custom building starts during the third quarter of the year. This marks a 5% increase compared to the third quarter of 2021 in terms of year-over-year change.

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Top Digital Forms for Human Resources Teams

GoForrmz

Focus on people, not paperwork, with these digital HR forms Human resource professionals are expert multitaskers. From hiring and onboarding to benefits management, conflict resolution, and beyond, HR teams are tasked with a vast array of functions critical to their business. These activities often require heavy documentation, which, although necessary, results in obstacles to productivity, frequent human error, and an onslaught of record-keeping demands.

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Cyndi Deshaies Qualifies for 2022 President’s Club ELITE

Lamacchia Realty

Cyndi Deshaies has officially qualified for the highly sought-after distinction of President’s Club ELITE! While Cyndi has qualified for the Lamacchia Realty President’s Club for 2 years in a row , this is her first year achieving the ELITE level by surpassing 50 transactions in 2022! After joining the company in 2018, she quickly grew her business no matter what obstacle life put in her path.

Realty 74
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How To Avoid Houston Homes With Flooding History

Houston Properties

Understand the Houston real estate market post Harvey and post Imelda, and compare Houston home prices after Harvey and Imelda for neighborhoods that flooded and did not flood.

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Don’t expect a drop in home prices in 2023, NAR economist says

Housing Wire

While elevated mortgage rates, sluggish home sales and high inflation have taken a significant toll on the housing industry, it’s unlikely that these issues will cause home prices to drop next year, at least according to National Association of Realtors (NAR) Chief Economist Lawrence Yun. In fact, we may see a further uptick in home prices in 2023, even if mortgage rates stay at or near 7%, Yun said.

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Down but not out: Creating positive impact in any market climate

Clear Capital

Written by Kenon Chen. No amount of video calls, social media posts or other two dimensional interaction can replace what it is like to be around housing finance people in person. If there was ever an industry that thrived on being “people people,” housing finance is it. This was going through my mind as I sat next to a founder of a large mortgage lender at an industry event in Washington, D.C. recently.

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Unsurprisingly, Housing Affordability Continues to Fall

Eyes on Housing

Rising mortgage rates, high inflation, ongoing building material supply chain disruptions, and elevated home prices contributed to housing affordability falling – yet again – to its lowest point since the Great Recession in the third quarter of 2022. According to the NAHB/Wells Fargo Housing Opportunity Index (HOI), just 42.2% of new and existing homes sold between the beginning of July.

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Investing in Affordable Housing - Part 2 - Accountability to Housing Authority

Eppraisal

In the previous installment, readers discovered that there are profits to be realized when investing in properties with affordable housing units. In addition, landlords who do so are providing a service to the community. So, owners accept lower rent payments from qualified tenants while receiving funding and/or tax benefits from the federal government.

Tenants 69
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Beth Byrd Joins Forces with Lamacchia Realty Connecticut

Lamacchia Realty

We are thrilled to announce that Beth Byrd , a well-known and highly respected Leader and REALTOR® in the Connecticut real estate industry, has joined Lamacchia Realty. Beth joined alongside Gina Shumilla as the first two Leaders and REALTORS® to head the new Lamacc hia Realty Connecticut expansion plans. Beth’s nearly ten years of experience in the Connecticut real estate market combined with years of sales experience prior helped form her into an expert in the local industry and a top-notch me

Realty 74
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NAR Economist Thinks Housing Prices Could Rise In 2023—Is That Possible?

BiggerPockets

Most economists agree: Housing prices are expected to fall, nearing a bottom sometime between 2024 and 2025 before rebounding. That’s the opinion of analysts at Goldman Sachs, Wells Fargo, Moody’s Analytics, Capital Economics, The National […].

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The honey badger labor market will still bite housing

Housing Wire

On Friday, the Bureau of Labor Statistics reported that 261,000 jobs were created and we had 29,000 positive revisions to prior reports. This means the honey badger labor market will keep the Federal Reserve from pivoting anytime soon. . This has been a theme of mine lately. Since all my six recession red flags are up, the only data lines that I am focusing on regarding the cylce of economic expansion to recession are job openings and jobless claims data.

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7 Easy Steps to Reduce Appraisal Revision Requests

Clear Capital

How do you feel when an appraisal revision request pops up in your inbox in the morning? Frustrating, right? You already painstakingly checked your appraisal report the previous night before hitting ‘send’ and now you’re on your screen the next day, making revisions to the same report under a tight deadline! . As an appraiser, your time is valuable, and post-delivery requests are time-consuming.

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Inflation Shifts to Slowest Pace Since January

Eyes on Housing

Consumer prices in October saw the smallest year-over-year gain since January 2022, and while still elevated, inflation experienced the first month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and the energy index increased after declining for three straight months. As inflation appears to have peaked and has.

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Virtual Tours and Videos for Your Home's Listing

Eppraisal

Professional-quality still photos are one of the most important marketing tools used in listing homes for sale. According to an article published on April 14, 2021, on Statista.com, "In the 2018 survey, 93 percent of home buyers used online websites when searching for a home in the United States." That number is even higher today. Taking it a step further, videos and virtual tours are now trending more than ever in the world of real estate listings.

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Kate Perrine Qualifies for the 2022 Lamacchia Realty President’s Club

Lamacchia Realty

Kate Perrine has officially qualified for the 2022 Lamacchia Realty President’s Club by selling 33 homes this year! This is her second year in a row qualifying for the prestigious distinction, and she is also a member of the 2021 President’s Club ELITE. Kate is the winner of the 2021 Most Transactions award in the Chelsmford office and was also named a Top Producer in 2021.

Realty 74
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These Housing Markets Will Be The Most Resilient During The Correction

BiggerPockets

With mortgage rates topping 7% and home prices remaining elevated, Americans are less confident than they’ve ever been about their home-buying prospects. According to Fannie Mae, only 16% of consumers believe […].

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Buydowns become key for buyers to beat the market

Housing Wire

It’s a terrible time for homebuyers. Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. By taking advantage of the 2-1 temporary rate buydown, Davis was able to lower her 7.25% mortgage rate by 2% in the first year and by 1.5% in the second year.

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AppraisalWorksâ„¢, Clear Capital Announce Partnership to Streamline Appraisal and Valuation Review for Lenders

Clear Capital

AppraisalWorks , Clear Capital Announce Partnership to Streamline Appraisal and Valuation Review for Lenders. Banks, credit unions, loan servicers and mortgage lenders now have access to a suite of tech-enabled products for property valuation. Cleveland, OH / November 3, 2022 / AppraisalWorks , a leading real estate appraisal technology provider, has today announced a partnership with Clear Capital , a national real estate valuation technology company.

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Labor Market Softens in October

Eyes on Housing

Job growth slowed in October as the Fed continues its tightening of financial conditions to fight inflation, but the overall labor market remains tight. The unemployment rate increased by 0.2 percentage points to 3.7% in October as the number of persons in the labor force decreased for the second straight month.

Marketing 181