July, 2022

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Buyers take power from sellers. It’s their turn.

Sacramento Appraisal Blog

Finally. Buyers are gaining power. And sellers are losing it. I have some new visuals to show what the market is doing right now. These are for Sacramento, but I suspect many areas look similar.

Sellers 394
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Do Appraisal Gap Clauses Impact Appraisals?

Cleveland Appraisal Blog

I recently gave a presentation and was asked if appraisal gap clauses impact the way appraisers are developing their opinion of value? In other words, do appraisal gap clauses cause appraisers to be more “conservative”? An appraisal gap clause can be written into a contract.

Appraisal 316
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Smart Inspections

The Appraiser Coach

I was recently contacted by an individual with a question. This woman said that she has been using an iPad for years to do her mobile inspections, but had heard. Read More.

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With home sales down, why are home prices still up?

Housing Wire

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows.

Inventory 425
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Market Correction or Seller Panic?

Appraisal Buzz

Unless you’re living under a rock, you have heard that interest rates have been rapidly increasing since Q1 of 2022. The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021.

Sellers 355
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Why Price Indexing?

George Dell

Market-specific price indexing is powerful and underused! It improves accuracy and precision of appraisals. It enables an objective market analysis. It forms a natural path from traditional, judgment-based appraisal to informative, evidence-based professional analyses.

More Trending

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Is A Cubicasa Scan an Inspection?

Cleveland Appraisal Blog

In one Facebook group the other day, (yes, I’m back on Facebook ) one member mentioned they feel that a person who scans a property to provide an appraiser with a floor plan should be licensed. What do you think?

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Less Isn’t Always More

The Appraiser Coach

I’ve been asked how much should be filled out on site during a mobile appraisal. I know there’s a lot of ways out there to do this; there are almost. Read More.

Business 310
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U.S. House passes remote online notarization bill

Housing Wire

The U.S. House of Representatives passed a bill late Wednesday creating federal minimum standards, which would allow notaries nationwide to perform remote online notarizations. The legislation passed the House with a vote of 336-90.

Law 418
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Accurity Consolidated Sets Impressive Goals, Shatters Records

Appraisal Buzz

HOUSTON, TX (July 6, 2022) – Accurity Consolidated is once again turning heads and taking its place as the highlight of appraisal industry conversations. The company’s innovative team of appraisers continue to set impressive goals and break records that are simply unheard of among the competition.

Appraisal 329
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Part I: Why R?

George Dell

Why the letter R? R is a letter. It may be the most important letter to you since Sesame Street! Appraisal services as we have known them continue to decline. AVMs continue to capture a larger market share. Slowly, but surely. But the AVM industry has other issues.

Marketing 195
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Spiking housing supply & fewer buyers

Sacramento Appraisal Blog

Finally. We’ve seen a massive change with housing inventory. But is it because sellers are rushing to list their homes? That’s not the culprit. Let’s talk about supply and some things on my mind about today’s market.

Buyers 348
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Tips for Moving Out of State: Here’s What You Need to Know for Your Big Move

Cleveland Appraisal Blog

In recent years, with the advent of remote work, many are moving to different states. This week, I welcome back guest writer June Duncan who shares some tips for those planning on moving out of state. Enjoy!

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Love What You Do, Do What You Love

The Appraiser Coach

Imagine yourself on a crisp sunny day in February bombing down a hill of fresh powder in your new skis… can you picture it? Or maybe instead of shredding the. Read More.

Business 195
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Existing home sales are still savagely unhealthy

Housing Wire

The savagely unhealthy housing market is continuing as we get closer to August. But, there is one bright spot — inventory is rising. We still have the unhealthy dynamics of noticeable sales declines, but prices are still growing year over year.

Inventory 410
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Dennis Hermonstyne Jr. Leads Compliance Programs at Freddie Mac

Appraisal Buzz

Dennis Hermonstyne Jr. is joining Freddie Mac as senior vice president and chief compliance officer (CCO) as of September 19. He brings over 20 years of experience managing compliance programs for national banks and international financial services companies to Freddie Mac.

Appraisal 311
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Part 3: Fixing an Appraiser Excess?

George Dell

How do Standards effect the excess of appraisers? The excess of appraisers is cyclical. It persists by the five forces of friction: practices, standards education, regulation, and client expectation. In this blog issue, we consider the second friction (appraisal standards).

Appraisal 195
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Is the housing market getting back to normal?

Sacramento Appraisal Blog

“The housing market is getting back to normal.” ” I hear that quite a bit, but is it true? Well, yes and no. Let me explain.

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Making Your First Home Purchase Choice

Cleveland Appraisal Blog

Purchasing your first home is exciting! There are a lot of choices to consider. This week, I welcome back guest blogger Shirley Martin, who shares her insights on this topic. I hope you enjoy this one! Image by Pexels. Making Your First Home Purchase Choice.

Appraisal 251
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Stop Putting it Off!

The Appraiser Coach

A couple years ago, I was out skiing with my boys, something I try to do once a week during the winter. We had a great time, but at one. Read More.

Business 195
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New home sales make it clear: Housing is in a recession

Housing Wire

Tuesday’s report on new home sales came in as a miss of estimates and prior revisions were all negative. This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession.

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Non-QM Wholesale Lender Emporium TPO Using OptifNow for CRM, Marketing Automation

Appraisal Buzz

Emporium TPO , a non-QM wholesale lender headed by mortgage banking veterans Steve Nadon and Daniel Goodwin, is now using OptifiNow as its CRM and marketing automation and CRM platform.

Lending 311
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What is a Valuation Model?

George Dell

A valuation model may not be a model valuation. What happened with that sentence? It’s called “equivocation.” Something I learned about in my college English class. What I learned is that a word can be used for different meanings.

Valuation 195
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Builder Confidence Plunges as Affordability Woes Mount

Eyes on Housing

Builder confidence plunged in July as high inflation and increased interest rates stalled the housing market by dramatically slowing sales and buyer traffic.

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Marin County Home Prices by City – July 2022

Realvals

The following map shows the Marin County home prices by city for July 2022. Insights are below. Marin County home prices continue to increase towards the end of July 2022, for the most part, despite the higher interest rates, time of year, and other macroeconomic factors.

Marketing 124
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Zillow: Certain doors can increase home values

Valuation Review

A statement-making front door can boost a home’s curb appeal and its value. Research from Zillow finds homes with slate blue or black front doors appeal to more recent and prospective buyers and could sell for a higher price. Read on for more from this report

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The housing market recession continues, despite starts data

Housing Wire

real estate investors and affordable homes. The June housing starts data beat estimates with positive revisions, however, this doesn’t change the housing market recession call that I made last month.

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Mortgage Rates Fall Ahead of Fed Rate Hike

Appraisal Buzz

In anticipation of another rate hike by the Federal Reserve, mortgage rates retreated downward this week, as purchase demand continued to fall, as the prospect of a recession continues to loom. The post Mortgage Rates Fall Ahead of Fed Rate Hike appeared first on theMReport.com.

Appraisal 311
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The Tide is Turning- July Newsletter

DW Slater Company

Here in Texas, we are dealing with a heat wave and drought, reminiscent of the 1980 heat wave. Our power grid and ERCOT (the power grid regulating entity) have been challenged and I found myself checking their real-time grid that tracks the supply and demand of power.

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Housing Demand Flattens as 1st-Time Buyers Retreat

Eyes on Housing

The share of adults planning a home purchase within a year stood at 13% in the second quarter of 2022, unchanged from the previous quarter, but lower than a year earlier (17%).

Buyers 139
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5 Valuation Methods for Investment in Real Estate

McKissock

How do you determine the investment value of a property? Well, it’s an art. It’s not like valuing a house in which you are going to live. That would be the homeowner value. When estimating a property’s investment value, there are a variety of real estate valuation methods you can use.

Valuation 103
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Commercial real estate title minted as NFT on blockchain

Valuation Review

Utah-based virtual reality company Future House Studios minted its office deed as an NFT (non-fungible token), marking the first time an office building has been put on blockchain. Future House Studios used a new legal model through TruMint that allows real property to remain and transact indefinitely on blockchains with reduced transaction costs

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Sprout Mortgage to shutter

Housing Wire

Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday. The company informed workers of the shut down in a conference call on Wednesday, a former staffer said.

Mortgage 405
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Inflationary Concerns Spur Homebuyer Hesitation

Appraisal Buzz

A recent Quicken survey found that 21% of those polled planned to buy a first or new house in 2022, with 69% of that segment now reconsidering that move. The post Inflationary Concerns Spur Homebuyer Hesitation appeared first on theMReport.com.

Appraisal 311