July, 2022

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.

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.

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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.

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.

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.

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.

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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?

A sharp change in the housing market

Sacramento Appraisal Blog

A quick change in rates has led to a quick change in the housing market. We didn’t see much difference right away in the stats, but we are finally getting some good numbers now. Let me show you what I mean.

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.

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.

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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.

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.

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!

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.

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.

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.

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).

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.

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.

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.

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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.

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.

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.

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.

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.

7 Major Home Inspection Issues {2022}

Raleigh Realty

Major Home Inspection Issues and How to Handle Repairs If your home inspection turns up any of these 7 major issues it could be time to negotiate some mandatory fixes with the seller before you proceed with purchasing the home. After a home inspection, issues are going to arise.

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.

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.

How Big Data Is Transforming the Healthcare Industry

GoForrmz

Enterprise data has only just started to revolutionize healthcare It’s easy to measure the impact of enterprise data on technical industries; from tech start-ups to eCommerce sites, the information gathered can be tied to individual transactions.

Examining the Latest Trends: Signing Bonuses, Their Structure, Data and Tools

Appraisal Buzz

Even in today’s challenging market, high-producing loan officers remain in high demand, according to mortgage advisory firm STRATMOR Group. Recruiting them often comes down to the quality of the offer a lender can make.

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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%).

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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

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.

What does another good job report mean for a recession?

Housing Wire

What does it mean to get a positive job report with all the talk about a recession, which ramped up starting in January 2022? Let’s look at the U.S. jobs and economic numbers as five of my six recession red flags are up today.