April, 2022

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What Metaverse real estate means for mortgage professionals

Housing Wire

The Metaverse is defined as the simulated digital world that mimics the real world through virtual reality and augmented reality in which users can interact. As the Metaverse expands, its offerings now include “virtual” real estate. But what does virtual real estate mean for real-world mortgage professionals? Defining virtual real estate. “Actual” real estate is defined as property consisting of land or buildings, and everything that is permanently attached to the land.

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A shift in demand in the housing market

Sacramento Appraisal Blog

Do you feel that? It’s change. The housing market is still elevated, but there’s no mistaking a different temperature – especially over the past week. STUFF ON MY MIND: This is designed to scroll quickly or digest slowly. The goal is to highlight stats and things I’m watching. An elevated market with a shift in […].

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Send Us Your Crazy Appraisal Stories!

Appraisal Buzz

This article was first published in the Appraisal Buzz Magazine. If you have shared a story with us in the past that was never published, please resend it. Your story could be one of the best this time around! Send your stories to comments@appraisalbuzz.com. Have you ever walked away from a day thinking, “No one’s EVER going to believe this!” Well, we want to hear all about it!

Appraisal 413
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Bias: Blame the Messenger?

George Dell

The messenger. Psychology research easily points out our tendency to dislike the bearer of bad news. It’s also intuitive. Bad news messengers do not smile when they bring the news. Sometimes they even look guilty. We humans can be really basic. We see a correlation between the bad news, the frown, and the messenger. Appraisers […]. The post Bias: Blame the Messenger?

Appraisal 369
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Is Your “Crazy” Neighbor Lowering Your Home’s Value?

Cleveland Appraisal Blog

It’s tax appeal season and I’ve had several homeowners say that they feel their neighbors are negatively impacting the value of their home for different reasons. Is that the case? Can that be the case? Let’s talk about it. The homeowners of one property stated that their neighbors are a nuisance. My clients said that one of their neighbors has people coming and going until late in the evening, most evenings.

Appraisal 348
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Elliman Magazine Column - A Symptom of Chronic Inventory Lows: Bidding Wars Are Everywhere

Miller Samuel

For each issue of Elliman Magazine produced by Douglas Elliman , the same company that publishes most of our U.S. market research , I write a brief column and create a graphic to illustrate an important issue facing the luxury housing market. Of course, the graphic I create is then supercharged by their very talented graphics staff. Listing inventory has essentially collapsed in most U.S. housing markets as unusually low rates against the backdrop of robust economic conditions have burned off su

Inventory 339

More Trending

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Scott Peterson’s house & raging price growth

Sacramento Appraisal Blog

I have two things on my mind today. Scott Peterson’s house hit the market. And price growth has been raging so far in 2022. Let’s talk about this. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm. We’ll talk through choosing comps, making adjustments, and lots of practical scenarios. […].

Appraisal 466
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Housing Finance, Technology, and the Future of the Appraisal Industry

Appraisal Buzz

Today’s Buzzcast interview is with Dave Stevens, CEO of Mountain Lake Consulting and Luke Tomaszewski, CEO of Proxy Pics. We sat down with Dave, Luke, and Joan Trice, Founder of Allterra Group, LLC to discuss the 3,000 foot view on housing finance, what’s happening next in the appraisal industry, and learning more about the future of technology in the appraisal industry.

Appraisal 397
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Housing Market at Inflection Point as Builder Confidence Continues to Fall

Eyes on Housing

Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability. Builder confidence in the market for newly built single-family homes moved two points lower to 77 in April, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

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April Newsletter-Markets Still Flying

DW Slater Company

Azalea District, Tyler, TX. “Winter’s done, and April’s in the skies, Earth, look up with laughter in your eyes!” Charles G. D. Roberts. It has been an unusual April in North Texas this year and one of the windiest on record! The picture above was taken in the Azalea District in Tyler, TX a day before high winds came through and uprooted many trees in the area.

Appraisal 162
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GoFormz Celebrates Earth Day 2022

GoForrmz

This Earth Day 2022, we are incredibly proud of our paperless customers working towards a greener workplace As we observe another Earth Day, here at GoFormz we celebrate by recognizing all of our customers that have taken incredible strides in their paperless initiatives. By digitizing physical paper documents, collectively we have saved over 18,035 trees by digitizing over 41,398,474 form s – that’s more than 150,291,205 pages of paper !

Clients 148
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FHA unveils 40-year loan modification option

Housing Wire

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input. The proposed rule , published by the Department of Housing and Urban Development late last week, would change repayment provisions for FHA borrowers, allowing lenders to recast a borrower’s total unpaid loan for an additional 120 months.

Mortgage 525
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That one super skinny house (eight feet wide)

Sacramento Appraisal Blog

Could you live in a tiny home? Or what about a skinny home? I’m talking where walls range anywhere from eight feet to twelve feet wide at their maximum. Well, let’s talk about a super thin unit that sold recently in Sacramento. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm. We’ll […].

Appraisal 461
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Home Value Forecast Predicts Slowdown in Growth

Appraisal Buzz

Rapidly rising mortgage rates are worsening affordability challenges that have been brought on by record home value growth. According to the March Zillow Real Estate Market Report, monthly mortgage payments on the typical U.S. home are 19.5% higher than they were three months ago, and 38% higher than a year ago. Despite this, the pace … The post Home Value Forecast Predicts Slowdown in Growth appeared first on DSNews.

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Building Materials Prices Rise Further

Eyes on Housing

According to the latest Producer Price Index (PPI) report released today by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 1.4% in March, following an upwardly revised increase of 2.2% in February and 4.1% in January. This adds up to an 8% jump in building materials prices since the start.

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A Room-by-Room Guide to Eco-Friendly Home Modifications and Renovations

Raleigh Realty

Sustainable Renovations for Every Room Whether you buy an older home or a new construction home, there are most likely modifications and renovations you can do to make your new house more eco-friendly. If you are looking to spend less money on your energy bill each month, are looking to downsize your home to live more efficiently, want to reduce your environmental impact, or you want to increase the value of your home before you get it appraised for a new sales listing, there have never been mor

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Join Us At Field Service USA 2022

GoForrmz

We’ll be exhibiting and presenting at Field Service USA 2022 – will we see you there? We are thrilled to once again be sponsors of Field Service USA (April 26-28, 2022)! Will we see you there? If you’ll also be attending, be sure to stop by our booth (#209) and attend our case study presentation featuring Strategic Sanitation Services. More info on our case study presentation: We’ll be presenting our industry case study, ‘ How Field Service Teams Garner Impactful Business Insights With Digital D

Business 148
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The VA’s little-known program for Native American veterans

Housing Wire

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S. from 2012 to 2021. This represents less than 1% of the estimated potentially eligible population of 70,000 veterans, the watchdog agency said.

Mortgage 515
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The housing market temperature has changed

Sacramento Appraisal Blog

Do you feel it? The temperature of the housing market has started to change. Let’s talk about what’s going on, and what this means and doesn’t mean. I’d love to hear your take in the comments. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm. We’ll talk through choosing comps, making adjustments, […].

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Relocation Trends for Buyers in 2022

Appraisal Buzz

The housing market has been a roller coaster ride since COVID-19 began, and it hasn’t shown signs of stopping in 2022. It’s increasingly difficult for home appraisers to predict what will happen next, between seller booms and fluctuating mortgage rates. Here are some buyer relocation trends to watch out for in 2022’s hectic real estate market. More Second Home Purchases.

Buyers 370
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Highest Paid Occupations in Construction in 2021

Eyes on Housing

According to the latest May 2021 Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $49,070 and the top 25% make at least $75,820. In comparison, the U.S. median wage is $45,760, while the top quartile (top 25%) makes.

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LGBTQ+ Housing Guide: How to Find a Welcoming Home

Raleigh Realty

LGBTQ+ Guide to Finding a New Home LGBTQ+ Housing Guide: How to Find a Welcoming Home From discriminatory lending practices to exorbitant interest rates, LGBTQ people have faced many barriers to homeownership. As the movement for equality continues, it's important to understand the obstacles that have been overcome and the obstacles that still need to be overcome.

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[Webinar] Getting Started With GoFormz

GoForrmz

Learn to navigate the GoFormz platform, create your first Template, fill out your first digital form, share forms, and more! Whether you’re new to GoFormz or simply need a refresher, check out this quick ‘Getting Started with GoFormz’ webinar to learn how to: Create your first digital form Template Fill out your first digital form in the GoFormz app Explore GoFormz features ‘Beyond the Form’ (like form sharing, reports, and more) …and more!

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FHA adds 40-year loan term to COVID-19 arsenal

Housing Wire

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies. For now, only borrowers financially impacted by the pandemic can opt for the loss mitigation option, and it may only be used in combination with a partial claim option.

Mortgage 508
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How To Find & Lease Commercial Space for Rent in 2022 [Full Guide]

The Robert Weiler Company

What’s the worst kept secret this year? Well, it could be that commercial space for rent in Columbus, Ohio, is booming. Why? Thanks to a confluence of factors, namely an influx of younger residents, robust institutions of higher learning, a fortuitous location smack dab within a few hours’ drive of the bulk of the U.S. population, and a lower cost of living as compared to the coasts.

Landlords 144
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The Impact of Inflation on Housing Prices

Appraisal Buzz

The topic of inflation has dominated the news cycle lately. Let’s put aside for the moment the causes of the steadily increasing rate of inflation, and instead take a closer look at what impact it has on housing prices. Let me preface this by saying I don’t have a crystal ball (or a Delorean) so I can’t tell you what the future holds for residential real estate.

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Buyers’ Perceptions of Housing Availability Fall Back to 2018 Levels

Eyes on Housing

Buyers’ expectations of housing availability continue to worsen. At its peak in the 4th quarter of 2020, 36% expected the home search to get easier in the months ahead. After five straight drops, the share is now 17% – a level not seen since 2018. In contrast, 74% expect the search for a home to get harder/stay the same. Buyers’.

Buyers 172
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Best Facebook Groups for Real Estate Appraisers

McKissock

Engaging in online forums and social media groups for real estate appraisers can be a great way to keep up-to-date on industry news , ask questions, connect with other appraisers, and even get referrals. But with so many options out there, it may be difficult to determine which groups are worth joining. To help you narrow it down, we asked our appraisal community, “What’s the best Facebook Group for real estate appraisers?

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Did Housing Inventory in Atlanta Increase in the 1st Qtr of 2022?

Hank Miller Team

April breaks over Georgia and the pencil necked geeks hike up their socks and tape up their glasses. It's time to answer the nagging question…did housing inventory in Atlanta increase during the first quarter of 2022? Well that answer is more than a yes/no binary option, context is needed and that’s best done by looking back a bit. The first quarter of any year around Atlanta tends to set up the second one.

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What 5% mortgage rates mean for the housing market?

Housing Wire

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. This topic is something very near and dear to my heart because going back to the summer of 2020, I have said that one of the only factors that could cool down the housing market was the 10-year yield getting over 1.94%, which would result in higher mortgage rates.

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Users Guide for Powering Your Home With Solar Energy

Will Springer Realtor

Have you noticed your electric bills are going up and up? No matter what we do to combat rising energy costs, keeping warm in winter and cool in summer gets more expensive every year. That’s why some of our neighbors are “going solar” in a move that could pay dividends down the road. But how do you even begin to consider making the switch? Let’s start with that electric bill and a few other numbers.

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Strong Job Gains in March Pushed Unemployment Rate Down to 3.6 Percent

Appraisal Buzz

The U.S. economy added 431,000 jobs in March – slightly below expectations – while the unemployment rate dipped to 3.6%, according to the U.S. Bureau of Labor Statistics. Notable job gains continued in leisure and hospitality, professional and business services, retail trade, and manufacturing. The number of unemployed persons decreased by 318,000 to 6.0 million.

Appraisal 370
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Inflation Hits Another New 40-Year High in March

Eyes on Housing

Driven by higher food, gasoline and housing cost, consumer prices continued to accelerate in March. This marked the sixth straight month for inflation above a 6% rate and was the fastest annual pace since December 1981. Though gas prices have fallen slightly from their March highs, the pace of inflation will likely stay high in the months ahead as lockdowns.

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Disclosure Example: Extraordinary Assumption

McKissock

In an appraisal assignment, an extraordinary assumption is employed to presume certain unknown information as fact. An extraordinary assumption is related to a specific assignment, and takes information that is unknown as of the effective date of the assignment results and assumes it to be true. If this assumption were found to be false, it could affect the appraiser’s opinions and conclusions.

Appraisal 105