Sat.May 01, 2021 - Fri.May 07, 2021

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Navigating appraisal challenges in today’s housing market

Housing Wire

The booming real estate market has created a high demand for appraisal services. This is good news for lenders, but it puts a tremendous amount of pressure on appraisers who have to be diligent in their work, while also meeting closing dates. HousingWire recently spoke with PCV Murcor Founder, President and CEO Keith Murray and COO Cindy Nasser on how the appraisal process can be streamlined in today’s tight housing market. .

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[Podcast] Masters In Business: Jonathan Miller on the Real Estate Industry

Miller Samuel

This is my fourth appearance with my friend Barry Ritholtz, a prolific columnist/blogger, radio show host/podcaster , and wealth management firm head on his Masters In Business show for Bloomberg Radio. He previously interviewed me in 2014 , 2016 and 2020. Barry also posted the interview on his essential Big Picture blog: MiB: Jonathan Miller, Appraiser Extraordinaire in addition to the Bloomberg Masters In Business landing page.

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How much are buyers paying above the asking price?

Sacramento Appraisal Blog

“Buyers are crazy!!! How can they be paying these prices?” That’s what we tend to hear from people who are NOT trying to buy a house right now. It seems like onlookers really don’t understand what it takes to get an offer accepted these days. But for anyone actually in the game, the truth is […].

Buyers 402
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Loan Originator Commissions Increase in Q1

Appraisal Buzz

Refinance and purchase loan volume drove up loan originators’ and processors’ compensation despite a minimal decline in basis points paid per loan. The post Loan Originator Commissions Increase in Q1 appeared first on theMReport.com. The post Loan Originator Commissions Increase in Q1 appeared first on Appraisal Buzz.

Appraisal 370
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When will the Federal Reserve raise rates?

Housing Wire

I propose adding a new pastime to our gold standards of baseball, barbecues, and Thanksgiving dinner. This new pastime I call Fed-Watch or When Will the Fed Raise Rates? Since the financial crisis of 2008, this pastime has gained popularity to the point where this guessing game has become an obsession and started to drive some folks a little batty. Insanity and Gold Bugs go together like a horse and carriage, peanut butter and jelly and salt and pepper, or so I’ve been told. .

Mortgage 488
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Fannie Mae is Not Developing New Appraisal Forms

The Appraiser Coach

Despite what rumors you may have heard, Fannie Mae is not coming out with any new appraisal forms. Of course, I am playing with you a bit; they are coming. Read More.

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Mortgage Rates Continue Dip to Refi-Friendly Lows

Appraisal Buzz

With jobless claims dropping and a decline in Treasury yields, mortgage rates continue to remain below the 3% mark with the spring homebuying season in full swing. The post Mortgage Rates Continue Dip to Refi-Friendly Lows appeared first on theMReport.com. The post Mortgage Rates Continue Dip to Refi-Friendly Lows appeared first on Appraisal Buzz.

Mortgage 347
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More renters and homeowners are making payments

Housing Wire

Fewer than 5 million households failed to make their rent or mortgage payments in March 2021, an improvement from December 2020 and the lowest number since the onset of the COVID-19 pandemic, according to a first quarter 2021 report released by the Mortgage Bankers Association. The study, which surveyed over 8,000 households and was dubbed “Housing – Related Financial Distress During the Pandemic,” found that 7.7% of renters (2.56 million households) missed, delayed, or made a

Tenants 464
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Prospective Buyers Are Quickly Becoming Active Buyers

Eyes on Housing

Of the 16% of American adults considering a future home purchase in the first quarter of 2021, 63% have moved beyond planning and are actively trying to find one to buy, up from the comparable 49% share a year earlier. This increase marks the fifth consecutive year-over-year gain in the share of prospective buyers who have become active buyers. Several.

Buyers 190
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5 Fields and Features to Add to Your Digital Lien Waivers

GoForrmz

Accelerate lien waiver distribution and processing with GoFormz The lien waiver process is a common burden for construction teams. For subcontractors, lien waivers need to be completed, reviewed, and signed each and every month on a project. General contractors, meanwhile, are responsible for distributing, tracking, and processing lien waivers, to ensure their operation is protected from a lien and that the subcontractor can receive their payment.

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Price, Competition, Speed of Sale Set Housing Market Records

Appraisal Buzz

What will it take to create more balanced market and a less-intimidating environment for homebuyers and sellers? Experts weigh in with a new report. The post Price, Competition, Speed of Sale Set Housing Market Records appeared first on DSNews. The post Price, Competition, Speed of Sale Set Housing Market Records appeared first on Appraisal Buzz.

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What a dismal jobs report means for the housing market

Housing Wire

April was supposed to be the month that proved America’s economy had definitively kicked back into full gear. After all, roughly one million jobs were added in March , roughly 40% of the population had achieved vaccination, and key sectors of the economy planned large-scale reopenings. Instead, the U.S. Labor Department reported that a mere 266,000 new jobs were created in April, far below projections.

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Some Buyers Perceive an Improvement in Housing Affordability

Eyes on Housing

For some home buyers, housing affordability has improved. According to the Housing Trends Report for the first quarter of 2021, 35% of buyers report being able to afford half or more of the homes available for-sale in their markets. A year earlier, that share was 23%. The increase is an indication that still relatively low mortgage rates continue to have.

Buyers 168
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Customer Story: Omega Construction

GoForrmz

“ There are time savings not only on the frontend, when we’re importing data, but also on the backend when we don’t have to correct mistakes that we otherwise might have made through manual entry. ” — Greg Marshall, CFO, Omega Construction. About Omega Construction Since 1975, Omega Construction has provided pre-construction and construction services to a variety of industries, including hospitality, retail, industrial and distribution, historic preservation, and commercial.

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Racing the Clock

Appraisal Buzz

Meeting the needs of today’s mortgage customers with accuracy and speed is more important than ever. Here’s how the industry is working to shorten turnaround times while maintaining a commitment to quality. The post Racing the Clock appeared first on theMReport.com. The post Racing the Clock appeared first on Appraisal Buzz.

Appraisal 221
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6 things you should do after moving into your new home

Housing Wire

You’re all moved into your new home – now what? Unfortunately, there’s still work to be done until you can sit back and relax. And no, we’re not talking about scrolling through Pinterest for decor inspiration. As a new homeowner , there are a few important things you should do now that you’ve moved in to ensure your home is safe and secure.

HOA 457
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Residential Construction Employment Rose Slightly in April

Eyes on Housing

Job gains unexpectedly slowed in April as states lifted COVID-19 restrictions on businesses and more people are vaccinated. Total payroll employment rose by only 266,000 and the unemployment rate increased to 6.1% in April. This was a surprisingly disappointing report on the macro level. Residential construction employment rose by 3,100 in April, after an increase of 28,700 in March.

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First-Time Homebuyers and Sellers Flood the Market

McKissock

It’s no secret that 2020 was a crazy year for real estate. Just about every market across the United States saw a huge influx of first-time homebuyers and sellers as a result of record-low mortgage rates and the desire for more space. Last month (April), we asked our CE Plus members , “Over the past 12 months, approximately what percentage of your clientele have been first-time real estate buyers or sellers?

Sellers 95
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Fannie/Freddie Provide Details on New Refi Options; Who's Driving Home Price Gains?

Appraisal Buzz

Fannie Mae and Freddie Mac (the GSEs) have provided details for their streamlined refinance programs that were originally announced by the Federal Housing Finance Agency (FHFA) last month. The programs, named “RefiNow” by Fannie Mae and “Refi Possible” by Freddie Mac, will be available starting June 5 for Fannie Mae’s borrowers but not until August 30 through Freddie Mac.

Design 225
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Mortgage complaints hit three-year-high, CFPB says

Housing Wire

In April, the Consumer Financial Protection Bureau warned the industry of its plans to keep a much closer eye on servicers as they transition borrowers out of forbearance. On Tuesday, a report from the government watchdog may have just kicked up the incentive. According to the report, in March 2021, consumers submitted more mortgage complaints to the CFPB than in any month since April 2018.

Mortgage 442
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Latest Senior Loan Officer Opinion Survey Indicates Easing Credit Standards

Eyes on Housing

The latest results from the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) present standards on bank lending practices as they occurred in the first quarter of 2021. The three major categories of lending covered by the survey are Commercial and Industrial (C&I) loans, Commercial Real Estate (CRE) loans, and Residential Real Estate (RRE) loans.

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The Top 3 Digital Forms for Cosmetology and Personal Care Services

GoForrmz

Use digital forms to streamline the completion of frequently completed tasks, like client intake and payroll Paper forms, filing supplies, and physical record-keeping burden cosmetology and personal care services teams. From the costly nature of physical documentation to their resulting administrative demands, paper forms are simply more trouble than they are worth.

Clients 78
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Rising Rates No Obstacle to Millennials

Appraisal Buzz

Millennial homebuyers shook off a slight rise in rates in March as this segment of the market continues to lead the homeownership charge. The post Rising Rates No Obstacle to Millennials appeared first on theMReport.com. The post Rising Rates No Obstacle to Millennials appeared first on Appraisal Buzz.

Appraisal 195
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DIY projects to increase your home value

Housing Wire

In the past year, there’s been an upturn in home improvement projects. According to a survey completed by Bid-On-Equipment, 89% of American homeowners made some sort of improvement to their homes during the pandemic. 58% of those individuals did the work themselves. With so many American’s spending time at home, this really shouldn’t come as a surprise.

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Housing Affordability Shows Signs of Weakening as Challenges Lie Ahead

Eyes on Housing

Housing affordability weakened slightly during the first quarter of 2021 as rising material costs and supply shortages, along with expected increases in mortgage rates stemming from a growing economy, are likely to exacerbate affordability challenges in the year ahead. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), 63.1 percent of new and existing homes.

Mortgage 157
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Lumber Prices Surge to Another Record High

Empire Appraisal Group

Lumber Prices Surge to Another Record High. Source: Lumber Prices Surge to Another Record High | Realtor Magazine. The price of lumber hit a record high last week and is up more than 170% over the past 10 months. That is prompting builders to have to raise new-home prices as soaring lumber costs add thousands of dollars to the price of building a new home, the National Association of Home Builders reports.

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Ocwen Closes MSR Joint Venture

Appraisal Buzz

New deal expands Ocwen’s servicing and subservicing portfolios, through the acquisition of Fannie Mae and Freddie Mac MSRs. The post Ocwen Closes MSR Joint Venture appeared first on DSNews. The post Ocwen Closes MSR Joint Venture appeared first on Appraisal Buzz.

Appraisal 195
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Rocket Mortgage prepares for a slowdown

Housing Wire

Rocket Mortgage originated more than $100 billion in mortgages for yet another quarter, but profit margins are trending down. And the country’s largest mortgage lender expects a good-sized slowdown in the second quarter of 2021. All told, the Detroit lending powerhouse originated $103.6 billion in closed loans in the first quarter of 2020, more than double its originations in Q1 2020.

Mortgage 414
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10 Things to Know BEFORE Moving to Clayton NC: Living in Clayton

Raleigh Realty

Living in Clayton, North Carolina Moving to Clayton, NC? Here's what you need to know about living in Clayton Considered the 1 Place to Live in Johnston County, Clayton is one of the best places to live in North Carolina. Located close to Raleigh, living in Clayton will provide residents with a small suburban feel while having easy access to the hustle and bustle of city life in the state’s capital.

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What You Missed From BPInsights: Will the Housing Market Cool Off Soon?

BiggerPockets

It’s been a rough couple of months for anyone looking for deals—particularly on the MLS. People just haven’t been selling their houses. It makes sense that inventory is low. With […].

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The Week Ahead: HUD Deputy Secretary Nominee to Speak Before Senate

Appraisal Buzz

Nominated for the role of HUD Deputy Secretary, NAHRO CEO Adrianne Todman will appear on Capitol Hill this week, another step toward confirmation of her new position. The post The Week Ahead: HUD Deputy Secretary Nominee to Speak Before Senate appeared first on theMReport.com. The post The Week Ahead: HUD Deputy Secretary Nominee to Speak Before Senate appeared first on Appraisal Buzz.

Appraisal 195
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Lenders, economists question first-time homebuyer bills

Housing Wire

While the first-time homebuyers welcomed news of a down payment assistance grant or tax credit, the mortgage industry and housing experts expressed deep skepticism. Two proposals under consideration in Congress aim to give first-time homebuyers a leg up by offering a grant at closing time, or a tax credit after the fact. Loan officers — who are monitoring the progress of both legislative efforts closely — aren’t in love with either of those options.

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5 Resources to Help You Pass the National Appraisal Exam

McKissock

All real estate appraisers must pass the National Uniform Licensing and Certification Examination as the final step toward earning their appraisal license. The test is not easy to pass. On average, more than 1 in 3 people fail the exam on the first try, according to The Appraisal Foundation exam statistics for 2015-2020. The good news is that there are tools available to help you succeed.

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How the Best Landlords Manage Their Online Reputation

BiggerPockets

If you want to be a successful landlord, your reputation is your greatest asset. Landlords with an excellent reputation attract better tenants and have fewer vacancies. Don't leave your online reputation to chance.