Housing Wire

JUNE 17, 2021

Median home-sale prices hit yet another record high in May — up to $377,200, a 26% increase year over year. And 54% of homes sold above their asking price in May — another a record high, up from 26% a year ago, according to a new report from Redfin. The report also shows the housing market also set new records for home-selling speeds and competition, although seasonally adjusted home sales and new listings flattened from April.

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Housing Market New Listings Sellers Buyers 534

Appraisal Buzz

JUNE 14, 2021

Fannie and Freddie are slowly rolling back some of the COVID-era regulations that have facilitated getting appraisals done during the pandemic. Appraisers are starting to get one-off requests from Fannie and Freddie for more information and an interior inspection, even though the property already had a COVID-alternative accepted. This rush to return to the status quo has created buzz in the appraisal industry—a wish that Fannie and Freddie were talking to appraisers about how to make the apprais

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Appraisal Appraisal Process Technology Housing Market 435

Miller Samuel

JUNE 18, 2021

[click image for free registration]. I'm a Counselor of Real Estate (CRE) and wanted to share this. Join The Counselors of Real Estate on June 23 for the unveiling of the 2021-22 Top Ten Issues Affecting Real Estate ®. Now in its 10th year, this signature thought leadership initiative identifies the current and emerging issues expected to have the most significant impact on all sectors of real estate.

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Sacramento Appraisal Blog

JUNE 17, 2021

Are you taking a vacation this year? It seems like half my Instagram feed is in Hawaii right now. I’m not doing anything that big, but I did get back yesterday from a few days in Santa Cruz and it was just what I needed. Here’s a video of me longboarding… I guess I’m about […].

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Housing Market Marketing Real Estate Appraisal 336

Housing Wire

JUNE 14, 2021

Mortgages in forbearance fell for the 15th consecutive week last week to 4.04% of servicers portfolio volume ? a 12 basis point decline , according to a survey from the Mortgage Bankers Association. As of June 6, the MBA now estimates 2 million borrowers are still in some form of forbearance. Last week witnessed a steeper drop than in previous weeks, likely the result of many borrowers reaching their 15-month expiration date, said Mike Fratantoni, MBA’s senior vice president and chief econ

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Mortgage Investors 530

Appraisal Buzz

JUNE 18, 2021

While vaccine rollouts mean some things are returning to normal, changes in consumers’ priorities could linger. The post House Hunters’ Evolving Wants, Needs, and Willingness to Compromise appeared first on theMReport.com. The post House Hunters’ Evolving Wants, Needs, and Willingness to Compromise appeared first on Appraisal Buzz.

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Appraisal 370

George Dell

JUNE 16, 2021

Exploratory Data Analysis (EDA) is an implicit part of traditional appraisal. The appraiser invokes education, training, and market area familiarity to decide on comparables and adjustments to be made. The process takes place fully in the mind of a competent practitioner. EDA is expressed in quasi-governmental standards (USPAP) as a focus on the subject property’s: […].

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Housing Wire

JUNE 16, 2021

After three straight weeks of declines , mortgage applications increased 4.2% for the week ending June 11, 2021, according to the latest report from the Mortgage Bankers Association. Both purchase and refinance applications increased, with refinances notably up 5.5%, according to Joel Kan, the MBA’s vice president of economic and industry forecasting. “The jump in refinances was the result of the 30-year fixed rate falling for the third straight week to 3.11%, which is the lowest since ear

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Appraisal Buzz

JUNE 17, 2021

Freddie Mac’s latest Primary Mortgage Market Survey (PMMS) shows that the 30-year fixed-rate mortgage (FRM) averaged 2.93 percent for the week ending June 17, down from 2.96 percent a week earlier. A year ago at this time, the 30-year FRM averaged 3.13 percent. The PMMS also shows that the 15-year fixed-rate mortgage averaged 2.24 percent with an average 0.6 point, up slightly from last week, when it averaged 2.23 percent.

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Mortgage Appraisal Marketing 370

Eyes on Housing

JUNE 17, 2021

In the recent NAHB study, What Home Buyers Really Want, 2021 Edition, side-by-side double sinks and walk-in pantries ranked as the most popular of 30 listed kitchen features. This result is based on a comprehensive, nationwide survey of 3,247 recent and prospective home buyers conducted in the summer of 2020. Among other things, the survey asked recent and prospective buyers.

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Buyers 180

GoForrmz

JUNE 16, 2021

Elevate your digital forms and data capture with these powerful features Whether you've just uploaded your first form to the GoFormz form editor or your entire form collection is already digital, these five features can take your digital forms and data capture further. Dynamic Field Properties Your form fields can be easily configured to guide user data entry and enforce data capture rules.

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Housing Wire

JUNE 14, 2021

The recent action in the 10-year bond yield has puzzled many people, but it looks wonderful to me as it shows that the U.S. economy is leading the world out of the recession. When I wrote the America Is Back economic model on April 7, 2020, the bond market was already signaling that the economy and housing would be ok. In addition to the bond market yield action, responsible lending post-2010 gave me confidence that forbearance was not going to be the negative issue that many had hoped for.

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Lending Marketing Housing Market 515

Appraisal Buzz

JUNE 16, 2021

In today’s Buzzcast, we dive into market value versus sales price and how today’s wild market should be something all appraisers need to be up-to-date on. Today we have Nikki Smith, Chief Appraiser of Tucson Real Estate Appraisal, with Joan Trice, Founder of Allterra Group, LLC. They delve into a deep discussion regarding the two and how they impact where we are today in the market.

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Market Value Marketing Housing Market Appraisal 370

Eyes on Housing

JUNE 17, 2021

Prices paid for goods used in residential construction ex-energy rose 3.6% in May (not seasonally adjusted) and have increased 16.5% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019.

Construction 169

Construction 169

GoForrmz

JUNE 14, 2021

Simplify the collection of signed lien waivers with digital form sharing Lien waivers can be frustrating. With paper forms and PDFs, the lien waiver process can result in significant delays due to form mismanagement, incorrect data entry, missing signatures, and lengthy delivery wait times. These delays, in turn, result in sluggish payments and frequent miscommunication.

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Business Construction 158

Housing Wire

JUNE 17, 2021

“These are the best of times,” declared Stuart Miller, chairman of the board for Lennar Thursday. And the homebuilder’s quarterly financial performance backs up what Miller is talking about. Lennar, best known for producing homes for the middle class, reported $831 million in net income for the months of March, April and May, a 61% increase from the same three months in 2020, which coincided with the pandemic’s onset.

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Supply Chain Construction Investing Business 466

Appraisal Buzz

JUNE 15, 2021

In today’s Buzzcast, we dive into market value versus sales price and how today’s wild market should be something all appraisers need to be up-to-date on. Today we have Nikki Smith, Chief Appraiser of Tucson Real Estate Appraisal, with Joan Trice, Founder of Allterra Group, LLC. They delve into a deep discussion regarding the two and how they impact where we are today in the market.

Market Value 370

Market Value Marketing Appraisal Real Estate 370

Eyes on Housing

JUNE 14, 2021

The average length of time to complete construction of a multifamily building, after obtaining authorization, is 17.4 months, according to the 2020 Survey of Construction (SOC) from the Census Bureau. The authorization-to-completion time in 2020 was relatively unchanged from 2019, slowing down the upward trend since 2013. The average time to build multifamily homes varies with the number of.

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Construction 167

Urban

JUNE 16, 2021

The inequities Black families experience in the Twin Cities illustrates the larger systemic barriers surrounding race and opportunity in the United States.

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Housing Wire

JUNE 15, 2021

Women in brokerage aren’t common, but Rocket Pro TPO aims to change that. By integrating programs that enhance inclusivity, the company encourages female leadership. HousingWire recently spoke with Keri Stichler, Divisional Vice President at Rocket Pro TPO, about why female leadership is crucial in the mortgage industry and how companies can advocate for inclusivity.

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Mortgage Brokerage Design Business 466

Appraisal Buzz

JUNE 14, 2021

Mortgage firms partner on furthering their commitment to delivering tech solutions to increase further adoption of eClosing in the industry. The post ICE Mortgage to Deploy DocMagic’s eVault Solution appeared first on theMReport.com. The post ICE Mortgage to Deploy DocMagic’s eVault Solution appeared first on Appraisal Buzz.

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Mortgage Appraisal 370

GoForrmz

JUNE 16, 2021

We have just released an exciting new update to our Template Editor, making it easier than ever to configure your Template’s List View What is List View ? Two viewing modes can be used to fill out your digital forms: Form View and List View. List View is a small-screen optimized viewing mode that can be easily configured in the GoFormz Template Editor.

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Appraiserblogs

JUNE 15, 2021

…the other side of things, the appraiser profession side since no other news media and organizations are willing to do so… Note: The following blog article is not to defend anyone or to place blame. It is simply a blog looking at this issue from the other side of things, the side that hasn’t been discussed in the media. A couple weeks ago, I was privileged to speak on The National Real Estate Post about appraisal issues.

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Appraisal Real Estate Valuation Technology 133

Housing Wire

JUNE 14, 2021

This is Part I of a deep dive into the home appraisal industry, which has faced a growing number of claims of racial bias. Today we explore the origins of the appraisal industry and its current lack of diversity. In Part II, we will examine what hard evidence of bias exists, and the assumptions behind home appraising. Pat Turner’s mother was a child welfare worker in Suffolk, Virginia, during the Jim Crow era, who helped children of all races.

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Appraisal Real Estate Legal Valuation 458

Appraisal Buzz

JUNE 14, 2021

titlegenius is the latest in a series of digital products the company is engineering to help solve existing and anticipated customer and agent challenges, Radian reports. The post Radian Announces Launch of ‘Genius’ Product Suite appeared first on DSNews. The post Radian Announces Launch of ‘Genius’ Product Suite appeared first on Appraisal Buzz.

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Agents Appraisal 370

DW Slater Company

JUNE 18, 2021

“Sunflowers end up facing the sun, but they go through a lot of dirt to find their way there.” ? J.R. Rim. The official first day of summer is just a few days away, June 20,2021 (summer solstice) but it’s already here as we are already experiencing heat indexes above 100 degrees. We Texans are also panicking because ERCOT is already asking us to conserve our power usage this early in the season.

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Inventory Construction Marketing Housing Market 120

Urban

JUNE 17, 2021

Asian households face discrimination that hinders their ability to become homeowners and build generational wealth.

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Housing Market Marketing 146

Housing Wire

JUNE 17, 2021

Phoenix, Austin, Sacramento, Las Vegas and Miami reported the biggest increase in home prices in May, according to a recent report from Redfin. Home prices in Austin were up 42.4% year over year in May to $470,000, the biggest increase of the 88 largest U.S. metros. Phoenix, with a 33.3% gain to $400,000, had the second-biggest annual price increase in the U.S., and Sacramento had the fifth-biggest increase.

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Housing Market Real Estate Marketing Realtors 450

Appraisal Buzz

JUNE 14, 2021

Black Knight Inc. new Originations Market Monitor report, which looks at origination data through May 2021, shows that overall rate locks were down 4.7% from April, with a more pronounced 8.2% decline in rate/term refinance locks. The refinance share of the market mix dropped again in May, accounting for just 44% of the month’s origination activity.

Lending 369

Lending Appraisal Marketing 369

Eyes on Housing

JUNE 16, 2021

After three straight weeks of declines, mortgage activity in the latest week rebounded, as shown in the Mortgage Bankers Association’s latest Weekly Application Surveys, increasing over 4 percent last week. Both purchase and refinance applications were up, including a 5.5 percent gain in refinances. The jump in refinances was the result of the 30-year fixed rate falling for the third.

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Mortgage 104

Urban

JUNE 18, 2021

To increase homeownership among Black households, leaders must unify around a shared goal that can provide guidance for defining and measuring progress.

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Housing Wire

JUNE 17, 2021

The average 30-year fixed-rate mortgage fell three basis points from the week prior to 2.93%, according to data released Thursday by Freddie Mac ‘s PMMS. This marks the first time in over two months mortgage rates have fluctuated outside a five basis point range above or below 3%. “Mortgage rates continued to drift down as markets concur with the view that inflation increases are temporary,” said Sam Khater, Freddie Mac’s Chief Economist.

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Mortgage Housing Market Contracts Construction 450

Appraisal Buzz

JUNE 14, 2021

Despite still being up 29% year-over-year from 2020, pending home sales are tailing off as a new report examines this downturn. The post Pending Home Sales Losing Momentum appeared first on DSNews. The post Pending Home Sales Losing Momentum appeared first on Appraisal Buzz.

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Appraisal 362

McKissock

JUNE 15, 2021

In the last few years, green and high-performance properties have captured a large share of the new home market in the U.S.—and this trend is only expected to grow. As an appraiser, you know it takes a certain level of specialized knowledge and skill to value these types of complex properties. Do you work in an area where it makes sense to specialize in green home appraisals ?

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