Housing Wire
MAY 21, 2021
According to the National Association of Realtors, existing home sales for April’s housing market came in at 5,8500,000. This was a miss from estimates and the third straight month of declines in sales. I have been saying we should expect home sales to moderate since the end of summer 2020, and that is what we see in this report. This sales trend looks very normal to me.
Appraisal Buzz
MAY 17, 2021
During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Many of the complaints and allegations about appraisals related to not addressing the changes happening in the market as the meltdown began to occur, calling the market stable when prices were starting to decline.
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The Appraiser Coach
MAY 18, 2021
It is no secret that we as appraisers take a lot of photos. I probably take about 20-25 per house that I inspect. Then there are all the comp photos. Read More.
Sacramento Appraisal Blog
MAY 17, 2021
There’s no way it will sell for that much… But then it did. Today I have an interview with a local real estate agent about a property that recently commanded easily about $100,000 more than it looked like it could have on paper. I hope you enjoy this Q&A with Ted DeFazio and my takeaways […].
Housing Wire
MAY 21, 2021
Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin. Pending sales for the seven-day period ending May 16 were down 10% from four weeks prior, compared to an 8% increase during the same period in 2019.
Appraisal Buzz
MAY 21, 2021
Industry professionals will converge on the Lone Star State as the Five Star Institute welcomes the mortgage community back for an in-person conference this fall. The post Five Star Conference Returns to Dallas in September appeared first on theMReport.com. The post Five Star Conference Returns to Dallas in September appeared first on Appraisal Buzz.
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Eyes on Housing
MAY 21, 2021
After reaching a record high in October, existing home sales, as reported by the National Association of Realtors (NAR), dropped to a ten-month low in April, as tight inventory continues to limit sales and fuel home price growth. The median existing home price in April surged to an all-time high and was the largest annual pace on record. Total existing.
Housing Wire
MAY 17, 2021
With the economic expansion well underway, one big question remains: When will mortgage rates move toward 4% and higher? Mortgage rates increased toward 3.25% in mid-February from the recent all-time lows of 2.625% at the start of the year, but then retracted to around 3.0% currently. The bond market in 2021 has been above 1.60% for a brief time, with a recent high of about 1.75%.
Appraisal Buzz
MAY 20, 2021
A recent Legal League 100 Spring Servicer Summit examined the journey servicers and regulators will be embarking on when the foreclosure moratoria is lifted. . The post Servicers and Regulators Map Out Post-Moratoria Framework appeared first on DSNews. The post Servicers and Regulators Map Out Post-Moratoria Framework appeared first on Appraisal Buzz.
Midtown Appraisal Group
MAY 20, 2021
You don’t have to be an expert, but you should know the basics. I know what it’s like: Whether you’re buying or selling your home, especially in the current overheated market, the last thing you have time (or interest) for is a deep dive into real estate appraisals. At the same time, as a vendor […].
Eyes on Housing
MAY 20, 2021
Confidence in the market for new multifamily housing increased in the first quarter of 2021, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two major indices: the Multifamily Production Index (MPI) and the Multifamily Occupancy Index (MOI). The MPI increased eight points to 51 in the.
Housing Wire
MAY 20, 2021
April’s 7.08% decline in mortgage delinquencies wasn’t even half of the drop March posted, but it did manage to push the national delinquency rate to below 5% for the first time since the beginning of the pandemic, Black Knight revealed in a new report. Overall, the number of past-due mortgages fell to 4.66% in April while an additional 400,000 homeowners managed to become current on their payments.
Appraisal Buzz
MAY 21, 2021
After hosting a virtual version of the long-running event in 2020, this year Five Star Conference will return for an in-person conference in Dallas in September. The post 2021 Five Star Conference Welcomes Home the Industry appeared first on DSNews. The post 2021 Five Star Conference Welcomes Home the Industry appeared first on Appraisal Buzz.
Urban
MAY 18, 2021
Differences in housing conditions between the US, UK, and France illustrate that improving access to fair, affordable housing requires state and national governments to intervene.
Eyes on Housing
MAY 19, 2021
Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate dipped below the elevated levels shown in April, mirroring a similar decline in Treasury yields. For the week ending May 14, the average 30-year fixed rate mortgage was 3.15%. The MBA’s Market Composite Index, reflective of activity in refinancing and purchase mortgages, changed course compared to.
Housing Wire
MAY 19, 2021
National median home prices reached $370,528 for the month of April, a 22% increase year over year and a new record, according to a recent study from Redfin. The number of homes for sale also sank to a record-low average of only 19 days on the market. And 49% of homes sold for above asking price — a record high. The numbers are a bit exaggerated, per Redfin Chief Economist Daryl Fairweather, due to the COVID-19 pandemic slowing homebuying and selling in April 2020 and skewing the numbers.
Appraisal Buzz
MAY 18, 2021
Stephen Adamo has joined Embrace Home Loans as president, national retail production. Prior to joining Embrace, Adamo served as executive vice president, head of U.S. mortgage banking, home equity, consumer manufacturing and credit underwriting at Santander Bank, NA. In that role, he had direct oversight of all aspects of residential home lending, including production, portfolio administration, secondary marketing, servicing and loan operations.
DW Slater Company
MAY 17, 2021
When appraising, especially in our rural market areas, we drive around and see many things, including unusual names for streets. This sign in Montague county is one of our favorites and speaks to the affinity for being away from the hustle and bustle of the larger metropolitan areas. This past year, the pandemic has really been a disrupter for many facets of our lives but the impact on real estate has been significant.
Urban
MAY 18, 2021
Research that debunks three common myths about infill housing development can help Los Angeles cope with its severe housing shortages.
Housing Wire
MAY 17, 2021
Could it finally be happening? Senators Mark Warner (D-Va.) and Kevin Cramer (R-N.D.) have reintroduced federal legislation that would allow remote online legislation (RON) nationwide. Dubbed the Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act, the bipartisan legislation would permit “immediate nationwide use” of RON by every notary in the United States.
Appraisal Buzz
MAY 18, 2021
Risk management is all about identifying, measuring, monitoring and controlling risk, and fair lending risk is no exception. Here are eight red flags that may indicate fair lending risk. 1. Discretion or exceptions in the underwriting or pricing process. Many financial institutions (FIs) pride themselves on their ability to work with consumers and be flexible with unusual circumstances.
Eyes on Housing
MAY 17, 2021
According to the 2019 American Community Survey (ACS), 22% (2.4 million) of construction workers are self-employed. This is significantly higher than an economy-wide average of 9.7% of the employed labor force. Nevertheless, construction self-employment rates are now lowest on record, down from a record high of over 26% in 2010. One of the factors behind the recently falling construction self-employment.
Urban
MAY 18, 2021
Federal leadership and broader public awareness of the discrimination faced by Asian Americans and Pacific Islanders can help move us closer to the promise of the Fair Housing Act.
Housing Wire
MAY 17, 2021
Historically low mortgage rates had their moment in the sun in 2020. They rested far below 3% for months before America’s economic rebound pushed them back up in the winter of 2021. But data released on Thursday from Freddie Mac showed that mortgage rates idled below 3% again for an entire month, even with solid first-quarter GDP figures and encouraging consumer spending numbers.
Appraisal Buzz
MAY 20, 2021
The national housing boom spurred an uptick in home prices in two-thirds of Congressionally-mandated Opportunity Zones. The post Finding Opportunity in Opportunity Zones appeared first on DSNews. The post Finding Opportunity in Opportunity Zones appeared first on Appraisal Buzz.
Appraiserblogs
MAY 19, 2021
Frank Garay with National Real Estate Post interviewed Mark Skapinetz on Monday May 17, 2021. They discussed racism, entry into the appraisal field, appraisal fees and appraisal waivers. Frank intends on having Mark back to discuss other issues at hand within the appraisal industry. Kudos to NREP for using their platform to allow boots on the ground appraisers explain the current state of affairs with regards to the appraisal industry.
Urban
MAY 18, 2021
Mortgage forbearance has provided immense relief to homeowners during the COVID-19 pandemic. When relief ends, experts will naturally look to the Great Recession for guidance and lessons learned. When they do, it is imperative they realize the differences between the two economic crises.
Housing Wire
MAY 21, 2021
A recent report from ATTOM Data Solutions found that median home prices increased in 75% of the country’s “Opportunity Zones” — economically distressed communities that may qualify for tax deferment — year over year in the first quarter of 2021. In two-thirds of all Opportunity Zones, prices rose at least 10%. The report studied 4,579 Opportunity Zones in the country with at least five home sales in the first quarter of 2021. 43% of those zones had median home prices of less th
Appraisal Buzz
MAY 19, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, applications increased 1.2 percent on a seasonally adjusted basis for the week ending May 14. On an unadjusted basis, the index increased 1 percent compared with the previous week. The Refinance Index increased 4 percent from the previous week and was 2 percent lower than the same week one year ago.
Eyes on Housing
MAY 19, 2021
Counter to expectations, the number of single-family homes built-for-rent (SFBFR) construction starts posted a year-over-year decline for the first quarter of 2021. The SFBFR market is a way to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period when people want more space and a single-family structure.
Urban
MAY 18, 2021
Between 2020 and 2040, homeownership trends will vary widely between states.
Housing Wire
MAY 18, 2021
For as long as Jim Pullin has been a realtor in Seattle, the Pacific Northwest city has always been a popular moving destination. But the past three years — and 2020, specifically — have been something else. “I started as an agent up here in 2009, and I’ve been saying since then the only thing that would slow down the market would be some sort of national or international event,” said Pullin, a managing broker at Skyline Properties. “But a year ago, COVID-19 hit us, and w
Appraisal Buzz
MAY 18, 2021
Taxes appear to be playing an increasing role as Americans decide if and when to relocate, and researchers look at what that means for home prices. The post Many Buyers are Relocating to Low-Tax States appeared first on theMReport.com. The post Many Buyers are Relocating to Low-Tax States appeared first on Appraisal Buzz.
GoForrmz
MAY 19, 2021
Adding new users to your GoFormz account is easy Adding new users to your GoFormz account improves collaboration and communication. With more users in your GoFormz account, your team can automate the completion of common daily tasks, like dispatching forms pre-filled with project data, routing completed forms, gathering timesheets, and more. To add a new user to your GoFormz account simply follow the instructions below (please note that you must have Admin permissions to add a new user): Login t
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