Appraisal Buzz
OCTOBER 3, 2022
What should appraisers know before they sign the appraisal report and deliver their professional opinion of value? Pretty much everything. Many appraisers working in today’s marketplaces are about to find out how important this is. I started thinking about this when I saw the news coming from the National Association of Realtors about how far the current real estate market is out of balance.
Housing Wire
OCTOBER 7, 2022
On Friday the Bureau of Labor Statistics reported 263,000 new jobs were added in September. While that growth seems like good news in this economy, it runs directly counter to what the Federal Reserve wants to see. And the even worse news for the Fed was that the unemployment rate fell back to 3.5%. That low unemployment rate has to be driving the Fed nuts.
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George Dell
OCTOBER 5, 2022
Three-Hundred plus One! Cyndi Law is our editor-in-chief, webmistress, and main force for Valuemetrics. She informed me, from the results of our internet provider’s SEO rules, that last week was our three-hundredth post! And the topic, appropriately, was how outdated ‘established’ appraiser education blocks better valuations, better economic health, and enlightened public policy.
Sacramento Appraisal Blog
OCTOBER 5, 2022
Nobody is buying today. Everyone has left the market. Or wait, I mean, it’s only buyers at the very highest prices who have backed off. No, maybe it’s first-time buyers who are getting crushed. There are lots of ideas floating around, so let’s take a look at some stats. I hope this is helpful, whether […]. The post Who is buying in today’s housing market?
Appraisal Buzz
OCTOBER 5, 2022
Today’s Buzzcast interview is with Jared Motzenbecker, Director of Wealth Services of Gulfside Wealth. We sat down with Jared and Joan Trice, Founder of Allterra Group, LLC, to discuss financial planning and the path to retirement. How late is too late to plan for retirement? What can appraisers do now in their 40’s and 50’s to successfully financially plan for retirement?
Housing Wire
OCTOBER 3, 2022
Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. Median home prices in August fell 0.98% in August, only slightly better than July’s 1.05% monthly decline. The average home price is down 2% ($8,800) from its June peak nationally as we enter the historically slower fall-winter homebuying season.
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Eyes on Housing
OCTOBER 7, 2022
Job growth slowed in September as the Fed raises interest rates aggressively to fight inflation, but the overall labor market remains tight. The unemployment rate edged down to 3.5% as the number of persons in the labor force decreased by 57,000 in September. Total nonfarm payroll employment increased by 263,000 in September, following a gain of 315,000 in August, as.
Appraisal Buzz
OCTOBER 7, 2022
With many Americans citing high home prices and mortgage rate conditions as primary reasons for being unable to afford a home, an estimated 75% of consumers in Fannie Mae’s latest Home Purchase Index believe now is a bad time to buy a home, causing many to pull back from their home searches. The post Growing Affordability Constraints Persist for Buyers appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 4, 2022
Even as home prices continued to post strong year-over-year growth in August, rising 13.5% for the 127th consecutive month of annual gains, CoreLogic is predicting much smaller yearly home price growth moving forward. August’s double-digit yearly increase is the lowest year-over-year appreciation since April 2021 and it marks the fourth straight month of slowing price growth , according to the data and analytics firm’s Home Price Insights report published on Tuesday.
Appraiserblogs
OCTOBER 4, 2022
Something that has ‘stuck in my craw’ or ‘frosted my cookies’ for years is the nonsense about stating a specific “PREDOMINANT” price for neighborhood homes. And then being forced to explain why the Opinion of Value is not precisely that number, and if not, why not. Real estate is IMPERFECT. Properties, especially comparables, seldom, if ever, sell for the very same or extremely similar prices.
Eyes on Housing
OCTOBER 4, 2022
The count of open, unfilled jobs for the overall economy fell 10% in August, declining from almost 11.2 million to 10.05 million. The decline for open jobs reflects the beginnings of a labor market retreat as the economy slows due to aggressive tightening of monetary policy by the Fed.
Appraisal Buzz
OCTOBER 7, 2022
The Office of the Inspector General of the Federal Housing Finance Agency has published a 10-page memo as required by law identifying seven major challenges the Agency will address next year for it and its subsidiaries such as the Fannie Mae, Freddie Mac, and the FHLBanks. The post FHFA Inspector General Publishes List of Challenges for 2023 appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 4, 2022
Closing fee-related compliance tool provider LodeStar is integrating with title insurance provider Stewart , the companies said Monday. The Philadelphia-based firm said that the integration will allow all users of LodeStar’s closing fee calculator to access the title and settlement fees of any Stewart -related company, including those of independent title agencies issuing Stewart policies.
Appraiserblogs
OCTOBER 5, 2022
It still proves my point: Appraisal Management Companies take a sizable Cut of the appraisal fee… It was March 28th, 2018 that I wrote my very first blog post entitled “What’s not in your wallet?” where I went into great detail about how Appraisal Management Companies or AMCs get paid and how the consumer is not aware of the fact that the AMC is taking much of the fee while finding the cheapest and fastest appraiser.
Eyes on Housing
OCTOBER 6, 2022
Real gross domestic product (GDP) decreased in 40 states and the District of Columbia in the second quarter of 2022 while ten states saw modest GDP growth. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP ranged from 1.8 percent increase in Texas to 4.8 percent decline in Wyoming. Nationwide, growth in real GDP, measured.
Appraisal Buzz
OCTOBER 7, 2022
CoreLogic’s latest examination of total flood and wind losses increases in the aftermath of Hurricane Ian, as uninsured residential flood loss alone is estimated in the $10-$17 billion territory. The post New Hurricane Ian Damage Estimates Rise to $41B-$70B Range appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 4, 2022
Even with a sharp rise in interest rates toward the end of the second quarter, the title insurance industry still recorded a relatively strong fiscal quarter, according to the American Land Title Association’s Market Share Analysis. During Q2 2022, ALTA recorded $6.21 billion in title insurance premium volume, only slightly down from the $6.54 billion recorded a year ago.
Kairos Appraisal Services
OCTOBER 1, 2022
If you’re a mortgage loan officer and not taking advantage of pre-appraisal tools, your clients could be paying the price with higher fees and longer turnaround times. Read on to learn why pre-appraisal tools are the perfect solution for providing a better borrower experience and, for loan officers, how these tools can expedite the process… The post How Pre-Appraisal Tools Improve the Home Appraisal Process appeared first on Kairos.
Eyes on Housing
OCTOBER 1, 2022
The business of the typical NAHB (National Association of Home Builders) builder grew significantly between 2020 and 2021, according to results from NAHB’s latest member census. The 2021 NAHB census shows that the median gross revenue of an NAHB builder in 2021 was $3.3 million, up 26.9 percent from the previous year. NAHB reinstated its member census during the industry-wide.
Appraisal Buzz
OCTOBER 7, 2022
A new analysis by Redfin has found that 62% of those planning to buy or sell a home are reluctant to relocate to a place at risk of natural disasters. The post Concern Over Climate Risk Factoring Heavily Into Relocation Plans appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 4, 2022
As more of the mortgage process becomes digital, RON has been proving to be a powerful part of the tech transformation for industry professionals. HousingWire recently spoke with Brian Webster, President of NotaryCam, about how RON can provide a competitive advantage for lenders both in terms of being a digital capstone for customers and a means for attracting and retaining top talent in the current market. .
McKissock
OCTOBER 4, 2022
If you are considering a career in the appraisal field , you may be curious about how long it takes to get licensed and start earning an income as a real estate appraiser. The exact answer will vary due to a number of factors, including what state you live in. Here is some information to help answer the frequently asked question, “How long does it take to become an appraiser?
Empire Appraisal Group
OCTOBER 6, 2022
Fla.: A Top 10 State for ‘Stable’ Housing. Source: Fla.: A Top 10 State for ‘Stable’ Housing | Florida Realtors. Realtor.com’s high-level view of housing markets – foreclosures, underwater mortgages, rising prices, etc. – finds Fla. ranking third in overall stability. CHICAGO – U.S. home prices continue to hover at historic highs with bidding wars in some areas, even as the inventory of listed homes starts to increase and housing markets across the country begin to show signs of stabilization.
Appraisal Buzz
OCTOBER 6, 2022
New offering will help identify properties impacted by natural disasters, while mitigating portfolio risk from future climate-related events. The post Black Knight Launches Suite of Climate Risk Solutions appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 4, 2022
Each year, the HousingWire Vanguards represent an elite group of industry executives who are moving the housing market forward. But these industry veterans didn’t fall into these roles overnight. The vast majority of them have carved unique paths for themselves, picking up invaluable knowledge along the way to help them better strategize and lead their organizations.
Riverfront Appraisals
OCTOBER 4, 2022
Do the following terms make you nervous? Bidding war. Appraisal Contingency Escalation clause. Appraisal gap. Multiple offers. Real estate is cyclical, so if you stay in it long enough, sooner or later, you’ll be selling homes in a hot market. A seller’s market. These markets usually pop up when rates are low, money is […]. The post The Realtor’s Guide to Appraisals Part 10: How Does an Appraiser Handle Multiple Offers?
McKissock
OCTOBER 1, 2022
B arndominium properties are typically found in more rural areas. They could be existing barns that were converted into homes or brand-n ew m etal pole buildings that are finished to create a residence. During the appraisal and appraisal report review processes, barndominiums require special consideration, given that they are typically unique to a subject neighborhood.
Appraisal Buzz
OCTOBER 6, 2022
According to Epiq Bankruptcy’s latest market analysis, the total number of filings increased an overall 7% in September, while commercial Chapter 11 filings increased nearly 80% over the last year. The post YoY Bankruptcy Filings Increase for Second Straight Month appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 4, 2022
The shift from a refinance boom to a purchase market will leave some mortgage lenders and loan officers with only two options: “Consolidate or exit the business,” according to Mary Ann McGarry, Guild Mortgage’s chief executive officer. Meanwhile, McGarry said Guild is well positioned to acquire these assets but will be very patient in closing a deal. “Think of 2020 and 2021.
Valcre
OCTOBER 5, 2022
Several factors affect the valuation of a commercial real estate property: This includes location, size, and supply and demand. It’s the responsibility of a business and property owner to consider these factors when buying or selling a property. Carrying out a commercial real estate appraisal is an excellent way to determine the value of a commercial property.
McKissock
OCTOBER 7, 2022
As part of our contributor series, Jacob Coleman of RealEstateCareerHQ.com shares his thoughts on how to find a supervisory appraiser. I have joined numerous online appraiser groups and forums in the past few years, and one of the common issues I heard a lot is that appraiser trainees cannot find a supervisor. According to the Appraiser Qualifications Board (AQB), trainees need to obtain a certain number of appraisal experience hours before becoming a licensed or certified appraiser.
Appraisal Buzz
OCTOBER 5, 2022
Today’s Buzzcast interview is with Jared Motzenbecker, Director of Wealth Services of Gulfside Wealth. We sat down with Jared and Joan Trice, Founder of Allterra Group, LLC, to discuss financial planning and the path to retirement. How late is too late to plan for retirement? What can appraisers do now in their 40’s and 50’s to successfully financially plan for retirement?
Housing Wire
OCTOBER 7, 2022
Switzerland-based global lender Credit Suisse Group AG had a rough start this week after its stock was beaten down by 11%, the value of its riskiest debt fell more than 10% and the cost of purchasing derivatives insuring against the bank defaulting rose sharply. The bank’s stock eventually recovered most of the losses by the end of the day Monday, Oct. 3.
The Appraiser Coach
OCTOBER 4, 2022
As an entrepreneur in your business, you are wired to seek and get excited about opportunities. New people, new options, a new environment, or a new place all present a. Read More.
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