Housing Wire
MAY 14, 2021
In the last few years, there’s been a lot of conversation surrounding 25 to 40-year-olds and their home purchasing habits. But according to a new LendingTree study , millennials aren’t the only ones making big purchases – Generation X is doing the same. Generation Xers are taking advantage of the housing boom. Generation Xers were born between 1965-1980 and range between 41 to 56-years-old.
Appraisal Buzz
MAY 12, 2021
Mortgage lender Quicken Loans says it will officially change its name to Rocket Mortgage on July 31. The company says the change “will bring alignment to the overall ‘Rocket’ brand.”. “More than 20 years ago, Dan Gilbert, our founder and chairman, had a vision of putting the entire mortgage process online to simplify the lending experience and add more transparency.
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The Appraiser Coach
MAY 11, 2021
I recently had a question come in from a follower regarding how to best make time adjustments in this crazy world of multiple offers and offers over list. It was. Read More.
Sacramento Appraisal Blog
MAY 12, 2021
Prices growth has been insane lately and that’s pretty much how the rental market feels too. Let’s talk about this and a few other things. Enjoy. Three Things: 1) THE ASTERISK IN THE ROOM: Home price stats are truly crazy right now across the country. It’s mind-blowing to see prices up 15-20% from one year […].
Housing Wire
MAY 10, 2021
The key to the U.S. getting back on track economically is for its citizens to freely walk the earth again without the existential threat of COVID-19. The U.S. is getting closer and closer to meeting that goal, while other countries are still trying to control the virus. Before the successful vaccination program, I targeted Aug. 31, 2021, as the launching point for when we can fully achieve this, with the mindset that all jobs lost to COVID would be back online by September 2022 or earlier.
Appraisal Buzz
MAY 11, 2021
Although the overall mortgage delinquency rate remains up from a year ago, due to the economic impact of the pandemic, it continues to improve on a month-over-month basis and is expected to improve throughout the remainder of this year, two recent reports show. According to CoreLogic’s Loan Performance Insights Report, the overall mortgage delinquency rate (30 days or more past due, including those in foreclosure) increased 2.1 percentage points year-over-year in February to reach.
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Eyes on Housing
MAY 13, 2021
Prices paid for goods used in residential construction ex-energy rose 1.7% in April (not seasonally adjusted) and have increased 12.4% 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.
Housing Wire
MAY 13, 2021
The average 30-year fixed rate mortgage managed another dip last week, falling two basis points to 2.94%, according to Freddie Mac ‘s PMMS. Since the most recent peak in April, mortgage rates have declined nearly a quarter of a percent and have remained under 3% for the past month. Despites last week’s rates mirroring closer to what was seen in February, Sam Khater, Freddie Mac’s chief economist isn’t convinced they will last. “The low mortgage rate environment has been a
Appraisal Buzz
MAY 11, 2021
With supply remaining tight, homebuyers scrambled in Q1 to buy up the remaining inventory, driving home prices to year-over-year highs in 99% of the nation’s metro markets. The post Strong Demand Drives Q1 Prices Upward YoY appeared first on theMReport.com. The post Strong Demand Drives Q1 Prices Upward YoY appeared first on Appraisal Buzz.
DW Slater Company
MAY 11, 2021
Photo by BBH Singapore on Unsplash. No this hasn’t suddenly become a fashion blog. This is really for my fellow female appraisers. My apologies guys, some of this might apply to you, but I am really speaking to the gals. I am a part of several appraiser groups and one of my favorite Facebook groups is the I am a Female Real Estate Appraiser Groups.
Eyes on Housing
MAY 11, 2021
NAHB’s latest survey on consumer preferences – What Home Buyers Really Want – asked recent and prospective buyers about the desirability of an exercise room in the home. Results show that 47% of buyers rate an exercise room essential or desirable. The arrival of the COVID-19 pandemic in the spring of 2020 likely accelerated the long-term, rising popularity of exercise.
Housing Wire
MAY 13, 2021
Robin Sheridan, a real-estate broker with Compass Washington, recently listed a three-bedroom home in Seattle for $795,000. The 76-year-old brick home had what Sheridan considered a “funky layout,” with two rooms added to the back that didn’t quite integrate into the flow of the home. Still, they functioned well as office spaces. Sheridan received 29 offers on the property, which went pending within five days – and sold for $1.013 million, or 27.4% over the list price.
Appraisal Buzz
MAY 10, 2021
Appraisers are paid for their opinion. Their opinions are one of the most important parts of the mortgage industry. Yet, we see a lot of you like to give your opinions away for free! Because of that, we’ve modified the Appraisal Buzz website to give appraisers a playground for open discussion. If you haven’t had a chance yet to check it out, take some time to hit us with your opinions in the Appraisal Buzz forum.
Midtown Appraisal Group
MAY 9, 2021
(Outside of a sale or purchase) Anyone who’s ever bought a piece of property – especially a residential home – involving a mortgage is probably familiar with the appraisal requirement: Very few banks or mortgage financing companies will lend money for home purchase without ensuring that a professional appraisal has been done. They need to […].
Eyes on Housing
MAY 10, 2021
An earlier post revealed that 64% of buyers who were actively engaged in the process of finding a home in the first quarter of 2021 have spent upwards of 3 months searching for a home without success. For the second time in this series history, the most common reason long-time searchers haven’t pulled the trigger is not because they can’t.
Housing Wire
MAY 11, 2021
Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which uses 100 as a benchmark — increased to 128.1 last month. A decline in the MCAI suggests that lending standards are tightening while a higher number suggests loosening credit standards.
Appraisal Buzz
MAY 10, 2021
While about 2.2 million homeowners are in forbearance plans, inflow numbers are slow, and the decline in overall forbearance activity has quickened. The post Report Reflects Steady, Low Level of Forbearance Requests appeared first on DSNews. The post Report Reflects Steady, Low Level of Forbearance Requests appeared first on Appraisal Buzz.
GoForrmz
MAY 11, 2021
Transform your PDFs into fillable forms that can be used on your phone, tablet, or computer - no code or IT support required Many teams still grapple with the frustrations of PDF data entry, resulting in frequent data entry errors, cumbersome form delivery, and siloed data. Although PDFs are digital, they cannot be optimized to incorporate logic or automations, and cannot move collected data into connected databases, systems of record, or reporting applications, isolating data.
Eyes on Housing
MAY 11, 2021
Job openings in construction increased in March to 344,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). The housing market remains hot and requires additional labor, lots and lumber and building materials to add inventory. Overall, hiring in the construction sector increased in March, rising to a 6% rate.
Housing Wire
MAY 14, 2021
Are you thinking about buying your first home? Because of today’s low interest rates , some homebuyers may be able to afford the homes of their dream. But low interest rates aren’t the only thing you should consider when house shopping. Due to high demand, the housing supply is slim. But that doesn’t mean you should settle for a house you don’t love.
Appraisal Buzz
MAY 13, 2021
For the fourth straight week, mortgage rates have slid into a range where more are looking to save monthly via refinance. The post Refis Reign as Rates Trend Downward appeared first on theMReport.com. The post Refis Reign as Rates Trend Downward appeared first on Appraisal Buzz.
Chicagoland Appraisal Blog
MAY 13, 2021
Your home may be your favorite place to be, but it’s also an investment. Like any other investment, you want to know its value with some reliable degree of accuracy. A home appraisal is an unbiased opinion of a home or property’s value. Real estate professionals or other appraisal experts can help you determine the market value of your home. This is helpful whether you intend to stay in your home or wish to sell it.
Eyes on Housing
MAY 12, 2021
Both headline inflation and core inflation jumped in April, reflecting strong consumer demand for products and services as the economy reopens from the COVID-19 recession. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.8% in April on a seasonally adjusted basis, after an increase of 0.6% in March. It marks the largest increase.
Housing Wire
MAY 13, 2021
Mortgage applications for new homes dropped 9% in April from March, however, overall applications are still up a whopping 30.8% year over year for homebuilders, according to the latest survey report from the Mortgage Bankers Association. Amid continued competition from borrowers, the average loan size of a new home reached its highest level in the survey’s history at $377,434.
Appraisal Buzz
MAY 14, 2021
Weaker Retail Sales Casts Vote For Range-Holding Wednesday’s CPI data was akin to some passionate political orator making a case for the country to go to war against low rates. Yesterday’s 30yr bond auction stepped in with a “not so fast” counterpoint, and now today’s Retail Sales data gives us hope that cooler heads will prevail.
CM Appraisals
MAY 13, 2021
Isabella Caprario Even if you take good care of your home’s inside, having beautiful curb appeal is just as important. The term curb appeal refers to how your home, lawn , and garden appear and how this area looks in terms of visual appeal, cleanliness , and upkeep. When you have great curb appeal, your home is much more enticing to potential buyers.
Eyes on Housing
MAY 14, 2021
Over the three months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 276,110. On a year-over-year (YoY) basis, this is a 25.3% increase over the March 2020 level of 220,416. Year-to-date ending in March, single-family permits reported increases in all four regions. The relatively more affordable Midwest reported the strongest increase of 40.0%, followed by.
Housing Wire
MAY 14, 2021
The number of properties with foreclosure filings hit 11,810 in April, down 1% month over month and 17% year over year, according to a recent study from RealtyTrac and ATTOM Data Solutions. May marks the 14th month of the federal government’s foreclosure and eviction moratorium. States with the highest April foreclosure rates were Delaware (one in every 5,700 housing units with a foreclosure filing), Nevada (one in every 5,738), Illinois (one in every 5,890), Florida (one in every 6,375), and Ne
Appraisal Buzz
MAY 11, 2021
Why mentorship is still relevant in the modern mortgage workplace. The post Dispelling Mentorship Myths appeared first on DSNews. The post Dispelling Mentorship Myths appeared first on Appraisal Buzz.
Empire Appraisal Group
MAY 13, 2021
‘This Isn’t a Bubble’. source: ‘This Isn’t a Bubble’ | Realtor Magazine. The U.S. housing market is on a hot streak with double-digit annual gains in home prices, bidding wars, and surging buyer demand. That type of soaring housing market is prompting more “bubble” fears in some corners, but economists say the housing market isn’t getting overinflated.
Eyes on Housing
MAY 10, 2021
In the first quarter of 2021, consumer credit increased at a seasonally adjusted annual rate by 5.1%, with revolving debt1 increasing by 2.4% and nonrevolving debt2 increasing by 5.9%. Consumer credit totaled $4.2 trillion on a seasonally adjusted annual basis, with $980 billion comprised of revolving debt and $3.3 trillion in nonrevolving debt. This outstanding level marks a total increase of $54 billion.
Housing Wire
MAY 11, 2021
The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study. Redfin Chief Economist Daryl Fairweather said the numbers are likely exaggerated because demand for second homes dropped 24% year over year in April 2020, the month after the coronavirus pandemic permeated throughout the U.S.
Appraisal Buzz
MAY 10, 2021
The share of mortgages in COVID-19-related forbearance plans continued to fall during the week ended May 2, dropping to 4.36% of servicers’ portfolio volume, down from 4.47% the previous week, according to the Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey. The 11-basis-point-drop was one of the biggest seen so far this spring and can be attributed to a strengthening U.S. economy. “The pace in the declining share of loans in forbearance.
Valuation Review
MAY 12, 2021
CoreLogic Valuations Principal George Paquette and Chief Appraiser Shawn Telford offer more insight into the hot topic of appraisal waivers and lending decisions. “Understanding the condition of the collateral is important in making a sound lending decision,” Telford noted. Read on for more insight.
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