Sat.Dec 18, 2021 - Fri.Dec 24, 2021

Logan Mohtashami: The 2022 housing forecast

Housing Wire

Most of the time, the economy is like a slow-moving ocean liner that changes direction gradually and without much effort. But when a new, powerful variable presents itself, like the worldwide COVID-19 pandemic, the economy can change on a dime.

The Coronavirus Home Valuation Test

Appraisal Buzz

Federal regulators require banks to prepare documentation that fully explores their response to potential market forces that could put stress on their institutions or the broader economic system.

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Is Appraisal Obsolete? Part 4: Education

George Dell

If education regurgitates only prior ‘established, time-tested’ methods, nothing happens. This is the fourth in our series on how progress in appraisal is stymied by the five frictions: process, standards, education, client expectation, and regulation.

To Clone or Not to Clone?

The Appraiser Coach

Cloning or templates? What is the best for you? How do you start your appraisal reports? Various other software programs have different ways but, in general, we’re going to talk. Read More.

Freddie Mac misses low-income refinance goal

Housing Wire

Fannie Mae met all of the housing goals the Federal Housing Finance Agency imposed for 2020, but Freddie Mac failed its low-income refinance goal. The government-sponsored enterprise lagged the wider market in its acquisitions of low-income refinances.

Assignments for 4 Types of Commercial Appraisal Review Clients

Appraisal Buzz

Commercial appraisal review assignments flow from different types of clients, each with their own intended use, required scope of work, and set of concerns for the reviewer to be aware.

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New Home Sales Jump in November on High Consumer Demand

Eyes on Housing

New single-family home sales rose in November as housing demand was supported by low interest rates and strong consumer demand, despite the ongoing building materials challenges impacting the housing industry. The U.S. Department of Housing and Urban Development and the U.S.

Mortgage rates fall to 3.05% amid Omicron fears

Housing Wire

The average 30-year-fixed rate mortgage dropped to 3.05% during the week ending Dec. 23, after achieving 3.12% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.66%.

Mortgage Delinquencies Improve While Active Foreclosures Fall

Appraisal Buzz

In its report on the November 2021 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market, Black Knight Inc. has found that the total U.S.

December Newsletter- Merry Christmas!

DW Slater Company

It is hard to believe that we are wrapping up 2021. Christmas is just a few days away and we will soon welcome the new year. We want to wish you all the best this holiday season! Make sure to check out our family recipe at the end of this newsletter, our gift to you!

15 Things To Know BEFORE Moving to Raleigh NC {2022 Guide}

Raleigh Realty

Existing home sales data continues to outperform

Housing Wire

The National Association of Realtors reported that existing home sales for November came in hot at 6.46 million. This number is above my sales trend peak of 6.2 million, which means we have now had three straight months of sales of over 6.2 million.

Mortgage Rates Reverse Course and Trend Downward

Appraisal Buzz

After a few weeks of increases, mortgage rates took a slight dive this week, falling to 3.05% as refis again picked up despite a downtick in overall mortgage app volume. The post Mortgage Rates Reverse Course and Trend Downward appeared first on theMReport.com.

Existing Home Sales Rise in November Despite Low Inventory

Eyes on Housing

Fueled by low mortgage interest rates and strong demand, existing home sales increased for a third straight month in November, according to the National Association of Realtors (NAR).

A New ‘Standard’ for ROV Requests

Appraiserblogs

Since beginning using this Standard, I have had ZERO ROV requests. Appraisers, the latest ‘buzzword’ around appraising is Standard.

Treasury cracks the whip on money laundering

Housing Wire

The U.S. government is laser-focused on uncloaking bad actors hiding behind shell companies to engage in money laundering and other illicit activities and is seeking to adopt new regulations to accomplish that goal — rules that will impact the housing industry.

Americans Looking to Relocate Target the Sunshine State

Appraisal Buzz

Redfin agents report millennials looking to relocate tend to be young remote workers who are moving to Miami for affordability and sunshine. The post Americans Looking to Relocate Target the Sunshine State appeared first on DSNews.

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Mortgage Purchasing Activity Strengthens

Eyes on Housing

The latest Mortgage Bankers Association’s (MBA) weekly application surveys shows a decline for refinancing and an increase for mortgage purchase loans. The 30-year fixed-rate mortgage rate increased, averaging close to 3.3 percent for the month and was 3.27 percent for the week ending December 17.

Builders Say the Labor Shortage Hit a Record High

Empire Appraisal Group

Builders Say the Labor Shortage Hit a Record High. NAHB survey: Almost 9 out of 10 builders can’t find enough framers and carpenters, with more than 55% of single-family builders reporting a shortage in 16 trades.

Anxiety grips LOs as layoffs sweep the industry

Housing Wire

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” ” They have good reason to feel anxious.

Miami Tops U.S. Cities for Homebuyer Destinations

Appraisal Buzz

Interest in moving to a new metro area remains elevated above pre-pandemic levels, with roughly 30% of Redfin.com users looking to relocate due to remote work situations. The post Miami Tops U.S. Cities for Homebuyer Destinations appeared first on theMReport.com. The post Miami Tops U.S.

Apartment Absorption Surged while Condominium Absorption Remained Steady

Eyes on Housing

Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the second quarter of 2021 due to strong demand and low vacancy rates.

Storm Spotting: A Guide for Homeowners

Raleigh Realty

What is Storm Spotting? An estimated total of 16 million thunderstorms occur each year. While most storms are harmless, there are certain severe storm types that are known to inflict damage to buildings and can endanger the lives of individuals.

How pricing data will give mortgage professionals an upper hand in 2022

Housing Wire

Having access to fast, accurate, and current rate data is critical in today’s ever-evolving mortgage landscape—and not just for the LOs who quote these loans. With the right pricing data, mortgage lenders can expect to improve their operations from the ground up.

As Foreclosures Decline, Mortgage Delinquencies Remain Steady

Appraisal Buzz

Prepayment activity fell by 8.9% in November to hit its lowest level in 22 months, as rising 30-year rates put downward pressure on refinance volumes. The post As Foreclosures Decline, Mortgage Delinquencies Remain Steady appeared first on DSNews.

Property Tax Revenues Decline, Share of Total Increases in Q3 2021

Eyes on Housing

NAHB analysis of the Census Bureau’s quarterly tax data shows that $707.6 billion in taxes were paid by property owners in the four quarters ending Q3 2021 (not seasonally adjusted), a 0.5% quarterly decline.[1] 1] Four-quarter property tax revenues had climbed 14.3% since decreasing 0.2%

AVMs assist in eliminating racial bias from appraisals

Valuation Review

HouseCanary, Inc., known for its real estate valuation technology, recently released a white paper with the results of a study entitled “Reducing Racial Bias in Home Appraisals Using Automated Valuation Technology.”

New home sales report is deja vu all over again

Housing Wire

Today the Census Bureau ‘ s new home sales report came in as a missed estimate at 744,000. In addition, revisions were all negative, and the monthly supply of new homes rose. This is in contrast to the existing home sales market, which I would say is outperforming.

Guaranteed Rate Names New Divisional Managers

Appraisal Buzz

Two new Divisional Managers are added to oversee operations in Guaranteed Rate’s markets in the West. The post Guaranteed Rate Names New Divisional Managers appeared first on theMReport.com. The post Guaranteed Rate Names New Divisional Managers appeared first on Appraisal Buzz. Around The We

Home Building Shows Ongoing Growth in Second Home Counties

Eyes on Housing

Per the latest results of NAHB’s Home Building Geography Index, in the third quarter of 2021, both single-family and multifamily home building showed gains in second home counties. This marked a reversal for multifamily after weakness last year.

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Appraisers make their lists, checking it twice

Valuation Review

Once again, the holiday tradition finds Valuation Review asking appraisers what their ideal gift from Santa Claus is this year. We certainly found a variety of items both underneath the tree and inside the stocking. Read on to find out what appraisers are hoping to unwrap this year

Homeowners gain $9.1 trillion in housing value in 2021

Housing Wire

homeowners gained a whopping $9.1 trillion of housing value over the last year, according to a report published by Redfin this week. The report noted that home-price growth and a severe shortage of inventory worked in tandem to push housing values to record highs in 2021.

Freddie Mac Reports Mortgage Rates Drop at Yearend

Appraisal Buzz

Freddie Mac ’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 3.05%. The market volatility resulting from the COVID-19 Omicron variant is causing mortgage rates to decrease,” observes Sam Khater, Freddie Mac’s Chief Economist. “As

Employment Situation in November: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 43 states in November compared to the previous month while seven states and the District of Columbia lost jobs.