Sat.Oct 23, 2021 - Fri.Oct 29, 2021

Inside Zillow’s misadventures in iBuying

Housing Wire

Zillow CEO Rich Barton. Antonio Pellegrini was stunned. In May the real estate agent listed a two-bedroom home in Fountain Hills, Arizona, 30 miles north of Phoenix, for $342,000.

How Remaining Economic Life Works

Cleveland Appraisal Blog

If you’re reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, “ Remaining Economic Life “ What does this number indicate?


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A New Appraiser Discusses his Journey into the Industry

Appraisal Buzz

“A New Appraiser Discusses his Journey into the Industry” was originally published in May 2021.

Does a Variable Vary? Part I

George Dell

A vary good question! As I have often contended: The problem with statistics is. words. Appraisal has been accused of being a “cottage industry.” Grrrr. How can this be? Here, too, part of the problem is words. We have continued to use, enforce, and teach outmoded ways and words.

Is the housing market cooling down?

Housing Wire

The housing market continues to be hot in most of the country, but there are signs that the party may be coming to an end. To help better understand what the latest data means for the industry, HousingWire Lead Analyst Logan Mohtashami answered questions about what it all means.

Sometimes “No” Is Okay

The Appraiser Coach

Fear might be a good motivator, but it is a poor problem solver. Over the years, I’ve had to learn how to not be afraid of my clients. That is, Read More.

Black Knight: Loan Performance Continued to Improve in September

Appraisal Buzz

The national mortgage delinquency rate fell to 3.91% in September, a decrease of 2.25% compared with August and a decrease of 41.3% compared with September 2020, according to Black Knight’s First Look report.

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Why brokerages and mortgage lenders are rushing into JVs

Housing Wire

The excited and at times nervous first-time homebuyers that James Dunn often represents ask him how that whole process of taking out a mortgage works, and Dunn, a Los Angeles-based real estate agent with eXp , replies with a few trusted names.

Housing Share of GDP Steady During Third Quarter

Eyes on Housing

Thanks to a surge in residential investment during 2020, housing’s share of GDP remains elevated compared to recent years. Last year’s market conditions involved a renewed focus on the importance of home, an evolving geography of housing demand, and a lack of for-sale inventory.

33% of Homes Sell Within the First Week

Appraisal Buzz

In a time of the year when the market typically slows, a new report from Redfin found that 33% of homes sell within a week of hitting the market—a number that has been on the rise for the last six weeks.

2021 Mokena, South Tinley Park & New Lenox Halloween Tour!

Advanced Appraisal

We have not been active in sharing contact as we wish we were, as we have been slammed training appraisers and involved with an overwhelming amount of Estate and Divorce appraisals. But every year the family and I drive

Mortgage rates continue to move north

Housing Wire

The average 30-year-fixed mortgage rate continues to trend upwards, rising by five basis points to 3.14% for the week ending Oct. 28, according to Freddie Mac ’s latest PMMS survey. Rates have risen roughly 20 basis points over the past month, and market observers believe that rise will continue.

Desire for Homeownership Cools

Eyes on Housing

After hitting a low of 10% in the first quarter of 2020, the share of adults planning a home purchase within a year rose for five consecutive quarters, peaking at 17% in the second quarter of 2021. The desire for homeownership cooled off in the third quarter, when the share slid back to 16%.

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Is Homebuyer Demand Keeping the Market Up?

Appraisal Buzz

In a time of the year when the market typically slows, a new report from Redfin found that 33% of homes sell within a week of hitting the market—a number that has been on the rise for the last six weeks.

Desktop Appraisals, Panaceas for Faster Reports


…I’ve discovered a potential anomaly in Desktop reports (and Hybrids also) which might shock some appraisers… Desktop Appraisals, Panaceas for Faster Reports. Or so they say. has a revealing article published on Oct.

New home supply shows this housing market has stabilized

Housing Wire

Today the Census Bureau reported new home sales came in as a beat of estimates at 800,000 and monthly supply of new homes broke under six months.

New Home Sales Post Solid Gain in September

Eyes on Housing

Contracts for new, single-family home sales increased 14% to an 800,000 seasonally adjusted annual rate in September according to estimates from the joint release of the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.

CoreLogic Finalizes Deal to Acquire ClosingCorp

Appraisal Buzz

Bob Jennings will continue to lead ClosingCorp after acquisition, giving CoreLogic customers access to title and closing services. The post CoreLogic Finalizes Deal to Acquire ClosingCorp appeared first on DSNews.

8 Experts: Sky-High Housing Prices Won’t Fall

Empire Appraisal Group

By Swapna Venugopal Ramaswamy. Today’s market isn’t like the boom-bust cycle leading up to the Great Recession: Tough loan standards are the norm, plus many factors have kept housing supply low. MCLEAN, Va.

Opinion: GSE policy changes are positive for small lenders

Housing Wire

We have recently seen a major shift in the focus of Fannie Mae , Freddie Mac and their regulator, FHFA.

Employment Situation in September: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 33 states and the District of Columbia in September compared to the previous month while 16 states lost jobs. Wisconsin recorded no change.

The Week Ahead: The Evolution of Forbearance

Appraisal Buzz

With many 18-month forbearance terms coming to an end, a new report next week will better gauge the rate of true forbearance exits, compared to the volume of re-entries. The post The Week Ahead: The Evolution of Forbearance appeared first on DSNews.

Veros: Home price forecast to remain strong in 2022

Valuation Review

Veros Real Estate Solutions released its Q3 2021 VeroFORECASTSM data which predicts home prices will appreciate on average 7 percent for the next twelve months. The VeroFORECAST evaluates home prices in the nation’s 100 most-populated markets. Read on for more from Veros

How much could wire and title fraud cost lenders?

Housing Wire

With loan production costs on the rise resulting in margin compression, lenders should be on the lookout to reduce costs wherever possible in the origination process.

Conventional Loan Share of New Home Sales Reaches 13-Year High

Eyes on Housing

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed 75.7% of new home sales in the third quarter of 2021—the largest share since the beginning of the Great Recession in 2008. The share increased 1.7

Rent Continues Upward March

Appraisal Buzz

When the pandemic hit, rent prices in large cities took a hit as people fled heavily populated areas and moved to the less crowded, and cheaper, suburbs. But as vaccines rolled out, people came back and rent began to rebound.

Real estate educator reveals ‘terrifying’ Halloween appraisals

Valuation Review

It is the time of the season where a good scare is usually just around the corner. In the McKissock Learning post “Terrifying Encounters from Real-Life Appraisers,” the company recounted a few “scary” propositions that came an appraiser’s way when examining certain properties.

Mortgage rate increases push refinance share lower

Housing Wire

Mortgage applications increased 0.3% from last week, per the latest report from the Mortgage Bankers Association for the week ending Oct. 22, 2021. With two consecutive weeks of mortgage rates over 3%, refinances continued to retreat. The refinance share of mortgage activity decreased to 62.2%

High Prices Continue to Reduce Interest for New Construction

Eyes on Housing

In the first quarter of 2018, only 15% of prospective buyers were looking for a newly built home.

Freddie Mac Reports Rise in Mortgage Rates

Appraisal Buzz

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.14%.

Fannie Mae: High home prices weighing on homebuying sentiment

Valuation Review

The Fannie Mae Home Purchase Sentiment Index decreased 1.2 points to 74.5 in September, as survey respondents continued to report divergent opinions of homebuying and home-selling conditions. Overall, three of the index’s six components decreased month-over-month. Read on for more from this report


Home price growth remained at record pace in August

Housing Wire

After four consecutive months of record growth, annual home price growth remained steady from July to August, according to the latest S&P CoreLogic Case-Shiller National Home Price Index report released Tuesday. The index showed a 19.8%

Personal Income Declined 1% in September

Eyes on Housing

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income slumped 1% in September to a seasonally adjusted annual rate (SAAR) of $20.49 billion.

National Association of Realtors Observes Pending Home Sales Drop in September

Appraisal Buzz

Pending home sales dipped in September, retreating slightly following a previous month of growth, according to the National Association of Realtors. Each of the four major U.S.

A conversation with automated floorplan technology company exec Jeff Allen

Valuation Review

Earlier, Valuation Review reported the recent acquisition of CubiCasa, a Finland-based proptech startup, by Clear Capital.

New York poised to expand CRA rule to nonbank lenders

Housing Wire

New York State is close to approving a controversial bill that expands the requirements of the state community reinvestment act (CRA) to non-depository lenders, following the lead of Massachusetts and Illinois.

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Economic Growth Decelerates in the Third Quarter of 2021

Eyes on Housing

Real GDP growth slowed to a moderate pace in the third quarter of 2021, as supply-chain disruptions continued, the cost of living rose, and 4.3 million workers quit their jobs.