Housing Wire
OCTOBER 26, 2021
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. After 25 days on the market, there were no takers for the 1,400-square-foot home and Pellegrini counseled his client about potentially lowering the listing price. Then Zillow came along.
Sacramento Appraisal Blog
OCTOBER 27, 2021
What’s going to happen to the housing market? Is it going to crash? That’s a huge question as so many people are wondering how long price growth can continue. Let’s talk about this today by focusing on some of the bigger topics in this conversation. Spoiler alert. This isn’t a YES or NO sort of […].
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Cleveland Appraisal Blog
OCTOBER 29, 2021
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? At first, you might be thinking that this means the estimated years remaining before a house falls over, so to speak.
Appraisal Buzz
OCTOBER 27, 2021
“A New Appraiser Discusses his Journey into the Industry” was originally published in May 2021. In this Buzzcast, we have Marcus Knight, a recently licensed appraiser diving into his firsthand account with the Appraiser Diversity Initiative (ADI) by Fannie Mae and the challenges facing trainee appraisers today. In addition to sitting down with us, Marcus also wrote an article for us below about his journey in this industry.
Housing Wire
OCTOBER 29, 2021
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. The Q&A was hosted in the HW+ Slack channel, which is exclusively available to members.
George Dell
OCTOBER 27, 2021
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. Ways and words […]. The post Does a Variable Vary? Part I appeared first on George Dell, SRA, MAI, ASA, CRE.
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Appraisal Buzz
OCTOBER 25, 2021
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. September marked the first time that the national delinquency rate fell below 4% in 18 months. What would have been stronger improvement was partially offset by delinquencies rising by 7,800 in FEMA-declared disaster areas in hurricane-impacted Louisiana and by 11,000 in.
Housing Wire
OCTOBER 28, 2021
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. Sam Khater, Freddie Mac’s chief economist, said in a statement that the yield on the 10-year Treasury has been increasing “due to the decline in new COVID cases, increasing consumer optimism, as well as
Eyes on Housing
OCTOBER 27, 2021
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. Housing has continued to expand in 2021, although as the rest of the economy recovers, the housing.
GoForrmz
OCTOBER 26, 2021
Run a lean manufacturing organization with GoFormz digital forms and data capture Manufacturing requires an immense amount of information to flow between the field and office. To run a lean manufacturing organization, companies need to focus on how to maximize customer value while using fewer resources. Paper forms can cause project delays, errors in data, and an inability to effectively communicate between departments.
Appraisal Buzz
OCTOBER 29, 2021
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. Redfin Analyst Tim Ellis attributed the rise to homebuyer demand, which has remained steady and strong over the last few … The post Is Homebuyer Demand Keeping the Market Up?
Housing Wire
OCTOBER 25, 2021
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. “There are probably three or four people that I work with,” Dunn said. “Anyone that’s a great communicator will get my attention.”.
Eyes on Housing
OCTOBER 25, 2021
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%. Meanwhile, the share of prospective buyers.
GoForrmz
OCTOBER 27, 2021
Streamline recruitment, onboarding, time-tracking, and employee management with digital human resources forms HR departments are a critical part of a business linking the organization’s management and the employees. Human Resources ensures that qualified candidates are hired, employees are easily onboarded to the team, and help to maintain high employee satisfaction.
Appraisal Buzz
OCTOBER 29, 2021
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. The post CoreLogic Finalizes Deal to Acquire ClosingCorp appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 26, 2021
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% annual gain for the year ending in August 2021, remaining the same as the previous month. This remains the highest annual rate of price growth since the index began in 1987.
Eyes on Housing
OCTOBER 25, 2021
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. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased at a slower rate by 194,000 in September, following an upwardly revised increase of 366,000 jobs in August.
GoForrmz
OCTOBER 25, 2021
Digitally transform your daycare daily operations with easy to use digital forms Paper forms are a common burden for any industry, requiring physical record-keeping, costly supplies, and manual processing – and daycare centers are no exception. Many daycare centers are turning to digital solutions to better modernize their operations, expedite onboarding processing, improve professionalism, and much more – resulting in elevated customer satisfaction and time and budget savings.
Appraisal Buzz
OCTOBER 29, 2021
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. The post The Week Ahead: The Evolution of Forbearance appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 27, 2021
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% of total applications, down from 63.3% the week prior. The refinance index was down 2% from the week prior, a staggering 26% lower than it was the same week last year.
Eyes on Housing
OCTOBER 29, 2021
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 percentage points over Q2 2021 (revised) and has risen each of.
GoForrmz
OCTOBER 28, 2021
Childcare service providers expedite enrollment processing, centralize record-keeping, and automate workflows with digital forms Traditional paper documents provide various obstacles across daily operations – from costly onboarding delays to missing information. Nothing obstructs workflows like unprofessional, inaccurate, and messy paper forms. Fortunately, digital forms provide endless possibilities for childcare service providers to streamline their business operations, that paper forms simply
Appraisal Buzz
OCTOBER 29, 2021
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. According to a new report by Realtor.com, rent prices over the last month have not just recovered but are making up for lost … The post Rent Continues Upward March appeared first on theMReport.com.
Housing Wire
OCTOBER 25, 2021
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. The CRA rule, enacted in 1977, mandates that banks help meet the credit needs of communities in which they take deposits, specifically in low- and moderate-income neighborhoods.
Eyes on Housing
OCTOBER 27, 2021
In the first quarter of 2018, only 15% of prospective buyers were looking for a newly built home. The onset of COVID-19 propelled that share up to 42% by the final quarter of 2020, but strong gains in new home prices have driven it down for the last three quarters, reaching 32% in the third quarter of 2021. Meanwhile, the.
Advanced Appraisal
OCTOBER 23, 2021
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.
Appraisal Buzz
OCTOBER 29, 2021
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. regions saw contract activity decline month-over-month and year-over-year, with the Northeast weathering the largest yearly drop. The Pending Home Sales Index (PHSI) decreased 2.3% to 116.7 in September.
Housing Wire
OCTOBER 28, 2021
After rising 8% in August, pending home sales dropped 2.3% in September, according to the National Association of Realtor’s pending home sales index report released on Thursday. The index dropped to 116.7 in September, which is 8% lower than a year ago. An index level of 100 is equal to the level of contract activity in 2001. “Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” L
Eyes on Housing
OCTOBER 28, 2021
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. According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 2.0% in the third quarter of.
Appraiserblogs
OCTOBER 29, 2021
…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. Bankrate.com has a revealing article published on Oct. 27, 2021, titled As Appraiser Shortage Delays Closings, Mortgage Giants Try Workaround | Bankrate FHFA (the GSE’s “manager”), after the administration change, under pressure from mortgage brokers and lenders, and after the experiment with th
Appraisal Buzz
OCTOBER 29, 2021
In the pursuit of equitable housing for all, an upcoming webinar will address the challenges faced by more and more to find a home to purchase or rent within their means. The post The Week Ahead: Answering the Affordability Bell Through Rentals appeared first on theMReport.com. The post The Week Ahead: Answering the Affordability Bell Through Rentals appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 25, 2021
For the fifth consecutive month the number of bidding wars on home sales declined, according to a new report from brokerage Redfin. In September, 58.9% of offers written by Redfin agents ended up in a bidding war, the lowest rate so far in 2021 and nearly on par with the September 2020 bidding war rate of 58.3%. A month prior , 60.8% of offers written by Redfin agents faced competition.
Eyes on Housing
OCTOBER 29, 2021
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. This decrease in personal income was largely due to declines in the government social benefits, including economic impact payments and the pandemic unemployment compensation.
Midtown Appraisal Group
OCTOBER 23, 2021
How appraisers look at the components of a property, Part 1 If you’ve recently bought or sold a home that involved a mortgage or loan, chances are an appraiser has been involved at some point to confirm the property’s value. And if you asked your agent or mortgage broker what an appraiser looks at, they […].
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