Sat.Sep 25, 2021 - Fri.Oct 01, 2021

Pending home sales data crushes housing bears

Housing Wire

Today’s pending home sales came in at a big beat of estimates, running at 8.1% for this report. More importantly, this data line looks just right.

The Biggest Time Management Challenges for Appraisers

Appraisal Buzz

Time management challenges are a big issue for many property appraisers. Your income depends on how many appraisal assignments you can complete each month and each year—and you need time to produce each report. In other words, time is money.

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Goodbye single family zoning

Sacramento Appraisal Blog

Goodbye single family zoning. If you didn’t know, two weeks ago SB9 was signed into law in California, which now allows property owners to build a duplex on any residential lot or subdivide to build up to four units. This is massive news, so let’s talk about it.

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3 Tips for Downsizing Your Home While Keeping Your Pet Safe and Happy

Cleveland Appraisal Blog

I hope you are all doing great! This week, I am happy to welcome a guest blogger, Penny Martin. I think you’re going to enjoy her article. Especially if you have pets and are thinking of downsizing. I have more articles I am working on for future posts.

Mortgage rates finally eclipse the 3% mark

Housing Wire

The average 30-year-fixed mortgage rate rose 13 basis points to 3.01% for the week ending Sept. 30, according to Freddie Mac’s latest PMMS survey. Mortgage rates had been roughly flat for seven weeks, and this is the first time it rose above 3% since June.

Do You Know Where Your Advances Are?

Appraisal Buzz

Aspen Grove discusses the recovery of advances for property inspection and preservation expenses continuing to challenge mortgage servicers (Sponsored Content). The post Do You Know Where Your Advances Are? appeared first on DSNews. The post Do You Know Where Your Advances Are?

Finding Comps in Non-Disclosure States

The Appraiser Coach

All three states that I’m licensed in, Idaho, Utah and Wyoming, are non-disclosure states. I’ve never worked in a disclosure state and so I’m always a bit surprised when I’m. Read More.

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US home prices hit record level (again)

Housing Wire

July marked the fourth consecutive month in which the growth rate of home prices set a record, according to the latest S&P CoreLogic Case-Shiller National Home Price Index Report released on Tuesday. The index showed a 19.7% annual gain for the year ending in July 2021, up from 18.7%

“I do Non-Lender Work…” is the New CrossFit

Appraisal Buzz

You can hardly post anything on an appraisal forum or social media without the first 17 comments stating, “I do non-lender work.”

Share of New Homes With 4 or More Bedrooms Jumped in 2020

Eyes on Housing

The U.S. Census Bureau Survey of Construction’s (SOC) 2020 estimates of the shares of the number of bedrooms in new single-family homes showed a sharp upswing in the percentage of new homes started with 4 or more bedrooms, unlike in prior recent years.

September Newsletter- It’s Fall Ya’ll

DW Slater Company

Few Signs of Cooling. Fall is always an interesting time here in North Texas. Although we do not experience some of the beautiful fall colors or temperatures as other states, the weather does begin to change, leaves do begin to change their color and fall.

PennyMac, UWM raise conforming loan limit ceiling

Housing Wire

PennyMac announced this week that it is upping conforming loan limits by almost 14% through broker and correspondent channels.

Climate Change and Housing; Double Whammy For Home Prices; Rates Are Surging

Appraisal Buzz

Two important members of the real estate community issued reports related to the impact of climate change within the last week. The Mortgage Bankers Association (MBA) Research Institute for Housing while CoreLogic’s study was concerned with the housing costs associated with wildfires.

Two-Story Foyer Sees an Opposite Trend in 2020

Eyes on Housing

Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows the share of new homes with a two-story foyer increased in regions where we saw a decline in 2019.

Medical Professionals Moving Guide: Healthcare Relocation Resources

Raleigh Realty

Medical Professionals Moving Guide: Healthcare Relocation Resources Are you a healthcare professional who is looking to move to a new city? Here are some tips and tricks to help make the process easier Healthcare professionals, especially today, are a vital component of society.

Affordable housing vacancy drops, and rents are climbing

Housing Wire

The vacancy rate for low-income tax credit-supported affordable housing dropped to 2.5% nationwide in the second quarter of 2021, a decrease of.01% from the first quarter, according to Moody’s Analytics REIS , New York.

FHFA House Price Index Up Nearly 20% from Last Year

Appraisal Buzz

House prices rose nationwide in July, up 1.4% from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI). House prices rose 19.2% from July 2020 to July 2021. The previously reported 1.6% price change for June 2021 was revised upward to 1.7%.

Homeownership Rates by Race and Ethnicity

Eyes on Housing

The Survey of Consumer Finances (SCF) provides detailed information on the finances of U.S. families, including income, net worth, balance sheet components, credit use, and other financial outcomes.

[Video] GoFormz + Procore: Digitally Complete & Route Daily Construction Reports From The Field

GoForrmz

Complete digital Daily Construction Reports from the field and instantly upload forms and data to Procore The GoFormz and Procore integration enables construction teams to streamline and accelerate the completion of daily tasks and documentation.

LoanDepot sued 7 LOs after they left for a rival

Housing Wire

LoanDepot CEO Anthony Hsieh. After an origination team departed loanDepot in April of this year, loanDepot slammed the seven ex-employees and their new employer, CrossCountry Mortgage , with a lawsuit alleging they “hatched and implemented a scheme to loot loanDepot’s business.”.

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Home Prices Become More Affordable Than Their Housing Boom Peaks

Appraisal Buzz

While nominal house prices in July were 35% higher than at the housing boom peak for prices in 2006, house-buying power remains nearly 38% below its 2006 housing boom peak. The post Home Prices Become More Affordable Than Their Housing Boom Peaks appeared first on theMReport.com.

Consumer Confidence Falls to 7-month Low in September

Eyes on Housing

Consumer confidence fell for a third consecutive month in September, as concerns about the Delta variant and higher prices continued to dampen optimism. Spending intentions for homes, cars, and major appliances all retreated.

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The Loan Officer’s Guide to Appraisals Part 10:  How Extraordinary Assumptions Are Used

Riverfront Appraisals

Welcome to the October edition of our blog series, The Loan Officer’s Guide to Appraisals. If you’ve been following along with us, you know this is part 10 in our year-long series on appraisals and the loan officer.

Zillow’s purchase of ShowingTime closes

Housing Wire

Zillow on Thursday completed its $500 million acquisition of ShowingTime , which real estate agents use to schedule home viewings, as federal regulators did not extend their window to review the deal.

Share of Mortgage Loans in Forbearance Drops to 2.96%

Appraisal Buzz

The Mortgage Bankers Association ‘s (MBA) latest Forbearance and Call Volume Survey has revealed that the total number of loans now in forbearance decreased by 4 basis points from 3% of servicers’ portfolio volume in the prior week to 2.96% as of September 19, 2021.

Private Residential Spending Keeps Rising in August

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.4% in August to a seasonally adjusted annual rate of $786.6 billion. Total private residential construction spending was 24.3% higher than a year ago.

[Press & News] GoFormz Named To Construction Executive's '2021 Top Construction Technology Firms'

GoForrmz

GoFormz highlighted as a top construction technology solution We are thrilled to announce that GoFormz has been selected as a ‘Top Construction Technology Firm’ by Construction Executive.

Introducing the 2021 HousingWire Vanguards

Housing Wire

If you were tasked with defining the word “leadership,” how would you explain what it means? The word encapsulates so much, and yet according to Merriam-Webster, it can be summed up as “the power or ability to lead other people.”.

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Mortgage M&A Activity Takes Off in 2021

Appraisal Buzz

They year 2018 saw historic levels of merger and acquisition activity, but new data suggests that 2021 will surpass that activity as the industry finds itself in the midst of consolidation. The post Mortgage M&A Activity Takes Off in 2021 appeared first on theMReport.com. The post Mortgage M&A Activity Takes Off in 2021 appeared first on Appraisal Buzz. Around The Web

Racial Bias in Appraisals Survey

Appraiserblogs

Fannie Mae wants to hear from you about racial bias in appraisals. The survey closes on October 3, 2021. News media reports alleging racial bias in home appraisals have turned a spotlight on the appraisal process in the mortgage industry.

A Secret Bias Hidden in Mortgage-Approval Algorithms

Empire Appraisal Group

A Secret Bias Hidden in Mortgage-Approval Algorithms. An investigation found lenders still strongly favor white borrowers, but it raised a new question: What if a lender isn’t biased but its data, notably credit scores, is?

Competing in the sizzling housing market of Provo, Utah

Housing Wire

Nestled between Utah Lake and the towering peaks of the Wasatch Mountain Range, it is hard to imagine that anything in the Provo-Orem metropolitan area could be anything other than serene. But for the past 12 months, the metro’s housing market has been in complete chaos. “It

Mortgage Limits Have NOT Changed; Forbearance Expiration Effects

Appraisal Buzz

The conforming loan limit is set by the Federal Housing Finance Agency (FHFA). Mortgages under that amount generally have the lowest effective rates, and in some cases are easier to qualify for. With prices appreciating rapidly in the past year, a big increase in the loan limit would be big news.

7 Ways to Deal With Mold

Raleigh Realty

Mold Remediation Tips and Tricks Here are 7 areas of your home you can find mold and some tips and tricks for how to get rid of it Mold. What is it? How do you get rid of it and why is it important to do so?

White House announces steps to increase affordable housing

Valuation Review

The White House recently announced, immediate steps to supplement the administration’s push for historic, long-term investments in new housing as part of its Build Back Better Agenda.

Regulation, forbearance leaves mortgage servicers in a bind

Housing Wire

The COVID-19 pandemic has caused historic, unprecedented challenges for mortgage servicers. Forbearance deadlines get pushed back seemingly in perpetuity, and an unproven, inconsistent technology infrastructure has the potential to result in a series of foreclosure and loss mitigation crises.

Lessons from German Appraisers

Appraisal Buzz

In today’s Buzzcast, we dive into what U.S. and Germany appraisers can learn from each other. Today we have Reiner Lux, General Manager of HypZert GmbH and Mattias Fischer, Manager of Valuation for VDP, with Joan Trice, Founder of Allterra Group, LLC.