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

article thumbnail

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. One of my main goals for sharing housing sales data in 2021 is to give people a sales trend range to work off this year to know if home sales are doing well. Last year we had an abnormal burst of housing demand that was just make-up demand from the COVID-19 pause in the second half of 2020.

article thumbnail

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. I’d love to hear your take in […].

Law 465
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

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. Last month we asked appraisers, “What’s one thing you wish you could STOP doing to save time in your workday?

Appraisal 370
article thumbnail

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. Sam Khater, Freddie Mac’s chief economist, said in a statement that rates rose across all loan types, in conjunction with the 10-year U.S.

Mortgage 483
article thumbnail

Why Courses Only in Data Science?

George Dell

Many of you ask why we only teach courses using a data science approach to valuation. The answer is quite simple: It’s comprehensive, covering existing aspects of valuation. It sharpens the judgment involved with traditional methods. It increases usefulness, enabling appraisers to provide more than one service. Teaching only data science is also the topic […].

Valuation 195

More Trending

article thumbnail

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%. For the nine census divisions, seasonally adjusted monthly house price changes from June 2021 to July 2021 ranged from +0.8% in the West North Central.

Finance 370
article thumbnail

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% a month prior. This is the highest annual rate of price growth since the index began in 1987 and the fourteenth consecutive month of accelerating prices.

article thumbnail

[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. Leveraging digital Daily Construction Reports, contractors in the field can easily select a project name and instantly populate corresponding details, like the job site address.

article thumbnail

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. There is typically only about 1-2 weeks of pretty fall color so I always try to notice it before a big gust of wind comes through and blows all of the leaves to the ground.

article thumbnail

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? appeared first on Appraisal Buzz.

article thumbnail

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. According to PennyMac, for a one-unit property a borrower could receive $625,000, an increase of almost $75,000 from the maximum loan limit dictated by the Federal Housing Finance Agency (FHFA). The 2021 baseline national conforming loan limit for a one-unit property is currently capped at $548,250, though this number is expected to increase sometime in November.

Finance 450
article thumbnail

[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. Featuring the likes of Procore and Acumatica, Construction Executive’s inaugural round-up of 2021’s Top Construction Technology Firms , highlights impactful technology and software solutions serving the construction industry.

article thumbnail

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. A previous analysis indicated that the primary residence continued to be the largest asset category on the balance sheets of households in 2019 and it accounted for about one quarter of all.

Finance 166
article thumbnail

“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.” This response reminds me of the fitness culture several years ago, when it felt as though everyone I met would first tell me that they did CrossFit, sometimes before even stating their name. Despite the way such statements are often delivered, it’s important to admit that these people are on to something.

article thumbnail

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.”. The Orange County, California-based retail lender , led by CEO Anthony Hsieh, in a lawsuit filed in San Diego Superior Court in June, alleged that the seven employees — the Meredith-Rogers team¸— stole client lists and

Retail 433
article thumbnail

ProTip: Add Instant Calculations To Your Budget Modifications

GoForrmz

Utilize the Calculation Builder to add instant calculations to your digital budget modification forms Digital forms provide countless benefits for industries of all kinds, including the ability to simplify and streamline your budget modifications through the use of instant calculations and the Calculation Builder. This feature can be accessed within the Template Editor, presenting users with an index of all available functions, fields, and variables.

153
153
article thumbnail

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. However, consumer confidence was still at a high level and the consumer price index has shown signs of easing inflation. The Consumer Confidence Index, reported by the.

150
150
article thumbnail

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. MBA’s 49 page study, written by Sean Becketti, former chief economists for Freddie Mac, calls global warming “the source of climate change” and says its certainty is documented by 150 years

article thumbnail

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. The Seattle-based home listings platform had announced buying the Chicago-headquartered schedule making app in February during the company’s annual earnings call.

article thumbnail

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. In this series, we’ve addressed lots of useful information about the appraisal process, and today’s post is […]. The post The Loan Officer’s Guide to Appraisals Part 10: How Extraordinary Assumptions Are Used appeared first on Riverfront Appraisals.

article thumbnail

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. We at Fannie Mae take allegations of appraisal bias seriously, and as one of the largest consumers of residential appraisals in the United States, we want to make sure we are doing all we can to identify and help prevent it.

article thumbnail

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. The post Home Prices Become More Affordable Than Their Housing Boom Peaks appeared first on Appraisal Buzz.

Appraisal 365
article thumbnail

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 is hot, hot, hot here,” Clay Winder, a real estate agent for Keller Williams Westfield , said.

article thumbnail

How to Write Inspiring Real Estate Listing Descriptions

McKissock

[link]. At some point in your real estate career, you’re going to need the ability to write inspiring real estate listing descriptions to sell properties fast. Being a real estate agent requires you to be a great seller and one of the first impressions potential buyers will have of you is the real estate listing descriptions you write for your properties.

article thumbnail

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? NEW YORK – An investigation by The Markup determined that lenders in 2019 were more likely to refuse home loans to people of color than to white people with similar financial characteristics, even when adjusted for newly available financial factors that the mortgage industry

article thumbnail

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. According to MBA’s estimate, 1.5 million homeowners are in forbearance plans.

Mortgage 363
article thumbnail

VA extends deadline for loan deferment

Housing Wire

The Department of Veterans Affairs announced this week that it is extending the timeframe for borrowers to request loan deferment. According to the VA’s circular, servicers may continue offering loan deferment until July 1, 2023, thus pushing the deadline nearly two additional years. The original expiration of this option was supposed to occur on Oct. 1, 2021.

Law 404
article thumbnail

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? If you are currently a homeowner or are looking to become one, mold will more than likely be something you have to deal with at some point in that process.

article thumbnail

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. Since President Joe Biden took office, the economy has created more than four million jobs, with an average of more than 830,000 new jobs over the last three months, the White House said.

article thumbnail

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.

Mortgage 281
article thumbnail

Forbearance rate finally hits pre-pandemic levels

Housing Wire

Servicers’ forbearance portfolio volume dropped last week to a level below 3.00% for the first time in 18 months. The total number of loans in forbearance decreased by four basis points to 2.96% as of Sept. 19, according to the Mortgage Bankers Association (MBA). The most notable decline was in the portfolio loans and private-label securities (PLS) category, dipping by four basis points to 6.91%, after a drop of 32 bps in the prior week.

Mortgage 404
article thumbnail

The Biggest Time Management Challenges for Appraisers

McKissock

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. Last month we asked appraisers, “What’s one thing you wish you could STOP doing to save time in your workday?

article thumbnail

Opteon announces another acquisition

Valuation Review

Opteon, an international provider of valuation, advisory, and property services, has acquired Valucentric, the company announced in a release. Opteon uses technology to deliver an average of 2-day turn times and on-demand same-day appraisals. Read on for more details.