Housing Wire
OCTOBER 5, 2021
Nearly one quarter of U.S. home sellers received four or more offers on their home in 2021, according to Zillow’s latest consumer housing trends report. The rise in the number of homes that received multiple offers is reflected in the increased frequency of bidding wars in 2021. Typical sellers received two offers, which is the same as the past three years.
Sacramento Appraisal Blog
OCTOBER 5, 2021
Tech companies and investment funds have their eye on residential housing. I wrote about this a few months ago and wanted to do a follow-up piece. Here are some things on my mind as well as fresh visuals. Any thoughts? TWO THINGS: 1) iBuyers are on a rampage: The iBuyer model has been on a […].
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The Appraiser Coach
OCTOBER 5, 2021
I mentor a lot of appraisers from all across the nation. Most of the time, appraisers ask me how to do something such as, how to get their business to. Read More.
Appraisal Buzz
OCTOBER 8, 2021
The U.S. economy added roughly 194,000 jobs in September, beating expectations and driving the unemployment rate down to 4.8%, according to the the U.S. Bureau of Labor Statistics. Sectors that saw the greatest job gains in September included leisure and hospitality, professional/business services, retail, and transportation/warehousing. The construction sector, however, only added 22,000 jobs in September and has shown little net change thus far this year, the BLS notes.
Housing Wire
OCTOBER 8, 2021
Skyrocketing U.S. home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. The median home price nationwide in August increased 14.9% from a year ago to $356,700, according to the National Association of Realtors. August marked the sixth consecutive month where median home prices increased by double-digit percentages from a year ago.
George Dell
OCTOBER 6, 2021
Fannie Mae’s Director of Collateral Policy, Lyle Radke, spoke at the Housing Wire conference this week. The audience was mostly non-appraisers. They laughed when he said: “Appraisers see their job as an art form. It’s hard for them to rigorously explain exactly what they’re doing.” For the record, what we do at Valuemetrics.info is exactly […].
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
OCTOBER 8, 2021
The number of mortgages in forbearance saw its l argest reduction in 12 months l ast week. Black Knight said 177,000 loans exited the program, many of them having reached the end of the 18 months of reduced or suspended payments allowed for those financially impacted by the COVID-19 pandemic. This is an 11 percent reduction in program participants during the week ended October 5.
Housing Wire
OCTOBER 4, 2021
In several previous articles I have opined that an increase in mortgage rates may be our only hope for slowing the escalation of home prices that we’ve been experiencing for the past year. With mortgage rates hitting above 3% last week for the first time since June, it’s a good time to revisit this conversation and what we should expect next for mortgage rates.
GoForrmz
OCTOBER 6, 2021
Utilize new, innovative technology to bolster your real estate initiatives and workflows Digital transformation has become more prevalent than ever before. Many industries have been forced to make technological advancements to keep pace with the rapid pace of modernization – one of which being the real estate industry. PropTech (Property Technology) has become the new industry buzzword that has highlighted innovative solutions and technology to further advance and modernize the way you research,
Eyes on Housing
OCTOBER 8, 2021
Job gains slowed for the second straight month amid the resurgence of COVID-19 cases. Total payroll employment rose by 194,000 in September and the unemployment rate dropped to 4.8%. For the coming months, job gains are expected to accelerate as COVID-19 cases began to subside. Despite the slowdown in total nonfarm payroll employment, aggregate construction industry (both residential and non-residential).
Appraisal Buzz
OCTOBER 8, 2021
In a letter to the White House, NAHB Chairman Fowke outlined three major areas of concern for home builders that may negatively impact the overall U.S. economic landscape. The post NAHB Urges Biden to Address Home Construction Bottlenecks appeared first on theMReport.com. The post NAHB Urges Biden to Address Home Construction Bottlenecks appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 7, 2021
The average 30-year-fixed mortgage rate slipped back down to 2.99% for the week ending Oct. 7, according to Freddie Mac ’s latest PMMS survey. The week before , rates had made it above the 3% mark for the first time since June. Sam Khater, Freddie Mac’s chief economist, said in a statement that rates remain close to 3% as a result of continued unknowns in the financial markets, as the pandemic lingers on.
Appraiserblogs
OCTOBER 7, 2021
…any suspicion of a discriminatory appraisal by the holder of a real estate appraiser license… Folks in the Golden State, here’s something you’d better keep a very keen eyeball on: Appraiser Discrimination – AB 948 (Holden) Signed by Gov. Newsom This law requires a purchase agreement in a real estate transaction to inform a seller and buyer of the opportunity to report, through the Department of Consumer Affairs’ internet website or telephone number, any suspicion of a di
Eyes on Housing
OCTOBER 6, 2021
Homeownership continues to be a primary driver of household wealth, according to the 2019 Survey of Consumer Finances (SCF). Though homeownership rates increase with age, young households, those under the age of 35, experienced the largest gains for homeownership in 2019. Additionally, the share of young households with home mortgage debt and auto loans increased, while share with education loans.
Appraisal Buzz
OCTOBER 8, 2021
As part of the Presidents’ plan to confront the changing climate, the U.S. Department of Housing and Urban Development (HUD) released a plan on how it can adapt to a world with a changing climate and to ensure that its operations are resilient to potential impacts. The plan was announced alongside 23 other federal agencies who each released their own set of plans.
Housing Wire
OCTOBER 6, 2021
Fannie Mae announced Wednesday that, starting in 2022, it will allow third-parties to fulfill the homeownership education requirement on some affordable mortgages. Third-party homeownership education providers will still have to be aligned with the National Industry Standards for Homeownership Education and Counseling or with the Department of Housing and Urban Development Housing Counseling Program, if it is not a HUD-approved counseling agency.
Hank Miller Team
OCTOBER 7, 2021
The idea that a company or investment firm will provide a cash offer for your home is instinctively positive, what’s not to like? To be clear, this is called a “direct sale” as the home isn’t offered for sale in traditional ways. Usually a buyer contacts a seller directly (often initiated by the seller) with an offer and terms of sale. Executed correctly, an off market or direct sale cash transaction can be completed very quickly; about as long as it takes to clear title and get the closing docs
Eyes on Housing
OCTOBER 4, 2021
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2021 compared to the first quarter of 2021. According to the U.S. Bureau of Economic Analysis (BEA), the percent change increase in real GDP ranged from 9.7 percent in Nevada to 1.8 percent in Alaska. Nationwide, growth in real GDP, measured.
Appraisal Buzz
OCTOBER 8, 2021
An upcoming Legal League 100 webinar examines the operational changes that servicers must navigate in addition to the new rules and regulations governing their foreclosure business. The post The Week Ahead: Balancing Regulatory and Operational Changes as Foreclosure Volume Increases appeared first on DSNews. The post The Week Ahead: Balancing Regulatory and Operational Changes as Foreclosure Volume Increases appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 4, 2021
Over half of Realtors said that social media was their top lead-generating technology tool, according to a new survey report from the National Association of Realtors. The most popular social media app among the random sample of Realtors surveyed was Facebook , with 90% of respondents reporting they used the app, followed by Instagram at 52% and LinkedIn at 48%.
GoForrmz
OCTOBER 4, 2021
Mavid Group streamlines the completion of construction job site onboarding forms, insurance documentation, and compliance processes with digital forms, online form sharing, and the Egnyte integration. “ GoFormz allows us to manage everything effectively, and easily, from the office. Before it was all guesswork and intangible, but now we have that same data that we were inputting manually before and it’s all being put to use to actively manage the company. ” — Seth Allwood, Safety
Valuation Review
OCTOBER 4, 2021
The topic of modernizing the real estate appraisal workflow has created a fair amount of controversy, which is strange given the many benefits every other function in the home financing transaction has enjoyed, says Class Valuation in its latest white paper titled “Modernizing the Appraisal Workflow.” The pathway to digital lending is literally littered with positive impacts, for lenders, service providers, regulators and, of course, borrowers.
Appraisal Buzz
OCTOBER 8, 2021
The Bureau of Labor Statistics projects that job growth for appraisers between 2019–2029 will be 3%, which is on pace for all occupations. Since the real estate market impacts the work of real property appraisers, demand for appraisers can fluctuate from year to year. However, in general, the need for appraisers is increasing due to long-term economic expansion and population growth.
Housing Wire
OCTOBER 7, 2021
It is no surprise that four Californian metropolitan areas led the way in unaffordability in September. Interestingly, San Diego actually surpassed Los Angeles in unaffordability, according to a new report from OJO Labs. The report is based on data collected from every metro area in which more than 1,000 homes were sold in September. San Diego’s median home sold price rose to $750,000 in September, marking a 2.4% increase from August and a 20% year-over-year increase.
JMV Lending
OCTOBER 4, 2021
AGENTS WERE LIVID WHEN APPRAISAL CAME IN LOW We recently had an appraisal come in $25,000 under contract price – and the agents were irate! They sent us comps that they insisted the appraiser should correlate to – but: (1) the comps were in another development a few miles away; and (2) the comps were […]. The post Appraisers Can’t Ignore “Bad” Comparable Sales; Agents Shouldn’t Either appeared first on JVM Lending.
Valuation Review
OCTOBER 4, 2021
For this month’s installment of news appraisers should know, Dustin Harris, “The Appraiser Coach,” offers advice from his blog “The Best Idea for IT Support for Your Appraisal Office.” Harris reminds appraisers of how to better spend their time in the office. Read on to learn more.
Appraisal Buzz
OCTOBER 7, 2021
Kris Barros has joined Waterstone Mortgage as vice president, compliance. Barros has more than 20 years of experience in the mortgage lending and finance industries. He has held several senior-level compliance, regulatory and audit, and marketing positions throughout his career. Most recently, he served as the marketing compliance manager for Guaranteed Rate in Chicago.
Housing Wire
OCTOBER 8, 2021
Total non-farm employment added a disappointing 194,000 jobs in the month of September, bringing the unemployment rate down to 4.8%, according to the U.S. jobs report released on Friday. This is the ninth consecutive month of net payroll gains, however employment has yet to return to pre-pandemic levels. After losing 3,000 jobs in August , the construction sector added 22,000 jobs in September.
McKissock
OCTOBER 3, 2021
As part of our contributor series, Daniela Andreevska , content marketing director at Mashvisor , talks about investment property strategies. Mashvisor provides a real estate analytics tool that helps real estate investors quickly find traditional and Airbnb investment properties. . One of the best aspects of real estate investing is the variety of options that you can choose from.
BiggerPockets
OCTOBER 7, 2021
Increasingly, Americans are viewing climate change as a serious issue. A poll taken earlier this year by Morning Consult found that 50% of Americans say climate change is a “critical […].
Appraisal Buzz
OCTOBER 7, 2021
With 34 years of industry experience, Interfirst’s new VP of Regional Wholesale Production will be tasked with growing the firm’s national footprint. The post Interfirst Adds Tony Santangelo as East Coast VP of Wholesale appeared first on theMReport.com. The post Interfirst Adds Tony Santangelo as East Coast VP of Wholesale appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 6, 2021
Mortgage application volume dropped 6.9% for the week ending Oct. 1, as higher rates reduced borrowers’ waning appetites for refis even further , according to the Mortgage Bankers Association (MBA). On an unadjusted basis, the index fell 7% in the period. Pushing the decline was the refinance index , which dipped by 10% from the previous week to its lowest level in three months.
McKissock
OCTOBER 6, 2021
It seems like it was just yesterday when people were downsizing their homes, gravitating towards properties with public communal spaces, and fawning over open floor plans. But today? The pandemic has changed all of that. Not only are more people relocating to larger, more remote homes outside of big cities, they’re also redesigning the inside of those homes to better align with their not-quite-lockdown, not-quite-post-pandemic lifestyle.
Lamacchia Realty
OCTOBER 4, 2021
FALL HOME MAINTENANCE TO-DOS! Fall is a whirlwind. Easy summer living quickly turns into busy routines, afternoon and weekend activities and before you know it, you’ve been so busy fall turns into winter. Be sure to take care of these home maintenance tasks before the first freeze. 1) Shut off your hoses and bring in your hose reel. Frozen water expands and can very easily damage any mechanisms in your hose or the hose reel, so drain it and bring them indoors before the first freeze. 2) Clean ou
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