Sat.Nov 13, 2021 - Fri.Nov 19, 2021

Housing permits reflect rising builder confidence

Housing Wire

Today, the U.S. Census Bureau reported that housing starts came in as a miss of estimates at 1.52 million for October and housing permits came in at a beat at 1.65 million.

Random Thoughts of an Appraiser – Part 6

Appraisal Buzz

Matt Simmons has been busy with his sixth edition of “Random Thoughts of an Appraiser!” There are plenty of times where appraisers have collectively had thoughts or concepts that can be communicated and/or questioned in a sentence and don’t need a dedicated article.

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Comparables — Are 3 Enough?

George Dell

Three comparables have been the standard for many years. On the residential appraisal side, some clients ask for more (such as current listings). For ‘general’ appraisal, typically four to six comparable sales are enough to achieve believability (credibility).

Check Your Oil

The Appraiser Coach

You need to take care of yourself, even when you are busy and you’re having record breaking months. You can work hard but you still need to include some rest. Read More.

Mortgage rates climb back up, to 3.10%

Housing Wire

Mortgage rates strongly increased above 3% in the week ending November 18, according to the latest Freddie Mac PMMS mortgage report. The 30-year fixed-rate mortgage hit 3.10%, up 12 basis points from 2.98% the week prior.

2022 To Be Another Good Year For Real Estate; Upward Rate Momentum Continues

Appraisal Buzz

After hitting the lowest levels in over a month last Tuesday, mortgage rates have been moving higher fairly quickly each day since then. Most of the damage occurred on Wednesday and Friday of last week (markets were closed on Thursday), but today got progressively worse as the hours ticked by.

A slowing housing market, but still on steroids

Sacramento Appraisal Blog

Real estate has been slowing, but it’s still completely nuts. I’ll explain below. But first let me unpack the NAR conference in San Diego and share some exciting personal news. Then stats and perspective for those interested.

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Better.com forecasts another rough quarter

Housing Wire

Vishal Garg, founder and CEO, Better.com.

The Week Ahead: Where Is the Housing Market Going in Q4?

Appraisal Buzz

After months of record home sales, fierce bidding wars, and low rates, the market has cooled as supply has dwindled, and more are opting to see where the market settles. The post The Week Ahead: Where Is the Housing Market Going in Q4? appeared first on theMReport.com.

Is ANSI for Appraisers Really the Answer?

Appraiserblogs

The real estate industry has a square footage credibility problem. ANSI has been out since 1996 with no new pages added and very few changes. In a constantly changing industry with new home styles and designs, change is a requirement.

Multifamily Missing Middle Production Lags

Eyes on Housing

The missing middle construction sector includes development of medium-density housing, including townhouses, duplexes and other small multifamily properties.

October saw mortgage apps rise for new homes by 6%

Housing Wire

Mortgage applications for new home purchases dipped by 15.2% year-to-year in October, according to a monthly builder survey published by the Mortgage Bankers Association this week. However, on a month-to-month basis, activity was actually 6% higher in October than in the month prior.

Inventory Issues Not Enough to Slow Surging Demand

Appraisal Buzz

The combination of a healthy economic recovery and continued low rates is forcing home buyers into limited options. The post Inventory Issues Not Enough to Slow Surging Demand appeared first on DSNews. The post Inventory Issues Not Enough to Slow Surging Demand appeared first on Appraisal Buzz.

Appraisers Are Ghosting AMCs?

Appraiserblogs

From The Chrisman Commentary (Rob is a mortgage broker but an essential source of information on the mortgage industry). You can subscribe here. From Appraisals are near the top of any list of current lender and borrower complaints about the processing of mortgages.

Record Share of NAHB Members Report Labor Shortages

Eyes on Housing

Friday’s post described how, in the construction industry, job layoffs have plunged while unfilled job positions remain elevated (according to the government’s latest Job Openings and Labor Turnover report).

VA hikes appraisal fees, turn-times in select markets

Housing Wire

The Department of Veterans Affairs will raise appraisal fees and lengthen allowable turnaround times in select markets across the country in response to high demand for appraisals.

Home Buyer Demand Hits Peak Levels

Appraisal Buzz

At a time of the year when the market generally cools, home buyers are looking to land the home of their dreams among an ever-shrinking supply. The post Home Buyer Demand Hits Peak Levels appeared first on theMReport.com. The post Home Buyer Demand Hits Peak Levels appeared first on Appraisal Buzz.

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November Newsletter- Markets Slowing? Not So Fast!

DW Slater Company

“When I started counting my blessings, my whole life turned around.” Willie Nelson. As we are entering a busy holiday season, I hope that you are able to take some time for reflections. I do know the times have been trying the past 2 years.

September Single-Family Permit Gains

Eyes on Housing

Over the first nine months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 864,184. On a year-over-year (YoY) basis, this is a 21.2% increase over the September 2020 level of 713,286.

Investors spent a record $63B to buy homes in Q3

Housing Wire

Real estate investors spent a record $63.6 billion to purchase homes in the third quarter, up 78% from a year earlier, with an intense housing shortage fueling their returns, according to a Redfin report published on Monday. In total, investors acquired 90,215 homes in the third quarter, an 80.2%

LendingHome Completes Rebrand to ‘Kiavi’

Appraisal Buzz

New brand to key in on real estate investors’ access to capital and the revitalization of neighborhoods and rehabbing of homes across the U.S. The post LendingHome Completes Rebrand to ‘Kiavi’ appeared first on DSNews.

Missing Middle Housing in Victoria, BC

D Fritz Appraisals

Victoria’s Missing Middle Housing Initiative. As Canada’s housing market continues to hit record levels, young Victoria families are facing the decision to stay in condominiums and apartments or move elsewhere to be able to purchase a single-family home or townhouse with yard space.

Builder Confidence Up on Strong Demand Even as Supply Side Challenges Persist

Eyes on Housing

Low existing inventories and strong buyer demand helped push builder confidence higher for the third consecutive month even as supply-side challenges – including building material bottlenecks and lot and labor shortages – remain stubbornly persistent.

nCino to acquire SimpleNexus for $1.2B

Housing Wire

North Carolina-based fintech firm nCino has reached a deal to acquire mortgage tech vendor SimpleNexus for $1.2 billion, the company said in a statement late Tuesday afternoon. The sum entails a $240 million cash payment and approximately 13.2 million shares of nCino common stock, nCino said.

Mortgage Automator Integrates Lightning Docs Loan Document System

Appraisal Buzz

Mortgage Automator, a complete loan origination and servicing software for private lenders, has integrated Lightning Docs , a proprietary cloud-based loan document generation system developed in-house by the attorneys and partners at Geraci LLP.

3 Digital Checklists Every Retail Team Needs

GoForrmz

Digitize your retail checklists to improve daily operations and enhance the in-store experience for customers To ensure that your daily operations at your retail store are efficient and running smoothly, it is imperative that you have taken your paper checklists to digital.

Construction Loans Slightly More Available, But at Higher Rates

Eyes on Housing

In the third quarter of 2021, effective interest rates increased on all four categories of loans tracked in NAHB’s Survey on Acquisition, Development & Construction (AD&C). This result reverses a general downward trend that had prevailed since the third quarter of last year.

How Fannie Mae is leveraging technology to expand access to homeownership

Housing Wire

The advancement in digital mortgage has focused on delivering end-to-end digital solutions to improve the consumer experience. But even with this push to make a borrower’s life easier, systemic inequality still exists.

DS5: How Freddie Mac Is Aiding Servicers With PAID

Appraisal Buzz

Dave Lucchino, SVP, Single-Family Operations at Freddie Mac, discusses the PAID tool and how it can help servicers, as well as other client-centric solutions the GSE is working on. The post DS5: How Freddie Mac Is Aiding Servicers With PAID appeared first on DSNews.

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Cash-Out Refis Surge as Owners Use Equity Gains

Empire Appraisal Group

© skodonnell – E+ / Getty Images. Cash-Out Refis Surge as Owners Use Equity Gains. With double-digit annual gains fueling homeowner wealth, owners have gotten richer, and they’re starting to take advantage of that added equity.

Gains for Custom Home Building

Eyes on Housing

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building matched the best quarter for construction starts since the spring of 2008 during the third quarter of 2021.

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The case for (and against) lowering FHA premiums

Housing Wire

Soon after the Department of Housing and Urban Development released its Mutual Mortgage Insurance fund report, housing finance and policy experts opined on whether the Federal Housing Administration (FHA) should lower the fees it charges borrowers.

DS5: Freddie Mac’s Customer-Centric Solutions

Appraisal Buzz

In this episode of DS5, Dave Lucchino, SVP, Single-Family Operations for Freddie Mac, discusses the GSE’s PAID tool and how it’s aiding mortgage servicers. The post DS5: Freddie Mac’s Customer-Centric Solutions appeared first on theMReport.com.

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Real estate expert tracks investor purchase activity

Valuation Review

The RealtyTrac Investor Purchase Report – Fall 2021 analyzes home sales data from ATTOM Data Solutions to determine the share of real estate investor purchases among all home sales, the median price for investor home sales compared with consumer home sales, and the share of cash sales among investor purchases.

Year-over-Year Gains for Townhouse Construction

Eyes on Housing

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction in the third quarter of 2021 continued to show year-over-year construction increases.

Flagstar is banking on the private-label market

Housing Wire

Alessandro P. DiNello, president and CEO of president at F lagstar Bancorp. Flagstar Bancorp. has been on a tear in 2021 when it comes to pursuing private-label securitizations, with 13 deals backed by some 22,000 home loans valued at $8 billion now under its belt through mid-November of this year.

Blend and PRMG Extend Their Partnership

Appraisal Buzz

Mortgage banker will benefit by streamlining its operations through Blend’s digital offerings. The post Blend and PRMG Extend Their Partnership appeared first on theMReport.com. The post Blend and PRMG Extend Their Partnership appeared first on Appraisal Buzz. Around The Web