Sat.May 07, 2022 - Fri.May 13, 2022

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The housing market has shifted

Sacramento Appraisal Blog

The housing market has shifted over the past month. That’s what the stats are showing, and it’s what we’re hearing from the trenches. Today I want to highlight what’s been happening in Sacramento, and unpack what I mean by “shift” too since this word can be sensationalized. If you’re not local, what are you seeing […].

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Think US home prices are high? At least we aren’t Canada

Housing Wire

Home prices in the U.S. have been skyrocketing since 2020, however, I often like to remind people that no matter how crazy home-price growth is in America, at least we aren’t Canada. When it comes to home prices — and especially home prices compared to income — our neighbors up north are like Godzilla to our gecko. Over the weekend, I tweeted several charts, showing people the big divergence between home price growth and real disposable income in the two countries.

Buyers 527
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Delegate, Delegate, Delegate!

The Appraiser Coach

I was in a group meeting recently where we were talking with small business owners and trying to help them with some of the problems they were facing. One. Read More.

Business 369
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Copacabana? No Silly, It’s Cubicasa!

Cleveland Appraisal Blog

Have you been to the Copacabana? Perhaps you’ve been to the Copacabana nightclub in New York City, made popular by Barry Manilow’s song Copacabana in 1978. Of course, the original Copacabana is a vacation destination in Rio De Janeiro, South America. Both are places where people go to have a good time enjoying music, food, and beautiful beaches in the case of the South American location.

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Protected: The Future of CRE Cash Flow Modeling & Valuation Technology

Appraisal Buzz

This content is password protected. To view it please enter your password below: Password: The post Protected: The Future of CRE Cash Flow Modeling & Valuation Technology appeared first on Appraisal Buzz.

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Almost 45% of homeowners are now equity rich

Housing Wire

Soaring home prices continue to serve existing homeowners, with nearly 45% of all property owners now considered equity rich, a year-over-year jump that boosted 13% more homeowners into the prime position. A homeowner is considered equity rich when they have at least 50% equity in their home, a feat more easily accomplished when skyrocketing home price appreciation widens the gap between what someone owes on their mortgage and the value of their house.

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Building Materials Prices Move Higher, Up 19% Year-over-Year

Eyes on Housing

According to the latest Producer Price Index (PPI) report released today by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 0.5% in April, following upwardly revised increases of 1.9% and 2.4% in March and February, respectively. This adds up to an 4.9% increase in building materials prices since the start.

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Learning from the Mistakes of Others

Appraisal Buzz

Today’s Buzzcast interview is with Mel Black, Certified Residential Appraiser, Licensed real estate broker, and McKissock Learning’s Director of Appraisal Innovation. We sat down with Mel and Jim Morrison, VP of Marketing and Sales for Allterra Group, to discuss appraisal disciplinary cases and how appraisers can learn from them. What is your background in the appraisal industry?

Valuation 195
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Mortgage applications rise despite higher rates

Housing Wire

Prospective homebuyers aren’t deterred by the skyrocketing mortgage rates amid a slow start to the spring home-buying season this year. The Market Composite Index, a measure of loan application volume, rose 2 percent on a seasonally adjusted basis for the week ending May 6, from the previous week, according to the Mortgage Bankers Association. Conventional, Federal Housing Administration (FHA) and Veterans Affairs (VA) purchase loan application volume led the gain in mortgage application volume

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Occupational Licensing Used to Intimidate

Appraiserblogs

It provides no better illustration of how occupational licensing promotes groupthink and intolerance to differing viewpoints… CALIFORNIA: WHERE RIGOROUS INQUIRY GOES TO DIE It smothers innovation and silences debate. These have been principal criticisms of occupational licensing over the years, and nowhere is innovation and debate under greater attack than in California.

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Banks Report Weaker Demand for Home Loans

Eyes on Housing

In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans. “Significant” net shares of banks reported weaker demand for all RRE loan categories other than subprime.

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Panorama Mortgage Integrates Vision Mortgage into Brand Group

Appraisal Buzz

Vision Mortgage Group has joined Panorama Mortgage Group (PMG), a multi-brand national mortgage company headquartered in Nevada. Mark Charlton will lead the company as president. Vision Mortgage Group is focusing on expanding homeownership opportunities across the country and will be leveraging PMG’s mortgage platform to accomplish that goal. “We’re thrilled to be welcoming Mark to our organization and look forward to his leadership as we continue to grow and evolve,” say

Mortgage 170
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The current challenges to increasing the homeownership gap

Housing Wire

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. Bringing together some of the top economists and researchers in housing, this event will provide an in-depth look at their latest insights on the housing market, along with a roundtable discussion on how this information applies to your business.

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Divorcing? What You Need to Know About Property Division After Divorce

D Fritz Appraisals

Know Your Rights About Splitting Property After Separation. How is a house divided in a divorce? That’s the question we’ll answer in this blog post as well as many other questions about splitting assets after separation. . Everyone feels the need to find that special someone to share their life with. Deep and meaningful connections, whether it’s intimate or platonic, are what make the world a better place.

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Latest Interest Rates Signal Significant Declines in Affordability

Eyes on Housing

Housing affordability in the first quarter of 2022 looks starkly different depending on the interest rate assumed in the calculation. The average mortgage interest rate for the quarter was 3.86%. But by the end of April, it was 5.11%. If the former is used, then housing affordability shows a modest gain in the first three months of the year, driven.

Mortgage 175
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Otmane Laassel: How Mortgage Lenders Can Serve the Underserved

Appraisal Buzz

PERSON OF THE WEEK: As the mortgage industry and its regulators strive to bring homeownership to more borrowers throughout the country, many lenders are working hard to find the best way to serve their lower-income clients and ensure they do not get left out in the current market, while still lending responsibly. Otmane Laassel, branch manager and senior loan consultant at the Homespire Mortgage branch in Shady Grove, Maryland, recently spoke with MortgageOrb about.

Mortgage 170
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loanDepot reports loss of $91.3M in Q1

Housing Wire

Nonbank heavyweight loanDepot reported an unprofitable quarter largely due to a steep decline in origination volume and expense reductions that did not keep up with the rapidly changing environment. The firm said it doesn’t expect to have a profitable fiscal year, citing pressures on margins and lower market volume. . The California-based company reported a net loss of $91.3 million in the first quarter, compared to a net income of $14.7 million from the previous quarter.

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7 Excellent Real Estate Appraisal Podcasts Every Appraiser Should Listen To

McKissock

How do you stay up-to-date on the latest appraisal news and trends? Podcasts are a great source of industry information and insights. They’re also entertaining and super convenient since you can stream them during your morning commute or while you’re driving to appraisal appointments. Whether you listen in your car or at your desk, here are seven excellent appraisal podcasts to check out. 1.

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Inflation Slows from 40-Year High in April

Eyes on Housing

Consumer prices increased at a somewhat slower pace in April, the smallest monthly increase since August 2021, though inflation remains near a 40-year high. The food at home and shelter index rose at their fastest pace since November 1980 and April 1991. Though gas prices have fallen from their March highs, the pace of inflation will likely stay high in.

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Gen Z Buyers Represent a ‘Growing Splash’

Appraisal Buzz

Leveraging data from 890,000 unique users, LendingTree has released new research on Generation Z from the 2021 calendar year on where they are most likely to move to after graduating and leaving home. Generation Z, born between 1997-2012 and now aged 18-24, is beginning to see its first wave of homebuyers and by all available data, … The post Gen Z Buyers Represent a ‘Growing Splash’ appeared first on DSNews.

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First-time homebuyers feeling squeezed out of the market

Housing Wire

Budget-tightening constraints of inflation, higher mortgage rates, and housing price gains are constraining consumers from buying houses. Fannie Mae ‘s Home Purchase Sentiment Index, which tracks the housing market and consumer confidence to sell or buy a home, dropped by 4.7 points to 68.5 in April, marking the lowest level since May 2020. Compared with the same period in 2021, the HPSI is down 10.5 points.

Marketing 382
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5 Ways Transportation Teams Win With GoFormz

GoForrmz

Digital forms and solutions are critical for modern transportation teams Transportation is a tough job, and the industry is approaching its toughest week of the year: International Roadcheck. This is a 72-hour event with increased inspections all throughout North America. It's one of four safety initiatives for 2022 created by the Commercial Vehicle Safety Alliance (CVSA).

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The Nation’s Stock of Second Homes

Eyes on Housing

According to NAHB estimates, the total count of second homes was 7.15 million in 2020, accounting for 5.11% of the total housing stock. This represents the most recent data available. As of 2020, the state with the largest stock of second homes was Florida (1.04 million), accounting for 10.8% of all second homes. South Dakota had the smallest stock, approximately.

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Fed Chair Powell Confirmed by Senate for Second Term

Appraisal Buzz

By an 80-19 vote, Jerome Powell has been confirmed as Chairman of the Federal Reserve Board by the U.S. Senate. The post Fed Chair Powell Confirmed by Senate for Second Term appeared first on DSNews. The post Fed Chair Powell Confirmed by Senate for Second Term appeared first on Appraisal Buzz.

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When will housing inventory recover?

Housing Wire

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. Bringing together some of the top economists and researchers in housing, this event will provide an in-depth look at their latest insights on the housing market, along with a roundtable discussion on how this information applies to your business.

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Why Most Americans Say They Don’t Like Neighbors

Empire Appraisal Group

Why Most Americans Say They Don’t Like Neighbors. Source: Why Most Americans Say They Don’t Like Neighbors | Florida Realtors. Lending Tree survey: 75% say they dislike at least one of their neighbors, either due to noise, rudeness, problem pets, messy yards or ‘weird vibes.’. CHARLOTTE, N.C. – Many Americans say they aren’t happy with their neighbor, whether it’s due to “weird vibes,” noise or rudeness, finds a new survey of more than 1,500 consumers from LendingTree.

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Mortgage Activity Up in ARMs

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) latest month’s surveys (the week ending May 6), the 30-year fixed-rate mortgage (FRM) rate rapidly grew to 5.53%, marking the steepest interest rate increase on record. The Market Composite Index, a measure of mortgage loan application volume, increased by 2% on a seasonally adjusted basis from one week earlier, despite a general downward trend. .

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Bankruptcies Down Over 20% YoY

Appraisal Buzz

Epiq, an Atlanta-based provider of intelligence to the legal services industry, has released its April 2022 bankruptcy filing statistics from its new Bankruptcy Analytics platform which found that filings decreased by 10% last month representing 32,508 filings of all types, down from the 36,059 seen in March, but up from the 26,985 seen in February, and 26,149 … The post Bankruptcies Down Over 20% YoY appeared first on DSNews.

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Caliber sues CrossCountry after 80 employees left for rival

Housing Wire

Texas-based multichannel lender Caliber Home Loans is accusing Ohio-based CrossCountry Mortgage of executing an “illegal scheme of unfair competition” by targeting its employees, stealing trade secrets and diverting customers. The accusations are part of a lawsuit filed in May in the U.S. District Court for the Western District of Washington in Seattle.

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ProTip: Use Image Fields to Document Job Site Hazards

GoForrmz

Take the hassle out of job site hazard documentation by adding an Image field to your forms Nobody wants to think about the realities of on-site work hazards, but failure to properly document them can cause even more headaches. The Occupational Safety & Health Administration (OSHA) is one of the groups responsible for ensuring proper measures are taken to reduce workplace accidents.

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Consumer Credit Increases in First Quarter

Eyes on Housing

In the first quarter of 2022, non-real estate secured consumer credit, per the Federal Reserve’s latest G.19 Consumer Credit report, grew at a seasonal adjusted annual rate of 9.7%, with revolving debt growing at 21.4% and nonrevolving at 6.1%. Total consumer credit currently stands at $4.5 trillion, with $1.1 trillion in revolving debt and $3.4 trillion in non-revolving debt.

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HUD Expands Its Eviction Grant Program

Appraisal Buzz

An additional $20 million has been made available by HUD to 11 non-profits and governmental entities who provide legal assistance to low-income tenants at-risk of or subject to eviction. The post HUD Expands Its Eviction Grant Program appeared first on DSNews. The post HUD Expands Its Eviction Grant Program appeared first on Appraisal Buzz.

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United Wholesale Mortgage Q1 profits up 89% despite lower production

Housing Wire

The nation’s largest wholesale lender, United Wholesale Mortgage (UWM), in the first quarter of 2022 posted an increase in margins and profits over the prior quarter, increasing its purchase volumes to record levels. But the Pontiac, Michigan-based lender’s total loan production fell during the same period, reflecting a shrinking mortgage market. .

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ProTip: Show Or Hide Fields Based On Form Ownership

GoForrmz

Leverage Calculations with Dynamic Field Properties to make specific fields Hidden/Visible and easily guide user data entry Did you know that Automatic Calculations can do more than just populate numbers? In fact, there are numerous instances where Calculations are leveraged to automatically populate form data for users to guide user entry, ensure data integrity, expedite form completion processes, and much more!