Sat.Jun 18, 2022 - Fri.Jun 24, 2022

What It Takes to Be An Expert Appraisal Witness in An Eminent Domain Case

Cleveland Appraisal Blog

Hello everyone! I normally don’t post more than one article per week. This week I have a bonus article for my appraisal colleagues who are interested in becoming expert appraisal witnesses in eminent domain cases.

Maintain that Workfile

Appraisal Buzz

Real property appraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in real property appraisal is cause for concern.

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A spike in listings & sitting on the market

Sacramento Appraisal Blog

The pile of listings is growing, and it’s taking longer to sell. That’s what so many housing markets across the country are experiencing right now. We’re on the cusp of seeing some real change in the stats over the next few months. Here are some things on my mind. Anything to add?

The savagely unhealthy housing market is now a nightmare

Housing Wire

The housing nightmare continues. The National Association of Realtors (NAR) reported that existing home sales for April came in at 5.41 million , down 3.4% from the previous month and 8.6% from last year. But, the savagely unhealthy data line was that home prices are up 14.8%.

7 Home Security Tips for Spring & Summer

Cleveland Appraisal Blog

Hello! I hope your spring has been fantastic! It’s hard to believe that we are nearly to summer! This week I welcome back guest blogger Betty White with some tips on home security for the spring and summer months. Enjoy! Alt-tag: Home that is safe and secured for the spring.

The Impact of New Technology in the Appraisal Industry

Appraisal Buzz

[link]. Today’s Buzzcast interview is with Jeff Allen, President of Cubicasa and Nikki Rinkus, Staff appraiser from Clario.

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Opinion: Title insurance is vital to protecting the American dream

Housing Wire

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives.

Where is Your Focus?

The Appraiser Coach

While getting ready for a big trip with my wife, I found myself in my home office working some odd hours. I was in the zone, cruising through my to-do. Read More.

Mortgage Payments Outpace Rent in Majority of U.S. Metros

Appraisal Buzz

Inflating mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable than at any time since at least 2007.

How Can Appraisers Dress in This Heat?

DW Slater Company

It’s summer and in some parts of the country it is getting very hot! Here in North Texas we have been in a heat wave , that seems to have no end in sight. Every day this week heat advisories have been issued and it can be challenging to be out in it.

UWM drops rates 50 to 100 basis points in bid for brokers

Housing Wire

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, wants to beat rival lenders by offering competitive pricing to brokers, a move designed to navigate a shrinking mortgage market with compressed margins.

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Existing Home Sales Slow Again While Prices Surge

Eyes on Housing

As rising mortgage rates and higher home prices continued to price out homebuyers, existing home sales declined for four consecutive months, according to the National Association of Realtors (NAR). However, the trend in home price appreciation continued as supply remained tight.

New Home Sales Rebounded in May

Appraisal Buzz

After tumbling more than 16% in April, new home sales rebounded in May, rising 10.7% to reach a seasonally adjusted annual rate of 696,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. . However, new home sale were down 5.9%

[National Safety Month] How To Prioritize 'Lone Worker' Safety

GoForrmz

Are you doing all you can to keep your ‘Lone Workers’ safe? As job site safety continues to be a hot topic across all industries, there’s one group that still notes situational uneasiness and lack of safety measures: Lone workers.

PIMCO-backed FGMC lays off most staffers

Housing Wire

Mortgage lender First Guaranty Mortgage Corporation cut about 80% of its workforce on Friday and has stopped accepting new mortgage applications, HousingWire has learned. Former employees said the lender has “essentially shuttered.”

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New Home Sales Increase in May Before Fed’s June Rate Rise

Eyes on Housing

After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate hike.

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Cosmetic Factors Affect Home Selling Points

Appraisal Buzz

A statement-making front door can boost a home’s curb appeal and its value according to new research from Zillow, finding that homes with slate blue or black front doors appeal to more recent and prospective buyers —potentially selling for a higher price.

6 TED Talks Every Real Estate Agent Should Watch

McKissock

Being a real estate agent can be really hard. It consists of long days, fickle clients, failed closings, and so much more. But it’s also highly rewarding.

JPMorgan Chase starts to cut mortgage jobs

Housing Wire

JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%.

One in Three Workers in Construction Is Hispanic

Eyes on Housing

Hispanics are an important source of labor in the U.S. construction industry, where skilled labor shortage is a long-term issue. One in three workers in the US construction industry is Hispanic.

The Week Ahead: Narrowing the Homeownership Divide

Appraisal Buzz

The Urban Institute will partner with the National Housing Conference to present an in-person conference in D.C. exploring the racial homeownership gap, including the lack of affordable housing, and fair access to quality credit.

2 of 3 Fla. Homes on Market Less than 30 Days

Empire Appraisal Group

2 of 3 Fla. Homes on Market Less than 30 Days. By Erica Plemmons. Florida Realtors economist : In 1Q 2022, half of new Fla. listings went under contract in 12 days – but look beyond that one statistic to see the shift in market speed.

New home sales beats estimates, but what does it mean?

Housing Wire

New home sales beat the headline estimates and had positive revisions. How on earth did that happen? Not only that, the monthly supply data was revised lower from nine months to 8.3 months for the previous report. Let me tell you, we had a lot of shocked faces in economic land this morning.

Employment Situation in May: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 32 states and the District of Columbia in May compared to the previous month while 18 states lost jobs.

Homebuyer Demand Slips as Mortgage Rates Approach 6%

Appraisal Buzz

Homebuying demand pulled back further as mortgage rates reached their highest level in over 13 years, according to a new report from Redfin. Mortgage rates near 6% have put a big chill on demand for homes,” said Redfin Chief Economist Daryl Fairweather.

Zillow: Economists say hot housing market ‘not a bubble’

Valuation Review

As home prices continue to break records, a panel of housing experts and economists surveyed by Zillow does not believe the market is in a bubble.

Purchase mortgage apps defy surging rates

Housing Wire

Despite mortgage rates reaching the highest level in 14 years, mortgage applications increased 4.2% from the prior week, according to the latest Mortgage Bankers Association (MBA) survey for the week ending June 17.

Where Does Water Frontage End?

McKissock

Does your subject property really front on the water? You might remember a case that made national news some time back involving a six-foot-high pink stockade fence erected between several houses and a small lake (actually just a large retention pond).

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Single-Family Home Inventory Up YoY in May

Appraisal Buzz

Despite housing inventory falling slightly to a 7.7 months’ supply month-over-month, the nation’s supply was up 34.5% over last May, with 444,000 units available for sale. The post Single-Family Home Inventory Up YoY in May appeared first on DSNews.

Veteran appraiser reminds everyone ‘mastering the basics’ is essential

Valuation Review

Valuation Review reached out to appraiser Matt Simmons, who in his article “Don’t Start Driving Until You Know Where You’re Going,” shared some of the ignored basics for appraisal success. Flashy” upgrades to one’s skills won’t matter if the foundation of work isn’t solid, he points out.

Flagstar reports data breach affecting 1.5 million clients

Housing Wire

Hackers stole the personal information of 1,547,169 clients of Michigan-based Flagstar Bank in December, according to a document sent by the financial institution to the Office of the Maine Attorney General. The cyberattack occurred on Dec. 3 and Dec.

Songs for a Successful Open House

McKissock

It’s no surprise that music makes a significant impact on our moods. Specific songs can excite fans before a big sporting event, relax people in stressful situations, or inspire people to dance, create — or even buy.

New Home Sales Pick Up Strength in May

Appraisal Buzz

Sales of new single?family family homes in May came rose to 696,000, a 10.7% month-over-month rise of April’s recorded total of 629,000. The post New Home Sales Pick Up Strength in May appeared first on theMReport.com. The post New Home Sales Pick Up Strength in May appeared first on Appraisal Buzz.

BBG expands Sun Belt region

Valuation Review

BBG recently expanded its presence in the Sun Belt region with the acquisition of Florida and Texas appraisal firms. Terms of the acquisitions were not disclosed. Read on to learn more