Sat.Jun 26, 2021 - Fri.Jul 02, 2021

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Housing inventory is about to get better — here’s why

Housing Wire

With the July 4th weekend nearly upon us, it’s time to reflect all that we have been through in the past year and how, as a country, we have overcome so many daunting obstacles, including what we have been through in the housing market. The first thing that pops into my shriveled brain is how the housing market looked in February of 2020. Data from that month showed that housing was breaking out — but because we received this data in March of 2020, we were all too busy trying to survive to take

Inventory 541
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Lumber prices, bias, & slowing in the housing market

Sacramento Appraisal Blog

I’ve got a few things on my mind today. Some light stuff and some deep stuff. Let’s talk about lumber, food in listings, that leaning building in San Francisco, bias in valuations, and a slowing vibe in the housing market. Skim topics or digest slowly. 5 THINGS ON MY MIND 1) Lumber is lower (sort […].

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Keeping the American Dream Alive

Appraisal Buzz

With the housing market booming but suffering from widespread inventory shortages, MReport examines how the industry can help guide more borrowers around the obstacles and toward their goal of homeownership. The post Keeping the American Dream Alive appeared first on theMReport.com. The post Keeping the American Dream Alive appeared first on Appraisal Buzz.

Inventory 370
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Be Nice or Be Quiet

The Appraiser Coach

Back in the 1980’s an American minister by the name of Robert Fulghum published a series of essays in a book titled All I Really Need To Know I Learned. Read More.

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Ginnie Mae unveils 40-year mortgage term for issuers

Housing Wire

Ginnie Mae is set to introduce a new 40-year mortgage term for its issuers on the heels of administrative shake ups at the top of the housing industry. Only loans with terms greater than 361 months and less than or equal to 480 months will be accepted, but there will be no loan amount restriction, Ginnie Mae said. The mortgage-bond giant said it expects the new pool to be available in October.

Mortgage 536
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Why Do I Teach Only Data Science?

George Dell

Data science is new ways of thinking, new tools, computation, and visualization. For valuation, it is simply optimizing the best of appraiser judgment and computer power. Traditional appraisal theory is good. It is a subset of economic theory. What is different is the available data and algorithms to select and predict from that data. Also […].

Valuation 195

More Trending

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Home Buyers Want Energy Efficient Windows

Eyes on Housing

Previous posts reported on home buyer preferences for kitchen and bath features, from NAHB’s recent study What Home Buyers Really Want, 2021 Edition. The same study also asked the panel of 3,247 recent and prospective home buyers to rate a dozen different window types and materials on the following four tier scale: The general window characteristic that home buyers value more.

Buyers 218
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Real estate brokerages embrace long-term remote work

Housing Wire

The Broadmoor Hotel in Colorado Springs, Colorado. Brokerage executives are elated to see each other in person again. So long as it’s temporary. “It’s a tremendous opportunity to reconnect with everyone,” said Susan Yannaccone , chief executive of Realogy’s franchise network since last November. “The intangible connection you can make with people face-to-face or over a cup of coffee.

Brokerage 538
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The Need For Speed; 14-Day Closes; APPRAISALS REMAIN THE PROBLEM

JMV Lending

REFI BOOM IS OVER BUT APPRAISER SHORTAGE REMAINS Interest rates remain about 3/8% to 1/2% higher than where they were at the end of last year. So, while they remain amazingly low, they are still high enough to staunch the refi explosion that was clogging up every lender’s pipeline last year. I personally looked forward […]. The post The Need For Speed; 14-Day Closes; APPRAISALS REMAIN THE PROBLEM appeared first on JVM Lending.

Appraisal 148
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Ginnie Mae Introduces New Payment Reduction Options

Appraisal Buzz

Through a new pool type, Ginnie Mae deepens its commitment to a balanced and equitable housing finance system. The post Ginnie Mae Introduces New Payment Reduction Options appeared first on DSNews. The post Ginnie Mae Introduces New Payment Reduction Options appeared first on Appraisal Buzz.

Finance 370
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Consumer Confidence Rises to Highest Level since March 2020

Eyes on Housing

Consumer confidence continued its upward trend and approached to pre-pandemic level in May, as consumers became more upbeat about the current and future economic conditions and job market. Though short-term inflation expectations increased, it had little impact on consumer confidence or spending intentions. The share of consumers planning to buy homes, cars, and major appliances all increased, suggesting consumers will.

Marketing 187
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June jobs report is great news for the housing market

Housing Wire

Hiring in the U.S. picked up steam in June, as employers added 850,000 jobs amid declining COVID-19 cases and a reopening economy, the Bureau of Labor Statistics reported on Friday. After a lackluster April and May, June’s employment gains totaled 100,000 more jobs than economists originally predicted. The gains were so great that some housing industry economists believe construction job gains could relieve housing market supply constraints.

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Being Liberal with Values Hurts Homeowners

Appraiserblogs

Why can’t it just be accurate instead of “conservative” or “liberal?” Just be precise in the way you do your job… Some people might say a public forum isn’t the place to air this dirty laundry, but this is not really a public forum. Of my thousands of readers, very few of them are not in real estate appraisal. Right now, I’m talking to the bad apples.

Legal 144
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A ‘Broader View’ of Home Price Changes

Appraisal Buzz

A home price index that covers the entire housing market, not just sales, offers a more complete measure of household wealth and equity, says the author of a new report. The post A ‘Broader View’ of Home Price Changes appeared first on DSNews. The post A ‘Broader View’ of Home Price Changes appeared first on Appraisal Buzz.

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With Just a Month Left of the Eviction Moratorium, Many Mom-and-Pop Landlords and Tenants Are Still Unaware of Federal Rental Assistance

Urban

New survey data found that many landlords and tenants are still unaware of the assistance, and confusion about how to access it abounds.

Tenants 165
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Mortgage rates dip back down to 2.98%

Housing Wire

The average 30-year fixed-rate mortgage fell four basis points from the week prior to 2.98%, according to data released Thursday by Freddie Mac ‘s PMMS. Within the past almost three months, mortgage rates have only peaked above 3% one time. “Economic growth remains steady and is bolstering more segments of the economy,” said Sam Khater, Freddie Mac’s Chief Economist.

Mortgage 493
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Job Gain Accelerates in June

Eyes on Housing

In June, total payroll employment rose by 850,000 and the unemployment rate was little changed at 5.9%. The June employment data shows strong growth momentum as more than 154 million people are fully vaccinated and COVID-19 restrictions on business are lifted. Residential construction employment increased by 15,200 in June, while nonresidential construction lost 22,600 jobs, following a decrease of 21,700.

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Monthly Home Prices Appreciate in Most Metros

Appraisal Buzz

The price of houses continues growing at a higher-than-normal rate, but some regions are experiencing “substantial slowdowns,” researchers report. The post Monthly Home Prices Appreciate in Most Metros appeared first on theMReport.com. The post Monthly Home Prices Appreciate in Most Metros appeared first on Appraisal Buzz.

Appraisal 368
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Be Nice or Be Quiet

Appraiserblogs

It’s never helpful for anyone to be mean. Even when we’re “anonymous” and hiding behind a keyboard, we need to be nice… Back in the 1980’s an American minister by the name of Robert Fulghum published a series of essays in a book titled All I Really Need To Know I Learned in Kindergarten. One lesson that we should have all learned back in kindergarten, or before, is to “be nice”.

Law 130
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Black Americans still face massive housing barriers

Housing Wire

Black Americans continue to face greater financial and generational barriers to homeownership than white Americans, with a recent study finding that only 45.1% of Black Americans bought or own their home as of the first quarter of 2021 — against 73.8% of white Americans. Per Redfin , 23% of white homeowners made no financial sacrifices to buy their first home, versus 14% of Black homeowners.

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How to Buy a Home Before Selling the One You Live In

Raleigh Realty

How to Buy a House Before Selling Your Home Ready to buy a home? If so, things can get a little complicated if you aren't a first-time buyer. After all, first-time buyers have the luxury of taking their time shopping for a home; when the right one comes along, they also don't have to worry about selling an existing home before they make an offer. If you're a current homeowner and are ready to relocate, there are some logistical and financial obstacles you'll need to overcome.

Logistics 128
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Homepoint Rolls Out New Service Model to Help Mortgage Brokers Capitalize on Purchase Market

Appraisal Buzz

Homepoint , the third-largest wholesale mortgage lender in the U.S., has introduced Homepoint Amplify, a new service model that combines localized support with Homepoint’s national platform to help mortgage brokers maximize efficiency and deliver a faster, more personalized customer experience in today’s purchase-focused market. . Under this new model, Homepoint will form regional support teams aligned with its six regions – Central, Northeast, Northwest, South, Southeast and Southwest.

Mortgage 360
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Low Appraised Value = Racial Bias?

Appraiserblogs

When the appraised value didn’t meet the sale price, the first assumption was that the appraiser conspired to lower the appraised value based on ‘race’ only. When interviewed by the TV reporter, the appraiser (off camera) was incredulous about that accusation… I’m getting tired of accusations of race bias in appraisals, which ALL have alleged the ‘low appraised value’ is caused by the presumed built-in systemic racial bias of the appraisers involved.

Appraisal 129
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House price increases still growing: FHFA

Housing Wire

The Federal Housing Finance Agency (FHFA) found that house prices across the nation rose 16% from April 2020 to April 2021. From March to April, house prices across the nation rose 1.8%, surpassing the previous month’s 1.6% increase. Three regions — the Pacific coast, the western states and New England — saw more pronounced year over year increases.

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[Press & News] Forbes Article Highlights Success of GoFormz Product-Led Growth Model

GoForrmz

GoFormz Product-Led Growth model highlighted in Forbes GoFormz was recently featured in a Forbes article, Four Keys To Product-Led Growth And Business Freemium Success , highlighting the success of our Product-Led Growth model. Authored by Matt Holleran, General Partner at Cloud Apps Capital Partners and GoFormz’s earliest investor, the article examines GoFormz as a case study for successful Product-Led Growth (PLG). “ The product is simple, beautiful and hassle-free. ” — Matt Ho

Investors 122
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Former Zillow Execs Launch Digital Homebuying Platform

Appraisal Buzz

Fintech startup Tomo seeks to provide fully-underwritten pre-approvals in hours and guaranteed on-time closings. The post Former Zillow Execs Launch Digital Homebuying Platform appeared first on theMReport.com. The post Former Zillow Execs Launch Digital Homebuying Platform appeared first on Appraisal Buzz.

Appraisal 352
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Increasing Diversity in the Appraisal Profession Combined with Short-Term Solutions Can Help Address Valuation Bias for Homeowners of Color

Urban

Addressing the lack of diversity in the appraiser industry could improve outcomes for Black and Hispanic communities.

Appraisal 139
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CFPB: lenders engaged in redlining, reported bad data

Housing Wire

The Consumer Financial Protection Bureau (CFPB) is tightening the screws on mortgage servicers and originators that violate consumer protection laws. The watchdog agency found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans.

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State-Level GDP in the First Quarter of 2021

Eyes on Housing

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the first quarter of 2021 compared to the last quarter of 2020. According to the U.S. Bureau of Economic Analysis (BEA), the percent change increase in real GDP ranged from 10.9 percent in Nevada to 2.9 percent in the District of Columbia. Nationwide, growth in.

Marketing 101
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CoreLogic Acquiring ClosingCorp

Appraisal Buzz

CoreLogic has inked a definitive merger agreement to acquire all outstanding shares of ClosingCorp, a company that provides intelligence and digital solutions that streamline the quoting and ordering of settlement services needed to originate and service mortgages. “ClosingCorp’s unique solutions, coupled with the property-level digital content and platforms of CoreLogic ,enable us to continue our rapid growth and accelerate the introduction of new high-demand products,” says Bob Jennings, Closi

Appraisal 352
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How to Create Digital Forms to Capture Electronic Signatures

GoForrmz

Seamlessly collect electronic Signatures using digital forms on phones, tablets, and computers Collecting signatures and authorizations is often made difficult by the time-consuming, manual nature of paper forms and rigid PDFs. With these outdated resources, teams often need to hand-deliver forms to job sites, customer locations, franchise locations, and back-offices, to collect a simple signature.

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Pending home sales reach highest May mark in 16 years

Housing Wire

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. The strong increase in home sales and transactions in May —following a dip in April — was a surprise, per Lawrence Yun, National Association of Realtors chief economist, who attributed the home sales increase to mortgage rates remaining below 3%, as well as an uptick, nationally, in listings. “Buyer

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The Loan Officer’s Guide to Appraisals Part 7:  How Can the Appraisal Process be Sped Up?

Riverfront Appraisals

For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals. If this is your first time visiting our blog, welcome! And, you’ll definitely […].

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FHFA Increases Post-Foreclosure and REO Eviction Moratoria Protections

Appraisal Buzz

Following rules implemented by the CFPB, the FHFA has taken action to further shelter homeowners from foreclosure and eviction actions by mandating increased consumer protections. The post FHFA Increases Post-Foreclosure and REO Eviction Moratoria Protections appeared first on DSNews. The post FHFA Increases Post-Foreclosure and REO Eviction Moratoria Protections appeared first on Appraisal Buzz.

Appraisal 317