Sat.Jul 24, 2021 - Fri.Jul 30, 2021

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Susan Rice to co-chair HUD appraisal task force

Housing Wire

The interagency task force to combat inequity in appraisals, led by Housing and Urban Development Secretary Marcia Fudge, will be co-chaired by former United Nations ambassador Susan Rice. A former national security advisor in the Obama administration, Rice now chairs President Joe Biden’s Domestic Policy Council , which has broad authority to further the president’s domestic agenda.

Appraisal 545
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Has the housing market peaked this year?

Sacramento Appraisal Blog

Are prices finally starting to slow? Can it really be happening? Has the housing market likely peaked for the year? The answer is YES. Here are two quick things on my mind. These trends are for the Sacramento region, but I suspect many markets across the country are starting to show similar stats (or will […].

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CFPB/FHFA Poll Examines Pre-Pandemic Borrow Experience

Appraisal Buzz

Officials say the data provides a baseline for mortgage market trends and consumer sentiment about the origination process prior to COVID-19. The post CFPB/FHFA Poll Examines Pre-Pandemic Borrow Experience appeared first on theMReport.com. The post CFPB/FHFA Poll Examines Pre-Pandemic Borrow Experience appeared first on Appraisal Buzz.

Appraisal 370
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How to Stop Wasting Time on Spam Calls

The Appraiser Coach

Your phone rings, it’s a local number and you answer right away. Afterall, it could be an appraisal order from a new customer, a potential homeowner, a local bank, or. Read More.

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The homebuyer journey is changing – So should you

Housing Wire

The 2021 RealTrends Gathering of Eagles real estate conference captured our attention when the role and future of the real estate transaction process for a homebuyer were lively debated. Big players such as Zillow, Redfin, Compass… etc. claim dominance. We examine the need for complete vendor-provided software solutions vs. building in-house. We watch as consolidation transpires all-around.

Brokerage 545
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Why Didn’t You Use This Comparable?

George Dell

Reviewers ask why a certain sale was not used as a comparable. Why don’t they know I already used the best comps, just like I was taught? Don’t they know I used what was competitive, similar, and “able to be compared” – Just like The Appraisal of Real Estate 15th ed. says: A good comparable […]. The post Why Didn’t You Use This Comparable? appeared first on George Dell, SRA, MAI, ASA, CRE.

More Trending

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Housing Nearly 17% of GDP

Eyes on Housing

Thanks to a surge in residential investment during 2020, housing’s share of GDP remains elevated compared to recent years. Last year’s market conditions involved a renewed focus on the importance of home, an evolving geography of housing demand, and a lack of for-sale inventory. Housing will continue to expand in 2021, although as the rest of the economy recovers, the.

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How Delta variant may impact housing market

Housing Wire

The following Q&A comes from the HW+ exclusive Slack channel, where HousingWire’s Lead Analyst Logan Mohtashami answered questions on what to make of the latest housing data, his forecast for the rest of this year, and whether or not the housing market is returning to normal. He also addresses how he foresees the Delta variant impacting the housing market.

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What goes into an appraised value?

Midtown Appraisal Group

It’s not just a comparison to the house next door. It happens to every appraiser, often once a week: Someone involved in the property buying and selling process says something like “Yeah, this appraisal won’t be that hard. The house across the street sold a month ago and it’s pretty much the same layout, so […].

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CoreLogic Collaborates with Paradatec on HMDA Reporting Tool

Appraisal Buzz

Paradatec , an AI-based document classification and data extraction technology company for mortgage loan processing, is joining CoreLogic to support CoreLogic HMDA Check, a loan auditing tool that leverages automation to help lenders comply with the Home Mortgage Disclosure Act (HMDA). CoreLogic is a global property information, analytics and data-enabled solutions provider.

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Prospective Buyers Continue to Turn into Active Buyers

Eyes on Housing

Of the 17% of American adults considering a future home purchase in the second quarter of 2021, 61% have moved beyond planning and are already actively trying to find one to buy. This share of active buyers has increased for six straight quarters, a trend that began after the final quarter of 2019 when it stood at 43%. In the.

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Are we back to a normal housing market?

Housing Wire

In the last few months in my articles for HousingWire, I have written that monthly supply has been rising and that this increasing supply was the most critical metric for the housing market, specifically the new home sales market. According to the recent Census report, the three-month average is now at 5.53 months , which puts inventory right back into the range we had in the previous expansion.

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July Newsletter – Are prices falling?

DW Slater Company

Photo by Tasos Mansour on Unsplash. On Sunday night we saw a bright fireball falling from the sky. It was a meteor and many others in North Texas witnessed it fall and then explode when reaching the earth’s atmosphere. It was unexpected and beautiful. As a skywatcher, I was happy to have observed it. So are prices started to fall? Is more balance coming to the market?

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President Biden Pushes for Eviction Moratorium Extension

Appraisal Buzz

President Joe Biden on Thursday urged Congress to extend the eviction moratorium, set to expire Friday, also calling on the U.S. Departments of Housing and Urban Development, Agriculture, Veterans Affairs, local municipalities, and other agencies to do the same. The Biden Administration cannot enact an extension on its own due to a recent Supreme Court … The post President Biden Pushes for Eviction Moratorium Extension appeared first on DSNews.

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Buyers’ Perceptions of Housing Inventory Deteriorate

Eyes on Housing

In the first quarter of 2018, the starting point of the Housing Trends Report (HTR), only 16% of buyers expected easier availability for a home in the months ahead. The share soared to 36% by the final quarter of 2020 (during the COVID-19 pandemic), but then went on to decline to 33% and 28%, respectively, in the first two quarters.

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Could online mortgage lenders reduce discrimination against Black homebuyers?

Housing Wire

The housing market is red hot. The Federal Housing Finance Agency house-price index rose 12% last year due to low inventories and high demand. Redfin , the popular real estate website, reports that nearly 40% of homes in the past month have sold above asking price. And the National Association of Realtors reported that, for the first time in a generation, housing prices rose in each of the 181 metro areas it tracks at the end of last year.

Mortgage 495
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FAQ: What are Not In Good Order (NIGO) forms?

GoForrmz

Eliminate opportunities for incomplete forms, inaccurate data, and costly mistakes What are Not In Good Order (NIGO) forms? Not In Good Order Forms (NIGO) are documents that are missing information, completed incorrectly, or contains inaccurate information. Although NIGO forms may simply sound like a nuisance, they can be incredibly costly and problematic for many operations, especially those handling compliance measures and personal information.

Business 158
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White House Calls On Lawmakers to Renew Eviction Ban

Appraisal Buzz

President Biden turns to Congress and other agencies for support in extending expiring renter and homeowner protections. The post White House Calls On Lawmakers to Renew Eviction Ban appeared first on theMReport.com. The post White House Calls On Lawmakers to Renew Eviction Ban appeared first on Appraisal Buzz.

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Second Quarter of 2021 Homeownership Rate at 65.4%

Eyes on Housing

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate declined to 65.4% in the second quarter of 2021. Compared to prior reports, the data was affected less significantly by the pandemic, since in-person interviews were back in 99% of the sample area. The national homeowner vacancy rate stayed at a record low of 0.9%, while the rental.

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5 steps to choosing a home that will appreciate

Housing Wire

In 2020, the S&P CoreLogic Case-Shiller price index reported the highest annual housing growth since 2013. Due to low inventory, sellers are able to put their homes up at a higher rate. And with today’s low interest rates, buyers have been rushing to purchase what’s available. The problem is, rushing to buy property might force you to settle for a house that won’t reward you financially.

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3 Ways Today’s Insane Seller’s Market Is Actually Bad for Home Sellers—and How To Survive It

Realtor

In today's seller's market, desperate homebuyers will do just about anything to buy your home. This is good news for sellers, but does come with risks. The post 3 Ways Today’s Insane Seller’s Market Is Actually Bad for Home Sellers—and How To Survive It appeared first on Real Estate News & Insights | realtor.com®.

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SitusAMC Announces Partnership With String

Appraisal Buzz

New collaboration brings title services under the SitusAMC banner and expands the company’s India division. The post SitusAMC Announces Partnership With String appeared first on DSNews. The post SitusAMC Announces Partnership With String appeared first on Appraisal Buzz.

Appraisal 370
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Perceptions of Housing Affordability Worsen

Eyes on Housing

In the final quarter of 2019, a series-high of 82% of prospective buyers could afford less than half the homes available in their markets. The share went on to decline throughout 2020 (i.e. affordability perceptions improved), reaching 63% by the final quarter of that year. But affordability expectations have worsened recently. In the first and second quarters of 2021, the.

Buyers 172
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Biden administration prioritizes cybersecurity as fraud risks grow

Housing Wire

As the Biden administration recently spotlighted , cybersecurity remains a high-level concern for the privacy and security of Americans. In fact, the FBI’s Internet Crime Complaint Center (IC3) has experienced a record number of reported complaints as of late, jumping from 5 million logged complaints as of March 12, 2020, to 6 million as of May 15, 2021.

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Back to School Drive: Paying it Forward in the Community

GoForrmz

GoFormz puts an emphasis on education with ‘Back to School Drive’ for students impacted by homelessness It’s that time of year again…back to school! As many families, teachers, and students all start preparing to go back to school, so are our friends at the Monarch School. This is a school that we support here in our San Diego community. The Monarch School is a program that is dedicated to helping homeless students break the cycle of poverty through education and helps develop hope for a future

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Greer Allgood: The Big Tech Giants Have ‘Paved the Way’ to Current Borrower Expectations

Appraisal Buzz

The shift to an all-digital, online and “contactless” mortgage process – propelled by the pandemic – has forever altered borrowers’ expectations. While there will always be a need for human interaction in the mortgage process, the industry is gradually shifting toward automating as many pieces of the process as possible. This means borrowers are now evaluating lenders on two fronts: The quality of the live human interaction they provide and how well their technology.

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GDP Back to Pre-Pandemic Level

Eyes on Housing

In the second quarter of 2021, real GDP surged and returned its pre-pandemic level as the economy continued to reopen. This quarter’s growth reflected strong gains for consumer and state and local government spending. However, the second quarter gain did come in below consensus estimates. According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross.

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Fannie & Freddie forbearances drop to 1.81%

Housing Wire

Another week, another drop in forbearance volume. Servicers’ forbearance portfolio volume fell two basis points to 3.48% from 3.50% last week, according to a survey from the Mortgage Bankers Association. Approximately 1.74 million homeowners are in forbearance plans, the MBA reported. The share of Fannie Mae and Freddie Mac loans in forbearance also decreased two basis points to 1.81%, and Ginnie Mae loans decreased one basis point to 4.35%.

Finance 460
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How the Ohio COVID-19 Tax Relief Reduces Your Commercial Property Value

The Robert Weiler Company

Every six years, commercial property owners in Ohio face a reassessment of their property values conducted by their local County Auditor’s office. Typically, owners can only contest these values once every three years. But we all know that 2020 was anything but typical. Regular property tax contests are valued as of January 1 of the tax year in question.

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LO Commissions Down in Q2

Appraisal Buzz

Despite a surge in volume, loan originator commissions dropped in the second quarter of 2021. The post LO Commissions Down in Q2 appeared first on theMReport.com. The post LO Commissions Down in Q2 appeared first on Appraisal Buzz.

Appraisal 370
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Federal Reserve and Housing: No Taper Talk Yet

Eyes on Housing

Today’s Federal Open Market Committee announcement did not provide an explicit reference to an expected tapering of purchases of Treasury ($80 billion a month) and mortgage-backed ($40 billion a month) securities. In addition, as part of its ongoing accommodative policy stance, the Fed held its benchmark target rate near zero percent. In Chairman Powell’s press conference remarks, he stated, “The.

Mortgage 158
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Oakland homeowner alleges appraiser bias

Housing Wire

An Oakland homeowner says the home valuation process failed her due to the color of her skin, according to a complaint filed with U.S. Department of Housing and Urban Development. Cora Robinson, who is Black, claims that appraiser Thomas Kearney violated the Fair Housing Act by undervaluing her home by over $400,000. Kearney’s valuation, the complaint claims, is based on comparing Robinson’s abode to far-flung Black-owned homes in Oakland instead of white-own domiciles in the surrounding neighbo

Appraisal 446
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Neutral, Unbiased, & Not an Advocate for any Party

Appraiserblogs

Not because they are racist, or because they are biased… but because they feel they can no longer be that “independent, neutral” voice that we have always been counted on to be… The issue of declining an assignment based on the homeowner’s race has come up among appraisers. I believe the core issue is one of Appraiser Independence. How many of us have arrived at a property to have an agent or homeowner make comments that caused us to reconsider whether we should proceed?

Appraisal 145
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CFPB Tool Supports Struggling Households, Property Owners

Appraisal Buzz

The bureau says this innovation will expedite allocation of much-needed rental assistance funds as the eviction-ban expiration approaches. The post CFPB Tool Supports Struggling Households, Property Owners appeared first on theMReport.com. The post CFPB Tool Supports Struggling Households, Property Owners appeared first on Appraisal Buzz.

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