Sat.Jan 13, 2024 - Fri.Jan 19, 2024

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Mortgage rates dip to 6.6% to mark the lowest level since May 2023

Housing Wire

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% as of Jan. 11, a decrease from last week’s 6.66%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

Mortgage 531
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The spring housing market is waking up & random stats

Sacramento Appraisal Blog

The spring market is awake. Today I want to talk about some trends I’m seeing, debunk a myth, and share some super random stats involving pickleball, Starbucks, and other stuff (sorry). Haha. UPCOMING (PUBLIC) SPEAKING GIGS: 01/31/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 02/01/24 Gateway Event (private) 2/09/24 PCAR WCR Event […] The post The spring housing market is waking up & random stats first appeared on Sacramento Appraisal Blog.

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Are Standards Credible?

George Dell

“USPAP” is for credible appraisers. The underlying principle of the actual ‘standards’ and the hundreds of pages of “explanatory” material is that the appraiser’s work must be “worthy of belief.” Accuracy and precision (trueness and sureness) are never stated as a goal. Believability, in turn, is judged by the user “expectations” and if “peers” would […] The post Are Standards Credible?

Appraisal 195
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Equity Angels launches to diversify proptech innovation

Inman

Kenya Burrell-VanWormer, chief growth officer at NEO, and Katherine Winston, founding member and head of marketing at Plunk, have teamed up to build a program that will provide professional mentorship for minority entrepreneurs in proptech.

Marketing 199
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California commission suit alleges collusion in the City of Angels

Housing Wire

Lights, camera, lawsuit! A copycat commission lawsuit has been filed in Los Angeles. The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home seller, accuses the real estate industry of colluding to artificially inflate real estate agent commissions. It was filed on Wednesday in U.S. District Court in Los Angeles. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit.

Realtors 533
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Remodeling Market Sentiment Improves in Fourth Quarter

Eyes on Housing

The NAHB/Westlake Royal Remodeling Market Index (RMI), a measure of sentiment among professional remodelers, for the fourth quarter posted a reading of 67, increasing two points compared to the previous quarter. Remodelers’ sentiment was quite positive at the end of 2023, when seasonally adjusted for the slowdown that invariably occurs during that part of the year.

Marketing 159

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2023 Was About Using AI. 2024 Is About Using It Better: Mosaik CEO

Inman

Ahead of Inman Connect New York 2024, Mosaik founder and CEO Sheila Reddy talks about the future of artificial intelligence and how it can revolutionize the agent experience.

Agents 192
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Number of price cuts drops as housing inventory rises

Housing Wire

Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow at the level it typically does in January or February instead of being delayed until March or April. Last year at this time, inventory rose week to week and I was hopeful for a typical spring inventory year, but the seasonal bottom didn’t actually happen until April 14.

Inventory 534
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Single-Family Permits Down in November 2023

Eyes on Housing

Over the first eleven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 843,654. On a year-over-year (YoY) basis, this is 8.5% below the November 2022 level of 921,626. Year-to-date ending in November, single-family permits declined in all four regions. The range of permit decline spanned 6.8% in the South to 12.6% in the West.

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HUD’s Use of Convicted Felons to Ramp Up ‘Discrimination Testing’

Appraiserblogs

It wants to bootstrap released felons by allowing them to work as so-called “fair-housing testers” for the many nonprofits HUD provides grants to… If the rule is changed, the HUD-subsidized nonprofits could hire felons to ramp up sting operations against real estate brokers, leasing agents, mortgage loan officers, escrow officers, title officers, appraisers, property managers and others.

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Why NAR may be primed for record membership fall in 2024: Triple-I

Inman

The National Association of Realtors may be on the verge of a bigger membership decline than it's ever seen before — including during the 2008 housing crisis. Intel explores why that is.

Realtors 192
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Mortgage apps uptick spreads optimism on a refi recovery

Housing Wire

Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. To prove it, analysts are already discussing a potential refi recovery. Overall, mortgage applications rose by 10.4% in the week ending Jan. 12, compared to one week earlier, on a seasonally adjusted basis, per the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey.

Mortgage 482
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Pandemic Silver Lining: Young Adults Moving Out of Parental Homes

Eyes on Housing

Despite record high inflation rates, rising interest rates, and worsening housing affordability, young adults continued the post-pandemic trend of moving out of parental homes in 2022. The share of young adults ages 25-34 living with parents or parents-in-law declined and now stands at 19.1%, according to NAHB’s analysis of the 2022 American Community Survey (ACS) Public Use Microdata Sample (PUMS).

Law 140
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Top 5 Digital Form Features for Manufacturing Professionals

GoForrmz

Try these top five features to transform your manufacturing processes In today’s world of manufacturing, every second counts. Businesses are leaving traditional paperwork behind and looking for more effective processes. And that’s where GoFormz comes in! GoFormz provides digital forms that are powered by a suite of features, modernizing the way the world collects information.

Design 78
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New iGuide update promises 3D tours in 20 minutes

Inman

Listing tour and digital twin solution iGuide has updated its suite of products with a faster, cost-efficient method for creating immersive property experiences called iGuide Instant.

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Empty-nesters own twice as many large homes as millennials with children

Housing Wire

Empty-nester baby boomers own roughly twice as many of the nation’s three-bedroom-plus homes as millennials with children, according to a report from Redfin published on Tuesday. The report is based on a Redfin analysis of U.S. Census data from 2022, that breaks down the share of three-bedroom-plus homes owned and occupied by each generation, by household type and size.

Inventory 482
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Existing Home Sales End 2023 at the Lowest Level Since 1995

Eyes on Housing

Existing home sales slipped in December, ending 2023 at the lowest level since 1995, according to the National Association of Realtors (NAR). In 2023, the decline was largely attributed to worsening housing affordability and persistently low supply, exacerbated by higher interest rates. Low inventory, along with strong demand, drove the median home price to a record high of $389,800 in.

Realtors 138
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Commercial Real Estate: The 3 Approaches to Value

Appraisal Hub

In the bustling city of Toronto, commercial real estate is a dynamic and vital sector. Understanding the value of commercial properties is crucial for investors, property owners, and businesses alike. As a subject expert in commercial real estate appraisals, I’ll guide you through the three primary approaches to determining property value. These methods are essential tools used by professional appraisal firms, like the renowned Appraisal Hub Inc. in Toronto, to provide accurate and reliabl

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What experts have right (and wrong) about the Silver Tsunami

Inman

Senior housing expert Rachael Hite shares data around seniors, aging in place, downsizing and the real cost of retirement. Housing experts predicting a "Silver Tsunami" are underestimating what boomers actually want.

Clients 184
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Laguna Beach, Calif. features its own city-supported aging-in-place program

Housing Wire

The city of Laguna Beach, Calif. recently offered details of its city-sponsored aging-in-place program, dubbed “Lifelong Laguna,” in a profile published by CNBC. It provides new insight into the measures cities can explore to more easily facilitate aging-in-place goals for older residents. 2021 research from AARP indicates that 77% of adults at or over the age of 50 want to stay in their homes as they get older, but the figure in Laguna Beach is much higher.

Realtors 475
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Market Update – YTD and Q3 2023 – Parkland

Empire Appraisal Group

Parkland Market update, YTD and Q3 2023 For over 20 years we have been providing real estate valuation services to Parkland and the rest of Broward County. We specialize in setting an accurate listing price for your home whether you are selling for sale by owner or using an agent, we value the marital home for divorce / dissolution of marriage, for estates we can provide the properties value as of the date of death, for immigration purposes as part of an affidavit of support, trusts, guardians

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Streamlining Paper Processes in Your Transportation & Logistics Business

GoForrmz

Digital forms could be the sustainable solution to paper problems your business has been missing At GoFormz we’re big believers in sustainability and making cost-effective, environmentally positive business decisions. Moving away from paper processes and embracing digital alternatives can be a fast and easy way for your transportation and logistics organization to streamline processes, improve efficiencies, and also embrace a long-term, eco-friendly approach to doing business.

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Christie’s International Real Estate expands into Curaçao with affiliate

Inman

The luxury brand's Aruba affiliate, Bold Properties, has expanded into the Caribbean island of Curaçao as demand remains strong among buyers and investors in the wake of the pandemic.

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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. However, as mortgage rates hit multi-decade highs , cooling demand and shrinking the pool of qualified buyers for new homes, homebuilders slowed their pace of construction, which settled at a plateau that is still well above pre-pandemic levels.

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Year in Review 2023

DataMaster

2023 has been an eventful year for the appraisal industry. We’ve seen strong headwinds in residential real estate with the Fed’s continued efforts to slow the economy and rein in inflation. T he good news is that there have been positive signals from the Fed regarding interest rates coming down along with other encouraging economic signs as we welcome in the New Year.

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Celebrate Dr. Martin Luther King, Jr.

Empire Appraisal Group

Martin Luther King, Jr., original name Michael King, Jr., (born January 15, 1929, Atlanta, Georgia , U.S.—died April 4, 1968, Memphis , Tennessee), Baptist minister and social activist who led the civil rights movement in the United States from the mid-1950s until his death by assassination in 1968. His leadership was fundamental to that movement’s success in ending the legal segregation of African Americans in the South and other parts of the United States.

Legal 78
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Falling mortgage rates should boost home sales: Fannie Mae

Inman

Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent.

Mortgage 195
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HUD secretary suggests openness to changing FHA ‘life of loan’ requirement

Housing Wire

Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD. Sitting for a HUD oversight hearing conducted by the U.S.

Insurance 475
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ProTip: Best Practices for GPS Fields on Your Forms

GoForrmz

Did you know there’s more than one way to use the Location field? GPS data can be utilized in diverse ways, such as pinpointing the whereabouts of a job site or incident and monitoring the location of equipment or deliveries. By utilizing GoFormz, your mobile forms can integrate GPS and Maps through the Location field, enabling users to effortlessly input their location with a few taps.

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How We Handle Assignments with Ease: Why Banks and AMCs Should Choose Us

Boston Appraisal

How We Handle Assignments with Ease: Why Banks and AMCs Should Choose UsWhether you are a homeowner or an investor, or an institutional lender, or even an ap.

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9 must-do moves to dodge the agent exodus

Inman

If you want to be a top-performing agent in 2024 — one who stays for the long haul — prioritize skill development to best adapt to the changing market, author and coach Darryl Davis writes.

Agents 184
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Country Club Mortgage to lay off employees, including CEO, and shutter offices

Housing Wire

Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. “This letter serves to give you an amended 60-day notice of permanent layoffs and facility closures effective Feb. 6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December.

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The Impact of Lower Mortgage Rates Is Already Being Felt in These Five Markets

BiggerPockets

Rates have been falling for the past few months, and signs of the market warming up are already here. These five markets have the highest gains in activity since last year.

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Let’s embark on a journey to know about Boston’s Neighborhoods

Boston Appraisal

The post Let’s embark on a journey to know about Boston’s Neighborhoods appeared first on Boston Appraisal Services.