Sat.Jan 14, 2023 - Fri.Jan 20, 2023

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How are appraisers handling concessions?

Sacramento Appraisal Blog

How are appraisers handling concessions to the buyer? Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market. UPCOMING (PUBLIC) SPEAKING GIGS: 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on […].

Appraisal 341
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The mortgage industry is nervous about LLPA fee changes

Housing Wire

The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. It’s generating concern among mortgage and real estate trade groups, who fear the tweaks will hurt qualified borrowers amid an existing affordability crisis.

Mortgage 541
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Was This Home Overimproved or Underimproved?

Cleveland Appraisal Blog

Have you heard of a property being overimproved, or super adequate? How about underimproved? Unless you’re in the property valuation profession, you may not have. What do these things indicate? The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value.

Appraisal 284
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P.U. – No Longer Just a Bad Smell

The Appraiser Coach

Years ago, I went on a nation-wide tour where I met with appraisers in several cities. We discussed what I do as an appraiser and business owner, and how they. Read More.

Business 256
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Do We Need a Neighborhood Section?

George Dell

Neighborhood” seems like an obvious choice for analysis. But is it? (Part 5 of a series.) The knee-jerk reaction to this question is that obviously we need it. It is a starting core of analysis. It’s what we were taught. It’s required for our license test. Leaving out a neighborhood section (form or narrative) would […]. The post Do We Need a Neighborhood Section?

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Housing inventory falls under 1M again as sales collapse

Housing Wire

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. And existing home sales crashed in 2022 from a peak of around 6.5 million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S. housing market , we just experienced an event that most people never thought could happen.

Inventory 540

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Viyaleta Kachan was 1 of the 21,434 Americans to launch a real estate career in 2022. Here’s her story

Inman

Inflation and rising interest rates tilted the housing market off its axis in 2022. Here's the story of one woman who joined the ranks of real estate agents last year — and thrived amid the chaos.

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Which Hat Are You Wearing?

The Appraiser Coach

There are many different roles the we play as appraisers.

Business 195
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Housing Market Tracker: Weekly inventory adds 1,339 homes

Housing Wire

Here’s the rundown for the last week: Purchase application data has stabilized — the bleeding stopped. Housing inventory increased by 1,339 homes nationwide. This is a small number but could be the start of an important trend. Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. 20. The weekly data shows some good news for the housing market !

Inventory 531
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Existing Home Sales End 2022 with Weakest Year Since 2014

Eyes on Housing

As elevated mortgage rates and tight inventory continue to weaken housing demand, the volume of existing home sales declined for an eleventh consecutive month as of December, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have retreated in recent weeks due to recession concerns, they are likely to.

Inventory 185
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Inside Real Estate acquires industry competitor BoomTown

Inman

In what could be described as the most significant proptech acquisition since Zillow purchased ShowingTime, the resulting company will boast 700 employees and a massive range of customers.

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[Video] eSign in Digital Forms: 4 Use Cases for Your Business

GoForrmz

Capture legally binding electronic signatures within your digital forms. In an all-digital world, meeting the data security and compliance requirements with your workplace documents is a minimum expectation of your clients. With GoFormz + eSign, you can now seamlessly digitize your paper documents while capturing legally binding electronic signatures - all within seconds.

Business 148
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The title industry’s role in uncertain times

Housing Wire

After years of historic growth, the housing market is beginning to normalize. Home prices nationwide fell between August and September, marking the first time prices have declined for three consecutive months in nearly four years, according to the Case-Shiller National Home Price Index. As both the real estate industry and consumers prepare for what’s to come, it is critical that we do not take for granted the products and systems that have carried us through other cycles of economic downturn.

Insurance 441
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Single-Family Permits Decreased in November 2022

Eyes on Housing

Over the first eleven months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 921,626. On a year-over-year (YoY) basis, this is 10.5% below the November 2021 level of 1,029,208. Year-to-date ending in November, single-family permits declined in all four regions. The South posted a decline of 8.4%, while the West region reported the steepest decline.

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Why Keller Williams is a tech biz, according to its chief digital officer

Inman

In advance of his appearance at Inman Connect New York on Jan. 24-26, the franchisor's chief technology and digital officer told Inman what agents are asking for since the market changed.

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Improve Audit Processes With These Digital Form Features

GoForrmz

Audit season is here, is your business ready? Audits are just another part of running a business - though they’re seldom the most pleasant. Whether it’s an audit from a government or industry authority, or just your own internal team conducting a process audit, they can be intimidating. But thankfully they don’t have to stall your business or take up excessive amounts of your time.

Business 146
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Don’t expect a drastic housing market turnaround in 2023, Fitch Ratings says

Housing Wire

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. The brutal low origination volume and industry consolidation that occurred for lenders in 2022 isn’t expected to turn around, at least not drastically, in 2023, according to Fitch Ratings. “Our outlook for mortgage originators and servicers is deteriorating,” Shampa Bhattacharya, the director of the financial institutions group at Fitch Ra

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Remodeling Market Sentiment Weakened in Fourth Quarter but Remains Positive

Eyes on Housing

The NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter of 2022 posted a reading of 66, falling 17 points from the fourth quarter of 2021. While there is a sharp decline in RMI year-over-year, it remains in positive territory as remodeling continues to outperform the rest of the residential construction sector, whether one looks at construction spending or.

Marketing 178
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Opendoor in 2023: The iBuying king and a business model in turmoil

Inman

Opendoor faces a fight for survival after "an abrupt strategy pivot" sent Opendoor into 2023 "without a proven business model." Here are the five biggest challenges facing the king of a troubled business model.

Business 164
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Wife’s Tribute to Bill King

Appraiserblogs

Folks, I was in a USPAP class last Friday, during the day I was sent the tribute message below from another appraiser who knew Bill King very well, and who has been in touch with Bill’s wife. I’ve been looking for the obit. The one below was published on Sunday January 15, in the Anchorage Daily News: Orbituary William Edward King, 67, of Palmer, Alaska, passed away on Jan. 7, 2023.

Appraisal 125
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Rumors of mega-MSR offerings from Wells Fargo stir market

Housing Wire

The mortgage servicing rights (MSR) market has opened 2023 with a healthy volume of capital committed to purchasing the assets along with multiple sellers primed for deals — as evidenced by the $60 billion to $65 billion in MSR portfolio offerings currently out for bid, market experts say. That good news, however, is being overshadowed for now by what sources in the MSR market describe as a rumored record-sized series of planned MSR offerings that are reportedly being prepared by banking giant W

Marketing 441
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FAQ 3: What’s the Difference Between an Appraisal and a Home Inspection

Riverfront Appraisals

This blog post is brought to you by the Guide To Appraisals series of e-books. The Realtor’s Guide to Appraisals, The Homeowner’s Guide to Appraisals, and the Loan Officer’s Guide to Appraisals provide you with all you need to know about the appraisal process, so that you can better serve your clients, and make the […] The post FAQ 3: What’s the Difference Between an Appraisal and a Home Inspection appeared first on Riverfront Appraisals.

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23 video content ideas every real estate agent should make in 2023

Inman

Whether you’re going all in on video in 2023 or creating your first, these 23 video content ideas from Jimmy Burgess will get you in front of more potential clients, position you as the local expert and get your creative juices flowing.

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HUD Announces Numerous Changes to Handbook 4000.1

McKissock

On January 18, 2023, HUD issued an announcement regarding revisions made to Handbook 4000.1. According to the announcement, the revisions included “enhancements and revisions to existing guidelines and various technical edits.” The most significant of these revisions was the elimination of the requirement to include the 1004MC form as an attachment to the appraisal report.

HOA 117
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Lower mortgage rates, higher inventory boost demand for home loans 

Housing Wire

Like its competitors, Tennessee-based First Community Mortgage, Inc. (FCM) reduced the company’s size through 2022 amid a tough mortgage market. At the start of 2023, the company is investing in training the sales team on tactics to start growing the business again. Surprisingly, the landscape is helping. “There is certainly optimism in the air as mortgage applications have started to pick up on,” Keith Canter, CEO at First Community Mortgage, said. “The optimism is

Inventory 433
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Digital Forms for Finance and Accounting

GoForrmz

Keep finances at your fingertips with digital forms Digital forms have modernized the way accounting businesses work. They provide a convenient and efficient alternative to traditional paper-based forms. From collecting client information to tracking expenses, digital forms have made the accounting process faster, more accurate, and more secure. However, GoFormz customers know not all digital forms are created equal.

Finance 78
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Slew of Lansing area teams moves from Coldwell Banker to RE/MAX

Inman

Four teams previously affiliated with Coldwell Banker Hubell BriarWood in Lansing, Michigan, have moved to RE/MAX Real Estate Professionals Okemos since December representing about 20 real estate agents and staff and nearly $150 million in average annual sales volume.

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The Rise in Interest Rates And How It Affects Buyers and Sellers

Boston Appraisal

The Rise in Interest Rates and How It Affects Buyers and Sellers When the COVID-19 pandemic began in early 2020, the Federal Reserve was quick to act by substantially reducing interest rates, which resulted in many new buyers entering the market to purchase a home at low rates. Because of the high appeal of owning a home, buyer demand far outstripped the supply of homes, which caused home values to skyrocket by the end of 2021.

Sellers 78
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Pennymac looks to capitalize on Wells Fargo’s correspondent exit

Housing Wire

Pennymac , the country’s largest correspondent lender with about 14% market share, has its eyes fixed on absorbing origination volume that Wells Fargo is leaving behind in the correspondent channel. . The California-based lender plans to increase its client base in the bank and credit union segment where Wells Fargo was most active, Abbie Tidmore, senior managing director and chief revenue officer, at Pennymac told HousingWire.

Clients 418
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Angela Harkins Wins Highest Sales Volume – Chelmsford Office 2022

Lamacchia Realty

The REALTOR ® with the Highest Sales Volume in the Chelmsford Office for 2022 is Angela Harkins! Angela closed out 2022 with over $19,500,000 in sales volume! This is Angela’s 5 th year achieving the #1 spot. Angela is a consistent top performer in the Chelmsford office and the company overall. In addition, Angela ended the year by ranking as the #16 REALTOR ® in the company – that’s out of nearly 500 REALTORS ® !

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NextHome lands No. 1 franchise ranking for third straight year

Inman

The flexible-spending model real estate franchise beat out a number of other real estate franchises assessed by Franchise Business Review this year, including Keller Williams, Weichert Real Estate, Sotheby's International Realty and others.

Realty 156
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Will 2023 Be a Good Time to Invest in the Real Estate Market?

Mashvisor

Many consider real estate investing a foolproof way to build a consistent flow of income. What can you expect in the real estate market 2023?

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Mortgage rate protections, price discounts help reel in hesitant borrowers

Housing Wire

Declining mortgage rates spurred the demand for home loans at the beginning of 2023, spreading optimism across the industry. But that’s not the only reason for the uptick. After months of a slowing housing market, sellers are offering more discounts to close deals and mortgage lenders are launching programs to protect their clients’ rates. “The fall in mortgage rates creates opportunities for many buyers, as a lower mortgage rate brings down the monthly payment,” Nadia E

Mortgage 412
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Kate Perrine Wins Most Transactions – Chelmsford Office 2022

Lamacchia Realty

Kate Perrine closed out 2022 as the REALTOR ® with the Most Transactions in the Chelmsford Office! This is the second year in a row that Kate has achieved this ranking. By the end of 2022, Kate closed an impressive 36 homes! In addition, Kate rounded out the year by ranking as the #14 REALTOR® in the company – that’s out of nearly 500 REALTORS ® ! On her third year with the company, Kate has certainly settled into her role as a top producing REALTOR ® in the company overall.