Housing Wire
OCTOBER 21, 2023
The haunted house ride with the bond market and mortgage rates continued this week, but one housing data line hasn’t been spooked. New listing data appears unafraid of the mortgage rate ghost story over the last few months. Unlike last year, when new listings data had a noticeable move lower once mortgage rates reached 6%, 8% mortgage rates haven’t had any noticeable impact on the latest new listings data.
Sacramento Appraisal Blog
OCTOBER 26, 2023
You will either love it or hate it. This owner transformed a tract home built in 2002 into something with serious Midtown modern vibes. When I saw this house, I knew I wanted to write about it, and I think there are some great conversation nuggets. How do we value something when it has really […] The post Making a modern home from a tract home first appeared on Sacramento Appraisal Blog.
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George Dell
OCTOBER 25, 2023
We’re gonna crash! Now What? An appraiser’s job is to reflect the market. A couple of questions: What is “the” market? And how do I reflect? I like to divide consumer behavior into two thought patterns: Micro and Macro thinking. Micro thinking is under the assumption that the buyer is buying for personal use – […] The post Market Crash Adjustment?
Inman
OCTOBER 26, 2023
RESAAS’s data provisioning and market insight tools address a wide array of needs in multiple real estate business centers. It's known especially for its MLS and brokerage communication modules.
Housing Wire
OCTOBER 27, 2023
To many, homebuying is a daunting, often confusing process. Admittedly, the myriad of documents requiring signatures can be overwhelming, especially for first-time homebuyers. Thankfully, there are a number of online resources that can help homebuyers navigate the process. The American Land Title Association, alongside our real estate industry partners, are committed to making transactions easier for everyone through consumer education efforts.
Eyes on Housing
OCTOBER 25, 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash share of new home sales climbed substantially in the third quarter of 2023 while VA-backed sales share fell by nearly half. Additionally, the median purchase price of homes bought with cash surged by one-third over the quarter.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
OCTOBER 25, 2023
On Tuesday, plaintiffs’ attorney Michael Ketchmark played a video of a Tom Ferry interview with Allan Dalton of Berkshire Hathaway HomeServices that drew objections and threatened to derail proceedings.
Housing Wire
OCTOBER 25, 2023
While existing homebuyers have been battling high mortgage rates for months — which are now at 8% — the builders are wooing buyers with lower rates and incentives. Today, the new home sales data beat expectations and surprised people. However, sales have been rising slowly for some time. Using a low bar of sales from last year, the builder’s incentives have created more sales growth and their significant advantage is that they’re offering lower rates to move homes.
Eyes on Housing
OCTOBER 27, 2023
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.3% in September. The pace of personal income growth slowed after reaching a 1% monthly gain in January 2023. Gains in personal income are largely driven by increases in wages and salaries. With spending increasing faster than personal income, the September personal savings.
Advanced Appraisal
OCTOBER 23, 2023
Single Family home appraisals, house appraisals, 2-4 Units, Condos, Located in the Tinley Park, Mokena and Frankfort Area. We are also experts in Multi Family Apartment Buildings, Mixed Use, Small Commercial properties and Vacant land for all purposes. We offer private listing, Assessment Appeal, Bankruptcy, Divorce, Estate, Trust, partnership dispersion, Probate, and Indemnity Cases.
Inman
OCTOBER 25, 2023
First-time buyers are less likely than homeowners to be holding out for lower mortgage rates. But they hold a host of other priorities and concerns, according to an Intel analysis of buyer behavior.
Housing Wire
OCTOBER 27, 2023
As the trial of Burnett v. the National Association of Realtors (NAR), et al kicked off this week in a Kansas City, Missouri, federal courtroom, there is a lot at stake for consumers and business competition. Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules. In reality, consumers are better off and business competition thrives very much because of NAR’s rules and how well local Multiple Listing Service (MLS) broker
Eyes on Housing
OCTOBER 25, 2023
Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in September at a 759,000 seasonally adjusted annual pace, which is.
Appraiserblogs
OCTOBER 23, 2023
It was my experience that the majority of reviewers, FNMA included, had very limited field experience. Which is painfully obvious when they request baseless revisions for “more or better comps”. I’m a Certified General Appraiser that started appraising in 1984, almost 40 years ago! Spent the majority of my career appraising both residential and commercial properties in a major metropolitan market.
Inman
OCTOBER 27, 2023
Rick Geha Team founder Rick Geha suddenly passed away one week after eXp's annual conference in Las Vegas. The Geha family is honoring the late agent's memory with a $100,000 fundraiser for the Oakland A's Make-A-Wish Community Fund.
Housing Wire
OCTOBER 27, 2023
KANSAS CITY, Missouri — The final day of the second week of the Sitzer/Burnett commission lawsuit trial began with some procedural news. After filing a motion for a judgment as a matter of law late Thursday, the National Association of Realtors’ request was denied by Judge Stephen Bough. The other defendants in the suit, HomeServices of America and Keller Williams , had previously filed motions for judgment as a matter of law , but both were denied.
Eyes on Housing
OCTOBER 26, 2023
The U.S. economy had remarkable growth in the third quarter of 2023, fueled by consumer spending. The GDP price index rose 3.5% for the third quarter, up from a 1.7% increase in the second quarter. The Personal Consumption Expenditures (PCE) Price Index, capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior, rose.
Appraiserblogs
OCTOBER 27, 2023
Proving discriminatory activity is hard, which is probably one reason HUD is dragging their collective feet in resolving the filed complaints. The real scourge of what’s been happening to appraisers for the past 5 years (yes, it started prior to the last election) has been revealed by Mr. Isaac Peck, in this article. You really need to read it, perhaps again, if you saw it come through your email on Wednesday October 25.
Inman
OCTOBER 25, 2023
HomeServices of America attorneys filed a motion Wednesday requesting a mistrial in the Sitzer | Burnett trial, saying a video submitted a day earlier jeopardizes its chances for a fair trial.
Housing Wire
OCTOBER 24, 2023
Everyone knows that potential homebuyers are waiting for better affordability. But if demand for homes at current prices is down then why haven’t home prices fallen to meet the lower demand? The short answer is that while homebuyer demand is indeed low, new supply remains very low, too. For home prices to adjust significantly, we need an imbalance of supply versus demand, and this market is surprisingly balanced.
Eyes on Housing
OCTOBER 27, 2023
NAHB tabulation of data from the Survey of Construction (SOC) indicates shares of new single-family homes built with private wells and individual septic systems increased in 2022, compared with the previous year. About 10% of new single-family homes started in 2022 were served by individual wells and 18% had private septic systems. These shares, however, vary widely across the nine.
Boston Appraisal
OCTOBER 27, 2023
Divorces are difficult and stressful processes that involve many legal and financial issues. One of the most important and complex aspects of divorce procedures is dividing the marital property, especially the family home. In order to ensure a fair and equitable distribution of assets, it is essential to obtain a professional, and accurate property appraisal in a divorce case.
Inman
OCTOBER 23, 2023
For the past three years, luxury buyers have been on the move. Increased opportunities to work remotely — and, by extension, live remotely — have enabled them to embrace new lifestyles or seek a higher quality of life, whether that means exploring regions and markets with better weather, lower costs, or a more relaxed pace.
Housing Wire
OCTOBER 26, 2023
Average mortgage rates on 30-year fixed home loans continued their march towards 8% this week as the Treasury yield surpassed 5%. Rates have been steadily climbing for seven straight weeks, the longest consecutive increase since Spring 2022, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average 30-year, fixed-rate mortgage rose to 7.79% as of Oct. 26.
Eyes on Housing
OCTOBER 23, 2023
Despite mortgage rates topping 7%, Americans persist in their desire to buy a home. According to the latest Housing Trends Report*, the share of adults with plans to purchase a home within a year edged up to 17% in the third quarter of 2023, up from 15% a quarter earlier. The share has fluctuated up and down without a clear.
Empire Appraisal Group
OCTOBER 26, 2023
How can an appraisal help with Immigration? Form I-134, officially known as the “Affidavit of Support”, is a document required by the U.S. Citizenship and Immigration Services (USCIS) for certain non-immigrant visa applicants to demonstrate their financial support while in the United States. An appraisal report could be used as supporting documentation to demonstrate the sponsor’s financial ability to provide support for the applicant.
Inman
OCTOBER 24, 2023
CoStar Group earned $625 million in Q3, clinching its 50th consecutive quarter of revenue gains. The company also highlighted a 1,290 percent annual growth in Homes.com traffic.
Housing Wire
OCTOBER 23, 2023
While the mortgage delinquency rate remains low compared to pre-pandemic levels , the number of delinquent loans ticked up in September, according to the ICE Mortgage Monitor report. The national delinquency rate climbed to 3.29% in September, which is up 12 basis points from August and up 13 basis points from September 2022. This makes it the second and largest annual increase in the last 2.5 years, however, the delinquency rate remains 71 basis points below the pre-pandemic level of September
Eyes on Housing
OCTOBER 26, 2023
Housing’s share of the economy remained at 15.9% at the end of the third quarter of 2023. Overall GDP increased at a 4.9% annual rate, following a 2.1% increase in the second quarter of 2023 and 2.2% increase in the first quarter of 2023. Housing’s share of GDP remained at 15.9% for the third consecutive quarter in 2023. In the.
GoForrmz
OCTOBER 26, 2023
Enterprise data may be the missing piece for your business’s growth A growth mindset is often thought to refer to the ability of a leadership team to see value in growth, but there’s a lot more to it than that. A true growth mindset means shifting your perspective from “problem-solving” to “solution expansion”. Instead of keeping your attention, budget, and talent focused on what needs to be done better, try allocating those resources to what’s working well for your business, and doing more of i
Inman
OCTOBER 27, 2023
Initiative provides new financing and technical assistance to developers and local government, and highlights grants and tax incentives that can make conversion projects more attractive.
Housing Wire
OCTOBER 25, 2023
With mortgage rates still hovering around 8%, mortgage applications decreased 1% for the week ending Oct. 20 compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association. “Mortgage activity continued to stall, with applications dipping to the slowest weekly pace since 1995,” Joel Kan, MBA’s vice president and deputy chief economist, said.
BiggerPockets
OCTOBER 26, 2023
ROI in real estate measures the profitability of an investment property. It's the ratio of net profit to the initial investment. In simple terms, a higher ROI indicates a more lucrative investment, while a lower one suggests lower returns.
GoForrmz
OCTOBER 24, 2023
Barcode Scanning helps you work faster and reduce human error Barcode Scanning can help your team complete their forms faster and accurately collect specific information. You can use Barcode Scanning within your digital forms in the following ways: Auto-Populate corresponding form fields Barcode Scanning can be used to instantly populate fields with information pulled from a DataSource.
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