Sat.Dec 30, 2023 - Fri.Jan 05, 2024

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New bill in Florida looks to help cut homeowner’s insurance premium costs

Housing Wire

Lawmakers in Florida are getting creative when it comes to trying to solve their state’s homeowner’s insurance challenges. Due to the recent uptick in the number and severity of hurricanes facing the Sunshine State, many insurers and reinsurers have made the decision to leave the state. According to the Insurance Information Institute , this exodus has resulted in Floridian homeowners paying an average of nearly $4,000 a year in insurance, which is nearly three times the U.S. average.

Insurance 525
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Real estate trends to watch in 2024

Sacramento Appraisal Blog

What’s the housing market going to do in 2024? Nobody has a crystal ball, but here are some emerging trends. Scroll quickly by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 01/12/24 Prime Real Estate (private event (I think)) 01/17/24 Gateway Event (private) 01/30/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 2/09/24 […] The post Real estate trends to watch in 2024 first appeared on Sacramento Appraisal Blog.

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What IS an Appraisal?

George Dell

An appraisal, everyone knows what is. Or do they? To explore this question, we must consider the theoretical – what USPAP expects. And we must consider what actually happens – in real, practical, practical, practice. In addition, we must consider other “valuations” types. We also might glance at what might be an ideal – given […] The post What IS an Appraisal?

Appraisal 195
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You Have Options

The Appraiser Coach

There’s been a lot of talk recently about desktop appraisals. Everyone has their opinion, and there are many who are not in favor of this new development. I don’t know any more than you do about where things are headed, but from what I do know, and from connecting the dots, I think it’s that desktop appraisals will become more (not less) popular.

Appraisal 195
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‘Silver tsunami’ could have a bigger impact on 2024’s housing market: analyst

Housing Wire

The “ silver tsunami ” — a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging — could have more of an impact on the housing market this year, according to analyst Meredith Whitney in a conversation with Yahoo Finance. “[T]he other major demographic trend you see is the aging of America,” Whitney said.

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Brad Inman: ‘Unsung hero of real estate’ is the small broker-owner

Inman

More than 80 percent of real estate agents work for small brokerages with fewer than 25 agents, and the average is seven, Brad Inman writes. But their might was on full display in 2023.

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916 Create an Offer So Good, People Feel Stupid Saying No

The Appraiser Coach

A simple concept, but how can you make this apply to real estate appraisal? How do you increase your volume and revenue by creating great offers for your potential clients? Check out this episode!

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Are we seeing cracks in the labor market?

Housing Wire

Slowing job growth doesn’t mean a recession, but today’s jobs report tells me that the significant job gains we were accustomed to in the early part of the COVID-19 recovery period are ending, which ties nicely to how I thought labor would recover after COVID. Even though the headline number on the report today beat estimates, we are entering a new phase of the economic cycle, which means you need to know where to look to get clues for a recession.

Marketing 506
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49% of agents sold either 1 home or none at all in the past year: CFA

Inman

Agent "glut" means part-timers are now the majority, leading to "widespread incompetence and pressure to maintain high commission rates," according to the Consumer Federation of America.

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Solid Job Growth in 2023

Eyes on Housing

December’s jobs report concludes another solid year of job hiring in 2023. In December, total nonfarm payroll employment increased by 216,000, and the unemployment rate held steady at 3.7% for the second month. Job gains moderated in 2023 with an average 225,000 monthly employment growth but remained strong. In December, wage growth accelerated to a 4.

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917 Appraisers Are Eating Their Own

The Appraiser Coach

With less volume comes more time on your hands. Some appraisers are using that time to attack others. Dustin gives a better solution to how you might spend your extra time. Check out this episode!

Appraisal 150
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Housing inventory defied all predictions in 2023

Housing Wire

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. We created this weekly tracker at the end of 2022 to give people a live weekly outlook on everything that drives the housing market and which factors to follow. Those reading the tracker would have understood why the housing market dynamics shifted on Nov. 9, 2022, and they’ll be ready for what’s coming next.

Inventory 518
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What the biggest names in real estate really thought of 2023

Inman

Fourteen of the real estate industry's biggest leaders shared their thoughts on rising mortgage rates, slowing sales, antitrust suits, National Association of Realtors drama, and several other headline-making stories along with their hopes for the new year.

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Is the Iceberg Turning?

Appraiserblogs

Appraisers, it seems this past year has been like furiously paddling against a giant iceberg containing frozen lending assignments in the North Atlantic ocean while in a rowboat with one paddle! The entire 2023 has been one chilling episode in terms of mortgage lending appraisal assignments for appraisers. While it’s too soon to tell for sure, a giant sea-going tug boat with high horsepower diesel engines powering twin propellers mounted on azipods has arrived on the scene to help direct and pus

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Employment Situation in November: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 37 states and the District of Columbia in November compared to the previous month, while 13 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 199,000 in November, following a gain of 150,000 jobs in October.

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Housing association leaders on the affordability landscape, 2024 priorities

Housing Wire

Affordability remains a critical issue in virtually all conversations about housing, and few people understand that reality better than leading housing and mortgage industry advocacy groups. HousingWire sat down with three industry leaders to discuss the housing affordability landscape in 2024: Mortgage Bankers Association (MBA) President and CEO Robert Broeksmit, National Housing Conference (NHC) President and CEO David Dworkin and Community Home Lenders of America (CHLA) executive director Sco

Insurance 487
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Robert Reffkin relinquishes stock unit awards for $7M cash bonus

Inman

An SEC filing showed the Compass CEO is letting go of $25 million in performance-based restricted stock unit awards in exchange for something a bit more tangible. His salary is also going up to $900,000.

Brokerage 190
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The Elephant In the Room: Fannie’s Modernization Program

Appraiserblogs

The Elephant I refer to is simply this: Fannie Mae’s modernization program is going to put a lot of appraisers out of business. It’s all “lender centric”. It’s all about better, faster, cheaper, appraisals (with lots more data) for lenders. As an appraiser, all I see are sticks… no carrots. Nobody wants to talk about the Elephant in The Room. Post COVID 19, business was excellent; fees were high and we profited.

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Construction Job Openings Rise as Total Economy Count Falls

Eyes on Housing

Due to tightened monetary policy, the count of total job openings for the economy continues to move slower. This is consistent with a cooling economy that is a positive sign for future inflation readings. In November, the number of open jobs for the economy declined to 8.8 million. This is notably lower than the 10.8 million reported a year ago.

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New law gives Texas homeowners thousands in property tax relief

Housing Wire

A bill that will reduce statewide property taxes for Texas homeowners by roughly $18 billion went into effect Jan. 1. The new law passed with 83% of the vote in November, according to the Texas Tribune. “The measure raised the homestead exemption—the amount of money a homeowner can take off the value of their house (and primary residence) before it is taxed—from $40,000 to $100,000 per year,” a Newsweek article explained.

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Glennda Baker: Think you have a drinking problem? You probably do

Inman

Armed with the latest research, Rachael Hite talks with Glennda Baker about choosing sobriety in an industry that is always ready to party and why drinking is so harmful for women.

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Reindeer Standards As Unenforceable As Appraisal Code

Appraiserblogs

There’s a lot to like about the bylaws of the Association of World Reindeer Herders. The code defines how herders promote professional, commercial and cultural contact in all matters related to reindeer herding. The document sets the gold standard for disseminating information world over about reindeer husbandry. The bylaws were approved at the first Congress of World Reindeer Herders on March 2, 1997.

Appraisal 104
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State-Level GDP in the Third Quarter of 2023

Eyes on Housing

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the third quarter of 2023. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP increase ranged from 9.7 percent in Kansas to 0.7 percent in Arkansas. Nationwide, growth in real GDP (measured on a seasonally adjusted annual rate basis).

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G-Rate sues NAF over poaching, alleges violation of LO comp rule 

Housing Wire

Top-10 mortgage lender Guaranteed Rate has filed a lawsuit against retail rival New American Funding over poaching. But this isn’t your standard poaching lawsuit: G-Rate alleges that NAF has wooed at least 30 employees since early 2023 via illegal loan officer compensation practices. Despite the rise in poaching lawsuits in a competitive market, it’s the first time a large lender has publicly accused a competitor of violating the LO comp rule by allowing their salesforce to manipula

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And the biggest news of 2023 is … Inman’s top 10 stories of the year

Inman

Because we're sure you remember these stories all too well, we'll just get to it without further ado. Here are the top news stories of 2023, ranked by readership.

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Top 5 Processes to Streamline with Digital Forms in 2024

GoForrmz

Master the transformative impact of digital forms One key component you may have found in your end-of-year planning is that in 2024, it might be time to find digital solutions to both ease the burden on your existing team, while also finding ways to streamline processes to be more efficient going forward. Popularly called a digital transformation, the idea of embracing new technologies to solve existing problems is nothing new and is likely already a part of your strategy in the coming year.

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Happy New Year

Empire Appraisal Group

Cheers to a Prosperous New Year! As we bid farewell to the old and welcome the new, may your homes be filled with joy, growth, and countless new memories. Wishing you a year ahead brimming with happiness and the continued appreciation of the precious spaces you call home. Happy New Year! Danie Lindeman Empire Appraisal Group, Inc. 561-441-9298 The post Happy New Year appeared first on Empire Appraisal Group.

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RentSpree achieves SOC 2 compliance 

Housing Wire

Los Angeles-based rental management software provider RentSpree successfully passed an audit regarding its data protection strategy, obtaining the System and Organization Controls (SOC) 2 Type II compliance. SOC 2 is regarded as the premier data security standard for Software as a Service (SaaS) providers. Developed by the American Institute of Certified Public Accountants , the SOC 2 Type II audit examines a company’s controls related to security, availability, processing integrity, confi

Tenants 467
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After retiring SimpleNexus brand, nCino grows its mortgage business

Inman

Since acquiring SimpleNexus for $933.6 million and rebranding the company, nCino has been signing new clients and cross-selling its new mortgage capabilities to existing customers.

Business 180
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USPAP Myths for Appraisers

Appraisal Today

Five USPAP Myths Dispelled in 2024 USPAP By Daniel A. Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. These represent the first changes to USPAP in four years. Many of the changes will not have a significant impact on the way appraisers practice but are nevertheless important for public trust.

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With Mortgage Rates Set To Drop, Will This Be the Year Sellers Come Back? Here’s What the Data Says

BiggerPockets

Mortgage rates have been on the decline and are expected to keep falling. What does that mean for inventory and home seller attitudes this year? Here's what you need to know.

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HousingWire to host commission lawsuit debate between Ketchmark and Lamacchia

Housing Wire

On Jan. 26, HousingWire will host a virtual debate between Michael Ketchmark, the plaintiffs’ attorney in the Sitzer/Burnett commission lawsuit, and Anthony Lamacchia , CEO of Lamacchia Realty and an outspoken advocate for Realtors, to discuss the arguments and the outcome of the trial. The recent landmark decision in the Sitzer/Burnett case included multi-billion dollar penalties for the National Association of Realtors , HomeServices of America and Keller Williams and spawned more tha

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Industry veteran Saul Klein replaces MLS CEO accused of theft

Inman

Klein has been interim president of San Diego MLS since June, following the departure of former CEO Michael Mercurio, who allegedly embezzled $1 million from the San Diego Association of Realtors.

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Lamacchia Realty Announces Top Producing REALTORS® for December 2023

Lamacchia Realty

Lamacchia Realty, Inc. has released its “Top Producing REALTORS®,” for December 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! December 2023 Winners of the Top 10 for the Company are: Eileen Doherty grew up in Woburn and resides in the area to this day.