Sat.Jan 21, 2023 - Fri.Jan 27, 2023

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Can Expert Analysis Save Appraisers?

George Dell

Our blog this week, ‘Can Expert Analysis Save Appraisers?’ is a guest post from a long time friend and colleague, Timothy Andersen, MAI, MSc, CDEI, MNAA, The Appraiser’s Advocate. Analysis of what? Save appraisers from what? Clients want more than our opinions. They expect us to gather data, analyze them, and then interpret them. In […] The post Can Expert Analysis Save Appraisers?

Appraisal 195
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Housing Market Tracker: Purchase apps jump 25%

Housing Wire

Here’s the housing market rundown for the last week: Purchase application data had a solid week-to-week gain of 25%. That’s a big jump, but context is critical. Housing inventory decreased by 566 units, which is not a significant decline. Mortgage rates fell, but the bond market didn’t break what I see as a critical level, so for now, stabilization is more important.

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It’s not just home prices. Rents are dropping too.

Sacramento Appraisal Blog

There is so much attention on home prices, but let’s talk about rents because they’re dropping too. Yep, you heard that right. Rents have been going down locally and in many markets across the country (not everywhere). Here are a few things on my mind. UPCOMING (PUBLIC) SPEAKING GIGS: 1/26/23 How to Crush Lead Gen […] The post It’s not just home prices.

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The Monster in the Closet

The Appraiser Coach

A good appraiser knows that delegation can be an efficient and productive choice for their business, but the thought of that choice is often accompanied by fear. This comes up.

Business 195
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Fewer Adults are Planning a Home Purchase

Eyes on Housing

The share of adults planning a home purchase in the next 12 months dropped to 13% in the final quarter of 2022, down from 15% in the previous quarter. The drop is not surprising, given that housing affordability worsened during this period, as mortgage interest rates surpassed 7.0% and reached levels not seen in nearly 20 years. In the third.

Mortgage 186
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As mortgage rates decline, the mantra is ‘no buyers left behind’ 

Housing Wire

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” The Montgomery, Texas-based area manager, who moved from AmeriSave Mortgage Corporation to Cardinal Financial Company in November, launched in mid-2022 a platform to help their referral partners succeed. He makes co-marketing investments and helps partners with their databases by looking for any missed opportunity in the market.

Buyers 467

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Industrial Real Estate is Killing It! The Columbus, Ohio CRE Trend for 2023

The Robert Weiler Company

In the 2018 film Ready Player One , Columbus, Ohio, was depicted as the fastest-growing city on Earth in 2045. Why? Because it’s where fictional game developers James Halliday and Ogden Morrow of Gregarious Games launch the OASIS, a fully interactive immersive VR gaming environment where a growing percentage of the human population goes to escape.

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Employment Situation in December: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 32 states and the District of Columbia in December compared to the previous month, while 18 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 223,000 in December, following a gain of 256,000 jobs in November. On a month-over-month basis, employment data was strong in Texas, which.

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Flagstar Bank makes big cuts to retail mortgage operation

Housing Wire

Two months after receiving the Federal Reserve ’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. “I just got news this morning that the company is scrapping retail outside of where the bank footprint is,” a former Flagstar Bank regional manager posted on social media.

Retail 438
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Why eco-certification is driving value in luxury home sales

Inman

While you’ve likely encountered eco-certifications for homes, there are also eco-certifications for real estate agents. Here's what they are and why they matter to grow you book of business.

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House Measurement by Property Data Collector Gone Wrong

Appraiserblogs

The lender allowed an unlicensed property data collector give bad data to the appraiser… I work for this lender and they will not let my trainee inspect. The owners are now underwater by more than $100,000… I’m sad and I’m mad! I recently took on a measure job for a client who was questioning the square footage of their home. The couple bought the house at the height of the market last year.

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Housing Share of GDP Lower in the Fourth Quarter of 2022

Eyes on Housing

Housing’s share of the economy edged lower at the end of the fourth quarter of 2022. This is the second straight quarter where GDP increased in 2022, with overall GDP increasing at a 2.9% annual rate, following a 3.2% increase in the third quarter and 0.6% decrease in the second quarter. However, due to higher interest rates, housing’s share of.

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Affordability improves, as do hopes for a good spring  

Housing Wire

Affordability has improved in the mortgage market since December, thanks to declines in mortgage rates and a slowdown in home price appreciation. Here’s a spoiler: Industry experts believe this trend will continue for months, signaling that a good spring is ahead. “It’s been the rise in prices [and] interest rates that have constrained affordability,” Doug Duncan, senior vice president and chief economist at Fannie Mae, said in an interview.

Mortgage 420
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Anywhere Brands Sue Yannacone: Align with bigger franchises to win

Inman

Anywhere Brands President Sue Yannacone argued at Inman Connect New York on Wednesday that franchising helps brokerages scale up, and gives them tools they couldn't otherwise access.

Brokerage 156
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Bringing More People Into a Dying Profession!

Appraiserblogs

Some people want to bring more people (primarily of color, which is great) into a dying profession. But the profession is being killed off by (mostly white!) people who think technology is the golden spoon to accurate valuations. Appraisers, I’ve been studying, and writing about since 2006, all kind of issues surrounding our profession, and frankly some currently does not make sense.

Valuation 112
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Economic Growth and Signs of Cooling Inflation End 2022

Eyes on Housing

The U.S. economy continued to grow in the fourth quarter of 2022. As consumer spending and private inventory investment helped increase GDP, residential fixed investment dragged down the contribution to percent change in real GDP by 1.29 percentage points. More importantly, the data from the GDP report suggests that inflation is cooling. The GDP price index, rose 3.5% for the.

Investing 144
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Pending home sales rise for the first time since May 2022

Housing Wire

Pending home sales ended 2022 on a positive note. After six consecutive months of declines, the Pending Home Sales Index rose 2.5% month over month in December to a reading of 76.9, according to data released Friday by the National Association of Realtors (NAR). “This recent low point in home sales activity is likely over,” Lawrence Yun, NAR’s chief economist, said in a statement. “ Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to st

Contracts 411
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Why the 2023 housing market slowdown is a good thing

Inman

In a session called "Your Inside Look Into the 2023 Housing Market," panelists at Inman Connect New York said real estate companies and consumers are "adjusting to the new reality.

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FAQ #4: Are Appraisals Part of the Public Record?

Riverfront Appraisals

FAQ #4 Are Appraisals Part of the Public Record? Have you ever wondered if the tax assessor gets a copy of your appraisal? Or maybe the seller of a home you’re purchasing? Quite often, and usually towards the end of our appraisal inspection, we get asked a question that goes like this: “The PVA […] The post FAQ #4: Are Appraisals Part of the Public Record?

Appraisal 111
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Popularity of New Homes Declines in Final Quarter of 2022

Eyes on Housing

Interest for new home construction weakened in the fourth quarter of 2022, driven by high mortgage rates and elevated new home prices. The latest Housing Trends Report (HTR) shows that the share of prospective buyers looking to buy new construction dropped to 20% in the final quarter of 2022, down from 27% a quarter earlier. The latest decline in interest.

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How the housing market will evolve in 2023

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.

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In luxury, agents have to level up their brand

Inman

"It's a different lifestyle, it's a different language," Cindy Raney of the Cindy Raney & Team told attendees at ICNY on Wednesday about luxury — and that luxe clients appreciate attention to the details.

Agents 156
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What Home Buyers Should Expect in the Spring of 2023

Hank Miller Team

If it bleeds it leads, even if it's not accurate. Despite the constant caterwauling from the mass media about a housing crash, we are not seeing distress around the greater Atlanta market. That message however, is often taken at face value and some home buyers expect a bargain basement spring. Best advice as to what home buyers should expect in the spring of 2023.understand that it's not the spring of 2011.

Buyers 98
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Personal Income Rises 0.2% in December

Eyes on Housing

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.2% in December. The pace of personal income growth slowed after reaching a 0.8% monthly gain in October. Gains in personal income are largely driven by increases in compensation of employees in December. Real disposable income, income remaining after adjusted for taxes and.

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Home prices will drop to 2008-levels in these four cities: Goldman Sachs

Housing Wire

Goldman Sachs’ latest home price predictions could be cause for concern. The multinational investment bank and financial services company says home prices, which have been on the decline since June 2022, will fall further this year than previously predicted. The company notified its clients earlier this month that based on the S&P CoreLogic Case-Shiller US National Home Price NSA Index’s projected decline, the housing market has fallen out of favor with Goldman Sachs.

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Pending home sales trend up for first time since last spring

Inman

In a positive sign for the real estate industry — and the spring homebuying season — pending home sales rose in December for the first time since May 2022, increasing 2.5 percent from November.

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Thanks to my friends at the Yolo Association of Realtors

Yolo Solano Appraisal Blog

I’m grateful to my friends at the Yolo Association of Realtors for naming me, along with Rachel Medina, the 2022 Affiliates of the Year for the association. Sharing this with Rachel, on the same night my friends and colleagues Don Sharp and Francisco Jimenez were named 20222 Realtors of the Year, made the recognition special.

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Buyers Expect Less Housing Availability

Eyes on Housing

After a brief respite earlier in 2022, buyers’ expectations of housing availability soured again at the end of the year. In the final quarter of 2022, the share of buyers who expect the home search to get easier in the months ahead dropped to 24%, down from 37% in the third quarter. In contrast, 66% expect the search to get.

Buyers 109
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Clear Capital cuts 24% of its workforce in restructuring

Housing Wire

Real estate valuation technology company Clear Capital has conducted a new round of layoffs as part of a company restructuring plan. The firm announced on Wednesday that it was eliminating about 24% of its workforce, or over 250 jobs, as it restructures departments and consolidates teams amid a tough housing market. Per the firm, this round of layoffs will include cuts to some leadership and managerial roles.

Valuation 391
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Compass went public 2 years ago. Can it recover from its stock slump?

Inman

Compass went public in April 2021, and ever since then the New York-based brokerage has weathered a market downturn and seen investors' appetite for shares fall significantly.

Brokerage 160
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Form Spotlight: The Client Intake Form

GoForrmz

Transform your intake process with the GoFormz Intake Form Mobile intake forms are a modern and convenient alternative to traditional paper forms. These digital forms can instantly gather information from clients, patients, and customers using any mobile device. They can be used for many purposes, like scheduling appointments, collecting personal information, and providing consent for services.

Clients 78
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Commercial Real Estate Appraisal: Investing in Commercial Property

Appraisal Hub

When buying or selling commercial real estate in Toronto, the first step is to determine the property’s fair value so you can make optimal pricing decisions. A real estate appraisal provides a reliable way to understand the property and put it in the current market context. It can help you set an asking price if you are selling or negotiate if you are buying.

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Top Fairway LO Dave Medina decamps for Movement Mortgage to spread his wings

Housing Wire

Top-producing loan officer Dave Medina and his team at the Temecula, California-based branch have left ​​ Fairway Independent Mortgage to join Movement Mortgage. The move, which marks the start of Movement’s branch partnership strategy, comes four months after the South Carolina-based lender hired two top executives away from Fairway. “In the 20 years that I’ve been doing this business, I’ve only moved companies once, and that was when the company sold the mortgage divis

Retail 381
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Real estate leaders see signs of market thawing

Inman

At Inman Connect New York on Wednesday, Sue Yannaccone and Glenn Sanford talked about positive market indicators and taking care of employees that remain post-layoffs.