Housing Wire
APRIL 25, 2023
Why are the homebuilder stocks up so much? Don’t they know the new home sales apocalypse is here? You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? According to this theory, we have more homes under construction than any time in history. The truth is, it’s not 2008 all over again. I understand the lure of the housing 2008 story.
Sacramento Appraisal Blog
APRIL 25, 2023
Leaving California. That’s a buzzworthy topic. Let’s talk about migration today. I have lots of visuals and a few resources to share in case you’re in a different state and looking for data. I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 5/4/23 Housing Market Q&A 12-2pm 5/10/23 Empire Home Loans event TBA […] The post Leaving California.
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Cleveland Appraisal Blog
APRIL 26, 2023
Hello friends! With a shortage of housing inventory persisting, some are resorting to building their own home. But to do so, you need land. This week, I welcome back guest blogger, Ashley Rodriguez with bins4less , who wrote this article for the Cleveland Appraisal Blog. I hope you enjoy it! Buying land can be a complicated and sometimes tiring process for an individual to take on all by themselves.
Real Estate News
APRIL 22, 2023
In 1973, with a $1000 loan, Barbara Corcoran launched what would become a global luxury real estate company. And it's always had a woman at the helm.
Housing Wire
APRIL 23, 2023
Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. We didn’t see too much volatility in mortgage rates last week, but purchase apps declined in reaction to rates rising two weeks ago.
George Dell
APRIL 26, 2023
Current efforts in the regulation of appraisal quality and fairness are fettered by obsolete appraisal methods. Traditional appraisal methods were designed to tackle sparse, subjective, non-electronic data. These vintage practices enable bias, hinder diversity initiatives, and conceal risk quantification. We have written about the “Five Frictions” hindering improvement in regulated appraisal valuation.
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Real Estate News
APRIL 25, 2023
Several of the top brokerages in T3 Sixty's Mega 1000 list were founded after 2000, including top-ranking Compass.
Housing Wire
APRIL 27, 2023
Being able to close on a home at any time on any day of the year has long been a pipe dream, but the Federal Reserve ’s new FedNow instant payment system looks to be making that dream a reality. However, before one gets too excited, the title insurance industry is asking if it really is worth sacrificing security for speed. “There is the obvious perceived benefit of faster payment and they are touting that it will be cheaper than wire transfers , and of course you no longer have to worry about m
Inman
APRIL 24, 2023
Tools such as ChatGPT and DALL-E have opened the artificial intelligence floodgates and promise to permanently transform the way agents operate. But there's so much more to explore.
Eyes on Housing
APRIL 24, 2023
The retreat in mortgage interest rates during the first quarter of 2023 (from the 20-year peak reached in the fall of 2022) led a record share of adults in the US – 18 percent – to declare having plans to buy a home within a year – the largest share since the inception of this series in 2018. The finding.
Real Estate News
APRIL 26, 2023
Brokerage leader Bill Ryan, whose firm recently joined KW, has seen tremendous growth — and a few booms and busts — over his five decades in the industry.
Housing Wire
APRIL 27, 2023
For the first time since November 2022, pending home sales fell in March, posting a 5.2% month-over-month decrease, according to data released Thursday by the National Association of Realtors (NAR). The monthly drop resulted in the Pending Home Sales Index recording a reading of 78.9, down 23.3% year over year. An index of 100 is equal to the level of contract activity in 2001.
Inman
APRIL 28, 2023
Although median home price growth has slowed from its once-maniacal pace, purchasing a home is still an expensive feat as existing-home prices reached $375,700 in March. Inflation and elevated mortgage rates have created additional financial pressure and placed homebuyers on precarious hunts for affordable homes — even if they have to switch their area codes.
Eyes on Housing
APRIL 28, 2023
Relatively lower interest rates (compared to fall 2022), slowing growth in home prices, and builder incentives are making an impact on buyers’ affordability expectations. In the first quarter of 2023, 73% of buyers reported being able to afford less than half the homes for-sale in their markets, down from a record high of 87% in the final quarter of 2022. .
Real Estate News
APRIL 22, 2023
Jeff and Joanne Collis, originally based in Illinois, have been building a business in Naples, Florida while also working on deals in the Chicago suburbs.
Housing Wire
APRIL 24, 2023
The Mortgage Bankers Association (MBA) filed an amicus brief on Friday in response to the Consumer Financial Protection Bureau (CFPB) and the Department of Justice ‘s interest in determining a liability standard that would apply to lenders in cases of alleged bias by third-party appraisers. The mortgage trade group said it was concerned that the CFPB and DOJ would hold lenders liable for the actions of an appraiser, who is neither an employee nor an agent of the lender, a reference to a ca
Inman
APRIL 28, 2023
As uncomfortable as New York City's rent hikes feel to many tenants now, they don't compare to the soaring prices of Singapore's prime rental market, The Wall Street Journal reported.
Eyes on Housing
APRIL 26, 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing report published by the U.S. Census Bureau reveals that the share of new home sales backed by FHA loans jumped from 8.4% to 11.7% in the first quarter of 2023. It is the largest share since 2007 but remains 30% lower than the post-Great Recession average. Conventional loans financed.
Real Estate News
APRIL 24, 2023
A new survey from the National Association of Home Builders found a significant increase in the number of adults who plan on buying a home this year.
Housing Wire
APRIL 26, 2023
With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. He’s been watching the spring homebuying season slowly pick up and buying leads through Zillow and Realtor.com. It’s a lot of work, and there’s no guarantee that they will pay off. “A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage.
Inman
APRIL 28, 2023
Judge Thomas Zilly denied Zillow's motion for a protective order, saying CEO Rich Barton must complete three hours of questioning from REX's counsel about the company's "Project Bookshelf.
Eyes on Housing
APRIL 27, 2023
In the first quarter of 2023, economic growth slowed to an annual rate of 1.1%, amid rising interest rates and an ongoing banking crisis. This quarter’s growth was dragged down by decreases in private inventory investment and residential fixed investment. Private inventory investment subtracted 2.26 percentage points off the headline growth rate for overall GDP, while residential fixed investment took.
Real Estate News
APRIL 23, 2023
The LGBTQ+ Real Estate Alliance recently launched a consumer site that helps potential clients find an agent who understands their needs and challenges.
Housing Wire
APRIL 26, 2023
Higher mortgage rates did not scare away potential homeowners last week. Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. “There are still so many borrowers looking to purchase a home. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire.
Inman
APRIL 28, 2023
Billings, Montana, real estate agent Alyssa Webb was taking a cellphone video of the vacant home during a tour with clients when she turned a corner and came face to face with the vagrant.
Eyes on Housing
APRIL 26, 2023
Interest for new home construction was essentially unchanged between the final quarter of 2022 and the first quarter of 2023, as the share of prospective buyers looking to buy a newly built home barely edged from 20% to 21%. Meanwhile, the share interested in existing homes dropped from 39% to 37% during this period, while the share with no particular.
Real Estate News
APRIL 24, 2023
Buyers might long for pandemic-era mortgage rates, but economist Matthew Gardner cautions that the "bad & the ugly" impacts outweighed the good ones.
Housing Wire
APRIL 24, 2023
The federal Housing Choice Voucher (HCV) program is a powerful tool to help low-income families find apartments they can afford, but the program isn’t reaching its potential because far too few landlords participate in it. Landlords who refuse to participate cite several reasons, including what they regard as undue regulatory burdens and concerns about tenant “quality.
Inman
APRIL 27, 2023
In an unexpected twist, the Bronx neighborhood saw the median property value increase a stunning 149 percent year over year, bumping it into NYC's 50 priciest 'hoods for the first time in Q1.
Appraiserblogs
APRIL 25, 2023
Here’s a great take on the difference between Certified Appraisers vs. Unlicensed Data Collectors by Leigh Brown, President of the NC Association of REALTORS. Fannie Mae has been working hard to get rid of appraisers for years. Their latest twist is to re-categorize many appraisers as “Unlicensed Data Collectors.” Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home c
Real Estate News
APRIL 27, 2023
Sherry Chris, president and CEO of the Anywhere Expansion Brands portfolio, is retiring from brand leadership and will transition to an advisory role.
Housing Wire
APRIL 27, 2023
Executives at both Stewart Information Services and First American Financial bemoaned the challenging housing market environment as they discussed their respective firms’ first quarter 2023 earnings with investors Thursday morning. “The sharp decline in affordability driven by mortgage rates above 6%, along with low inventory and elevated home prices , adversely impacted the housing market, and as a result, our residential purchase business,” Ken DeGiorgio, the CEO of First American , told
Inman
APRIL 28, 2023
The event, which took place at The Wynn in Las Vegas, facilitated networking, relationship-building and education across about 3,000 of the brand's agents, brokers and staff.
Eyes on Housing
APRIL 28, 2023
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.3% in March. 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, personal income receipts on assets, and rental income. Real disposable income, income remaining after.
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