Housing Wire
MAY 16, 2023
Homebuilder confidence is continuing to trend upward this spring, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Tuesday. In May, home builder confidence in the market for newly built single-family homes rose to an index value of 50, an increase of five points from the April reading.
Cleveland Appraisal Blog
MAY 18, 2023
I was talking to a real estate agent recently who said that her sellers are scared about a significant downturn in the market and missing out on the higher values. The agent went on to mention that many people she knows would like to sell their home but are afraid of not finding another one because inventory levels are so low. Both fears are understandable.
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Sacramento Appraisal Blog
MAY 17, 2023
Builders are having a moment. New home sales are glowing right now in the midst of depressed volume in the resale market. Today I want to share some stats for new construction, but let’s also talk about pivoting when the market changes. UPCOMING (PUBLIC) SPEAKING GIGS: 5/22/23 Yolo YPN event (only for YAR members) 5/25/23 TBD 6/1/23 […] The post Pivoting when the housing market changes first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
George Dell
MAY 17, 2023
Evidence Based Valuation – EBV is the future for valuation professionals. It requires the appraiser’s experience, judgment, and knowledge. It’s not hard, just new. EBV captures the huge advantages of modern technology: computer power, open-source software, and market visualization. EBV provides an exciting learning path toward better service, personal satisfaction, and income security.
Housing Wire
MAY 18, 2023
Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. Why is this so important to me? If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. I would say it’s savagely unhealthy to have that level and even though we’re not there yet, we are dangerously close.
The Appraiser Coach
MAY 16, 2023
I’ve never loved The Secret, as a book or a movie. Maybe I missed something, but the primary message I came away with after reading.
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Eyes on Housing
MAY 16, 2023
Limited existing inventory, which has put a renewed emphasis on new construction, resulted in a solid gain for builder confidence in May even as the industry continues to face several challenges, including building material supply chain disruptions and tightening credit conditions for construction loans. Builder confidence in the market for newly built single-family homes in May rose five points to.
Housing Wire
MAY 17, 2023
The best way to fight inflation and get lower mortgage rates is to get more apartment units finished, and so far, this has been slower than my tortoise Grundy. One of the most frustrating data lines since COVID-19 has been housing completion data. Of course, we all understood the delays during the pandemic, but those days are over. We need to ramp things up and so far, it hasn’t been spectacular.
Boston Appraisal
MAY 17, 2023
The process of determining a property’s market value is called a real estate appraisal. The person who appraises the property, the appraiser, physically inspects the property to measure it, take pictures of it, and make note of the condition and the quality of the construction. The appraiser also needs to be aware of the zoning regulations, city ordinances, and other restrictions that can affect the value of the property.
Inman
MAY 16, 2023
Office-to-residential conversions are on the upswing as remote work destabilizes commercial real estate nationwide. "Everything is on the table," affordable housing advocate Janan New told Inman.
Eyes on Housing
MAY 18, 2023
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the first quarter of 2023, single-family attached starts totaled 29,000, which is 19% lower than the first quarter of 2022. Nonetheless, over the last four quarters, townhouse construction starts totaled a strong 141,000 homes, which is only 3% lower than the prior.
Housing Wire
MAY 14, 2023
The rise of active listings in this spring housing market reminds me of a zombie slowly rising from its grave. Yes, we found the seasonal bottom for housing inventory on April 14, but this year’s rise in active listings has been tepid at best. Here’s a quick rundown of the last week: Total active listings grew 662 weekly, and new listing data is still trending at all-time lows.
DataMaster
MAY 17, 2023
Add comparable sales to the list of things Millennials have killed. We joke, of course, but the truth is Millennial – And yes, Gen Z – homebuyers have a way of thinking and behaving that is far different from what industry veterans are used to. It could be argued that this behavior is market-driven. To illustrate this point, Here’s the story of one Millennial homebuyer’s process.
Inman
MAY 16, 2023
Founded in 2004 and averaging $1.5 billion in sales, the former Windermere Homes & Estates franchisee is hanging a shingle with eXp Realty, broker-owner Rich Johnson announced on Monday.
Eyes on Housing
MAY 15, 2023
Over the first three months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 191,695. On a year-over-year (YoY) basis, this is 31.1% below the March 2022 level of 278,189. Year-to-date ending in March, single-family permits declined in all four regions. The Northeast posted a decline of 20.5%, while the West region reported the steepest decline.
Housing Wire
MAY 18, 2023
Existing home sales declined yet again in April, according to a report from the National Association of Realtors (NAR), released Thursday. After posting a surprise 14.5% monthly increase in February , existing home sales were back down again in March , a trend that continued into April, with existing home sales posting a 3.4% monthly decline to a seasonally adjusted annual rate of 4.28 million.
Realtor
MAY 17, 2023
iStock Before closing on a house, you need to get to the settlement table. You’re near the end of the process of selling your home, but don’t breathe a sigh of relief just yet. While it’s certainly true that you can let go of the anxiety of needing to show your home at any moment, you still need to cooperate with your buyer, the buyer’s agent, and the commitments made in the contract.
Inman
MAY 15, 2023
The Piano Man has decided to trade out his 26-acre Oyster Bay estate, complete with two outdoor pools and a helipad, in favor of spending more time in Florida with his family.
Appraiserblogs
MAY 15, 2023
Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie Mae is increasingly being referred to by some, if not many American Appraisers as The Fraudulator / Underwriter 2.0 (FU-2). To be clear it is not limited to the Collateral Underwriter (CU & CU-2) software.
Housing Wire
MAY 18, 2023
Mortgage rates increased this week as the debt limit impasse between the Republican-controlled House of Representatives and President Joe Biden ’s White House continues to cause uncertainties within the market. Rising rates and home prices come with affordability challenges, mainly for first-time homebuyers. However, some borrowers are getting used to the landscape and are pursuing homeownership, housing market experts said.
Eyes on Housing
MAY 17, 2023
A lack of existing inventory and stabilizing mortgage rates helped push single-family production up to the highest rate thus far in 2023 even as builders continue to deal with high construction costs, persistent labor shortages and tightening credit conditions for construction loans. Overall housing starts in April increased 2.2% to a seasonally adjusted annual rate of 1.40 million units, according.
Inman
MAY 16, 2023
According to Julia Lashay Israel, Keller Williams' head of inclusion and belonging, by fostering an inclusive and equitable housing market, real estate businesses can attract a diverse clientele, enhance their reputation and contribute to a more prosperous society.
Appraiserblogs
MAY 18, 2023
The idea of unlicensed individuals being hired off the streets and paid a pittance to video and photograph the interiors of borrowers’ homes, which would include the exact location of valuables and children’s bedrooms, has been unsettling to some. An astute real estate broker recognized the name of a Michigan man awaiting sentencing in an armored-car robbery.
Housing Wire
MAY 18, 2023
Chicago-based technology company Gateless announced this week that Guaranteed Rate , a Chicago-based leading mortgage lender, has implemented its Smart Underwrite solution, a groundbreaking technology that aims to transform the borrower experience. In a fast-paced real estate market, many potential homebuyers miss out on their dream homes due to the lengthy mortgage approval process.
Eyes on Housing
MAY 17, 2023
Single-family built-for-rent construction has cooled as investor interest has pulled back on tighter financial conditions. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 14,000 single-family built-for-rent (SFBFR) starts during the first quarter of 2023. This is almost 7% lower than the first quarter of 2022.
Inman
MAY 18, 2023
On May 8, Gov. Ron DeSantis signed Senate Bill 264. The new law restricts real estate purchases in the state by citizens of China, Russia, Iran, North Korea, Cuba, Venezuela and Syria.
Riverfront Appraisals
MAY 18, 2023
So this may be a slight break from the norm, as it’s not an actual FAQ that we get, but the spirit is there. I get asked questions or hear statements like the ones we’ll cover today, all the time. And it got me thinking recently: homeowners are applying what they think is human logic […] The post FAQ # 18: Why Don’t Appraisals Follow Common Sense?
Housing Wire
MAY 17, 2023
After falling 0.8% in March , housing starts were back up again in April, according to a report released Wednesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). Home starts checked in at an estimated annual pace of 1.401 million in April, up 2.2% month over month. Despite this increase, housing starts were down 22.3% on a yearly basis.
Eyes on Housing
MAY 18, 2023
Existing home sales fell to three-month low in April as limited inventory and fluctuating mortgage rates continued to weight on homebuyers, according to the National Association of Realtors (NAR). With inflation continuing to ease and rent growth expected to slow, existing home sales will rebound, despite the recent declines.
Inman
MAY 16, 2023
Door-knocking can feel invasive, and some agents might even find it a little intimidating. Coach and trainer Darryl Davis offers a variety of great alternatives with solid ROI.
Realtor
MAY 15, 2023
Getty Images If you need a mortgage to buy a home you have your eye on, it’s standard for your lender to order an appraisal of the property. But when your lender says it’s ordering a hybrid appraisal instead of a traditional appraisal , what does that mean exactly ? Here’s what you need to know about this newer appraisal method and how it works to determine the value of the home you want to buy.
Housing Wire
MAY 16, 2023
Ann Arbor, Michigan-based Home Point Capital did not experience the traditional ceremony to ring the Nasdaq Stock Market bell when the company went public in early 2021. Open and closed ceremonies usually occur at the Nasdaq MarketSite Studio in Times Square, but that changed in the wake of the COVID-19 pandemic. Instead, Home Point had a virtual ceremony, with pictures of smiling employees and a message from CEO and founder Willie Newman transmitted onto an enormous screen in Times Square.
Eyes on Housing
MAY 18, 2023
The National Association of Home Builders (NAHB) redesigned its Multifamily Market Survey (MMS) in the first quarter of 2023 to make it easier to interpret and more similar to the NAHB/Wells Fargo Housing Market Index (HMI) for single-family housing. The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 50 for the first quarter while.
Inman
MAY 19, 2023
Netflix's fan favorite is back with Season 6 (and Season 7 is coming!) Here's everything you never knew you needed to know about the series, its cast and The Oppenheim Group.
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