Sat.Mar 04, 2023 - Fri.Mar 10, 2023

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No Appraisals Required. The End of Appraisers?

Appraiserblogs

No appraisal may be required in the future! Fannie Mae took a direct shot at appraisers with the announcement of changes in their Selling Guide. Two options for the future, both of which do great harm to the appraisal industry. First, “third party” inspections. Appraisal trainees aren’t good enough, so now we will have unlicensed inspectors going through the homes of unsuspecting homeowners.

Appraisal 112
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Housing Market Tracker: Inventory drops by 11,000

Housing Wire

The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. Here is a quick rundown of the last week: Purchase application data was down 6% weekly. Weekly inventory fell much more than the previous two weeks, down 11,021; new listing growth had its lowest weekly calendar print for this previous week.

Inventory 509
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A spring bump in the housing market

Sacramento Appraisal Blog

It’s a bump. Do you feel it? The housing market has been waking up in 2023, and we’re starting to see an uptick in lots of different stats. Let’s talk about it. This post is designed to skim quickly or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 3/10/23 PCAR Market Update Lunch & Learn 3/24/23 How to Think Like […] The post A spring bump in the housing market first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Can Appraisers Protect Minorities?

George Dell

Bias against minorities has been “proven” against property value message measurers – at least once. It has also been “proven” that the undervaluation is as much as $500, on average. Something must be done! Let’s blame the appraisers! They keep on “determining” values too low! Does the flurry of blame-placing help resolve the problem? But […] The post Can Appraisers Protect Minorities?

Appraisal 195
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The Principle of Saving

The Appraiser Coach

No matter what you call it – pay yourself first, save, setting money aside for a rainy day – making sure you take the.

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Former LO sues Celebrity over unpaid salaries in class-action lawsuit

Housing Wire

Illinois-based mortgage lender Celebrity Home Loans and its parent company Celebrity Financial, Inc. are the target of a class-action-seeking lawsuit. A former employee is suing the companies, alleging they “abruptly terminated hundreds of its employees” without giving legally required 60-day advance notice as required by the Worker Adjustment and Retraining Notification Act ( WARN Act ).

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Gary Keller’s 6 steps for doing more in today’s market

Inman

In this shifting market, agents will have to do more to achieve the same results they were getting before, writes Adam Hergenrother. Here, he breaks down Gary Keller’s formula for doing more and how you can take action to do more and achieve more this year.

Marketing 167
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Marin City Discrimination Case Settled

Appraiserblogs

It’s unfortunate that this case was SETTLED in the way it was, because in reality, nothing about racial discrimination and disparate treatment was actually proven at a full trial… The first case that’s been adjudicated claiming appraiser discrimination has been SETTLED by the defendant appraiser and the plaintiffs, with the judge “dismissing all claims with prejudice”, meaning it cannot be re-opened by the plaintiffs, but it can be appealed to a higher court by the defendant.

Appraisal 119
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Fannie Mae rumored to be looking at forgoing title insurance

Housing Wire

The title insurance industry is often bemoaned for being antiquated and making minimal changes, but that has not been the case for the past 12 months. Nearly a year after announcing that it would begin accepting attorney opinion letters (AOLs) in lieu of title insurance in limited circumstances, Fannie Mae is yet again making waves in the title insurance industry.

Insurance 403
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Remodelers’ Average Net Profits are Down, NAHB Study Shows

Eyes on Housing

Residential remodeling companies, just like any other private enterprise in a capitalist economy, exist to satisfy the demand of consumers for specific products or services in exchange for a rate of profit commensurate with the risk taken. Companies control when they enter or exit the industry, but their financial performance is intrinsically linked to external factors, such as the number.

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AI will upend content marketing. 4 ways to stay ahead of the curve

Inman

Focus on creating high-quality pieces that resonate with your target audience and meet their evolving needs. With the right approach, you can stay ahead of the curve in the age of AI-powered search engines.

Marketing 167
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Does the Home You Want To Buy Qualify for a USDA Loan? Here’s How To Tell

Realtor

Vecteezy While most homebuyers know that they’ll need to meet certain requirements to get a home loan, in some cases the house must pass certain standards, too. This is definitely the case if you’re considering a USDA loan from the Department of Agriculture. USDA loans can be a boon to homebuyers due to their fairly lenient qualifications for homebuyers’ incomes and credit scores.

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Guaranty Home Mortgage opens new retail branches in Tennessee

Housing Wire

Guaranty Home Mortgage Corporation (GHMC) on Monday announced its expansion with three new licensed retail branches in Tennessee. The new branches are located in Brentwood, Lebanon and Chattanooga. GHMC originates and purchases loans through multiple channels. The expansion is part of the company’s strategy to grow its presence and focus on residential mortgage lending.

Retail 403
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Mortgage Activity Increases Despite Mortgage Rate Volatility

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending March 3rd, total mortgage activity increased 7.4% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose eight basis points to 6.79%. The FRM rate has risen 61 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose.

Mortgage 161
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There are 1.25 million fewer million-dollar homes in America in 2023

Inman

The share of $1 million homes in the U.S. dropped from a high of 8.6 percent in June 2022 to approximately 7 percent in January, due in part to higher mortgage rates that have cut into homebuyer purchasing power.

Mortgage 167
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Speed Regardless of Accuracy Under the Banner of Modernization

Appraiserblogs

Appraisers, something – comparing and contrasting – dawned on me last week, after reading another news release titled “Dean Kelker: Appraisal Modernization is Starting to Gain Momentum“, which is basically pushing an “Enterprise” singular ‘agenda’ of valuation speed regardless of accuracy. Under the banner of “modernization.” VA does not demand appraisers complete assigned appraisal assignments extraordinarily quickly.

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The housing market faces a three-pronged challenge

Housing Wire

Growing supply shortages are holding housing prices higher, and affordability constraints coupled with elevated rates lock potential sellers in place. Home prices fell in January, pulling back by 0.24% from December to mark the smallest monthly decline in seven months, according to Black Knight ‘s mortgage monitor report. The annual home price growth rate fell to 3.43% in January, more than a full percentage point below the 30-year average.

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Households’ Real Estate Asset Value Falls for First Time Since 2012

Eyes on Housing

The most recent release of the Z.1 Financial Accounts of the United States shows a decrease in the value of households’ real estate assets over the fourth quarter of 2022. As home prices begin to decrease from pandemic highs, households’ real estate asset value fell for the first time since the first quarter of 2012. The level of households’ real.

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Egypt Sherrod is married to real estate. But that’s only half her story

Inman

Inman's inaugural Influencer ran from real estate as a kid because it was all her family talked about. But with four TV shows, a podcast and a team under her belt, she lives and breathes it in 2023.

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FAQ #10: What Do I Need To Do About Peeling Paint?

Riverfront Appraisals

Recently, I had this question come up from a loan officer. We had just appraised a home they were lending on, and we completed an FHA appraisal. While the house was ok, there was an old storage building on site that had peeling paint on the interior and exterior. We had to call for the […] The post FAQ #10: What Do I Need To Do About Peeling Paint?

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Home Point Capital seeks new CFO amid efforts to improve margins

Housing Wire

Home Point Capital , the parent company of wholesale lender Homepoint , is seeking a successor to take over Mark Elbaum’s chief financial officer position. On February 24, Elbaum submitted his resignation as CFO, according to a March 1 8-K filing from the company. Elbaum’s resignation will be effective April 3 and he will continue to serve as CFO until that date to assist with Home Point Capital’s 10-K filing for 2022, the filing said.

Mortgage 403
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Job Gains Continue in February Amid Mixed Signals

Eyes on Housing

Job growth continued in February. After a revised 504,000 job gain in January, total nonfarm payroll employment increased by 311,000 in February, and the unemployment rate edged up to 3.6% from 3.4% in January. Wage growth increased to a 4.6% year-over-year gain from 4.4% last month, but down compared to February 2022. Today’s job report indicates that, overall, the labor.

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How to maintain a boutique feel as your brokerage expands

Inman

Growth is great, but a business is only as strong as its foundation. As you scale up, continue to prioritize the things that matter most — your clients, your team and your brand.

Brokerage 155
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Poke-and-Sniff: How U.S. Regulators Became Disease Vectors

Appraiserblogs

Poke-and-Sniff… Once federal bureaucrats embrace a destructive practice, it can take a lifetime to correct it. When government tries to Cobra Effect.” Occupational licensees and those in heavily regulated industries will recognize the pattern immediately. American high schools routinely teach Upton Sinclair’s novel “The Jungle.” Its publication more than a century ago led to the quintessential success story for federal regulation.

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Why mortgage rates fell with a stronger jobs report

Housing Wire

What a week this has been for the housing market , from the fireworks of Fed Chair Jay Powell’s Congressional testimony to an attempt to break over a critical line on the 10-year yield. Then Friday we got solid jobs and labor force growth data and the surprising failure of Silicon Valley Bank. Let’s look at each of these, one at a time. Fed Chair talk First, Federal Reserve Chairman Jerome Powell did not have his best week as he looked unsure of himself, like most Fed members have recently

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Significant Drop for Construction Job Openings

Eyes on Housing

The count of open, unfilled jobs for the overall economy declined slightly in January, falling to 10.8 million, after an 11.2 million reading in December, which was the highest level since July. The count of total job openings should fall in 2023 as the labor market softens and the unemployment rises.

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How bedroom design can deliver big ROI for your sellers

Inman

Bedrooms that promise great comfort and sanctuary can generate a visceral response. Well-designed bedrooms can inspire a heartfelt reaction that buyers won’t be able to ignore.

Design 155
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Southern Home Tour - Glimpses of the South

Hank Miller Team

Let's take a southern home tour Whether it is a historic home or new build, we love the architecture of the south. Our team member and resident photographer, Mary Miller, fills her Instagram (@glimpsesofthesouth) with beautiful southern homes that highlight their architectural details, gardens, and holiday style. She features Historic Marietta homes, Charleston homes, Downtown Woodstock homes include farmhouse style homes, cottage style and old southern mansions - we love them all Southern Home

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Fannie Mae approves six vendors for controversial new valuation initiative

Housing Wire

Fannie Mae has approved six firms to handle its new valuation initiative, which cuts traditional appraisers out of the process and potentially represents the biggest shift in the valuation space in years. Fannie Mae last Wednesday updated its Selling Guide to include more options for property valuations, saying that the GSE is “moving away from implying that an appraisal is a default requirement.

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7 Questions Residential Appraisers Ask Homeowners

Kairos Appraisal Services

When purchasing a home with a mortgage or refinancing, the transaction may require that a home appraisal inspection be done. This is because appraisals assure the lender that they are not issuing mortgages for more than what residential properties are worth. Appraisals are conducted by real estate appraisers, who must meet an educational requirement and… The post 7 Questions Residential Appraisers Ask Homeowners appeared first on Kairos.

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NAR appoints top-producing agent Jennifer Wauhob to leadership team

Inman

Jennifer Wauhob, who leads a 7-agent team for Better Homes and Gardens Real Estate Gary Greene in Houston, will take up the role of VP of association affairs following the death of Margo Wheeler earlier this year.

Agents 155
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[eBook] The Accountant's Guide to Implementing Technology Within Your Business

GoForrmz

Read our eBook all about upgrading your accounting business with the latest technology. Technology has quickly become one of the best ways to future-proof your business, and especially for accountants, is becoming a prerequisite for establishing trust with your clients. New technologies have the power to streamline processes, improve efficiency, and increase the overall profitability of your company.

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Mortgage rates climb as Fed signals more aggressive rate hikes

Housing Wire

Federal Reserve Chairman Jerome Powell sent a clear message during his U.S. Senate speech on Tuesday morning: Fed officials are likely to deliver higher rate hikes than previously expected to combat persistent inflation. “As I mentioned, the latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Powell said. “If the totality of the data were to indicate that faster

Mortgage 388
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Investment Tips: How to Grow Your Retirement Savings

McKissock

When it comes to growing your retirement savings, you may be wondering: What types of investment accounts should I use? And where should I locate them in order to utilize tax savings as much as possible? The real estate mantra “location, location, location” applies to retirement savings as well. Whether you’re a self-employed real estate appraiser or you work for a large company, here are some basic tips and guidelines on how to maximize your retirement savings.