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

article thumbnail

Sellers have been sitting out of the housing market too

Sacramento Appraisal Blog

There is so much talk about buyers sitting on the sidelines right now, but let’s talk about sellers who are also sitting. This is a local trend, but it’s something showing up in many markets across the country also. UPCOMING (PUBLIC) SPEAKING GIGS: 2/8/23 SAFE Credit Union “Snacks & Facts” (for RE) (register here) 3/06/23 […] The post Sellers have been sitting out of the housing market too first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

Sellers 325
article thumbnail

Housing Market Tracker: Inventory and purchase applications data fall together

Housing Wire

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. Let’s dive into the trend lines of the housing market. First, here is a quick housing market rundown from last week : Purchase application data was negative 10% week to week — but still positive for the year Housing inventory decreased by 8,664 units, a more extensive inventory decline than we saw in the prior week The 10-year yield had a wild week, and mortgage rates d

Inventory 462
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ban Multiple Regression?

George Dell

Multiple regression works very well under some conditions. We ask: Are these conditions true in most real property valuations? This is actually a vast topic, so we can only reflect on some of the conditions or assumptions which are required for a multiple regression to be valid. Much (if not all) “advanced” appraiser education makes […] The post Ban Multiple Regression?

Valuation 370
article thumbnail

Why You Should Hire Professionals to Measure Your Home

Cleveland Appraisal Blog

As a Home Measurement Specialist, this article is close to my heart! This week my regular guest blogger, Betty White from Moving Offices San Diego , offers some reasons why you should hire a professional to measure your home as well as to remodel it. I hope you find some helpful information in this article! There are many benefits to hiring an expert to measure your home, and there are two most obvious reasons for that.

article thumbnail

For many NFL players, real estate is a career worth tackling

Real Estate News

In football, a competitive drive and strong work ethic are key to success. No wonder players turn to careers in real estate, which requires similar traits.

article thumbnail

UWM names Andrew Hubacker its new CFO

Housing Wire

Michigan-based United Wholesale Mortgage (UWM) has named Andrew Hubacker as its chief financial officer, the company announced on Monday. Hubacker joined the mortgage lender in October 2020 as chief accounting officer. He became an interim principal financial officer in July 2022 following the death of Timothy Forrester. Forrester served as UWM’s CFO for 10 years.

Finance 405

More Trending

article thumbnail

When You’re Up A Creek, Cross It

The Appraiser Coach

We often have experiences that teach us principles of life or business—or in this case, both. And the power of an analogy is such that it can apply to a.

Business 150
article thumbnail

Brokerage Beat: Christie's coast-to-coast growth, EXIT's big bonuses, more

Real Estate News

Christie's expands in California and Boston, E&V snags Bay Area leaders, The Agency opens in Portugal, Cupid loves Side, RE/MAX grows and more brokerage news.

Brokerage 238
article thumbnail

Northpointe Bank to shutter its correspondent lending business

Housing Wire

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. “Due to the significant contraction in the overall mortgage industry, we have made the difficult decision to exit the correspondent lending business,” Chuck Williams, president and CEO, said in a statement.

Lending 383
article thumbnail

The Aging Housing Stock

Eyes on Housing

The median age of owner-occupied homes is 40 years, according to the latest data from the 2021 American Community Survey[1]. The U.S. owner-occupied housing stock is aging rapidly especially after the Great Recession, as the residential construction continues to fall behind in the number of new homes built. With a lack of sufficient supply of new construction, the aging housing.

article thumbnail

Most homebuyers forking out big bucks to buy down mortgage rate

Inman

While mortgage rates have eased and home prices have fallen in many markets, affordability "still has a stranglehold on much of the market," according to research released Monday by Black Knight.

Mortgage 167
article thumbnail

Reality Check: How 'real' is real estate reality TV?

Real Estate News

Jason and Molly Mesnick, real estate agents and "The Bachelor" alums, offer their take on the deals and drama on some of the hottest real estate shows today.

article thumbnail

Housing affordability ends 2022 at record low

Housing Wire

Housing affordability hit a record low in the fourth quarter of 2022, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday. At the end of the fourth quarter, the index stood at its lowest level since the NAHB began tracking the data on a consistent basis in 2012. Despite this, the NAHB is optimistic that the recent drop in mortgage rates over the past two months might signal that affordability conditions may have reached their low point f

article thumbnail

Age of Housing Stock by State

Eyes on Housing

According to the latest data from the 2021 American Community Survey (ACS), the median age of owner-occupied homes was 40 years. The age of the housing stock is an important remodeling market indicator. Older houses are less energy-efficient than new construction and ultimately will require remodeling and renovation in the future. Moreover, as people use their homes for more purposes.

article thumbnail

The Agency expands further into Europe with new Portugal franchise

Inman

The new Lisbon office follows The Agency's first foray into Europe — in The Netherlands — last spring. The office will be led by Managing Partner Ayres Neto, The Agency revealed to Inman.

article thumbnail

Most metros still seeing annual price gains

Real Estate News

NAR's quarterly home price report found that prices were up year-over-year in nearly 90% of major metros, though the pace of appreciation has slowed.

238
238
article thumbnail

Guild acquires small retail lender Legacy Mortgage

Housing Wire

Acquisitive lender Guild Mortgage on Tuesday announced the acquisition of Legacy Mortgage , increasing its footprint in the Southwest. Publicly traded Guild is picking up Legacy’s 13 branches across four Southwest states – Arizona, Colorado, New Mexico and Texas. Terms of the deal were not disclosed. “This acquisition is part of the company’s continued plan to grow both in existing markets and by entering new ones with selective acquisitions of like-minded lenders,” Guild CEO Mary Ann McGa

Retail 383
article thumbnail

Loan Demand Declines as Credit Standards Tighten in Q4 2022

Eyes on Housing

According to the Federal Reserve Board’s January 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the fourth quarter of last year—banks reported weaker demand for residential real estate (RRE) loans, home equity lines of credit (HELOCs), and commercial real estate (CRE) loans. Additionally, credit standards tightened across all categories of mortgage loans.

article thumbnail

Regulators fire warning shot over bow of mortgage comparison sites

Inman

The Consumer Financial Protection Bureau warned on Tuesday that operators of mortgage comparison-shopping platforms may be violating RESPA if they manipulate search results to coerce kickbacks.

Mortgage 161
article thumbnail

How top brokerages are investing in better pipelines for agents

Real Estate News

RE/MAX, KW and Compass are among the companies customizing and rolling out a new generation of CRMs for their agents and broker-owners.

Agents 251
article thumbnail

Could the assumable mortgage level the playing field?

Housing Wire

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022. The duality of the Fed has resulted in a mortgage rate lockdown: homeowners with low mortgage rates aren’t motivated to sell when home prices are high and mortgage rates remain in the 6% range.

Mortgage 383
article thumbnail

Growth of Revolving Debt Slows, Auto Loan Rates Spike in Q4 2022

Eyes on Housing

The balance of consumer credit outstanding grew 6.5% in the fourth quarter of 2022 (seasonal adjusted annual rate) after climbing 6.7% (SAAR) in the third quarter according to the Federal Reserve’s latest G.19 Consumer Credit report. Revolving debt—which consists primarily of credit card debt—increased at a 12.0% rate, as the level of nonrevolving debt (excluding real estate) grew 4.8% (SAAR).

article thumbnail

Mapping out 253 cities with quarterly declines in home value

Inman

Where are home prices falling? Let's map out the 253 cities that saw quarterly declines in the final three months of 2022. But there are indications that this isn't a repeat of the 2008 crash.

article thumbnail

Housing Market Decoded: Have mortgage rates peaked?

Real Estate News

Zillow Chief Economist Skylar Olsen looks at the state of mortgage rates and ways agents can help buyers and sellers in this rebalancing cycle.

article thumbnail

Get ready for HousingWire Annual 2023

Housing Wire

Get ready for Housingwire Annual 2023. Join us on October 10-12, 2023 in Austin, Texas for the ‘All Things Housing’ event of the season. The whole team at HW is so excited to be hosting this event in our home state. During last year’s conference, we explored ‘All Things Housing’ in Scottsdale, Ariz. Attendees heard informative and exciting sessions by speakers like Ryan Serhant, Logan Mohtashami, Sandra Thompson and Bill Lyons.

article thumbnail

Mortgage Activity Increases after Dip in Rates

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending February 3rd, total mortgage activity increased 7.4% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell one basis point to 6.18%. The FRM rate has fallen around 100 basis points since October of 2022.

Mortgage 133
article thumbnail

Broker Tamir Shemesh lands at Nest Seekers after SERHANT. exit

Inman

Following the announcement of his untimely departure from SERHANT. after just one year, Tamir Shemesh has now joined Nest Seekers International, his fourth brokerage in the past six years.

Brokerage 160
article thumbnail

Teams on the Move: Douglas Elliman, Realogics, Real and Corcoran gain teams

Real Estate News

The latest movers: Joni Shore Group, Robyn + Rachel Group, The Barron Team, The Prince Team.

222
222
article thumbnail

Anthony Hsieh is fighting with the loanDepot board

Housing Wire

loanDepot founder and chairman Anthony Hsieh has decided to use his majority voting power to unilaterally nominate Steven Ozonian for election to the board of directors, exposing a dispute with other board members, the company disclosed in a regulatory filing on Tuesday. The decision on the new board member will be made in the company’s 2023 annual stockholders’ meeting, during which Hsieh intends to vote all of his shares in favor of Ozonian.

article thumbnail

ASC Data Breach Involving Social Security Numbers

Appraiserblogs

On October 13, 2022, the Appraisal Subcommittee discovered a data breach that occurred on the new ASC.gov website. The incident involved Social Security Numbers. They made an announcement on January 24, 2023 and have contacted all State Appraiser Regulatory Agencies concerning the data breach. They are also notifying all individuals whose Personal Identifiable Information had potential for exposure.

Appraisal 120
article thumbnail

Douglas Elliman enters Wellesley, MA, bringing on Joni Shore Group

Inman

The move into Wellesley will be bolstered by Joni Shore's three decades-plus career in real estate, which now exceeds $600 million in sales volume, according to news revealed exclusively to Inman.

article thumbnail

Mortgage rates up slightly following jobs report, Fed rate hike

Real Estate News

Volatility may be the norm for the near future, but mortgage interest rates remain down significantly from their November peak.

Mortgage 144
article thumbnail

Borrowers opt for permanent rate buydowns amid affordability challenges

Housing Wire

Home prices growth and mortgage rates have come down from the peaks in 2022, but affordability still remains a challenge. In turn, borrowers who are entering the market are leaning heavily toward buying down their first lien interest rates by paying points up front. In the third week of January, 57% of all borrowers who locked in rates paid at least a half-point, 44% paid at least a full point and nearly a quarter lowered their mortgage rates with buydowns of two points or more, according to Bl

Inventory 383
article thumbnail

FAQ #6: Can An Appraisal Be Readdressed To A New Client?

Riverfront Appraisals

Realtors, remember the last time your buyer switched lenders at the last minute? I bet you were hoping you could just use the old appraisal, right? Lenders, how many times have you reached out to the appraiser and asked them to change the name on their appraisal from the original lender to the new? This […] The post FAQ #6: Can An Appraisal Be Readdressed To A New Client?

Clients 114