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.

Sellers 339
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.

Valuation 370
Insiders

Sign Up for our Newsletter

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

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.

Inventory 430
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.

article thumbnail

Housing Affordability Hits Record Low but Turning Point Lies Ahead

Eyes on Housing

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.

Appraisal 150

More Trending

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?

Clients 136
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.

article thumbnail

Spear Throwers Using Census Data as Evidence for Bias

Appraiserblogs

I’ve previously written about how the various spear throwers at appraisers have used ‘census tract data’ in their assertions that appraisers are racially biased. It’s been done by Freddie Mac, by Andre Perry in his testimony before Congress, by Ph.D

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.

Inventory 385
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.

Brokerage 167
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.

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.

Business 116
article thumbnail

Housing affordability is improving, but there’s more work to be done: experts

Housing Wire

With a turbulent housing market and a volatile rate environment playing out over much of the past year, concern about housing affordability has hit a fever pitch.

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 161
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.

Lending 167
article thumbnail

“Valuable” Advice From an AMC

Appraiserblogs

The person who espouses this super valuable ‘advice’ does not have an appraiser’s license… Appraisers, if you think I’m serious about the message subject line, please reconsider!

Valuation 108
article thumbnail

MBA urges removal of DTI-based LLPA

Housing Wire

The Mortgage Bankers Association (MBA) urged the Federal Housing Finance Agency (FHFA) to remove the addition of a debt-to-income loan level pricing adjustment (LLPA) in Fannie Mae and Freddie Mac ‘s pricing framework.

Realtors 356
article thumbnail

Why LEED-certified residences are so rare — but growing in popularity

Inman

It’s no surprise that for today’s eco-conscious buyers, LEED-certified residences represent a prize like no other. However, for now, such homes are a rarity. Here’s a closer look at why that’s the case, and why it could be changing.

Buyers 158
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.

article thumbnail

Mokena, South Tinley Park, Frankfort and New Lenox Housing Trends

Advanced Appraisal

02/01/2023

Appraisal 147
article thumbnail

Mr. Cooper closes deal to acquire investment firm Roosevelt Management Company

Housing Wire

Nonbank mortgage lender and servicer Mr. Cooper has signed a definitive agreement to acquire the investment management firm Roosevelt Management Company, LLC., the company confirmed on Friday. The deal also includes the operations for affiliated company Rushmore Loan Management Services, LLC.

Investing 343
article thumbnail

Price growth slowdown continued in December as mortgage rates peaked

Inman

Home price growth fell 0.4 percent between November and December, while year-over-year single-family price growth dropped to 6.9 percent, according to new data released Tuesday by CoreLogic. Markets & Economy Select corelogic home price growth home price index home prices HPI price growth

Mortgage 151
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%.

Mortgage 141
article thumbnail

Your Trade Has Been Under Assault for Years!

Appraiserblogs

Your trade has been under assault for years. The de minimus rule was the first I sensed of the end of your trade. I am going off of vague memory but I think it was 1997, and at the time, the near majority of my town was below the $250,000 threshold, as were 90% of the towns adjacent.

Appraisal 101
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.

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 150
article thumbnail

OMB Proposes Standards on Building Materials Made in America

Eyes on Housing

The Office of Management and Budget (OMB) has proposed new standards to determine if construction materials for federally funded infrastructure projects are made in the USA.

article thumbnail

How to Retire: A Guide for Real Estate Appraisers

McKissock

At what age will you be able to retire? Could you retire right now? Should you? How can you know? If you are an independent appraiser, these can be particularly hard questions to answer, since you may be mostly or entirely responsible for setting up your retirement plan.

article thumbnail

The CFPB puts mortgage comparison sites on notice

Housing Wire

The Consumer Financial Protection Bureau (CFPB) is putting mortgage comparison sites on notice, laying out scenarios regarding how certain platforms could be violating the Real Estate Settlement Procedures Act (RESPA) section 8.

Mortgage 339
article thumbnail

Broker Spotlight: Ivan Chorney, Ivan & Mike Team, Compass

Inman

This week, the spotlight shines on Ivan Chorney, a Miami broker specializing in luxury real estate developments. Brokerage Luxury Lens Service broker spotlight Ivan Chorney luxury real estate Miami real estate

article thumbnail

50% Rule Imperils Rebuilds in Hurricane-Hit Areas

Empire Appraisal Group

50% Rule Imperils Rebuilds in Hurricane-Hit Areas NEWS & MEDIA felixmizioznikov / Getty Images Source: 50% Rule Imperils Rebuilds in Hurricane-Hit Areas | Florida Realtors 50% Rule Imperils Rebuilds in Hurricane-Hit Areas By Derek Gilliam Some SW Fla.

article thumbnail

Witnesses give testimony at D.C. hearing on appraisal bias

Valuation Review

#Washington #nationscapitol, #appraisalsubcommittee #hearing #appraisalbias #coverage

article thumbnail

How LOs can leverage their sphere of influence

Housing Wire

The 2023 market is unlike those we’ve seen in previous years. We’re coming off of back-to-back years where mortgage rates were in the 2s and 3s, and they’re now in the 6s. In a market like this, every lead, loan and basis point matters more than ever for LOs.