Sat.May 29, 2021 - Fri.Jun 04, 2021

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Should you buy a home in a super-hot housing market?

Housing Wire

The world has been dealing with a significant health crisis since the beginning of 2020. This has provided the American bear troll crowd numerous opportunities to pontificate about a likely long-lasting depression. If you bought into the theories being peddled by this crash-cult crowd (who, by the way, have been infecting the discourse of economics since the creation of social media and YouTube channels) then you would have believed that the second housing market bubble crash was imminent during

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Everything is selling $100K over the list price (not really)

Sacramento Appraisal Blog

The market is nuts and everything is selling $100K over the list price!! We hear that quite a bit, but how true is it? Today I have some new visuals to help answer this question. If you’re not local, would your market look similar? Two new visuals. What do you think? Below the list price: […].

Marketing 376
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New Legislation and Appraisers with Bill Garber

Appraisal Buzz

In today’s Buzzcast, we dive into the topic of the new legislation happening and how it’s affecting appraisers. Today we have Bill Garber, Director of Government and External Relations from The Appraisal Institute giving a deeper look with Joan Trice, Founder of Allterra Group, LLC. They delve into the specific changes that appraisers need to know. What is the Valuation Fairness Act?

Appraisal 370
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When Should We Put Technology Aside?

The Appraiser Coach

I woke up to a text the other morning from one of my employees. The text had been sent at 12:30 AM! Now, I turn my phone off at night. Read More.

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Fewer people are submitting mortgage applications

Housing Wire

Mortgage applications dropped for the second straight week , this time down 4% for the week ending May 28, 2021, according the Mortgage Bankers Association ‘s weekly mortgage applications survey. This week’s data was compared to mortgage applications from the week of Memorial Day in 2020. The overall housing index hit its lowest point since February, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

Mortgage 543
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Judgment Based or Evidence Based?

George Dell

Appraiser training tells us to use good judgment – repeatedly. In fact, the word ‘judgment’ is used over 300 times in the current USPAP book. It must be important. It’s also used some 800 times in The Appraisal of Real Estate. It must be important. The basis of appraisal theory in the United States is […]. The post Judgment Based or Evidence Based?

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The Aging Housing Stock

Eyes on Housing

The median age of owner-occupied homes is 39 years, according to the latest data from the 2019 American Community Survey. Compared to a median age of 31 years in 2005, the U.S. owner-occupied housing stock is aging gradually. The residential construction continues to fall behind in the number of new homes built especially after the Great Recession. This aging housing.

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Biden tax credit to rehab homes is finally unveiled

Housing Wire

The Biden administration announced proposals to combat the racial wealth gap , including a tax credit to rehab homes for low and moderate-income homebuyers as part of the trillion dollar infrastructure package. The White House announced the measures ahead of a trip President Joe Biden made to Tulsa, Oklahoma to honor survivors of the Tulsa Race Massacre.

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Market Conditions- How do appraisers adjust for time in rapidly increasing markets?

DW Slater Company

If you are like me, you are probably tired of hearing the word “unprecedented” How many times have we said it or read it this past year? What is another word we can use? Remarkable? Extraordinary? Phenomenal? However we describe we are currently experiencing rapidly appreciating real estate markets. Not just in our local North Texas markets but in many places nationwide.

Appraisal 158
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Average Rate For 30-Year Mortgage Continues to Hover Around 3 Percent

Appraisal Buzz

The average rate for a 30-year, fixed-rate mortgage inched up slightly this week but remains below 3% at 2.99%, according to Freddie Mac’s Primary Mortgage Market Survey. . That’s up from 2.95% last week but down from 3.18% a year ago. “Home prices continue to accelerate while inventory remains low and new home construction cannot happen fast enough,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 369
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Solid Job Gains in May

Eyes on Housing

Job gains accelerated in May as vaccination rates increased and COVID-19 restrictions lifted. Total payroll employment rose by 559,000 and the unemployment rate decreased to 5.8% in May. In May, non-residential construction lost 21,800 positions, reflecting declines in nonresidential specialty trade contractors (-16,800), while residential construction employment rose by 1,900.

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Regardless of price, Austin homes still flying off the market

Housing Wire

Austin is still the nation’s hottest housing market, as tech workers continue to flock to the Lone Star State’s capital. In 2021 alone, 1,440 Austin homes have sold for between $100,000 and $299,999 above asking price, and 72 have already sold for $300,000 or more above asking price, per a recent study from Redfin. At this time last year, only two homes had been sold in Austin for more than $300,000 above asking price.

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You’re on the Menu

Appraiserblogs

“If you don’t have a seat at the table, you are on the menu…” Would it be misleading to disclose you performed a personal inspection of a property done with significant appraisal assistance in which you relied on supported demographics? Well maybe… The Appraisal Foundation has issued a discussion draft to answer this question and others similar to it and wants your opinion.

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Race and the Property Valuation Industry

Appraisal Buzz

Many of you reading this are probably familiar with this case that recently went viral. A husband and wife requested a bank appraisal to refinance their Jacksonville, Florida home. The wife is African American, and her husband is white. Only the wife was at home to greet the appraiser when they arrived to inspect her home. When the couple received the final appraisal report of their home’s value, they were shocked!

Valuation 370
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President Biden Takes on Racist Home Appraisals That Hurt Black Homeowners

Realtor

Getty Images President Joe Biden took another step toward addressing the persistent discrimination in housing and business that has been holding generations of Black Americans back from building wealth that can be passed down to future generations. Biden’s administration announced on Tuesday it was launching an interagency effort to combat unfair appraisals for homeowners of color and fight inequality in the real estate sector.

Appraisal 113
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FHFA extends forbearance for rental properties

Housing Wire

The Federal Housing Finance Agency (FHFA) has extended forbearance options for multifamily properties through the end of September. The options to put off debt payments for federally-backed multifamily properties had been slated to expire at the end of June. The regulator also extended protections for tenants that property owners must adhere to in order to access forbearance.

Tenants 471
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Has Appraising Failed the Public Good?

Working RE

“One of the best courses that I have had in 17 years!” -Amy H >> OREP E&O ????? “They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Editor’s Note: Take the NEW 2021 Appraiser Fee Survey online now at WorkingRE.com/2021survey. Has Appraising Failed the Public Good? by Steven R.

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Mortgage Application Volume Hits 15-Month Low; Rates Wait For Motivation

Appraisal Buzz

The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, fell again during the week ended May 28. It was the 15 th time the index has retreated in the 21 weeks since the year began. The Index decreased 4.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5 percent compared with the previous week.

Mortgage 369
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5 Reasons Why Banking on the Future of Retail Rental Space is a Brainy Choice

The Robert Weiler Company

Just as many today predict an all-digital retail environment, a final death blow to brick-and-mortar retail rental space, so have they expected the long-coveted “paperless office.” Nearly 50 years ago, in a Business Week article titled, “The Office of the Future,” writer Vincent E. Giuliano typed out a reasonably prophetic sentence: “By 1990, most record-handling will be electronic.”.

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Supreme Court decision on FHFA expected at any time

Housing Wire

A Supreme Court decision which will determine if the Biden administration can fire the Federal Housing Finance Agency (FHFA) director will arrive before the month’s end. The court recently updated its calendar indicating its session will extend through the end of June. It has not yet specified when it will issue more opinions for the cases, like Collins v.

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The Ugly Truth: 4 Home Pricing Mistakes

McKissock

You know it all too well. When selling a home, your pricing strategy makes or breaks your chances for a quick sale. Pricing isn’t always a simple, straightforward process, and can often waste time and money and lead to frustration for both you and the seller. Here, top real estate agents and brokers share the most common home pricing mistakes they see and how to fix them: Mistake #1: Ending a price in 9.

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A Market Analysis of the Housing Industry

Appraisal Buzz

In today’s Buzzcast, we dive into a market analysis of the housing industry and what will be facing appraisers within this coming year. Today we have Bill King, Chief Valuation Officer of Bradford Technologies with Joan Trice, Founder of Allterra Group, LLC. They delve into a deep discussion regarding the housing industry, bubbles, and what appraisers can expect in this climate.

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ProTip: Use This Feature to Collect Lien Waiver Signatures From Anyone

GoForrmz

Leverage our Public Forms feature to share links to your digital lien waivers with contractors, subcontractors, and others outside of your GoFormz account Lien waivers are a regular, critical occurrence for many operations – so why are so many businesses still relying on time-consuming, error-prone paper forms to share and collect these important documents?

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The wild housing market’s big winner? Homebuilders

Housing Wire

The Antelope Valley in northern L.A. county. It’s such a great time to build a home that companies are building in oil fields. Nary an eyelash was batted last month when two of the housing market’s biggest homebuilders – Pennsylvania-based Toll Brothers and Florida-headquartered Lennar –acquired 173 acres of land in Montebello, California from Sentinel Peak Resources , a company that owns oil development land up and down the Golden State.

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Insurance Costs Threaten Fla. Real Estate Boom

Empire Appraisal Group

Insurance Costs Threaten Fla. Real Estate Boom. Source: Insurance Costs Threaten Fla. Real Estate Boom | Florida Realtors. Homeowners across the state have experienced double-digit rate increases for insurance, while others have received notices that their policies will not be renewed. TALLAHASSEE, Fla. – Mounting insurance losses and rising premiums in Florida’s property-insurance market are threatening the state’s booming real estate market, according to insurance executives and in

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The Future of Millennial Homebuyers

Appraisal Buzz

Here’s how these important cohorts are differentiating themselves within the modern housing market. The post The Future of Millennial Homebuyers appeared first on theMReport.com. The post The Future of Millennial Homebuyers appeared first on Appraisal Buzz.

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8 Things to Know BEFORE Moving to Rolesville, NC

Raleigh Realty

Living in Rolesville, NC Moving to Rolesville? Here is what it is like living in Rolesville, North Carolina Are you considering a move to Rolesville, North Carolina? If you are looking for a home near the Raleigh area, Rolesville should be at the top of your list. Tucked away in northeastern Wake County, Rolesville is a suburb of Raleigh. Not only is the town the second oldest in Wake County, but it is considered one of the fastest-growing small towns in the state of North Carolina.

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Attention all first-time homebuyers: Here are some steps to affording a home

Housing Wire

Let’s be honest – affording a home isn’t always easy. In this market where homes are selling like hot potatoes, it might seem like everyone can afford to buy a house, but that’s not true. It takes time, money, energy, planning, money and more money to become a first-time homebuyer. Even with today’s low interest rates, affording a home can be a challenge.

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7 Reasons to Make The Switch From PDFs to Fillable Forms

GoForrmz

Digitally transform your operation with fillable digital forms, real-time data access, and new data types Many operations are still stuck on PDFs – making it hard to optimize their processes, improve the quality of collected data, and move beyond the very basics of data capture. Fortunately, digital, fillable forms provide a powerful alternative to PDFs, allowing operations to maintain the original formatting of their documents while leveraging the power of digital fields and form logic.

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Nations Lending Bolsters Its Corporate Training and Regional Leadership

Appraisal Buzz

In addition to two new regional appointments, Cleveland-based lender adds new corporate trainer to keep pace with regulatory changes. The post Nations Lending Bolsters Its Corporate Training and Regional Leadership appeared first on DSNews. The post Nations Lending Bolsters Its Corporate Training and Regional Leadership appeared first on Appraisal Buzz.

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President Biden Takes on Racist Home Appraisals That Hurt Black Homeowners

Realtor

Getty Images President Joe Biden took another step toward addressing the persistent discrimination in housing and business that has been holding generations of Black Americans back from building wealth that can be passed down to future generations. Biden’s administration announced on Tuesday it was launching an interagency effort to combat unfair appraisals for homeowners of color and fight inequality in the real estate sector.

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Profit margin decline suggests mortgage bonanza is waning

Housing Wire

Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks saw an average net profit of $3,361 on each loan they originated in the first quarter of 2021, down from a reported gain of $3,738 per loan in the fourth quarter of 2020, according to a new report from the Mortgage Bankers Association. The average pre-tax production profit was 124 basis points, down from an average net production profit of 137 bps in the fourth quarter of 2020, but up on a yearly basis from the 61 basi

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Customer Success Story: Balmain & Co

GoForrmz

Balmain & Co leverages the Public Forms feature and the Procore integration to streamline their post-construction workflow. “ If there is something concerning a resident, we want to be able to fix it as soon as we can and as efficiently as we can. GoFormz is improving that process drastically, where we are now providing a means for these people to be able to report their issue and for us to be able to act on it straight away. ” — Mick O'Connell, Construction Manager, Balmain

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Demand for Luxury Homes on the Rise

Appraisal Buzz

Economic recovery for wealthy Americans seems to be occurring at a more rapid clip, as a recent Redfin report finds a spike in the sale of higher-end homes. The post Demand for Luxury Homes on the Rise appeared first on theMReport.com. The post Demand for Luxury Homes on the Rise appeared first on Appraisal Buzz.

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