Sat.Nov 26, 2022 - Fri.Dec 02, 2022

article thumbnail

Excess of Appraisers? Education

George Dell

The current excess of appraisers is the inevitable result of cyclical forces. The ups and downs persist due to the interaction of the five forces of friction: practices, standards, education, regulation, and client expectation. These five frictions reinforce and shield each other. They tag-team a rampart against risk/valuation reform, bank safety, and movement toward unbiased […].

Appraisal 195
article thumbnail

How smart home technology increases property value in a challenging market

Housing Wire

Over the past few years, we’ve seen an increased demand for smart home technology as consumers continue to embrace a digital lifestyle. “Smart home technology, whether it be keyless entry locks, smart thermostats or leak sensors, these are all things that, five or six years ago, were still pretty new to the marketplace,” said Andre Sanchez, COO of Rently, a smart home and self-guided touring solutions provider.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The housing market will get worse before it gets better

Sacramento Appraisal Blog

It’ll get worse before it gets better. That’s pretty much true in lots of ways in life. Going through the teenage years, recovering from injury, remodeling a kitchen… and enduring a housing downturn. Today I have a few things to share, and I hope this will be helpful (especially #3 as you look to 2023). […]. The post The housing market will get worse before it gets better first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

article thumbnail

Preparing For The Unexpected

The Appraiser Coach

I’ve been known to talk a lot about preparing for the unpredictable. A while back someone asked me a question about it. In essence their question was, “Dustin, how can. Read More.

article thumbnail

Home Prices Continue to Decline in September

Eyes on Housing

Home prices declined for the third straight month in September as the housing market continues to cool. In September, all 20 metro areas experienced negative home price appreciation. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, fell at a seasonally adjusted annual growth rate of 8.7% in September, following a 6.4% decline in.

article thumbnail

Is the market pivoting ahead of the Fed?

Housing Wire

The entire economic landscape, including mortgage rates, has changed this week, starting with the Fed’s talking points on Wednesday. The honey badger labor market is still going strong as we got another solid jobs report Friday, which pushed bond yields higher at first. However, the way the day ended showed that change is coming. We now have a better idea of what the Federal Reserve wants to do with their Fed rate hikes, and we have a lot of data that shows that the economy will look diffe

Marketing 509

More Trending

article thumbnail

Leaves & Prices Are Falling- November Newsletter

DW Slater Company

“A fallen leaf is nothing more than a summer’s wave goodbye.”-Unknown. Here in North Texas, we are finally starting to see the leaves turning colors and begin falling. It’s pretty but doesn’t last long and soon we will enter the bleak and gray winter months. I tend to make a comparison of the seasons with the housing market but it often works in tandem.

article thumbnail

U.S. Added 263,000 Jobs in November

Eyes on Housing

In November, job growth slowed slightly from the previous month but still showed strength despite tight monetary policy. The unemployment rate was unchanged at 3.7% in November as the number of persons in the labor force decreased for the third straight month. Total nonfarm payroll employment increased by 263,000 in November, following a gain of 284,000 in October, as reported.

article thumbnail

Wells Fargo makes further deep cuts to its mortgage division

Housing Wire

Wells Fargo , the largest depository mortgage lender in America, cut hundreds of home lending jobs across the country on Thursday. Bloomberg first reported the news of the layoff, which is just the latest round of cuts for a lender that’s been open about its retreat from the upper echelon of the mortgage rankings. The company declined to state how many jobs were shed on Thursday.

Mortgage 414
article thumbnail

Housing Market: What Does It Look Like Where You Live?

Padove Appraisal Service

Residential markets in Philadelphia, PA and its surrounding suburbs tend to be more conservative. Our local market has seen its share of price increases over the past couple of years however, at a lower rate than other parts of the country. We are not insulated from downward market conditions, but a more controlled upswing often translates into a less severe downswing.

article thumbnail

Buyers Waited for Falling Prices? Big Mistake

Empire Appraisal Group

Buyers Waited for Falling Prices? Big Mistake. Source: Buyers Waited for Falling Prices? Big Mistake | Florida Realtors. Some buyers waited for bargain homes that appeared after the Great Recession – but to counter higher mortgage rates, year-to-year prices have to drop 45%. CHICAGO – Despite slowing or falling home prices, rising mortgage rates are responsible for many first-time buyers still finding homes unaffordable.

Buyers 78
article thumbnail

AD&C Balances Continue to Rise

Eyes on Housing

Residential construction loan volume reached a post-Great Recession high during the third quarter of 2022, as home building activity and new home sales remained weak. Outstanding builder loan balances are rising as development debt is being held longer as new homes remain in inventory longer. Loan balances will decline in coming quarters as the development loan market becomes more costly.

article thumbnail

Stronger than expected job growth raises specter of more Fed hikes

Housing Wire

Defying economists’ expectations, job growth remained strong in November. Total nonfarm payroll employment rose by 263,000 jobs from October , according to data released Friday by the Bureau of Labor Statistics. So far this year, monthly job growth has averaged 392,000, down from an average of 562,000 per month in 2021. Even as the number of jobs continued to rise in November, unemployment remained unchanged from a month prior, holding steady at 3.7%, with 6.0 million persons unemployed.

article thumbnail

Digital Forms to Ease the Stress of Your Company Holiday Party

GoForrmz

Plan your holiday party with GoFormz ‘Tis the season and we’re here to spread holiday cheer! GoFormz is the all-in-one digital form platform that makes planning your company’s holiday party a breeze. Whether or not you already use GoFormz, it's easy to create and send forms that cover all the party basics. From sign-in sheets to gift raffles, GoFormz has you covered.

78
article thumbnail

5 Ways to Fast-Track Your Appraisal Career

McKissock

There are many reasons people choose to launch a career in real estate appraisal—including the potential to earn a high income, opportunity to work flexible hours, and low start-up costs compared to other small businesses, to name a few. Are you interested in starting an appraisal career? Or perhaps you’re a licensed appraisal trainee eager to upgrade your license and advance your career as quickly as possible?

article thumbnail

Construction Job Openings Peaked for Cycle?

Eyes on Housing

The count of open, unfilled jobs for the overall economy declined in October, falling from 10.7 million open positions to 10.3 million. This represents a small decrease from a year ago (11.1 million), a sign the labor market is slowing in response to tighter monetary policy. The degree of this slowing will be critical for a potential downshift in the.

article thumbnail

Fintech Hitch launches new HELOC platform

Housing Wire

Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Established at the start of 2022, Hitch will give qualified owners access to up to 90% of the equity locked in their homes, the company said Thursday. One of the biggest benefits for Hitch users is speed, the company said.

article thumbnail

[Webinar] Automate Your Business Tasks with GoFormz Workflows

GoForrmz

Solve repetitive business tasks with automation using GoFormz Workflows Is your workday filled with repetitive tasks like data entry, file sorting, and paperwork processing? Good news, there’s an easier way! For everyone who faces form-based data capture, GoFormz offers Workflows to automate your daily tasks, send your data where it needs to be, and even sort all your completed forms to designated cloud storage platforms.

article thumbnail

NAR: Appraisal License Equivalency Credit for RE Agents?

Appraisal Today

NAR Urges Appraisal Foundation To Establish Equivalency Credit for Education and Experience. Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. In a July 9, 2015, Concept Paper – Alternate Track to the Experience Requirements in the Real Property Appraiser Qualification Criteria, the AQB asked: “Are there practical alternatives for some (or all) of the appraisal experience requirements to include non-appraisal experience?”.

article thumbnail

The Boston Globe Names Lamacchia Realty a Top Place to Work for 2022

Lamacchia Realty

Lamacchia Realty has once again been named one of the Top Places to Work in Massachusetts in the 15th annual employee-based survey project from The Boston Globe. This is the second time the company has been honored. Lamacchia Realty was ranked #2 in the small employer category. In 2021 the company ranked #4. On Wednesday, November 30th, awards were given at the annual Boston Globe Top Places to Work 2022 Celebration.

Realty 74
article thumbnail

Government to backstop mortgages over $1 million in 2023

Housing Wire

The Federal Housing Finance Agency (FHFA) on Tuesday announced that the baseline conforming loan limit for 2023 will be $726,200, an increase of 12.21%, or $79,000, compared to 2022. . The federal government, through government sponsored enterprises Fannie Mae and Freddie Mac , for the first time ever will also back mortgage loans north of $1 million, with the new ceiling loan limit for one-unit properties in most high-cost areas at $1,089,300 — or 150% of $726,200.

article thumbnail

30-Day Stay: A Medium-Term Strategy For Long-Term Financial Freedom

BiggerPockets

If you are looking for a tactical investing roadmap on what medium-term rentals are and how to get started right away, 30-Day Stay: The Real Estate Investor’s Guide to Mastering […].

article thumbnail

The Latest Technologies Home Inspectors Use for More Thorough Inspections

Eppraisal

While in the process of purchasing a home, you are going to want to have a home inspection performed. It's a security blanket of sorts for you to be sure there aren't safety hazards and major defects in the home. Contracts to purchase homes have clauses in them that allow buyers to have a professional inspection performed, typically within the first five to ten days of signing the contract.

article thumbnail

The Balestracci Group Qualifies for 2022 Lamacchia Realty President’s Club

Lamacchia Realty

Elissa Comeau and Matthew Jette of The Balestracci Group have officially qualified for the 2022 Lamacchia Realty President’s Club by closing on 99 transactions as a team this year! Led by Mark Balestracci , this group of talented REALTORS® joined forces with Lamacchia back in March of 2022 and rose to the top very quickly! In their first year with Lamacchia Realty, they were listed multiple times in the Top 10 throughout the company and Top 5 in the Worcester office , most recently in Octo

Realty 74
article thumbnail

Mortgage group asks regulators to stop FICO’s price hikes of up to 400%

Housing Wire

Credit reports are getting a lot pricier, and some mortgage lenders are none too pleased about it. In a letter dated Nov. 22, the National Consumer Reporting Agency told its members that the “vast majority” of mortgage lenders would see price increases between 10% and 400% from Fair Isaac Corp. (FICO). The letter, signed by NCRA Executive Director Terry Clemans, said there would be “a wholesale price increase of less than 10% for the top tier of approximately 46 lenders, about

Mortgage 393
article thumbnail

Down but not out: Creating positive impact in any market climate

Clear Capital

Written by Kenon Chen. No amount of video calls, social media posts or other two dimensional interaction can replace what it is like to be around housing finance people in person. If there was ever an industry that thrived on being “people people,” housing finance is it. This was going through my mind as I sat next to a founder of a large mortgage lender at an industry event in Washington, D.C. recently.

article thumbnail

Investor Home Purchases Down 30% Year on Year

Mashvisor

Rising mortgage rates can significantly affect investor home purchases. As mortgage rates go up, investors are slowly dropping out of the market.

article thumbnail

Mark Balestracci Qualifies for 2022 Lamacchia Realty President’s Club ELITE

Lamacchia Realty

Mark Balestracci has officially qualified for the 2022 President’s Club ELITE with his team by surpassing 99 transactions as a group this year! Being a team lead for The Balestracci Group , he had to achieve an even higher level of sales in order to qualify. For over two decades, Mark has been named one of the top REALTORS® throughout Worcester County.

Realty 73
article thumbnail

The mortgage market right-sizing is well underway. When will normalcy return?

Housing Wire

Relief from the rate-driven volume reduction afflicting both the primary and secondary mortgage markets is expected to be elusive for some time to come, at least in terms of any renewed refinancing boost. That’s according to David Petrosinelli, a New York-based senior trader with InsphereX , a tech-driven underwriter and distributor of securities that operates multiple trading desks around the country.

Marketing 393
article thumbnail

Automated valuations evolve with the launch of Interactive ClearAVM

Clear Capital

Today, we’re thrilled to announce the launch of Interactive ClearAVM (automated valuation model). This enhanced version of ClearAVM is an optional add-on that will provide customized AVMs in real-time based on user-made adjustments to a property’s key characteristics and including condition. ClearAVM is an AI-based, investment-grade AVM that produces reliable, highly-accurate market value predictions and uses machine learning to deliver property valuations on more than 139 million addresse

article thumbnail

How Appraisal Management Companies Aid the Appraisal Process

Kairos Appraisal Services

The home appraisal is a key part of any home sale transaction, assuring the lender that they are not issuing a mortgage for more than a property is worth. Lending regulations restrict the borrower, mortgage broker, or lender from choosing which appraiser conducts their home inspection and prevents direct communication between these parties. An appraisal… The post How Appraisal Management Companies Aid the Appraisal Process appeared first on Kairos.

article thumbnail

Homes DO Sell During the Holidays – 2022

Lamacchia Realty

HOMES DO SELL DURING THE HOLIDAYS! Mythbuster: Homes actually DO SELL during the holiday season! Quite often, too often, in fact, REALTORS ® hear home sellers say that they want to take their home off the market for the holiday season.?Their concerns usually stem from the misconception that buyers are not looking during November and December because they’re halting their search for the holidays.

Sellers 73
article thumbnail

Powell’s speech was a direct hit to mortgage rates

Housing Wire

The Federal Reserve Chairman Jerome Powell said during a Wednesday afternoon speech at the Brookings institute that monetary policy affects the economy and inflation with uncertain lags, and the full effects of the ongoing tightening have yet to be felt. The mortgage market, however, tells a different story. So far, the market has quickly reflected the impact of the Fed’s moves.

Mortgage 382
article thumbnail

Calm Down, Short-Term Rentals Are Doing Fine

BiggerPockets

“Far more money has been lost by investors trying to anticipate corrections than lost in the corrections themselves.” – Peter Lynch I’ll be honest. I went back and forth about writing […].