Sat.Apr 16, 2022 - Fri.Apr 22, 2022

The VA’s little-known program for Native American veterans

Housing Wire

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found.

Is Your “Crazy” Neighbor Lowering Your Home’s Value?

Cleveland Appraisal Blog

It’s tax appeal season and I’ve had several homeowners say that they feel their neighbors are negatively impacting the value of their home for different reasons. Is that the case? Can that be the case? Let’s talk about it. The homeowners of one property stated that their neighbors are a nuisance.

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Send Us Your Crazy Appraisal Stories!

Appraisal Buzz

This article was first published in the Appraisal Buzz Magazine. If you have shared a story with us in the past that was never published, please resend it. Your story could be one of the best this time around! Send your stories to comments@appraisalbuzz.com.

That one super skinny house (eight feet wide)

Sacramento Appraisal Blog

Could you live in a tiny home? Or what about a skinny home? I’m talking where walls range anywhere from eight feet to twelve feet wide at their maximum. Well, let’s talk about a super thin unit that sold recently in Sacramento.

FHA adds 40-year loan term to COVID-19 arsenal

Housing Wire

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

Do We Need a Neighborhood Section?

George Dell

Traditional appraisal says we should describe and analyze the subject neighborhood. In residential form reports, there is a section devoted to the neighborhood. In general narrative reports, there is a section devoted to the neighborhood.

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Caution Where Needed

The Appraiser Coach

Toward the beginning of the Covid-19 pandemic, I heard a lot of people who said something like, “Dustin, I think that there’s going to be a lot more flexibility because. Read More.

The housing market is still savagely unhealthy

Housing Wire

The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 million.

Housing Market at Inflection Point as Builder Confidence Continues to Fall

Eyes on Housing

Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability.

Home Value Forecast Predicts Slowdown in Growth

Appraisal Buzz

Rapidly rising mortgage rates are worsening affordability challenges that have been brought on by record home value growth. According to the March Zillow Real Estate Market Report, monthly mortgage payments on the typical U.S. home are 19.5%

The Realtor’s Guide to Appraisals Part 5: Tips on Communicating with the Appraiser

Riverfront Appraisals

When’s the last time you picked up the phone and called an appraiser? Maybe you had a question about how to adjust for an inground pool. Maybe you had a problem and the home didn’t appraise at the sale price. Do you ever communicate with the appraiser?

Fannie Mae cuts origination projection, forecasts recession in 2023

Housing Wire

Fannie Mae has lowered its mortgage origination forecasts for 2022 and 2023 due to the Federal Reserve’s (Fed) aggressive inflation-fighting monetary policy and corresponding volatility in the mortgage market.

Buyers’ Perceptions of Housing Availability Fall Back to 2018 Levels

Eyes on Housing

Buyers’ expectations of housing availability continue to worsen. At its peak in the 4th quarter of 2020, 36% expected the home search to get easier in the months ahead. After five straight drops, the share is now 17% – a level not seen since 2018.

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Housing Inventory Down 22% From Last Year

Appraisal Buzz

Rapidly rising mortgage rates are worsening affordability challenges that have been brought on by record home value growth. According to the March Zillow Real Estate Market Report, monthly mortgage payments on the typical U.S. home are 19.5%

LGBTQ+ Housing Guide: How to Find a Welcoming Home

Raleigh Realty

LGBTQ+ Guide to Finding a New Home LGBTQ+ Housing Guide: How to Find a Welcoming Home From discriminatory lending practices to exorbitant interest rates, LGBTQ people have faced many barriers to homeownership.

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Opinion: How GSE reform could create a healthier housing market?

Housing Wire

In the first article of this series, I discussed the argument for turning Fannie Mae and Freddie Mac into public utilities, which would result in more Americans having fair access to mortgage services.

Housing Demand Is Softening

Eyes on Housing

The share of adults planning a home purchase within a year fell for a third straight quarter in the first three months of 2022, down to 13%. The last time fewer American adults intended to buy a home was in the second quarter of 2020 (11%).

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Demand Grows in 3D Tours of SFR Properties

Appraisal Buzz

Virtual tours have gained in popularity over the past two years, with Charlotte, North Carolina leading the way with a 1,571% increase in interest. The post Demand Grows in 3D Tours of SFR Properties appeared first on DSNews. The post Demand Grows in 3D Tours of SFR Properties appeared first on Appraisal Buzz. Around The Web

Fannie Mae exec details efficiency in fair home value processes

Valuation Review

Fannie Mae Single-Family Collateral Risk Management Senior Vice President Jake Williamson shares with Valuation Review thoughts from his recent blog “The Journey to a More Efficient and Fair Home Valuation Process.”

Wells Fargo cuts mortgage jobs amid poor outlook

Housing Wire

A Wells Fargo bank branch. Wells Fargo & Co., the top depositary mortgage lender in the country, is cutting jobs in its home lending business, just days after reporting weak mortgage earnings in the first quarter of 2022.

Single-Family Permits Weaken in March

Eyes on Housing

Single-family starts permits declined in March, as higher interest rates weighed on housing affordability and produced a fourth straight decline for the NAHB/Wells Fargo HMI. Additionally, the cost and availability of materials, lumber, labor and lots remain key supply-side headwinds.

The Week Ahead: Servicing Industry Meets Government Leaders to Chart Future

Appraisal Buzz

The upcoming Five Star Government Forum will bring together industry stakeholders and their government partners to Washington, D.C. to discuss the mortgage and housing landscape in 2022 and onward. The post The Week Ahead: Servicing Industry Meets Government Leaders to Chart Future appeared first on DSNews. The post The Week Ahead: Servicing Industry Meets Government Leaders to Chart Future appeared first on Appraisal Buzz. Around The Web

GoFormz Celebrates Earth Day 2022

GoForrmz

This Earth Day 2022, we are incredibly proud of our paperless customers working towards a greener workplace As we observe another Earth Day, here at GoFormz we celebrate by recognizing all of our customers that have taken incredible strides in their paperless initiatives.

Mortgage applications nosedive as rates continue to soar

Housing Wire

With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the latest survey by the Mortgage Bankers Association. The drop was largely driven by an 8% decline in refinancing applications, which was 68% lower than the same week one year ago.

High Building Materials Prices Erode Preference for New Construction

Eyes on Housing

Preference for newly constructed homes skyrocketed in 2020, as buyers looked for homes with more square footage and amenities in which to work remotely, school children, exercise, etc. By the fourth quarter of 2020, 42% of prospective buyers preferred new construction.

FHA Finalizes Details on 40-Year Mortgage Mod

Appraisal Buzz

Geared toward borrowers struggling due to the pandemic, FHA details the latest loss mitigation option to help homeowners remain in their homes. The post FHA Finalizes Details on 40-Year Mortgage Mod appeared first on DSNews.

Listing Prices Hit Highest Median Ever

Empire Appraisal Group

Listing Prices Hit Highest Median Ever. Source: Listing Prices Hit Highest Median Ever | Realtor Magazine. Listing prices rose to a median of $405,000 in March, an all-time high, according to realtor.com®’s latest Monthly Housing Trends Report.

Freddie Mac first out of the gate with plans for targeted lending programs

Housing Wire

Freddie Mac will debut targeted lending programs this year, following guidance from regulators giving lenders the go-ahead.

High Home Prices Are Leading More Buyers To Give Up Home Search

Eyes on Housing

An earlier post revealed that 67% of buyers who were actively engaged in the process of finding a home in the 1st quarter of 2022 have spent 3+ months searching for a home without success.

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Sprout Mortgage Names Vincent Daino Senior VP of Strategic Relationships

Appraisal Buzz

Sprout Mortgage has announced the hiring of Vincent Daino as Senior VP of Strategic Relationships. In his new role, Daino will focus on growing and overseeing the company’s joint venture and strategic relationship division.

Answering your ANSI questions

Valuation Review

Hamp Thomas, real estate appraiser at Carolina Appraisers, recently took part in our The Move to ANSI Standards webinar. Afterward, he answered many of the questions which were submitted during the webinar

Can 3-D printed homes help solve the housing crisis?

Housing Wire

Zachary Mannheimer, founder and CEO of Alquist 3D. Andrew McCoy sees a future home that involves three-dimensional printers.

Buyers Feeling Grim About Housing Affordability

Eyes on Housing

Buyers’ expectations for housing affordability continue to sour. In the first quarter of 2022, 81% said they could afford less than half the homes for-sale in their markets – the highest share since before the pandemic.

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The Week Ahead: Steps Toward a More Diverse Future

Appraisal Buzz

Five Star’s 2022 Diversity and Inclusion Symposium is an event designed to advance the diversity conversation within the mortgage marketplace through critical dialogue among the top D&I experts in the field.

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