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Cleveland Appraisal Blog
JULY 28, 2022
In recent years, with the advent of remote work, many are moving to different states. This week, I welcome back guest writer June Duncan who shares some tips for those planning on moving out of state. Enjoy!
Appraisal Buzz
JULY 28, 2022
In anticipation of another rate hike by the Federal Reserve, mortgage rates retreated downward this week, as purchase demand continued to fall, as the prospect of a recession continues to loom. The post Mortgage Rates Fall Ahead of Fed Rate Hike appeared first on theMReport.com.
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The Appraiser Coach
JULY 26, 2022
I’ve been asked how much should be filled out on site during a mobile appraisal. I know there’s a lot of ways out there to do this; there are almost. Read More.
Housing Wire
JULY 28, 2022
The U.S. House of Representatives passed a bill late Wednesday creating federal minimum standards, which would allow notaries nationwide to perform remote online notarizations. The legislation passed the House with a vote of 336-90.
Sacramento Appraisal Blog
JULY 25, 2022
Finally. We’ve seen a massive change with housing inventory. But is it because sellers are rushing to list their homes? That’s not the culprit. Let’s talk about supply and some things on my mind about today’s market.
Appraisal Buzz
JULY 26, 2022
Emporium TPO , a non-QM wholesale lender headed by mortgage banking veterans Steve Nadon and Daniel Goodwin, is now using OptifiNow as its CRM and marketing automation and CRM platform.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
JULY 26, 2022
Tuesday’s report on new home sales came in as a miss of estimates and prior revisions were all negative. This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession.
Eyes on Housing
JULY 25, 2022
The share of adults planning a home purchase within a year stood at 13% in the second quarter of 2022, unchanged from the previous quarter, but lower than a year earlier (17%).
Appraisal Buzz
JULY 27, 2022
The U.S. House of Representatives today passed the Secure Notarization Act (H.R.3962) , which would authorize the use of remote online notarization (RON) and create national standards and protections for its use.
Valuation Review
JULY 25, 2022
Utah-based virtual reality company Future House Studios minted its office deed as an NFT (non-fungible token), marking the first time an office building has been put on blockchain. Future House Studios used a new legal model through TruMint that allows real property to remain and transact indefinitely on blockchains with reduced transaction costs
Housing Wire
JULY 29, 2022
Fast-rising home prices and interest rates coupled with a slipping economy helped to cool the nation’s housing market in June leading to a nearly 2% increase in the number of homes on the market.
Eyes on Housing
JULY 29, 2022
After falling steadily for five quarters, the popularity of new homes rebounded in the second quarter of 2022, as 21% of prospective buyers reported looking for a newly-built home – up from 19% a quarter earlier.
Appraisal Buzz
JULY 25, 2022
Guild Mortgage has launched a new loan program that evaluates borrower eligibility using residual income analysis and rent payment history. Guild’s Complete Rate program, powered by FormFree , offers an alternative method to measure credit risk for borrowers, the company says in a release.
Realvals
JULY 29, 2022
Reading an appraisal report for the first time can be quite daunting. Whether you are a first-time homeowner or it’s your first time reading an appraisal for any reason, it’s quite a lot of information to take in at once.
Housing Wire
JULY 25, 2022
Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July.
Eyes on Housing
JULY 27, 2022
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% in Q2 2022–its smallest share since early 2008. Conventional loans financed 74.8%
Appraisal Buzz
JULY 25, 2022
A recent Quicken survey found that 21% of those polled planned to buy a first or new house in 2022, with 69% of that segment now reconsidering that move. The post Inflationary Concerns Spur Homebuyer Hesitation appeared first on theMReport.com.
DW Slater Company
JULY 28, 2022
Here in Texas, we are dealing with a heat wave and drought, reminiscent of the 1980 heat wave. Our power grid and ERCOT (the power grid regulating entity) have been challenged and I found myself checking their real-time grid that tracks the supply and demand of power.
Housing Wire
JULY 27, 2022
The Federal Reserve hiked rates 0.75% on Wednesday, which was mostly expected by market participants before the announcement. The question is, will the Fed keep aggressively hiking rates if the economic data worsens? I say this because I’ve raised all but one of my six recession red flags.
Eyes on Housing
JULY 26, 2022
New single-family home sales declined in June due to rising mortgage rates and worsening affordability conditions. Per Freddie Mac, the 30-year fixed rate mortgage was 5.10% at the end of May and climbed to 5.70% by the end of June. The U.S. Department of Housing and Urban Development and the U.S.
Appraisal Buzz
JULY 25, 2022
Even in today’s challenging market, high-producing loan officers remain in high demand, according to mortgage advisory firm STRATMOR Group. Recruiting them often comes down to the quality of the offer a lender can make.
Empire Appraisal Group
JULY 28, 2022
ANSI Square Footage Standards: What Agents and Appraisers Should Know. Source: ANSI Square Footage Standards: What Agents and Appraisers Should Know | Realtor Magazine. Fannie Mae’s adoption of the ANSI standard for measuring the area of a home is creating questions, inconsistencies. by Craig Morley.
Housing Wire
JULY 27, 2022
The Federal Reserve (Fed) on Wednesday raised the federal funds rate by another 75 basis points, to 2.25%-2.50%, delivering what was expected by most investors and economists in recent weeks.
Eyes on Housing
JULY 29, 2022
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.6% in June, making its ninth monthly increase in the past 12 months. Gains in personal income are largely driven by increases in compensation of employees and proprietors’ income.
Appraisal Buzz
JULY 25, 2022
Freddie Mac’s ACE+ PDR has taken effect – how are appraisers going to be impacted? Join us for our upcoming free webinar on July 28 th at 2 pm ET, “ ACE + PDR: What does this mean to you, and what’s the future for appraisal data collection? ”
DW Slater Company
JULY 27, 2022
Here in Texas, we are dealing with a heat wave and drought, reminiscent of the 1980 heat wave. Our power grid and ERCOT (the power grid regulating entity) have been challenged and I found myself checking their real-time grid that tracks the supply and demand of power.
Housing Wire
JULY 27, 2022
The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining. The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4
Eyes on Housing
JULY 28, 2022
The U.S. economy definitively slowed in the first half of 2022 as the Federal Reserve tightened financial conditions. Real GDP fell for the second straight quarter, while the Fed raised interest rates by 75 basis points for the second consecutive month to reduce inflation pressure.
Appraisal Buzz
JULY 27, 2022
New home sales plunged in June as higher mortgage rates and lack of affordability dampened buyer demand. In addition, production slowed on lower builder confidence. New home sales were at a seasonally adjusted annual rate of 590,000, a decrease of 8.1% compared with May and down 17.4%
Realvals
JULY 27, 2022
As a real estate appraiser in California, I often hear this question, and the answer is almost always the same. It’s the client who pays for the home appraisal. But who is the client you ask? Keep reading to find out. . Home appraisal process.
Housing Wire
JULY 29, 2022
A few months ago, the United States housing market failed Econ 101. Table 1, below, reports the 10 hottest U.S. metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com.
Eyes on Housing
JULY 25, 2022
Nonfarm payroll employment increased in 38 states in June compared to the previous month while 11 states and the District of Columbia lost jobs. Rhode Island reported no change.
Appraisal Buzz
JULY 25, 2022
The housing market has slowed following a pandemic-driven buying frenzy, with home sales falling and supply starting to rise due to rising mortgage rates, high home prices, inflation, and a faltering economy. According to a new report from Redfin, a record 32.6% of Redfin.com users nationwide looked to move from one metro to another in … The post High Prices, Mortgage Rates Push Buyers Toward More Affordable Areas appeared first on theMReport.com.
Valuation Review
JULY 25, 2022
BBG recently appointed James Graber as an executive manager director. Graber will lead BBG’s Alternative Practice Groups consisting of seniors housing, healthcare, hospitality, self-storage markets and manufactured housing communities. Read on for more information
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