Sat.Jul 23, 2022 - Fri.Jul 29, 2022

Tips for Moving Out of State: Here’s What You Need to Know for Your Big Move

Cleveland Appraisal Blog

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!

Mortgage Rates Fall Ahead of Fed Rate Hike

Appraisal Buzz

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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Less Isn’t Always More

The Appraiser Coach

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.

U.S. House passes remote online notarization bill

Housing Wire

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.

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Spiking housing supply & fewer buyers

Sacramento Appraisal Blog

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.

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Non-QM Wholesale Lender Emporium TPO Using OptifNow for CRM, Marketing Automation

Appraisal Buzz

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.

More Trending

New home sales make it clear: Housing is in a recession

Housing Wire

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.

Housing Demand Flattens as 1st-Time Buyers Retreat

Eyes on Housing

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%).

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House Passes Secure Notarization Act

Appraisal Buzz

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.

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Commercial real estate title minted as NFT on blockchain

Valuation Review

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 inventory nationwide rises for the first time in years

Housing Wire

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.

Some Buyers Turning to New Construction

Eyes on Housing

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.

Guild Mortgage Launches Loan Program That Uses Alternative Credit Data Including Rent

Appraisal Buzz

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.

How To Read an Appraisal Report

Realvals

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.

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The nation’s housing market is on a correction course

Housing Wire

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.

Share of New Home Sales Backed by FHA Loans Reaches 14-Year Low

Eyes on Housing

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%

Inflationary Concerns Spur Homebuyer Hesitation

Appraisal Buzz

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.

The Tide is Turning- July Newsletter

DW Slater Company

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.

The Fed admits the economy is slowing

Housing Wire

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.

New Home Sales Plunge in June

Eyes on Housing

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.

Examining the Latest Trends: Signing Bonuses, Their Structure, Data and Tools

Appraisal Buzz

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.

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ANSI Square Footage Standards: What Agents and Appraisers Should Know

Empire Appraisal Group

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.

Fed hikes rate by 75 bps, back to 2018 level

Housing Wire

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.

Inflation Causes Real Disposable Income to Slip in June

Eyes on Housing

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.

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ACE + PDR: What does this mean to you, and what’s the future for appraisal data collection?

Appraisal Buzz

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? ”

The Tide is Turning- July Newsletter

DW Slater Company

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.

DOJ, CFPB announce $24M redlining settlement with Trident Mortgage

Housing Wire

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

The Second Quarter of Negative Growth: A Recession?

Eyes on Housing

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.

New Home Sales Plunged in June on Higher Mortgage Rates and Lack of Affordability

Appraisal Buzz

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%

Who Pays for the Appraisal?

Realvals

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.

Opinion: The end of seller speculation in US housing market

Housing Wire

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.

Employment Situation in June: State-Level Analysis

Eyes on Housing

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.

High Prices, Mortgage Rates Push Buyers Toward More Affordable Areas

Appraisal Buzz

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.

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BBG appoints new leader

Valuation Review

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