Housing Wire

MAY 21, 2023

It was a wild ride for the housing market last week! The 10-year yield rose noticeably, sending mortgage rates near 7% right in the heart of the spring selling season. New listings data fell, however, active inventory grew. And purchase apps had a weekly negative print, continuing the 2023 theme of higher rates impacting the data. Here’s a quick rundown of the last week: Total active listings grew by 3,809 weekly, but new listings are still trending at all-time lows.

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Cleveland Appraisal Blog

MAY 26, 2023

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. They had hired the former real estate professional to value their property for the purpose of a divorce. But then they had to hire me to perform an appraisal.

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Sacramento Appraisal Blog

MAY 23, 2023

It’s graduation season for school, and it’s also that time of year where the spring housing market crests or graduates for the year so to speak. Let’s talk about the signs of a peak, the weirdness of today’s market, and bro rating. UPCOMING (PUBLIC) SPEAKING GIGS: 6/1/23 Thrive in Real Estate (register here) 6/07/23 SAFE […] The post Graduation for the spring housing market first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Real Estate News

MAY 23, 2023

As existing home listings have fallen, the inventory of new homes has increased — and prices have dropped — making them an attractive option.

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Housing Wire

MAY 23, 2023

In my last market outlook for HousingWire, published in January , I offered two predictions for the early 2023 retail housing market based on forward-looking Auction.com bidding behavior from the fourth quarter of 2022: A home price correction nationwide and in the majority of major markets Home sales volume bottoming out While both predictions have played out in large part (more on that below), bidder behavior on Auction.com in the first quarter turned a sharp corner, indicating a robust reboun

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The Appraiser Coach

MAY 23, 2023

Many of us hear about integrity often, but what does integrity even mean? What are we actually talking about here? A good explanation of integrity that I’ve heard is that.

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Real Estate News

MAY 24, 2023

“You do not want to think you're smarter than your customers,” Florance said on CoStar’s strategy of building Homes.com as a platform for agents and consumers.

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Housing Wire

MAY 26, 2023

Borrowers seeking mortgage financing to purchase a home could find themselves saving $100 a month or more by shopping around, and locating cheaper lenders with which to do business. This is according to a new blog post published this week by the Consumer Financial Protection Bureau (CFPB). By analyzing Home Mortgage Disclosure Act (HMDA) data from 2021, the CFPB determined that mortgage rates paid by consumers vary across a wide variety of lenders, including for mortgages backed by Fannie Mae an

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George Dell

MAY 24, 2023

Evidence Based Valuation – EBV © is the future for valuation professionals. It requires the appraiser’s experience, judgment, and knowledge. It is not hard, just new. It gives better results faster. EBV generates more than a point value opinion. Therefore it requires competence beyond old legacy appraisal “procedures.” This new competency is a merger of […] The post How Do I Move to EBV?

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Eyes on Housing

MAY 24, 2023

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the first quarter of 2023, there were just 4,000 2- to 4-unit housing unit construction starts.

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Real Estate News

MAY 26, 2023

Pinnacle Realty Advisors CEO Sam Sawyer discusses his company’s model, growth trajectory and the traps they’re trying to avoid along the way.

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Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years. According to data from Statista , there were roughly 5.95 million homes bought and sold in the U.S. last year.

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Loan Officers Real Estate Agent Real Estate Finance 397

Inman

MAY 26, 2023

Mosaik is an operating system for the client experience, handling listings, tasks, transactions and relationships for real estate agents and teams.

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Eyes on Housing

MAY 23, 2023

According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the first quarter of 2023. For the first quarter, 127,000 multifamily residences started construction. Of this total, 123,000 were built-for-rental use. The market share of rental units of multifamily construction starts stood at an elevated 96% for the first quarter as the.

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Real Estate News

MAY 20, 2023

Marc King explains why Keller Williams needs to be the tech company of choice and why the industry needs agents who value service over shortcuts.

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Agents 261

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry. This new development is being propelled by an alleged Fannie Mae “request” that, according to industry sources, was made recently of several lenders active as buyers in M&A deals.

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Inman

MAY 26, 2023

The home in Studio City was renovated by HGTV in 2019 and has since been used in a number of the network's specials and series. Now one lucky buyer will be able to keep a piece of television history.

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Appraiserblogs

MAY 23, 2023

While the statute doesn’t explicitly mention that providing a loan amount is an AIR violation… When a mortgage lender seeks to make a Veterans Administration-backed home loan, the lender requests an appraisal from the VA’s appraiser panel by using a form entitled Request for Determination of Reasonable Value. For many years, until it was revised in July 2022, this form had a box labelled “Refinancing-Amount of Proposed Loan.

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Appraisal Appraisal Process Mortgage 132

Real Estate News

MAY 25, 2023

The value prop of MLSs as data aggregation organizations could be industry-changing. But like in "Moneyball," they'll need to play the game differently.

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Housing Wire

MAY 26, 2023

The threat posed by wire fraud has commanded quite a bit of attention from the real estate ecosystem. But as the housing industry has gotten better at tackling it, fraudsters have been hard at work developing more creative scams. In January, a report from wire fraud prevention firm CertifID in conjunction with the U.S. Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud.

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Inman

MAY 22, 2023

Does this sound familiar? You have a beautiful listing that would be a fantastic investment for a buyer — yet it has dated paint colors, worn furniture, and too many accessories that will ultimately detract from the results you know you could achieve for your seller.

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Riverfront Appraisals

MAY 25, 2023

I feel like we all need a laugh. How about you? It seems like everywhere you turn all you read about or hear about is negative. Or heavy. Or sad. So with this post, I’m switching gears and I’m answering the question I get a ton from various friends. It usually comes up at a […] The post FAQ #19: What Are Some Of The Craziest Things You’ve Heard As An Appraiser?

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Appraisal 110

Real Estate News

MAY 22, 2023

Wallace, who grew up in a real estate family, was proud to be involved in an industry that had such a profound impact on people's lives.

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Technology Real Estate 261

Housing Wire

MAY 26, 2023

New York State’s Department of Financial Services (DFS) announced this week that mortgage lender and servicer OneMain Financial will pay a $4.25 million penalty due to lapses in its cybersecurity controls by “failing to effectively manage third-party service provider risk, manage access privileges, and maintain a formal application security development methodology.

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Development Training Lending Finance 384

Inman

MAY 22, 2023

Inman recently caught up with Marguleas to discuss his company's new venture in Dallas, the effects of the LA 'Mansion Tax' and what he's looking forward to at this year's ICLV event.

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Marketing 161

Eyes on Housing

MAY 26, 2023

While mortgage rates were stabilizing in the first quarter of 2023, rates on loans for Acquisition, Development & Construction (AD&C) continued to climb, according to NAHB’s quarterly Survey on AD&C Financing. From the last quarter of 2022 to the first quarter of 2023, the average effective rate (based on rate of return to the lender over the assumed life of.

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Real Estate News

MAY 25, 2023

Low inventory combined with a lack of affordability continues to stifle spring sales nationally, though numbers were up in some regions.

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Inventory 241

Housing Wire

MAY 25, 2023

Texas-based Colonial Savings, F.A. has decided to exit the origination business amid one of the most challenging cycles in decades, provoked by the Federal Reserve ‘s tightening monetary policy and a banking crisis. The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and condit

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Business Mortgage Loan Officers Inventory 384

Inman

MAY 22, 2023

The property purchased by the celebrity power couple on Pacific Coast Highway encompasses nearly six acres of land and was designed by acclaimed Japanese architect Tadao Ando and sold by son of famous soap opera creators Bill Bell and Lee Phillip Bell.

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Design 161

Eyes on Housing

MAY 25, 2023

Data from the Census Bureau’s latest Survey of Market Absorptions of New Multifamily Units (SOMA) indicates that multifamily market demand has softened as the percentage of apartments absorbed within the first 3 months of completion fell to 59.0% after six consecutive quarters of above 60.0% percent absorption. The absorption rate of unfurnished, unsubsidized apartments (the share rented out in the.

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Marketing 97

Real Estate News

MAY 26, 2023

The latest Redfin report finds that while moving is down overall, a higher percentage of those who move are relocating to other parts of the U.S.

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Housing Wire

MAY 25, 2023

After falling for the first time since November 2022 in March , pending home sales remained unchanged in April, according to data released Thursday by the National Association of Realtors (NAR). Year over year, pending home sales were down 20.3%, an improvement on the 23.3% annual drop recorded in March. “The housing market looks different than it does during a typical spring, when the market is usually in full gear,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement.

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Inventory Housing Market Contracts Government 384

Inman

MAY 20, 2023

Learn the secrets to real estate success from the No. 1 RE/MAX agent worldwide, Jordan Cohen. He offers actionable advice that you can put to work immediately to raise the level of service you provide.

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Agents Real Estate Brokerage Marketing 161

McKissock

MAY 20, 2023

What’s it like getting started in the appraisal business? We sat down with young appraiser, Lindsay Onuffer, to find out. Lindsay is a 22-year-old appraiser trainee in Pennsylvania. Below, she shares why and how she began her appraisal career, what her job is like, and advice for others who are interested in the appraisal business. Q: What made you want to get into appraisal?

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