Sat.Sep 17, 2022 - Fri.Sep 23, 2022

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Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 million. Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. .

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Choosing comps in a changing market

Sacramento Appraisal Blog

I’ve been getting asked lots of questions lately about choosing comps since the market shifted. Here are some things people have been asking me. UPCOMING (PUBLIC) SPEAKING GIGS: 10/07/22 Market update with SAR (Sign up here – On Zoom) 10/13/22 Market update in Midtown (details TBD) 10/20/22 How to Think Like an Appraiser (9am-12pm) (Sign up […].

Marketing 397
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Fannie Mae Continues to Forecast 2023 Recession

Appraisal Buzz

According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023. According to the ESR, economic growth is projected to resume in the second half of 2022, but the … The post Fannie Mae Continues to Forecast 2023 Recession appeared first on DSNews.

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How to have a fantastic career opportunity with minimal spending

Miller Samuel

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Business 195
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What does the new normal for first-time homebuyers look like?

Housing Wire

Before the pandemic, the historical average of annualized house price growth was approximately 4%. Yet, pandemic-era dynamics exacerbated an already large housing demand and supply imbalance, fueling record-breaking annual house price growth, peaking at nearly 21%. Today, as affordability wanes and housing supply ticks up, house price growth is decelerating and will likely continue to trend towards its historical average.

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Should We Think About Thinking?

George Dell

Appraisers are paid for their thinking, as well as some other skills. If there is no thinking, it can be called an “Automated” appraisal. Thinking is defined as giving thought to consider or reason about something – using rational judgment. Thinking about thinking can cause discomfort. “What will people think of me — if my […]. The post Should We Think About Thinking?

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The Mysterious “Company Policy”

The Appraiser Coach

Before the COVID-19 pandemic began, my daughter was doing some volunteer work in South America, helping people who have been rescued from the human trafficking industry. She was down there. Read More.

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Mortgage rates might soar even higher

Housing Wire

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% from the beginning of this year, but they may have not peaked, putting pressure on affordability challenges for most prospective buyers as the Federal Reserve vows to tame inflation.

Mortgage 430
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Things you should know before getting into the business industry

Miller Samuel

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Q2 Profits on Home Flips Hit New High

Appraisal Buzz

Fix-and-flip investors enjoyed another strong quarter in Q2, as the total number of properties flipped nationwide was the second-highest ATTOM recorded over the past 22 years. The post Q2 Profits on Home Flips Hit New High appeared first on DSNews. The post Q2 Profits on Home Flips Hit New High appeared first on Appraisal Buzz.

Investors 195
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Growth of Household Real Estate Market Value Slows in Q2

Eyes on Housing

The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in the second quarter of 2022, growth of the market value of all owner-occupied real estate in the United States slowed after showed the largest year-over-year percentage gain since 2001 the prior quarter. The market value of owner-occupied real.

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The housing market slowdown has only just begun: Fannie Mae

Housing Wire

Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. The agency’s Economic and Strategic Research (ESR) Group forecasts the total home sales to decline 17.2% to 5.71 million units this year from 2021, a further downward revision from August’s projected 16.2% drop. .

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Understanding the value & background of all public relation trends

Miller Samuel

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Business 150
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CFPB Seeks to Expand Homebuyer Options

Appraisal Buzz

The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. The agency also seeks public input on ways to support … The post CFPB Seeks to Expand Homebuyer Options appeared first on DSNews.

Appraisal 195
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Fed Raises by 75 Basis Points, Again

Eyes on Housing

Continuing its tightening of financial conditions to bring the rate of inflation lower, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 75 basis points, increasing that target to an upper bound of 3.25%. This marks the third consecutive meeting with an increase of 75 basis points. These supersized hikes are intended to move monetary policy.

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Nominations for the 2022 HousingWire Tech Trendsetters award close tomorrow!

Housing Wire

In its fourth year, HousingWire’s Tech Trendsetters is honoring the people behind our prestigious TECH100 award. These are the tech leaders who are driving innovation and modernization for their mortgage and real estate clients. Take a look through some of our past honorees to see their list of accomplishments and don’t forget to nominate a 2022 Tech Trendsetter before it’s too late!

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What Is My Incentive?

Appraiserblogs

Why would I bother taking on the added risk of an inconvenient process? Where is my incentive again? As an appraiser, I have to ask (seriously) why should I care if the profession has a shortage of skilled appraisers? Logic dictates that If there is a shortage, then I will remain busy. Even if waivers (another ruse to eliminate appraisal work) increase, I’ll be busier with fewer appraisers.

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The Industry’s Regulatory Concerns Addressed at LL 100 Fall Servicer Summit

Appraisal Buzz

On Monday, the Five Star Conference & Expo kicked off its second day of programming with the annual Legal League 100 Fall Servicer Summit for members, associate members, and mortgage industry professionals which features multiple panels and collaborative discussions regarding regulatory developments, landmark cases, and emerging issues within the housing and mortgage markets.

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Existing Home Sales Fall for Seven Straight Month and Prices Soften

Eyes on Housing

As elevated mortgage rates and higher home prices continue to price out homebuyers and reduce affordability, existing home sales declined for seven consecutive months in August, according to the National Association of Realtors (NAR). All four regions saw double-digit declines for sales from a year ago. Additionally, home price appreciation slowed for the second month after reaching a record high.

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Former HUD official convicted of falsifying records

Housing Wire

A former assistant inspector general for the Department of Housing and Urban Development (HUD) has been convicted by a federal jury of concealing efforts to direct tens of millions of dollars in government business to a friend and government contractor to whom he owed money. Eghbal “Eddie” Saffarinia, 62, of Alexandria, Virginia, perpetrated a scheme to conceal key facts, including the extent and nature of his relationship with a “personal friend” who was the owner and CEO of an information te

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What’s in a Street Name? A Key to Home Values

Empire Appraisal Group

What’s in a Street Name? A Key to Home Values. By Dan Weil. Homes are more expensive along streets with the words Beverly, Third, Brickell, Bayshore or Island. But Timber or Knoll street homes took longer to sell. JACKSON, Ga. – Some street and neighborhood names are more associated with expensive homes than other names. “What’s in a name?” Shakespeare wrote in “Romeo & Juliet.

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Asian, Black, and Hispanic-white Borrower’s Purchase Loan Shares Increase

Appraisal Buzz

The Consumer Financial Protection Bureau (CFPB) has released its annual report on residential mortgage lending activity and trends for 2021. The report’s data are submitted by thousands of the nation’s lending institutions under the Home Mortgage Disclosure Act (HMDA). The report shows a significant shift from refinance loans in 2020 to home purchase loans in … The post Asian, Black, and Hispanic-white Borrower’s Purchase Loan Shares Increase appeared first on DSNews.

Lending 195
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Housing Permits Fall Back Again in August

Eyes on Housing

In August, housing starts rebounded but housing permits declined for the second straight month. The August drop in building permits indicates that the housing market is continues to cool as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act as a drag on the market. Overall housing starts rose 12.2% to a seasonally adjusted annual rate.

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Mortgage applications rise ahead of Fed’s meeting

Housing Wire

Demand for mortgage loans increased for the first time in six weeks, ahead of the Federal Reserve ’s meeting on Wednesday, when observers expect at least another 75 basis points hike to the federal funds rate. According to the Mortgage Bankers Association (MBA), the market composite index , a measure of mortgage loan application volume, increased 3.8% for the week ending Sep. 16, compared to the previous week.

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Streamline University Admissions with GoFormz

GoForrmz

Discover how digital forms can help your admissions department work more efficiently. While all the pain points and operational inefficiencies are top-of-mind from the current admissions class, the best time to start planning for next year’s admissions is now! College admissions are arguably the most crucial time in a student’s lifetime – patiently waiting to determine where they will take their studies to the next level.

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Federal Reserve Continues Rate Hikes

Appraisal Buzz

For the third time in a row, the Federal Reserve’s Federal Open Market Committee (FOMC) raised the nominal interest rate by 75-basis points at the conclusion of their scheduled two-day meeting to a rate of 3.00-3.25%. This marks the highest interest rate in 14 years. This marks the fifth increase this year and the … The post Federal Reserve Continues Rate Hikes appeared first on DSNews.

Appraisal 195
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Employment Situation in August: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 37 states in August compared to the previous month while 13 states and the District of Columbia lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 315,000 in August, following a gain of 526,000 jobs in July. On a month-over-month basis, employment data was strong in Kentucky, which.

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Angel Oak launches 6th securitization deal this year

Housing Wire

Atlanta-based non-QM lender Angel Oak Cos. , through its mortgage-backed securities conduit Angel Mortgage Trust , has unveiled its sixth private-label securities (PLS) offering of 2022, even as fast-rising interest rates have jumped far ahead of the lower-rate legacy loans securing the deal. The average coupon is 5% for the pool of 795 non-qualified (non-QM) mortgages backing the current offering — dubbed AOMT 2022-6, valued at $389.3 million, according to a bond-presale report by Fitch Ratings

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What is a Land Appraisal and How Is Land Appraised?

The Robert Weiler Company

When there is land for sale – whether raw acreage, commercial property, or residential – a land appraisal is the key component of the process. Any loan for a property is based on the appraisal value. As a land buyer, owner, or seller, understanding the true market value of the real estate in question is important. This will help you make the most of your land buying decision.

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The Eyes and Ears of the Lender

Appraisal Buzz

Today’s Buzzcast interview is with Ken Dicks, Director of Appraiser Compliance for Reggora. We sat down with Ken and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool when it comes to lenders and a lender perspective. What are ways in which appraisers act as the eyes and ears? What can lenders take away from an appraiser’s expertise regarding a property?

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Covid Era Impacts on Working from Home and Housing Market Impacts

Eyes on Housing

While the COVID-19 pandemic has triggered many social and economic disruptions, it has also changed working arrangements and has accelerated the shift to work from home (WFH). During the COVID-19 outbreak in the early of 2020, many businesses across the United States closed and millions of workers experienced the work from home trend out of necessity.

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Fed hikes rates by 75 bps to rein in still-hot inflation

Housing Wire

The Federal Reserve (Fed) on Wednesday raised the federal funds rate by another 75 basis points, to 3%-3.25%, bringing it back to a level last seen in March 2008. The decision was expected by most Fed observers , and comes as mortgage lenders and real estate brokerages struggle to adjust to a Fed-driven slowdown of the housing market. . According to the Federal Open Market Committee (FOMC) statement, although recent indicators point to modest growth in spending and production, job gains have b

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What Is A Final Inspection?

Birmingham Appraisal

A Closer Look At The Final Inspection. You may have heard of an appraisal inspection but what is a final inspection? Keep reading to find out the “second part” of the appraisal process for certain types of appraisals. For many types of appraisals, there is only one inspection or observation as we like to call it. Because an appraisal is nothing like a home inspection, that term could be somewhat misleading.

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Sales Slip, Prices Soften From July

Appraisal Buzz

According to recent August data in the latest RE/MAX National Housing Report, home sellers, on average, accepted offers below their listing prices last month –a further indication of rebalancing in the housing market. Across the report’s 51 metro areas, the average Close-to-List Price Ratio in August was 99%, meaning that homes sold for 1% less … The post Sales Slip, Prices Soften From July appeared first on DSNews.

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