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

Homebuyer Affordability Inches Upward in August

Appraisal Buzz

Homebuyer affordability improved for the third consecutive month in August, with the national median payment applied for by applicants decreasing to $1,839 from $1,844 in July.

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Housing completion data is now savagely unhealthy

Housing Wire

Housing construction in the U.S. during the brief COVID-19 recession, to that recovery, and now in the new housing recession, is going to go down in history as one of those crazy data lines we lived through. Just to give you some perspective here, at the peak of 2005, we had about 2.24

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.

Mortgage Rates Price Homebuyers Out of Market

Appraisal Buzz

According to Redfin’s latest market analysis, some 44.6% of home offers written by Redfin agents nationwide faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the pandemic when the housing market nearly ground to a halt.

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.

More Trending

Growth of Household Real Estate Market Value Slows in Q2

Eyes on Housing

The latest results from the Federal Reserve’s Z.1

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.

Conservation Easement in Ohio: A Guide to Protecting Our Treasured Land

The Robert Weiler Company

The importance of a fully modern open space preservation vehicle – a conservation easement in Ohio – cannot be better summarized than by our 26th President.

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%.

Builder Confidence Falls for Ninth Straight Month as Housing Slowdown Continues

Eyes on Housing

In another sign that the slowdown in the housing market continues, builder sentiment fell for the ninth straight month in September as the combination of elevated interest rates, persistent building material supply chain disruptions and high home prices continue to take a toll on affordability.

Tumultuous Economic Conditions on Horizon After Recent Fed Move

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.

Residential Real Estate Appraisals and Racial Bias

Advanced Appraisal

By: Ernie J Ramos IFA, ASA

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%

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%.

122
122

Elevated Purchase Demand Fueling Housing Market Potential

Appraisal Buzz

First American Financial Corporation has released the First American’s proprietary Potential Home Sales Model for the month of August 2022. The Potential Home Sales Model measures what the healthy market level of home sales should be based on economic, demographic, and housing market fundamentals.

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.

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.

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).

Purchase Mortgage Apps for New Homes Dropped 10% YoY in August

Appraisal Buzz

The MBA reports that new home purchase applications were down year-over-year in August, but rebounded in after four consecutive months of declines. The post Purchase Mortgage Apps for New Homes Dropped 10% YoY in August appeared first on theMReport.com.

MBA: Office market changes seem permanent

Valuation Review

The ongoing tug of war between employers and employees about returning to the office will accelerate as pandemic-related impacts fade, according to a new Mortgage Bankers Association (MBA) white paper.

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.

Housing Permits Fall Back Again in August

Eyes on Housing

In August, housing starts rebounded but housing permits declined for the second straight month.

Delinquencies Still Well Below Pre-Pandemic Levels—When Will That Change?

Appraisal Buzz

Black Knight Inc. has released a “first look” the latest iteration of its Mortgage Monitor Report for August 2022, which looks at delinquency and foreclosure rates across the U.S. According to Black Knight, the national delinquency rate fell to 2.79% in August.

Phone usage for home inspections more frequent, says executive

Valuation Review

Valuation Review concludes its conversation with Mark Walser, president of Incenter Appraisal Management. Walser gives more insight on the profession, as well as his belief that more and more, smartphones are being used for home inspections/appraisals.

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.

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).

Studio Apartments Prices Lead Rent Charge

Appraisal Buzz

As prices on everything increase across the board, more and more are turning to renting—either by circumstance or by choice.

Digital Federal Credit Union, Blue Sage integrate

Valuation Review

Blue Sage Solutions, LLC, developers of the mortgage industry’s browser-based, end-to-end mortgage lending system, recently announced an integration with Digital Federal Credit Union (DCU).

Opinion: Stop subsidizing Wall Street buying up homes

Housing Wire

No serious observer of today’s economy doubts that it is harder and harder for everyday folks to buy a home. This is especially true for first-time homebuyers across the country, in exurbs, Sunbelt suburbs, and neighborhoods in cities large and small.

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.

August Rents Pull Back for First Time in Over a Year

Appraisal Buzz

As prices on everything increase across the board, more and more are turning to renting—either by circumstance or by choice.

HUD making $40 million in HHP grants available

Valuation Review

The U.S. Department of Housing and Urban Development (HUD) announced the availability of $40 million in grants through its Healthy Homes Production Grant Program (HHP) to fix older housing, preserve affordable housing and improve the health of children and families

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.