Housing Wire
JANUARY 11, 2022
Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, according to the most recent CoreLogic Loan Performance Report. The expectation is that rates will continue to decline during 2022. In October, 3.8% of mortgages were delinquent by at least 30 days, including foreclosure, close to the 3.7% rate registered in the same period of 2019.
Appraisal Buzz
JANUARY 14, 2022
Due to the explosion of real estate prices over the past few years, more are looking to diversify their investments by expanding into real estate. But not all real estate properties are a sound investment; those looking for the best “bang for their buck” must balance real estate prices with taxes, vacancy rates, insurance, and the list goes on. As … The post These Are The Best Cities for Real Estate Investment appeared first on DSNews.
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Sacramento Appraisal Blog
JANUARY 10, 2022
Was last year the most aggressive housing market we’ve ever had? I’m going to go out on a limb and say HECK YES based on the stats. But what do you think, whether you’re local or in a different market? January public speaking gigs: January 12: Top Producer Panel in Granite Bay (sold out) January […].
George Dell
JANUARY 12, 2022
You’d think client/user expectation would follow wise professional leadership. Hah! Innovation and leadership in knowledge and education has declined. The profession and its key organizations have long lost their default position. Pride in designations are diminished. Replaced by licensing, outdated appraisal processes, echoed education, and octopus-like regulation.
Housing Wire
JANUARY 11, 2022
Since its launch in August 2020, FinLedger has kept its pulse on the explosive and expansive sector of financial technology for thousands of readers. And now we’re ready for the next stage of FinLedger’s growth. As part of HW Media’s vision to cover All Things Housing, FinLedger will narrow its focus to proptech coverage, doubling down on a category of fintech that attracted $32 billion in investment in 2021 and yet is oft-overlooked by newsrooms.
Appraisal Buzz
JANUARY 10, 2022
If you talk to a professional risk manager working in the home finance industry, they’ll tell you that risk is hiding everywhere. While they may be overstating it, they aren’t doing it by much. This is why federal regulators require banks to do such rigorous stress testing, proving that they can respond appropriately to any risk they may face. We saw a great deal of this in the years following the Great Recession, but over the last year or two we’ve heard much less about stress testing.
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Eyes on Housing
JANUARY 14, 2022
The prices of goods used in residential construction ex-energy climbed 1.5% in December (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The index was driven higher by large price increases for wood products. Building materials prices increased 15.9% in 2021 and have risen 18.6% since December 2020.
Housing Wire
JANUARY 10, 2022
HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays. HousingWire: What are some unexpected things that can delay a home closing? Tom Kriby: Everyone knows home inspections and appraisals can hold up a closing, but insurance is another possible roadblock for an on-time closing.
Appraisal Buzz
JANUARY 12, 2022
In today’s Buzzcast, we dive into the new year and what to expect in the appraisal industry for 2022. Today we have Joan Trice, Founder of Clearbox, LLC., and Steven French, CEO of SettlementOne Valuation, LLC. We’ll be getting the inside scoop while they discuss this upcoming year in the industry. What has this year alone taught appraisers? What are the important issues that lie ahead in the year 2022?
DW Slater Company
JANUARY 12, 2022
Happy New Year! As we begin a new year, I wanted to take a moment to discuss what that may mean. It seems that we don’t really hear much about “New Year’s Resolutions” anymore. Perhaps, it’s because they seem to be impossible. I “resolve” to do this or not do that and of course, that resolve can only go so far and we just feel like we failed. If I don’t make any resolutions, then I won’t fail, right?
Eyes on Housing
JANUARY 10, 2022
Average hourly earnings for residential building workers have been growing fast recently, driven by the tightening construction labor market. Last Friday, the Bureau of Labor Statistics (BLS) reported that the unemployment rate declined to 3.9% in December, the lowest rate since the pandemic. As the labor market remains tight, wages have increased rapidly, particularly in residential building sector.
Housing Wire
JANUARY 13, 2022
The average 30-year fixed rate mortgage increased to 3.45% during the week ending Jan. 13, up from 3.22% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.79%. The 15-year fixed rate mortgage averaged 2.62% last week, up from 2.43% the week prior. A year ago at this time, it averaged 2.23%.
Appraisal Buzz
JANUARY 10, 2022
Re-issuing a survey first completed three years ago, PropertyShark, a property research firm for commercial and residential tracts, found that Millennials have become more pessimistic about their housing options than they were three years ago while Generation Z’s feelings have also dampened. According to the survey, the “wild optimism” that Gen Z expressed three years ago about owning a home … The post Gen Z Less Optimistic About Home Ownership appeared first on DSNews.
Urban
JANUARY 13, 2022
Identifying disparities and their causes can lead to strategies to help people get over financing barriers, address the legacies of racist policies and practices, and tap into the security and wealth-building power of homeownership.
Eyes on Housing
JANUARY 12, 2022
Led by higher prices for shelter and used vehicles, consumer prices soared by 7.0% in December from a year ago. It was the largest year-over-year gain since June 1982. However, energy prices fell in December, ending a long series of increases. Supply-chain constraints and strong consumer demand related to the pandemic and the reopening of the economy have contributed to.
Housing Wire
JANUARY 11, 2022
Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing. The acquisition is intended to enable Seattle-based Redfin to expand its loans products nationally, as it wants to be a one-stop-shop for brokerage and lendin
Appraisal Buzz
JANUARY 10, 2022
Re-issuing a survey first completed three years ago, PropertyShark, a property research firm for commercial and residential tracts, found that Millennials have become more pessimistic about their housing options than they were three years ago while Generation Z’s feelings have also dampened. According to the survey, the “wild optimism” that Gen Z expressed three years ago about owning a home … The post Survey Finds Affordability to be Biggest Barrier to Homeownership appeared first on the
Urban
JANUARY 12, 2022
A combination of loss mitigation solutions and Homeowner Assistance Fund dollars will support a more robust recovery.How Can Policymakers Ensure the Homeowner Assistance Fund Reaches People in Need?
Eyes on Housing
JANUARY 14, 2022
The latest Mortgage Bankers Association’s (MBA) weekly application surveys shows a decline for refinancing and an increase in mortgage purchasing. The 30-year fixed-rate mortgage rate increased, averaging close to 3.4 percent for the month and was 3.52 percent in the latest week, the week ending January 7th. In the latest week, total mortgage applications, as proxied by the MBA’s Market.
Housing Wire
JANUARY 11, 2022
RE/MAX Holdings CEO Adam Contos is stepping down effective March 31, 2022. While the company plans to form a CEO search committee, Board Member Stephen Joyce will be appointed Interim CEO. Contos and Joyce will serve as co-CEOs beginning March 1. Nick Bailey will continue to lead RE/MAX LLC as president and CEO. Ward Morrison company’s Motto Mortgage operations.
Appraisal Buzz
JANUARY 14, 2022
Housing supply fell to a new low in December 2021, fueling a 3.6% month-over-month drop in home sales, severely affecting housing demands. The post Home Sales Saw Largest Monthly Decline Since Pandemic Onset appeared first on theMReport.com. The post Home Sales Saw Largest Monthly Decline Since Pandemic Onset appeared first on Appraisal Buzz.
Midtown Appraisal Group
JANUARY 11, 2022
Where data, experience and insight meet In previous posts, we’ve talked about how appraisers use data and comparable sales in order to arrive at a valuation for properties. For residential properties, comparable sales tend to offer a good starting point: If four similar properties on the street have sold in the past few months, they […].
Riverfront Appraisals
JANUARY 12, 2022
For the past couple of years, I’ve been blogging about appraisal topics for various audiences. Most recently, I’ve focused on the homeowner and the loan officer. All throughout 2022, my focus will be on helping Realtors understand a little more about appraisals. Each month, I’ll write about a topic that affects both the appraiser and […]. The post How to Determine Adjustments appeared first on Riverfront Appraisals.
Housing Wire
JANUARY 12, 2022
Mortgage applications climbed 1.4% for the week ending Jan. 7, 2022, according to a survey published by the Mortgage Bankers Association this week. The growth was buoyed by a 2% increase in the trade group’s seasonally adjusted purchase index, the MBA said. Per the report, the unadjusted purchase index increased 51% compared to the previous week but was 17% lower than the same week one year ago.
Appraisal Buzz
JANUARY 14, 2022
Homeowners spent an average of five years in their first home, with millennials spending four, and paying higher prices for their first home. The post On Average, Millennials Are Paying More for Starter Homes appeared first on theMReport.com. The post On Average, Millennials Are Paying More for Starter Homes appeared first on Appraisal Buzz.
D Fritz Appraisals
JANUARY 8, 2022
The Rise of Drones in the Canadian Real Estate Industry. Using drones for real estate photography is a topic that drew a lot of chatter in the early 2010’s as a hotly debated topic among real estate agents. First used to highlight luxury properties with state-of-the art video listings on real estate websites, the use of aerial drone photography and videography for real estate transactions is now commonplace.
Hank Miller Team
JANUARY 9, 2022
It's easy to file the Georgia homestead exemption. In just a few minutes, Georgia homeowners can reduce their property tax bill. Georgia homeowners are eligible for this exemption on their primary residence if the home was purchased last year and occupied on January 1st. The exemption is not eligible on investment or vacation homes. This is not automatic, the homestead exemption must be filed in the property owner's county, it's quick and easy; there's no reason not to save this money.
Housing Wire
JANUARY 14, 2022
HomeSmart is a growing real estate brokerage that may go public, but the company faces questions about its business model and the compensation of founder and CEO Matt Widdows. Founded in 2000, Scottsdale, Arizona-based HomeSmart is the seventh largest brokerage in the country by transaction sides, or how many times a HomeSmart agent represented the buyer or seller in a deal, according to RealTrends.
Appraisal Buzz
JANUARY 14, 2022
The negative impacts on the marketability of residential properties caused by odors from pet dander, feces, and urine can be significant factors in the price a buyer is willing to pay. For example: I had an assignment to appraise a 3,500 sq. ft. four-year-old masonry house of well above average quality construction. It was unoccupied so I used my MLS Lockbox key for access.
GoForrmz
JANUARY 13, 2022
GoFormz and Acumatica customers can now leverage a direct integration between their GoFormz digital forms and Acumatica records SAN DIEGO, CA — January 13, 2022 — GoFormz (www.goformz.com), the leading mobile forms and data capture platform today announced it has launched an integration with Acumatica, the world’s fastest-growing cloud ERP company. With this integration, users can attach a form completed in GoFormz to an object within Acumatica, as well as map specific form data to Acumatica fie
Empire Appraisal Group
JANUARY 13, 2022
Top 10 ‘Hot Markets’ for 2022? Eight Are in Fla. By Kerry Smith. A hotness study of U.S. metros – defined as days on market, sales above list price and sale-to-list price ratio – finds 8 are in Fla., and 7 of 10 are in SW Fla. ORLANDO, Fla. – In a “hot” real estate market, listings sell quickly once they hit the market, they collect more offers above list price, and the amount above list price is higher than in cooler markets.
Housing Wire
JANUARY 14, 2022
Rochester, New York. On Saturday, high temperatures in Rochester, New York, will plummet to a frigid eight degrees Fahrenheit and the city has already seen over 18 inches of snow since the start of the year. . That’s standard for Rochester, a city on the banks of Lake Ontario that quickly grew after the American Revolution and gave birth to Eastman Kodak and Xerox , but whose population has tumbled from around 350,000 in the mid-20th century to just over 200,000 today.
Appraisal Buzz
JANUARY 14, 2022
Pat Dodd has been appointed to the position of interim President & CEO, replacing Frank Martell, who will assume the position of non-executive Chairman of the CoreLogic Board. The post CoreLogic Announces New CEO appeared first on DSNews. The post CoreLogic Announces New CEO appeared first on Appraisal Buzz.
Valuation Review
JANUARY 12, 2022
Earlier, Valuation Review brought to the readers’ attention an acquisition pertaining to Voxtur Analytics Corp., the technology company creating a more transparent and accessible real estate lending ecosystem. Further to the news releases issued on Nov. 24, 2021, and Dec. 21, 2021, Voxtur officially announced it has completed the acquisition of Benutech, Inc.
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