Sat.Jan 01, 2022 - Fri.Jan 07, 2022

FHFA to GSEs: Back to the drawing board on Duty to Serve

Housing Wire

A federal law mandates that Fannie Mae and Freddie Mac help households on moderate, low, or very low income.

Legal 413

Protecting Condos as a Sustainable Housing Option

Appraisal Buzz

In the days following the tragic condo building collapse in Surfside, Florida, information emerged about known issues with that building.

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Real estate trends to watch in 2022

Sacramento Appraisal Blog

What’s the real estate market going to do in 2022? Let’s talk about some of the emerging trends. Scroll quickly or digest slowly. Anything to add?

The Public Trust – A For-Real Goal?

George Dell

Resolved: To protect the overall public trust. The ostensible purpose of government is to serve the public good. Government regulators are charged with quite a responsibility. A difficult job. Politics, pulls, jabs, and pokes abound. Everyone has a different view. But is that a real goal for 2022?

Home affordability plummeted in fourth quarter

Housing Wire

Homeownership continues to swerve into unaffordable territory, with median-priced single-family homes becoming less affordable in three-quarters of the nation’s market, a report published by ATTOM Data Solutions last week said.

More Consumers Believe Rates Will Go Up in 2022

Appraisal Buzz

Fannie Mae’s latest iteration of the monthly Home Purchase Sentiment Index (HPSI) fell by a slight 0.5 points to 74.2 in December as consumers wildly differed on whether it is a good time to buy or sell a home and their outlook on the economy.

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Domestic Sawmill Output Continues to Lag Home Construction

Eyes on Housing

The failure of domestic sawmills to sufficiently boost output in the face of ongoing strong home buyer demand was a primary factor that contributed to record-high lumber prices and price volatility in 2021.

FHFA hikes fees for high-balance and second-home loans

Housing Wire

The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio.

Low Rates Keeping the Winter Market Strong

Appraisal Buzz

Looming threats of rising interest rates coming this year are pushing more homeseekers into the market who are eager to get into a home before those threats become a reality.

5 Things You Should Know BEFORE Moving to Holly Springs, NC (2022)

Raleigh Realty

Living in Holly Springs, NC Find out why so many folks are moving to Holly Springs, NC Holly Springs, North Carolina is one of the best places to live in the country so it's no wonder so many folks are trying to move here.

Strong Year-over-Year Gains for Construction Job Openings

Eyes on Housing

The construction labor market remains tight, as the levels of quits rise. The count of open construction jobs declined to 345,000 unfilled positions in November, after recording the highest measure in the history of the data series (going back to late 2000), 445,000 in October.

The big short in housing supply isn’t going away

Housing Wire

This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event.

How Mortgage Rates Are Impacting Homebuyer Decisions

Appraisal Buzz

Americans are finding their homebuying strategies dependent on current and future mortgage percentages as the housing market steadies. The post How Mortgage Rates Are Impacting Homebuyer Decisions appeared first on theMReport.com.

10 Things to Know BEFORE Moving to Cary, NC {2022}

Raleigh Realty

Planning on moving to Cary, NC? There's a reason it's on the list of Best Places to Live in North Carolina Cary is a great city for anyone looking to live in a top-rated town that offers excellent schools, weather, and amenities It's no wonder everyone is moving to Cary, NC.

Job Gains Slow in December

Eyes on Housing

Job gains slowed sharply for the second straight month in December as the Omicron variant began to spread. Nonfarm payrolls increased by 199,000 in December, and the unemployment rate fell to 3.9%. Construction industry employment (both residential and non-residential) totaled 7.6

Unemployment rates and mortgage rates both under 4%

Housing Wire

Today, the Bureau of Labor Statistics reported that 199,000 jobs were created in December — a miss from estimates. They also reported we had 141,000 in positive revisions to the previous jobs report. The unemployment rate is currently at 3.9%

Housing Supply Shortage May Continue Through Spring

Appraisal Buzz

HouseCanary Inc. ’s s latest Market Pulse report covers 22 listing-derived metrics and comparing data between December 2020 and December 2021. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform.

How Two-Generation Programs Can Advance Housing Stability

Urban

Because children who grow up living in poverty are less likely to succeed economically as adults, cycles of poverty and housing instability can span generations. Two-generation programs can disrupt those cycles

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Consumer Confidence Improved in December

Eyes on Housing

Consumer confidence continued to improve in December as inflation concerns eased after hitting a 13-year high last month. Spending intentions for homes, cars, and major appliances all increased.

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Mortgage rates start 2022 with an increase

Housing Wire

The average 30-year fixed rate mortgage increased to 3.22% during the week ending Jan. 6, up from 3.11% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.65%.

Consumers Indicate Now Is The Time To Sell

Appraisal Buzz

Fannie Mae’s latest iteration of the monthly Home Purchase Sentiment Index (HPSI) fell by a slight 0.5 points to 74.2 in December as consumers wildly differed on whether it is a good time to buy or sell a home and their outlook on the economy.

Who Manages Georgia Lakes?

Hank Miller Team

Buying a lake home presents additional challenges a normal home doesn't; in Georgia those challenges can be formidable. Two major players influence lake homes in Georgia; the US Army Corps of Engineers and Georgia Power.

Private Residential Spending Rises in November 2021

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.9% in November after a decrease of 0.2% in October 2021. It stood at a seasonally adjusted annual rate of $796.3 billion. Total private residential construction spending was 16.3%

20 state attorneys general take aim at mortgage servicers

Housing Wire

Some Federal Housing Administration -approved mortgage servicers have routinely flouted the agency’s loan modification program, according to Washington, D.C. Attorney General Karl Racine and 20 other state attorneys general. The attorneys general wrote in a Dec.

Mortgage Rate Increases: How They’re Impacting Housing Demand

Appraisal Buzz

Experts say over time, percentage growth will slow demand and put an end to double-digit annual price growth. The post Mortgage Rate Increases: How They’re Impacting Housing Demand appeared first on DSNews.

ASC policy manager reviews basics of AMC state requirements

Valuation Review

Valuation Review recently attended the 2021 Appraisal Summit conference in Las Vegas and caught up with Appraisal Subcommittee (ASC) Appraisal Policy Manager Jenny Tidwell. The ASC executive shared thoughts on what states require of AMCs, and what is being talked about for the future.

State-Level GDP in the Third Quarter of 2021

Eyes on Housing

Real gross domestic product (GDP) increased in 37 states and the District of Columbia in the third quarter of 2021 compared to the second quarter of 2021. According to the U.S. Bureau of Economic Analysis (BEA), the percent change increase in real GDP ranged from 6.0 percent in Hawaii to -3.3

Opinion: Mortgage industry will shed 100K jobs this year

Housing Wire

The most wonderful time of the year, as the song would have us believe, comes to a close with Epiphany, the 12 th day of Christmas, Jan. I do hope everyone had a joyous holiday season, spending some relaxing time with family and friends. The holiday season is winding down.

Clearbox and Appraisers – A Perfect Match

Appraisal Buzz

In today’s Buzzcast, we dive into Clearbox, LLC and the many benefits it offers the appraisal industry. Today we have Joan Trice, Founder of Clearbox, LLC., and Jim Morrison, VP of Marketing and Sales for Allterra Group.

Newly elected AI president sees tremendous opportunities in 2022

Valuation Review

As is tradition, Valuation Review brings you an exclusive interview with the new Appraisal Institute (AI) president. We caught up with Pledger (Jody) Bishop, III, and discussed many topics and how AI can be better in 2022. Read on for more of our conversation

California’s New Zoning Law Eases Building Restrictions but Depends on the Financing Industry to Play its Part

Urban

Lifting legal roadblocks alone will not guarantee an influx of additional or affordable housing. Homeowners and small developers need access to the financing necessary to build new infill units

Legal 103

What’s holding the industry back from broad-scale digital closing adoption?

Housing Wire

For well over a decade, the industry has made steady progress in digitizing mortgage closings. As a result, closings today fall on a spectrum of digitization, with benefits that increase with each component that is digitized and each document that is electronically signed (eSigned).

December Jobs Report Underwhelming But Unemployment Dropped to 3.9 Percent

Appraisal Buzz

The U.S. economy added 199,000 jobs in December – well below the 300,000+ expected – as the unemployment rate fell to 3.9%, according to the U.S. Bureau of Labor Statistics.

Reminder About Snow Removal Laws

Lamacchia Realty

A REMINDER ABOUT SNOW REMOVAL LAWS. The snow has arrived! Here is a reminder if you’re a property owner in Massachusetts: by law, you must remove or treat snow and ice on walkways and plow parking lots. You can be held liable for injuries caused by snow and/or ice on your property.

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