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

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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. For second home loans, the upfront fees will increase between 1.125% and 3.875%, also tiered by loan-to-value ratio.

Finance 513
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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? January public speaking gigs: January 12: Top Producer Panel in Granite Bay (sold out) January 18: SAR Big Market Update (sign up here) January 19: PCAR WCR Big Market […].

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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. Several nearby condo buildings were evacuated because they too had significant deferred maintenance that led to potentially life-threatening structural deficiencies. The tragedy has focused attention on an emerging challenge: significant deferred maintenance of aging condo and co-op infrastructure.

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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? Or a fake goal? A real goal […]. The post The Public Trust – A For-Real Goal?

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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. The government-sponsored enterprises must do this by setting a plan every three years, dubbed Duty to Serve, that provides lending liquidity and preservation goals for manufactured, rural, and affordable housing. But according to the Federal Housing Finance Agency , which has oversight power over Fannie and Freddie, the GSE’s must go back to the drawing board when it comes to their

Legal 516
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What’s in Front of You

The Appraiser Coach

I call this the Bookstore Story, and it’s a story that I’ve told to my employees, my family, my friends, and even myself at times. It’s taught me some valuable. Read More.

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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. Soaring lumber prices, combined with delays and higher costs for other building materials, continued to be a significant limiting factor for home building throughout 2021 despite a.

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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%. The 15-year fixed rate mortgage averaged 2.43% last week, up from 2.33% the week prior. A year ago at this time, it averaged 2.16%.

Mortgage 490
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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. Whether you're ready to dive right into this article or would prefer to contact us to talk to one of our Realtors first hand we are here to help you With a population of just over 30,000 Holly Springs has been growing around 5-6 annually.

Realtors 148
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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. According to the latest Monthly Housing Market Trends Report by Realtor.com, national inventory of active listings declined by 26.8% over last year, while the total inventory of unsold homes, including pending listings, … The post Low Rates Keeping the Winter Market Strong appeared first on theMReport.com.

Marketing 370
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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 housing market remains underbuilt and requires additional labor, lots and lumber and building materials.

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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. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for next year, along with a roundtable discussion on how these insights apply to your business.

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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. If you are considering a move to Cary please feel free to connect with us to help with your relocation or any questions you may have 10 Reasons to Love Living in Cary: Community People Education Jobs Safety Family Weather Af

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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. The post How Mortgage Rates Are Impacting Homebuyer Decisions appeared first on Appraisal Buzz.

Mortgage 370
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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. However, consumer spending will continue to face headwinds from higher prices, Omicron surge and reduced fiscal stimulus in 2022. The Consumer Confidence Index, reported by the Conference Board, rose 3.9 points from.

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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. 21 letter that a number of mortgage servicers employed by FHA-approved lenders failed to adequately implement loan modification options the FHA introduced in July.

Mortgage 460
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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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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. We’ll be getting the inside scoop while they discuss how a profile on Clearbox can be advantageous. What does your profile on Clearbox display?

Appraisal 370
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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 million, with 22,000 construction jobs added in December. Residential construction lost 4,100 jobs while non-residential construction employment rose by.

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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. 6. I do hope everyone had a joyous holiday season, spending some relaxing time with family and friends. The holiday season is winding down. So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history.

Mortgage 438
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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.

Finance 117
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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. The post Mortgage Rate Increases: How They’re Impacting Housing Demand appeared first on Appraisal Buzz.

Mortgage 369
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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% higher than a year ago. These monthly gains are attributed to the strong growth of spending.

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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). On one end are traditional wet-ink signed closings, where all documents are signed in ink.

Investors 429
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3 Time Management Strategies Real Estate Pros Use to Get Ahead

McKissock

As part of our contributor series, John Walker talks about his best time management strategies for real estate agents and brokers. . Real estate is an industry that attracts a lot of entrepreneurs, self-starters, and big dreamers. Why? The short answer is the real estate industry offers virtually endless amounts of opportunity and in many cases, there are fewer roadblocks in order to get started than there are in other industries.

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Housing Supply Shortage May Continue Through Spring

Appraisal Buzz

HouseCanary Inc. ’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. “In 2021, the housing market drew plenty of headlines as a shrinking supply of homes available for rent and purchase caused properties to fly off the market at all-time high prices across the U.S.,” comments Jeremy Sicklick, co-founder and.

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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 percent in New Hampshire and North Dakota. Nationwide, growth in.

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Offerpad lands $600M more in credit to power iBuying

Housing Wire

As Zillow tries to swiftly disentangle itself from iBuying, a one-time competitor may borrow over $600 million more to radically increase its instant home-buying purchases. Offerpad , a Chandler, Arizona-based iBuyer, snared $500 million in a revolving credit facility from an unnamed lender, according to a Dec. 20 Securities and Exchange Commission filing.

Logistics 429
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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. The Corps of Engineers regulates and manages multiple lakes across Georgia, flood control is a significant responsibility of theirs.

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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. When combined, these metrics may indicate a slowing of the real estate market as we move into 2022. Overall, three of … The post Consumers Indicate Now Is The Time To Sell appeared first on DSNews.

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3 Resources to Help Reduce Appraisal Bias

McKissock

Phrases like appraisal bias, the appraisal gap, and discrimination in appraisals have become buzz words in the media over the past year. As a real estate appraiser, actions you can take to avoid bias and accusations of discrimination may include educating yourself on these issues, avoiding use of subjective terminology, carefully complying with USPAP and Fair Housing laws, and, in general, completing all appraisal assignments with objectivity and impartiality.

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[video] The three most important housing factors for 2022

Housing Wire

This video is part of our HousingWire 2022 forecast series. After the series wraps in January, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.

Inventory 438
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Customer Story: FOR Energy

GoForrmz

“ An audit takes a while.so to be able to shave time off of that is pretty valuable for the customer experience. ” — Vladimir Kostovski, Salesforce Consultant, FOR Energy. About FOR Energy Founded in 2010 in Phoenix, Arizona, FOR Energy helps homeowners maximize the energy efficiency of their homes with specialized Home Energy Check-Ups, Windows, and Solar Energy.

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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. Most of the job gains were in leisure and hospitality, professional and business services, manufacturing, construction, and transportation and warehousing. The number of unemployed persons decreased by 483,000 to 6.3 million.