Sat.Jul 02, 2022 - Fri.Jul 08, 2022

Is A Cubicasa Scan an Inspection?

Cleveland Appraisal Blog

In one Facebook group the other day, (yes, I’m back on Facebook ) one member mentioned they feel that a person who scans a property to provide an appraiser with a floor plan should be licensed. What do you think?

Accurity Consolidated Sets Impressive Goals, Shatters Records

Appraisal Buzz

HOUSTON, TX (July 6, 2022) – Accurity Consolidated is once again turning heads and taking its place as the highlight of appraisal industry conversations. The company’s innovative team of appraisers continue to set impressive goals and break records that are simply unheard of among the competition.

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A sharp change in the housing market

Sacramento Appraisal Blog

A quick change in rates has led to a quick change in the housing market. We didn’t see much difference right away in the stats, but we are finally getting some good numbers now. Let me show you what I mean.

Sprout Mortgage to shutter

Housing Wire

Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday. The company informed workers of the shut down in a conference call on Wednesday, a former staffer said.

What is a Valuation Model?

George Dell

A valuation model may not be a model valuation. What happened with that sentence? It’s called “equivocation.” Something I learned about in my college English class. What I learned is that a word can be used for different meanings.

Aggression Analysis

Appraisal Buzz

The post Aggression Analysis appeared first on Appraisal Buzz. Buzztoons appraisal appraisal buzz appraiser appraisers appraising buzztoon buzztoons

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Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter.

Construction Job Openings Leveling Off

Eyes on Housing

The construction labor market remains tight, but the total number of open construction sector jobs has likely reached a cyclical peak as economic activity slows in response to tighter financial conditions.

Floify Streamlines Digital Loan Origination Process with Single Sign-On Functionality

Appraisal Buzz

Floify , a subsidiary of Porch Group Inc., has released its new Single Sign-On (SSO) functionality. The SSO provides lenders and loan originators with a quick and simple way to make the mortgage process even easier and more secure for borrowers.

Company exec offers insight on collateral risk enhancement, role of technology

Valuation Review

A new article from Fannie Mae indicated that leveraging technologies, data, and analytics to enhance the management of collateral risk is making the process more efficient for lenders, borrowers, appraisers and secondary-market investors.

Home price growth expected to dip as demand normalizes

Housing Wire

Home price appreciation, which skyrocketed during the pandemic, is showing signs of slowing, according to a monthly report published by CoreLogic Tuesday. In May, home prices increased by 20.2% year-over-year, the report said.

Property Taxes Make Up More Than One-Third of State and Local Tax Revenue

Eyes on Housing

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $672.9 billion in taxes were paid by property owners in the four quarters ending Q1 2022 (not seasonally adjusted), a 0.1% quarterly increase.[1] 1] State and local governments collected $1.9

Consumers Continue Expressing Pessimism with Housing Market, Fannie Mae Reports

Appraisal Buzz

Fannie Mae ’s Home Purchase Sentiment Index (HPSI) shows a decrease of 3.4 points in June to 64.8, its second-lowest reading in a decade.

How to Save for Retirement as a Real Estate Agent

McKissock

It might seem difficult to save for retirement as a real estate agent when you’re not sure what your income will be from month to month, or when you don’t have an employer-sponsored 401(k). That doesn’t mean it’s impossible, however.

What does another good job report mean for a recession?

Housing Wire

What does it mean to get a positive job report with all the talk about a recession, which ramped up starting in January 2022? Let’s look at the U.S. jobs and economic numbers as five of my six recession red flags are up today.

Solid Job Gains in June

Eyes on Housing

Despite interest rate hikes, job growth remained solid in June. Total nonfarm payroll employment increased by 372,000 and the unemployment rate remained at 3.6% in June. Construction industry employment (both residential and non-residential) totaled 7.7

All Risk, No Reward? For Appraisers, a Question Worth Asking

Appraisal Buzz

We live in unprecedented times regarding appraiser scrutiny. Fannie Mae and Freddie Mac review appraisals using Collateral Underwriter and Automated Collateral Evaluation. State boards field complaints about appraisals, often when appraised value is below sales contract price.

Fla. Unlikely to Feel Impact from Slowing Market

Empire Appraisal Group

Unlikely to Feel Impact from Slowing Market. Wary buyers and rising interest rates may affect some U.S. markets, but Fla.’s s rising demand and lack of construction will probably offset a potential cooldown. WEST PALM BEACH, Fla. –

Ex-workers sue Sprout Mortgage over unpaid salaries

Housing Wire

Just two days after it abruptly shut down its operations, non-QM lender Sprout Mortgage became the target of a class-action-seeking lawsuit.

Higher Rates Reduce Mortgage Demand

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending July 1, total mortgage activity decreased, with the 30-year fixed-rate mortgage (FRM) rate reaching 5.8% on average.

Keith Kemph: Why the LOS RFP is Dead – and Why That’s a Good Thing

Appraisal Buzz

PERSON OF THE WEEK: Industry observers will tell you that mortgage lenders typically turn away from an existing Loan Origination System (LOS) in favor of a new one every 5 years or so.

EVP launches new technology to assist lenders

Valuation Review

Equity Valuation Partners (EVP), a provider of home value services, valuation tools and property value data for the real estate industry, recently announced the launch of Inhabet.

Purchase mortgage rates fall 40 bps amid recession fears

Housing Wire

Purchase mortgage rates this week continued their recent downward trend, dropping 40 basis points to 5.30%, according to the latest Freddie Mac PMMS Index. A year ago at this time, 30-year fixed rate purchase rates were at 2.90%.

Slightly Longer Time to Build Apartments in 2021

Eyes on Housing

The average length of time to complete construction of a multifamily building, after obtaining authorization, is 17.5 months, according to the 2021 Survey of Construction (SOC) from the Census Bureau.

U.S. Job Growth Remained Strong in June

Appraisal Buzz

The U.S. economy added about 372,000 jobs in June, above expactations, however, the unemployment rate remained unchanged compared with May at 3.6%, according to the U.S. Bureau of Labor Statistics.

Appraisal Blog The Realtor’s Guide to Appraisals Part 7: Common Myths About Appraisals

Riverfront Appraisals

Over the years, we’ve heard it all. Misunderstandings about the appraisal process are plentiful, and some of those really do affect the way you do business. So this post will address (albeit briefly) five of the most common myths we’ve heard.

In retreat, Wells Fargo cuts additional mortgage jobs

Housing Wire

Wells Fargo, the third-biggest mortgage lender in the country, will lay off 125 employees in its home lending division in Iowa by the end of August.

Hispanics Comprise 61% of the Construction Workforce in Texas

Eyes on Housing

The earlier June post highlighted the rising number and share of Hispanics in the construction industry. Hispanics now account for almost a third of the construction workforce, according to the 2021 Current Population Survey.

Q1 REO Inventory Increases 3%

Appraisal Buzz

Since entering conservatorship in 2008, Fannie Mae and Freddie Mac to date have assisted nearly 6.5 million homeowners with foreclosure prevention actions. The post Q1 REO Inventory Increases 3% appeared first on DSNews. The post Q1 REO Inventory Increases 3% appeared first on Appraisal Buzz.

7 Best Books for Rental Property Managers [in 2022]

The Robert Weiler Company

Whether you are just starting out as a rental property manager or an experienced property manager looking to refine your strategy, education is essential to taking the next step and succeeding.

8 of 10 consumers: “Economy is on the wrong track”

Housing Wire

Roughly eight in 10 consumers participating in a recent survey are frustrated with the housing market, inflation and the increasingly worsening economy — reflecting record-setting dissatisfaction from respondents of Fannie Mae ‘s Home Purchase Sentiment Index (HPSI).

4 Ways to Help Manage Client Expectations

McKissock

Real estate transactions are similar to putting together a jigsaw puzzle. Every transaction involves multiple parties, motives, challenges, and timelines.

Cost Burdened Households Increased During Pandemic

Appraisal Buzz

The COVID-19 pandemic did not just cause a global health crisis; not only did it throw the economy in a tizzy but it made certain markets behave in ways people have not seen before and could not anticipate.

Eminent Domain Attorney Review

Appraisers Blog

How Does an Eminent Domain Attorney Critique and Review An Appraisal Upon Which His Client’s Just Compensation Is Based? Attorneys representing property owners and appraisers responsible for documenting the value of the property being taken often work together in an eminent domain case.

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