Sat.Feb 18, 2023 - Fri.Feb 24, 2023

article thumbnail

The housing market is heating up & still frozen

Sacramento Appraisal Blog

The housing market is definitely heating up for the spring, but it still feels frozen with so many buyers and sellers sitting right now. I recently talked about sellers sitting out of the market, but today let’s look at buyers. UPCOMING (PUBLIC) SPEAKING GIGS: 3/06/23 Matt the Mortgage Guy YouTube Live 3pm PST 3/09/23 Matt Gouge Event […] The post The housing market is heating up & still frozen first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

article thumbnail

FHA makes 30 bps MIP cut, mortgage industry cheers

Housing Wire

The Federal Housing Administration (FHA) on Wednesday morning announced a 30 basis point reduction in the annual premium charged to mortgage borrowers. The cut, widely anticipated by the industry, will result in mortgage insurance premiums (MIP) of 55 bps for most borrowers, down from 85.

Mortgage 482
Insiders

Sign Up for our Newsletter

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

article thumbnail

The Hard to Find (Important) Details

The Appraiser Coach

I’ve recently been looking into real estate as an investor, and I found a rental property relatively close to my home that looked pretty promising. It was advertised as a.

article thumbnail

Additional Declines for New Home Size

Eyes on Housing

An expected impact of the pandemic was a need for more residential space, as people use homes for more purposes including work. During the housing boom after covid, this led to a rise for new single-family home size.

article thumbnail

Reasons To Get An Appraisal

Padove Appraisal Service

There are several reasons why someone may want to get a real estate appraisal: Buying or selling a property: If you are buying or selling a property, an appraisal can help determine its fair market value, which can be useful in negotiations and setting a listing price.

Appraisal 148
article thumbnail

Opinion: How the title industry protects homeowners

Housing Wire

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders.

Insurance 473

More Trending

article thumbnail

More homebuyers are blaming their agents — and hauling them to court

Inman

Even though the extreme seller's market is in the rearview mirror, disgruntled clients have been filing more lawsuits against their agents, according to an analysis by Victor Insurance Managers.

Agents 202
article thumbnail

Under-Valuations Unrelated to Racial Bias

Appraiserblogs

Valuation 137
article thumbnail

Wells Fargo conducts another round of layoffs in home lending business

Housing Wire

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I

Lending 469
article thumbnail

Market Still Strong as Low Inventory Persists- February Newsletter

DW Slater Company

It’s hard to believe that it has been 2 years since we experienced the great Texas Winter Storm when the Texas power grid failed and we went several days without power in our Texas homes that are not built to keep heat.

Inventory 132
article thumbnail

FAQ #8:  What Happens When the Appraisal Comes Back Under Contract Price?

Riverfront Appraisals

While this is indeed one of the most frequently asked questions we get – especially from homeowners – it’s not a new topic to our blog. I’ve written about it a few times over the years, but since the question keeps popping up, I’ll keep writing about it!

Contracts 133
article thumbnail

Multifamily Built-for-Rent Share Rises

Eyes on Housing

According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the fourth quarter of 2022. For the fourth quarter, 133,000 multifamily residences started construction. For 2022 as whole, 525,000 rental apartments started construction.

article thumbnail

New home sales continue to climb in 2023

Housing Wire

New home sales started off 2023 on a positive note, rising 7.2% from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday.

article thumbnail

How to put AI to work to make more money in your real estate business

Inman

ChatGPT is poised to become a truly disruptive technology — if you know how to use it. As she wraps up this three-part series, Bernice Ross talks with Jeff Lobb about specific content marketing use cases for ChatGPT.

article thumbnail

‘Opportunity’ to Work for Free is Not a Plan

Appraiserblogs

I gave this ‘opportunity’ further critical analysis in terms of time spent versus the fee income potential. Appraisers, I’d like to disclose a personal ‘opportunity’ that was presented to me last fall, early winter.

article thumbnail

Multifamily Developer Confidence Remains in Negative Territory in Fourth Quarter

Eyes on Housing

While the two main confidence indexes for multifamily housing increased slightly in the fourth quarter, they both remain in negative territory, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB).

article thumbnail

Higher rates flip the homebuilders’ fortunes (again)

Housing Wire

While the homebuilders weren’t surprised by the better-than-estimated new home sales report released Friday, some people were a bit shocked. But the forward-looking purchase application data was getting better from Nov. 9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%.

Inventory 409
article thumbnail

Wells Fargo lays off hundreds more, including some top producers

Inman

The bank says it has racked up $353 million in severance expenses as it closes branches and pursues a "more focused home lending business." Industry News Markets & Economy Mortgage Select correspondent lending layoffs wells fargo

Business 161
article thumbnail

5 Useful Appraisal Technology Webinars (Exclusive to Members)

McKissock

Here at McKissock, our Unlimited Learning Members enjoy 24/7 access to a wide variety of online resources for real estate appraisers. These include appraisal webinars, job aids, checklists, classes, and much more.

article thumbnail

New Home Sales Up in January but Higher Rates Signal Further Weakness

Eyes on Housing

Declining mortgage rates and home prices in January, coupled with home builders use of sales incentives, helped boost new home sales last month. The U.S. Department of Housing and Urban Development and the U.S.

article thumbnail

The savagely unhealthy housing market is over

Housing Wire

Last June, the Federal Reserve said it wanted a housing reset , which meant it wanted higher mortgage rates to destroy the housing market.

article thumbnail

New-home transactions roar to life with strongest sales pace in a year

Inman

A dip in mortgage rates and a backlog of empty homes helped power sales of newly constructed houses for the second-straight month in January, according to data released Friday by the U.S. Census Bureau. Agent Brokerage Markets & Economy Select census bureau housing economics new home sales

article thumbnail

Preparing for Retirement: How to Sell Your Appraisal Business

McKissock

Let’s say your retirement is secure. You have enough in savings and investments that you could stop working today, and be sure of living comfortably for the rest of your life. How are you going to dispose of your real estate appraisal business, if you decide to give it up?

article thumbnail

Custom Home Building Posts Small Gain in 2022

Eyes on Housing

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building gained market share during 2022. There were 44,000 total custom building starts during the fourth quarter of the year.

Design 124
article thumbnail

The housing industry is on a mortgage rate roller coaster

Housing Wire

The mortgage industry has been on a roller coaster ride this year due to a resilient economy. In the span of a month, mortgage rates shot up near 7% after dropping to the low 6%-levels. “The

Mortgage 377
article thumbnail

Chime: Chatbot AI Assistant at 93% conversational accuracy

Inman

The company attributes the success to "consistent coaching and humanizing of the chatbot," which in the past year increased daily messages by 322 percent and daily lead responses by over 108 percent. Select Technology artificial intelligence Chime Dave Carter phoenix

article thumbnail

Using Equity To Buy A Second Home

D Fritz Appraisals

How to Use Home Equity to Buy Another House Are you dreaming of owning a second home? Using equity to buy a second home can make your dream a reality.

Investing 125
article thumbnail

Existing Home Sales Continue to Fall in January

Eyes on Housing

As elevated mortgage rates and tight inventory continue to weaken housing demand, the volume of existing home sales declined for a twelfth consecutive month as of January, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999.

Realtors 110
article thumbnail

Housing Market Tracker: Mortgage rates spike as inventory falls

Housing Wire

Another week down in 2023 and we’re seeing crazier action in the housing market as purchase application data fell, mortgage rates rose again, and weekly inventory took another dive with a noticeable move lower in new listing data.

Inventory 365
article thumbnail

It’s a tool, not a solution: What top pros are saying about ChatGPT

Inman

Unchecked and unregulated AI has the potential to blur the lines of authorship and ownership, at the very least. Perhaps the less obvious reason to proceed with caution is ownership of your voice and not abdicating your unique expertise and value to a bot.

Tools 158
article thumbnail

Fla. Top State for 2022 Home Value Increases

Empire Appraisal Group

AndreyPopov, iStock, Getty Images Source: Fla. Top State for 2022 Home Value Increases | Florida Realtors Fla. Top State for 2022 Home Value Increases By Dylan Abad Analysis finds Fla. home prices rose 17.27% last year, the most in the U.S., with Vermont second at 15.15%.

article thumbnail

Missing Middle Housing Production Lags

Eyes on Housing

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties.

article thumbnail

Experian partners with Freddie Mac to streamline verification process

Housing Wire

Experian announced on Wednesday that lenders can now access its product, Experian Verify, through Freddie Mac ’s Loan Product Advisor asset and income modeler (AIM).

article thumbnail

Opendoor’s losses doubled in Q4 as the iBuyer’s revenue fell 25%

Inman

The dominant iBuyer lost nearly $400 million in the fourth quarter, according to an earnings call Thursday afternoon. That's better than the previous quarter, but a big jump from the same period in 2021.