Sacramento Appraisal Blog
OCTOBER 25, 2022
Home prices are the holy grail in real estate, and it almost seems sinful or off-limits to say they’re going down. But let’s be real. That’s what is happening right now locally and in some other portions of the country. Let’s talk about what this means as well as what’s going on in appraisal reports. […]. The post Are home prices declining?
Housing Wire
OCTOBER 28, 2022
Pending home sales continued their downward spiral in September, recording a 10.2% month-over-month decline that resulted in an index reading of 79.5, according to data released Friday by the National Association of Realtors. This is the fourth consecutive month of declines. Pending home sales have now fallen in 10 of the last 11 months. Economists predicted that pending home sales would drop by 4.0% in September.
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Cleveland Appraisal Blog
OCTOBER 27, 2022
Are you anticipating having your home appraised? How can you prepare for the inspection? This week I welcome back guest blogger, Betty White, who shares her thoughts on ways to prepare. While she is not an appraiser, I am, and I agree that these things can help! I hope you find this information helpful! When selling or refinancing a house, an appraisal is typically necessary.
Appraisal Buzz
OCTOBER 25, 2022
*The Appraisal Buzzcast Video will appear here at 5 am on 10/26*. Today’s Buzzcast interview is with Tom Winant and Alan Jeary of STRAAM Group. We sat down with Tom, Alan, and Joan Trice, Founder of Allterra Group, LLC, to discuss what the appraisal industry needs to know about structural risk. How can structural risk impact the appraisal? These questions and much more will be answered between Tom, Alan, and Joan as they dive into this subject.
Eyes on Housing
OCTOBER 25, 2022
After bottoming out at 19% in the first quarter of 2022, the popularity of new homes continues to rebound, as the share of buyers looking for new construction rose to 21% and 27% in the second and third quarters of the year, respectively. A possible factor behind this trend is that the inventory of new homes for-sale is 25% higher.
Housing Wire
OCTOBER 24, 2022
The Federal Housing Finance Agency (FHFA) on Monday announced that it is replacing the Classic FICO credit model, which Fannie Mae and Freddie Mac have relied on for nearly 20 years, for the FICO 10T and VantageScore 4.0. “They will provide more accurate credit scores, and we believe the market, including investors, will be provided with an improved understanding of risk from not just one but two different credit score models,” Sandra Thompson, the FHFA’s director, said during
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Appraisal Buzz
OCTOBER 28, 2022
“The above analysis clearly indicates a property in flood zones sells for less and appreciates slower over time than a similar property outside flood zones, given everything else is equal, in Miami,” according to CoreLogic’s report. The post Case Study: Impact of Flood Risk on Property Values appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 28, 2022
For the second straight quarter, more prospective buyers expect housing availability to improve. In the third quarter of 2022, 37% of buyers expect the home search to get easier in the months ahead, up from 17% and 22% in the first and second quarters of the year, respectively. More for-sale inventory and less competition from buyers priced-out by higher mortgage.
Housing Wire
OCTOBER 28, 2022
More than 18 months after the planned merger was announced, Flagstar Bank and New York Community Bank on Friday received approval by the Office of the Comptroller of the Currency. The depository banks, which first announced plans 19 months ago, extended their agreement to merge from Oct. 31 to Dec. 31, but still require the approval of the Federal Reserve.
Appraiserblogs
OCTOBER 26, 2022
Does a mortgage lender have liability to the borrower for a negligent appraisal? As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years.
Appraisal Buzz
OCTOBER 28, 2022
The National Association of Realtors’ latest Pending Home Sales Index showed transactions sliding by 31% year-over-year. Contract signings also pulled back in all four major U.S. regions, with inflated mortgage rates continuing to hinder homebuyers from purchasing a home. The post Pending Home Sales Drop in September appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 27, 2022
Real GDP grew in the third quarter, after shrinking for the first two straight quarters of 2022. This quarter’s growth was mostly fueled by a decline in the trade deficit. More important, the data from the GDP report suggests that inflation is cooling. The GDP price index, rose 4.1% for the third quarter, down from a 9.0% increase in the.
Housing Wire
OCTOBER 28, 2022
As the mortgage industry faces the realities of rising interest rates, savvy lenders are shifting gears towards the potential profitability of home equity lending. HousingWire recently spoke with Paul Harris, SVP of sales at DataVerify, about capitalizing on the home equity market with the help of automated tech solutions and mutually beneficial partnerships.
Appraiserblogs
OCTOBER 24, 2022
ABC TV Documentary: Our America: Lowballed Because this issue was ignored by the appraisal industry, it is open season on appraisers. Because of the lack of credibility or awareness of the diversity issue that the appraisal industry faces by the two primary appraisal industry organizations, The Appraisal Institute and The Appraisal Foundation, there is no counter that can be presented to this continuing storyline.
Appraisal Buzz
OCTOBER 27, 2022
The number of zombie properties inched upward in Q4, and though they remain a small portion of the market at just one in every 13,000 residential properties nationwide, those numbers are projected to grow in the aftermath of foreclosure moratoria lapsing. The post Vacant Homes in Foreclosure Record Third Consecutive Quarterly Increase appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 28, 2022
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.4% in September, the eighth consecutive monthly increase of this year. Gains in personal income are largely driven by increases in compensation of employees and personal income on assets. Real disposable income, income remaining after adjusted for taxes and inflation, stayed flat in.
Housing Wire
OCTOBER 28, 2022
All Things Housing. HousingWire Annual is where the community from across the housing ecosystem comes together to share strategies, drive business, discover new technologies, discuss best practices, and meet industry leaders. During this year’s conference, content spoke to questions about the economy, how to build a winning team, and attract a community of loyal customers.
Birmingham Appraisal
OCTOBER 26, 2022
Don’t Be Guilty of Pricing Your Home Too High. It’s already been said, however, I think it is worth stating again that the market has shifted. It’s important to keep this in mind when pricing your home to sell because if you don’t this could cost you both time and money. In fact, the market continues to shift. Anything that is related to the real estate market that changes has the potential to influence how much you can sell your home for and how long it might take to sel
Appraisal Buzz
OCTOBER 27, 2022
A new document outlines a list of proposals and alternatives under consideration for the Consumer Financial Protection Bureau’s data rights rulemaking—strengthening consumers’ access and rights to their financial data—through updates to the Dodd-Frank Act. The post Feds Aim to Return Financial Data Rights to Consumers appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 27, 2022
Housing’s share of the economy edged lower at the end of the third quarter of 2022. This is the first quarter where GDP increased for 2022, with overall GDP increasing at a 2.6% annual rate, following a 0.6% decrease in the second quarter and 1.6% decrease in the first quarter. However, due to higher interest rates, housing’s share of GDP.
Housing Wire
OCTOBER 28, 2022
This panel will explore the power of mentorship and allies among women within lending and real estate and the benefits that these relationships can have for both junior-level and executive women in the industry. How can this relationship help support emerging leaders and balance out a male-driven industry? In what ways can those in the industry help to create an environment that sets women up for success and allows for a sustainable, long-term career?
GoForrmz
OCTOBER 26, 2022
Get ahead with real estate automation The real estate market has seen a lot of unusual trends in the past couple years, and it’s no surprise things have been pretty weird. In 2021 , we saw houses receive multiple offers and sell for thousands of dollars over asking price within hours. Now as 2022 starts to wind down, a lot of people are trying to forecast how the housing market will turn out in 2023.
Appraisal Buzz
OCTOBER 26, 2022
Median sales price now sits below the highs recorded during June, while inventory hit a recent record high. Click through to find out what else RE/MAX’s National Housing Report found. The post Market Exhibiting Signs of Seasonal Slump appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 24, 2022
The share of adults planning a home purchase within a year rose to 15% in the third quarter of 2022, up from 13% in the first half of the year. The marginal increase suggests that the prospect of higher mortgage rates in the near term may be leading a small segment of consumers to consider the purchase of a home.
Housing Wire
OCTOBER 24, 2022
Ginnie Mae President Alanna McCargo on Monday announced changes to the re-pooling seasoning requirement for re-performing loans, which it says will increase issuer liquidity. The government mortgage insurer will shorten the seasoning requirement from six months to three months and allow issuers the option to pool re-performing loans into TBA-eligible Ginnie Mae II Multi-Issuer Pools.
Valcre
OCTOBER 26, 2022
Appraisals are a necessary part of anyone looking to buy or sell a property, and commercial real estate appraisals differ vastly from residential appraisals.
Appraisal Buzz
OCTOBER 26, 2022
A new Urban Institute report argues that the normalization of forbearances for life occurrences like job loss could keep thousands out of the foreclosure process every year. The post Commentary: Permanent Forbearance Could Prevent Future Foreclosures appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 24, 2022
Nonfarm payroll employment increased in 44 states and the District of Columbia in September compared to the previous month while six states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 263,000 in September, following a gain of 315,000 jobs in August. On a month-over-month basis, employment data was strong in Florida, which.
Housing Wire
OCTOBER 27, 2022
Independent mortgage brokers are beginning to have the products and tech tools needed to compete with banks and large retail lenders, and customers are reaping the benefits of this growing channel. HousingWire recently spoke with Desmond P. Smith , chief growth officer for United Wholesale Mortgage, about the transition from retail to wholesale for brokers and what the future of the independent broker channel holds. .
George Dell
OCTOBER 26, 2022
There are three specific terms used to define what is a comp. It should be competitive, similar, and able to be compared. Competitive means what a ‘typical’ buyer would consider as between the comp, and the subject, if they were available in the marketplace at the same time (the date of value). Similar means “resembling […]. The post Three Ways to Pick a Comp?
Appraisal Buzz
OCTOBER 25, 2022
“Today’s decision will benefit borrowers and the Enterprises, along with maintaining safety and soundness,” said Sandra L. Thompson, Director of the FHFA. The post FHFA Approves New Credit Scoring Models for GSEs appeared first on Appraisal Buzz.
Lamacchia Realty
OCTOBER 28, 2022
We are thrilled to share that Laurie Howe Bourgeois has qualified for the Lamacchia Realty President’s Club ELITE for the 2nd year in a row ! Laurie is a frequent flyer in Lamacchia Realty’s President’s Club, achieving the base status in 2019 , 2020 , and 2021 , and 2022. Reaching the ELITE level for two years in a row is quite the accomplishment, demonstrating her ability to consistently sell over $26,000,000 in sales volume.
Housing Wire
OCTOBER 26, 2022
Nonbank mortgage lender and servicer Pennymac Financial Services imposed a new round of layoffs to its employees this week, ahead of its third-quarter earnings report on Thursday. . The California-based company had several rounds of layoffs this year, including a workforce reduction of 236 employees in March, another 207 staff members in May and additional 32 jobs in July. .
BiggerPockets
OCTOBER 25, 2022
As a vacation rental host, you want to do everything you can to make your guests feel at home. One way to do that is by providing them with freebies […].
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