Sat.Nov 19, 2022 - Fri.Nov 25, 2022

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Is the Definition of Market Value Outdated?

George Dell

Editor’s Note: Is the Definition of Market Value Outdated? is a Guest Post from Bruce Hahn, SRA, MAI, CRE, CCIM. Why has the current definition of market value been around without change for so long? Many decades in fact!

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Buydowns become key for buyers to beat the market

Housing Wire

It’s a terrible time for homebuyers. Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power.

Buyers 392
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Bringing up the housing market during Thanksgiving dinner

Sacramento Appraisal Blog

I don’t recommend talking about real estate during Thanksgiving dinner, but if you need some flavorful conversation, I’ve got you covered.

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New Home Sales Increase in October

Eyes on Housing

New home sales rebounded in October despite higher mortgage rates, likely due to low existing home inventory and builders using incentives to attract buyers to the new home market. The U.S. Department of Housing and Urban Development and the U.S.

Inventory 152
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Despite market slowdown, homeowner equity keeps growing

Valuation Review

#mortgagedresidentialproperties #equityrich #ATTOM

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Mortgage rates dropped again, so why are some borrowers on the sidelines?

Housing Wire

Recent declines in mortgage rates, which are due to a slowdown in inflation growth, have been enough to convince some borrowers to apply for new home loans, according to recent data on mortgage applications. .

Mortgage 385

More Trending

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Gain for Custom Home Building

Eyes on Housing

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded during the third quarter of 2022 despite broader market weakness. There were 59,000 total custom building starts during the third quarter of the year.

Design 149
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Opendoor Lost Close to $1B in 3Q

Empire Appraisal Group

Source: Opendoor Lost Close to $1B in 3Q | Florida Realtors. By Kerry Smith. The RE market changed quickly as the Fed raised interest rates, and Opendoor’s CEO blamed that “once-in-forty-years market transition” for its $928M loss. Opendoor Lost Close to $1B in 3Q.

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Here’s why new home sales are up along with prices

Housing Wire

Today new home sales beat estimates , and new home median sales prices hit an all-time high. What is going on here? My job is always to be the detective, not the troll so let’s take a look at today’s data, as there is a constant theme here that I have talked about for some time.

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AI gives Capitol Hill updates on key appraisal issues

Valuation Review

#AppraisalInstitute #governmentrelations #proposednationallegislation #statelegislation

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97% Built-for-Rent Multifamily Construction Share

Eyes on Housing

According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the third quarter of 2022. At 141,000 units started, this was the largest quarter for rental multifamily construction since the second quarter of 1986.

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How to Pull Comps on a Complex Property

McKissock

When you are comparing like properties, pulling comps isn’t all that difficult. However, when it comes to atypical properties , the process becomes much more challenging.

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Demand for mortgages is on the rise as rates fall

Housing Wire

With mortgage rates down nearly 50 basis points from the recent peak about a month ago, borrower demand picked up again this week, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, rose 2.2%

Mortgage 342
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Time for appraisers to give ‘thanks’

Valuation Review

#Thanksgiving #tradition, #thankfulappraisers #holiday

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New Single-Family Home Size Trending Lower

Eyes on Housing

An expected impact of the virus crisis 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.

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AVMs… The Not So Accurate Magic Bullet

Appraisers Blog

That article mentioned three on-line services which claim to provide accurate property values. In alphabetical order, those services were REDFIN, ReMax, and Zillow. Folks, in all the diatribes against appraisers by people who believe “we” have built-in systemic bias, the topic of AVMs has come up.

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Inside Movement Mortgage’s acquisition plans

Housing Wire

Movement Mortgage CEO Casey Crawford and President Mike Brennan. Movement Mortgage’s deal to acquire top indie retail lender Mortgage Network marks a shift in the South Carolina-based company’s strategy.

Mortgage 329
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Beth Byrd Joins Forces with Lamacchia Realty Connecticut

Lamacchia Realty

We are thrilled to announce that Beth Byrd , a well-known and highly respected Leader and REALTOR® in the Connecticut real estate industry, has joined Lamacchia Realty.

Realty 61
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Small Increase for Missing Middle Multifamily

Eyes on Housing

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

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Online home valuation programs and why they are usually inaccurate

San Jose Real Estate

A study of 8 online home valuation sites and how different the answer is to the question "what's my home worth?".

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FinCEN expands GTOs on all-cash real estate transactions

Housing Wire

In late October, the Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Treasury Department , announced its decision to again expand its Geographic Targeting Orders (GTOs).

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Gina Shumilla Joins Forces with Lamacchia Realty Connecticut

Lamacchia Realty

We are pleased to announce that Gina Shumilla , a well know Real Estate Leader in Central Connecticut, has joined Lamacchia Realty. Gina joined alongside Beth Byrd as the first two Managers to head the new Lamacchia Realty Connecticut expansion.

Realty 61
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Employment Situation in October: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 42 states in October compared to the previous month while eight states and the District of Columbia lost jobs.

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NAR: Most Impactful technology tools for Realtors revealed

Valuation Review

#Realtors #eSignature #lockbox #technology #2022TechnologySurveyfromtheNationalAssociationofRealtors

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Home sales will only get worse next year before rebounding in 2024

Housing Wire

The forecast for the housing market is expected to get gloomier next year before rebounding to 2022 levels in 2024. Fannie Mae ‘s Economic and Strategic Research (ESR) Group forecasts single-family home sales to post 5.67 million in 2022 before dropping to 4.42

Contracts 312
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Decorating Your Home for the Holidays When it’s on the Market

Lamacchia Realty

DECORATING YOUR HOME FOR THE HOLIDAYS WHEN IT'S ON THE MARKET. The most wonderful time of the year is right around the corner, and that means it’s time for holiday movies, hot cocoa, and of course decking the halls with boughs of holly!

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Investing in Affordable Housing - Part 2 - Accountability to Housing Authority

Eppraisal

In the previous installment, readers discovered that there are profits to be realized when investing in properties with affordable housing units. In addition, landlords who do so are providing a service to the community.

Tenants 58
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FHFA publishes new UAD file

Valuation Review

#FederalHousingFinanceAgency #UniformAppraisalDataset #AggregateStatisticsDataFile

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Prepayment activity drops to another record low as mortgage rates top 7%

Housing Wire

Prepayment activity fell to another record low in October amid mortgage rates topping 7% and refis drying up. Black Knight expects that the steep declines in rate lock volume and seasonality factors point to further declines in prepayment activity. Prepayment dropped 16.5%

Mortgage 309
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5 Benefits of Appraisal Services

Appraisal Hub

The Toronto housing market is slowing down, showing a 6% decline in October 2022 compared to the same period last year. Now might be the best time to sell your home and avoid further falls in the market.

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Investing In Affordable Housing - Part 1 - Profitability

Eppraisal

As a rule of thumb, investors in rental properties look for tenants who pay rent consistently and have the pockets to pay decently. This assures steady income and financial security. Yet there is a segment of the population that also represents profitability even though they have few funds to spare.

Tenants 58
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Appraisal Institute CEO resigns

Valuation Review

The #AppraisalInstitute announced CEO Jim Amorin will resign effective Feb. 14, 2023. appraisers

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Forbearance rate increased in October for the first time in 29 months

Housing Wire

The forbearance rate increased marginally in October after more than two years of declines, the Mortgage Bankers Association (MBA) reported Monday. The trade group previously noted that it expected pressures due to worsening economic conditions. .

Mortgage 308
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What GoFormz Is Thankful For

GoForrmz

What we’re thankful for this Thanksgiving Thanksgiving is tomorrow and to celebrate the holiday, we want to share what our team is thankful for. At GoFormz, we take pride in not only the work we do for our customers but the environment we create for our employees.