Sat.Nov 12, 2022 - Fri.Nov 18, 2022

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The housing market will figure it out

Sacramento Appraisal Blog

The housing market has really changed, and it’s not an easy time to work in real estate. I know people in all parts of the profession who are having a hard time and wondering how to make things work. So, I wanted to share some perspective to hopefully bring encouragement.

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Mortgage buy downs on the rise as builders try to entice more buyers

Housing Wire

Homebuilder confidence continued to drop in November, hitting its lowest level since June 2012, with the exception of the onset of the COVID-19 pandemic in the spring of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday.

Buyers 427
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Six Essential Steps to Commercial Real Estate Success

Cleveland Appraisal Blog

Are you interested in getting into the world of commercial real estate? This week I welcome back guest blogger June Duncan, who shares some things to think about if this is an area that you are interested in pursuing. Enjoy! Image by Unsplash.

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Mr. Always Right

The Appraiser Coach

In the appraisal world, people ask you questions all the time. Some of those questions you can prepare for, and others come completely out of left field. In either scenario, Read More.

Business 217
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Giving Thanks — Again!

George Dell

Giving Thanks. Oh Not Again! Gratitude! Each year I just get over the last one. Get over the fright of Halloween. Adjust to the unnecessary moving clocks back and forth one hour. And think about the pending spirit-oriented holidays as well as the iconic BIG deal — A new near!

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Mortgage demand rose on the back of slower inflation growth

Housing Wire

Mortgage demand rose as rates dropped following the October slowdown in inflation growth numbers. However, while purchase mortgage applications increased across all loan types, refinance activity remained depressed.

Mortgage 426

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Building Materials Prices Decline for Second Consecutive Month

Eyes on Housing

The prices of building materials decreased 0.2% in October (not seasonally adjusted) following a 0.5% decline in September according to the latest Producer Price Index (PPI) report. The index has decreased four of five months for the first time since 2015.

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The Intel About Intel’s Columbus, OH Region Move (and Why Your Business Can Flourish Here, Too)

The Robert Weiler Company

What’s so special about living landlocked in this part of the US?

Business 124
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Builders apply the brakes amid canceled contracts

Housing Wire

The best way to fight inflation is to add more supply, and when I look at the housing completion data for the past two years, it just makes me want to puke. In previous expansions, builders’ housing completion data would move in line with housing starts and permits.

Contracts 421
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Proof that Building Codes Work? Punta Gorda

Empire Appraisal Group

Ewan Photography, Getty Images. Source: Proof that Building Codes Work? Punta Gorda | Florida Realtors. Proof that Building Codes Work? Punta Gorda. Hurricane Ian slammed Punta Gorda, but a local contractor says, “Everything with a 2007 (building) code and beyond pretty much was fine.”.

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Builder Confidence Declines for 11 Consecutive Months as Housing Weakness Continues

Eyes on Housing

Elevated interest rates, stubbornly high building material costs and declining affordability conditions that are pushing more buyers to the sidelines continue to drag down builder sentiment.

Buyers 136
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Valuation officer speaks to more signs of potential bias

Valuation Review

#BradfordTechnologies #webinar #BiasandSubjectivityinAppraisalsADiscussionofUnintendedBiasinAppraisalReports

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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months.

Inventory 389
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How to Avoid and Respond to Appraisal Board Complaints

McKissock

Disciplinary complaints against appraisers are becoming more and more common. From accusations of bias or discrimination to failure to disclose significant real property appraisal assistance, it can be really alarming if a licensing board reaches out and notifies you of a complaint.

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Flat Readings for Single-Family Built-for-Rent

Eyes on Housing

Single-family built-for-rent construction leveled off during the third quarter of 2022 as the overall housing market slowed. This occurred after an exceptionally strong second quarter for rental housing production.

Design 135
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Freddie Mac: Appraisers need to fully analyze market conditions

Valuation Review

#FreddieMac #singlefamily #chiefappraiser #analyzingmarketconditions #appraisers

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Lending standards tighten due to high rates, worsening economic outlook

Housing Wire

Lending standards tightened in October, largely due to higher mortgage rates and the worsening outlook for the economy, the Mortgage Bankers Association (MBA) said. The mortgage credit availability index (MCAI) fell by 0.5% to 102.0 last month, marking eight consecutive months of decline.

Lending 359
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How To Get Ahead As A Commercial Real Estate Appraiser

Valcre

commercial real estate appraiser plays one of the most vital roles in a commercial property sale because the appraiser can influence the buyer’s decision. What the appraiser discovers during an appraisal can determine if a buyer will buy a commercial property or not.

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Townhouse Construction Market Share Rising

Eyes on Housing

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the third quarter of 2022 single-family attached starts totaled 38,000, which is 12% higher than the third quarter of 2021.

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Veros says economists find no evidence of racial bias in its AVM

Valuation Review

#VerosRealEstateSolutions #research #racialbias #VeroVALUE #markets

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Meet the likely buyers of independent mortgage banks in 2023

Housing Wire

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion in loans, about half of 2021’s $4.4 trillion in volume, according to industry forecasters.

Buyers 350
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Top DEI Bosses Have a Problem – Diversity

Appraisers Blog

The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions see as the enemy. If the lack of diversity of appraisers is inherently bad, how could the same not be said for the DEI bosses? A full 93 percent of U.S. birdwatchers are white.

Finance 64
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Single-Family Housing Contraction Continues in October

Eyes on Housing

Elevated mortgage rates, high construction costs for concrete and other building materials, and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production. Overall housing starts decreased 4.2%

Contracts 127
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Industry veteran outlines appraisal bias perceptions

Valuation Review

#BradfordTechnologies #webinar #BiasandSubjectivityinAppraisalsADiscussionofUnintendedBiasinAppraisalReports

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Housing industry continues to shed employees in economic downturn

Housing Wire

Don’t be fooled by last week’s mortgage rate collapse. A combination of elevated mortgage rates, sluggish home sales and inflation continue to plague the housing market workforce, with numerous mortgage lenders and real estate startups shedding employees. The U.S.

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Visualizing Market Activity Using Graphs & Trendlines

Appraisers Blog

Spreadsheets and graphs are powerful tools for appraisers. With proper data, and incorporated into reports, they can enhance your professionalism and decision-making ability.

Tools 63
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Single-Family Permits Decline in September 2022

Eyes on Housing

Over the first nine months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 800,424. On a year-over-year (YoY) basis, this is 7.4% below the September 2021 level of 864,184.

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Lisa Gray Qualifies for the 2022 Lamacchia Realty President’s Club

Lamacchia Realty

Lisa Gray has officially qualified for the 2022 Lamacchia Realty President’s Club by surpassing $16,000,000 in sales volume! This is Lisa’s first time achieving this accomplishment, and it is incredibly well deserved! Lisa is a hardworking REALTOR ® licensed in both MA and NH.

Realty 61
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Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

The housing recession was in full swing in October. Existing home sales last month declined 5.9% from September to a seasonally adjusted annual rate of 4.43 million in October, and were down 28.4% year over year. That’s the largest year over year existing home sales decrease since 2007.

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AI: Supervisory appraiser/trainee appraiser course announced

Valuation Review

#AppraisalInstitute #ContinuingEducationProgram #trainingcourses

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Patios Continue to Substitute for Decks on New Homes

Eyes on Housing

As a previous post has shown, the share of new homes with patios increased for the sixth year in a row in 2021, to a post-2004 high of 63.0 percent At the same time, the share with decks was trending in the opposite direction, declining for the fifth year in a row to a post-2004 low.

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Matt Czepiel Qualifies for 2022 Lamacchia Realty President’s Club ELITE

Lamacchia Realty

Matt Czepiel has officially qualified for the 2022 President’s Club ELITE by surpassing $24,000,000 in sales volume! It was just a matter of time before Matt was going to reach this impressive achievement, as he qualified for President’s Club in 2019 , 2020 , 2021 , and 2022.

Realty 61
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The role of borrower data in today’s housing market

Housing Wire

Insightful borrower data and enhanced tech solutions are paramount to success in today’s modern mortgage industry.

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Homeseller profits drop in third quarter

Valuation Review

#profitmargins #singlefamilyhomes #condosales #ATTOM #thirdquarterhomesalesreport