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. This post is sort of […]. The post The housing market will figure it out first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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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. On a positive note, however, the days on the market are no longer a teenager anymore: that metric grew from 18 days to 21 days.

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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. Working as a commercial real estate developer can be a lucrative career path for savvy entrepreneurs. It’s often mistaken for easy money, though, by people who underestimate the work it entails.

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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.

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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! Oh my. […]. The post Giving Thanks — Again! appeared first on George Dell, SRA, MAI, ASA, CRE.

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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. This caused it to reach its lowest level since March 2013, according to the MBA.

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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. The PPI for goods inputs to residential construction, including energy, was led 0.2% higher by prices of diesel fuel (+9.5%).

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Top DEI Bosses Have a Problem – Diversity

Appraiserblogs

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. Just 4 percent are African-American and a paltry 1 percent are Asian-American.

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Mortgage rates collapsed by 47 basis points. Is this a turning point?

Housing Wire

Some lenders have experienced a spike in borrowers’ demand for mortgage loans following last week’s rate collapse due to softer inflation data. However, according to executives and loan officers, it’s too early to say that this marks a turning point in the shrinking mortgage market. To illustrate how fast mortgage rates have declined, the 30-year fixed rate decreased this week to an average of 6.61%, down from last week’s 7.08%, according to the latest purchase mortgage survey

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Employee Engagement the GoFormz Way

GoForrmz

Employee Engagement at GoFormz When our Human Resources department was first formed, it was tasked with two main objectives: Take care of our people Make GoFormz the best place to work. GoFormz employee events and team activities over the past year. Every decision since has been made with these two goals in mind. From company-wide events to quarterly reviews, our HR team prioritizes employee engagement year-round.

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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. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 16,000 single-family built-for-rent (SFBFR) starts during the third quarter of 2022.

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Visualizing Market Activity Using Graphs & Trendlines

Appraiserblogs

Spreadsheets and graphs are powerful tools for appraisers. With proper data, and incorporated into reports, they can enhance your professionalism and decision-making ability. Appraisers, this article will highlight the process I use to bring clarity to my research and analysis of ‘comparable’ properties. This completed process becomes an exhibit in all my appraisal reports because it helps the Intended User(s) visually see what the market has been doing over a known time period.

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The empire strikes back on lower mortgage rates

Housing Wire

After last week’s enormous bond and stock rally , I wondered when the Federal Reserve would make a statement to try to reverse some of that momentum. Well, it didn’t take long: on Sunday Federal Reserve Governor Christopher Waller made comments at an economic conference in Australia that made their position clear. This is the second time this year that the Fed empire has struck back after mortgage rates made a move lower.

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Proof that Building Codes Work? Punta Gorda

Empire Appraisal Group

Dr. 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.”. PUNTA GORDA, Fla. – Punta Gorda was hit hard by Hurricane Ian.

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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. Year-to-date ending in September, single-family permits declined in all four regions. The South posted a modest decline of 5.4%, while the Midwest region reported the steepest.

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[Video] 3 Ways the Packaging Industry is Increasing Efficiency Through Mobile Form Automation

GoForrmz

See how mobile forms can benefit your packing industry business Today's economic climate makes it imperative that businesses, particularly in the global packaging and processing industry, find new ways to increase employee productivity without compromising their bottom line. This is why organizations (big and small) are turning to GoFormz as a solution for converting their cumbersome, ineffective, and costly paper worksheets into dynamic mobile forms that enable real-time data collection and ana

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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. housing market appreciation and the rapid increase in mortgage rates have reduced housing affordability and accelerated the plunge of mortgage origination volumes,” a recent Fitch Ratings report stated.

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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. However, there are steps you can take to protect yourself against becoming the subject of a lawsuit or disciplinary action.

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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. Of the roughly 1.1.

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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. Among other approaches to determining the sale price of a property, the appraiser checks the value of the property compared to similar properties in the area.

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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. “More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement.

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Inflation Jumped 7.7% in October 2022—How Is It Affecting Real Estate?

Mashvisor

Inflation went up slightly month-over-month in October 2022. It means inflation may be slowing down, but how does it affect investors?

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Credit Conditions for Builders and Developers Continue to Worsen

Eyes on Housing

During the third quarter of 2022, credit continued to become less available and generally more costly on loans for Acquisition, Development & Construction (AD&C) according to NAHB’s Survey on AD&C Financing. To analyze credit availability, responses from the NAHB survey are used to construct a net easing index, similar to the net easing index based on the Federal Reserve’s survey.

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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. Lisa’s passion is helping and giving back, and she loves building long-lasting relationships with her clients.

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UWM expands buydown options to combat high mortgage rates

Housing Wire

United Wholesale Mortgage (UWM) this week expanded its temporary rate buydown offerings amid higher interest rates and fierce competition. The Pontiac, Michigan-based lender now has an option for borrowers to reduce their rates by 3% during the first year of the loan, compared to the maximum 2% previously offered. UWM is also launching a lender-paid version as an alternative to the sellers-paid product, the company announced on Wednesday.

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The Benefits of Using a Real Estate Agent with a Realtor® Designation

Eppraisal

Not many people know that all real estate agents can not call themselves Realtors® In order for real estate agents to call themselves Realtors® they must belong to the National Association of Realtors® (NAR), their state Realtor® associations and their local Realtor® associations. What's the difference? Realtors® have access to benefits that other real estate agents do not have.

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Multifamily Developer Confidence Declines Significantly in the Third Quarter

Eyes on Housing

Confidence in the market for new multifamily housing declined significantly in the third quarter of 2022, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) decreased 10 points to 32 compared to the previous quarter while the Multifamily Occupancy.

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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. Additionally, he was named a Top Producer company-wide in both 2021 and 2020.

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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. HousingWire recently spoke with Dan Catinella, chief lending officer at Total Expert, about how Customer Intelligence technology is improving deal flow and pushing the customer experience into the 21st century. . HousingWire: As mortgage lenders continue to look for ways to cut costs amid a high-rate environment, where are some key areas that they should still look to innovate?

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Virtual Tours and Videos for Your Home's Listing

Eppraisal

Professional-quality still photos are one of the most important marketing tools used in listing homes for sale. According to an article published on April 14, 2021, on Statista.com, "In the 2018 survey, 93 percent of home buyers used online websites when searching for a home in the United States." That number is even higher today. Taking it a step further, videos and virtual tours are now trending more than ever in the world of real estate listings.

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Existing Home Sales Falls for Ninth Straight Month in October

Eyes on Housing

As higher mortgage rates continue to weaken housing demand, the volume of existing home sales has declined for nine consecutive months as of October, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. The average 30-year fixed mortgage interest rate increased from 3.11% at the start of the year to 6.61% this.

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Lamacchia Raises Total of $231,000 for Boston Children’s Hospital

Lamacchia Realty

Members of Lamacchia Realty staff and agents were invited to tour Boston Children’s Hospital on Tuesday, November 15th to accept a commemorative check in honor of the $231,000 raised since 2017 for the patients and their families. Lamacchia Realty has been fundraising for BCH under the Lamacchia Cares initiative through annual toy drives , virtual toy drives , and participation in their Corporate Cup events and NStar Walk.

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Black Knight to sell TitlePoint back to Fidelity for $225M

Housing Wire

Black Knight agreed to sell its TitlePoint business unit to former parent company Fidelity National Financial for $225 million in cash. A sale of TitlePoint is expected ahead of Black Knight’s planned blockbuster acquisition by Intercontinental Exchange , Inc. . TitlePoint enables searches for detailed property information, images of documents and maps across the U.S. and is used by title insurance underwriters, title agents and closing attorneys. .

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7 Easy Steps to Reduce Appraisal Revision Requests

Clear Capital

How do you feel when an appraisal revision request pops up in your inbox in the morning? Frustrating, right? You already painstakingly checked your appraisal report the previous night before hitting ‘send’ and now you’re on your screen the next day, making revisions to the same report under a tight deadline! . As an appraiser, your time is valuable, and post-delivery requests are time-consuming.