Housing Wire
MAY 26, 2022
It’s an excellent time to discuss housing inventory. The housing market shifted in March of this year. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. Since the summer of 2020, this has been my main talking point on what can cool down housing ; it’s a 10-year yield above 1.94% , meaning rates above 4%.
Sacramento Appraisal Blog
MAY 23, 2022
The housing market has been changing these past couple of months. As I’ve been saying, it isn’t cold, but the temperature is surely different. Anyway, let’s talk about two things to watch in months ahead – price deceleration and days on market. Any thoughts? This post feels a bit nerdy or heady, but this stuff […].
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Appraisal Buzz
MAY 25, 2022
HOUSTON, TX (May 25, 2022) – Before opening its doors in January of 2020, Accurity Consolidated laid out very specific goals to create a large wave of revival in the appraisal industry. Educating new appraisers to freshen the industry with speed and innovation was near the top of the company’s to-do list, and Accurity is proud to announce talented appraisers in training have been reaching certification at a rapid pace – ready to do their part in the movement unfolding in the realm of real estate
The Appraiser Coach
MAY 24, 2022
I’ve been asked how much should be filled out on site during a mobile appraisal. I know there’s a lot of ways out there to do this; there are almost. Read More.
Housing Wire
MAY 24, 2022
A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. However, they have several more pressing priorities when it comes to what they’re investing in. Out of 200 senior mortgage executives surveyed, who represent 188 lending institutions, 94% think that appraisal modernization efforts will simplify the origination process.
Cleveland Appraisal Blog
MAY 26, 2022
Does your home need to be jacked up? Perhaps a better way of asking is, does your house need a lift? Occasionally, when performing appraisal inspections/observations, I see homes that suffer from serious settlement issues. Sometimes, it’s the foundation. Other times it may be the driveway or a patio that has settled. In this post, I thought I would share some of the ways I have seen settlement problems be repaired.
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George Dell
MAY 25, 2022
Bias and prejudice are always relevant topics. Recently these have received more attention. In asking the questions we present in the Analogue Blog, we find that three concepts/actions produce the greatest response, to create divisiveness and deepening anger in an argument. The three concepts of ignorant argument: 1) use the word “bias,” badly; 2) state […].
Housing Wire
MAY 26, 2022
Purchase mortgage rates this week averaged 5.10% continuing a decline from last week amid a housing market slowdown, according to the latest Freddie Mac PMMS. A year ago at this time, 30-year fixed rate purchase rates were at 2.95%. The government-sponsored enterprise index accounts solely for purchase mortgages reported by lenders during the past three days.
Eyes on Housing
MAY 25, 2022
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. According to first quarter 2022 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area inched down to 2,310 square feet. Average (mean) square footage for new.
Appraisal Buzz
MAY 23, 2022
If you have ever read or heard about the book titled “Who Moved My Cheese,” you may know the story about the four characters in the book and what the cheese refers to. The cheese is a metaphor for what you want in life or business. The characters all love cheese but are caught in a maze. When the cheese disappears, the four characters are faced with adapting to change.
DW Slater Company
MAY 23, 2022
Sunset in Sivells Bend, TX. As we have been reporting the last year, the North Texas markets have experienced extraordinary appreciation in housing with very little signs of slowing. The median sale prices have had double digit increases within the past year. This is on top of the increases that we have been experiencing within the past 5 years- Denton County alone has experienced a 77.45% increase in 5 years as the median sales price in May of 2017 was $270,500 and now it is $480,000.
Housing Wire
MAY 25, 2022
The real estate industry is in the stages of a seismic shift to fully digital experiences. A new generation of digitally native homebuyers and sellers are expecting online experiences , in every type of transaction, and more convenient and seamless ways to find, tour, purchase, and sell homes on their own terms. As a result, there are a growing number of tech-driven companies racing to meet the growing demand.
Eyes on Housing
MAY 27, 2022
As National Home Remodeling Month draws to close, Eye on Housing reports on the most common projects undertaken by NAHB Remodelers during the previous calendar year—in this case, 2021. The results come from a special question included in the first quarter 2022 survey for the NAHB/Westlake Royal Remodeling Market Index (RMI). At the top of the list, 81 percent of.
Appraisal Buzz
MAY 26, 2022
A “green” or “high performance” home refers to a residence that has less of a net impact on the environment than its traditional alternative. If you’re interested in becoming a green home appraiser , you may be wondering, “What makes these types of assignments unique?” There are many things that make green home appraisals different from typical residential appraisals.
Raleigh Realty
MAY 21, 2022
Best Neighborhoods in Raleigh, NC What are the best places to live in Raleigh? We have you covered with some of the best Raleigh neighborhoods below Moving to Raleigh is a popular decision these days as the city has exploded with growth and we are here to help provide information on the best neighborhoods in Raleigh The state's capital city was recently ranked as the 1 place to live in the country so it's no wonder Raleigh shows up 1 on the list of best places to live in North Carolina The Best
Housing Wire
MAY 25, 2022
The Federal Housing Finance Agency (FHFA), which oversees the bulk of the mortgage market, now has a U.S. Senate-confirmed director: Sandra Thompson. The Senate today confirmed Thompson’s nomination to head the FHFA by a 49 to 46 vote. Thompson, a longtime regulator, has been leading the agency on a temporary basis for nearly a year. Before Biden appointed her acting director of FHFA in June 2021, Thompson led the housing mission and goals division.
Eyes on Housing
MAY 26, 2022
According to NAHB analysis of quarterly Census data, the count of multifamily, for-sale housing starts increased during the first quarter of 2022. At 11,000 units started, this was the best quarter for condo construction since the third quarter of 2008. As a result, the market share of rental units of multifamily construction starts decreased to 91% during the first quarter.
Appraisal Buzz
MAY 26, 2022
Pending home sales slipped in April, as contract activity decreased for the sixth consecutive month, the National Association of Realtors reports. Only the Midwest region saw signings increase month-over-month, while the other three major regions reported declines. Each of the four regions registered a drop in year-over-year contract activity. The Pending Home Sales Index (PHSI) slid 3.9% to 99.3 in April.
Appraiserblogs
MAY 26, 2022
Now the effort is AGAIN to have ‘us’ artificially raise property values. But the push this times seems to be “only for certain people. A new press release from Class Valuation, one of the largest US based AMCs, scampered across my office threshold on 5/17/22. You can read it here in this link: Class Valuation Appoints EVP Of Valuation Modernization – NMP But if you don’t want to muddle your brain cells very much, here are the highlights: A new CV Executive Vice President has been hired to “focus
Housing Wire
MAY 24, 2022
When writing about the ’80s banks and passbooks, I started to see a pattern emerge concerning customers and refinance loans and rates. They were so high; then so low. I started thinking about farming. Farmers know that you can’t keep putting the same plants in the same dirt season after season. You kill your soil. You ruin the balance of nutrients.
Eyes on Housing
MAY 24, 2022
New single-family home sales posted a significant decline in April as housing demand deteriorated in the face of rising interest rates. After starting at 3.1% in December, the average 30-year fixed rate mortgage increased to 5.1% by the end of April, per Freddie Mac. Additionally, builders continue to grapple with supply-chain issues, limiting inventory in a market for which new.
Appraisal Buzz
MAY 26, 2022
The Consumer Finance Protection Bureau (CFPB) announced the creation of a new office, thus forth called “the Office of Competition and Innovation,” to “spur innovation in financial services by promoting competition and stumbling blocks for new market entrants.” The creation of the new office coincides with the closure of the Office of Innovation, which focused … The post CFPB Opens New Office to Spur Competition and Innovation appeared first on DSNews.
Appraiserblogs
MAY 23, 2022
Having a federal agency in charge of appraisers will be a NIGHTMARE. Leave it to the states as it is now. ALL appraisers should be SWAMPING their state representatives with calls & emails in OPPOSITION to newly introduced H.R. Bill entitled: Fair Appraisal and Inequity Reform Act of 2022. DO IT NOW. **Remind them all that the job of a Professional Real Estate Appraiser is to PROTECT THE PUBLIC TRUST.
Housing Wire
MAY 25, 2022
The Department of Veterans Affairs last week announced it is streamlining the loan approval process for borrowers with a VA-appointed fiduciary and for veteran borrowers who apply for a joint loan. Effective immediately, lenders no longer must send such loan applications to the VA for guaranty approval prior to closing, which should speed up the loan closing process.
Eyes on Housing
MAY 24, 2022
The missing middle construction sector includes development of medium-density housing, including townhouses, duplexes and other small multifamily properties. While townhouse construction has trended higher in recent quarters, the multifamily segment of the missing middle (apartments in 2 to 4 unit properties) has disappointed. For 2021, there were only 12,000 starts of such residences.
Appraisal Buzz
MAY 26, 2022
Introduction of new Final Rule will introduce public disclosure requirements to the Enterprise Regulatory Capital Framework, and foster risk management practices. The post New FHFA Rule Brings Greater Transparency to GSEs appeared first on DSNews. The post New FHFA Rule Brings Greater Transparency to GSEs appeared first on Appraisal Buzz.
GoForrmz
MAY 25, 2022
Digital form data goes beyond completing a form You’re ready to start running some tests in your business - great! Everyone should be running tests to improve workflows, productivity, conversion rates, and even safety protocols. But how do you know what to test first? The options are limitless, after all. This is where data extracted from digital forms comes in.
Housing Wire
MAY 27, 2022
All lenders must explain their rationale when denying credit to loan applicants, the Consumer Financial Protection Bureau affirmed Thursday, after looking into whether companies claiming exemption because they rely on “complex algorithms” were in violation of federal anti-discrimination law. The requirement also applies to mortgage lenders, legal experts say.
Eyes on Housing
MAY 23, 2022
Nonfarm payroll employment increased in 41 states and the District of Columbia in April compared to the previous month while eight states lost jobs. North Dakota remained unchanged. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 428,000 in April, following a gain of 428,000 jobs in March. On a month-over-month basis, employment data was.
Appraisal Buzz
MAY 24, 2022
Top earners in the appraisal profession are those who consistently bring in new clients. Are you looking to earn more referrals and repeat business? Start by fostering good relationships with your appraisal customers. Taking the time and effort to build strong appraiser-client relationships is a great way to establish a good reputation and distinguish yourself from the competition so that you can easily generate new business via client referrals and word-of-mouth.
GoForrmz
MAY 24, 2022
Configure your digital and online forms to meet your unique business needs – follow along with this guide to create intuitive digital forms, streamline onboarding, and automate common processes Transitioning from paper-based documentation to a digital solution can feel daunting. Businesses often delay their search for a digital solution due to financial investment concerns, time and energy demands, onboarding and training requirements, and fear of disrupting their current workflows and processes
Housing Wire
MAY 25, 2022
One of the largest loan-servicing companies in the nation, Lakeview Loan Servicing LLC , is facing at least a dozen civil lawsuits, all seeking class-action status, in the wake of a major cyberattack that compromised the personal data of the mortgage borrowers the company serves. That data breach, revealed by Lakeview in mid-March, targeted the personal information of some 2.5 million borrowers, including their Social Security numbers.
Eyes on Housing
MAY 24, 2022
Residential construction loan volume reached a post-Great Recession high during the first quarter of 2022, as home building activity entered a new year with higher interest rates. As the single-family building market slows in 2022, the volume of such loans will likely peak in the coming quarters. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased.
Appraisal Buzz
MAY 27, 2022
Federal anti-discrimination laws in banking are supposed to protect consumers from credit companies from denying an application for credit or taking other adverse actions without just cause or a clear explanation on why the action was taken. Companies have long used advanced computational methods as part of their credit decision making process, but as technology evolves, … The post CFPB Warns Mortgage Industry About Legal Responsibilities in Disclosure appeared first on DSNews.
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