Housing Wire
MARCH 18, 2021
Home prices have skyrocketed in the past year, and data from Redfin backs up what buyers, sellers, and agents have known for months. The national average of home prices rose 14.4% year-over-year to $336,200 in February – the largest increase since July 2013, according to the latest report from Redfin. Closed home sales were up 5% from a year earlier and pending sales rose 21%.
Miller Samuel
MARCH 17, 2021
Last Friday I had a fun discussion with Lisa Abramowicz on Bloomberg Surveillance. It's been bedlam in Appraiserville so I've been slow to post it. The New York to Florida housing migration story has been a bit one sided with optics that suggest 9 people will be left in Manhattan by the summer time despite that Manhattan contract activity beginning to surge.
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The Appraiser Coach
MARCH 16, 2021
Many of us throw ourselves into our work because we love it. We love it so much we forget to take regular breaks, but it’s such an important thing to. Read More.
Cleveland Appraisal Blog
MARCH 18, 2021
As a child, many of my best friends had darker skin than mine. Fortunately, I grew up in a family whose view is that all people are equal, and that differences in race, skin color and background, are what make humans so beautiful. Sadly, there are some that do not share that view. . As a teenager, my friends would describe to me experiences they had in retail stores, in which they were watched uncomfortably closely by store clerks.
Housing Wire
MARCH 16, 2021
With lumber prices and other building material costs still at record-high levels, homebuilder confidence fell two points in March, per the latest report from the National Association of Home Builders. That drop in builder confidence is in spite of sky-high buyer demand, which hasn’t waned despite rising home prices and climbing mortgage rates – the latter up 30 basis points from February.
George Dell
MARCH 17, 2021
Legacy appraisal practice “the valuation process” is well established. Therein lies the problem. It is not designed to use modern methods toward objective, unbiased results. First, lets distinguish the different kinds of bias. We need to separate personal bias from analytic bias. Personal bias can be intentional, or unintentional (unconscious). Analytic bias itself can come […].
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Midtown Appraisal Group
MARCH 19, 2021
This infographic (below) from The Appraisal Institute has been around for a couple of years now, but I came across it again recently and I think it’s still worth a look, especially if you’re new to the appraisal process. (NOTE: The infographic refers to federal legislation in the US, and some of those laws may […].
Housing Wire
MARCH 19, 2021
A growing chorus of mortgage industry observers believe the final week of February might have been the last hurrah for sub-3% mortgage rates. And the proof is in the refi pudding. With mortgage rates making their ascension , many late-to-the-game homeowners hopped on the chance to refinance their home loans and pushed refi volume to 68% of all closed loans in February, according to the latest originations report from ICE Mortgage Technology.
Working RE
MARCH 16, 2021
> E&O/GL Insurance for Home Inspectors Competitive Rates, Broad Coverage, Free Risk Management, online inspection support for tough questions, discounts on education and more. Professional Coverage, Competitive Pricing Shop OREP today! >> Editor’s Note: To help you stay up-to-date and connected, OREP/Working RE has established a Coronavirus (COVID-19) Discussion and Resource Page where you […].
DataMaster
MARCH 17, 2021
Real estate transactions should be bias-free. As most appraisers know, the Appraisal Foundation issued an exposure draft of a complete revision of Advisory Opinion 16 on March 1st. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16. Advisory Opinion 16 made its debut in USPAP’s 1997 edition.
Appraiserblogs
MARCH 19, 2021
…how to prevent a low appraisal in the first place… As real estate brokers in New York City, many buyers ask us what options exist if the appraised value comes below the contract’s purchase price. We explain how the appraisal rebuttal process works and how to prevent a low appraisal in the first place. Here are the most frequent questions buyers ask us.
Housing Wire
MARCH 18, 2021
The progression of homebuying over the past year has seen prospective buyers adjusting their preferred destination plans again, and again, and again. One example is Colorado’s housing market, which has seen the effects of an insanely competitive market combined with low inventory push buyers into secondary cities – and sometimes, beyond.
D Fritz Appraisals
MARCH 16, 2021
Be Prepared for an Appraisal for a Positive Impact on Your Home’s Valuation. Whether you’re selling, refinancing, dividing assets, settling an estate, or determining capital gains on an income property , it pays dividends to be prepared for your home appraisal. The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property.
Working RE
MARCH 16, 2021
“One of the best courses that I have had in 17 years!” -Amy H >> OREP E&O ????? “They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Editor’s Note: Take the NEW 2021 Appraiser Fee Survey online now at WorkingRE.com/2021survey. How to Fight Blacklisting by Isaac Peck, Editor Being blacklisted by a real estate […].
Appraiserblogs
MARCH 15, 2021
FTC vs LREAB Update The Supreme Court has denied the Louisiana Real Estate Appraisers Board’s petition to intervene in the administrative case for price fixing by the FTC. The FTC trial is scheduled to proceed on April 20, 2021. VaCAP is closely following this case and will update you as it proceeds. To view all the activity for this case, go to the FTC’s webpage here.
Housing Wire
MARCH 17, 2021
Last week, the U.S. House of Representatives passed what is known as the PRO Act , a bill which aims to empower unions in the 27 “right to work” states and impose the Dynamex ABC test regarding independent contractor status on the country as a whole. Realtors be forewarned. If the PRO Act can attract 10 US Senators (and thus survive an expected filibuster), Realtors who fail to self-incorporate will automatically become employees of their brokerage firm.
McKissock
MARCH 16, 2021
If you ask appraisers to provide examples of complex appraisal assignments , many will focus on commercial or mixed-use properties or two- to four-family properties. However, many single-family home appraisals are considered complex assignments. Below, we provide the definition of a complex property and dig into the three types of residential complex properties.
Empire Appraisal Group
MARCH 18, 2021
Unhappy with the Eviction Ban? A Federal Judge Agrees. Source: Unhappy with the Eviction Ban? A Federal Judge Agrees | Florida Realtors. By Justin Boggs. A federal judge ruled the eviction ban is unconstitutional and has never been done before – but he didn’t issue an injunction stopping it, and DOJ says it will appeal. NEW YORK – On Monday, the Consumer Financial Protection Bureau (CFPB) released data suggesting that 2.1 million Americans are more than three months behind on paying rent.
Appraiserblogs
MARCH 17, 2021
Bill A5185 and AMC Bill A5146 introduced to the state legislature in New Jersey show just how much state legislators don’t understand the appraisal profession. Valuation Legal warned us about this back in December: Appraiser and AMC Laws to Include Prohibitions Against Discrimination. From Bill A5185: 2. a. Prior to the initiation of a residential property appraisal, a holder of a license or certification under P.L.1991, c.68 (C.45:14F-1 et seq.) or registration under P.L.2017, c.72 (C.45:14F-27
Housing Wire
MARCH 15, 2021
I hear a lot of chatter about a boom in cash-out refinances, and the presumption seems to be that this is destined to wreak havoc on the housing market and the economy at some point. Cash-out loans have been growing over the past few years and it is also true that we have a recent history of excessive equity extraction factoring in a bust in housing.
Yolo Solano Appraisal Blog
MARCH 17, 2021
The pandemic has changed all of our lives in the past year. In local real estate, activity paused in March and April as shelter-in-place orders took effect. The Fed dropped interest rates to zero, pushing mortgage rates to historic lows. Homes became more affordable but inventory (the amount of time to sell the current number […].
DataMaster
MARCH 17, 2021
Real estate transactions should be bias-free. As most appraisers know, the Appraisal Foundation issued an exposure draft of a complete revision of Advisory Opinion 16 on March 1st. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16 Advisory Opinion 16 made its debut in USPAP’s 1997 edition.
McKissock
MARCH 19, 2021
FHFA extends relaxed lending and appraisal standards to the end of April. A record-breaking 36% of homes sold above list price in February, due to historic homebuyer competition. Housing is expected to remain resilient despite low inventory, with accelerated U.S. economic growth predicted this spring. The $1.9 trillion American Rescue Plan will funnel billions into the housing market.
Housing Wire
MARCH 18, 2021
For the third consecutive week, mortgage rates pushed past 3% – with the average mortgage rate for a 30-year fixed loan up four basis points last week to 3.09%, according to Freddie Mac ’s Primary Mortgage Market Survey. Rising mortgage rates typically signify a recovering economy, and despite applications for mortgages dropping week-over-week, according to Sam Khater, Freddie Mac’s chief economist.
Assurance Financial
MARCH 18, 2021
Does Refinancing Affect Your Taxes? Homeowners may choose to refinance for many reasons. Refinancing could potentially lower your monthly payments , allow you to consolidate debt, speed up the payoff process for your mortgage, eliminate your private mortgage insurance (PMI) and put more cash in your pocket. If you have equity in your home, you may be able to leverage it through a refinance.
DataMaster
MARCH 17, 2021
Real estate transactions should be bias-free. As most appraisers know, the Appraisal Foundation issued an exposure draft of a complete revision of Advisory Opinion 16 on March 1st. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16. Advisory Opinion 16 made its debut in USPAP’s 1997 edition.
McKissock
MARCH 14, 2021
Having a website and running a blog does not suffice to market your real estate business in 2021. Social media marketing has been growing in significance over the last few years, and the COVID-19 pandemic has further accelerated this trend. As a real estate agent or broker, you have to get on social media if you want to be able to compete in the industry and to continue generating leads.
Housing Wire
MARCH 19, 2021
National homebuilder Lennar Corp. plans to spin off all its non-core businesses to become a pure-play homebuilder and financial services company, the company announced on Wednesday. In an earnings call this week, Lennar executive chairman Stuart Miller said the move would maximize the technology investments made through LENx , the company’s primary investment vehicle.
BiggerPockets
MARCH 18, 2021
There are several misconceptions about rent-controlled properties. For some, they can be a great addition to their investment portfolio. In this article, we look at the good and the bad of owning this type of asset.
Valuation Review
MARCH 17, 2021
While mortgage lenders have been buying and installing technology at a rapid pace since the COVID-19 pandemic began, many aren’t actually using it as much as they could be, according to the latest Insights Report from mortgage advisory firm STRATMOR Group. Read on to learn more.
National Association of Realtors
MARCH 18, 2021
Peter Gallo, Chair of the NAR's Real Property Valuation Forum presents a live form featuring a panel of residential, commercial, and review appraisers.
Housing Wire
MARCH 19, 2021
Determining the value of a home depends on both art and science. With the increasing availability of massive amounts of housing data and the ability to analyze that information. Analysis of millions of pieces of disparate data informs nearly every decision made involving residential real estate. Todd Teta – guest columnist March HW Magazine. Consumers, real estate agents, investors, mortgage lenders, insurance companies and other financial institutions need accurate valuations to inform th
BiggerPockets
MARCH 16, 2021
While traveling throughout southeast Asia, Michael Su asked what he could be doing to protect himself if he ever didn’t have stable income. As a digital nomad, travelling from country […].
Valuation Review
MARCH 17, 2021
The JLL Valuation Advisory group promoted Erik Hill to national practice leader of healthcare, where he will help lead the growth of the firm’s healthcare valuation advisory business throughout the U.S., the company announced. Read on to learn more.
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