Sat.Dec 31, 2022 - Fri.Jan 06, 2023

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Real estate trends to watch in 2023

Sacramento Appraisal Blog

What’s the real estate market going to do in 2023? Nobody has a crystal ball, but here are some emerging trends. Scroll quickly or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 1/12/23 McKissock Webinar (register here) 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on Zoom (register here) 1/20/23 […].

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Solid jobs report sends mortgage rates lower

Housing Wire

Can we have a soft landing in the economy? Friday’s job report shows there is a clear pathway to get there. Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. The bond market saw that wage growth was cooling down, leaving the Federal Reserve with few reasons to keep the rate hike story going much longer.

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Wage Growth Slowing

Eyes on Housing

Job growth slowed in recent months, but the overall labor market remains tight. In December, total nonfarm payroll employment increased by 223,000, and the unemployment rate ticked down to 3.5%, back to its lowest point before the pandemic. However, in a positive sign for inflation, wage growth slowed to a 4.6% year-over-year gain, the slowest pace since August 2021.

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Compass seeks to sublease NYC headquarters in belt-tightening play

Inman

The New York-based brokerage is shopping around 89,000 square feet of office space at 90 Fifth Ave. in Manhattan as it looks for ways to stem its losses, which clocked in at $154 million in 3Q22.

Brokerage 148
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Join Us at World of Concrete 2023

GoForrmz

The GoFormz team will be exhibiting at World of Concrete in Las Vegas! We are thrilled to be attending World of Concrete in Las Vegas, Nevada, January 17-19, 2023. Will we see you there? World of Concrete 2023 World of Concrete has been serving the global concrete and masonry construction industry for almost 50 years. Industry professionals from all over the world will come together to demonstrate the latest technology, like GoFormz, and machinery available, access the newest training and techni

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New cash-out fees add to pain for mortgage lenders

Housing Wire

The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. It represented the lowest level of activity in 27 years. “With mortgage rates still well above 6% and the threat of a recession looming, mortgage applications continued to decline over the past two weeks to the lowest level since 1996,” Joel Kan, Mortgage Bankers Association ‘s vice president and deputy chief economist, said in a statement.

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8 ways for agents to be the lighthouse in 2023

Inman

Finding ways to rise above the noise and shine light onto a challenging market is the mission of every agent in today's market. Coach Darryl Davis shares eight strategies to help agents become a beacon of light for their clients against the storm of misinformation and negative mindsets.

Agents 148
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Bias and Discrimination in Reports, Yes or No?

Appraiserblogs

Appraisers, should we include discussion of B&D in our reports? Wait, What?? Bondage and Discipline? No, not that. Bias and Discrimination. Yes, it must be addressed very clearly. Now, before you blow a cork or throw your mouse at the computer screen, let’s examine what’s really been impacting ‘us’ for the past 4 plus years. One of our peers, who’s become somewhat famous for the way articles are written about appraisal and other topics, had a recent article ‘rebroadcasted’ in AppraisersBlogs

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FormFree raises $55,000 for American Red Cross

Housing Wire

Mortgage technology provider FormFree gives back to those in need in Northeast Georgia in a big way. FormFree hosted its third annual Heroes Golf Classic and raised nearly $55,000 for the American Red Cross. The donations will go toward disaster relief and hosting future blood drives. The CEO of FormFree, Brent Chandler, is also on the board of directors for the American Red Cross.

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Construction Job Openings Likely Peaked

Eyes on Housing

The count of open, unfilled jobs for the overall economy declined slightly in November, falling from 10.51 million open positions to 10.46 million. This represents a decrease from a year ago (10.92 million), a sign the labor market is slowing in response to tighter monetary policy. The degree of this slowing will be critical for the ongoing downshift in the.

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Pending home sales fall to lowest level since 2015, new data shows

Inman

Pending home sales dropped 32 percent annually during the four-week period ending Jan. 1, with the biggest drop-offs recorded in markets that took off during the pandemic, according to Redfin.

Marketing 147
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Appraisers the Convenient Scapegoats

Appraiserblogs

The appraisers are the convenient scapegoats every time. Anytime the real estate market takes a hit, 99% of the time it is because of banking and lending practices. The appraisers are the convenient scapegoats every time. During the 1980s it was the commercial side, yet residential appraisers received both barrels of double-odd buck. Then in 2008 again: stated income, 40 year loans, predatory lending (REFINANCING), NO money down (no skin in the game); people used their homes as a slot machine t

Appraisal 123
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Pending home sales fall 38% in November

Housing Wire

Pending home sales fell for the sixth consecutive month in November, recording a 4.0% month-over-month drop that resulted in an index reading of 73.9, according to data released last Wednesday by the National Association of Realtors. “Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates , which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home,” Lawrence Yun, NAR’s chief economist, sa

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FAQ #1 Do ANSI ceiling height requirements apply to below grade square footage?

Riverfront Appraisals

Note: All year, we’ll be writing about a variety of frequently asked questions dealing with appraisals. If you’d rather listen, check out our podcast, The Appraisal Cast, wherever you listen to podcasts. Question: Do ANSI ceiling height requirements apply to below grade square footage? This question came to be from a Realtor who […]. The post FAQ #1 Do ANSI ceiling height requirements apply to below grade square footage?

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Real estate payrolls end on a strong note to close out a volatile year

Inman

Brokers, agents and homebuilders tallied a solid hiring month amid the holiday season even as the downturn in real estate transactions continued, according to the U.S. Bureau of Labor Statistics.

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San Francisco Home Values (Housing Market Trends and Charts)

Realvals

The charts below offer a realistic portrayal of the housing market in San Francisco, California. The data comes directly from the local Multiple Listing Service (BAREIS MLS), providing a more comprehensive understanding of the true trends in the market. These charts are updated on a monthly basis and include a full year of data. * Bookmark this page if you want to keep up with the real estate market trends in San Francisco. *.

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UWM scores partial win in broker ultimatum lawsuit

Housing Wire

Top U.S. lender United Wholesale Mortgage (UWM) notched a partial win in a lawsuit against broker shop America’s MoneyLine (AML) regarding the controversial “ultimatum” it imposed two years ago. UWM CEO Mat Ishbia announced in March 2021 that brokers who did business with Rocket Mortgage or Fairway Independent Mortgage could not also send loans to UWM, which the lender called the “All In” initiative.

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Real Estate Appraiser: What They Do and How to Become One

Appraisal Hub

The number of businesses in Canada’s real estate appraisal industry has expanded by 2.1% annually over the five years between 2017-2022. Many people are choosing to enter into this field because it generally provides high salaries and more flexible schedules. If you are interested in becoming a real estate appraiser in Toronto, here are the basics you need to know.

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23 ways to generate leads in 2023

Inman

Lead generation is the lifeblood of a successful real estate business, writes Jimmy Burgess. What are you going to do in 2023 to take your business to the next level?

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Tiburon Home Values (Housing Market Trends and Charts)

Realvals

The charts provided accurately depict the real estate market in Tiburon, California, using data from the local Multiple Listing Service (BAREIS MLS). These charts are updated monthly and include a full year of information, giving a complete view of current market trends in the area. * Bookmark this page if you want to keep up with the real estate market trends in the town of Tiburon. *.

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loanDepot targeted by lawsuit alleging poor work conditions 

Housing Wire

Mortgage lender loanDepot recently became the target of a lawsuit filed by a group of former California employees who have complaints about the company’s work conditions. . The lawsuit was filed on December 23 in the Superior Court of the State of California for the County of Orange by about 40 former loanDepot employees, including loan officers, processors, underwriters, loss mitigation and foreclosure specialists.

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Wishing you good times, good cheer and a memorable new year.

Empire Appraisal Group

Wishing you good times, good cheer and a memorable new year. All of us at Empire Appraisal Group want to thank you for your business, loyalty, and support this past year. We hope to see you again in the new year! Empire Appraisal Group, Inc. 8492 NW 15th Court. Coral Springs, FL 33071. Direct: (561) 441-9298. Dan@Empireappraisalgroup.com. The post Wishing you good times, good cheer and a memorable new year. appeared first on Empire Appraisal Group.

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Mauricio Umansky: ‘Something exciting happens every time I wake up’

Inman

In advance of his appearance at Inman Connect New York on Jan. 24-26, The Agency's founder and CEO said he's always working but finds ways to unwind.

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Valcre's 2022 Year-in-Review and What's Ahead

Valcre

The future of commercial real estate appraisal has arrived, and we have technology to thank. This past year, Team Valcre remained steadfast on equipping commercial real estate appraisers with a top-shelf solution for achieving a higher volume of business in less time. More than 50,000 appraisals were completed with Valcre in 2022; and it is expected that number will increase substantially as we head into 2023 and appraisers continue to seek out the tools that will give them a competitive advanta

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PrimeLending sues FCM for poaching 10% of its workforce

Housing Wire

Texas-based PrimeLending is suing its direct competitor , First Community Mortgage, Inc. (FCM), for raiding its talent pool. . According to a lawsuit filed on December 20 in a district court in Tennessee, First Community Mortgage, Inc. (FCM) orchestrated a mass departure of PrimeLending’s Mid-America employees — who allegedly left on the same date without notice. .

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New Year, New You: Transforming Your Appraisal Career in 2023

McKissock

At the end of the holiday season, we start hearing the phrase repeatedly used in weight loss industry advertisements, “New Year, New You!” January is the Black Friday of the weight loss industry, with gyms, exercise equipment manufacturers, and of course the diet and diet supplement companies, all promising a “New You!”. All that noise got me thinking.

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Inman’s Top 5 stories for the week of Dec. 30, 2022 – Jan. 5, 2023

Inman

Catch up on all of the latest news and this week's most-read stories. It's Inman's Top 5 for the week of Dec. 30, 2022 through Jan. 5, 2023.

Agents 148
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Simple Ways to Add Property Value

Lamacchia Realty

SIMPLE WAYS TO ADD PROPERTY VALUE. Having a property is more than just an emotional endeavor. Additionally, it’s a financial choice that could pay off as you accumulate equity in your house and witness your property value rise over time. The neighborhood in which your property is located, the housing demand in the area, and the state of the economy all impact how quickly this property value will rise.

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Mortgage industry grieves death of Regina Lowrie, the MBA’s first female chair

Housing Wire

Regina Lowrie, the first female chair of the Mortgage Bankers Association , died suddenly on Jan. 1. She was 68. Lowrie was most recently the president and CEO of Dytrix , a fintech company that enables secure financial transactions that includes closing agent management and real-time wire/ACH transfer validation for institutions. With nearly 40 years of experience in the real estate finance industry, Lowrie is widely known for making history in 2005 as the first female elected chair of the MBA.

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These 10 Markets Could Boom In 2023—According To The NAR

BiggerPockets

2023 will be tougher for the housing market, but not the worst, according to the National Association of Realtors (NAR). The Annual Real Estate Forecast Summit, organized by the NAR, delivered […].

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Independent landlords, rest easy with RentRedi: Tech Review

Inman

RentRedi is a six-year-old software company with hundreds of thousands of units under management totaling close to $10 billion in value.

Landlords 148
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Lamacchia Realty Announces Top Producing REALTORS® for December 2022

Lamacchia Realty

Lamacchia Realty, Inc. has released their “Top Producing REALTORS®,” for December 2022! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! December 2022 Winners of the Top 10 for the Company are: Laurie Howe Bourgeois has been a licensed REALTOR® since 2000 and in the customer service industry for 34 years.

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RMBS market likely to be further weakened by headwinds in 2023

Housing Wire

The U.S. residential mortgage-backed securities (RMBS) market continues to look bleak for 2023. This year, RMBS issuance volumes are expected to contract further from 2022 due to the impact from elevated rates, high inflation and recession possibilities. . Major factors that will shape the RMBS market include a dramatic reduction in origination volume and mortgage lenders exiting the business , according to a report from DBRS Morningstar on the outlook of the industry. .

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How to Invest in Residential Real Estate: The Ultimate Beginner’s Guide

Mashvisor

If you want to invest in residential real estate but aren’t 100% sure what your first step should be, we’re here to help you develop a plan.