Sat.Sep 03, 2022 - Fri.Sep 09, 2022

article thumbnail

Buyers & sellers feeling stuck in the housing market

Sacramento Appraisal Blog

I love the original Back to the Future movie. Do you too? Well, I can’t help but think of today’s housing market compared to the film. Sellers have tended to be stuck in the past expecting the market to be hotter than it actually is right now. And some buyers are stuck in the future, […].

article thumbnail

The risk of zero-down loans while the Fed talks recession

Housing Wire

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Inventory 543
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Charge Your Batteries!

The Appraiser Coach

A couple years ago, I went out and bought a new camping trailer. This trailer, like many other recreational 5th wheels, has a battery that powers it. But this battery. Read More.

article thumbnail

Compliance, Consulting, and Training

Appraisal Buzz

Today’s Buzzcast interview is with Greg Stephens, Owner of GE Stephens Compliance, Consulting, and Training. We sat down with Greg and Joan Trice, Founder of Allterra Group, LLC, to discuss compliance, consulting, and training in the appraisal industry. What are some examples of the new technology helping appraisers today? How does consulting in the appraisal industry work?

Training 195
article thumbnail

Is Critical Thinking Really Necessary?

George Dell

Neither Critical, nor Thinking as words together are found in USPAP. Nor are they found in my copy of The Appraisal of Real Estate! Must be important. What is it? Do we need it? Is it worth the effort? I realized that although I have been promoting critical thinking in my classes […]. The post Is Critical Thinking Really Necessary? appeared first on George Dell, SRA, MAI, ASA, CRE.

article thumbnail

Freedom Mortgage conducts layoffs, sends jobs overseas: sources

Housing Wire

Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. In response to falling origination volume, the New Jersey-based mortgage company has conducted at least four rounds of layoffs this year – in March, May and August, multiple sources told HousingWire.

Mortgage 498

More Trending

article thumbnail

Providing Opportunities for Homeownership

Appraisal Buzz

Jacob Williamson discusses how Fannie Mae’s REO repair strategy focuses on innovative solutions to help support repair and the upkeep of properties nationwide. The post Providing Opportunities for Homeownership appeared first on DSNews. The post Providing Opportunities for Homeownership appeared first on Appraisal Buzz.

Appraisal 195
article thumbnail

Why Hire an Eminent Domain Attorney?

Appraiserblogs

Taking private property for public use is one of the most powerful government actions under the constitution. The exercise of this power is commonly known as condemnation. The power itself is referred to as the eminent domain power. Eminent domain can occur at the federal, state, and local levels of government. If you are notified that your home, land, or property will be condemned for a public use, you will likely have many questions that need answers.

Law 139
article thumbnail

NewRez debuts 40-year non-QM mortgage product

Housing Wire

Top mortgage lender NewRez has added to its line of “Smart Series” non-QM products, launching a 40-year fixed-rate interest-only mortgage loan. With the 40-year IO mortgage, borrowers make interest-only payments for the first 10 years, which NewRez says increases their purchasing power and allows for more affordable monthly payments. (It also slows the amount of equity borrowers have in the property.).

Mortgage 433
article thumbnail

Join Us at IMTS 2022

GoForrmz

The GoFormz team will be exhibiting at the International Manufacturing Technology Show in Chicago! We are thrilled to be attending the International Manufacturing Technology Show in Chicago , September 12-17, 2022. Will we see you there? IMTS 2022 The International Manufacturing Technology Show showcases the creators, builders, sellers, and drivers of manufacturing technology.

article thumbnail

Which States Are Most At-Risk for Wildfire Damages?

Appraisal Buzz

CoreLogic has released its annual Wildfire Report for 2022, examining property-related wildfire risk alongside reconstruction resource availability, temporary housing capacity for displaced individuals, and community economic recovery potential among fire-prone regions. The report tracks wildfire risks in 15 Western U.S. states, in addition to Florida.

Appraisal 195
article thumbnail

Restoration Value Magicians!

Appraiserblogs

And just like that, real estate appraisers from across the country have now added a new line item to their résumés, websites and marketing material: RESTORATION VALUE MAGICIAN. Oh wait, haven’t some AMCs and others already claimed to be such magicians when it comes to this topic? The pandering and save face attitudes of some of these organizations is concerning.

Appraisal 116
article thumbnail

Rocket preemptively raises 2023 conforming loan limits for brokers

Housing Wire

The wholesale arm of Rocket Mortgage on Tuesday raised anticipated agency conforming loan limits to $715,000, a sign that the nation’s largest mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 10% in 2023. The increased loan limits for mortgage brokers apply to new registrations and locks effective Sept. 6, the lender said Tuesday.

article thumbnail

How to Best Search for Land to Buy in Ohio [2022]

The Robert Weiler Company

Land investors choose land to buy in Ohio for many reasons. Unlike other investments of value, buying land is often a safe investment. Land is a limited resource, has permanence, and appreciates in value. In fact, land won’t depreciate, even raw and undeveloped land. Buying land in Ohio offers myriad uses if you follow zoning regulations. Ohio consistently ranks at the top for affordable living and business costs.

article thumbnail

Utah Joins California on List of Unaffordable Metros

Appraisal Buzz

In modern-day America, even a top job’s paychecks do not always open the door to acquiring homeownership. However, regional differences still make it possible for workers in a wide range of professions to buy a home in locations where their job skills are needed, according to a new report form StorageCafe. With major changes in … The post Utah Joins California on List of Unaffordable Metros appeared first on DSNews.

article thumbnail

U.S. Housing Market Collapse? Nowhere in Sight

Empire Appraisal Group

U.S. Housing Market Collapse? Nowhere in Sight. Source: U.S. Housing Market Collapse? Nowhere in Sight | Florida Realtors. The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom. NEW YORK – The rock-hard foundation of the U.S. housing market is suffering some cracks, but an outright collapse is nowhere in sight.

article thumbnail

Who will survive the fintech winter of 2022?

Housing Wire

As a financial technologist specializing in mortgage since long before “fintech” was a thing, I appreciate how tough market cycles force us to focus. For some individuals and companies, this is your first mortgage down cycle. For others, it’s just a new chapter in your journey. But one thing is certain for all of us: without technical expertise, fintech is just a buzzword, and markets like this are when we earn our place serving America’s consumers.

article thumbnail

How to Enhance Commercial Property Value Prior to Appraisal

Valcre

Appraisal of a commercial property refers to the assessment of the property’s fair market value. For property owners, getting a professional appraisal is absolutely necessary before mortgaging or selling their property. Appraisal of commercial properties can be a daunting task as appraisers come in multiple times to check the property and hold several discussions with stakeholders to determine its value.

article thumbnail

Servicers Adapt to Changing Times

Appraisal Buzz

COVID-19 presented mortgage servicers with a new challenge, creating and executing new customer solutions, while managing the impact of the pandemic on their own workforce. The post Servicers Adapt to Changing Times appeared first on DSNews. The post Servicers Adapt to Changing Times appeared first on Appraisal Buzz.

Appraisal 195
article thumbnail

Private Investors Seeking Retail Real Estate

McKissock

In recent years, the real estate industry has noticed some significant trends in the commercial and residential housing markets. For instance, in 2021 small and private investment firms were responsible for nearly 3/4 of retail asset acquisitions , representing a 30% increase from the prior 10-year historical average. . Moreover, earlier this year a bidding war broke out over a 140,000-square-foot shopping center housed at Office Depot in Port Charlotte, Florida.

Retail 73
article thumbnail

Homepoint has shed about 75% of its workforce in a year

Housing Wire

Following the latest round of layoffs, Homepoint has shrunk its workforce from about 4,000 workers in summer of 2021 to about 1,000 in fall of 2022. The wholesale lender last week laid off 913 employees, according to a review of Worker Adjustment and Retraining Notification notices filed in Arizona, Florida, Michigan and Texas. Over the last year it has also sold off large chunks of the business – including servicing to ServiceMac and delegated correspondent to Planet Home Lending – which accoun

Finance 404
article thumbnail

Tropical Depression Imelda's Impact On Houston Real Estate Market

Houston Properties

Here's a look at Houston neighborhoods that flood and did NOT flood during Imelda. Also, here’s a list of things to do to address minor to major property damages due to flooding.

article thumbnail

Riskier Cash-Out Refis Dominate Market, Increasing Risk Level

Appraisal Buzz

The latest Mortgage Default Index (MMDI) published by Milliman, Inc., showed that mortgage risk rate continues to increase in the second quarter of 2022 with heavy cash-out refinance volumes weighing on the market. According to Milliman, the default risk for loans from Fannie Mae and Freddie Mac (the GSEs) acquisitions increased at a rate of … The post Riskier Cash-Out Refis Dominate Market, Increasing Risk Level appeared first on DSNews.

Marketing 195
article thumbnail

3 Out-of-the-Box Ways to Generate Referrals

McKissock

When it comes to making money as a real estate agent, obtaining referrals can be one of the most profitable parts of your job. Mastering the art of nurturing previous client relationships is crucial to obtaining referral business and long-term success in the real estate industry; however, many agents aren’t taking advantage of prime referral-generating time: the weekend.

article thumbnail

Purchase mortgage rates rise closer to 6% mark

Housing Wire

Mortgage rates rose 23 basis points this week, even closer to the 6% mark, as the market reacts to the Fed’s ongoing aggressive policies to combat persistent inflation. According to the latest survey from Freddie Mac, the 30-year fixed-rate mortgage rose to an average of 5.89%, up from last week’s 5.66%. A year ago this time, rates averaged 2.88%.

Mortgage 414
article thumbnail

Hurricane Harvey's Impact On Houston Real Estate

Houston Properties

Hurricane Harvey is projected to cost Texas billions of dollars in damages. Here’s a list of things to do address minor to major property damages, as well as homes affected by flooding.

article thumbnail

HUD Releases FMRs for Fiscal Year 2023

Appraisal Buzz

The U.S. Department of Housing and Urban Development (HUD) has today published Fair Market Rents (FMRs) for Fiscal Year 2023. FMRs, published annually, are an estimate of the amount of money that would cover gross rents (rent and utility expenses) on 40 percent of the rental housing units in an area. Nationally, FMRs will increase … The post HUD Releases FMRs for Fiscal Year 2023 appeared first on DSNews.

article thumbnail

The Real Estate Market is Changing: Is Your Listing Agent Providing Top-Notch Services?

Eppraisal

For the past couple years, homes have been selling fast and home values have been increasing at record-breaking rates. The inventory of listed homes on the market has been historically low. This is starting to change, however and the market is starting to balance out. In many markets home sellers no longer have the leverage they did a few months ago.

article thumbnail

Fintech Milo unveils crypto-mortgage refis

Housing Wire

Miami-based fintech Milo has started to diversify its portfolio for investors with digital holdings by offering its first crypto-mortgage refinancing product, the company announced on Tuesday. The new offering comes five months after the fintech’s 30-year crypto-mortgage purchase product came to market and reached $10 million in origination volume.

Mortgage 424
article thumbnail

REALTORS: HAS YOUR BUSINESS FLATLINED AT $2-3MM/YEAR? READY TO LEVEL UP?

Houston Properties

"Joining the Houston Properties Team was life changing. I was selling about $2MM/year before I joined. In my first year, I sold over $7M. In my second year, I doubled that. If you have the work ethic and desire to grow, we'll get you there.

article thumbnail

Incenter Appraisal Management Offers RemoteValTM Remote/Desktop Appraisals on a Self-Serve Basis

Appraisal Buzz

Appraisers Can Complete Virtual Inspections Independently, Be Their Own Bosses, and Prepare for a Digital Future. CHARLOTTE, N.C. — September 6, 2022 — To give appraisers a new advantage as they compete for jobs, start and build their own businesses, and prepare for a digital future, Incenter Appraisal Management is making its RemoteVal remote/desktop appraisal technology available on a self-serve basis.

Appraisal 195
article thumbnail

The Best Way to Find Multi Family Rental Properties for Sale

Mashvisor

Whether you’re a newbie or an experienced investor looking to invest, chances are that you’ll consider multi family rental properties for sale.

article thumbnail

Mortgage demand continues to fall amid pressure on rates

Housing Wire

Demand for mortgage loans declined last week as the markets continue to exert pressure on rates. With the 30-year fixed-rate hovering above the 6% level again , there’s no sign of a rebound in applications yet, despite a robust job market and growing housing inventory. The market composite index, a measure of mortgage loan application volume, fell 0.8% for the week ending Sep. 2, compared to the previous week, according to the Mortgage Bankers Association (MBA).

Mortgage 404
article thumbnail

Inner Loop Houston Condo Buildings

Houston Properties

Compare all high rise condos in Houston's Inner Loop. View Inner Loop Houston condos for sale or lease. Learn about building history, trends & recommendations.

69