Appraisal Buzz

FEBRUARY 28, 2022

“We tend to overestimate the effect of a technology in the short term and underestimate the effect in the long term.” This is the little-known Law of Amara that describes how we perceive the impact of new technology on our lives. Before we discuss the impact of technology on the future of appraisal data, it’s good to get a historical perspective. Forty years ago, appraisers were storing property data on Property Cards.

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Sacramento Appraisal Blog

OCTOBER 10, 2022

The housing market has shifted, and today I have some practical advice for buyers and sellers. This is coming from hundreds of conversations every month as well as stats I'm pulling. Some new memes too. Enjoy if you wish.

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Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. There are similarities and significant differences between the housing recession we’ve seen this year versus 2008, and looking at specific factors in both timeframes gives us an idea of what to expect in 2023.

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Appraisal Buzz

JANUARY 17, 2022

The housing market boomed in 2021 like few could have expected. What is on the horizon in 2022? Home prices are rising to record highs , and many policymakers and industry professionals have begun turning to building to ease shortages. Of course, the construction industry has been facing some pressing challenges, including hitches in global and national supply chains.

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Housing Wire

NOVEMBER 16, 2022

Homebuilder confidence continued to drop in November, hitting its lowest level since June 2012, with the exception of the onset of the COVID-19 pandemic in the spring of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday. In November, builder sentiment in the market for newly built single-family homes fell five points from October , ending at 33 points — less than half the level it was six months ago.

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Eyes on Housing

JUNE 13, 2022

NAHB analysis of Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics shows that during the first year after closing on a home sale, home buyers tend to spend considerably more money on furnishings, appliances and remodeling compared to non-moving owners. Buyers of new homes spend most, spending four times as much as non-moving owners and twice as.

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Urban

MARCH 11, 2022

New data show that landlords are increasing rental prices and instituting stricter screening criteria for renters, indicating a bleak rental market outlook for years to come.

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McKissock

JULY 10, 2022

How do you determine the investment value of a property? Well, it’s an art. It’s not like valuing a house in which you are going to live. That would be the homeowner value. When estimating a property’s investment value, there are a variety of real estate valuation methods you can use. In this article, we’ll walk through several techniques and discuss the advantages and disadvantages of each.

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BiggerPockets

MAY 16, 2022

The year was 1999. An exclusive group of multi-billionaires gathered in Sun Valley, Idaho, just like they do every year. As usual, no reporters were allowed within miles of their […].

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Mashvisor

NOVEMBER 16, 2022

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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National Association of Realtors

OCTOBER 12, 2022

More than a quarter of real estate professionals say they avoid having any interaction with an appraiser, falsely believing they legally can’t.

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Sacramento Appraisal Blog

MAY 11, 2022

The housing market has shifted over the past month. That’s what the stats are showing, and it’s what we’re hearing from the trenches. Today I want to highlight what’s been happening in Sacramento, and unpack what I mean by “shift” too since this word can be sensationalized. If you’re not local, what are you seeing […].

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Houston Properties

JULY 29, 2022

We analyzed 512,056 Houston home sales. Save money, headache, & time by following these Houston homebuying tips.

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Housing Wire

DECEMBER 1, 2022

Over the past few years, we’ve seen an increased demand for smart home technology as consumers continue to embrace a digital lifestyle. “Smart home technology, whether it be keyless entry locks, smart thermostats or leak sensors, these are all things that, five or six years ago, were still pretty new to the marketplace,” said Andre Sanchez, COO of Rently, a smart home and self-guided touring solutions provider.

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Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? Now, with five weeks of data in front of us, we can say they have stabilized the market. Purchase application data came out on Wednesday and the week-to-week data was down 3%, breaking the streak of four straight weeks of growth.

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Housing Wire

SEPTEMBER 8, 2022

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?

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Housing Wire

JUNE 30, 2022

Less than a week after laying off hundreds of workers and refusing new mortgage applications, First Guaranty Mortgage Corp. (FGMC) and its affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection late Wednesday. . “While we have made considerable efforts to address our ongoing financial challenges related to the state of the mortgage market, we ultimately must do what is best for our borrowers and consumers,” Aaron Samples, chief executive officer of FGMC, said in a

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Housing Wire

JUNE 8, 2022

We are at the point of the economic cycle where I really just get two questions: Are we going into recession and are home prices about to fall? I am going to do my best to try to make sense of what is happening with the housing market right now, since the years 2020-2024 have been a talking point of mine for years and my biggest concern since the fall of 2020 has been prices overheating — not having a deflationary collapse. .

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Housing Wire

NOVEMBER 10, 2022

Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the peak of inflation and close to the end of the Fed rate hike cycle? Let’s take a look at today’s data.

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Housing Wire

AUGUST 5, 2022

What a crazy day for my economic model! On the same day, the Bureau of Labor Statistics (BLS) revealed that we’ve recovered all the jobs lost to COVID-19 and I am raising my sixth recession red flag. When I wrote the America is back recovery model on April 7, 2020, and then retired it on Dec. 9, 2020, I knew one data line would lag the most: jobs!

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Housing Wire

JUNE 21, 2022

The housing nightmare continues. The National Association of Realtors (NAR) reported that existing home sales for April came in at 5.41 million , down 3.4% from the previous month and 8.6% from last year. But, the savagely unhealthy data line was that home prices are up 14.8%. Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, has

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Housing Wire

MARCH 18, 2022

The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 million. This level is still within my 2022 forecast sales range between 5.74 million and 6.16 million. Last year I discussed sales levels coming back down to 5.84 million and I am looking for more of the same in 2022, at the 5.74 million level.

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Housing Wire

NOVEMBER 9, 2022

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. According to Black Knight’s mortgage monitor report, the country’s housing equity position remains strong compared to its position at the beginning of the pandemic, with equity positions $5 trillion, or 46%, above pre-pandemic levels.

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Housing Wire

OCTOBER 3, 2022

Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. Median home prices in August fell 0.98% in August, only slightly better than July’s 1.05% monthly decline. The average home price is down 2% ($8,800) from its June peak nationally as we enter the historically slower fall-winter homebuying season.

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Housing Wire

JULY 28, 2022

The U.S. House of Representatives passed a bill late Wednesday creating federal minimum standards, which would allow notaries nationwide to perform remote online notarizations. The legislation passed the House with a vote of 336-90. A key to advancing the universal adoption of fully electronic mortgages is the creation of remote online notarization (RON) standards across all 50 states.

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Housing Wire

MAY 9, 2022

Home prices in the U.S. have been skyrocketing since 2020, however, I often like to remind people that no matter how crazy home-price growth is in America, at least we aren’t Canada. When it comes to home prices — and especially home prices compared to income — our neighbors up north are like Godzilla to our gecko. Over the weekend, I tweeted several charts, showing people the big divergence between home price growth and real disposable income in the two countries.

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Housing Wire

AUGUST 10, 2022

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. What does this mean? Some have said this is evidence of a soft landing for housing since we are in August and it doesn’t look like we are going to even get to the peak inventory levels we saw in 2019 this year, or even breach the lower levels of 2019 on the national data.

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Sacramento Appraisal Blog

MAY 16, 2022

Dear Sellers, How are things? I hope all is well. It’s been such a crazy market, but things are starting to change. So, let’s chat. This is coming from a good place, and it’s based on observations and what I’m hearing from real estate professionals. WEBINAR ON THURSDAY: On May 19th at 10am I’ll be […].

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Housing Wire

APRIL 20, 2022

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S. from 2012 to 2021. This represents less than 1% of the estimated potentially eligible population of 70,000 veterans, the watchdog agency said.

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Housing Wire

AUGUST 8, 2022

In a recent survey by the National Association of Realtors , floor plans ranked as the third most desired listing feature for homebuyers, after photos and detailed listing information. But floor plans are a relative rarity on multiple listings services: only 10-15% home listings in the U.S. have floor plans. CubiCasa , a real estate software company based in Finland, launched a new product to enable homeowners to generate floor plans at no cost through their app.

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Housing Wire

OCTOBER 31, 2022

The Federal Reserve will hold another meeting this week, where everyone assumes we will get another 75 bps rate hike. The question is: how many more rate hikes are left? And, once they’re done hiking rates, will the Fed need to keep rates high because the consumer balance sheet looks so good? Over the weekend, The Wall Street Journal brought up this point — that the Fed is mindful that household balance sheets are much better now due to the excess savings built up during the COVID recovery and t

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Housing Wire

DECEMBER 21, 2022

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Confused by this? I hear you; let’s dive deeper into today’s report. From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NA

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Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because we hadn’t had a period where mortgage rates moved up so quickly and then held higher for an extended period.

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Housing Wire

JANUARY 11, 2022

Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, according to the most recent CoreLogic Loan Performance Report. The expectation is that rates will continue to decline during 2022. In October, 3.8% of mortgages were delinquent by at least 30 days, including foreclosure, close to the 3.7% rate registered in the same period of 2019.

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