2021

Will the housing market continue its hot streak in 2022?

Housing Wire

As we approach the end of another hot year for the market, homebuyers and sellers are eagerly looking ahead to the 2022 housing market. Will the market continue its streak of strong growth, or are we finally about to see a slow down?

3 Ways Agents Can Help Appraisers to Be More Accurate

Cleveland Appraisal Blog

In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. MLS) We use it to find homes that are comparable to the ones we are valuing, to determine what buyers are paying for similar homes.

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Logan Mohtashami: The 2022 housing forecast

Housing Wire

Most of the time, the economy is like a slow-moving ocean liner that changes direction gradually and without much effort. But when a new, powerful variable presents itself, like the worldwide COVID-19 pandemic, the economy can change on a dime.

The Fannie Mae Requirement Impacting All Appraisers in 2022

Appraisal Buzz

In today’s Buzzcast, we dive into the new ANSI standards announced for appraisers. Today we have Joan Trice, Founder of Allterra Group, LLC., and Bryan Reynolds, Appraiser eLearning Partner. We’ll be getting the inside scoop while they discuss the new updates and their impacts on appraisers.

Single-family rents soar in tight housing market

Housing Wire

You could buy a top-of-the-line laptop and a new cell phone to match, or you could pay one month’s rent for a single-family home in Los Angeles. It’s not much better for prospective single-family renters across California, a study by HouseCanary found.

Zillow Zinged

Cleveland Appraisal Blog

I have written several articles demonstrating the inaccuracy of AVMs like Zillow’s Zestimates.

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Settling on a New Normal for Appraisals in 2022

Appraisal Buzz

The housing market was hotter than ever last year, with pandemic-driven demand boosting home sales to their highest level in 14 years. Total year-end sales volume ended at 5.64 million units , and some experts say it could reach 8 million if there were more inventory. Therein lies the problem.

Investors are buying more, but spending less

Housing Wire

Real estate investors are buying more properties, but paying less for them, according to a report from RealtyTrac released Thursday based on ATTOM Data Solutions home sales data. In the second quarter of 2021, investor purchases accounted for 15.4%

Top markets for affordable renovated housing inventory

Housing Wire

Skyrocketing U.S. home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. The median home price nationwide in August increased 14.9%

The 2021 housing market recap by Logan Mohtashami

Housing Wire

A bullish housing market. What a year 2021 has been. We started the year with many pundits saying that the U.S. economic recovery was a false story and that we were about to embark on a second housing bubble crash due to forbearance. However, not only did the U.S.

Freddie Mac misses low-income refinance goal

Housing Wire

Fannie Mae met all of the housing goals the Federal Housing Finance Agency imposed for 2020, but Freddie Mac failed its low-income refinance goal. The government-sponsored enterprise lagged the wider market in its acquisitions of low-income refinances.

FHFA: Government to back mortgages up to $970,800 in 2022

Housing Wire

The Federal Housing Finance Agency (FHFA) today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%.

Waiting for a big drop in home prices? It could be a while

Housing Wire

With mortgage rates falling during the COVID-19 crisis, many households were able to refinance to lower payments.

Pending home sales shock 2021 housing crash bears

Housing Wire

Today, pending home sales came in as a big beat of estimates — up 7.5% in October — and since we are days away from December, we can officially label the 2021 housing crash bears as even worse than the 2020 housing crash bears.

Will Omicron variant stop first Fed rate hike?

Housing Wire

Life comes at you fast. During this Thanksgiving week, we went from higher yields and the first Fed rate hike storyline to a big drop in bond yields and scary headlines on a new COVID variant, Omicron. How do we make sense of all this?

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Housing affordability improves for second straight month

Housing Wire

For the second month in a row, national housing affordability improved in August, according to the latest National Association of Realtors housing affordability index report. This improvement came as monthly mortgage payments fell by 1.1% while median family income fell by 0.7%.

Study: 24% of sellers received four or more offers in 2021

Housing Wire

Nearly one quarter of U.S. home sellers received four or more offers on their home in 2021, according to Zillow’s latest consumer housing trends report. The rise in the number of homes that received multiple offers is reflected in the increased frequency of bidding wars in 2021.

How Tech is Working on the Solution to the Appraiser Shortage 

Appraisal Buzz

The shortage of appraisers within the industry has been well publicized recently and no doubt plenty of you reading this article have experienced the impact of this shortage first hand.

FHFA proposes capital planning rule for GSEs

Housing Wire

The Federal Housing Finance Agency (FHFA) on Thursday issued a proposed rule that would require Fannie Mae and Freddie Mac to develop, maintain, and submit annual capital plans to the regulator.

Homeowners gain $2.9 trillion in equity in Q2 2021

Housing Wire

Homeowners with mortgages gained $2.9 trillion in equity in the second quarter of 2021, a 29.3% year-over-year increase, according to a new report by CoreLogic released Wednesday. This marks an average gain of $51,500(!) per borrower since the second quarter of 2020.

Millennials struggle to compete with boomers for homes

Housing Wire

Young people make up a smaller share of recent homebuyers than in previous years most likely due to the increased market activity of baby boomers, a new Zillow report published on Thursday found.

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Ex-MBA prez Ronald McCord to pay $52M mortgage fraud penalty

Housing Wire

A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud.

Homebuyers flock to Florida real estate

Housing Wire

The Sunshine State seems to be getting a lot more foot traffic these days, with the number of homebuyers moving to Miami tripling year-over-year, a new analysis found.

Construction worker shortage has reached “crisis” levels

Housing Wire

For career switchers looking for a new path that doesn’t necessarily require a college degree, they could do worse than the building trades.

End of forbearance programs won’t result in housing crash

Housing Wire

One year ago this month, I coined the term forbearance crash bros , an updated name for the housing bubble boys who never got their housing crash in 2020 so they moved the collapse of housing to 2021.

The biggest risk to the housing market right now

Housing Wire

Now that we are heading toward the end of 2021, what can we say about the U.S. housing market this year? No question it has been another year of ups and downs with seemingly conflicting data, which could indicate a coming boom or a bust depending on how you decide to parse it.

Inside Zillow’s misadventures in iBuying

Housing Wire

Zillow CEO Rich Barton. Antonio Pellegrini was stunned. In May the real estate agent listed a two-bedroom home in Fountain Hills, Arizona, 30 miles north of Phoenix, for $342,000.

Here’s where the oldest and youngest homeowners live

Housing Wire

Have you ever considered the median age of homeowners in your area? According to a study conducted by LendingTree, homeowners gravitate towards specific parts of the country depending on their age.

Random Thoughts of an Appraiser – Part 6

Appraisal Buzz

Matt Simmons has been busy with his sixth edition of “Random Thoughts of an Appraiser!” There are plenty of times where appraisers have collectively had thoughts or concepts that can be communicated and/or questioned in a sentence and don’t need a dedicated article.

Housing inventory has never been lower

Housing Wire

It’s official – housing inventory in America is at a crisis level. The number of active listings hit an all-time low during the week ending November 28, according to a Redfin report published on Wednesday.

Goldman Sachs: Home prices will rise another 16% in ’22

Housing Wire

Home prices are currently up 20% year-over-year, but according to a new Goldman Sachs market forecast, they may not have reached their peak yet. Not even close. Goldman Sachs economists predict that home prices will grow another 16% by the end of 2022.

Red-hot US housing market begins to cool

Housing Wire

Though the demand for homes remained strong across the United States in August, there are clear signs that the housing market is past its peak. A report from residential brokerage Redfin found that pending sales across 400 metro areas were up 6% year over year in the four weeks that ended Sept.

FHFA to make desktop appraisals permanent

Housing Wire

Desktop appraisals, a temporary flexibility implemented in March 2020 to keep the mortgage industry afloat amid lockdowns and social distancing, will become permanent, the Federal Housing Finance Agency said today.

Is the Fed creating a housing bubble by keeping rates low?

Housing Wire

Remember that pretty girl from your history class in college — the one who would blow hot and cold, so you never really knew what she was thinking? The U.S. housing market can be like that girl: you can get many mixed messages (especially about a housing bubble) unless you are paying attention.