Housing Wire

AUGUST 10, 2023

annual increase in June , the CPI rose just 3.2% year over year in July, before seasonal adjustment, according to data released Thursday by the Bureau of Labor Statistics (BLS). According to the CPI data, the inflation rate excluding shelter was just 1.0% In Minneapolis , regional inflation is tracking below the Fed’s 2% target.

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Housing Wire

OCTOBER 18, 2022

Amid the uncertain current environment, here are six key indicators we should look to for an accurate assessment of market conditions: Federal funds rate : While the current fed funds rate of 3.25% seems high, it also stood at more than 2% from October 2018 to September 2019. seen in July. For reference, the unemployment rate was 3.4%

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Housing Wire

DECEMBER 22, 2023

“I wouldn’t make a bet on it is because there’s just so much complexity in this.” Part of that trading volume in 2024, Piercy said, is expected to be driven by MSR sales resulting from the continuing merger and acquisition (M&A) activity in the nonbank sector of the market. For 2023, slightly greater than 1.1

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Housing Wire

NOVEMBER 18, 2022

This could potentially put us in a horrible place with inventory, which it did, and prices accelerated beyond my five-year price-growth model in just two years. It was a funky time with housing data last year; people needed to make COVID-19 comp adjustments. from September to a seasonally adjusted annual rate of 4.43

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Housing Wire

FEBRUARY 4, 2024

This is due to demand rising late in one year, pushing through the early part of the next year and preventing inventory growth. PCE inflation data is running below 2% on the three- and six-month data line trends, but the 10-year yield is still over 4% and we are near 7% mortgage rates. But at least it’s positive!

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Appraisal Buzz

SEPTEMBER 20, 2021

This article will pick up where the last one left off, so you will definitely want to read Part 1 of this series before continuing. With that said, let’s move forward with the second question: How do I reconcile comparables with a wide range of adjusted sales prices? Let’s apply this in terms of adjusted sales prices.

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Housing Wire

SEPTEMBER 13, 2022

The parts of the U.S. Adjusting to population, 2014 was the lowest level in the index ever, and in 2022 we have seen a noticeable hit in this index, taking it below 2008 levels. The healthy parts of the U.S. We just need the entire country to get back there for me to remove the label of a savagely unhealthy housing market.

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Housing Wire

JUNE 7, 2023

While the latest was this clearly manipulated LLPA pricing structure and the now failed attempt at a DTI cap , the list of fees added to 2-4 unit homes, second homes, cash-out refinances, and more appear to be focused on political objectives and not actual risk. This to me is just too slippery a slope.

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Housing Wire

MARCH 24, 2023

ChatGPT knows what it answered as part of the earlier question and adjusts the response accordingly. But I wanted more than just the ideas; I wanted it to do more work. For example, you can ask ChatGPT, “Plan my trip from London to Paris and include the top places to visit if I am staying for a day.” I found that a tad boring.

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Housing Wire

MAY 18, 2023

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. The historical norm is between 2-2.5 from March to a seasonally adjusted annual rate of 4.28 Why is this so important to me? After the most significant home sales collapse recorded in U.S. million, up from 1.03

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Housing Wire

AUGUST 5, 2021

Just a week earlier, applications had increased 5.7%, buoyed by descending mortgage rates. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier, the MBA reported. housing market is being driven in part by reaction to the COVID pandemic, as potential buyers move from urban apartments to suburban homes.

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Housing Wire

MARCH 8, 2023

adjusted million loss in 2022, according to documents filed with the Securities and Exchange Commission (SEC) on Wednesday. million in non-GAAP adjusted net income from October to December, compared to a negative $116.8 But in 2022, loanDepot managed to originate just $53.7 The company turned its $555.5 million in 2022.

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Housing Wire

JUNE 21, 2022

Total housing inventory has collapsed to all-time lows since 2020 and because this happened during the years 2020-2024, it created forced bidding and drove prices well above my 23% five-year home-price growth model in just two years. Inventory skyrocketing back toward historical norms of 2 million to 2.5 home-price growth data.

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Cleveland Appraisal Blog

APRIL 21, 2022

Additionally, they claimed that the neighbor located directly behind them is just not a very nice person and is always causing neighborhood trouble. Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. They also complained about there being noisy.

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Housing Wire

MAY 7, 2023

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. Hopefully, this is just a blip, which can occur from time to time with weekly data. This past week we saw a 2% week-to-week decline in the data line.

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Housing Wire

DECEMBER 20, 2022

The COVID-19 pandemic required a light-speed adjustment in this direction, as our offices were locked down with stay at home orders and everyone worked away from office colleagues and technology support. Measuring this cost will help occupants adjust their behaviors to schedule usage during non peak pricing periods.

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Housing Wire

DECEMBER 8, 2021

2 million , we could be at risk of housing inventory falling to such low levels that I would have to categorize this housing market as unhealthy. A lot of housing bears didn’t make COVID-19 adjustments to the purchase application data and truly believed housing was crashing because of the negative year-over-year data trends.

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McKissock

APRIL 28, 2023

As part of our contributor series, Steven W. There is a technique called Weighted Mean that can be used in most assignments to reconcile data, such as reconciling comparables and site values, reconciling indicators for adjustments, determining multipliers and rates, or for final reconciliation. 20 = 44,600 239,000 X.40

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Housing Wire

OCTOBER 7, 2022

to 5.6%, and those with just a high school education and no college went from 4.2% However, most Americans are always working, and as population growth slows and the Baby Boomers age out of the workforce, we need more labor in certain parts of the U.S. Those with less than a high school diploma went from 6.2%

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Housing Wire

MAY 5, 2022

This article is part of our housing market update series. Those people need somewhere to live, and there’s precious little rental inventory available, with apartment vacancies between 2-5%, depending on whose numbers you believe, but in either case being historically low. So there are plenty of prospective homebuyers coming of age.

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Cleveland Appraisal Blog

SEPTEMBER 3, 2021

In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. So, if the data in the MLS is not accurate, it will lead to less supportable opinions and analysis on the part of the appraiser, through no fault of the appraiser. Content is King!

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Housing Wire

MARCH 17, 2022

Most of the mortgages securitized in January and February and into March of this year, according to those observers, were originated last year at rates in the high 2% to low 3% range but are hitting the market this year at a time when rates have been climbing, reachin g past 4% recently. And three more hikes are planned for 2023.).

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Housing Wire

SEPTEMBER 22, 2023

Even if we have a recession, we don’t see it going just a hair under 4 million. They did for a quarter as households sort of adjusted to the idea that they were going to be running at a new higher level. When the Fed is done with the inflation fight and if economic growth is back to the 2% to 2.5% So they go from 7.5%

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Housing Wire

JANUARY 31, 2023

His goal is to bring his sales numbers up to $450 to $500 million, with origination coming from different states, and potentially capitalizing on a little refinance boom in the latter part of 2023. The problem is as rates go lower, the bidding war just gets worse. We can just hit their debt ratio for the new property.

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Appraisal Today

MAY 10, 2024

ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. Several sections of HUD Handbook 4000.1

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Housing Wire

OCTOBER 5, 2023

The news is just as positive in the more traditional home equity sector of HELOCs and CESs. trillion to $2 trillion in tappable equity in the homeowner market segment that doesn’t qualify for traditional home equity loans, such as HELOCs or CESs. There’s an enormous market for this, and we’re just scratching the surface,” he said.

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Appraisal Today

APRIL 26, 2024

The type of sale can provide some clarity into whether the transaction was (or currently is) an arm’s length transaction, whether a comparable sale should be used, or whether an adjustment is warranted for the terms of sale for a comparable. Twitter: [link] posted by noon Friday 2. It’s a good discussion of this topic.

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Cleveland Appraisal Blog

MARCH 3, 2022

In this home, the ceiling height from the top step before the first landing was only 4’8″, which means that to go up the stairs, most adults would need to duck down to get under the ceiling just before the landing. Understanding The Apprisal Part 1: What is “Adjusted sale price of comparables”?

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Housing Wire

MARCH 1, 2023

Part of the Fed’s strategy to beat back inflation includes raising the benchmark interest rate , which is now in the 4.5% Outright sales of 2% and 2.5% If the Fed was to sell MBS, we would expect spreads to widen 20 basis points through June 2023 in OAS [option-adjusted spread] terms,” the report states. “We

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Housing Wire

AUGUST 25, 2022

“But I don’t think it can be meaningful for the big companies just because these other markets are smaller than the traditional mortgage market.” ” Just a little less vanilla. Its executives would prefer that mortgage – a cyclical, often volatile business – be just one spoke in a financial services wheel.

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Appraisal Today

MARCH 8, 2024

But backing up, part of the fun of working in real estate is figuring out how to answer questions like this in a way that is balanced and hopefully reflective of the sentiment in the marketplace. The resort-like pool area boasts grotto, a 2-level commercial size heated swimming pool, slide, water curtain, and a lazy river flow.

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Housing Wire

FEBRUARY 14, 2022

Representing homebuyers in Orange County, California, Alipour generally completed 2-3 escrows a month while many colleagues did 4-5. “It Redfin rang up $225 million in gross profit, profit before operating expenses, in real estate services, compared to just $7 million in iBuying. “I started at Redfin 12 years ago,” she said.

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Appraisal Today

JULY 21, 2023

Keep in mind the presence of a pool could be about lot size also – not just the price range. Adjustments for pools Last but not least, let’s remember there is no such thing as a one-size-fits-all adjustment for a built-in pool because the value of a pool is going to depend on quality, condition, and even age. It was tricky.

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Appraisal Today

JANUARY 5, 2024

Be a part of the profession blamed for the collapse of the savings and loan industry. Walk around holding a clipboard just like “Skip” down at the Jiffy Lube. Twitter: [link] posted by noon Friday – all recent newsletters 2. There are five myths and misconceptions that are addressed in the changes to the 2024 USPAP.

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Appraisal Today

FEBRUARY 23, 2024

The truth is there are portions of 2021 and 2022 where prices are exactly the same as today too, so if I use an older comp, I don’t always need to adjust for the way the market has changed. Market conditions is the easiest adjustment to make. I appraise a lot of 2-4 units and regularly go to other neighborhoods for comps.

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Appraisal Today

MARCH 15, 2024

Let the Sunshine In: 5 Gorgeous Glass Houses That Make Full Use of Daylight Saving Time Just For Fun! I always get jet lag from traveling east, even just one time zone (daylight savings time). Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal? We were making 2% per month time adjustments.

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Lamacchia Realty

JANUARY 23, 2023

Step 2: Check your credit score In addition to a down payment, a first-time home buyer must have a decent credit score. It is also crucial to determine what type of mortgage you are looking to take out, such as assumable mortgages or adjustable-rate mortgages , just to name a few. This is the fun part!

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