Housing Wire
MAY 23, 2023
In a country with more than 330 million people, there are only 70,000 new homes available for sale today in the U.S. housing market. And with total active house listings in America near all-time lows, that is all we have for completed units for sale. The number of new homes doesn’t ever get into the millions, but we are still working our way back to the pre-COVID levels of 80,000 to 100,000.
Eyes on Housing
MAY 22, 2023
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as interest rates reached historic lows. However, as interest rates increased in 2022, and housing affordability worsened, the demand for home size has trended lower. According to first quarter 2023 data.
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Inman
MAY 8, 2023
It can be hard to know which type of photographer will show up at your property. Here are some best practices to ensure your listing (and your client) are set up for success.
DataMaster
MAY 17, 2023
Add comparable sales to the list of things Millennials have killed. We joke, of course, but the truth is Millennial – And yes, Gen Z – homebuyers have a way of thinking and behaving that is far different from what industry veterans are used to. It could be argued that this behavior is market-driven. To illustrate this point, Here’s the story of one Millennial homebuyer’s process.
Boston Appraisal
MAY 17, 2023
The process of determining a property’s market value is called a real estate appraisal. The person who appraises the property, the appraiser, physically inspects the property to measure it, take pictures of it, and make note of the condition and the quality of the construction. The appraiser also needs to be aware of the zoning regulations, city ordinances, and other restrictions that can affect the value of the property.
GoForrmz
MAY 8, 2023
Digital forms for your small business In today’s tech space, small businesses are going digital, and it’s clear why. This mass digital transformation kicked off in 2020. Covid lockdowns had forced businesses and customers across the globe to go online. More small businesses than ever were going digital to survive. Mike Katz, executive Vice President of T-Mobile for Business wrote , “Before Covid-19, one small business in three had never made a digital sale.
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Eyes on Housing
MAY 4, 2023
An earlier post revealed that 71% of buyers who were actively engaged in the process of finding a home in the first quarter of 2023 have spent 3+ months searching for a home without success. The inability to find an affordable home remains the most common reason buyers looking for 3+ months can’t make a purchase, cited by 40% (compared.
Inman
MAY 10, 2023
Agents should be prepared to answer their buyer's mortgage questions, including types of mortgages, lender guidelines, preapproval vs. prequalification and the closing process in the area.
Appraiserblogs
MAY 5, 2023
The recent case of Paschal Uchendu, a convicted felon awaiting sentencing for orchestrating a $1.2 million armed robbery of a courier van, which he was entrusted to secure, is cause for alarm when it comes to the use of unlicensed property data collectors. The largest appraisal management company had hired Mr. Uchendu as one such property data collector despite his criminal background and pending legal issues – clearly demonstrating their lackadaisical attitude towards vetting employees who are
McKissock
MAY 20, 2023
What’s it like getting started in the appraisal business? We sat down with young appraiser, Lindsay Onuffer, to find out. Lindsay is a 22-year-old appraiser trainee in Pennsylvania. Below, she shares why and how she began her appraisal career, what her job is like, and advice for others who are interested in the appraisal business. Q: What made you want to get into appraisal?
GoForrmz
MAY 2, 2023
Prioritize safety without the burden of additional paperwork It’s officially Construction Safety Week, and it’s no secret that OSHA’s updated fine multiplier might be giving construction teams everywhere some additional motivation to keep safety top of mind. While the safety mandates and guidelines haven’t changed, the increased violation penalties put more pressure on businesses to prioritize safety.
Housing Wire
MAY 10, 2023
Did you hear that sound? That’s the entire mortgage industry shouting, “hip, hip hooray!” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. The FHFA, which regulates Fannie Mae and Freddie Mac , had previously delayed implementation of the DTI LLPA from May 1, 2023 to August 1, 2023 following a chorus of upset fro
Eyes on Housing
MAY 16, 2023
Limited existing inventory, which has put a renewed emphasis on new construction, resulted in a solid gain for builder confidence in May even as the industry continues to face several challenges, including building material supply chain disruptions and tightening credit conditions for construction loans. Builder confidence in the market for newly built single-family homes in May rose five points to.
Inman
MAY 16, 2023
Office-to-residential conversions are on the upswing as remote work destabilizes commercial real estate nationwide. "Everything is on the table," affordable housing advocate Janan New told Inman.
Premier Home Appraisal Blog
MAY 17, 2023
Price like a Real Estate Appraiser! Are you a real estate professional or mortgage lender looking to learn more about the home appraisal process? We can help! Let our experienced certified Virginia appraisal experts be the premier source of home appraisal knowledge for your market. Matt and his team have been invited to host an information-packed interactive training session that brings the nuts and bolts of residential property appraisal right to your fingertips.
Kairos Appraisal Services
MAY 1, 2023
If you have plans for home buying, selling, or refinancing, it will likely require an appraisal. While the mortgage lender will order the appraisal to ensure that they are not issuing a loan for more than what the property is worth, it’s still best for buyers and sellers to understand the home appraisal process and… The post Understanding the Different Types of Home Appraisals appeared first on Kairos.
BiggerPockets
MAY 17, 2023
The looming debt ceiling is worrisome, as the economic implications that follow a possible default are unprecedented and could be catastrophic for all sectors, including real estate. Here's what you need to know.
Housing Wire
MAY 10, 2023
The massive inflation and double-digit mortgage rates of the 1970s and early 1980s seem to haunt the Federal Reserve , which wants to cool the economy and even provoke a job-loss recession to avoid that scenario. But the latest Consumer Price Index inflation report shows how the fear of 1970s-style inflation is wildly overblown. Today’s numbers don’t look like the 1970s at all, when rent, wages, and oil shocks sent inflation running hotter than anything we have seen in recent modern-day hi
Eyes on Housing
MAY 18, 2023
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the first quarter of 2023, single-family attached starts totaled 29,000, which is 19% lower than the first quarter of 2022. Nonetheless, over the last four quarters, townhouse construction starts totaled a strong 141,000 homes, which is only 3% lower than the prior.
Inman
MAY 18, 2023
Sisu, a proptech that combines sales cycle and workflow automation with performance tracking technology, said Client Portal 2.0 aims to refine how agent teams interact with critical vendors.
National Association of Realtors
MAY 8, 2023
Proper documentation can help appraisers evaluate high-performance home features. From the 2023 REALTORS® Legislative Meetings in Washington, D.C.
BiggerPockets
MAY 19, 2023
If you're exploring diversification options, it's crucial to note that this investment might not be as sensible as initially thought. Here's the truth about this trendy investment.
Housing Wire
MAY 21, 2023
It was a wild ride for the housing market last week! The 10-year yield rose noticeably, sending mortgage rates near 7% right in the heart of the spring selling season. New listings data fell, however, active inventory grew. And purchase apps had a weekly negative print, continuing the 2023 theme of higher rates impacting the data. Here’s a quick rundown of the last week: Total active listings grew by 3,809 weekly, but new listings are still trending at all-time lows.
Eyes on Housing
MAY 23, 2023
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the first quarter of 2023. For the first quarter, 127,000 multifamily residences started construction. Of this total, 123,000 were built-for-rental use. The market share of rental units of multifamily construction starts stood at an elevated 96% for the first quarter as the.
Inman
MAY 24, 2023
In an interview with Intel, real estate tech strategist Mike DelPrete laid out how artificial intelligence might change the industry, including real estate search portals, and why we're not there yet.
San Jose Real Estate
MAY 20, 2023
The Shasta Hanchett Park neighborhood in central San Jose is much beloved for its architectural charm and close-in location. There’s a wide variety of architectural styles to be found there – and not many ranch style houses. A large percentage of the houses have front porches, some with deep overhangs.
BiggerPockets
MAY 5, 2023
Landlord-tenant laws can be complicated and have a lot of grey areas. This article lists out 10 critical laws you must know before renting out property.
Housing Wire
MAY 23, 2023
Fannie Mae and Freddie Mac executives recognize that the wave of loan-repurchase requests represents an added challenge for lenders who already have a stretched balance sheet. However, Fannie Mae’s position is that the loan-repurchase increases are an economic problem, not an underwriting process issue. Meanwhile, Freddie Mac said it’s in talks with lenders to address the problem through a more customer-focused approach.
Eyes on Housing
MAY 24, 2023
The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the first quarter of 2023, there were just 4,000 2- to 4-unit housing unit construction starts.
Inman
MAY 22, 2023
Does this sound familiar? You have a beautiful listing that would be a fantastic investment for a buyer — yet it has dated paint colors, worn furniture, and too many accessories that will ultimately detract from the results you know you could achieve for your seller.
Lamacchia Realty
MAY 5, 2023
Lamacchia Realty, Inc. has released its “Top Producing REALTORS®,” for April 2023! 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! April 2023 Winners of the Top 10 for the Company are: Kyle Denlinger joined Lamacchia Realty part-time in 2021, and officially switched to real estate full-time in the beginning of 2022.
Clear Capital
MAY 15, 2023
Story by Lisa Marie Conklin If you need a mortgage to buy a home you have your eye on, it’s standard for your lender to order an appraisal of the property. But when your lender says it’s ordering a hybrid appraisal instead of a traditional appraisal , what does that mean exactly ? Here’s what you need to know about this newer appraisal method and how it works to determine the value of the home you want to buy.
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