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“I don’t want to say we’re archaic”: Appraisal Institute president vows reform
20-01-2022
The residential real estate appraisal industry is staring at a fork in the road. The latest reminder is a report released Wednesday from the Appraisal Subcommittee, a part of the federal government in charge of monitoring appraiser standards. The report gives the familiar litany of news stories about instances of alleged...
Read moreDid existing home sales peak in 2021?
20-01-2022
The National Association of Realtors reported that existing home sales for December came in as a miss of estimates at 6.18 million. This number is in line with my sales range for 2021 of 5.84 million to 6.2 million, but a tad higher than my existing home sales range for...
Read moreBuyers viewed just eight homes before making their purchase
20-01-2022
In 2021, homebuyers who successfully purchased a home viewed a median of only eight properties before completing their transaction, according to a report by the National Association of Realtors, published on Tuesday. NAR Research has tracked the number of homes viewed since 1987 and eight is the lowest number on record...
Read moreStaying prepared in a changing mortgage market
20-01-2022
Hosted by Mortgage Capital Trading Collateral valuation is a critical component of mortgage lending and the home sales process. During the Interest rates, origination volume and profit margins are constantly shifting based on a variety of factors, and it takes an efficient and intelligent operation to stay on top of it...
Read moreJobless claims jump to 286,000, the highest level since October
20-01-2022
Initial filings totaled 286,000, well above the estimate of 225,000 and a substantial gain from the previous week's 231,000.Read more: https://www.cnbc.com/2022/01/20/jobless-claims-jump-to-286000-highest-level-since-october.html
Read moreDecember home sales drop 4.6%, as supply hits record low
20-01-2022
Home sales were weaker than expected in December as mortgage rates rise.Read more: https://www.cnbc.com/2022/01/20/december-home-sales-drop-4point6percent-as-supply-hits-record-low.html
Read moreMortgage rates have eclipsed 3.5%
20-01-2022
The average 30-year-fixed rate mortgage climbed to 3.56% during the week ending Jan. 20, rising from 3.45% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Most economists believe rates will continue to climb in the weeks and months ahead. “Mortgage...
Read moreAs omicron surges, some major lenders are quiet about safety measures
20-01-2022
During the onset of COVID-19 in 2020, mortgage lenders were eager to discuss the measures that they were putting in place to keep employees safe. Two years later, as the omicron variant surges, some lenders have very little to say. Of the top 10 nonbank lenders that HousingWire reached out to...
Read moreReal estate is the most 'zombified’ sector and rate hikes will be…
20-01-2022
There's a "big risk" of real estate companies filing for insolvency when interest rates rise, said Nils Kuhlwein of consulting firm Kearney.Read more: https://www.cnbc.com/2022/01/20/property-sector-is-most-zombified-rate-hikes-will-be-risky-kearney.html
Read moreHow to minimize tenant turnover using online property management tools
19-01-2022
Tenant turnover happens when the current tenants move out of a rental property and the property is now vacant and it needs to be prepared for new tenants to move in. Turnover is one of the most costly aspects of the property management business, with the average turnover costing more...
Read moreHousing starts beat estimates, but don’t get too excited
19-01-2022
Today, the U.S. Census Bureau reported that housing starts came in as a beat at 1.702 million for December. The more critical number of housing permits came in too strong at 1.873 million. You always want to be skeptical of any housing starts data that comes in too strong or...
Read moreFast-growing brokerage Side enters NYC
19-01-2022
San Francisco-based Side has taken the side entrance into New York. The real estate brokerage has not announced agent hires, but it has tapped a managing broker for the state in John Wollberg. “Wollberg will support and guide Side agent partners as the company expands its unique brokerage-as-a-service model into New...
Read moreFeds seek to enlist real estate agents in anti-corruption push
19-01-2022
The Financial Crimes Enforcement Network, or FinCEN, is floating a proposed anti-money laundering rule that could impose reporting mandates on a broad swath of professionals in the residential real estate market, including real estate agents, brokers, attorneys, title insurance companies and settlement agents. FinCEN’s proposed regulation, outlined in an “advanced notice of...
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