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Vast Majority Think 2019 First Quarter is Good Time to Buy Home, says Realtor® Survey

New findings from a National Association of Realtors® survey show that more Americans believe that now is a good time to purchase a home. Consumer opinions about home buying bounced back in the first quarter of 2019, with 37 percent stating that they strongly believe now is a good time to buy, up from 34 percent in the last quarter of 2018 but down from 38 percent one year ago. Only 35 percent of respondents said that now is not a good time to buy a home, compared to 37 percent in 2018's fourth quarter.

NAR's first quarter Housing Opportunities and Market Experience (HOME) survey 1also found that a majority of those polled, 53 percent, said that the economy is improving – down slightly from 59 percent at the end of last year. In 2019, optimism is the greatest among those who earn $100,000 or more and those who reside in rural areas. Fifty percent of Generation X said the economy is improving, while 42 percent of urban area residents reported the same.

Click here to read more.

AI Distributes 45-Day Notice on Proposed Amendments to Bylaws and Regulations

The Appraisal Institute on March 25 sent to 45-Day Notice proposed amendments to Bylaws and Regulation Nos. 8, 9 and 10.
 
The proposal concerns removing “Past President Designated Member” as a member status while maintaining “Past President” as a title and as an individual who doesn’t pay membership dues, and eliminating the Temporarily Non-Practicing Designated Member status and Temporarily Non-Practicing Candidate status.
 
AI’s Board of Directors will consider the proposed amendments at its May 9-10 meeting in Chicago.
 
Comments should be sent to [email protected].

JLL to Acquire HFF, Become Largest US Commercial Real Estate Debt Practice: Report

By Matt Grossman

A merger between two of the country’s most active debt-advisory shops is set to create the largest commercial real estate debt practice in the country.

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CRE Sector Expected to Stay Strong: Cushman & Wakefield

By Michael Tucker

Three themes anchor the U.S. commercial real estate investment outlook: U.S. economic performance, cycle maturity and the monetary policy outlook, said Cushman & Wakefield, New York.

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Cap Rates to Remain Steady Through June, Experts Predict

By Kerry Curry

With late 2018 jitters gone and investor optimism returning, the commercial real estate market should experience mostly steady cap rates through the first half of 2019, although there are particular market segments and geographies that could experience some bumps.

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Financial Firms Bypass Fannie Mae and Freddie Mac, Increase Private-label MBS: Report

By Jessica Guerin

Private investors are buying non-conforming mortgage loans – which are usually the domain of Fannie Mae and Freddie Mac – at a growing rate.

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Average Home Size Continues to Shrink as Inventory Adds Entry-level Homes: NAHB

By Robert Dietz

Continuing a multiyear trend, new single-family home size decreased during the final quarter of 2018.

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Sentiment Wanes for Office Market Affected by Co-working and Telecommuting: Study

By David Bodamer

Although it has not been the star of this extended commercial real estate cycle, the office sector has delivered its fair share of strong performance and solid returns. Occupancy rates and rents rose, cap rates fell and development has been kept in check.

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Multifamily Market Expected to Stay Strong, Research Reveals

By Tim Wang and Julia Laumont

A major and unprecedented structural shift has occurred in the real estate market due to a variety of demographic and socioeconomic factors. Occupied U.S. rental apartment units rose by 20 percent above the prior 10-year period. Real estate investment managers’ allocations to institutional-quality multifamily product have risen on the ongoing strength in property fundamentals.

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Enhanced Appraisal Review Drops Refinance Risk, Data Shows

By Laurie Goodman and Jun Zhu

Historically, purchase mortgages have performed better than refinance mortgages, or “refis,” defaulting less often. But changes made in response to widespread appraisal bias during the crisis have improved the industry’s risk assessment and management abilities overall and, accordingly, have decreased the expected default rate on all mortgages.

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29 Members Received Designations from the Appraisal Institute in February

The Appraisal Institute designated 29 members in February, including; and 12 who received MAI designations; 7 who received SRA designations; 9 who received AI-GRS designations; 1 who received AI-RRS designations.

View the list here.

Mortgage Rates Remain Steady, Suggest Strong Spring Home Sales: Freddie Mac

Freddie Mac(OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates held steady after declining for three consecutive weeks.

Sam Khater, Freddie Mac’s chief economist, says, “Mortgage rates remained mostly unchanged this week, while mortgage applications rose 5.3 percent from the previous week. The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring homebuying season.”

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NCAI Scholarship Application Available – Deadline April 1

The NCAI Scholarship Application for the second quarter offering is now available. Deadline is April 1, 2019.

Click Here for the Application Requirements and Eligibility.

APPLY NOW

Parking Education Seminar & LDAC Fundraiser on April 2

NCAI is pleased to offer Parking and Its Impact on Value of North Carolina Properties to it's members while also supporting the 2019 Leadership Development & Advisory Council (LDAC) Participants. This event is on April 2, 2019 at the Harris Campus Central Piedmont Community College in Charlotte, NC. Instructor Ted Anglyn is donating his time to instruct this course as an effort to raise funds for this cause.

ALL PROFITS from this course and any additional donations will go toward support for NCAI’s LDAC participants.

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AI, Freddie Mac to Teach Valuation of Manufactured Homes

On March 6, the Appraisal Institute and Freddie Mac announced a partnership targeted to help real estate appraisers when valuing manufactured housing, meeting an important need for homebuyers, lenders, appraisers and homebuilders.

The Appraisal Institute’s partnership with Freddie Mac will provide practical appraisal training to all appraisers, as well as specifically-targeted training and case studies to address manufactured housing valuation assignments for Freddie Mac’s CHOICEHomeSM. CHOICEHome brings conventional mortgage financing to factory-built homes to help increase the availability of quality affordable homes that borrowers want while providing lenders with the innovative financing options they need.  

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Mortgage Rates at 12-month Low as Inflation Softens, Economy Slows: Freddie Mac

Freddie Mac(OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that fixed-rate mortgages fell to the lowest levels since early 2018.

Sam Khater, Freddie Mac’s chief economist, says, “The combination of cooling inflation and slower global economic growth led mortgage rates to drift down to the lowest levels in a year. While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower mortgage rates and a strong job market should rekindle demand for the spring homebuying season.”

Read more here.

NC Appraisal Board Suspends CoesterVMS

On Monday, February 26, 2019, the North Carolina Appraisal Board voted to summarily suspend the registration of CoesterVMS. Coester has failed to respond to seven complaints filed against it and has failed to maintain a surety bond after its surety bond was cancelled. Effective March 1, 2019, Coester’s registration is suspended and they shall cease all activities which constitute appraisal management services in North Carolina. The suspension shall remain in effect until the Board issues a Final Decision in this matter or until the parties enter into a Consent Order that is a final determination in this matter.

Commercial, Multifamily Originations Expected to Remain Favorable this Year: MBA

By Adam Descanctis

Steady commercial real estate markets, along with equity and debt availability, are expected to keep commercial and multifamily mortgage originations roughly on par with the volumes seen the past two years, according to the Mortgage Bankers Association's 2019 Commercial/Multifamily Real Estate Finance Forecast, released here today at the 2019 Commercial Real Estate Finance/Multifamily Housing Convention & Expo.

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Appeals court sides with Zillow in lawsuit over Zestimate accuracy

By Nat Levy

A federal appeals court sided with Zillow in a long-running lawsuit over the accuracy and marketing of the real estate giant’s controversial Zestimate tool.

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CFPB Releases List of Rural and Underserved Counties

The Consumer Financial Protection Bureau on Feb. 12 released its 2019 list of rural and underserved counties, which those entities can use to determine if they are exempt from certain appraisal and ability-to-pay rules.

Click here to view the list.