ano - Appraiser News Online

Apr 14, 2021

Biden Seeks More Affordable Housing with $5B in Incentives

President Biden is seeking to increase affordable housing in the U.S. by providing $5 billion in financial incentives to local governments to allow apartment buildings in neighborhoods that are restricted to single-family homes, Reuters reported April 8. The incentives to change zoning laws are part of the president’s overall $2 trillion infrastructure proposal.

Apr 14, 2021

CFPB Looks to Ban Foreclosure Starts Until 2022

The Consumer Financial Protection Bureau on April 5 released a notice of proposed rulemaking that would prohibit servicers from initiating foreclosure proceedings until after Dec. 31, 2021. Current rules state that borrowers have to be delinquent for 120 days before the foreclosure process can start. Comments on the proposal are due May 11.

Apr 14, 2021

Homebuyer, Seller Sentiment Up, Mortgage Outlook Down, Fannie Mae Index Shows

The Fannie Mae Home Purchase Sentiment Index released April 7 showed a month-over-month increase in the number of consumers who think it’s a good time to buy or sell a home, and the majority think home prices will increase this year. The mortgage rate outlook was the sole declining index, with just 6% of consumers believing that rates will drop during the year.

Apr 14, 2021

Western States Expected to Lead US Home Price Increases By Q1 2022, Report Reveals

Home price appreciation is expected to increase significantly during the next 12 months, largely driven by properties in Western states, according to the Q1 2021 VeroFORECAST released April 7 by data firm Veros Real Estate Solutions. Buyer demand and limited home price depreciation are driving forces behind the anticipated increase.

Apr 14, 2021

Coeur d’Alene, Idaho, Tops List of Cities Where Home Prices are Growing Fastest: Data

The median list price for homes in Coeur d’Alene, Idaho, increased 82% year-over-year, which puts it atop the list of cities with the fastest growing home prices, Realtor.com reported April 6. Santa Maria, California, was second on the list with a 48% increase, and East Stroudsburg, Pennsylvania, was third with a 43% increase.

Apr 14, 2021

Bloomington, Illinois, Named Best Market for First-time Homebuyers: Realtor.com

Bloomington, Illinois, is the nation’s best market for first-time homebuyers, according to a study of metros with a large population of younger people (aged 25 to 34), an inventory of affordable homes and abundant job opportunities, Realtor.com reported April 8. Iowa City, Iowa, and Kalamazoo, Michigan, rounded out the top three.

Apr 14, 2021

‘Small’ Victories for LIA’s Insured Appraisers SPONSORED CONTENT

Everyone likes a good story, especially when it has a happy ending. No insured wants to be sued, and the stress of a lawsuit can be difficult. Every “small” victory is a big relief for the appraiser involved in the case.

Apr 14, 2021

Shopping Habits, Not COVID-19 May Close 150,000 Stores: UBS

As many as 150,000 stores could close within five years, even after the coronavirus pandemic subsides, because e-commerce has permanently changed the way people shop, according to a report from financial firm UBS, Bloomberg reported April 5. The stores expected to be hardest hit are those selling office supplies, sporting goods, clothing and consumer electronics.

Apr 14, 2021

Mortgage Rates Drop Slightly After Nearly 2 Months of Increases, Freddie Mac Reports

Mortgage rates fell during the past week after increasing for seven consecutive weeks, Freddie Mac reported April 8 in its Primary Mortgage Market Survey. The adjustment, which followed a modest decline in Treasury yields, is good news for would-be homebuyers and those looking to refinance.

Apr 14, 2021

3 Candidates Seeking to Become 2022 Appraisal Institute Vice President

The Appraisal Institute’s National Nominating Committee is scheduled to interview three candidates for 2022 AI vice president during its May 5 virtual meeting. The committee is expected to submit its nomination(s) for the 2022 vice president at the virtual Board of Directors’ May 6 meeting.