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August 2019

ASC OKs North Dakota Request for Temporary Appraisal Waiver

The Appraisal Subcommittee on July 9 granted a request from North Dakota for a temporary waiver from appraisal licensing requirements after state officials claimed a scarcity of appraisers. The ASC granted the one-year waiver from licensing requirements by a 5-2 vote; an additional year is possible if state officials again seek a waiver based on the scarcity argument.

August 2019

'iBuyer' Service Changes Selling Process, Cuts Some Requirements

A new partnership between real estate brokerage Redfin and homebuying service Opendoor will purchase properties directly from homeowners who list with Redfin, MarketWatch reported July 14. Sellers who accept the iBuyer offer avoid having to make pre-sale repairs and can skip some closing procedures — including, potentially, the appraisal — but risk receiving less than market value.

August 2019

$1 Trillion in Coastal Properties at Risk for Flooding by End of the Century: Report

Nearly 2.5 million coastal properties worth $1.07 trillion are at risk for flooding by the end of the century, according to the report "Underwater: Rising Seas, Chronic Floods, and the Implications for U.S. Coastal Real Estate" released July 17 by the Union of Concerned Scientists, 247tempo.com reported. The country's 48 contiguous states have roughly 13,000 miles of coastline.

August 2019

HUD Indefinitely Suspends Rule Change to FHA Down Payment Assistance Guidelines

The U.S. Department of Housing and Urban Development on July 23 suspended "until further notice" a rule change made in April that affects its down payment assistance guidelines for Federal Housing Administration loans, HousingWire reported. A federal judge in Utah had ordered the suspension pending confirmation of the program's legality.

August 2019

FHA Delays Digital Signature Requirement for EAD System

The Federal Housing Administration is delaying its requirement for XML Digital Signatures on all appraisals uploaded to the Electronic Appraisal Delivery System, the agency announced July 11. The requirement was to have taken effect Aug. 5; no new date has been set, and XML Digital Signature Hard Stops remain eligible for automatic overrides.

August 2019

Report Names Boulder, Colorado, as Best Housing Market for Growth and Stability

Boulder, Colorado, topped the list of housing markets with the most growth and stability over the past 25 years, with home values increasing 286% since 1994, according to a July 24 report from technology company SmartAsset. The Texas cities of Midland and Austin were second and third on the list, respectively.

August 2019

Boomers, Millennials Share Housing Goals, Have Different Resources, Reports Show

Baby boomers and millennials prefer big-city life, but boomers are better able to afford those locations, according to studies released July 5 by apartment listing firm RENTCafé and real estate firm Clever Real Estate, MBA NewsLink reported. The highest number of city boomers are in New York, while millennials typically reside in the South and Midwest.

August 2019

Housing Inventory to Decline, Affect Buyers for Months: Realtor.com

The recent gains in housing inventory are expected to trickle off in the coming months, which likely will lead to the resurgence of bidding wars, quick home sales and stronger price appreciation, Realtor.com reported July 9.

August 2019

Residential Real Estate Prices Up; Homeownership Tenure Reaches New Peak: Data

Single-family home prices rose 10.8% during the second quarter, and those who sold a home had owned it an average eight years — a new peak for ownership tenure, analytics firm ATTOM Data Solutions reported July 18. The data also revealed that all-cash transactions were down 9.7% from the first quarter.

August 2019

Home Price Appreciation in Most Markets to Hold Steady Through 2020, Report Shows

Home price appreciation in the nation's 100 largest markets is expected to hold steady at 3.7% through June 2020 — although 5% of markets are expected to depreciate during the same period, according to a report from analytics firm Veros Real Estate Solutions, MBA NewsLink reported July 18.