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November 2019

Residential Appraisal Threshold Increase Becomes Official

The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency on Sept. 27 announced the official adoption of a final rule that increases the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000. Transactions exempt from the appraisal requirement must instead obtain an evaluation.

 

November 2019

Banking Committee Leaders Seek Answers on Appraisal Waiver

Rep. Maxine Waters, D-Calif., and Sen. Sherrod Brown, D-Ohio, on Sept. 24 submitted a letter to the Appraisal Subcommittee seeking answers about its July decision to grant a waiver of appraiser certification and licensing to the state of North Dakota. The letter expressed "surprise and concern" about the "unprecedented" waiver.

 
November 2019

Fannie, Freddie Shareholders May Be ‘Wiped Out’ to Protect Taxpayers: FHFA Director

Mark Calabria, director of the Federal Housing Finance Agency, told the House Financial Services Committee Oct. 22 that he's willing to "wipe out" Fannie Mae and Freddie Mac shareholders if necessary to protect taxpayers from another bailout, HousingWire reported. The government-sponsored enterprises have been in conservatorship since 2008.

 
November 2019

FEMA Could Purchase Millions of Homes in Flood-prone Areas, Agency Data Suggests

Only 43,000 properties at high risk of flooding have been sold to the government since 1989, but data released Oct. 9 by the Federal Emergency Management Agency showed that millions more may need to be purchased due to climate change, Bloomberg reported. The data also revealed that FEMA is unprepared for a massive, government-subsidized real estate buyout.

 

November 2019

Q3 Median Home Prices Unaffordable in Most Markets: Data

Median home prices in the third quarter were unaffordable for average wage earners in 74% of U.S. counties, according to the Home Affordability Report released Sept. 24 by analytics firm ATTOM Data Solutions. The most populated counties with unaffordable median-priced homes were Los Angeles County in California, Cook County in Illinois and Maricopa County in Arizona.

 
November 2019

Properties Near Public Transportation See Significant Increase in Sale Prices: Report

Residential properties within a half-mile of public transportation had median sale prices up to 24% higher than properties located further away, according to a joint report released Oct. 14 by the American Public Transportation Association and the National Association of Realtors.

 
November 2019

Northeast Has Nation's Most Expensive Residential Rental Markets, Data Reveals

New York City is the most expensive U.S. city in which to rent an apartment, with units in the 10282 ZIP code averaging $6,211 per month, according to a report of the country's most expensive rental markets from analytics firm Yardi Matrix, HousingWire reported Sept. 27. Regionally, the Northeast has the largest concentration of expensive ZIP codes.

 

November 2019

Rising Wealth, Low Rates Boost Vacation Home Demand: NAR

Greater wealth and low mortgage rates have increased both demand and prices for vacation homes, the National Association of Realtors reported Oct. 10 in its U.S. Vacation Home Counties Report. The median price for homes in counties popular with second-home buyers increased 36% between 2013 and 2018, compared with a 31% increase for all existing and new homes sold.

 
November 2019

Home Price Gains, Low Rates, Expected During the Next 12 Months, CoreLogic Says

CoreLogic Chief Economist Frank Nothaft said the pace of home price gains should quicken during the next 12 months, and he expects home prices to increase 5.8% through August 2020 due to continued low mortgage rates, HousingWire reported Oct. 2. Nothaft said he expects interest rates to stay under 4% through the end of the year.

 
November 2019

Homeowners Have Few Regrets About Buying, Can't See Renting Again: BofA Survey

Paying a mortgage is more desirable than paying rent, with 83% of homeowners surveyed by Bank of America saying they can't imagine going back to renting, the financial institution reported Sept. 25 in its Homebuyer Insights Report. Additionally, 88% of homeowners said that buying a home is the best decision they ever made.

 
Results: 10 Articles found.

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