2022 – Page 70

Incenter Appraisal Management and McKissock Learning Form Desktop Valuation Training Partnership

by admin
Comment Off
581 views

Organizations to Offer Webinar on Desktop Property Inspections With RemoteVal™ Starting on February 3 With Fannie Mae and Freddie Mac accepting desktop appraisals beginning in March, Incenter Appraisal Management and McKissock Learning are partnering to help appraisers update their remote inspection skills in response. The two organizations will jointly sponsor several webinars for appraisers seeking to master new remote inspection/desktop appraisal solutions, which will increasingly become requirements for their success. “Non-QM/Non-Agency lenders and credit unions are already seeking out AMCs and appraisal firms who offer remote appraisals. The GSE announcements about March 2022 start dates for desktop appraisals will likely lead to widespread adoption and lender usage. We are excited to enable as many appraisers as possible to take advantage of this emerging demand,” said Mark Walser, President, Incenter Appraisal Management. The organizations will launch their partnership with a Pro-Series webinar, Desktop Property Inspections with RemoteVal™, on Thursday, February 3, 2022, from 5:00 pm – 6:30 pm Eastern Time. Additional webinars will be scheduled on an ongoing basis. “McKissock Learning and Incenter Appraisal Management are equally focused on empowering appraisers to remain the key stakeholders in the appraisal process. RemoteVal™ training will help appraisers spend more time on professional analyses while maintaining overall control of the inspection process,” said Renee Altier, President, Valuation and Property Services, Colibri Group, whose businesses include McKissock Learning. Developed by Incenter Appraisal Management, RemoteVal™ is a new class of appraiser-centric technology for remote appraisal inspections—while keeping appraisal professionals 100% in control. This solution already meets most remote inspection and desktop appraisal guidance and is USPAP compliant, putting appraisers and lenders one step ahead. “We believe desktop appraisals should be driven by the appraiser for maximum veracity, and RemoteVal allows them to do the inspection remotely while verifying the property condition and measurements,” Mark Walser added. Using RemoteVal from their desks, appraisers can virtually inspect a property via a homeowner’s smartphone camera, directing them where to point the lens, and snap geographically verified, time-stamped images, video imagery, and closeups. RemoteVal’s built-in digital measuring tape enables appraisers to determine square footage/gross living area measurements, assess a home’s layout, and create the floor plan that the GSEs require. McKissock instructor Josh Walitt, a compliance and valuation consultant and experienced appraiser, will lead the first webinar. Click here to register. About Incenter Appraisal Management Incenter Appraisal Management’s goal is to harness its knowledge, skills, experience and profound sense of integrity to consistently exceed client expectations. The company is a national provider of best-in-class valuations, inspections and data products for lenders throughout the country, and is headquartered in Charlotte, North Carolina. For more information, please visit incenteram.com. About McKissock Learning McKissock Learning is a top national provider of education for licensed real estate property appraisers, agents, brokers, home inspectors, land surveyors, and professional engineers. The company provides pre-licensing, continuing education, license upgrade, and professional development courses to meet customer needs throughout their careers. McKissock Learning is part of Colibri Group, which provides learning solutions to licensed professionals who strive to be among the best in their fields. For more information, go to www.colibrigroup.com or www.mckissock.com/. Contacts Dawn Ringel267-620-8401 or dawn.ringel@incenterms.com

Word of the Day: Sangfroid

by admin
Comment Off
856 views

[sahng-FRWA] Part of speech: Noun Origin: French, mid-18th century Definition: Composure or coolness, sometimes excessive, as shown in danger or under trying circumstances. Examples of Sangfroid in a sentence “Brad displayed remarkable sangfroid as he sized up the tough decisions ahead.” “Sarah’s mother kept sangfroid as she dealt with the fender-bender accident.” About Sangfroid “Sangfroid” comes from the French “sang-froid,” meaning cold blood.” Did you Know? Sangfroid” is an example of a loanword taken directly from French. Its literal translation is “cold blood” but in English, it’s used as a figurative expression of composure or cool headedness in the face of difficulty.

Knock 2022 Housing Forecast Reveals the Best Markets for Each Stage of Life

by admin
Comment Off
520 views

Austin is the best market for millennials, Miami rises to the top for Gen X and Pittsburgh ranks No. 1 for baby boomers With affordability and limited supply expected to keep the housing market competitive and remote work and the desire for more space influencing decisions on where to live, Knock, the fast-growing homeownership platform that makes all homebuyers Power Buyers, released its ranking of the best housing markets by generation in 2022. Austin, Texas, ranks No. 1 for millennials, while Miami is the best market for Gen X and Pittsburgh tops the list for baby boomers. Two markets – Austin and Knoxville, Tenn. – are the only metros to make two lists. “Although we do expect the housing market to moderate in 2022, homebuyers will continue to face many of the same challenges they did last year. Rising interest rates will offset any relief buyers get from slowing home price growth. The good news is the rise in remote work has given many people the freedom to rethink where they want to live, opening up options for those willing to explore new cities that offer relative affordability, growing economies and access to the amenities important to them,” said Knock Co-Founder and CEO Sean Black. To compile the list of top markets, Knock ranked the nation’s 100 largest metropolitan areas based on affordability, the availability of housing stock and key attributes important at each stage of life. The analysis takes into account Knock’s 2022 housing forecast which expects the national median sale price to grow 8% to $399,484 year-over-year, homes to sell in an average of 20 days down from 22 in 2021 and months of supply to fall 11% to 2.1, well below the average of four to five months in a balanced market. With six of the top 10 millennial markets located in the South and two each in North Carolina and Texas, the top 10 millennial markets in rank order are: Austin, Texas; Des Moines, Iowa; Charleston, S.C.; San Antonio; Atlanta; Providence, R.I.; St. Louis; Winston-Salem, N.C.; Charlotte, N.C. and Spokane, Wash. More geographically diverse than the best markets for its younger and older counterparts, the top 10 markets for Gen X in rank order are: Miami; Austin, Texas; Knoxville, Tenn.; Portland, Ore.; Boise, Idaho; Omaha, Neb.; Raleigh, N.C.; Phoenix; Salt Lake City and Boston. Although it’s not surprising that eight out of the top 10 baby boomer markets are located in warm weather locales, the fact that the top two are cold weather metros might be. In rank order the best markets for baby boomers are: Pittsburgh; Lansing, Mich.; Knoxville, Tenn.; New Orleans; Birmingham, Ala.; Augusta, Ga.; Greenville, S.C.; Palm Bay, Fla; Jacksonville, Fla. and Tucson, Ariz. Best millennial markets offer affordability, strong job markets and vibrant downtownsThe largest contingent of homebuyers, the millennial generation, spans 15 years, with the youngest 25 years old and the oldest having celebrated their 40th birthday in 2021. Migrational trends show that as millennials grapple with affordability amidst soaring home prices, many have spread their wings to smaller metros for a shot at homeownership. When compared to the 100 largest metros, the 2022 top millennial markets are 11% more affordable and offer 19% more homes for sale on average. In these metros, millennials make up 20-25% of the population on average. They also attract an average of 90% more inbound millennials year over year than the largest 100 metros and have 1.17 times the national average concentration of jobs in the tech, finance and health industries. Gen X markets provide career opportunities and family-friendly attributes at a costAged 41 to 56, Gen Xers are statistically at the top of their careers and most likely to have school-aged children. The best markets for Generation X tend to skew pricier, but still offer relative affordability, available inventory, space without sacrificing career opportunities, good schools, an abundance of green space and family-friendly activities. In 2021, the median home in the best Gen X markets was 17% more expensive than the U.S. median-priced home, but offered relative affordability compared to New York, San Francisco and Seattle. Homes in these markets provide 150 more square feet than the national average. These markets offer a strong job market with a diverse employer base, 1.2 times more managerial positions than the national average and a larger than average number of highly ranked school systems. Top baby boomer markets are prime spots for those looking to shift their lifestyle Baby boomers, the generation born between 1946 and 1964, have handed in their resignations in record numbers since the start of the pandemic, providing the freedom to cash in on the equity they’ve amassed in their homes. The markets on this year’s list offer retirees affordability and tax friendly advantages that allow them to stretch their dollar further as well as access to good healthcare, strong diverse economies with part-time employment opportunities, culture and recreational activities. Nine of the 10 metros are college towns, affording the opportunity for boomers to continue their education. On average, residents pay 75% less in sales, property and inheritance taxes than the national average. They also have access to 35% more primary care physicians per 100,000 residents than the nation’s 100 largest metros and thousands of active adult communities. Knock’s 2022 Top Millennial Markets 1. Austin, Texas 2. Des Moines, Iowa 3. Charleston, S.C. 4. San Antonio 5. Atlanta 6. Providence, R.I. 7. St. Louis 8. Winston-Salem, N.C. 9. Charlotte, N.C. 10. Spokane, Wash. Knock’s 2022 Top Gen X Markets 1. Miami 2. Austin, Texas 3. Knoxville, Tenn. 4. Portland, Ore. 5. Boise, Idaho 6. Omaha, Neb. 7. Raleigh, N.C. 8. Phoenix 9. Salt Lake City 10. Boston Knock’s 2022 Top Baby Boomer Markets 1. Pittsburgh 2. Lansing, Mich. 3. Knoxville, Tenn. 4. New Orleans 5. Birmingham, Ala. 6. Augusta, Ga. 7. Greenville, S.C. 8. Palm Bay, Fla. 9. Jacksonville, Fla. 10. Tucson, Ariz. To view the full report, including charts and methodology, please visit: https://blog.knock.com/knocks-2022-top-10-housing-markets-for-every-generation/ About KnockKnock is rewriting the rules of homeownership by making all homebuyers Power Buyers. Knock’s flagship Home Swap™ product empowers consumers with a non-contingent offer to buy the home they want before selling the home they have, providing certainty knowing you’ve found your dream home and the convenience of not having to live through repairs or showings. Knock GO™ (Guaranteed Offer) is a cash-like home loan solution for first-time homebuyers looking to compete in today’s hot housing market. Launched in 2015 by founding team members of Trulia.com, Knock has raised more than $600 million in

Despite Anticipated Rent Slowdown, Multifamily Poised for a Strong 2022, Yardi Matrix Reports

by admin
Comment Off
751 views

Positive outlook for the sector is buoyed by strong economic conditions, according to new outlook The multifamily market appears poised for another solid year in 2022, according to the U.S. Multifamily Outlook for Winter 2022, released by Yardi® Matrix. While the record-setting rent gains recorded in 2021 are not expected to repeat this year, analysts anticipate demand for apartments will remain robust, highlighted by strong economic growth and household formation. Investor activity is also expected to continue apace, as capital conditions look favorable and multifamily traditionally offers stable income and low mortgage rates. Powering the positive outlook is the continued strength of the economy and consumer demand. “The economy is benefiting from lingering monetary stimulus, job growth, higher wages and consumer wealth, while supply-chain issues have continued into 2022. Inflation and the labor shortage are the biggest headwinds, but most of the negative ramifications from those matters won’t be felt until 2023 or later,” states the new report. Asking rents rose 13.5 percent nationally in 2021. Anticipated rent growth for 2022 is less than 5 percent, according to Matrix. Economic growth is also expected to step back from the roughly 6 percent increase it recorded last year. Concerns about oversupply have also so far proven to be unfounded and builders are ramping up for new projects nationwide. As of the beginning of 2022, more than 750,000 market-rate apartment units were under construction, with about half expected for delivery this year. Learn more about what’s expected for multifamily in 2022. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email matrix@yardi.com, call (480) 663-1149 or visit yardimatrix.com to learn more. About Yardi Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

by admin
Comment Off
556 views

REE-ə-fi Part of speech: Verb Origin: Latin, mid-19th century Definition: Make (something abstract) more concrete or real. Examples of Reify in a sentence “The still-life assignment was to reify the sketch as a complete oil painting” “The ad agency was asked to reify the marketing pitch ahead of their next meeting with the clients.”

by admin
Comment Off
328 views

Affordability Constraints Expected to Increasingly Limit Home Sales, Weigh on Prices The housing market and larger economy are expected to enter a “new normal” in 2022 as the unprecedented market disturbances and policy responses stemming from the COVID-19 pandemic subside, according to the January 2022 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group expects inflation to remain elevated in 2022, while still unknown is the extent to which structural shifts in the economy and housing markets over the past two years become permanent. However, the ESR Group foresees economic growth returning to more modest levels consistent with the long-run trend, while home sales and house price growth slow to a more sustainable pace. The latest forecast projects home price appreciation to clock in at a still-brisk 7.6 percent in 2022 – as measured by the FHFA Purchase-Only Index – but down greatly from 2021’s expected 17.3 percent. Compared to the prior forecast, expectations for headline economic growth remain largely unchanged: The ESR Group expects real GDP growth of 5.5 percent in 2021, which would represent the strongest annual growth rate since 1984, and 3.1 percent in 2022, a downgrade of only one-tenth. Inflation and supply chain disruptions remain key risks to the forecast, and the Federal Reserve’s policy response to the former – as well as the financial markets’ response to all of it – will be a critical storyline in 2022. For now, the ESR Group projects inflation, as measured by the Consumer Price Index, to average 7.0 percent on an annual basis in the first quarter before slowing to a still-elevated 4.0 percent by the end of the year. Additionally, the ESR Group expects the Fed to raise interest rates three times in 2022 – the first of which is expected to occur in March. “We expect economic growth to continue slowing as the impacts of fiscal stimulus fade and the country’s attention increasingly turns to rising inflation,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “The Fed has accelerated the pace at which it intends to reduce monetary accommodation, as inflation appears more resilient than initially expected. Currently, we expect inflation to run above the Fed’s two-percent target through 2023, and for the Fed to respond by tightening over that period. The resultant rise in interest rates will likely put additional stress on housing affordability measures vis-à-vis higher mortgage rates for consumers and the continued, though decelerating, rise in home prices. While consumers still have a significantly elevated level of savings, the rate of saving has fallen such that, over time, we believe ‘excess’ saving will likely be eroded and affordability increasingly constrained. We observe an early indication of this in recent increases in debt-to-income measures associated with incoming mortgage originations.” Visit the Economic & Strategic Research site at fanniemae.com to read the full January 2022 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary. To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here. Opinions, analyses, estimates, forecasts, and other views of Fannie Mae’s Economic & Strategic Research (ESR) group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management. About Fannie MaeFannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America. We partner with lenders to create housing opportunities for people across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit:fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog Fannie Mae Newsroomhttps://www.fanniemae.com/news