Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

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While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Real EstateCoronavirus

NAR survey affirms concern over spring housing market slowdown

Seventy-two percent of respondents found sellers were not reducing prices in the hopes of attracting buyers

The majority of homebuyers and sellers are bypassing the spring housing season as a result of the coronavirus pandemic, according to the latest Economic Pulse Flash Survey published by the National Association of Realtors (NAR).

In a poll conducted April 5-6 that generated responses from 5,855 NAR members, 59% of respondents said buyers were delaying home purchases for the next few months and 57% reported sellers were delaying the listing of their homes over the same period. As a result of the pandemic, 90% of respondents reported a drop in interest among potential buyers while 80% found a lower number of homes now on the market.

However, while 63% of respondents stated buyers expected a drop in home prices as a result of the current environment, 72% of respondents found sellers were not reducing prices in the hopes of attracting buyers.

Lawrence Yun, NAR’s chief economist, predicted a rough spring for housing market but did not foresee long-term problems.

“Home prices will remain stable because of a pandemic-induced reduction in inventory coupled with less immediate concerns over foreclosures,” said Yun.

As for transactions that are currently underway, 34% percent of NAR’s residential members reported no closing delays. As for those encountering delays, the difficulties were mostly associated with financing (31% of respondents), appraisals (25%), home inspections (21%), title searches (17%) and final walk-throughs (17%).

The survey also found NAR members relying on high-tech tools to stay connected with stakeholders, with most of their attention aimed at buyers. Fifty-eight percent of respondents relied on virtual tours of available properties while 84% used e-signature tools to get the buyers’ John Hancock. Live video was popular with half of the respondents in their outreach to future clients.

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3d rendering of a row of luxury townhouses along a street

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