In today’s episode of FNC Morning View, Bill Rayburn and Bob Dorsey discuss an article in the New York Times by David Blanchflower and Andrew Oswald, “Challenge to Dogma on Owning a Home.” That article can be viewed here.
Rayburn: Today we’re discussing the whole relationship between unemployment and owning a home, which, on its face, runs totally opposed to the whole U.S. mindset of the American Dream… Continue reading
This month, I want to first discuss a couple of AppraisalPort polls dealing with property data. First we asked, “How would you feel about your client sending you detailed information about the subject property and possible comps as part of the assignment?”
We had 5,224 responses and almost as many emails. This one really seemed… Continue reading
On the last Monday in March in Modesto, CA, I attended the Annual Spring Conference of the Appraisal Institute’s Northern California Chapter. This month, I want to share some very useful information from one of the presentations that concerned both the national and California markets.
The presentation was given by Mr. Loren Gonella, who runs Coldwell Banker Gonella Realty in Merced, CA. I was impressed with Gonella’s extensive… Continue reading
[This video was recorded March 25 as part of FNC's Morning View series. Visit fncmorningview.com for call-in info and access to previous episodes.]
Bob Dorsey: There are a lot of restrictions on money transfer from one country to another. Increasingly, starting in the ‘50s, there were reductions in the constraints on that, so there was money transfer going more and more between countries. What’s happened is… Continue reading
As we all know, the housing market has been going through some major changes over the past years. As the market changes, so does the source of many appraisal assignments. This month we ran some polls to see how much work is generated from both refinance activity and foreclosure activity. The first poll asked, “How much of your work comes from refinance activity?” and received a total of 5,404… Continue reading
The second final rule that the CFPB will implement is referred to as “Disclosure and Delivery Requirements for Copies of Appraisals and Other Written Valuations” and amends Regulation B (Equal Credit Opportunity Act). In general, this new rule amends the current Regulation B rules about providing appraisals to applicants/borrowers as required by the Dodd-Frank Act. This revision to Regulation… Continue reading
By now I’m sure you are all familiar with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 — a large sweeping law covering many aspects of consumer lending and finance. Part of this new law mandated the creation of the Consumer Financial Protection Bureau (CFPB). It took some time to get this bureau set up and fully functional, but in January 2012, President Obama appointed Rich Cordray… Continue reading
Though home foreclosures continue to be a challenge in many hard-hit markets, a report released this week by mortgage technology company FNC indicates the ongoing housing recovery should continue for the long haul.
According to FNC’s Foreclosure Market Report, foreclosure prices have bottomed out in recent months and the foreclosure market has stabilized while underlying home values are rising… Continue reading
In past AppraisalPort newsletters, I have referenced information from the Real Estate Research Council of Southern California. The council is a longstanding nonprofit organization consisting of members who share an interest in real estate information (lenders, appraisers, brokers, reporters, public utilities, and others). Since the 1960s, the council has been collecting extensive information that is compiled into a quarterly report about the market in the seven major Southern California… Continue reading
At Valuation Expo in San Antonio, Texas, Nov. 8-10, 2012, I had the opportunity to talk with appraisers from all over the country. I am glad to hear that most are very busy. In addition to the appraisal software and data vendors, many of the representatives in the exhibit hall were from AMCs seeking appraisers for their panels. If you were an appraiser looking for more work, this was a… Continue reading
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