- News from the Appraisal Institute Northern California Chapter Annual Spring Conference
- FNC Index: Year-over-Year Growth at Highest since June 2006
- Latest Home Price Numbers Reveal Increase in Jacksonville Area
- Latest Home Price Numbers Reveal Decrease in Pittsburgh Area
- FNC Index: Home Prices of Normal Sales Up 0.4% in January
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Category Archives: Valuation
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
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
FNC’s latest Residential Price Index™ (RPI), released Wednesday, indicates that U.S. residential property values declined in January, in spite of continued economic expansion and an improving job market in recent months. The latest persistent downtrends are driven primarily by conditions in the distressed market, which remains overwhelmed by the disposal of foreclosed and REO properties. Down 0.6% from December, January marks the sixth consecutive month-to-month price decline. Property values nationwide… Continue reading
I recently spoke at the American Conference Institute’s Seventh National Forum on Preventing, Detecting, and Resolving Mortgage Fraud in Washington, D.C. After the presentation, an attorney who represents mortgage lenders approached me to say that she felt enlightened. She had never considered that appraisal fraud and potential risk can be revealed by analyzing supply and demand around the subject property.
It’s true. In the Origination arena, analyzing supply and… Continue reading
Of the many likely sources contributing to ongoing housing market weakness (e.g., the overhang of distressed and vacant homes; tight credit; poor job prospects; negative income shocks to many would-be first-time homebuyers; disappearing equity on the part of potential trade-up buyers), appraisal valuation –- a key underwriting requirement for screening the risk of mortgage loans in the event of borrower default –- has come under criticism for its alleged role… Continue reading
Last week, ahead of the S&P/Case-Shiller Home Price Index, a number of price indices reported the latest July home price trends. While all indices are pointing to a fairly decent seasonal upswing in the housing market, beneath this consensus lies significantly overlooked differences.
One of these difference concerns what type of sales transactions need to be measured in order to capture a relatively accurate picture of what’s happening to… Continue reading
How do good neighborhoods differ from good companies?
Bill Rayburn and Bob Dorsey explained in this week’s Morning View.
Properties in a good neighborhood need to be similar to increase value. Employees in a good company tend to be very different individuals – “a collection of misfits.” Below are some highlights from this week’s call.
What is a distressed/declining market?
A distressed market is when there… Continue reading
Recently, I read The Crash Course, a fantastic book by Chris Martenson. In the book, Martenson examines the future of our economy, including energy demands and environmental impacts and makes the argument that our current conditions are unsustainable.
Of particular interest to our industry are pages 85–87, where Martenson discusses the housing bubble. His… Continue reading
In June, Kevin traveled to Copenhagen, Denmark (seen at right) for the Værdiansættelse af sikkerheder (“Collateral Valuation”) conference, where he led Europe’s first AVM workshop. He was invited to participate in the event because of his experience in creating… Continue reading
Kathy reports that the forum’s attendees (all very committed to pursuing and prosecuting mortgage fraud) included prosecutors, the New York State Banking Department’s criminal investigators, and representatives from government agencies and several divisions of law enforcement.
In her speech, Kathy discussed… Continue reading