This month, I want to take a closer look at three recent polls that address some questions appraisers wanted us to ask. First, we asked: “What best describes your office setup?” This poll was the most popular of the three with 6,121 responses. Not a big surprise here with 73 percent answering, “It’s in my home.” The second most popular answer was “It is in an office/commercial/industrial building” with 20… Continue reading
Our May 6 webinar, “Home Equity Decisioning Solutions and Newly Released Appraisal Management Proposed Regulations,” is now available for viewing. Subject matter expert Shawn Telford and FNC General Counsel Neil Olson provide an overview of current regulatory topics in conjunction with current business trends — changing market conditions, HELOC trending, regulations — and help viewers understand the solutions and guidance available from FNC.
Click here to access audio/video/.pdf… Continue reading
I hear a lot from appraisers concerning their interactions with various appraisal management companies (AMCs). Many keep wondering why appraisers are licensed and strictly regulated while it seems that AMCs for the most part have been left to do whatever they want. That was the case for a while; today the majority of states have already imposed regulations on AMCs. Currently, as part of the Dodd-Frank Act, a group of… Continue reading
In March, I once again traveled to Modesto, Calif., and attended the Annual Spring Conference of the Appraisal Institute’s Northern California Chapter. This month, I will share some useful and interesting information from the presentations. The conference focuses on the California market, but many of the presenters also covered topics related to the national market.
The first session was “State of the Appraisal Profession;” the speaker was Lance Coyle… Continue reading
The latest FNC Residential Price Index™ (RPI) shows U.S. home prices increased again in February as sales of non-distressed homes continue to rise and regain market share. The index, constructed to gauge the price movement among normal home sales exclusive of distressed properties, indicates much of the nation’s underlying home value shows solid growth as dwindling REO sales fall to their lowest levels since 2007.
In February, the index’s… Continue reading
Oxford, Miss. (March 26, 2014) – Home prices in the Jacksonville, FL, metropolitan statistical area increased in January by 0.74% as indicated by the FNC Residential Price IndexTM (RPI), marking the 13th consecutive month of appreciation for this market. Also, the Jacksonville market increased 8.01% from January 2013, marking the 20th consecutive month of year-over-year gains. Despite recent growth, this market is still 15.85% below its January 2009 value. Furthermore… Continue reading
Home prices in the Pittsburgh, PA, metropolitan statistical area decreased by 0.71% for the month of January as indicated by the FNC Residential Price Index (RPI). The decline marks the fourth consecutive month of depreciation for this market. In addition, sales activity for Pittsburgh was mixed. While single-family home sales have increased by 1.24% from January 2013, the percentage of single-family home sales that were distressed reached 10.74%, an… Continue reading
Oxford, Miss. (Mar. 13, 2014) – The latest FNC Residential Price Index™ (RPI) shows U.S. home prices have gotten off to a positive start in 2014, rising a modest 0.4% in January. The index, constructed to gauge the price movement among normal home sales exclusive of distressed properties, indicates home prices of the underlying housing market continue to strengthen as market fundamentals and credit conditions continue to improve. The index… Continue reading
I have been hearing a great deal of noise lately about the increasing cost of compliance in mortgage lending. There has always been a cost associated with compliance, but the seemingly unprecedented quantity of new regulation coupled with a new regulator has created a new reality. The patterns of the past can’t be used to make sense of the future. Projects with Dodd-Frank in the title abound throughout the lending… Continue reading
Home prices in the Birmingham-Hoover, AL, metropolitan statistical area decreased by 0.32% for the month of December as indicated by the FNC Residential Price Index™ (RPI). The slide in prices marks the fourth consecutive month of depreciation for this market. Furthermore, the percentage of home sales that were distressed reached 19.54% — a 1.4% gain over November’s figure of 19.27% and a 39.47% increase over September’s figure of 14.01%… Continue reading