Benefits of New Construction

Benefits of New Home Construction • Residential construction has a positive, direct impact on the U.S. economy. • For each new single-family home that is built, NAHB (National Association of Home Builders) estimates that three jobs are created. • Jobs are generated in the industries where lumber, concrete, lighting fixtures, … Continue reading

Renters’ Crisis 2015

09/21/2015 A report from Harvard’s Joint Center on Housing Studies and Enterprise Community Partners, an affordable-housing nonprofit group, provides further documentation of the growing housing crisis. The number of renters forced to allocate 50% or more of their income for rents is at an all time high, and growing rapidly, … Continue reading

Unaffordable Rents

June 4, 2015 The National Low Income Housing Coalition has published a comprehensive report entitled Out of Reach 2015 describing in great detail how low wages and high rents affect people throughout the United States. California, our most populous state and a historical trendsetter, has the 3rd highest rents in … Continue reading

700 Appraisers’ Decisions

You Only have to Make 700 +/- Decisions in the Next Six Hours by Diana Jacobs It’s a curious time in which the appraiser finds themselves practicing. There is greater oversight with demands for shorter turnaround time. There are appraisal management companies (AMCs) that shop the appraiser’s turnaround time and … Continue reading

Looser Underwriting Standards

News reports indicate that major banks in the U.S., including J.P. Morgan Chase and Wells Fargo, have begun lowering their underwriting standards for one-to-four family homes. The reason: continued decline in new mortgages in January, a Mortgage Bankers Association projection that total originations will decline to $1.116 trillion from approximately … Continue reading

The Appraisal Menace

Background The origin of the concept of land as an asset is lost in the mists of time. Ancient Greece adhered to it, and the 8th century Franks featured fiefs and personal vassalage which bound the vassal to their king. In 1066 the Normans took the system with them when … Continue reading

Real Estate

The Secondary Market American institutional lenders commonly fund two types of real estate loans: conventional, and government-insured and/or guaranteed, primarily by the Federal Housing Administration (HUD), the Veterans Administration (VA) and the Farmers Home Administration (FmHa). While lenders may choose to keep loans in their portfolios, the vast majority do … Continue reading

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