21st March 2019

Average U.S. Home Seller Profits at 12-Year High of $61,000 in 2018

IATTOM Data Solutions, curator of the nation’s premier property database, today released its Year-End 2018 U.S. Home Sales Report, which shows that home sellers in 2018 realized an average home price gain since purchase of $61,000, up from $50,000 last year and up from $39,500 two years ago in 2016 to the highest level since 2006 — a 12-year high.

That $61,000 average home seller profit represented an average 32.6 percent return on investment compared to the original purchase price, up from 27.0 percent last year and up from 21.9 percent in 2016 to the highest average home seller ROI since 2006.

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20th March 2019

Zillow awards $1 million prize for making Zestimates more accurate

The Zestimate that appears on every listing on Zillow is about to get a little closer to the expected sales price of a house, and all the online real estate giant had to do is give away more than $1 million.

Beyond that, Zillow also awarded $100,000 to the second-place team, and $50,000 to the third-place team.

But Zillow is hardly chalking this exercise up as a loss. Just the opposite, in fact.

Zillow said that it will incorporate parts of the winning team’s model, along with other contest entries, to improve the accuracy of the Zestimate that appears on the listings for 110 million homes on Zillow.

According to Zillow, the improvements to the Zestimate will decrease its current nationwide error rate of 4.5% to less than 4%, meaning that half of all Zestimates will be within 4% of the selling price, and half will be off by more than 4%.

Put another way, Zillow claims that on average, the Zestimate is $10,000 off of the actual sale price for a typical home, but with the improvements from the contest, future Zestimates could be approximately $1,300 closer to the sale price.

The Zestimate has long served as a contentious issue between real estate professionals and consumers.

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19th March 2019

Unconventional loans surge in 2018: Housing trouble ahead?

Homebuyers are increasingly opting for nontraditional mortgages – Opens a New Window.which helped precipitate the housing crisis about one decade ago – potentially foreshadowing trouble as high prices continue to weigh on housing affordability.

Throughout the first three quarters of last year, unconventional mortgages – those that don’t require borrowers to show typical income or other asset verifying documentation – rose 24 percent to $34 billion, according to data from Inside Mortgage Finance, as reported by The Wall Street Journal. While unconventional mortgages accounted for just 3 percent of overall originations during that period – traditional mortgage loans declined.

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15th March 2019

Renting a Home More Affordable Than Buying in 59 Percent of U.S. Housing Markets

Home Prices Outpacing Wages in 80 Percent of the U.S. Housing Markets

IRVINE, Calif. – Jan. 10, 2019 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its 2019 Rental Affordability Report, which shows that renting a three-bedroom property is more affordable than buying a median-priced home in 442 of 755 U.S. counties analyzed for the report — 59 percent.

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13th March 2019

Las Vegas Gov Appraiser Job

Vacancy No.19CON-LBX0045-1171-13-EMDepartmentInternal Revenue Service
Salary$88,099.00 to $114,529.00Grade13 to 13
Perm/TempPermanentFT/PTFull-time
Open Date3/11/2019Close Date3/22/2019
Job LinkApply OnlineWho may applyPublic
Locations:
LAS VEGAS, NV

Overview

  • Open & closing datesOpening and closing dates 03/11/2019 to 03/22/2019
  • ServiceCompetitive
  • Pay scale & gradeGS 13
  • Salary$88,099 to $114,529 per year
  • Appointment typePermanent
  • Work scheduleFull-Time

Location

1 vacancy in the following location:

Relocation expenses reimbursed

No

Telework eligible

Yes as determined by agency policy

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19th February 2019

Gov Appraiser Job in BALTIMORE, MD

Vacancy No.NEGE193443951381DDepartmentU.S. Army Corps of Engineers
Salary$81,548.00 to $106,012.00Grade12 to 12
Perm/TempPermanentFT/PTFull-time
Open Date2/15/2019Close Date2/25/2019
Job LinkApply OnlineWho may applyPublic
Locations:
BALTIMORE, MD
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19th February 2019

Mortgage rates are predicted to rise to 5.5%

Although several housing market experts anticipate the market slowing down in 2019, LendingTree believes that there is no cause for alarm.

In its 2019 forecast, LendingTree predicts slower sales will give rise to an increase of inventory, which could benefit lenders and homeowners.  

“The medium- and long-term prospects for housing are good because demographics are going to continue to support demand,” LendingTree Chief Economist Tendayi Kapfidze writes. “With a slower price appreciation, incomes have a chance to catch up. With slower sales, inventory has an opportunity to normalize. A slowdown in 2019 creates a healthier housing market going forward.”

This should be welcomed news to a market that is already grappling with concerns of affordability and inventory.

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16th February 2019

Unconventional loans surge in 2018: Housing trouble ahead?

Homebuyers are increasingly opting for nontraditional mortgages – Opens a New Window.which helped precipitate the housing crisis about one decade ago – potentially foreshadowing trouble as high prices continue to weigh on housing affordability.

Throughout the first three quarters of last year, unconventional mortgages – those that don’t require borrowers to show typical income or other asset verifying documentation – rose 24 percent to $34 billion, according to data from Inside Mortgage Finance, as reported by The Wall Street Journal. While unconventional mortgages accounted for just 3 percent of overall originations during that period – traditional mortgage loans declined.

Unconventional mortgages are intended to help people with unusual circumstances, such as no consistent salary, get a home loan. However, they are considered more risky because they require borrowers to show less, or even no, documentation – which can lead to deceitful practices. These loans can allow borrowers or lenders to overstate assets to help secure a larger mortgage. A scenario whereby borrowers secured larger mortgages than their means allowed for partially precipitated the 2007 financial crisis

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14th February 2019

October Research 2019 State of the Industry

If 2018 was the year of change, then 2019 might be shaping up to be the year of transition. Experts across the country discuss housing market shifts, what that means for your business, and what you can expect in the year ahead in October Research LLC’s

 State of the Industry special report.

Thanks to sponsor, Qualia, the report is available as a free download.

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12th February 2019

Gov Appraiser Job in SAVANNAH, GA

Vacancy No.SCGW193689543179EHADepartmentU.S. Army Corps of Engineers
Salary$73,375.00 to $95,388.00Grade12 to 12
Perm/TempPermanentFT/PTFull-time
Open Date2/12/2019Close Date2/12/2019
Job LinkApply OnlineWho may applyPublic
Locations:
SAVANNAH, GA
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