Origination

Matt Stepanovich of SingleSource Property Solutions discusses big data’s role in standardizing property valuations and the future of appraisal modernization.

“Applications for purchase loans on newly constructed homes remained strong in July, up 36% annually, as new homes continued to account for a growing share of homes available for sale,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

Typically, teachers can only afford a few homes near their home school, a number which keeps dwindling as time goes on, according to the latest data from Redfin.

As workforces are cut, the use of technology to automate specific workflows can be beneficial, while establishing a playbook for when it’s time to go back on the offense.

With extensive product strategy and technology leadership experience in the real estate industry, Fortier will direct and continue to enhance the Paragon Connect system, which provides real estate agents on-the-go access to advanced agent-client collaborative features and business management tools.

“Tons of homeowners scored an incredible deal during the pandemic: a 3% mortgage rate for the remainder of their 30-year loan … this means buyers who are in the market now are duking it out for a very small pool of homes, preventing home values from plunging,” said Redfin Economics Research Lead Chen Zhao.

The average American homeowner was able to purchase their first home at nearly 29 years old, according to a new survey from Shane Co.'s The Loupe. The survey revealed that the average homeowner rents for roughly five years before purchasing a home, while more than 25% of respondents believe it's now impossible to afford a home as a single person in the current housing market.

Continued housing demand and a lack of existing inventory are just two of the forces that make construction-to-permanent loans an ideal opportunity to make up for lost volume in today’s marketplace.

Boom-bust markets include Phoenix and Austin, Texas. House prices increased 65% from February 2020 to the peak in May of 2022 for both markets, but have since declined by 9.5%

A new report from Redfin revealed the typical U.S. home purchased in high-opportunity neighborhoods sold for an estimated $470,000 last year, nearly 40% more than the typical home in low-opportunity areas, as many of those neighborhoods continue to be gentrified, making them less affordable.