Appraising Appraisals

first_imgHome / Daily Dose / Appraising Appraisals The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer.  Print This Post Previous: Court of Appeals Rules in Favor of Castle Law Next: Benjamin Carson on HUD: “A Force for Fairness” Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Appraisal Homeowners Prices Sales 2019-04-09 Seth Welborn Sign up for DS News Daily center_img April 9, 2019 820 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Appraisal Homeowners Prices Sales Subscribe Appraising Appraisals Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Homeowners may be overvaluing their homes compared to appraisals, according to the Quicken Loans’ National Home Price Perception Index (HPPI) for March 2019. THe HPPI stated that the average appraisal was 0.78 percent lower than homeowners expected, widening the gap between homeowners and appraisers more than 50 percent since February.“This month’s fluctuation in the HPPI was driven more by a dip in home values than a change in the owners’ viewpoint. Homeowners are often reluctant to believe their house has lowered in value, even at a slight monthly fluctuation,” said Bill Banfield, EVP of Capital Markets at Quicken Loans. “Depending on the area, appraised values are either growing at a much more measured pace, or have taken a step back from their meteoric rise. Homeowners are usually slower to realize change—in either direction—than the appraisers who study the market on a daily basis. This can lead to a slight widening of the perception gap when there is a turn in the market.”Overall, appraisal values dipped in March month over month. Quicken’s National Home Value Index (HVI) reported appraisal values dipped 0.20 percent from February to March. Regionally, the West saw the biggest increase in home values, up by 0.79 percent. The annual growth ranged from a 2.19 percent year-over-year increase in appraisal values in the West, to a 4.11 percent annual rise the Midwest. According to Quicken, these increases are more modest than we have seen over the last few years, but more in line with inflation and wage growth.“Some of the rampant buyer demand that we’ve seen over the last few years has subsided because of the affordability issues many areas are having, driven by a lack of availability,” said Banfield. “Would-be buyers have decided to sit on the sidelines to see if more home inventory becomes available at the price-points where they’re shopping. The entire housing industry is watching to see what will happen in the coming months—whether owners and builders will provide the home inventory the buyers have been waiting for, amid the recent drop in interest rates.” Share Savelast_img read more

JJ Food Service launches foodservice credit card

first_imgNational wholesaler JJ Food Service has launched a credit card.Described by the business as a first for the UK foodservice industry, the card has an upper limit of £25,000 and up to 37 days’ interest-free credit, which JJ Food Service said would help to support caterers’ cash flow.“We understand how hard it can be for independent caterers to manage cash flow,” said JJ Food Service CEO Mustafa Kiamil. “The Mastercard can be used to pay for anything from petrol and utilities to food and drink supplies. We invite all our customer to apply for the card.”Opening a trade account can be difficult if you have minimal trading history, added the company’s group general manager Terry Larkin.“That’s why the online application process considers many other unique factors,” he said, adding that 90% of customers would get a decision within 30 seconds of completing the online form.“It’s just one of the many ways we are supporting the independent sector,” added Larkin.Customers can add the card onto their online account or use it in-store. The interest is 0% if the account is paid in full each month and there are no annual or monthly fees.last_img read more

Schwarzenegger points spotlight on climate

first_imgWith age, regular physicals become more important to a person’s health. Such is also the case with climate assessments and the environment, former Gov. Arnold Schwarzenegger explained during an interview with the Daily Trojan on Monday.Governator · Former Governor Arnold Schwarzenegger speaks at the Schwarzenegger Institute Inaugural Symposium in September 2012. — Courtesy of Steve CohnSchwarzenegger will speak at USC on April 8 during a public comment forum in which regional scientists will present stark findings from a draft chapter of the third National Climate Assessment.The Southwest Region chapter, which includes California, projects that effects of climate change might include decreasing water supplies for cities and agriculture, increases in wildfires and rising sea levels. Presenters will discuss climate research on subjects ranging from the water supply to tree mortality.“[A physical] gives an evaluation of your body and what you can do to protect it down the line so you don’t continue that trend,” Schwarzenegger said. “And this is what this assessment report does. It gives you an idea of where we are and where we go with that and what we need to do in order to improve the situation.”USC’s Schwarzenegger Institute and the Center for Sustainable Cities, which opened in September, will host the forum. Through sponsoring the event, the institute hopes to shine a spotlight on an issue that normally would receive little attention.“This report was kind of a low-key issue that would just go by and be just another report that I don’t think many people would pay attention to,” Schwarzenegger said. “And we then try to make sure that the media does pay attention to it and report on it.”Several scientists presenting at the forum commented on the importance of raising awareness for climate trends. University of Arizona Professor Thomas Swetnam, who will present findings on tree mortality, said the media has not accurately captured the magnitude of climate change.“There really hasn’t been that much media coverage of the impacts that have occurred and are likely to occur,” Swetnam said.A Media Matters report from last year shows that about 9 percent of television segments and 26 percent of print articles covered the record-breaking heat last July.David Pierce, a Scripps College climate researcher studying water issues in Southern California, noted that it’s particularly important to be conscious of climate change predictions for infrastructure planning.“Forewarned is forewarned,” he said. “I should mention any changes to water infrastructure or water allocation can take decades to accomplish. It’s better to start your planning on any adaptation early rather than waiting too long.”Scientists argued the issues presented in the report could have serious ramifications that the public should be attuned to. Swetnam warned that climate change could threaten iconic tree species, even California’s giant sequoia.“Is climate going to change enough to cause a loss of some of these national treasures? Right now science is suggesting yes, they are at risk,” Swetnam said. “So we need to take action.”Schwarzenegger, who actively worked to curb climate change as governor, said he hopes to reach a broader audience by using the institute to spotlight the report.“It is global warming and not just California warming. There is only so much we can do as a state,” Schwarzenegger said. “I think that the institute has given me the platform to talk to the rest of the world, especially to all the academic institutions around the world.”Schwarzenegger is planning on writing a letter to the president and congressional leaders after Monday’s forum, according to Bonnie Reiss, the institute’s global director.The hearing came about when Hilda Blanco, interim director of the USC Center for Sustainable Cities and a lead author of the chapter, approached Reiss with the primary motivation of bringing more attention to the issue.“She came and she said, ‘Sadly, this is the third scientific report in 23 years, and it has very dramatic findings and it won’t get attention,’” Reiss said.Using a university as the forum’s setting is important to Schwarzenegger because he believes students should be more involved in the political process.“The key thing with all of this is to inspire the students to get involved because I believe that the mistake that has been made in the past is that we always look to government for the answers and the solutions,” Schwarzenegger said. “But, in fact, we should challenge the average person — everybody — out there to participate because that’s how movements become successful.”The forum will be held in Lewis Hall auditorium on April 8 from 4 p.m. to 6 p.m. Public comment on the third National Climate Assessment draft ends on April 12 and can be submitted online.last_img read more