Home Price Indices Continue Escalating
Multiple monthly home price indices continued climbing to higher elevations, with the West dominating the rise. At least one index reached another all-time high.
South Leads Drop in Existing Home Sales
Although the number of residential properties sold last month was the highest in years, the annual rate was still lower. The South had the biggest impact on national sales.
Quicken Loans Loses Class Action Appraisal Lawsuit
Quicken Loans Inc. has lost a class action in which it was accused of suggesting values to appraisals. But the mortgage giant expects to be vindicated on appeal.
VA Extends Appraisal Requirements by 2 Years
Previously issued appraisal requirements for single-family loans that are guaranteed by the Department of Veterans Affairs have been extended by two years.
Appraisal News Daily
The federal government has weighed in on one state's proposal to fix appraisal fees paid by appraisal management companies. Other valuation services activity include a new consumer valuation tool, an appraisal webinar and an integration between two service providers.
5 Highest Appreciating Home Markets Include 3 Ds
Although two cities located in the Northwest consistently top the list of areas with the fastest-rising home values, a trio of D-cities recently rounded out the top five.
Record Prices, Market Time as Existing Home Sales Up
Monthly sales of pre-owned residential properties rose. Record prices are being paid for existing homes as properties fly off the market. Time on market was a record low.
AMC Acquisitions, Partnerships and Expansions
In the valuation industry, an appraisal management company has been acquired, while several AMCs have partnered to create a bigger firm. Other AMCs have enhanced their offerings.
La Appraisers Sued for Restraining Price Competition
A regulation that was adopted in Louisiana restrained price competition among appraisers, according to a legal action that was filed against the state's appraisal board.
Bank Regulators Ease Appraiser Requirements
Federal regulators of the nation's financial institutions have come up with a short-term solution to the shortage of real estate appraisers.