Slow Down?

[Joe Flacco]

My commercial appraiser friend says 2018 was crazy busy. Busiest he has ever been.

 

[Raven59]

My commercial appraiser friend says 2018 was crazy busy. Busiest he has ever been.

Number of bid opportunities and volume down half of 2017 for last six months of a year. The number of temporary permits at the board down 40%. Number of commercial license applications at board down half.

 

[djd09]

“The combination of higher mortgage rates and higher home prices rising faster than incomes and wages means fewer people can afford to buy a house. Fixed rate 30-year mortgages are currently 4.75%, up from 4% one year earlier,” S&P Dow Jones Indices Managing Director and Chairman of the Index Committee David Blitzer said. “Home prices are up 54%, or 40% excluding inflation, since they bottomed in 2012. Reduced affordability is slowing sales of both new and existing single-family homes.”

https://www.housingwire.com/articles/47811-corelogic-home-prices-will-rise-in-2019

The usual chatter.

 

[Elliott]

On the other (invisible) hand:

 

[Vermonter]

2018 was a solid year here. Not the best, but close. Spring was the busiest I've ever had volume wise. Slowed significantly after July, but rounded out to a good year. I was expecting worse.

2019 is starting off a little above average, but not sure what to expect.

 

[James Micozzi]

Your opinion about this year slowdown is different than almost every other appraiser on the board, your opinion is valid for you personally, it just does not jibe with what virtually every other appraiser posting reports.

I hope things turnaround ! As do all of us....

wow. you really come to some crazy conclusions. I said every year people complain that is it slow this time of year and it is always the worst ever. Never said that it has not slowed down. The point I am making is that it always slows down this time of year and there are always dozens of posts from various appraisers predicting the end of the world so to speak.

 

[J Grant]

You are something else... I did not draw a crazy conclusion, I described what other posters are saying that yes, during holidays there is a slow down and every year posts complaining of slow , but that this year has a different degree of it. If you can't read that in the posts and understand what it means, so be it.

 

[ucbruin]

You are something else... I did not draw a crazy conclusion, I described what other posters are saying that yes, during holidays there is a slow down and every year posts complaining of slow , but that this year has a different degree of it. If you can't read that in the posts and understand what it means, so be it.

 

[TERPLANDLORD]

Yes it has been very slow for months. The mortgage companies are laying off. No new people are getting into the mortgage industry. Big lenders are reorganizing by firing higher paid regional managers and bringing in cheaper employees. AMCs are gettin squeezed , bidding to lower appraisal fees , not paying on time and bleeding red ink. It's the predictable consequence of ending 8 years of enemic 0 percent fed rates for the broken bush/Obama economy. 0 percent rates were explicitly made policy to artificially reflate real estate and the stock market. As rates try to normalize under the stronger Trump economy the stock market and real estate are under pressure. This year will probably suck as far as volume is concerned.

 

[J Grant]

Yes it has been very slow for months. The mortgage companies are laying off. No new people are getting into the mortgage industry. Big lenders are reorganizing by firing higher paid regional managers and bringing in cheaper employees. AMCs are gettin squeezed , bidding to lower appraisal fees , not paying on time and bleeding red ink. It's the predictable consequence of ending 8 years of enemic 0 percent fed rates for the broken bush/Obama economy. 0 percent rates were explicitly made policy to artificially reflate real estate and the stock market. As rates try to normalize under the stronger Trump economy the stock market and real estate are under pressure. This year will probably suck as far as volume is concerned.

So the RE market imploding /slowing is due to OBAMA , who is out of office for 2 years,..not the current president TRUMP, who has been in office the last 2 years? It's not a " stronger Trump economy", if it were we would not be experiencing this massive slow down and other flagging indicators.

This slowing housing market and jittery economy is direct result of the Trump's admin policies. The hypocrisy is incredible...the RW mantra is "take responsibility!"...only none of you ever do.
You'll take credit for a success , but as soon as there is a problem you shirk responsibly and blame Obama (or somebody)