I am not doing the 3.6 FORM deal

[djd09]

Housing alarm as half of all US homes fall in value - biggest drop since the Great Recession​

Home values are falling for more than half of America — the biggest share since the country was still clawing its way out of the Great Recession.

New data from Zillow shows that 53 percent of US homes have lost value over the past year, the highest level since 2012, when the housing crash finally hit bottom.

The national market looks flat on paper, but that average masks huge differences between regions, cities and even neighborhoods.

Prices have been slipping in much of the South and West as more homes hit the market and buyers stay on the sidelines.

Many would-be buyers are holding off amid recession fears, stubbornly high mortgage rates above 6 percent, and a standoff with sellers who refuse to cut asking prices.

Many of the biggest drops are in once-red-hot pandemic boomtowns. In Denver, 91 percent of homes have fallen from their peak value. It’s 89 percent in Austin, and 88 percent in Sacramento.

Florida has been hit hard too: more than 80 percent of homes in Jacksonville, Orlando and Tampa are now worth less than they were a year ago. Dallas and San Antonio are also seeing declines of more than 85 percent.

Zillow's report echoes a similar one from S&P Cotality Case-Shiller that looked at the biggest 20 US metros, and found nine had seen house prices fall.

and that's what happens when corporations stop buying single family homes. Oh, those subsidized illegal immigrant renters are being deported and the natives can not afford the rent? No sense in buying more homes for top dollar. they have much bigger issues besides 3.6

 

[Non Sequitur]

So which one is it: appraisers are mad nobody is ready, and also mad that some are?

And from an implementation standpoint, it is a pretty darn big lift for the software providers from a political (standards are a moving target) and technology standpoint. I'm glad I never got into the report software game...

They deserve all the criticism they are getting. The reason appraisers were/are mad, in case you don’t remember, they have been beating us over our heads about being prepared since this time last year. We weren’t the problem, they were the problem. Now they are acting like they found life on Mars. And give me a break, the only heavy lift on the software side was this industry is so skinny they couldn’t hire the talent to get this over to finish line in a reasonable time. That’s not appraisers’ fault, that’s their fault.

 

[cashcatz]

they have been beating us over our heads about being prepared since this time last year

And some are announcing they are there or close. What's the problem?

the only heavy lift on the software side

How many lines of software code have you written around a moving spec?

 

[Non Sequitur]

How many lines of code have you written around a moving spec?

Zero. But I’m not paid to do that, and I don’t own a company that makes money doing that. Bottom line is none of them invested enough money to bring in outside or new talent to get any of this done in a reasonable time. Again, that’s because there’s not enough money in this industry. The amount of money that will be lost by legacy software providers over this mess will make PAREA look like a success.

 

[cashcatz]

Zero. But I’m not paid to do that, and I don’t own a company that makes money to do that. Bottom line is none of them invested enough money to bring in outside or new talent to get any of this done in a reasonable time. Again, that’s because there’s not enough money in this industry. The amount of money that will be lost by legacy software providers over this mess will make PAREA look like a success.

Would you prefer they increase prices? Software in this industry is already much cheaper than peer / other niche industries.

Also, it was not just about money to hire more developers, it was that the spec/standard is a moving target outside of software provider control.

 

[Non Sequitur]

Would you prefer they increase prices? Software in this industry is already much cheaper than peer / other niche industries.

I’ll let you in on the secret; They are increasing prices, some dramatically. The press releases will be coming soon enough And I do agree with you, software prices in our industry have been very cheap for a long time. But that’s because what they developed 20 years ago still works today for 2.6. That has changed, and appraisers who stay in a game will pay the piper to use the 3.6 software.

 

[djd09]

i want to use the same form the loan brokers use when estimating value for the gse's...

 

[J Grant]

A series of "dynamic" drop-down fields that are not visible until prompted, then gets filled in in real time, sounds like it is fundamentally incompatible with appraisal report forms software. If that were not the case, the software programs could easily integrate the added data fields. like they did when UAD was first introduced.

Any data fill solutions will not resolve the real time suck in appraisals, which, among other things, is finding the information that is not readily available as "data".

 

[Terrel L. Shields]

Florida has been hit hard too:

They will recover as NY residents flee communist NY.

However, how much housing was bought on one of the following premises?

A- Lets fill it full of illegal immigrants. Not all of them are living under a tree in the forest.​

B- I'll buy this house on the lake and set up an AirBnB and I can pay any price because the profits will make up the difference. Then I will use it as a Time Share spending a few days a year there myself when it is vacant. ​

Now where are all the immigrants? Where are all the vacationing people willing to pay $200 a night for an AirBnB when they can get a room at the Hampton Inn for $80 less.

 

[djd09]

just remember how the gse's just labeled you racists...and cert 23...and their 200 billion dollar bailout...and how they steal your data to let the loan broker estimate value, eh george?