Sonoma County Appraiser Snapshot

Here is a recent article from Law & Liberty regarding the potential of the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac potentially being released from conservancy by the government. 

https://lawliberty.org/not-another-free-lunch/

Click on this link for an (in my estimation) excellent article elucidating what we might expect (as appraisers specifically and consumers more generally) from the new administration due to be inaugurated in January 2025:

https://appraisalbuzz.com/now-what-on-a-new-trump-administration/

Please pass along and recommend connecting to my blog in your "Favorites" 

Thanks!

Erik Kirby/Certified Residential Appraiser/707.540.4934
Appraising in Sonoma and Napa counties for 19 years
FHA and VA panel(s) appraiser

The Fed cut the prime lending rate by .25 basis points yesterday (11/07/2024). However, mortgage rates are barely moving downward. It turns out mortgage rates don't always follow the prime rate. As ever, "it's complicated." Here is a bit of insight from Mortgage News Daily. 

https://www.mortgagenewsdaily.com/markets/mortgage-rates-11072024

The fact remains that locally in Sonoma county and more broadly in the Bay Area, inventories remain low and entry level pricing remains high. Stay tuned for more follow up as things develop.

The rapid rise in interest rates from Spring 2022 through 2023 have put a serious pinch on real estate transactions and have nearly zeroed out refinancing. After The Fed left rates unchanged earlier this week, the prognosticators are still anticipating lower rates in the spring. Read this article from NBC News for additional information. 

https://www.nbcnews.com/business/economy/mortgage-rates-when-will-they-fall-how-much-2024-fannie-mae-rcna134506

Please contact us if you have the need for appraisal services. Thanks!

http://www.pressdemocrat.com/news/8192083-181/uncontrollable-flashbacks-mental-anguish-remains?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5acae54b04d30164b15f50eb&utm_medium=trueAnthem&utm_source=facebook&sba=AAS&gallery=8195519

http://www.pressdemocrat.com/news/8090984-181/hundreds-of-vacant-lots-placed?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5aaee2c904d30176f22465ca&utm_medium=trueAnthem&utm_source=facebook

http://www.pressdemocrat.com/news/8011910-181/fires-fuel-a-daunting-push?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5a925efa04d301158eb391b6&utm_medium=trueAnthem&utm_source=facebook

http://www.pressdemocrat.com/news/8028649-181/sonoma-county-grossly-underprepared-for?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5a8fae023ed3f00008d0a560&utm_medium=trueAnthem&utm_source=facebook

https://www.washingtonpost.com/lifestyle/travel/after-the-october-wildfires-california-wine-country-is-ready-to-pop-some-corks/2018/02/15/9b17cf26-0c2f-11e8-8890-372e2047c935_story.html?utm_term=.db37ce89faae

Four panelists weigh in on whether or not technology will ultimately replace the human appraiser:

http://www.housingwire.com/blogs/1-rewired/post/39463-experts-answer-will-technology-replace-appraisers