Schmidt Appraisal Service

12/06/2025

RETIRED 12-01-2025

09/30/2022

Job 3:25

~ For the thing which I feared is come upon me,
and that which I was afraid of come
unto me.

Housing Market Declining Year Over Year September 28, 2022 Share on Facebook Tweet on Twitter tweet The housing market has been in decline for many years, according to recent reports. Price reductions and fewer sales has hit inventory growth with new listings declining year over year. According to r...

02/10/2018

Its Continuing Education time again. a little classroom humor...

01/01/2018

BELIEF IN YOURSELF IS THE KEY TO THE ENTREPRENEURSHIP JOURNEY
You hold the keys to realizing your dreams, so start with having a firm belief in your ideas. On this path, you will find detractors and naysayers by the dozen, but it is your dogged pursuit to realize your dream that will set you apart. In return, it will give wings to your dreams to soar, and soar high.

12/27/2016

IT truly seems this way every time i take a continuing education appraisal class. :-/

12/24/2016

A little Real Estate Humor for the holidays

12/22/2016

WHAT SLOWDOWN??? Existing-Home Sales Rise in Unusual November

11/15/2016

ARE INTEREST RATES GOING UP?

Rates can affect not only how much you pay on money you borrow, but how much you can earn on investments like certificates of deposit—and they can have broader implications, too. Cheaper rates mean it’s easier for both consumers and companies to borrow money. If consumers borrow, and spend more, that can provide a boost to the economy (assuming we don’t get in over our heads, which can have the opposite effect)—and companies can use loans to expand their businesses and hire more employees, which can be good for the economy, as well.

But if the economy expands too quickly, it can cause a jump in inflation—an increase in the price you pay for basic goods and services (which in turn makes your dollars less valuable). So the central bank is constantly weighing whether the economy is expanding fast enough or too quickly, as it decides whether to raise rates and take other actions.
(taken from grow.acorns.com)

11/12/2016

Distressed Home Sales Plunge to Nine-Year Low
Distressed sales—including bank-owned (REO) sales, sales of homes actively in foreclosure, and short sales—accounted for 12.9 percent of all U.S. single-family home and condo sales in Q3 2016. According to ATTOM Data Solutions’ Q3 2016 U.S. Home Sales Report, these numbers are down from 15 percent in the previous quarter and down from 15.9 percent in Q3 2015 to the lowest share of distressed home sales since Q3 2007, when distressed sales accounted for 12.3 percent of all home sales.

The peak in share of distressed sales was Q1 2009 at 43.9 percent of all U.S. single-family home and condo sales.

“Distressed inventory for sale is virtually non-existent in many of the nation’s hottest housing markets, and when a distressed property is listed for sale in those markets, it often sells quickly and at little or no discount,” says Daren Blomquist, senior vice president at ATTOM Data Solutions. “The scarcity of discounted distressed inventory is chasing away cash buyers and other bargain hunters, but it’s certainly good news for home sellers, who nationwide realized the biggest home price gains since purchase in nine years.
(taken from RisMedia.com report)

11/07/2016

WHAT'S IN STORE FOR THE HOUSE MARKET IN 2017?
According to the National Association of Realtors:
"For the majority of this year, the housing market could not get past low inventory levels, which were continuously cited as the main road block to a fully healthy housing market. Next year should be better. 'But it’s going to take time'. It went on to say: “It’s evident that demand and sales slightly weakened over the summer as stubbornly low supply limited buyers’ choices, accelerated price growth and hindered some consumers’ belief that now is a good time to buy a home,”“NAR surveys from both current renters and recent buyers prove that there’s an overwhelmingly strong desire among the younger generation to own a home of their own.”
“The housing market over the next couple of years should get a big lift in demand from these new buyers. The one caveat is it’s essential that there’s enough new and existing supply at entry-level prices for them to reach the market.”According to forecasts for next year, existing-home sales are projected to grow roughly 2% to around 5.46 million, and then experience a more prominent jump of 4% in 2018 (5.68 million).

08/25/2016

According to an article in APPRAISAL TODAY, Builder confidence in the market for newly constructed single-family homes in August rose two points to 60 from a downwardly revised reading of 58 in July based on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

“New construction and new home sales are on the rise in most areas of the country, and this is helping to boost builder sentiment,” NAHB Chairman Ed Brady said in the press release.

“Builder confidence remains solid in the aftermath of weak GDP reports that were offset by positive job growth in July,” NAHB Chief Economist Robert Dietz said. “Historically low mortgage rates increased household formations and a firming labor market will help keep housing on an upward path during the rest of the year.”

08/18/2016

I JUST HAD TO share a little humor this morning