January 18, 2012

PD&R’s online magazine,

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PD&R’s online magazine, The Edge, provides you with a snapshot view of our newly released research, periodicals, publications, news, and commentaries on housing and urban development issues. Stay informed on current topics and check back frequently, as our content is routinely updated.

New on The Edge

From the Assistant Secretary:
LGBT Elders

Assistant Secretary Raphael Bostic reflects on the LGBT Elder Housing Summit hosted at HUD headquarters in Washington, DC in December. The event, the first of its kind, highlighted the unique difficulties facing the LGBT elder population and existing program models developed to meet their housing and supportive service needs.

Partner Report:
Urban Poverty: A New Generation of Ideas

Reducing Urban Poverty: A New Generation of Ideas includes winning papers from the second academic competition sponsored by the Woodrow Wilson Center’s Comparative Urban Studies Project and partner organizations. The competition recognizes the need for evidence based policymaking and program development to address the challenges presented by rapid urbanization across the world.

Job Accessibility for Households Without Vehicles

A recent report by the Brookings Institution examines economic and transportation opportunities available to households that lack a personal vehicle compared with households with cars. The basis for the analysis is ACS data from the 100 largest metropolitan areas, which records more than seven million zero-car households in the metropolitan areas.

In Practice:
New Program Will Spur Affordable Housing Development in Chicago

The city of Chicago passed the Home Sweet Home ordinance to spur affordable housing production in a challenging economy. The ordinance allows developers to use tax increment financing, a tried and true tool, to redevelop multifamily rental units.



Likely Trends in the Distribution of CDBG Funds

Likely Trends in the Distribution of CDBG Funds
The recently released “Redistribution Effect of Introducing 2010 Census and 2005-2009 ACS Data into the CDBG Formula” highlights differences between the decennial Census, formerly used for allocating the CDBG formula, and the American Community Survey (ACS), the new Census data source for information on poverty and the other variables in the CDBG formula. The report shows how use of different data affects grants to communities, and considers whether these changes reflect actual conditions or methodological changes.


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January 11, 2012

New post on Affordable Housing Report

New post on Affordable Housing Report


HUD awards $3.6 million in Choice Neighborhoods Planning Grants

by Arul Sundaram

HUD announced today that 13 communities across the U.S. will receive $3.6 million in Choice Neighborhoods Planning Grants.  Building on nearly 20 years of success through HUD’s HOPE VI Program, Choice Neighborhoods links housing improvements with a wider variety of public services including schools, public transit and employment opportunities.  HUD received 71 submissions for FY 2011 Choice Neighborhoods Planning Grants from communities across the U.S.  Successful applicants demonstrated their intent to transform neighborhoods while leveraging outside investments and other federal dollars to plan for high-quality public schools, outstanding education and early learning programs, public assets, public transportation, and improved access to jobs and well-functioning services. HUD is focused on directing resources to address three core goals – housing, people and neighborhoods.


NYCHA allows churches to continue worshipping at its community centers, stemming growing eviction fears

by Arul Sundaram

Church groups who worship at housing project community centers are saying a collective “Amen” after the New York City Housing Authority said it would work with pastors who meet on their properties.  The fear was that church groups would be ousted, in the same way that the city recently barred worship services in public schools on weekends after the U.S. Supreme Court let stand a ruling that sided with the Department of Education, leading to 60 religious groups in the city having to find new locations.  NYCHA officials said that is not the case.  “The New York City Housing Authority is not evicting any of these organizations from our property,” an agency spokeswoman said in a statement.  The groups have been using NYCHA property under short-term agreements that expired at year’s end.  “We have offered each of the five groups an extension to remain at NYCHA facilities,” the statement continued.

Freddie Mac to give unemployed homeowners a break

by Arul Sundaram

Homeowners who lose their jobs will be able to skip payments on loans backed by Freddie Mac for up to a full year under a new policy taking effect Feb. 1 at the mortgage finance giant.  The change, doubling the forbearance extended to the unemployed, squares Freddie Mac's policies with those that its sister company, Fannie Mae, adopted in September 2010.  Starting Feb. 1, servicers can now unilaterally allow borrowers to skip payments for six months, and add on another six months with Freddie's approval. The missed payments would be added on the loan balance unless the borrowers separately obtain a loan modification waiving that measure.  Fannie Mae and Freddie Mac, operating under government conservatorship since nearly melting down three years ago, own or guarantee more than half of all U.S. mortgages.


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January 09, 2012


USE OF CONVENTIONAL SALES DATA. (HUD 1450.10 No options are included for the use of Non-Conventional Sales Comps)

When using conventional sales data, the appraiser must be aware of the terms of the sale and adjust the conventional sales price to reflect any unusually favorable terms.


In the case of a property sold with two or three mortgages or

trusts, the going rate of discount must be determined for the second

and/or third and the sales price reduced by the amount of the

discount. It is better to avoid such transactions if single

mortgages, trust, or all cash conventional sales are available.

Sales made by contracts for deed (land contracts) shall not be used

as conventional data due to the difficulty of determining discount

rates and unusual term arrangements.

A. When using sales data in appraising inner-city properties, the

appraiser must exercise extreme care to ensure that the property

selected for comparison is as nearly like the subject property

as possible. The appraiser should examine the comparable





4150.1 REV-1


(6-7) information carefully to determine the terms of sale and the

condition of the comparable, visually verify the description of

the property, and note any advantages or disadvantages found in

the neighborhood. The appraiser should carefully adjust the

sale to reflect conditions found.

6-8. EVALUATION AND USE OF MARKET DATA. In evaluating market data, the

appraiser determines:

A. If a sale, whether the price resulted from a normal transaction

under free and competitive conditions where the buyer and seller

acted intelligently and without duress, and were not motivated

by unusual or capricious desires; or,

B. If a listing, whether the price quoted is at or near the price

at which the property may be expected to sell rather than a

price to "test the market" or a price that would induce the

owner to sell although he has no particular desire to sell; or

C. That the data are factual and reflect the current market

reaction to pertinent factors of supply and demand. Generally

speaking, however, listings are not acceptable as comparables

since they represent the highest price for which a property is

likely to sell. Listings may be shown on an addendum to

indicate the asking prices in a neighborhood, but only in

extremely unusual circumstances, such as an area in which there

has been virtually no activity for some time may they be used.

In those cases, the appraiser must verify all information and

discount as necessary to make a judgment as to the amount for

which the property is anticipated to sell. When a listing or

listings are used, the Reviewer must check data to verify that

there have been no sales in that area for some time.

6-10. MARKET PRICE COMPARISONS. The existence of rapidly rising or

declining prices of residential properties, as indicated by data,

must be recognized in the appraisal. The appraiser will analyze the

data and determine the rate of increase or decrease in residential

prices. The rate of increase or decrease from the date of the sale

of the comparable ("Market Price") to the date of the appraisal will have an effect on the value of a property and must be considered. The appraiser will






4150.1 REV-1


(6-10) adjust the sales price of the comparables (again "Market Price")by the rate of increase or decrease for the appropriate time, (three months or more) to determine a range of indicated value that is relevant to the current market (as defined eariler in this section.) It is not appropriate to adjust listings for any applicable rate of increase. (And I would assume decrease.  But, how much of this went on during the run-up of residential values?  How much is happing now that prices are declining?)


A. Market Price Comparison. Market price comparisons are made

using sales and listings of competitive properties as guides in

estimating the amount likely to be paid for the property under

appraisal. Experienced appraisers familiar with the market in

the community rely on their experience and comprehensive

knowledge of current sales and listings to make a preliminary

estimate of the price range in which the property under

appraisal is likely to fall. Thus, sales and listing data

should cover the broad range of the market including FHA, VA,

and conventional transactions.  (Not mentioned are REO, Short or other Distressed Sales Transctions.)

B. Preliminary Price Comparison. Each appraisal report will

contain at least one conventional comparable, if available, and

be so designated on the appraisal form. The data should include

comparable sales in competing neighborhoods and should not

necessarily be limited to the subject neighborhood or

subdivision or block. Sizes, accommodations, locations and date

of sale are considered in this preliminary process of

establishing a price range.

C. Specific Estimate. A more specific estimate of the market price

must be made somewhere between the upper and lower limits of the

preliminary price range. This is done by a more detailed

comparison of the subject property with those selected as

comparable. This refining or pin-pointing process includes

making lump sum allowances for plus or minus features.

6-12. RELIABILITY OF SALES DATA. Consideration must be given to factors

surrounding the sale of a comparable property such as date and terms

of the sales transaction. In some instances the price paid may have

resulted from necessity or nontypical points of view of an

individual purchaser. The bargaining process between a buyer and

seller or their representatives may affect the amount paid resulting

in a sales price above or below the general market level for such a


A. Sales data are reliable to the degree that they embrace

information which accounts for the prices paid including:


1) The motives of the buyer and the seller.

2) Relative skill and intelligence of the buyer and seller in negotiating the sale.


Curtis D. Harris, BS, CGREA, REB
Bachelor of Science in Real Estate, CSULA
State Certified General Appraiser
Real Estate Broker
ASTM E-2018 Commercial Real Estate Inspector
HUD 203k Consultant
HUD/FHA Real Estate Appraiser/Reviewer
FannieMae REO Consultant

CTAC LEED Certification

The Harris Company, Forensic Appraisers and Real Estate Consultants
*PIRS/Harris Company and the Science of Real Estate-Partners*

1910 East Mariposa Avenue, Suite 115
El Segundo, CA. 90245
310-337-1973 Office
310-251-3959 Cell



Commercial Appraiser Blog:

We Make a Simple Pledge to

Communicate, in a timely fashion, each appraisal, analysis, and opinion without bias or partiality

Abstain from behavior that is deleterious to our clients, the appraisal profession, and the public

Hold paramount the confidential nature of the appraiser/consultant - client relationship


Comply with the requirements of the Uniform Standards of Professional Appraisal Practice and the
Code of Professional Ethics of the National Society of Real Estate Appraisers

IT'S THE LAW-Designation Discrimination is Illegal [FIRREA, Sec. 564.6]: Professional Association Membership Membership in an appraisal organization: A State Certified General Appraiser may not be excluded from consideration for an assignment for a federally related transaction by virtue of membership or lack of membership in any particular appraisal organization, including the appraisal institute.

CONFIDENTIALITY/PRIVILEGE NOTICE: This transmission and any attachments are intended solely for the addressee. The information contained in this transmission is confidential in nature and protected from further use or disclosure under U.S. Pub. L. 106-102, 113 U.S. Stat. 1338 (1999), and may be subject to consultant/appraiser-client or other legal privilege. Your use or disclosure of this information for any purpose other than that intended by its transmittal is strictly prohibited and may subject you to fines and/or penalties under federal and state law. If you are not the intended recipient of this transmission, please destroy all copies received and confirm destruction to the sender via return transmittal

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December 06, 2011

PD&R’s online magazine, The Edge,

PD&R Edge Header Logo

PD&R’s online magazine, The Edge, provides you with a snapshot view of our newly released research, periodicals, publications, news, and commentaries on housing and urban development issues. Stay informed on current topics and check back frequently, as our content is routinely updated.

New on The Edge

From the Assistant Secretary:
National Urban Development Conference in Kassel, Germany.

Assistant Secretary Bostic delivered a keynote speech on interrelationships between climate impacts and cities at the Fifth National Urban Development Congress held in Kassel, Germany, in October. His participation results from Joint Declaration of Intent signed by HUD and the German Ministry of Building, Transportation and Urban Development to work together to promote sustainable, livable communities in both nations.

HUD Partner Report:
Adapting to Climate Change: Cities and the Urban Poor

Adapting to Climate Change: Cities and the Urban Poor, released by the International Housing Coalition, discusses the disproportionate impacts climate change could have on the poor in rapidly urbanizing areas, and the need for appropriate responses from government, private sector, and researchers to address this problem.



Skyline of Cleveland.

Spotlight On Cleveland
The Spotlight on the Housing Market Conditions in Cleveland-Elyria-Mentor, Ohio highlights trends in housing market indicators across the Cleveland Metropolitan Statistical Area along with outcomes from the administration’s efforts to stabilize the housing market throughout the region.


Please send your comments and suggestions to



HUD USER | P.O. Box 23268, Washington, DC 20026-3268
Toll Free: 1-800-245-2691 | TDD: 1-800-927-7589
Local: 1-202-708-3178 | Fax: 1-202-708-9981

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November 15, 2011

Moving to Opportunity for Fair Housing Demonstration Final Impacts Evaluation

Moving to Opportunity for Fair Housing Demonstration Final Impacts Evaluation

Icon image of Moving to Opportunity for Fair Housing Demonstration Final Impacts Evaluation. HUD recently released the “Moving to Opportunity for Fair Housing Demonstration Final Impacts Evaluation.” The final report details the findings of a 15-year, experimental study that examined the effects of moving from public housing developments to neighborhoods with lower poverty rates on adults and children in five U.S. cities. The research measured outcomes related to mobility, neighborhood and housing conditions, social networks, mental and physical health, economic self-sufficiency, risky and criminal behavior, and educational attainment.

Overall, the demonstration shows that housing vouchers provide expanded access to neighborhoods where poverty rates are lower and residents feel safer. In addition, women in the program who moved to neighborhoods with poverty rates less than 10 percent (the “experimental group”) were less likely to develop diabetes and extreme obesity compared to women in the control group who were not given vouchers to move. Moving did not result in less reliance on public assistance or improved economic outcomes, nor did it improve educational attainment in children.

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September 09, 2011

From: American Housing Survey (AHS) ListServ

From: American Housing Survey (AHS) ListServ <>

The HUD USER web site has a number of updates related to the American Housing Survey:

2011 AHS Page
The 2011 survey is still in the field, of course (69,702 cases checked in!), but we have started a web page for it. You can download the instrument items booklet in English and Spanish. This is a human-readable (more or less) version of the survey instrument. You can see the wording of the questions and responses. You can also download a copy of the instrument software that you can install and run on a Windows-based computer. It won't save any results, but you can step through an interview and follow how the program branches as it gathers information from the respondent.

2009 Metropolitan Survey Report
We've done something different with the metropolitan surveys this year. Instead of printing separate reports for each metropolitan area, we've put them all into a single volume. It covers all seven metropolitan areas surveyed in 2009: Chicago, Detroit, Philadelphia, New Orleans, New York, Northern New Jersey, and Seattle. You can download a PDF version of the volume from the Census Bureau web site at , or you can order a paper copy from the HUD USER web store ( This will probably be the very last time we print a metropolitan report. When we finish collecting the data for the 29 metropolitan areas in the 2011 survey, the data will be available on American Factfinder.

2009 Replicate Weights Dataset
Because the AHS does not use a simple random sample, variances of AHS-based estimates are difficult to calculate. Standard statistical software, which assume simple random samples, will tend to underestimate variances. For the first time, we have produced a replicate weight dataset for the AHS national survey. These replicate weights can be used to calculate correct variances, using software such as SAS PROC SURVEYMEANS. The dataset is available for download in SAS and ASCII formats from . Be sure to download the documentation file from the same page. If anyone has instructions on how to use these weights with software other than SAS, I would appreciate having a copy for our user-supplied software library.

2009 CINCH Datasets
The Components of Inventory Change (CINCH) program uses the longitudinal features of the AHS to trace the sources and disposition of the housing stock. The CINCH (and Rental Dynamics) reports have been available for some time. Now you can also download datasets containing the special CINCH weights and recodes, so that you can do your own tabulations on changes in the housing stock. There are datasets for the National, Seattle, and New Orleans surveys. You can download these by following the links from

AHS Research Conference
You've seen this last one before, but another reminder:
In Spring 2012, the Office of Policy Development & Research, Department of Housing and Urban Development, will host the 2nd Annual American Housing Survey User Conference. The purpose of the user conference is to highlight recent research results based on American Housing Survey (AHS) data. To inform this conference, we invite scholars to propose research papers that apply the special features of the AHS datasets to issues of current interest.

The deadline for submission has been extended to September 16, 2011. For details about how to submit an abstract, go to

Dav Vandenbroucke
Senior Economist
U.S. Dept. HUD

I disclaim any disclaimers.

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August 26, 2011

FHA Condominium Training: Using the Condominium Project Approval and Processing Guide:



FHA Condominium Training: Using the Condominium Project Approval and Processing Guide:


FHA is pleased to announce training on the new condominium guidance issued in Mortgagee Letter 2011-22.  This two-day training event, “Using the Condominium Project Approval and Processing Guide,” will be conducted in all four Homeownership Center (HOC) jurisdictions.  The training event is open to all industry professionals and other interested parties. The training dates for each of the four Homeownership Centers are listed below, as well as, the registration links for the 4 respective HOCs.  Due to the time constraint, the venue locations for Atlanta and Philadelphia are not available yet.   Future email update with the venue locations for these 2 HOCs will be sent out to the registrants of these locations.  Although the actual training venue locations have not been identified, it is important that you register as soon as possible. Registration is based on a first-come, first-served basis.  Please register for only those sessions that you plan to attend by clicking on the corresponding link.  Reminder: Recording or videotaping of these events is NOT authorized.


Condo Training Locations and Dates:


September 08-09, 2011 - Denver Homeownership Center. Register at:


September 12-13, 2011 - Santa Ana Homeownership Center. Register at:


September 22-23, 2011 - Atlanta Homeownership Center. Register at:                       


September 27-28, 2011 - Philadelphia Homeownership Center. Register at:

To read Mortgagee Letter 2011-22 and any attachments in their entirety, please visit: view the 2011 letters and click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.

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August 17, 2011

AARP Foundation Suing Fannie Mae and Wells Fargo

AARP Foundation Suing Fannie Mae and Wells Fargo

Wednesday, August 17, 2011

AARP Foundation is suing Wells Fargo and Fannie Mae in the San Francisco Federal Court over the rights of a survivor to redeem the property after a Home Equity Conversion Mortgage borrower dies. This case involves the nonrecourse provision of the HECM and the withdrawn HUD Mortgagee Letter 2008-38, which called for heirs having to repay the loan in full if they wanted to keep the property. The Department of Housing and Urban Development removed the letter in April.

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August 16, 2011

View the newly posted Strategy of the Month at
This month, we highlight a recent study — funded by the U.S. Environmental Protection Agency — that examines how housing type and location influence household energy consumption. Some of the key findings include:

  • Housing location and type have a major impact on household energy consumption;
  • Households residing in multifamily homes located near public transit consume substantially less energy than households in low-density, auto-dependant developments; and
  • While energy-efficient features in homes and cars are effective in reducing energy use, they are not as significant as housing location and type.

Learn more about this important new study and its findings here.

If you have green and/or affordable housing strategies or resources you'd like to share, please email us at, call us at 1-800-245-2691 (option 4), or visit our website at

Feel free to forward this message to friends and colleagues with an interest in sustainable communities.
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August 10, 2011

Cityscape Directs its Attention to Rental Housing Policy

August 10, 2011 

Cityscape Directs its Attention to Rental Housing Policy

A new issue of Cityscape features a symposium that examines rental housing policy in the United States from a variety of forward-looking perspectives. Collectively, guest editors Vicki Been and Ingrid Gould Ellen note, the articles attest to why rental housing is important and why a strong rental housing market is vital to the economy.

Edward Glaeser argues that rental housing is environmentally sustainable and that federal incentives could encourage localities to make land use regulations friendlier to multifamily rental housing. Richard Green suggests that federal rental subsidies might be fairer in an environment of federal benefits for homeowners and local zoning restrictions that are not especially friendly to renters. Denise DiPasquale revisits federal housing policy in light of market risks to homeowners and renters, seeing an opportunity to move towards an unbiased national housing policy in terms of owning and renting. Todd Sinai provides a framework for evaluating and weighing the risks of renting or owning and suggests policies that would mitigate the risks of renting, such as encouraging lengthier term leases. Brendan O’Flaherty makes a case for policy that provides a safety net for renters experiencing financial hardship and offers low-income housing assistance that rewards good neighborhood choices. John Quigley explores the rationale for and the means of delivering renter assistance programs, suggesting how they might be reframed and financed. Invited to complement the symposium with their work, Rob Collinson provides a nuanced picture of housing trends and needs using data on rental housing market dynamics at national and metropolitan levels and Hugo Priemus offers a perspective on rental housing policy in the U.S. and the Netherlands.

The issue also features research by Ronald Wilson, “Visualizing Racial Segregation Differently—Exploring Changing Patterns from the Effect of Underlying Geographic Distributions”; by Brian Mikelbank and Charlie Post, “Separating the Good From the Bad From the Ugly: Indicators for Housing Market Analysis”; and by Michael Hollar, “Regulatory Impact Analysis: Emergency Homeowners’ Loan Program.”


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August 08, 2011

Important Changes to FHA Communication Options:

The Federal Housing Administration’s Single Family program area is announcing changes to our primary electronic mail address as well as the internet site of our FHA Frequently Asked Question (FAQ) site.  In 2006, FHA created the FHA Resource Center in order to help ensure prompt, accurate, and consistent responses to all inquiries.  The FHA Resource Center acts as the first line of response for the majority of industry and public inquiries.  FHA believes that the FHA Resource Center allows members of the industry and the general public to quickly obtain the information they need while improving the consistency and accuracy of the information FHA provides.  The email address and FAQ site are integral parts of the FHA Resource Center and FHA is anxious to spread the coming changes to our internal and external partners.

Due to an internal system change we are now able to provide a more appropriate and easier to remember email address and FAQ site address for our clients.  The address changes outlined below go into effect on Monday, August 15.  They will not be operational prior to that date and should not be utilized prior to August 15, 2011. Both the existing FAQ site and email address will provide referral notifications regarding the new addresses, but clients should begin utilizing these new addresses exclusively on August 15, 2011. 

The new address information is:

·        Primary email address will change from: to:
·        Site address for the FHA FAQ site will change from:  to:
Please note that there is no change to the primary FHA Resource Center telephone number which remains 1-800-CALLFHA (225-5342)


Mortgage and Foreclosure Fraud Awareness Workshop in Ontario CA:

August 27, 2011 – Ontario CA. Mortgage and Foreclosure Fraud Awareness Workshop Saturday, 8:30am-12:30pm, Ontario Police Department Community Room 2500 S. Archibald Avenue, Ontario California. CA The Fair Housing Lending Center is hosting a Mortgage and Foreclosure Fraud Awareness Workshop. Learn how to keep your home and protect yourself from fraud. The workshops will be both in English and Spanish. The workshop will also include the following topics: Impact of Foreclosure Fraud, Foreclosure 101, Reverse Mortgage Fraud & Other Fraud Against Seniors, Foreclosure Prevention by Neighborhood Partnerships. Don’t miss the date and RSVP as soon as possible by calling (909) 902-9606.


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August 05, 2011


HUD Public Affairs
(202) 708-0980
Treasury Public Affairs
(202) 622-2960

August 5, 2011
Report Includes Spotlight on Recovery in the Riverside, CA Housing Market

WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the July edition of the Obama Administration's Housing Scorecard - a comprehensive report on the nation's housing market. The latest housing data offer continued mixed signals as home prices improved slightly but showed continued strain from foreclosures and distressed homes. Also, as more homeowners secure mortgage relief, fewer borrowers entered the foreclosure pipeline in June. The full report is available online at

"This month's housing data paint a mixed picture of conditions in the market - despite growing evidence of progress in the broader economy," said HUD Assistant Secretary Raphael Bostic. "We're continuing to see a slight improvement in home prices and a decline in mortgage defaults as our foreclosure prevention programs reach more borrowers upstream in the process. But we have much more work to do to help the market recover and to reach the many households there and across the nation who still face trouble."

"Tens of thousands of additional homeowners are getting real relief from the Administration's programs every month," said Treasury Assistant Secretary for Financial Stability Tim Massad. "These programs are setting standards across the industry that are yielding more sustainable assistance for homeowners in the face of the worst housing crisis in a generation."

The July Housing Scorecard features key data on the health of the housing market and the impact of the Administration's foreclosure prevention programs, including:

  • Fewer homeowners fell behind on their mortgages during the month of June. In June, 4.4 percent of prime mortgages were at least 30 days late - a significant decline from the peak of 5.9 percent seen in 2010. Moreover, seriously delinquent prime mortgages - those at least 90 days late or in foreclosure - remained approximately 22 percent below a high of 1.9 million recorded last year. As new delinquencies decrease across the nation, the number of new homeowners seeking assistance through the Administration's programs may also decrease.

  • The Administration's recovery efforts have helped millions of families deal with the worst economic crisis since the Great Depression. Nearly 5 million modification arrangements were started between April 2009 and the end of May 2011.This includes more than 1.6 million HAMP trial modification starts, more than 938,000 FHA loss mitigation and early delinquency interventions, and nearly 2.4 million HOPE Now proprietary modifications, reflecting the reach of standards developed in the Administration's programs. While some homeowners may have received help from more than one program, the total number of agreements offered continues to more than double the number of foreclosure completions for the same period (2.1 million). In June, nearly 32,000 additional homeowners received a permanent modification through the Administration's Home Affordable Modification Program (HAMP); more than 760,000 homeowners across the country have received a HAMP permanent modification to date with a median payment reduction of 37 percent.

  • Even as new delinquencies continue to fall, eligible homeowners entering HAMP have a high likelihood of earning a permanent modification and realizing long-term success. The rate of modifications moving from trial to permanent is up to 74 percent, and the average time to convert from a trial to permanent modification is down to 3.5 months. Homeowners in HAMP modifications continue to perform well over time, with re-default rates lower than those on industry modifications. At one year, more than 84 percent of homeowners remain in their HAMP permanent modification. View the June HAMP Servicer Performance Report.

Also featured is the bi-monthly Housing Scorecard Regional Spotlight reporting on market strength in Riverside, CA and surrounding communities. The Riverside metropolitan statistical area (MSA) was among the nation's hardest hit areas following the housing market downturn and a region where the Administration's broad approach to stabilizing the housing market has been very active.

"Our Regional Spotlight shows that after years of rapidly rising home prices fueled in part by widely available - but ultimately unsustainable - adjustable rate mortgages, Riverside neighborhoods suffered a steep drop in property values and many severely underwater mortgages," added Bostic. "However, we also show how the Administration's approach to stabilizing the housing market has been a source of real help to local families - helping more than 131,000 homeowners to avoid foreclosure."

The Housing Scorecard Regional Spotlight features data on the health of the Riverside housing market and impact of efforts to help homeowners at the local level including:

  • The Administration's mortgage assistance programs have helped tens of thousands of Riverside families avoid foreclosure. Through May 2011, approximately 131,000 mortgage assistance interventions have been offered to homeowners in the Riverside metropolitan area, including more than 75,500 interventions offered through HAMP and FHA loss mitigation and early delinquency intervention programs. An estimated 56,000 additional proprietary modifications have been offered through Hope Now Alliance servicers. While some homeowners may have received help from more than one program, the number of times assistance has been offered in the Riverside MSA is two-thirds higher than the number of foreclosures completed during this period (80,000).

  • Riverside homeowners are starting to see relief after struggling with some of the highest levels of mortgage delinquency and foreclosure in the nation. The share of area mortgages 90 or more days delinquent dropped from 17 percent to 12 percent over the past year - an improvement over the national decline of 1 percent over the same period. Completed foreclosures also declined from 9,400 in the first quarter of 2010 to 7,600 in the first quarter of 2011, although lender process reviews continue to affect foreclosure completions locally and nationally. However, many homeowners and loans remain at risk as nearly half of all mortgages in the Riverside area (47 percent) are in negative equity - more than twice the national rate (23 percent).

  • The Administration's Hardest Hit Fund and Neighborhood Stabilization Programs have fueled local foreclosure prevention efforts and market stability. California has received nearly $2 billion through the Hardest Hit Fund to implement local solutions to borrower mortgage defaults and address the range of factors that contribute to a family's financial problems. Moreover, approximately $191 million has been awarded to sixteen jurisdictions through the Neighborhood Stabilization Program to help purchase or redevelop residential properties and address the effects of abandoned and foreclosed housing. Both programs have helped provide stability to the Riverside housing market.
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August 02, 2011

AMCs/Reasonable and Customary Fees/Turnaround Time

AMCs/Reasonable and Customary Fees/Turnaround Time


What is a

reasonable and

customary fee?

FHA believes that the marketplace best determines what is reasonable and

customary in terms of fees. The fee is result of a business decision, which

may or may not be negotiated, between the appraiser and the client. FHA

does not set fees or determine whether a fee is reasonable and customary.

Lenders are expected to know what is reasonable and customary in the areas

in which they lend and are expected to ensure that the fees paid by consumers

for both the appraisal and the management of the appraisal process are

reasonable and customary.

What if the

AMC assigns

the appraisal

based on the

lowest bidder

for the service?

The lender must

determine whether an appraiser’s qualifications, as evidenced

by education, training and actual field experience, are sufficient to enable the

appraiser to competently perform appraisals before assigning an appraisal to

them. Even if the lender employs an AMC to manage the appraisal process,

FHA holds the lender responsible, equally with the appraiser, for the quality and

accuracy of the appraisal. If an appraiser chooses to be a low bidder on an

assignment, he or she is not relieved of the obligation to produce a credible and

accurate report.

Is “reasonable

and customary”

for any given

market an



Given that a reasonable and customary fee depends on the complexity of the

assignment and the expertise needed to perform and report a credible and

accurate appraisal of the property, the fee will vary depending upon the

property type, the purpose of the assignment and the scope of work and,

therefore, cannot be easily defined as an objective number.

What will FHA

do if there is a

great disparity

between the fee

the appraiser

reports and the

fee on the


Appraisers have the option of reporting the fee on the appraisal but are not

required to do so. The disclosure of the fee promotes transparency and FHA

believes that borrowers and other parties should be aware of the fee paid for

the appraisal. Consistent with RESPA guidelines, lenders are not required to

break out or itemize appraisal related fees on the HUD-1.

Where do I

complain when

a lender wants

to pay less than

what is

reasonable and

The lender is responsible for ensuring that all FHA policies are followed and

therefore has the responsibility to ensure that appraisers are paid a reasonable

and customary fee. An appraiser who feels that the fee offered or paid for the

appraisal is not reasonable and customary should file notice with the lender.

Appraisers should not accept an assignment if they believe that the terms of





the appraisal service being requested, including fees, are not reasonable.

Where do I

complain if the

AMC asks for

an unethical or


fee or service?

FHA has no authority to regulate AMC’s. If an AMC requests an appraiser to

violate USPAP or act in an unethical manner, the appraiser should refuse the

assignment and notify the lender. The appraiser should also contact the

appropriate state authority where the property is located to determine if the

state has regulatory authority over AMCS.

What do I do if

the lender or

AMC requires

a quick


time on



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April 08, 2011

The following HUD/FHA Information Resources will be available during a government shutdown:

This is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at: Servicing lenders can visit HUD's National Servicing Center at: This list does not provide HudHome property listings.
Frequently Asked Questions for FHA Clients during a Government Shutdown:
The following HUD/FHA Information Resources will be available during a government shutdown:
· HUD/FHA Resource Center: (800) 225-5342
· HUD/FHA National Servicing Center: (877) 622-8525
· HUD’s primary internet site:  (but will not be updated)
· The Resource Center FAQ site:
HUD/FHA staff will not be available to respond to case specific questions.  All questions that cannot be answered by contract staff at the Resource Center and the NSC will be deferred until the government re-opens.
Please be aware that HUD Staff will not be available to process incoming mail during a government shutdown so business partners should suspend shipment of documents and approval packages during the term of the shutdown.  The following are examples of such documents:  Submission of FHA Test Cases, HRAP condominium approval packages, NAID requests, etc.  
1.   Origination:
Q: Will the government shutdown affect the processing or closing of FHA-insured loans?
A: The shutdown may delay the processing or closing of an FHA-insured loan dependent upon where the loan is in the process.  As noted below, FHA will not endorse closed loans or be able to provide case specific underwriting support.  All FHA underwriting and processing requirements remain in force during the government shutdown and no loan may proceed that cannot fulfill those requirements.
Q: Will Lenders have access to FHA Connection?
A: Lenders will be able to access FHA Connection, however FHA Connection interfaces to other systems may not be available, or if available these other systems may not be fully supported so FHA Connection processes may not be fully functional. At this time we do not have complete information on the potential impact on some FHA Connection functionality. Below questions and answers reflect our best effort at defining what will be available.
Q: Can a lender obtain a new FHA case number?
A: Yes. Lenders will be able to obtain a FHA case number from the FHA Connection.  Please note that all FHA underwriting and processing requirements do remain in force on loans originated during the government shutdown regardless of system limitations during the shut down period..
Q: Will Credit Alert Interactive Voice Response System (CAIVRS) be available?
A: CAIVRS access may not be available to determine if a borrower has a delinquent federal debt so that verification process may not occur when requesting a case number.
Q: Will FHA TOTAL Scorecard be available for lenders?
A: Yes. FHA TOTAL Scorecard will be available within systems.  As noted above,  all FHA underwriting and processing requirements do remain in force on loans originated during the government shutdown.
Q: Will lenders be able to get password resets for FHA Connection?
A: Lenders will be able to continue to utilize the automated password reset options on FHA Connection, but resets that require FHA employee direct assistance will not be available.
Q: Will FHA insure any loans during the government shutdown and does this also impact lenders with Lender Insurance (LI) approval?
A: No.  FHA loans will not be endorsed during the government shutdown period.  This also includes FHA and Lender Insurance authority as FHA systems will not be enabled to process LI approvals during a government shutdown.
Q: Can a lender submit loans for approval if the lender is in test case status?
A: No. FHA staff will not be available to underwrite and approve loans.
Q: Can lenders submit packages for condo approvals?
A: DELRAP approvals can continue to be processed, but HRAPS cannot be processed and should not be submitted for processing during the government shutdown.
2.   Servicing:
Q: Will lenders be able to submit FHA Mortgage Insurance Premiums during a government shutdown?
·      Upfront Premiums –Lenders will be able to submit UFMIP for approximately 10 days (specific end date will be forthcoming).
·      Monthly Premiums - Yes. Lenders are required to submit monthly MIPs during the shutdown.
Q: Can lenders file a claim and convey a property if there is a government shutdown?
A: Yes. Lenders can file a claim and convey a property. The properties will be assigned to an Asset Manager and listed for sale. Claims will be paid.
Q: Can lenders submit extension and variance requests through the EVARS System?
A: Yes.  Lenders will be able to continue to submit extension or variance requests through EVARS.  However, FHA staff will not be available to process requests on forward mortgages.  Requests will remain in the system until the government reopens.  Please do not submit duplicate requests.
Please note that responses to the following email boxes will not be provided until the government re-opens:        
3.   REO/HUD Home Sales:
Q: Will I be able to place a bid on a HUD-owned property via the HUD Home Bid site during the shutdown?
A: Yes. FHA contractors will handle the sale of HUD Homes and the bidding site at:  will be available and maintained during the shutdown.
Q: Who can I notify about a health or safety issues on a HUD-owned property?
A:The staff at the FHA Resource Center can provide contact information for contractors responsible for the maintenance of HUD-owned properties.
Q: Will HUD Broker Name Address Identifier (NAIDs) applications be processed?
A: No. Name Address Identifier applications will not be processed during the government shutdown.
4.   Lender Approval/Monitoring:
Q: Will FHA’s partners be able to submit routine compliance reporting to FHA-managed systems?
A: No, in most cases.  Due to limited system availability, electronic compliance reporting will be suspended for some programs.  Once reporting systems are back online, FHA will require all partners to submit compliance data for the shutdown period retroactively.
Q: Can lenders submit applications to become an FHA approved lender?
A: No. FHA will be unable to accept lender applications during the government shutdown. 
Q: Will FHA recertify a lender’s request to renew their FHA approval?
A:No. FHA will not recertify any lenders status as an FHA approved lender during the government shutdown.
Q: Will lenders be able to submit audited financial statements to the Lender Assessment Subsystem (LASS)?
A:No. LASS will not be available during a government shutdown.
5.   Housing Counseling:
Q: Will the Housing Counseling System (HCS) be available to HUD-approved agencies


A: The Housing Counseling System (HCS) will not be available.  Consequently, counseling agencies will be unable to update agency profile information, submit activity data, or otherwise utilize the functionality in HCS.  Once HCS back online, FHA will require all counseling agencies to submit activity data for the shutdown period retroactively.


Q: Will clients be able to utilize Housing Counseling search engines? 


A: The HUD.GOV counseling agency search site and toll-free search option will be available during the shutdown.  However, no updates to the underlying data will be available until the government resumes normal operations.
Q: Will HUD-approved agencies be able to access HUD grant funds through the LOCCS System?
A: While the LOCCS system should be functioning, there will be no HUD staff available to approve requests for disbursements.  Consequently, no grant disbursements will occur during a shut down.
Q: Can counselors continue to take on-line courses through EClass?
A: Yes.  This web-based loss mitigation training program will be available for use.  However, non-FHA approved Housing Counseling Agencies cannot receive approval to access EClass until the government reopens.
Bulk subscriptions:
            Some industry folks have asked, "How do I sign up my entire staff for FHA email updates?" It is easy... Just list your staff email addresses like this:
You can send in one email address or thousands. Email your list to:
If you have a mortgage or real estate industry friend who you want to subscribe to the national hoc reference guide mailing list, there are 3 other ways to sign up: 1. send them this link: they can sign up for the email list there; or 2: forward them this email; or 3: Visit: and subscribe at:  To unsubscribe - go to:  and click on "National Homeownership Center Reference Guide" and follow the unsubscribe instructions on that page.
For FHA technical support, please contact the FHA Resource Center at:  Search our online knowledge base & find answers to our most commonly asked questions. You can also get email technical support at:  or phone FHA toll-free between 8:00 a.m. & 8:00 p.m. ET (5:00 a.m. to 5:00 p.m. PT) at: (800) CALLFHA or (800) 225-5342. Call FHA TDD at: (877) TDD-2HUD (877) 833-2483).
FHA publications at HudClips:  Order hardcopies at:
FHA forms:
FHA Homeownership Centers:
Events & Training Calendar:
Contracting Opportunities:
Career opportunities:
Grant opportunities:
Presidentially Declared Disaster Areas:
Foreclosure Assistance:
Making Home Affordable:
This listserv does not provide HudHome property listings. To see the latest list of all HudHomes nationwide please visit:
This list will often provide training opportunities and event announcements for non-profit and local government HUD partners. HUD does not endorse the organizations sponsoring linked websites, and we do not endorse the views they express or the products/services they or their community/business partners offer. For more information on HUD’s web policies please visit:
Thank you!!!!
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February 03, 2011

From: American Housing Survey (AHS)

From: American Housing Survey (AHS) ListServ <>




I am starting to accept proposals for the Data Shop article to be included in the November 2011 of HUD's journal, Cityscape. If you have done any crunchy data analysis recently and would like to share your experience with others who share a taste for such fare, please send me a short abstract by March 22nd. I will make my decision in early April and expect a draft by the beginning of June.


For a formal description of what Data Shop is all about, see


Feel free to share this invitation to anyone in the universe who you might think would want to contribute.


Dav Vandenbroucke
Senior Economist
U.S. Dept. HUD


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April 01, 2010

Understanding First-Time Homelessness

Costs Associated with First-Time Homelessness for Families and Individuals HUD's Office of Policy Development and Research has released three important studies on homelessness in the United States: examining the cost of first-time homelessness, life after transitional housing for homeless families, and strategies for improving access to mainstream benefits and services. Taken together, the findings of these studies have significant policy implications as HUD seeks to understand the most effective and efficient ways of addressing homelessness among individuals and families.

Strategies for Improving People's Access to Mainstream Benefits and ServicesHUD's cost study is the most comprehensive research on the price tag associated with first-time homelessness and creates a foundation for comparing the costs of various homeless interventions. Costs Associated with First-Time Homelessness for Families and Individuals examines how much it costs to house and serve nearly 9,000 individuals and families in six areas of the country — Des Moines, Iowa; Houston, Texas; Jacksonville, Florida; Washington, DC; Houston, Texas; Kalamazoo, Michigan; and a large area of upstate South Carolina. Two additional studies have also been released: Strategies for Improving People's Access to Mainstream Benefits and Services and Life after Transitional Housing for Homeless Families.

Life after Transitional Housing for Homeless FamiliesThe first study documents how seven different communities (Albany/Albany Co., NY; Albuquerque, NM; Metropolitan Denver; Miami-Dade Co., FL; Norfolk, VA; Portland, ME; and Pittsburgh/Allegheny Co., PA) mobilized to improve homeless people's access to mainstream benefits and services. The second study followed 195 families in transitional housing programs across five communities (Cleveland/Cuyahoga County, Ohio; Detroit, Michigan; Houston and Harris and Benton Counties, Texas; San Diego City and County, California; and Seattle/King County, Washington) for 3, 6, and 12 months after leaving the program in an effort to document the impacts of participation in a transitional housing program. The study looks at housing status, employment and education outcomes associated with the service-intensive transitional housing programs for families with children.

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February 01, 2010

New FHA Mortgagee Letter:

This is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at: Servicing lenders can visit HUD's National Servicing Center at: This list does not provide HudHome property listings.



New FHA Mortgagee Letter:











SUBJECT: Announcement of the FHA Nonprofit Data Management System



The Department of Housing and Urban Development is pleased to announce the Federal Housing Administration's (FHA) newly developed Nonprofit Data Management System (NPDMS). NPDMS is an automated web-based program management tool designed to improve the application, recertification, and reporting process for organizations that participate in the Office of Single Family Housing (OSFH) activities and to assist HUD staff with the daily administration of FHA’s Nonprofit Program activities…



To read this mortgagee letters and any attachments in their entirety, please visit: view the 2010 letters and click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.






HUD-FHA has new career opportunities for qualified individuals.  Recently posted online are the positions of:


Senior Single Family Housing Specialist (QAD) Vacancy announcement F10-DE-314793-2CL (Denver, CO)


Underwriter, Vacancy announcement F10-DE-314612-2CL (Denver, CO)


Appraiser (Single Family), Vacancy announcement F10-DE-314365-2TT (Orange County, CA)




The Vacancy Announcements are posted at  Please visit that website to view the announcements, additional information and to search for additional new HUD job listings.  HUD-FHA also has job opportunities in other locations around the nation.  Please bookmark and revisit  frequently to see the new jobs as they appear online. Application forms can be found at:




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January 19, 2010

Dynamics of the Current Rental Housing Market
HUD Publication CoverpageThe national rental vacancy rate during the second quarter of 2009 was up from both the previous quarter and the same quarter in 2008. However, changes in vacancy rates varied regionally from a marginal annual decline in the Seattle-Bellevue-Everett metropolitan statistical area (MSA) to a noteworthy yearly increase in the Phoenix-Mesa-Scottsdale MSA.
A new working paper, "U.S. Rental Housing Characteristics: Supply, Vacancy, and Affordability," reports these findings as part of its overview of the current rental housing market dynamics, in relation to supply, local conditions, the national assisted rental housing stock, and both need and demand for affordable rental housing. Trends in rental housing characteristics over time are also noted.

Key Findings:

  • The national rental vacancy rate was 10.6 percent in the second quarter of 2009, up from both the previous quarter and the same quarter in 2008.
  • In 2008, regional vacancy rates ranged from 4.5 to 18.3 percent.
  • From 20062008, Section 8 vacancy rates varied marginally and did not exceed 5%; public housing vacancies fell 2%.
  • Low-income housing tax credit developments represented approximately half of all newly constructed multifamily units since 2000.
  • From 20012007, the stock of affordable unassisted rentals dropped 6.3%; high-rent units increased 94.3%.
  • Renter households spending at least 50% of their incomes on housing increased from 8.3 million in 2007 to 8.7 million in 2008.
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August 11, 2009

Fha Appraiser-Appraisal

This is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at: Servicing lenders can visit HUD's National Servicing Center at: This list does not provide HudHome property listings.
All-Fha Appraiser-Appraisal




On August 4, 2009, The Federal Housing Administration (FHA) suspended Taylor, Bean and Whitaker Mortgage Corporation (TBW) of Ocala, Florida, thereby preventing the Company from originating and underwriting new FHA-insured mortgages. The Government National Mortgage Association (Ginnie Mae) is also defaulting and terminating TBW as an issuer in its Mortgage-Backed Securities (MBS) program and is ending TBW's ability to continue to service Ginnie Mae securities. This means that, effective immediately, TBW will not be able to issue Ginnie Mae securities, and Ginnie Mae will take control of TBW's nearly $25 billion Ginnie Mae portfolio…


To read this press release in its entirety, please visit:


FHA-insured Loans Associated with Taylor, Bean and Whitaker (TBW) Questions and Answers for Consumers can be found at:


FHA-insured Loans Associated with Taylor, Bean and Whitaker (TBW) Questions and Answers for Lenders and Brokers can be found at:


If you have any questions, please contact:  or visit:




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From: American Housing Survey (AHS) ListServ <>

A new report, “Streamlining the American Housing Survey,” is available for download on the HUD USER web site, .
Since 1973, the HUD and the Census Bureau have teamed to produce the American Housing Survey (AHS).  The recently released 2007 AHS is the 22nd report on the characteristics and condition of the national housing stock; on the costs of housing, including the financing of owner-occupied housing; and on the households who occupy the stock.  Data from the AHS allow researchers and policy analysts, both inside and outside the government, to document housing problems and to evaluate the operation of the housing market and of policies designed to improve housing.
The national AHS collects information from over 50,000 households every two years using an instrument that often takes over an hour to administer.  The public data files contain thousands of fields.  The size of the sample and the length of the questionnaire make the AHS an expensive survey.  The length of the questionnaire and the AHS’s longitudinal design—the same housing units are surveyed every two years—impose significant burdens on respondents.  As the AHS’s sponsor, HUD feels obligated to ensure that the information produced justifies the costs and burdens.  
For this reason, HUD requested Econometrica, Inc., to assess the analytical usefulness of the AHS’s content.  Specifically, HUD asked the authors to:
Examine the AHS instrument and data set to identify data elements that have some or all of these characteristics:
·        They have very little variation in value, either cross-sectionally or longitudinally.
·        They exhibit unreasonable year-to-year changes for the same household or housing unit.
·        They are used by few researchers, and those uses are not of notable scientific or policy importance.
The goal is to streamline the AHS “by eliminating or modifying content that is currently of marginal usefulness.”  Streamlining would reduce the cost to the government and, more important, would lessen the burden imposed on the public.  Streamlining also could create opportunities to add new and more policy-important content to the AHS.


The contractor’s recommendations fall into three classes.  First, they identify a number of variables that HUD and the Census Bureau should consider eliminating from the AHS.  Second, they identify two groups of variables—those associated with the financing of owner-occupied housing and with the identification of assisted housing—that definitely merit the cost and burden of collecting the information, but that also have well-recognized problems that HUD and the Census Bureau need to solve. Third, they discuss variables related to the use and costs of utilities, a group that may need further improvement and perhaps some trimming.
Dav Vandenbroucke
Senior Economist
U.S. Dept. HUD
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July 27, 2009

Hud Appraiser, HUD Appraisal

From: HUD USER News
  Hud Appraiser, HUD Appraisal
HUD USER has posted a Comprehensive Housing Market
Analysis report for the Chattanooga, Tennessee-Georgia
housing market area (HMA). Coterminous with the
Chattanooga, Tennessee-Georgia Metropolitan Statistical
area, the HMA contains Hamilton, Marion, and Sequatchie
Counties in southern Tennessee and Catoosa, Dade, and
Walker Counties in northwest Georgia.
The regional economy is largely based on the government,
trade, manufacturing, and the education and health
services sectors. Nonfarm employment has been slow,
increasing at 0.4 percent a year since 2000. A new $1
billion Volkswagen Group of America, Inc. assembly plant,
however, scheduled to be completed in 2011, is expected
to increase employment in this sector by an average of
1.5 percent annually between January 1, 2009 and January
1, 2012.
Housing sales in the HMA are currently weak, with an
excess inventory of unsold homes. During 2008, the median
price of a new home fell by 9 percent (from $145,200 to
$131,900), while the median sales price of an existing
home increased by 5 percent (from $130,000 to $136,600).
Rentals are also weak, with a vacancy rate of 8 percent.
Compiled by field economists in HUD's Office of Policy
Development and Research, this report presents economic,
demographic, and housing inventory data that are useful
in foreseeing changes in the housing market. Our analysis
describes the Chattanooga, Tennessee-Georgia HMA from
1990 to 2000 and from 2000 through 2008, and projects
anticipated market activity during the three-year period
from January 1, 2009 to January 1, 2012.
As with previous CHMA reports examining housing market
areas across the nation, this analysis is available
and can be downloaded at no cost. 
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