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Home | Tag Archives: Pro Teck

Tag Archives: Pro Teck

Pro Teck Unveils Appraisal Desktop with Inspection

Pro Teck Valuation Services introduced Appraisal Desktop with Inspection (ADI), a new hybrid appraisal product for home equity and second mortgage lending. As a USPAP-compliant desktop appraisal platform, ADI was designed to fill the gap between an automated valuation model with property condition report and a field appraisal.

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ProTek Explains Why Certain Markets Are Unresponsive to Low Rates

While the trend of low mortgage rates seen in the last year has stirred up housing activity and helped the market, Pro Teck Valuation Services posits a major question in its latest Home Value Forecast (HVF): Why have home prices in some markets been less responsive to low rates? The writers of the report named three dominant reasons. First, they note that credit scores for many households took a hit during and after the crisis as a result of loan modifications, foreclosures, and job losses, ""and the breadth of the impact has been sufficient to affect millions of households who now much become or are already renters.""

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Report: Why High-Priced Homes Are Leaders in the Recovery

Historically, higher-priced homes are a leading indicator of the real estate market and tend to lead the market during times of recovery, according to the Home Value Forecast (HVF) report jointly released by Pro Teck Valuation Services and Collateral Analytics. The companies assessed price changes in the Bay Area and around Los Angeles and found the high-end markets showed stronger price growth compared to lower-priced areas. The HVF report also included a list of the 10 best and worst performing metros for February based on factors such as sales/listing activity and prices, months of remaining inventory (MRI), days on market (DOM), sold-to-list price ratio, and foreclosure and REO activity.

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Pro Teck Ranks 10 Best Performing Metros

Pro Teck's ranking measures inventory, days on market, sales and listing activity, the ratio of sales price to list price, and foreclosures and REOs to determine the best- and worst-performing markets in the nation. January's top 10 list includes a mix of markets from all regions across the country, and ""even those in the Bottom 10 list are showing a fair percentage of positive trends,"" said Michael Sklarz, principal of collateral analytics at Pro Teck. Austin-Round Rock-San Marcos, Texas ranked as the No. 1 market in the country and was one of two Texas markets to make the top 10 list this month.

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Report: Role of Consumer Confidence in Building Recovery’s Momentum

The recovery in home sales and prices is taking shape, but will it further solidify, even in the hardest hit markets? Pro Teck Valuation Services and Collateral Analytics say they think the recovery will continue in hard-hit markets such as Sacramento, Phoenix, Las Vegas, and Riverside-San Bernardino ""because prices are still lower than fundamental market drivers"" such as employment. The report also discussed the role of consumer sentiment in the residential market and explained how expectations can reinforce trends and build momentum.

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HUD Provides Details for Next Distressed Asset Sale

HUD's next sale as part of the Distressed Asset Stabilization Program (DASP) will include even more loans. The agency announced it will put out about 10,000-15,000 loans in its next sale, which will take place in the first quarter of 2013. The most recent sale in September included about 9,000 loans.

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Improving the Appraisal Process to Minimize Risks: Report

Appraisals may assign a home with one exact specific value, but in reality, a home's value tends to fall into a price range due to a number of different factors, according to a Home Value Forecast report released by Pro Teck Valuation Services and Collateral Analytics. To address this issue, Home Value Forecast suggests establishing a range of value in addition to an appraisal and improving data to support market condition conclusions.

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