Beyond the Buildings

The real estate market is one of the largest asset classes in the world. So, when economics shift in the sector, the larger economy feels the ripple effects. Recently, interest rates have been the highest in decades, home prices have seen the lowest recorded rise since 2019 and nearly 60% of homes sold below list price in March 2023. However, zooming out and looking at the bigger picture reveals that some of these trends shouldn’t be as surprising as they seem, and, maybe, they were even predictable.

In this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to discuss what is really happening in the housing market and what that means for first-time homebuyers, repeat homebuyers, investors and banks.

Up Next: Listen to Molly Boesel talk about myths in the housing market on Core Conversations.

In This Episode:

• 2:04 – Has the market slowdown been as bad as economists predicted?
• 5:35 – Interest rates, inflation and home prices: how intertwined is that relationship?
• 7:22 – Get the numbers in the housing market. Erika Stanley hosts The Sip.
• 9:25 – 30-year, fixed-rate mortgages vs adjustable rate mortgages. What is your best bet?
• 13:37 – How closely are people tracking interest rates? Is it worth doing so?

In Part 2 of this episode, host Maiclaire Bolton-Smith continues the conversation with CoreLogic’s Senior Catastrophe Response Manager Jon Schneyer to explore the ongoing impact of Hurricane Ian on Florida’s insurance and reinsurance industries.

In this installment, the two will talk about what the CoreLogic team actually saw when they went to southwestern Florida to observe the hurricane damage and how this helps improve models that can better secure the future of homeowners and insurers that increasingly face natural hazard events due to climate change.

In This Episode:

• 0:57 – Does storm surge, wind or flood account for the majority of uninsured loss from Hurricane Ian?
• 3:43 – How does damage from Hurricane Ian compare to other historic storms?
• 4:55 – CoreLogic went on a reconnaissance mission to southwestern Florida to survey the damage.
• 8:52 – How did the team’s observations feed into estimated loss valuation models?
• 11:06 – What can we anticipate for the 2023 hurricane season?

In Part 1 of this episode, host Maiclaire Bolton-Smith sits down with CoreLogic's Senior Catastrophe Response Manager Jon Schneyer to discuss the aftermath of Hurricane Ian’s impact on the Florida coast six months later. The catastrophe impacted a state where the insurance market was already stressed, and now the government, homeowners and insurers are working to reorient themselves and build a stable environment in an area that increasingly faces natural hazard events due to climate change.

Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

• 2:47 – Meet Erika Stanley, our new Facts Guru
• 3:30 – So why was Hurricane Ian so devastating?
• 5:26 – Let’s talk about the Florida insurance landscape and how Hurricane Ian will affect things
• 7:00 – How has the Florida Legislature worked to help the insurance industry recover?
• 10:20 – The Sip: The numbers you need to know in the property market
• 11:25 – Will Hurricane Ian make waves in the reinsurance market?
• 13:34 – Will this storm affect the National Flood Insurance Program (NFIP)?

In Part 2 of this episode, host Maiclaire Bolton-Smith continues the conversation with Kent David, a senior leader in analytics consulting, and Tom Larsen, an expert in catastrophe risk management and insurance solutions, to talk about the atmospheric rivers, bomb cyclones and snow that have made headlines and again put California’s natural hazard risks in the spotlight.

Get insights into the state’s wildfire risk, the consequences on reservoir capacity and the future impacts of the current snowpack while also learning a few choice colloquialisms from our guests.

Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

In This Episode:

2:02 – It snowed in California – a lot. But what happens when that snow melts?

5:55 – How much reservoir capacity is available in California to absorb the snowpack?

8:15 – Meteorologists modeled a dry winter. What happened?

10:37 – Do these winter storms change California’s wildfire risk?

12:44 – Katy, bar the door! Climate change will change flood insurance.

19:39 – Visit us in New Orleans, Louisiana!

20:15 – Mitigation is only the first step to becoming resilient.

The Golden State has endured months of inundations from atmospheric rivers and bomb cyclones. As a result, the news is awash with images of submerged streets and mudslides, replacing our collective imagination of California as a state perennially filled with sunny beaches and golden hills. But not everyone in the state has had the same experience with this weird weather.

In Part 1 of this episode, host Maiclaire Bolton-Smith sits down with Kent David, a senior leader in analytics consulting, and Tom Larsen, an expert in catastrophe risk management and insurance solutions, to discuss what it has really been like to live through the continuous rain that has made headlines in California since these atmospheric rivers began at the start of the year.

Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

In this episode:

• 1:31 – Come see us in New Orleans, LA!
• 3:27 – Maiclaire, Kent and Tom discuss whether they’ve experienced this amount of rain before
• 6:13 – How did these three Californians weather the storms?
• 11:01 – Katia hosts The Sip, summarizing the important numbers in the property market
• 12:54 – What was the flooding like north of the Bay Area?
• 13:36 – What is going to happen when the snowpack melts?

In Part 2 of this episode, host Maiclaire Bolton Smith continues the conversation with CoreLogic’s director of Insurance Market Strategy for Hazard and Risk Management about how insurers will need to access big data to effectively translate homeowner wildfire mitigation efforts into insurance discounts.

Catch up on Part 1 here.

Find full episodes with these guests in our podcast archive here: https://clgx.co/3zqhBZt

• 1:21 – what exactly is the difference between a risk score and a CAT model?
• 3:15 – A brief primer on rate filings
• 3:41 – How do homeowners benefit from wildfire risk scores in their policies?
• 8:46 – What is the cost of providing transparency to homeowners?
• 9:43 – How can we be more resilient to natural hazards?

No one wants 430% increases in wildfire insurance premiums and quotes of up to $20,000 per year. So, why are California homeowners dealing with these prices?

In Part 1 of this episode, host Maiclaire Bolton Smith talks to Paul Brown, CoreLogic's director of Insurance Market Strategy for Hazard and Risk Management about legislative changes from the California Department of Insurance and how insurers will need to access big data to effectively translate homeowner wildfire mitigation efforts into insurance discounts.

Find full episodes with these guests in our podcast archive here: https://clgx.co/3zqhBZt

In this episode:

• 1:39 – Who is Paul?
• 2:17 – Where to grab your limited-edition wildfire socks
• 3:26 – Why did California decide this was the year to change how insurance premiums were set?
• 5:13 – What do these changes mean for homeowners?
• 7:25 – Katia hosts The Sip, summarizing the important numbers in the property market
• 8:56 – The $15 million-dollar question: How does wildfire mitigation translate to insurance discounts?
• 11:35 – Quantifying mitigation strategies requires Big Data

In Part 2 of this episode, host Maiclaire Bolton Smith continues the conversation with CoreLogic’s real estate tech solutions expert Mark Weaver to discuss what the market tipping point for the success of iBuyers will be and how much people will be willing to pay for the sake of convenience.

Find full episodes in our podcast archive here: https://clgx.co/3zqhBZt

In this episode:

3:57 – What is the balance between convenience and profit?

6:00 – What is one single "point" so important? Hint: It’s a convenient insurance policy

7:52 – Who pays the convenience fee? The buyer or the seller?

9:13 – Will the iBuyer market bounce back?

11:02 – Optimize your business and meet us at MBA in Orlando

11:19 – How will major PropTech technologies evolve over the next couple of years?

In part one of this episode, host Maiclaire Bolton Smith sits down again with CoreLogic’s real estate tech solutions expert Mark Weaver to chat about how rising interest rates and a slowdown in buyer interest resulted in the once-red-hot iBuying and power buying segment being abruptly confronted with an environment designed to stress-test their business models.

Find full episodes with these guests in our podcast archive here: https://clgx.co/3zqhBZt

In this episode:

0:52 - Meet Katia, the newest team member of Core Conversations

2:06 - Mark is back to introduce himself

3:09 - How is the current market testing the iBuying model?

4:30 - What is the future of iBuying?

6:26 - What is iBuying anyways?

7:07 - Maiclaire talks about her iBuying experience

8:36 - Mark explains how iBuyers are pivoting their business models

10:45 - Katia takes a coffee break to do the numbers in the market

12:00 - What are the current opportunities for iBuyers?

13:22 - Designing a buy-box

Most of us don’t have enough money in the bank to buy a house in cash. We need to convince someone to lend us the money. Listen to host Maiclaire Bolton Smith talk to CoreLogic Chief Appraiser Shawn Telford and learn about how banks are leveraging PropTech to determine the worth of a home, as well as the consequences that innovation has on markets, loans and affordability.

Learn more about how technology is transforming the property industry by following along with CoreLogic analysis: https://clgx.co/3zqhBZt

In this episode:

1:17 – Who is Shawn and how did he end up in real estate?

3:19 – How did 2022 market conditions create challenges (and opportunities) in appraising?

5:03 – How will home price growth and inflation affect the future of appraising?

8:00 – How do you compare home values in a volatile market?

11:35 – Appraising staff shortages make room for remote desktop appraisals

13:26 – Are appraisal waivers here to stay?

16:16 – How was the pandemic a catalyst and a lingering influence for digitization?

18:39 – What do digital opportunities mean for the development of the appraisal industry?

22:01 – What is coming up for lenders, appraisers and homeowners?