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Daren Blomquist

VP, Market Economics at Auction.com

Professional Background

Daren Blomquist is a seasoned expert in the realm of real estate data analysis and market economics. With a career dedicated to mining real estate data for insight and trends, Daren utilizes his extensive knowledge and expertise to empower both businesses and consumers to make informed decisions in the ever-evolving real estate landscape. He currently serves as the Vice President of Market Economics at Auction.com, where he leads initiatives that help illuminate market dynamics and facilitate strategic planning for real estate investment and transactions.

Previously, Daren held pivotal roles at ATTOM Data Solutions, where he was instrumental in shaping data communications as the Senior Vice President of Communications. His leadership at ATTOM did not stop there; he also served as Vice President, contributing significantly to the company's overall strategic vision and operational success. Daren's early career involved foundational roles at RealtyTrac, where he rose from a Customer Service Representative to Director of Marketing Communications, consistently showcasing his ability to connect data with consumer needs.

Education and Achievements

Daren Blomquist earned his Bachelor of Arts in English Communications from Trinity International University. This educational background in communications has equipped him with the skills to articulate complex real estate data insights in a way that is accessible and engaging to a diverse audience.

Throughout his career, Daren has demonstrated exceptional leadership and a deep understanding of the interplay between data, market trends, and real estate dynamics. His commitment to furthering transparency in real estate data is evident in his various roles where he has consistently aimed to provide clarity and actionable insights to stakeholders. Daren’s professional journey is a testament to his dedication to the field and its continual evolution.

Notable Achievements

Daren Blomquist has made significant contributions to the field of real estate data analytics. His work has not only helped businesses optimize their operations but has also provided consumers with essential insights that enhance their decision-making processes. As a trusted voice in the industry, Daren has provided valuable commentary on real estate trends, data analysis, and market forecasts, making him a sought-after expert in various media outlets.

His participation in conferences and seminars further underscores his role as a thought leader in the real estate data sector. Daren's insights have informed best practices at all levels of real estate investment, from individual homeowners to large-scale institutional investors. With his extensive knowledge and experience, Daren Blomquist continues to pave the way for a clearer understanding of real estate data, guiding both businesses and individuals towards more informed and strategic real estate decisions.

Highlights

Jul 18 · linkedin

Auction.com mortgage servicing clients ranked "hidden" homeownership costs of rising insurance and property taxes as the biggest risk for rising delinquencies in the near term. I wrote about that in my latest column for Scotsman Guide.

Supporting this view of our clients (who also believe there is little overall risk of an imminent spike in delinquencies), some of the major markets with the highest levels of foreclosure starts relative to 2019 levels (according to data from ATTOM) have been in states with rapidly rising insurance costs (according to data from S&P Global). Markets like Houston, Texas (135% of average 2019 monthly level in May); Baton Rouge, Louisiana (108% of 2019 levels in May); Cape Coral-Fort Myers, Florida (160% of 2019 levels in May); and Riverside-San Bernardino, California (93% of 2019 levels in May). See heat map below.

These correlations do not necessarily mean causation, and there are certainly other markets with rising foreclosure starts outside of these states, but a trend to keep an eye on.

Article: https://lnkd.in/gR_9AKMR

Heat map: https://lnkd.in/g6eSKCju

S&P Global report: https://lnkd.in/g_r45TKV

Jul 12 · linkedin

Recently released data from the Federal Housing Finance Agency's National Mortgage Database shows a record-high debt-to-income ratio of 41.4% across all loan types in Q3 2023, the most recent data available.

Average DTI ratios were at record highs for jumbo loans (46.4%) and government-insured loans (45.3%), but conventional loans backed by the government sponsored enterprises (GSEs) of Fannie Mae and Freddie Mac had an average DTI ratio of 38.5%, still below the record-high of 40.4% in Q4 2007 despite ramping up quite a bit in the last four years.

I'm guessing my cockeyed optimist friends out there will dismiss this as nothing to fret about thanks to the massive amounts of home equity that these borrowers have, and I'm guessing my Debbie Downer friends out there will latch on to it as evidence of a coming storm. To be fair these are two caricatures; most of my friends are more nuanced than this :)

But in any case, what do you think?

Related Questions

How did Daren Blomquist develop his expertise in real estate data and market economics?
What specific methodologies does Daren Blomquist employ to uncover key insights in real estate data?
In what ways has Daren's education at Trinity International University influenced his career in communications and data analytics?
How does Daren Blomquist foresee the future of real estate data analytics impacting consumer behavior?
What are some of the notable projects Daren has led at Auction.com that have made a significant impact in the real estate sector?
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Location

Irvine, California, United States