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Sep 02, 2015

Austin Sues Texas over ‘Unfair’ Appraisal System

A lawsuit filed Aug. 24 against the state of Texas by the city of Austin alleges the state’s property appraisal system unfairly enforces an imbalance in the tax burdens between residential and commercial property owners, and that the appraised values of commercial property don’t match market prices, the Texas Tribune reported.

 

Sep 02, 2015

BofA Settles Appraiser Overtime Lawsuit

Bank of America’s appraisal subsidiary, LandSafe Appraisal Services, agreed to pay $36 million to settle a lawsuit alleging the misclassification of 365 current and former appraisers as exempt from overtime when they actually were eligible, the San Francisco Chronicle reported Aug. 27. The employees will each receive $60,000 to $65,000.

 
Sep 02, 2015

Fannie: Economic Growth Slows in Second Quarter

Economic growth was slower than expected in the second quarter, as a strong dollar, reduced oil prices and a drop in nonresidential investment stymied growth, Fannie Mae’s Economic & Strategic Research Group reported Aug. 24. The group sees some improvement in the housing sector, with lean inventories and home sales trending up.

 

Sep 02, 2015

Market Turmoil Makes Rate Hike ‘Less Compelling’

A Federal Reserve interest rate hike this month seems less likely to happen due to recent market uncertainty, according to New York Fed President William Dudley, Reuters reported Aug. 26. He said the prospect of a rate hike "seems less compelling" now than it did only weeks ago.

 
Sep 02, 2015

HUD Changes Order of FHA Liens

The U.S. Department of Housing and Urban Development announced Aug. 24 that it will require liens created by energy retrofit programs to remain subordinate to loans guaranteed by the Federal Housing Administration, HousingWire reported.

 

Sep 02, 2015

Mortgage Rates Drop on Global Economic Concerns

Worldwide economic volatility during the past week caused average fixed mortgage rates to drop to their lowest levels since May, Freddie Mac reported Aug. 27 in its Primary Mortgage Market Survey.

 
Sep 02, 2015

Report: Single-family Renters More Likely to Become Buyers

Consumers renting single-family properties (homes; townhouses; condos) appear more likely to become buyers than those renting apartments, according to an Aug. 25 Freddie Mac report. Additionally, the report noted that happy renters are more likely to stay renters, even amid rising rents.

 

Sep 02, 2015

Housing Surge Could Break US Record

Housing demand is expected to surge over the next 10 years as millions of Hispanics, Baby Boomers and Millennials are expected to form households, the Mortgage Bankers Association noted in an Aug. 25 report. The next decade could be one of the strongest for housing in U.S. history.

 
Sep 02, 2015

Report: Cap Rate Compression Continues, Slows

A very competitive commercial real estate market led to further cap rate compression during the first half of the year, but the rate of compression has slowed, which signals that the market is close to reaching price stabilization, according to real estate firm CBRE, MBA NewsLink reported Aug. 27.

 

Sep 02, 2015

Report: CRE Prices Steadily Rising

Commercial real estate property prices continue to rise, led by office and apartment properties, according to real estate data firm CoStar, MBA NewsLink reported Aug. 27. The Northeast is a standout region, with multifamily, retail and industrial properties there reaching new highs.

 
Results: 12 Articles found.

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