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The Appraisal Institute announced April 20 that four executives from TIAA-CREF will participate in a July 26 panel session at the 2016 Appraisal Institute Annual Conference in Charlotte, North Carolina.
Officials in New Orleans have ordered an appraisal of the abandoned Six Flags New Orleans, a theme park that never reopened after being ravaged by Hurricane Katrina in 2005, The Times-Picayune reported April 12. The 227-acre park is the city’s largest lingering piece of post-hurricane blight.
Nearly half the major markets surveyed by commercial real estate services firm CBRE reported tighter availability of retail space during the first quarter, the firm reported April 8. The brightest spots are neighborhood, community and strip retail centers.
The vacancy rate for the nation’s office market increased slightly during the first quarter, but it remains at its lowest level since 2008, according to a report released April 16 by commercial real estate services firm CBRE.
Apartment vacancy rates during the first quarter increased for the third consecutive quarter, and asking and effective rents also rose during the same period, according to analytics firm Reis, MBA NewsLink reported April 13. The firm noted that it expects the trend to continue for five more years.
Foreclosures during the first quarter were down 4 percent from the fourth quarter 2015 and 8 percent from the same period one year ago, analytics firm RealtyTrac reported April 14 in its newest Foreclosure Market Report. Foreclosures are at their lowest level since the fourth quarter 2006.
Average fixed mortgage rates declined slightly during the past week and reached a new low for the year, Freddie Mac reported April 14 in its Primary Mortgage Market Survey.
The Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation reported April 13 that it deemed as "not credible" the mandated living wills of Bank of America, Bank of New York Mellon, JPMorgan Chase, State Street and Wells Fargo, HousingWire reported.
Homebuying across the country expanded in the first quarter, with several Fed districts reporting that a mild winter contributed to increased home sales, the Federal Reserve reported April 13 in its newest Beige Book. Activity in the commercial sector also increased across most districts.
Documents unsealed April 11 in a lawsuit filed by Fannie Mae and Freddie Mac shareholders against the federal government challenged the argument that the government-sponsored enterprises’ profits were funneled to the Treasury as a way to protect taxpayers, The New York Times reported.
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