ano - Appraiser News Online

Jan 20, 2021

GSEs Extend Flexibilities for Appraisals, Employment Verification

The Federal Housing Finance Agency announced Jan. 14 that Fannie Mae and Freddie Mac will extend their flexibilities pertaining to both property appraisals and employment verification through Feb 28. The flexibilities were initially put in place in March 2020 and extended throughout last year in an effort to facilitate liquidity in the mortgage marketplace during the coronavirus outbreak.

Jan 20, 2021

Essential Worker Status May Help Appraisers Get Early Vaccination

The Appraisal Institute on Jan. 20 advised its professionals to check with state and local government agencies where they reside to see if the real estate valuation profession falls into an essential workforce category that will give them early access to a COVID-19 vaccine.

Jan 20, 2021

SBA Re-opens Paycheck Protection Program for New and Some Current Borrowers

The Small Business Administration, in consultation with the Department of the Treasury, on Jan. 11 re-opened the Paycheck Protection Program for new borrowers and select current ones. The latest round of funding authorizes up to $284 billion for small business owners to aid in job retention for their employees and to assist with other expenses.

Jan 20, 2021

COVID-19 Vaccine to Facilitate CRE Recovery in Third Quarter, Report Predicts

The commercial real estate sector overall should begin to rebound during the third quarter as the COVID-19 vaccine allows more workers to return to physical buildings, but only a few office markets will see improvement this year, according to a report from commercial real estate firm Integra Realty Resources, Commercial Property Executive reported Jan. 11.

Jan 20, 2021

Multifamily Sector Remains Favorable for Most Markets: Report

Multifamily housing was one of the most stable sectors last year, and it’s expected to remain healthy in 2021, with most markets seeing steady rents and rent collection, according to commercial brokerage firm Marcus & Millichap, WealthManagement reported Jan. 12. However, the outlook for “gateway” cities like New York and San Francisco is less positive, and rents are expected to fall further.

Jan 20, 2021

CRE Property Values Dropped in 2020, but not as Much as Anticipated: Green Street

The value of all commercial real estate dropped 8% last year, a better outcome than what was expected, analytics firm Green Street noted in its Commercial Property Price Index released Jan. 7. Annual values increased the most for the industrial sector and manufactured home parks, which were up about 10% for the year.

Jan 20, 2021

Hospitality Sector Sees Recovery Setback Amid Coronavirus Resurgence: STR

The recent coronavirus surge has delayed an expected recovery in the hospitality sector, but performance should start improving during the second quarter as the vaccination rollout continues, according to hospitality analytics firm STR, MBA NewsLink reported Jan. 11. A full post-coronavirus recovery isn’t expected until 2024.

Jan 20, 2021

Residential Activity Strong, CRE Struggles: Fed Beige Book

Residential real estate activity remained strong in many fed districts even as home prices increased due to inventory shortages, but commercial activity still struggled amid weak conditions, according to the latest Beige Book released Jan. 13 by the Federal Reserve.

Jan 20, 2021

Housing Market Performance Remains Positive on Historically-low Rates: Freddie Mac

The average 30-year fixed-rate mortgage is expected to remain below 3% for all of 2021, allowing the housing market to remain strong, according to Freddie Mac’s Quarterly Forecast released Jan. 14. Homes prices are expected to grow 5.4% this year, and sales likely will reach 6.5 million and then drop to 6.2 million in 2022.

Jan 20, 2021

Median Home Price Rises 13% in December, Sales Grow by 16%, Redfin Reports

The median price for U.S. homes in December rose 13% year-over-year to $334,300, and the number of closed sales rose 16%, with low mortgage rates boosting momentum in what typically is one of the slowest months of the year, online real estate firm Redfin reported Jan. 14.