ano - Appraiser News Online | Appraisal Institute

May 22, 2019

Regulatory Reforms In Place by Year-end: Federal Reserve

Banking agencies expect to implement regulatory reforms from S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, by years-end, Randal Quarles, Federal Reserve vice chairman for supervision, told the House Financial Services Committee May 16, ABA Banking Journal reported. One reform still unresolved: an appraisal exemption for some rural transactions.

May 22, 2019

Oregon Laws Address Statutes of Limitations, Evaluations

Oregon Gov. Kate Brown signed two pieces of legislation affecting the valuation profession. On May 13, she signed HB 3218, which updates the state’s existing statute of limitations on civil suits against real estate appraisers, and on May 20, she signed SB 109, which allows state-licensed and state-certified appraisers to provide evaluations to financial institutions.

May 22, 2019

Opportunity Zone Activity Expected to Jump; Raising Money to Get Easier: JLL

The Treasury Department last month released guidance on Opportunity Zones, which real estate firm JLL believes will make it easier for money managers to raise funds and for developers to start construction, MBA NewsLink reported May 16. JLL said it expects commercial real estate investors will wait until year’s end in order to maximize tax benefits.

May 22, 2019

WeWork Parent Company to Launch a $2.9 Billion Global CRE Investment Fund

The parent company of co-working firm WeWork is creating a $2.9 billion commercial real estate investment fund to underwrite projects worldwide, Inman reported May 15. The Ark fund will enable the We Company to purchase property for various WeWork office space, including the former Lord & Taylor flagship on Fifth Avenue in New York City.

May 22, 2019

Demand for Modular Commercial Construction Grows: Data

The use of modular construction in commercial buildings has doubled during the past five years, and the $8 billion business is expected to see increased demand from contractors working in the healthcare, industrial, education and multifamily sectors, according to the U.S. Chamber of Commerce Commercial Construction Index, National Real Estate Investor reported May 15.

May 22, 2019

Single-family and Multifamily Housing to Remain ‘Robust’ for Next Decade: Report

Demand for housing — both single-family and multifamily properties — will remain “robust” for the next decade, according to a Commercial Real Estate Finance Council markets report, Mortgage Media reported May 15. The report noted that new household formations are outpacing new unit supply.

May 22, 2019

Midyear Economic Outlook Good; Strong Home Sales Through December: NAR

The economic outlook for the second half of 2019 is expected to be strong, with continued economic expansion, rising home sales and increased wage growth that’s on par with home price growth, the National Association of Realtors reported May 16.

May 22, 2019

Builder Expects Tight Supply as Millennials Buy First Homes

Members of the millennial generation are expected to begin buying their first homes during the next decade, as nearly 45 million of them reach the general age of first-time homebuyers, according to homebuilder Taylor Morrison Home, CNBC reported May 16. However, supply could be an issue without enough housing in aggregate.

May 22, 2019

Foreclosure Activity Drops for 10 Consecutive Months; Florida Still Hurting: Report

Residential foreclosure filings dropped in April, falling 5% below March levels and 13% below levels of one year ago, analytics firm ATTOM Data Solutions reported May 17. However, foreclosure activity has increased in Florida for eight consecutive months — up 34% over the past year.

May 22, 2019

Weekly Mortgage Applications Decrease in New Survey: Mortgage Bankers Association

Mortgage applications during the past week decreased 0.6% from one week earlier, the Mortgage Bankers Association reported May 15 in its Weekly Mortgage Applications Survey. Despite the slight decline, purchase applications were 7% higher than a year ago.