Appraisal Now

Wall Street Journal | Distressed office buildings are selling at dramatic discounts—some over 90% off peak values—as owners and lenders finally accept losses. Buyers are converting properties into apartments, urban farms, and other uses made viable only by rock-bottom prices.

Los Angeles Times | Tenants are buying their own LA office buildings at steep discounts as the market bottoms out. Capital Group, Riot Games, and LADWP are among those capitalizing on values that have dropped sharply since the pandemic.

AM870 | Stewart Valuation Intelligence has acquired Nationwide Appraisal Network, a 22-year-old appraisal management company, to expand its scale, talent, and market presence within its Real Estate Solutions segment.

CBRE.com | The Middle East conflict has sent oil prices swinging between $70 to $115 per barrel. CBRE warns that higher energy costs could push up capitalization rates, especially in Europe, which is more import-dependent than the United States. Investors are urged toward longer leases and defensive sectors like multifamily.

KSTP.com | St. Paul's top office towers lost an average of 16.5% in value this year, with a third of spaces empty. The shrinking commercial tax base threatens to shift costs onto residents, though city leaders see early signs of recovery and are actively investing in downtown revitalization.

Wall Street Journal | Fannie Mae will now back mortgages that let buyers pledge crypto instead of making a cash down payment, via a new product from Better and Coinbase. The move could mainstream crypto-backed mortgages, appealing to buyers who don't want to sell holdings or trigger capital-gains taxes.

My Northwest | Downtown Seattle's empty offices have cost its top skyscrapers $3.7 billion in value since 2022, with Amazon buildings hit hardest. Vacancy rates near 27%—far above the national average—are shifting the tax burden to residents and small businesses.

Fortune | A Florida CEO used ChatGPT to sell his home for $954,800—which was $100,000 above agent estimates—letting AI handle pricing, marketing, and negotiating. He believes the approach is accessible to anyone, though human lawyers and open houses were still needed.

Barron’s | AI tools are reshaping home buying and selling, with 82% of surveyed adults using them for real estate insights. They help narrow searches and estimate costs but can produce wrong or biased answers—often telling buyers and sellers exactly what they want to hear.

Bankrate.com | HOA fees are rising fast, acting like a "shadow mortgage"—unpredictable, unavoidable, and potentially leading to foreclosure. Median fees hit $135 per month, with special assessments adding thousands more, squeezing homeowners and reducing buyers' purchasing power.

The Wall Street Journal | Service tenants—gyms, spas, and salons—now lease more retail space than goods-based stores for the first time, driven by booming wellness culture and e-commerce shrinking demand for physical retail. Fitness alone accounts for nearly 30% of service leases.