Appraisal Institute News | Appraisal Institute

Jul 17, 2019 12:30 PM

Federal Agencies Exempt Community Banks From Volcker Rule

A final rule exempting community banks (those with consolidated assets less than $10 billion) from the Volcker Rule was adopted July 9 and jointly announced by the Federal Reserve Board, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Securities and Exchange Commission.

Jul 17, 2019 12:30 PM

'iBuyer' Service Alters Selling Process, Cuts Some Requirements

A new partnership between real estate brokerage Redfin and homebuying service Opendoor will purchase properties directly from homeowners who list with Redfin, MarketWatch reported July 14. Sellers who accept the iBuyer offer avoid having to make pre-sale repairs and can skip some closing procedures — including, potentially, the appraisal — but risk receiving less than market value.

Jul 17, 2019 12:30 PM

Single-tenant Net Lease Cap Rates Drop Across Sectors, The Boulder Group Reports

Single-tenant net lease cap rates during the second quarter declined in the retail, office and industrial sectors, according to real estate firm The Boulder Group, MBA NewsLink reported July 11. New construction 7-Eleven properties — considered resistant to both recession and e-commerce challenges — showed the highest cap rate compression, dropping 12 basis points.

Jul 10, 2019 12:30 PM

Energy Sector Caused Office Market Downturn; Houston Showing Improvement: JLL Report

The 2019 energy outlook report released July 1 by commercial real estate firm JLL indicated that the office sector in North American energy markets like Houston are still feeling the effects of the 2014-17 oil downturn, but the situation is improving, Commercial Property Executive reported. In Houston, the vacancy rate marks a 140 basis-point decline from its mid-2018 peak figure.

Jul 10, 2019 12:30 PM

ASC OKs North Dakota Request for Temporary Appraisal Waiver

The Appraisal Subcommittee on July 9 approved a request from North Dakota for a temporary waiver from appraisal licensing requirements, declaring a scarcity of appraisers. The ASC granted the one-year waiver from licensing requirements by a 5-2 vote; an additional year is possible if state officials again seek a waiver based on the scarcity argument.

Jul 10, 2019 12:30 PM

Economic Expansion Hits 10-year Mark but Slowing Noted: Fed

The continuing American economic expansion has become the longest in history after hitting the 10-year mark on July 1, bringing unemployment to a 50-year low and dropping inflation to negligible levels, according to Federal Reserve policymakers, HousingWire reported July 3. However, the benefits from recent tax cuts are showing signs of wearing off, and GDP is expected to slow.

Jul 09, 2019 08:00 AM

Valuing Timeshares Requires Special Care: The Appraisal Journal

Special care must be taken to understand the timeshare interest and the competitive market in which that interest would sell, according to an article published this week in The Appraisal Journal that explores key issues facing appraisers when valuing timeshares.

Jul 02, 2019 08:00 AM

Appraisers Expect Shift in Hospitality Market: Valuation Magazine

The nation’s hospitality sector has enjoyed a decade-long hot streak, but is a correction on the way? Appraisers discuss what’s happening in this challenging market in Valuation magazine’s second quarter 2019 issue.

Jun 19, 2019 12:30 PM

FHFA Director to Congress: End Fannie, Freddie Conservatorship

Fannie Mae and Freddie Mac should be returned to private hands, and doing so could reduce taxpayer risk, promote competition and support homeownership, Federal Housing Finance Agency Director Mark Calabria stated June 11 in a letter accompanying his annual report to Congress, Bloomberg reported. Calabria said the housing finance system needs to be more sustainable.

Jun 19, 2019 12:30 PM

Freddie Mac Introduces CMBS Program Backed by Green Bonds

Freddie Mac on June 10 unveiled a commercial mortgage-backed security program backed by loans made to apartment building owners who perform sustainable property improvements, Bloomberg reported. The green bond will exclusively securitize loans made through Freddie’s Green Advantage program.