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Aug 05, 2020 12:30 PM

Federal Reserve Extends Lending Facilities Until Year-end

The Federal Reserve will extend several of its lending facilities through the end of the year due to concerns about how quickly the U.S. economy will recover from the coronavirus pandemic, Reuters reported July 28. The extensions were set to expire Sept. 30, but the Fed wants to maintain credit availability for businesses and consumers.

 
Aug 05, 2020 12:30 PM

Investors See New Risk in Net-lease Properties, Expect Cap Rates to Rise: Poll

Commercial real estate investors anticipate net-lease properties to become generally riskier and expect cap rates to rise because of the ongoing coronavirus pandemic, according to a poll from brokerage firm The Boulder Group, CoStar reported July 23. Forty-three percent of respondents think cap rates could rise up to 19 basis points, while 37% said they may go even higher.

 
Jul 30, 2020 01:32 PM

Upzoning Can Impact Appraisals, Places Emphasis on Highest and Best Use Analysis: Valuation Magazine

Many cities see upzoning as an effective way to expand affordable housing, but zoning changes can impact appraisals, so appraisers need to analyze the highest and best use of the property and land, according to an article in Valuation magazine’s second quarter 2020 issue.

 
Jul 29, 2020 12:30 PM

Commercial Appraisal Data Standards Released for Comment

The Mortgage Industry Standards Maintenance Organization, known as MISMO, on July 24 released for comment its proposed commercial appraisal data standards. The standards are intended to facilitate the exchange of commercial appraisal information, which is critical for underwriting and loss mitigation, between multiple industry participants. Comments are due Sept. 21.

 
Jul 29, 2020 12:30 PM

Economic Recovery Ending, Another Slowdown Expected: JLL

The U.S. economy expanded in May and June, but by some measures it already is slowing down, according to data released July 20 by real estate firm JLL. Advance retail sales rose 7.5% between May and June, and industrial production jumped 5.4% during the same period, but consumer sentiment declined in July over fears of increasing COVID-19 cases.

 
Jul 29, 2020 12:30 PM

Office Net Absorption in Q2 Sees Largest Decline in 11 Years: Cushman & Wakefield

Office net absorption during the second quarter turned negative, falling from 5.2 million square feet during the first quarter to negative 22.8 million square feet during the second quarter, real estate firm Cushman & Wakefield reported July 23 in its U.S. Office MarketBeat report. The report noted that it was the largest quarterly decline since the Great Recession.

 
Jul 21, 2020 12:30 PM

AI Urges Swift Passage of Appraisal Portal Legislation

The Appraisal Institute on July 9 sent a letter to Reps. David Kustoff, R-Tenn., and Ed Perlmutter, D-Colo., urging swift passage of HR 7688, the Portal for Appraisal Licensing Act of 2020. The legislation would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a portal for appraisal credentialing and appraisal management company registration information.

 
Jul 21, 2020 12:30 PM

Federal Reserve Expects Recession Despite Initial Optimism

Following initial optimism that the COVID-19 slump would be over after the second quarter, Fed policymakers are now preparing for a longer recession due to high unemployment and increased risk of corporate bankruptcies, Forbes reported July 14. A greater chance for a second wave of infections also is contributing to the Fed’s new stance.

 
Jul 21, 2020 12:30 PM

Big Banks Have Set Aside $28 Billion to Cover Pandemic-related Losses, Data Shows

JPMorgan Chase, Citigroup and Wells Fargo have so far collectively set aside $28 billion to cover an expected wave of consumer and business loan defaults, Morningstar reported July 15. The banks increased the amount they had previously set aside due to growing concerns about the length and severity of the coronavirus pandemic.

 
Jul 21, 2020 09:57 AM

Appraisal Institute Urges Swift Passage of Appraisal Portal Legislation

The nation’s largest professional association of real estate appraisers this month sent a letter urging swift passage of the Portal for Appraisal Licensing Act of 2020 in the 116th Congress, which would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a portal for appraisal credentialing and AMC registration information, and for other purposes.

 
Jul 14, 2020 12:30 PM

Net Lease Cap Rates Vary During Q2: The Boulder Group

Net lease cap rates increased for the retail sector during the second quarter, but held steady for the office sector and dropped for the industrial sector, according to commercial real estate firm The Boulder Group, MBA NewsLink reported July 2. The firm reported that higher cap rates are anticipated in most sectors by the end of the year.

 
Jul 14, 2020 12:30 PM

Legislation Extends Paycheck Protection Program Deadline

President Trump on July 4 signed legislation extending the deadline to Aug. 8 for small businesses to apply for assistance from the Paycheck Protection Program, National Public Radio reported. The fund has $130 billion remaining after $520 billion in loans was provided to nearly five million businesses.​

 
Jul 14, 2020 12:30 PM

Expert Says "Exodus" of Central Business Districts to Continue, But Rebound Expected

The residential “exodus” from city centers, led by millennials, is expected to last 18-24 months, the president and CEO of real estate advisory firm Marcus & Millichap told CNBC July 7. The demand for commercial space in the suburbs has also increased, but central business districts appear to be on a three-year recovery track.

 
Jul 14, 2020 08:00 AM

Golf Course HOAs Should Carefully Consider Financial Security Options: The Appraisal Journal

Homeowners associations should carefully consider all available methods for maintaining value in golf course communities, according to an article published this week in The Appraisal Journal.

 
Jul 08, 2020 12:30 PM

Data Confirms Q2 CRE Downturn Due to Coronavirus

Commercial real estate executives confirmed a downturn in market conditions during the second quarter because of COVID-19-related job losses and business shutdowns, according to The Real Estate Roundtable’s 2020 Q2 Economic Sentiment Index released June 30. The index showed an expectation that the market will improve by next year, dependent on jobs and business data.

 

COVID-19, Economy Top Real Estate Concerns: Report

The COVID-19 pandemic, economic renewal and capital market risk are among the biggest concerns affecting the real estate industry through next year, according to the Counselors of Real Estate, which released its list of the top 10 issues on June 25. Also on the list: public and private debt and affordable housing.

 
Jul 08, 2020 12:30 PM

Millions of Properties at Greater Flood Risk Than Previously Estimated, Data Reveals

The number of U.S. properties in danger of flooding this year is 70% higher than government data suggests, according to a study released June 29 by the nonprofit research group First Street Foundation. The data shows around 14.6 million properties are at risk of flooding, compared with Federal Emergency Management Agency data showing 8.7 million properties at risk.

 
Jun 24, 2020 12:30 PM

Economy and Housing are Recovering: Freddie Mac

An increase in homebuyer demand and a decrease in mortgage rates is expected to propel the housing sector forward this year, but the overall outlook is still uncertain due to concerns about the coronavirus and the nation’s fiscal policies, Freddie Mac reported June 16 in its Quarterly Forecast. Improvements in home price growth, sales and loan originations are expected next year.

 
Jun 24, 2020 12:30 PM

CFOs Target More Real Estate Cuts This Year: Survey

Real estate expenses likely will be further reduced during the second half of the year because remote working appears to be here to stay, according to a survey of chief financial officers conducted by research firm Gartner, Forbes reported June 15. Real estate budgets already have been cut about 8% this year, and an additional 8% is anticipated.

 
Jun 24, 2020 12:30 AM

SBA Releases 2 New PPP Loan Forgiveness Applications for Qualified Borrowers

The U.S. Small Business Administration and the Department of the Treasury on June 17 issued two new Paycheck Protection Program loan forgiveness applications, a full version and an EZ version that requires less documentation for borrowers who meet certain conditions. Both versions give borrowers the option of using the original eight-week covered period or the extended 24-week period.

 
Jun 17, 2020 12:30 PM

Federal Reserve Plans to Keep Buying Assets and Hold Benchmark Rate Steady Until 2023

The Federal Reserve said it plans to continue purchasing Treasuries and mortgage-backed securities at its current weekly pace of around $22 billion in order to stimulate the economy, MarketWatch reported June 10. The Fed also said that it expects to maintain its benchmark interest rate until 2023.

 
Jun 17, 2020 12:30 PM

States Could See Double-digit Property Value Drops: Report

Alaska, Nevada, New Mexico, Oklahoma and Wyoming likely will be hardest-hit due to the coronavirus pandemic and could see double-digit drops in commercial property valuations, according to a report from data firm Reonomy, National Real Estate Investor reported June 8. The economies in those states are heavily dependent on the struggling travel, entertainment or energy sectors.

 

FHFA Extends Appraisal Loan Processing Flexibilities

The Federal Housing Finance Agency announced June 11 that it is extending until at least July 31 several loan origination flexibilities offered by Fannie Mae and Freddie Mac to assist borrowers during the ongoing COVID-19 pandemic. Alternative appraisals on purchase and rate term refinance loans are among the extended items.

 
Jun 16, 2020 08:00 AM

Homeowners Can Help Appraisers During COVID-19 Pandemic, Appraisal Institute Says

Despite the coronavirus and safety considerations, homeowners can still work with appraisers to help provide a full picture of their property, the nation’s largest professional association of real estate appraisers said today.

 
Jun 10, 2020 12:30 PM

7.4M Properties at Risk to Summer Storm Surge: CoreLogic

More than 7 million single-family homes and 250,000 multifamily residences along the Atlantic Seaboard and the Gulf Coast are at risk for storm damage this year, according to the Storm Surge Report from analytics firm CoreLogic, MBA NewsLink reported June 3. The reconstruction cost value could top $1.7 trillion for single-family homes and $95 billion for multifamily properties.

 
Jun 10, 2020 12:30 PM

US Economy Expected to Begin Recovery in Q3: ABA Forecast

The U.S. economy is expected to drop about 6% this year, but will start to recover in the third quarter, according to a forecast released by the American Bankers Association on May 29. Predicting a recovery is difficult, however, because consumers typically account for 70% of the U.S. economy, and it’s unknown when their normal activity will resume.

 
Jun 10, 2020 12:30 PM

Industrial Sector Demand Grows Due to COVID-19-related E-commerce Boost: Report

The transition from bricks-and-mortar retail to online shopping has accelerated due to the coronavirus pandemic, with e-commerce growing at an annual rate of 20% and driving demand for as much as 400 million-square-feet of new industrial space, according to real estate firm Confluent Development, National Real Estate Investor reported June 1.

 
Jun 03, 2020 12:30 PM

COVID-19 Less Damaging to CRE than Great Recession: ULI

Commercial real estate markets and property values are expected to be less affected by a COVID-19-related recession than they were by the Great Recession, with the exceptions being hospitality and retail, according an Urban Land Institute survey, GlobeSt.com reported May 26. The survey noted an expected $275 billion drop in real estate transaction volume this year.

 
Jun 03, 2020 12:30 PM

San Jose, California, to Fare Best During Pandemic: Data

San Jose, California, tops the list of U.S. cities expected to best withstand the effects of the coronavirus, according to real estate investment firm Nuveen, GlobeSt.com reported May 27. Nashville, Tennessee, and Raleigh, North Carolina, also topped the list. However, Detroit and Louisville, Kentucky, were among cities expected to fare the worst.

 
Jun 03, 2020 12:30 PM

Some CRE Sectors Were Suffering Before Coronavirus Made Things Worse: Moodys

A new report revealed that retail, office and apartment construction was down before the coronavirus pandemic made conditions even worse, according to data firm Moody’s Analytics, GlobeSt.com reported May 27. Retail construction in the first quarter was at a 20-year low, while office construction was down 85% and apartment construction was down 38%.

 
May 27, 2020 12:30 PM

Fed Warns of "Substantial Repricing" for CRE Properties

Elevated valuation pressures on commercial real estate assets and a bleak outlook for the sector could cause “substantial repricing,” according to the Federal Reserve’s Financial Stability Report released May 18, GlobeSt.com reported. CRE prices were high before the pandemic, and disruptions in the hospitality and retail sectors, in particular, have been severe.

 
May 27, 2020 12:30 PM

FHFA Rereleases Proposed Capital Rule for Fannie, Freddie

The Federal Housing Finance Agency on May 20 announced that it is seeking comments on a notice of proposed rulemaking that sets a new regulatory capital framework for Fannie Mae and Freddie Mac. The proposed rule is a re-proposal of the rulemaking previously published in July 2018, and comments are due 60 days after the rule’s publication in the Federal Register.

 
May 27, 2020 12:30 PM

Mnuchin Says US Economy to "Bottom Out" in Q2, See "Gigantic Increase" in Q4

U.S. Treasury Secretary Steven Mnuchin told attendees of an online conference May 21 that he expects the nation’s economy to “bottom out” during the second quarter, but then experience a “gigantic increase” during the fourth quarter, Reuters reported. Mnuchin noted that a lower level of activity in one quarter increases the chances for activity in other quarters.

 
May 20, 2020 08:15 PM

FHFA Gives Homeowners in Forbearance Payment Options

The Federal Housing Finance Agency announced May 13 that homeowners who are in forbearance due to the coronavirus pandemic can defer repayment of their missed monthly mortgage payments until their home is sold or refinanced or at loan maturity. Servicers will begin extending the payment deferral option July 1.

 
May 20, 2020 12:15 PM

HUD Extends Appraisal Inspection Options Until June 30

The U.S. Department of Housing and Urban Development announced May 14 that it has extended the Federal Housing Administration’s single-family exterior-only or desktop-only appraisal inspection options until June 30, enabling appraisers to limit face-to-face contact during the coronavirus pandemic. The guidance is included in Mortgagee Letter 2020-14.

 
May 20, 2020 12:15 PM

CoStar to Acquire Ten-X Digital Commercial Real Estate Platform for $190 Million

Commercial real estate analytics firm CoStar Group announced May 13 that it will acquire digital commercial real estate transaction platform Ten-X for $190 million in cash, Business Wire reported. The Ten-X platform has transacted about $7 billion in retail properties, $6 billion in office properties, $4 billion in multifamily properties and $3 billion in hotel properties.

 
May 13, 2020 12:30 PM

Hospitality Sector Might Not Recover Until End of the Year - or Later, STR Reports

The hospitality sector is not expected to rebound until at least the fourth quarter as the coronavirus has basically halted all travel, according to hospitality analytics firm STR, Commercial Property Executive reported May 4. Through April, hotel occupancy was down 62.2% year-to-date, while the average daily room rate was down 42.9% and revenue per available room was down 78.4%.

 
May 12, 2020 12:30 PM

Fannie Allows Collateral Underwriter Instead of Field Reviews

Fannie Mae on May 5 issued a Lender Letter addressing updated appraisal policies, stating that Collateral Underwriter and other third-party tools can be used in lieu of field reviews on 10% of a random sample of loans. Further, remote online notarization was made effective for all loans, depending on the state, and will remain in effect until further notice.

 
May 12, 2020 08:06 AM

Landscaping Can Have Major Impact on Property Values: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advised homeowners that improving their property’s landscaping can result in a significant return on investment when selling the home.

 
May 06, 2020 12:30 PM

ECOA Valuations Rule Updated to Address Coronavirus

Creditors have flexibility regarding when they must provide appraisals to mortgage applicants, according to an updated Q&A on the Equal Credit Opportunity Act Valuations Rule released April 29 by the Consumer Financial Protection Bureau. Under ordinary circumstance, creditors are required to provide appraisals promptly upon completion or three business days prior to consummation of a transaction.

 
May 06, 2020 12:30 PM

CFPB Issues Rule to Ease Access to Mortgage Financing

The Consumer Financial Protection Bureau on April 29 announced steps to make it easier for consumers who are facing financial emergencies due to COVID-19 to obtain mortgage financing. The bureau issued an interpretive rule to allow consumers the right to modify or waive certain required waiting periods under the TILA-RESPA Integrated Disclosure Rule and Regulation Z rescission rules.

 
May 06, 2020 12:30 PM

Removing 1 Million Homes from Flood Zones Could Save $1 Trillion: Government Report

The U.S. could save more than $1 trillion by removing a million homes from flood-prone locales and relocating residents to higher ground, according to a report from the Federal Emergency Management Agency and the U.S. Department of Housing and Urban Development, Scientific American reported April 27. The cost to buy and raze the properties is estimated at $180 billion.

 
Apr 29, 2020 12:30 PM

Credit Unions Allow Appraisals to be Delayed 4 Months

The National Credit Union Administration will allow credit unions to postpone obtaining an appraisal for up to four months after a mortgage loan closes, HousingWire reported April 23. Federal banking regulators last week established a short-term policy that allows banks to defer completed appraisals for up to 120 days.

 
Apr 29, 2020 12:30 PM

Second Round of Small Business Funding Approved

President Trump on April 24 signed the Paycheck Protection Program and Health Care Enhancement Act, bipartisan legislation that provides $320 billion in additional funding for small businesses affected by the coronavirus pandemic. The Small Business Administration started accepting applications April 27, and already has approved more than 100,000 loans.

 
Apr 29, 2020 12:30 PM

SEC Proposes Rule for the Valuation of Fund Assets, Including Real Estate Holdings

The Securities and Exchange Commission on April 21 proposed a new rule that would establish a framework for the valuation of investment fund assets, including real estate, MarketScreener reported. The Commission last comprehensively addressed valuation practices in 1970. The comment period on the proposed rule closes July 21.

 
Apr 28, 2020 08:15 AM

Appraisers Can Help Courts, IRS Navigate Conservation Easements, New Book Says

Governmental and judicial entities’ expanded oversight of the real estate appraisal process makes it imperative that those involved in valuing easement-encumbered properties demonstrate their competence to the Internal Revenue Service and the courts, according to a book published today by the Appraisal Institute under a licensing agreement with the Land Trust Alliance.

 
Apr 22, 2020 12:30 PM

Longest Economic Expansion in US History Probably Over Due to COVID-19: Fannie Mae

The coronavirus has likely ended the longest economic expansion in U.S. history, according to an April 15 report from Fannie Mae’s Economic and Strategic Research Group. As consumers shelter in place and businesses indefinitely close, two consecutive quarters of negative growth in gross domestic product are expected, which is the common definition of a recession.

 
Apr 22, 2020 12:30 PM

Small Business Loan Program Out of Money, Impasse is Preventing New Funds: Report

The Small Business Administration and the Treasury Department have exhausted the initial $349 billion earmarked for business loans as part of the Paycheck Protection Program — and political conflict has prevented allocation of further funding, The Hill reported April 16. The SBA further said that the $10 billion appropriated for Economic Injury Disaster Loans also is out of money.

 
Apr 22, 2020 12:30 PM

CRE Developers, Investors Face Trouble Closing Deals During Pandemic: Financial Firm

An increasing number of commercial real estate deals and new construction projects are delayed due to rising borrowing costs and higher loan credit standards, according to real estate financial firm NorthMarq, Bisnow reported April 12. Most deals that had financing in place before the pandemic have closed, but many transactions without financing in place are being postponed.

 
Apr 16, 2020 11:03 AM

Appraisers Must Adapt to iBuyer Models: Valuation Magazine

While the volume of home sales involving iBuyers is still fairly limited, the number of markets they reach is growing and their role in the residential real estate sector could be transformative, according to an article in Valuation magazine’s first quarter 2020 issue.

 
Apr 15, 2020 12:30 PM

AI Guide Shows Appraisal Actions Allowed Under Coronavirus

The Appraisal Institute on April 9 released “Flexibilities Guide: Permissible Appraisal Requirements During COVID-19,” which helps residential appraisers navigate a multitude of reporting format allowances and requirements issued by Fannie Mae, Freddie Mac, the Federal Housing Administration, the Department of Veterans Affairs and the Rural Housing Service. It also suggests addenda language when appraisers are reporting third-party information.

 
Apr 15, 2020 12:30 PM

Appraisal Institute to Host Coronavirus Webinar with CRE Panel

The Appraisal Institute announced that its April 17 webinar will include a panel of leading commercial real estate appraisers who will address changing market conditions under coronavirus. The webinar can help investors, developers, financiers and other stakeholders understand buyer and seller reactions to the market and will address appraisers' short/long term considerations when evaluating property at this time.

 
Apr 15, 2020 12:30 PM

GSEs Publish FAQs on Temporary Policies for Mortgage Originations, Appraisals

Fannie Mae and Freddie Mac on April 8 released frequently asked questions that provide additional guidance to lenders on temporary policies that support mortgage originations, appraisals and quality control during the coronavirus pandemic. The government-sponsored enterprises will update the document as new information is available.

 
Apr 08, 2020 12:30 PM

AI Asks FHFA to Rethink Non-GSE Appraisal Requirements

The Appraisal Institute was one of four valuation organizations that urged the Federal Housing Finance Agency on April 6 to re-evaluate its current policies on interior and exterior inspection appraisals for refinance transactions not currently held by the government-sponsored enterprises.

 
Apr 08, 2020 12:30 PM

Appraisal Institute Addresses “Flawed” and “Inaccurate” White Paper on Fee Simple

“Conceptually flawed and factually inaccurate” is how the Appraisal Institute described the International Association of Assessing Officers’ white paper, “Setting the Record Straight on Fee Simple,” in its March 31 letter to the IAAO. AI cited inaccuracies and inconsistencies involving intended use/user, fee simple definition, body of knowledge guidance and in certain terms and conclusions.

 
Apr 08, 2020 12:30 PM

SBA Promotes Programs, Initiatives to Aid Business Owners

The Small Business Administration is promoting several programs and initiatives that were included in the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act, and are intended to assist businesses, including appraisal firms, the Appraisal Institute announced April 6. Among the programs are those for paycheck protection, EIDL loan advance, express bridge loans and debt relief.​

 
Apr 07, 2020 07:53 AM

Automated Valuation Models Need More Reliability: The Appraisal Journal

Since automated valuation model vendors use varying methodologies, valuation professionals should use caution when relying on AVM data, according to an article published this week in The Appraisal Journal.​

 
Apr 01, 2020 12:30 PM

GSEs, Agencies Issue Coronavirus Guidance for Appraisers

The government-sponsored enterprises, agencies and other policymakers have all issued valuation guidance since March 23 to help clarify how appraisers can perform their work during the coronavirus pandemic, and all new guidance is available on the Appraisal Institute’s coronavirus page.

 
Apr 01, 2020 12:30 PM

AI Asks Governors, Mayors for "Stay-at-Home" Exemptions

The Appraisal Institute joined four other real estate organizations March 25 in asking state and local government leaders to include appraisers among “essential services” exempted from stay-at-home or shelter-in-place orders issued during the coronavirus pandemic.

 
Apr 01, 2020 12:30 PM

Coronavirus Like "Major Snowstorm," Not Economic Depression, Bernanke Believes

Former Federal Reserve Chairman Ben Bernanke thinks the effect of the economic slowdown caused by the coronavirus is akin to that of a “major snowstorm” rather than a depression, CNBC reported March 25. Bernanke cited the Great Depression lasting 12 years and being caused by monetary and financial problems, as opposed to a health crisis that should be short-lived.

 
Mar 26, 2020 07:56 AM

Real Estate Groups Ask Governors, Mayors for Appraisal ‘Stay at Home’ Exemptions

The nation’s largest professional association of real estate appraisers joined four other real estate organizations March 25 in asking state and local government leaders to include appraisers among “essential services” exempted from stay-at-home or shelter-in-place orders issued during the coronavirus (COVID-19) pandemic.

 
Mar 25, 2020 12:30 PM

GSEs Ease Appraisal, Employment Verification Standards

The Federal Housing Finance Agency announced March 23 that Fannie Mae and Freddie Mac will ease standards for both property appraisals and employment verification in an effort to facilitate liquidity in the mortgage marketplace during the coronavirus outbreak, HousingWire reported. Specifically, the FHFA said appraisal alternatives will be used to prevent appraisers from having to inspect a home’s interior.

 
Mar 25, 2020 12:30 PM

AI Webinar Helps Appraisers Face Coronavirus Challenges

The Appraisal Institute announced March 24 that its free 90-minute webinar covering the latest appraisal developments on the coronavirus (COVID-19) pandemic is now available on AI’s website and on its YouTube channel.

 
Mar 25, 2020 12:30 PM

FHFA Says Proposed GSE Capital Rules Delayed Until Late May Due to Coronavirus

Federal Housing Finance Agency Director Mark Calabria announced March 18 that the release of the capital proposal for Fannie Mae and Freddie Mac will be delayed until the second half of May due to the coronavirus, HousingWire reported. Calabria said the efforts to combat the spread of the virus will complicate the feedback process.

 
Mar 18, 2020 12:30 PM

AI Issues Coronavirus-related Direction for Appraisers

The Appraisal Institute issued guidance cultivated from its Professional Practice staff on March 16 to help AI professionals and other real estate valuers serve their clients during the rapidly evolving global coronavirus pandemic.

 
Mar 18, 2020 12:30 PM

Commercial Real Estate Lenders Worried About Impact of FASB Rules on Borrowers

New rules from the Financial Accounting Standards Board that took effect in January have some commercial real estate lenders concerned about operational burdens and their possible impact on borrowers, National Real Estate Investor reported March 10. The new methodology requires lenders to calculate and recognize the lifetime expected loss of the loan at origination.

 
Mar 11, 2020 12:30 PM

Buyers Overpaid $34B for Homes in Flood Plains: Research

At least 3.8 million homes in the U.S. are in flood plains and may be overvalued by $34 billion, according to research released March 2 by the National Bureau of Economic Research, Bloomberg reported. The research revealed that markets don’t incorporate risks from flooding and climate-related disasters.​

 
Mar 11, 2020 12:30 PM

Supreme Court Expected to Weaken CFPB, Not Shutter It

The Supreme Court signaled its plans to weaken the Consumer Financial Protection Bureau, but not shutter the agency created in the wake of the financial crisis, CNBC reported March 3. The court heard oral arguments in a case questioning the agency’s constitutionality and the powers of its director.

 
Mar 11, 2020 12:30 PM

Coronavirus Expected to Have Limited Impact on Most Commercial Real Estate: CBRE

Coronavirus isn’t expected to have a significant long-term effect on the commercial real estate sector, but the short-term impact likely will be focused on hospitality and retail in major cities, according to real estate firm CBRE, MBA NewsLink reported March 4. CBRE noted that effect on the office and multifamily sectors likely will be minimal.

 
Mar 10, 2020 08:00 AM

Hire an Appraiser to Help Choose Home Renovations: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged homeowners to choose their renovations wisely to maximize potential return on investment.

 
Mar 05, 2020 08:00 AM

Brain Activity Expert to Keynote Appraisal Institute Annual Conference

The nation’s largest professional association of real estate appraisers today announced that Scott Halford – a best-selling author, educator of businesspeople worldwide and national Speaker Hall of Fame inductee – will be the keynote speaker at the 2020 Appraisal Institute Annual Conference in Orlando, Florida.

 
Mar 04, 2020 12:49 PM

Strong Investor Demand, Steady Economic Expansion to Stabilize Cap Rates: CBRE

Strong demand for commercial real estate from domestic and foreign investors as well as moderate economic growth should keep cap rates mostly stable, according to the North America Cap Rate Survey from real estate firm CBRE, MBA NewsLink reported Feb. 26. The survey predicted cap rate stability during the first half of the year across most property types.

 
Mar 04, 2020 12:30 PM

AI Opposes Call for More Appraisal Standards by Biden

Responding to presidential candidate Joe Biden’s call to “establish a national standard for housing appraisals,” the Appraisal Institute said March 2 that a new standard is “unnecessary … because one already exists.”

 
Mar 04, 2020 12:30 PM

HUD Seeks Feedback on Foreclosure, Appraisal Policies

The U.S. Department of Housing and Urban Development is seeking feedback by March 9 from mortgage servicers and others regarding a proposed set of foreclosure-sale policy improvements — including one that addresses a concern about appraisal policies used to set pricing parameters utilized in foreclosure sales, National Mortgage News reported Feb. 25.

 
Feb 26, 2020 12:30 PM

Opportunity Zones Boost Median Home Prices, Data Shows

The median home price increased more than the national average in almost half of all opportunity zones between the fourth quarter 2018 and fourth quarter 2019, analytics firm ATTOM Data Solutions reported Feb. 20. Arizona, New Jersey, North Carolina, Ohio and Pennsylvania had the most zones with prices higher than the national average.

 
Feb 26, 2020 12:30 PM

"Transformative" Demand for Life Science Properties: Report

The demand for lab space, diagnostic centers and healthcare facilities is expected to significantly increase within the next few years, and could reach “transformative” levels, according to the “Life Sciences 2020: The Future is Here” report from real estate firm Cushman & Wakefield, MBA NewsLink reported Feb. 19.

 
Feb 26, 2020 12:30 PM

Commercial Real Estate Lending Environment Remains Favorable, According to CBRE

While the lending environment for commercial real estate was virtually unchanged between the third and fourth quarters, it was up 4.2% from the same point a year ago, according to commercial real estate firm CBRE, MBA NewsLink reported Feb. 19. Favorable capital markets are expected to support strong lending activity throughout the year.

 
Feb 19, 2020 12:30 PM

Fed Says Economy is Healthy as it Eyes Effect of Coronavirus

Federal Reserve Chair Jerome Powell addressed Congress Feb. 11 stating that the nation’s economy is healthy and in its 11th year of expansion — the longest in history, Reuters reported. Powell also defended the Fed’s plan to ease strains in the banking system and warned of a possible economic hit due to the coronavirus.

 
Feb 19, 2020 12:30 PM

Industrial and Logistics Sector is Expected to Stay Healthy: Cushman & Wakefield

The market for industrial and logistics real estate is forecast to be strong through 2021, according to commercial real estate firm Cushman & Wakefield, Material Handling & Logistics reported Feb. 10. Nearly 460 million square feet is expected to be absorbed, but new supply should surpass demand this year. Vacancy rates should stay around 5%.

 
Feb 18, 2020 12:30 PM

AI Supports GAO Study of Valuation Safety and Soundness

The Appraisal Institute on Feb. 14 submitted a letter to the chairs of the House Financial Services Committee and the Subcommittee on Housing, Community Development and Insurance, thanking them for requesting that the Government Accountability Office study the implementation of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 to protect homeowners from appraisal loopholes.

 
Feb 18, 2020 08:00 AM

Residential Appraisers Play Key Role in Real Estate, New Book Says

Residential real estate appraisers need education, knowledge and experience to perform their valuation assignments competently, according to a book published today by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

 
Feb 12, 2020 12:30 PM

WeWork Downfall Reportedly Most Threatens 3 Office Markets

The office markets in New York City, Los Angeles and San Francisco are at the biggest risk of being negatively impacted by the downfall of office sharing company WeWork, according to multiple real estate services firms, National Real Estate Investor reported Feb. 4. Between 2010 and 2019, WeWork became the nation’s fastest-growing office tenant.

 
Feb 12, 2020 12:30 PM

Election Could Halt CRE Investor Activity, Report Predicts

The presidential election could cause the U.S. commercial real estate market to pause or drop after the second quarter, according to the National Investor Sentiment Report from analytics firm RCM/Lightbox, GlobeSt.com reported Feb. 6. Top threats to CRE investment activity include a wait-and-see approach until after the election and a significant change in economic conditions.

 
Feb 12, 2020 12:30 PM

White House May Require All Federal Architecture to be Classical Style: Report

The White House is considering rewriting the Guiding Principles for Federal Architecture, established in 1962, to require new federal government buildings and those undergoing renovation to adhere to a classical architectural style, Architectural Record reported Feb. 4. The White House said recent projects completed by the General Service Administration’s Design Excellence Program have “little aesthetic appeal.”

 
Feb 11, 2020 08:00 AM

Appraisers are Valuable Resource in Property Tax Appeals, Appraisal Institute Says

When appealing their property taxes – which can be among their largest annual expenses – homeowners should consider hiring an experienced local appraiser who can help navigate the process, the nation’s largest professional association of real estate appraisers said today.

 
Feb 05, 2020 12:30 PM

Atari Launces Hotel Chain Offering Immersive Experiences

Video game developer Atari on Jan. 27 announced plans to launch a hotel chain, with construction on its first property expected to break ground this year in Phoenix, followed by additional hotels in Austin, Texas; Chicago; Denver; Las Vegas; San Jose, California; San Francisco; and Seattle. The Atari Hotels will offer immersive gaming experiences for all age groups.

 
Feb 05, 2020 12:30 PM

Retail Real Estate in Certain US Cities Gives Investors Incentive to Buy, Data Shows

Not all retail markets are experiencing doom and gloom, with experts citing limited new construction as a means for keeping vacancies in check and significant opportunity for investors in cities like Seattle; Houston; Denver; and Nashville, Tennessee, according to research firms Costar Group, Reis and Real Capital Analytics, National Real Estate Investor reported Jan. 29.

 
Feb 04, 2020 12:30 PM

Rethinking Quantitative Easing is a Priority for the Fed

The Federal Reserve is rethinking its quantitative easing program because its bond portfolio is growing at a pace unseen since the early 2010s, when it acquired vast amounts of mortgage-back securities, Reuters reported Jan. 27. Prices for stocks and other risky assets also are rising, causing concern among former Fed officials, economists and investors.

 
Jan 30, 2020 10:51 AM

Appraisal Institute Pushes to Improve Regulatory Climate: Valuation Magazine

The Appraisal Institute is pushing to improve the regulatory climate for real estate appraisers and to educate policymakers on the importance of sound appraisal practices, according to an article in Valuation magazine’s fourth quarter 2019 issue.

 
Jan 29, 2020 12:30 PM

Housing, Consumer Spending to Propel Economy: Fannie Mae

Housing, consumer spending and business investment are expected to lead the U.S. economy to its 11th consecutive year of growth, Fannie Mae’s Economic and Strategic Research Group reported Jan. 21. The group noted that housing will be an economic growth driver, but that problems of affordability and inventory are likely to persist.

 
Jan 29, 2020 12:30 PM

CFPB Wants to Cut Debt-to-income Requirement from QM Rule

The Consumer Financial Protection Bureau plans to do away with its debt-to-income ratio requirement in the Ability to Pay/Qualified Mortgage rule, HousingWire reported Jan. 21. However, Fannie Mae and Freddie Mac are not required to abide by this change, and loans sold to the government-sponsored enterprises are allowed to exceed 43% DTI.

 
Jan 29, 2020 12:30 PM

Brokers and Mortgage Bankers See Favorable CRE Capital Conditions, Survey Reveals

More than 90% of surveyed brokers and mortgage bankers said they expect the amount of capital available for commercial real estate deals to remain at or higher than last year, according to a survey conducted by CRE services firm Berkadia, MBA NewsLink reported Jan. 20. Additionally, 83% expect transaction volume at or higher than 2019 levels.

 
Jan 22, 2020 12:30 PM

Fed Beige Book Shows Mixed Residential, Commercial Sectors

Low inventories of for-sale homes continue to strain markets in some Fed districts despite moderate expansion of new residential construction, according to the latest Beige Book released Jan. 15 by the Federal Reserve. Commercial activity was mixed, with districts reporting widely varying results. ​

 
Jan 22, 2020 12:30 PM

FHFA Seeks Comments on Residential PACE Loan Programs

The Federal Housing Finance Agency on Jan. 16 issued a Request for Input regarding proposed changes to the Property Assessed Clean Energy program, which covers energy retrofitting for residential and commercial properties. This RFI focuses primarily on the residential sector.

 
Jan 22, 2020 12:30 PM

Federal Reserve May Cut Interest Rates 3 Times This Year, Starting in March: UBS

The Federal Reserve could cut interest rates three times this year, despite such a move being uncommon during an election year, according to investment banking firm UBS, HousingWire reported Jan. 15. Damage from tariffs not covered under the Phase One trade deal could force the Fed to ease monetary policy as soon as March.

 
Jan 21, 2020 08:00 AM

Appraisal Institute Seeks to Expand Valuation Profession Leadership in 2020

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced that the organization will seek in 2020 to expand its leadership of the valuation profession and to enhance its reputation among stakeholders.

 
Jan 15, 2020 12:30 PM

Past Decade Produced Fewest Houses in 60 Years: NAHB

During the 10-year period from 2010-19, single-family housing production in the U.S. totaled just 6.8 million units compared to 12.3 million units the previous decade, the National Association of Home Builders reported Jan. 6. That level of production was the lowest in 60 years, and is primarily attributed to supply-side headwinds and reduced affordability.

 
Jan 15, 2020 12:30 PM

Home Values Reached a Record $29 Trillion In Q3: Report

The value of owner-occupied homes in the U.S. hit a record $29.2 trillion in the third quarter 2019, up 4.2% from the previous quarter, according to the Federal Reserve’s Flow of Funds report released Jan. 8, HousingWire reported. The overall value of U.S. homes is now 21% higher than the bubble peak in 2006.

 
Jan 15, 2020 12:30 PM

Buying a Home is More Affordable than Renting in 53% of Housing Markets: Report

Owning a median-priced, three-bedroom home is more affordable than renting a similar property in 53% of the nation’s markets, according to the 2020 Rental Affordability Report released Jan. 9 by analytics firm ATTOM Data Solutions. The report showed that owning is generally more affordable in rural markets while renting is better in urban and suburban markets.

 
Jan 08, 2020 12:30 PM

GSEs, CFPB, Pot Banking Among House Priorities in 2020

House Financial Services Committee Chair Maxine Waters, D-Calif., said that reforming the government-sponsored enterprises, closely monitoring the “undermined” Consumer Financial Protection Bureau and removing obstacles to banks serving marijuana businesses are among the committee’s top priorities in 2020, American Banker reported Jan. 1.

 
Jan 08, 2020 12:30 PM

IRS, Treasury Release Final Opportunity Zone Regulations

The IRS and the Treasury Department on Dec. 19 issued final regulations that provide guidance for investments in qualified opportunity zones. The regulations address taxpayer eligibility and requirements and explain how an entity becomes a qualified opportunity zone or a qualified opportunity business property.

 

Office Market Looks Positive for 2020 as Economy Poised for Growth, CBRE Reports

The nation’s office market is expected to perform well this year in both primary and secondary markets, and demand could potentially outstrip supply thanks to an economic outlook that shows continued growth and consistent job creation, according to the Real Estate Market Outlook 2020 released Dec. 23 by real estate firm CBRE, National Real Estate Investor reported.

 
Jan 02, 2020 08:00 AM

National Statistics and Trends Can Augment Local Multifamily Appraisals: The Appraisal Journal

Opinions of value can recognize both local and national indicators when appraisers value multifamily rental properties, according to an article published this week in The Appraisal Journal.

 
Dec 19, 2019 08:00 AM

Jefferson Sherman to Become President of Appraisal Institute on Jan. 1

Jefferson L. Sherman, MAI, AI-GRS, of Highland Heights, Ohio, will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with nearly 18,000 professionals in almost 50 countries.

 
Dec 18, 2019 12:30 PM

Fed to Maintain Rates in 2020, Barring Major Economic Change

The Federal Reserve on Dec. 11 voted to keep interest rates at their current levels and to maintain its path through 2020 — unless there’s a significant economic event, HousingWire reported. Fallout from the U.S.-China trade talks was cited as the primary reason for keeping rates in check.

 
Dec 18, 2019 12:30 PM

VA Loans More Than 40% of Ginnie Mae Mortgage Portfolio

Ginnie Mae reported Dec. 10 that VA loans make up 42% of its single-family mortgage bond issuance, and the agency now insures more than $2.1 trillion in total mortgages, HousingWire reported. A decade ago, VA loans only comprised 16.2% of Ginnie’s portfolio.

 
Dec 18, 2019 12:30 PM

CRE Space to Face Challenges, Opportunities in Coming Years: MBA White Paper

The office market should stay strong for several years due to strong job gains and stable market conditions, according to the white paper, “Where From Here?,” released Dec. 10 by the Mortgage Bankers Association. However, the paper noted that any change in consumer sentiment could influence the economy and demand for commercial space.

 
Dec 11, 2019 12:50 PM

FHA Raises Loan Limits Following Fannie, Freddie Action

The Federal Housing Administration on Dec. 5 announced that its loan limit for much of the U.S. will increase about $17,000 to $331,760 for 2020, HousingWire reported. The FHA loan limit is calculated as a percentage of the conforming limit established by Fannie Mae and Freddie Mac, which will increase to $510,400 next year.

 
Dec 11, 2019 12:50 PM

Treasury Council Report Covers Market, Regulatory Progress

The Treasury Department’s Financial Stability Oversight Council released its annual report Dec. 4, which showed significant financial market and regulatory developments and revealed potential threats to U.S. financial security. The report also noted that federal and state regulators are collecting data, identifying risks and strengthening oversight of nonbank financial companies that originate and service residential mortgages.

 
Dec 11, 2019 12:50 PM

Odds of US Recession Decrease, But Slowdown is Likely, Bankrate Survey Reveals

The chances of an economic recession in the U.S. next year are decreasing, but experts said there’s a 35% chance of a downturn before the presidential election and they expect job growth to slow and unemployment to increase, according to Bankrate’s Fourth Quarter Economic Indicator survey released Dec. 4.

 
Dec 04, 2019 12:30 PM

FHFA Raises Conforming Loan Limits for Fannie, Freddie

The Federal Housing Finance Agency announced Nov. 26 that it will raise the conforming loan limit for Fannie Mae and Freddie Mac to $510,000, up from $484,350, Housing Wire reported. This will be the fourth consecutive annual increase, during which time the limit has increased by more than $93,000.

 
Dec 04, 2019 12:30 PM

Fed Beige Book Reveals Increased Construction Activity

Both residential and commercial construction activity was steady to moderately higher in most Fed districts during the past six weeks, but home sales remained mostly flat or showed only slight increases, the Federal Reserve reported Nov. 27 in its latest Beige Book. Overall economic activity showed modest expansion.

 
Dec 04, 2019 12:30 PM

Cap Rate Compression Expected to Stop as the 2020 Election Draws Closer: Experts

Cap rate compression in the current market likely will stop as the 2020 presidential election nears and investors re-evaluate their exposure to domestic and geopolitical risks, according to investment advisory firm National Net Lease Group, GlobeSt.com reported Nov. 27.

 
Nov 27, 2019 12:30 PM

FHFA to Again Propose Enterprise Capital Rule for GSEs

The Federal Housing Finance Agency announced Nov. 19 that it will once again propose capital requirements for Fannie Mae and Freddie Mac involving the “entire regulation,” a plan first proposed in 2018. The proposal is expected in 2020, and will coincide with the end of conservatorship for the government-sponsored enterprises.

 
Nov 27, 2019 12:30 PM

CFPB Reconsiders TRID Rule, Reviews Mortgage Disclosures

The Consumer Financial Protection Bureau announced Nov. 20 it will review the TILA-RESPA Integrated Disclosure Rule and may eliminate it. The bureau will consider public comments as it also evaluates modifying or expanding TRID, which has caused significant concern among mortgage and title companies.​

 
Nov 27, 2019 12:30 PM

Industrial Real Estate Sector Starting to Exhibit Signs of Slowdown, Reis Data Shows

The industrial sector may be cooling off, according to real estate research firm Reis, National Real Estate Investor reported Nov. 21. Industrial tenants are expected to absorb about 50% less space over the next two years than was absorbed during the past two, and 18 markets saw negative net absorption during the third quarter.

 
Nov 20, 2019 12:30 PM

IRS Boosts Enforcement of Syndicated Conservation Easements

The IRS announced Nov. 12 that it’s ramping up enforcement actions for syndicated conservation easement transactions, looking for overstated values from more than a billion dollars in easements donated to charity. The IRS says it intends to end “abusive” transactions that defraud the government of revenue and undermine efforts at private land conservation.

 
Nov 20, 2019 12:30 PM

Public Offering of Shares in Fannie and Freddie May Be Available By 2021: FHFA

A large public offering of shares in Fannie Mae and Freddie Mac will probably be ready by 2021 or 2022, according to Federal Housing Finance Agency Director Mark Calabria, National Real Estate Investor reported Nov. 13. Calabria said he expects the FHFA to have a rule dictating capital requirements in place before the enterprises go to market.

 
Nov 20, 2019 08:00 AM

Don’t Wait to Winterize Your Home, Appraisal Institute Advises

CHICAGO (Nov. 20, 2019) – The nation’s largest professional association of real estate appraisers today advised homeowners not to wait for the upcoming cold months to winterize their property.

 
Nov 14, 2019 08:00 AM

Appraisal Institute Premieres Solar Photovoltaic Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, premiered a four-hour classroom seminar on developing the value of solar photovoltaic systems today in Chicago.

 
Nov 13, 2019 12:30 PM

Widespread Acceptance of Digital Mortgages Years Off: Fitch

Concerns over enforceability, technology and security could delay broad acceptance of digital mortgages for several years, according to ratings agency Fitch Ratings, HousingWire reported Nov. 5. While some government and mortgage industry entities have made progress, the use and acceptance of electronic promissory notes remains a big hurdle.

 
Nov 13, 2019 12:30 PM

WeWork May Leave Landlords with Empty Space, Bills: Report

Some landlords who signed leases with beleaguered co-working operator WeWork may be left with both vacant space and the bills for tenant improvements because the We Company structured its leases through LLCs that are not guaranteed by its holding company, according to real estate advisory firm George Smith Partners, National Real Estate Investor reported Nov. 12.

 
Nov 13, 2019 12:30 PM

FHFA Seeks Public Feedback on Fannie Mae, Freddie Mac UMBS Pooling Practices

The Federal Housing Finance Agency on Nov. 4 issued a Request For Input on pooling practices for Fannie Mae and Freddie Mac in preparation for new uniform mortgage-backed securities. The agency also is seeking input by Dec. 19 about other policies that might impact UMBS fungibility, including oversight of UMBS prepayment speeds and alignment.

 
Nov 06, 2019 12:30 PM

DOJ, HUD Ease Off False Claims Act, Eye More FHA Lending

The government will limit use of the False Claims Act against mortgage providers in pursuit of settlements related to Federal Housing Administration loans, Housing and Urban Development Secretary Ben Carson told attendees at the Mortgage Bankers Association Annual Conference Oct. 28 in Austin, Texas, HousingWire reported. HUD wants to coax big banks back to FHA lending.

 
Nov 06, 2019 12:30 PM

Fed Cuts Interest Rates, But Says No More Reductions Coming Unless Economy Worsens

The Federal Reserve on Oct. 30 cut interest rates for the third time this year, but Fed Chair Jerome Powell said that monetary policy is in a good place and no further rate reductions would occur unless the economy gets worse, Reuters reported. In contrast, President Trump is advocating further rate cutting.

 
Nov 05, 2019 08:00 AM

Appraisal Institute Seeks Speakers for 2020 Annual Conference

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, is accepting proposals for presentations at its 2020 Annual Conference, Aug. 3-5, at the JW Marriott in Orlando, Florida. The deadline is 5 p.m. CST Nov. 25.

 
Oct 30, 2019 12:30 PM

Fannie, Freddie Shareholders Could Be "Wiped Out:" FHFA

Mark Calabria, director of the Federal Housing Finance Agency, told the House Financial Services Committee Oct. 22 that he’s willing to “wipe out” Fannie Mae and Freddie Mac shareholders if necessary to protect taxpayers from another bailout, HousingWire reported. The government-sponsored enterprises have been in conservatorship since 2008.

 
Oct 30, 2019 12:30 PM

Supreme Court Will Hear Case on Constitutionality of CFPB

The Supreme Court announced Oct. 18 it will hear a case challenging the constitutionality of the Consumer Financial Protection Bureau, and a decision is expected by June, CNBC reported. The case alleges that the structure of the CFPB gives its director too much power, in violation of the Constitution’s separation of powers clause.

 
Oct 30, 2019 12:30 PM

Global Banking Outlook Dims; Reinvention Required to Survive Downturn: Report

Approximately 60% of global banks are not generating returns on equity and need to reinvent themselves to survive the next downtown, according to a report released Oct. 21 by consulting firm McKinsey. The firm suggests such tactics as ramping up risk-management systems, identifying new customer bases and building out digital talent bases and data analytics.

 
Oct 24, 2019 08:00 AM

Appraisers Provide a Wide Variety of Services, Appraisal Institute Says

Hiring a Designated Member of the Appraisal Institute can provide a broad range of benefits to commercial and residential clients, the president of the nation’s largest professional association of real estate appraisers said today.

 
Oct 23, 2019 12:30 PM

Fed to Expand Balance Sheet, but No Quantitative Easing

Federal Reserve Chair Jerome Powell on Oct. 11 announced a plan for the Fed to expand its balance sheet by purchasing government-backed securities, but said the effort is not quantitative easing, The New York Times reported. The Fed’s previous quantitative easing policy ended in 2014 after accumulating $4.5 trillion in assets, including mortgage-backed securities.

 
Oct 23, 2019 12:30 PM

OCC Fines Citibank $30M Over Delayed Foreclosure Sales

The Office of the Comptroller of the Currency fined Citibank $30 million over the lender’s failure to sell hundreds of foreclosed properties within the allotted 5-year timeframe, HousingWire reported Oct. 11. Federal regulations require banks to sell foreclosed properties within two to five years in order to expand housing inventory.

 
Oct 23, 2019 12:30 PM

Commercial Real Estate Executives Mostly Positive About Sector: Deloitte Survey

Commercial real estate executives from around the world who participated in a survey conducted by consulting firm Deloitte said they were mostly optimistic about sector performance during the next 18 months, MBA NewsLink reported Oct. 16. Nearly 75% of respondents said they anticipate increased transaction activity, but also increased borrowing costs.

 
Oct 22, 2019 11:05 AM

Distribution Facilities Drive Growth in Industrial Market: Valuation Magazine

Demand for distribution facilities is primarily driving growth in the healthy industrial real estate market, according to an article in Valuation magazine’s third quarter 2019 issue.

 
Oct 16, 2019 01:56 PM

FEMA May Buy Millions of Properties in Flood-prone Areas

Only 43,000 properties at high risk of flooding have been sold to the government since 1989, but data released Oct. 9 by the Federal Emergency Management Agency showed that millions more may need to be purchased due to climate change, Bloomberg reported. The data also revealed that FEMA is unprepared for a massive, government-subsidized real estate buyout.

 
Oct 16, 2019 01:54 PM

CoStar to Acquire Hospitality Analytics Firm STR for $450M

CoStar Group announced Oct. 1 that it will acquire global hospitality and benchmarking firm STR for $450 million in cash, allowing CoStar to provide data and analytics on the $3 trillion hotel asset class. The deal is expected to close during the fourth quarter.

 
Oct 16, 2019 01:53 PM

Cap Rates for Commercial Properties Drop in the Second Quarter: The Boulder Group

Cap rates for retail, industrial and office properties in the single-tenant net lease investment sector fell for the second consecutive quarter, according to the Net Lease Market Report released Oct. 8 by investment services firm The Boulder Group, GlobeSt.com reported. The Federal Reserve's interest rate reduction was cited as a key factor for the second-quarter drop.

 
Oct 15, 2019 08:00 AM

Wide Range of Big-Box Values Raises Concerns: The Appraisal Journal

Courts, market participants and valuation professionals have expressed widespread concern about the broad range in real estate values presented by opposing litigation experts regarding single-tenant, big-box properties, according to an article published this week in The Appraisal Journal.

 
Oct 09, 2019 12:30 PM

Residential Appraisal Threshold Increase Becomes Official

The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency on Sept. 27 announced the official adoption of a final rule that increases the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000. Transactions exempt from the appraisal requirement must instead obtain an evaluation.

 
Oct 09, 2019 12:30 PM

FHFA, Treasury to Allow Fannie, Freddie to Retain Capital

The Federal Housing Finance Agency and the Treasury Department announced Sept. 30 that Fannie Mae and Freddie Mac will be allowed to retain up to $45 billion in capital as they prepare to exit conservatorship, HousingWire reported. The Trump administration previously indicated that it opposed a profit sweep of the government-sponsored enterprises.

 
Oct 09, 2019 12:30 PM

CRE Performs Inconsistently, But Should Thrive Through Year-end, Report Shows

A review of mid-year commercial real estate showed spreads and divergence in property sectors, but performance for the rest of the year should thrive, according to the U.S. Real Estate Summary report released Oct. 1 by UBS Asset Management, Commercial Property Executive reported. The report showed minimal movement in cap rates and a drop in 10-year Treasury rates.

 
Oct 02, 2019 02:39 PM

Banking Committee Leaders Seek Answers on Appraisal Waiver

Rep. Maxine Waters, D-Calif., and Sen. Sherrod Brown, D-Ohio, on Sept. 24 submitted a letter to the Appraisal Subcommittee seeking answers about its July decision to grant a waiver of appraiser certification and licensing to the state of North Dakota. The letter expressed “surprise and concern” about the “unprecedented” waiver.

 
Oct 02, 2019 02:38 PM

Investors Push Down Industrial Cap Rates, CBRE Survey Shows

Investors in search of yield are putting money into industrial properties in secondary and tertiary markets, which is causing cap rate compression there, according to the first half 2019 cap rate survey released Sept. 24 by real estate firm CBRE, National Real Estate Investor reported.

 
Oct 02, 2019 02:35 PM

Rise in Co-working Spaces May Make Next Recession Worse, Boston Fed Reports

The increase in co-working space could be a source of financial instability and make the next recession worse by sparking a run on commercial real estate, Eric Rosengren, president of the Boston Federal Reserve, told an audience at New York University Sept. 20, Reuters reported. Rosengren expressed concern that the financial strength of the co-working model hasn’t been tested.

 
Sep 25, 2019 12:30 PM

Trump Asks Supreme Court for More Authority Over CFPB

The Trump administration on Sept. 17 asked the Supreme Court to take up a pending appeal and rule that the president has constitutional authority to fire the director of the Consumer Financial Protection Bureau, Bloomberg reported. The 2010 law that established the CFPB states the director can only be removed for “inefficiency, neglect of duty, or malfeasance in office.”

 
Sep 25, 2019 12:30 PM

Multifamily Cap Rates Rise in Cities with Rent Control: RCA

More than 80% of markets with rent-control regulation saw an increase in cap rates on multifamily properties during the past year as investors pay less for properties, according to analytics firm Real Capital Analytics, National Real Estate Investor reported Sept. 17. In many markets, investors are spooked by the potential for additional regulation.

 
Sep 25, 2019 12:30 PM

Life Insurance Companies Want to Increase Multifamily Lending, Holdings, MBA Reports

Life insurance companies said they want to increase their multifamily lending volume by approximately $10 billion next year, and ultimately hold between $50 billion and $120 billion in loans backed by multifamily properties over the next five years, the Mortgage Bankers Association reported Sept. 16.​

 
Sep 20, 2019 08:00 AM

Appraisal Institute Praises House for Passing Valuation-Related Bills

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today applauded the U.S. House for passing consumer-friendly legislation that will address long-standing concerns surrounding residential appraisals.

 
Sep 18, 2019 11:45 AM

NCREIF Issues Agricultural Appraisal Guidelines

The National Council of Real Estate Investment Fiduciaries released its Agricultural Appraisal Guidelines Sept. 11. Developed by members of the NCREIF Farmland Committee with input from organizations such as the Appraisal Institute, the guidelines are intended to provide clearly defined standards for appraisers, but are not intended to replace any current valuation requirements.

 
Sep 18, 2019 11:44 AM

Flex Office Space to Claim Bigger Market Slice: CBRE

The U.S. market for flexible office space is expected to boom during the next 10-plus years, according to a report released Sept. 12 by real estate firm CBRE. By 2030, flex space is expected to account for 13% of overall office space, up from 1.8% today, and total 600 million square feet, up from 71 million square feet.

 
Sep 18, 2019 11:42 AM

New York, Indiana Boast Top Office Construction Markets, According to Yardi Matrix

South Bend, Indiana, and the New York City boroughs of Brooklyn and Queens are top metros for office construction in terms of supply as a percentage of existing stock, according to analytics firm Yardi Matrix, Commercial Property Executive reported Sept. 11. Brooklyn and Queens benefit from proximity to Manhattan while South Bend benefits from an expanding downtown.

 
Sep 17, 2019 08:00 AM

Don’t Like Your Home’s Appraisal? Here’s What You Can Do

Buyers and sellers who are concerned about a home’s appraisal have options available to them, the president of the nation’s largest professional association of real estate appraisers said today.

 
Sep 11, 2019 12:30 PM

White House Unveils Plan to End Fannie, Freddie Control

The Trump administration on Sept. 5 shared its plan for releasing Fannie Mae and Freddie Mac from more than 10 years of government control, including the creation of new competitors, Bloomberg reported. The plan involves cooperation from multiple federal agencies and calls for reforms that protect the government-sponsored enterprises from another housing crash.

 
Sep 11, 2019 12:30 PM

Housing Sector Slow, Commercial Sector Steady: Beige Book

Home sales through the end of August remained slow in most fed districts due to ongoing housing inventory shortages and flat new home construction, the Federal Reserve reported Sept. 4 in its newest Beige Book. On the commercial side, construction and sales activity held steady, and leasing increased slightly.

 
Sep 11, 2019 12:30 PM

Office Sector Shows Weakest CRE Growth Outlook Despite Strong Job Market: Report

The office market shows the weakest growth among commercial real estate sectors — despite strong job reports, according to real estate marketplace Ten-X, MBA NewsLink reported Sept. 5. The number of new office projects in the pipeline is expected to eclipse absorption and push vacancies up to 17.3% by the end of the year.

 
Sep 09, 2019 08:00 AM

Appraisers Can Help Clients Navigate Natural Disasters, Appraisal Institute Says

In the aftermath of a natural disaster, such as a hurricane, appraisers can help their clients by providing expert market analysis, according to the nation’s largest professional association of real estate appraisers.

 
Sep 04, 2019 12:30 PM

Warning Sign for US CRE as Global Investors Selling: RCA

For the first time in seven years, global investors in U.S. office buildings and retail space sold more than they bought, according to a Real Capital Analytics...

 
Sep 04, 2019 12:30 PM

Next Recession Will not Cause Housing "Fire Sale:" Economists

Economists predict that the U.S. will experience a recession within the next two years, but Americans shouldn’t fear a real estate “fire sale” because...

 
Sep 04, 2019 12:30 PM

Small Cap Commercial Real Estate Faces Course Adjustment, Analytics Firm Reports

The small-cap commercial real estate sector has flattened and appears vulnerable, according to analytics firm Boxwood Means, MBA NewsLink reported Aug....

 
Aug 29, 2019 08:00 AM

Appraisers Can Help Themselves Mitigate Liability Risk, New Book Says

Appraisers who take on a variety of valuation assignments can manage the risks associated with their work by taking realistic, effective steps, according to a new book published by the Appraisal Institute.​

 
Aug 28, 2019 12:30 PM

Economy Thriving, Major Risks Being Monitored: Fed Chair

The U.S. economy is thriving with economic expansion entering its 11th consecutive year — the longest on record, Federal Reserve Chair Jerome Powell said during a symposium at the Federal Reserve’s central banking conference in Jackson Hole, Wyoming, HousingWire reported Aug. 26. Powell noted significant risks, however, including slowing global growth and trade policy uncertainty.

 
Aug 28, 2019 12:30 PM

Commercial Real Estate Executives Report Stable Conditions: Real Estate Roundtable

Commercial real estate executives expressed confidence in the market as reports show balanced and stable economic market conditions, according to The Real Estate Roundtable’s 2019 Q3 Sentiment Index released Aug. 16. Around 60% of respondents said they believe real estate asset values will be the same a year from now.

 
Aug 27, 2019 08:00 AM

Appraisal Institute, Fannie Mae Join Forces to Foster Diversity in Valuation Profession

The Appraisal Institute is partnering with Fannie Mae to promote appraisal careers and to foster diversity in the valuation profession, the nation’s largest professional association of real estate appraisers announced today.

 
Aug 23, 2019 08:00 AM

Appraisal Institute Debuts Artificial Intelligence Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, debuted a four-hour classroom seminar on artificial intelligence, automated valuation models and blockchain today in Denver.

 
Aug 21, 2019 12:30 PM

AI Opposes Banks' Residential Appraisal Threshold Increase

Federal banking regulators on Aug. 20 approved a final rule to increase the residential appraisal threshold from $250,000 to $400,000, effective after publication in the Federal Register, which should happen within days.

 
Aug 21, 2019 12:30 PM

FHA Passes Condo Approval Rule to Promote Ownership

The Federal Housing Administration on Aug. 14 published a final regulation establishing new condominium approval rules, notably allowing some individual condo units to be eligible for FHA mortgage insurance even if the condo project is not FHA approved. The regulations, which take effect Oct. 15, also permit more mixed-use projects to qualify for FHA insurance.

 
Aug 21, 2019 12:30 PM

US Office Sector Has Momentum; Second Quarter Vacancy Rate Hits 18-year Low: CBRE

The U.S office market experienced significant growth during the second quarter, with vacancy dropping to an 18-year low of 12.2%, according to real estate services firm CBRE, National Real Estate Investor reported Aug. 14. The market absorbed 17.1 million square feet, bringing the year-to-date total to 66.5 million square feet.

 
Aug 14, 2019 12:30 PM

US Farmland Value Increases Average of $60 Per Acre: USDA

The average value of U.S. farm real estate is $3,160 per acre, up from $3,100 per acre in 2018, according to the U.S. Agriculture Department’s 2019 Land Values Summary released Aug. 6, Ag Professional reported. The per-acre average for cropland also increased, while the per-acre average for pastureland reached a record $1,400.

 
Aug 14, 2019 12:30 PM

GSE Reform Mostly Complete, Former Freddie Mac CEO Says

The government-sponsored enterprises have almost been restored to a condition where they can be privatized without legislative input from Congress, according to the paper “GSE Reform: None or Mostly Done?”, authored by Donald Layton and released Aug. 7 by the Joint Center for Housing Studies at Harvard University. Layton resigned as Freddie Mac CEO last month.

 
Aug 14, 2019 12:30 PM

Multifamily Sector Going Strong, Expected to Continue Through 2020: Freddie Mac

The multifamily market has performed above average during the first half of the year, with especially strong performance during the second quarter, which is expected to continue through 2020, Freddie Mac reported Aug. 8 in its Multifamily Midyear Outlook. Low interest rates are expected to increase demand for multifamily investments and drive up origination volume.

 
Aug 07, 2019 12:30 PM

Court Grants Stay of Motion in FTC Case Against LREAB

A Louisiana court on July 29 granted a motion to stay in the Federal Trade Commission’s case against the Louisiana Real Estate Appraisers Board in which it alleged the LREAB illegally determined a floor for appraiser prices. The court ruled that, among other things, continuing the case would hamper the state’s ability to make and enforce policies.

 
Aug 07, 2019 12:30 PM

ASB Mulls Evaluations Standards; Paper Expected Soon

The Appraisal Standards Board of The Appraisal Foundation on Aug. 1 announced its intention to explore the creation of uniform standards for evaluations. The ASB said that since no standards exist for conducting evaluations, there is greater risk to the safety and soundness of real estate transactions and diminished protections for consumers. A concept paper is expected near Labor Day.

 
Aug 07, 2019 12:30 PM

FASB Proposes to Delay, Stagger Lease Accounting Standards Dates: Advisory Firm

The Financial Accounting Standards Board voted Aug. 1 to tentatively stagger effective dates for major accounting standards and to defer new standards on lease accounting and credit losses, advisory firm CohnReznick reported. The effective date of the new standard has tentatively been deferred to periods beginning after Dec. 15, 2020, for most entities.

 
Jul 29, 2019 08:00 AM

Jody Bishop Elected 2020 Appraisal Institute Vice President

Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant, South Carolina, was elected 2020 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors in Denver.

 
Jul 25, 2019 08:00 AM

Appraisal Institute Honors 11 National Award Winners

Stephen D. Roach, MAI, SRA, AI-GRS, of San Diego, was honored Wednesday with the Appraisal Institute’s Lifetime Achievement Award during the Appraisal Institute Annual Conference in Denver.

 
Jul 24, 2019 11:53 AM

AI Condemns NCUA Action Quadrupling Appraisal Threshold

The Appraisal Institute on July 18 condemned as irresponsible and dangerous the National Credit Union Administration’s decision to increase the appraisal threshold for nonresidential real estate loans from $250,000 to $1 million, effectively reducing the number of appraisals required for commercial loans and challenging the safety and soundness of the system.

 
Jul 24, 2019 11:51 AM

FHA Delays Digital Signature Requirement for EAD System

The Federal Housing Administration is delaying its requirement for XML Digital Signatures on all appraisals uploaded to the Electronic Appraisal Delivery System, the agency announced July 11. The requirement was to have taken effect Aug. 5; no new date has been set, and XML Digital Signature Hard Stops remain eligible for automatic overrides.

 
Jul 24, 2019 11:47 AM

White House Plans September Release for Proposed Reforms for Fannie, Freddie

The Trump administration’s plan to overhaul Fannie Mae and Freddie Mac likely will wait until September due to other priorities within the Treasury Department, Reuters reported July 17. The Federal Housing Finance Agency hasn’t set a timeline for releasing the government-sponsored enterprises from conservatorship, which means the issue may not be resolved before the 2020 election.

 
Jul 22, 2019 11:34 AM

Appraisal Institute Opens Valuation Profession’s Premier Event

More than 525 real estate professionals from around the world today attended the opening session of the valuation profession’s most important annual event, hosted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

 
Jul 18, 2019 10:56 AM

Appraisal Institute Condemns NCUA’s Action, Calls for Congressional Oversight

The nation’s largest professional association of real estate appraisers vigorously condemned today’s action by the National Credit Union Administration, calling the NCUA’s decision to effectively reduce the number of appraisals required for commercial real estate loans irresponsible, radical and dangerous.​

 
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 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 20, 2019 08:00 AM

Appraisal Institute Urges Congress to Address Valuation Issues

The president of the Appraisal Institute, the nation’s largest professional association of real estate appraisers, encouraged Congress to act on valuation topics during today’s hearing on Capitol Hill. ​

 
May 23, 2019 08:00 AM

Valuation Career Opportunities Abound, Appraisal Institute Tells Graduates

As the number of real estate appraisers has decreased in recent years, rewarding career opportunities have opened for recent graduates, according to the nation’s largest professional association of real estate appraisers.

 
Apr 24, 2019 08:00 AM

Exterior Home Renovations Offer Greatest Value: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advised homeowners to focus on outdoor improvement projects when seeking to improve their home’s value.

 
Apr 16, 2019 08:00 AM

Appraisal Institute, Freddie Mac Unveil New Valuation Course on Manufactured Homes

As part of their recently announced collaboration, the Appraisal Institute and Freddie Mac unveiled a new educational offering today in Dallas that is designed to teach appraisers the latest skills on how to value manufactured homes.

 
Apr 11, 2019 08:00 AM

In-Depth Scrutiny of Published Data Improves Property Market Understanding: The Appraisal Journal

A detailed analysis of population and employment data, along with the use of fair share comparisons, increases the accuracy of assumptions made by appraisers when completing commercial valuation assignments, according to a study published this week in The Appraisal Journal.

 
Apr 02, 2019 08:00 AM

Appraisers Adapt to Evolving Residential Market: Valuation Magazine

Appraisers working in the residential real estate sector say national trends broadly apply to their markets, but they note that since each region essentially is local, they need to adapt to ever-changing area dynamics, according to an article in Valuation magazine’s first quarter 2019 issue.

 
Mar 22, 2019 08:00 AM

Appraisal Institute Debuts Rural Valuation Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, debuted a seven-hour classroom seminar on rural valuation issues today in Nashville, Tennessee.

 
Feb 22, 2019 08:00 AM

Appraisal Institute Premieres Leasehold Valuation Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, premiered a seven-hour classroom seminar on leasehold valuation issues today in Emeryville, California.​

 
Feb 14, 2019 08:00 AM

Qualified Appraisers Key to Property Tax Appeals, Appraisal Institute Says

Working with an Appraisal Institute Designated Member can benefit homeowners who choose to appeal their property tax assessments, the nation’s largest professional association of real estate appraisers said today.

 
Jan 10, 2019 08:00 AM

Appraisal Institute to Enhance Focus on Residential Appraisers in 2019: Valuation Magazine

As residential appraisers face new concerns, the Appraisal Institute continues spending significant time and resources on the issues and challenges impacting valuation professionals, according to an article in Valuation magazine’s fourth quarter 2018 issue.

 
Mar 23, 2018 11:16 AM

North Carolina Supreme Court Allows Brokers’ Fair Market Value Testimony

The North Carolina Supreme Court in an opinion filed March 2 held that real estate brokers may legally testify regarding the fair market value of real property in condemnation cases. The case involved the state's condemnation of approximately two acres of commercial property for a highway construction project.

 
Mar 23, 2018 11:14 AM

AI Backs Revisions as Senate OKs Banking Reform Bill

The Appraisal Institute led nearly three dozen valuation organizations in supporting revisions to a bipartisan Senate bill that passed March 14. The measure, which now goes to the House, rolled back many post-financial-crisis banking rules found in the Dodd-Frank Act.

 
Mar 23, 2018 11:12 AM

Appraisal Institute Partners with RESNET to Create Appraisal Portal

The Appraisal Institute on March 13 announced its partnership with the Residential Energy Services Network to launch an appraiser portal that allows AI professionals to access data for properties with Home Energy Rating System Index scores.

 

FHFA to Increase Conforming Loan Limits for 2018

The Federal Housing Finance Agency announced Nov. 28 that the maximum conforming loans limits for mortgages purchased by Fannie Mae and Freddie Mac next year will be $453,100 for most single-unit properties, up from $424,100 this year. The limit is based on the average U.S. home price.

 
Aug 10, 2016 12:30 PM

CFPB Publishes 900-page Mortgage Lending Final Rule

The Consumer Financial Protection Bureau on Aug. 4 finalized mortgage servicing regulations to ensure borrowers are treated fairly, HousingWire reported. Included in the 900-page final rule are mandates that certain borrowers receive foreclosure protections more than once during the life of the loan and that foreclosure protections cover those inheriting property.

 
Jul 27, 2016 02:42 PM

Court Revives Freddie Mac Subprime Suit

A federal appeals court on July 20 revived a lawsuit filed by the Ohio attorney general that accuses Freddie Mac of defrauding the state’s $87.3 billion pension fund by failing to disclose risk to subprime mortgages, Reuters reported. A lower court had ruled that disclosure shortfalls didn’t prove monetary loss.

 
Jul 27, 2016 02:39 PM

‘Down-and-Out’ Neighborhoods Make a Rebound

Many so called “rough-and-tumble” neighborhoods have bounced back in recent years, as tight inventory and new construction has helped convince homebuyers to consider such neighborhoods, analytics firm RealtyTrac reported July 20 in its best of the “bad” neighborhoods report.

 
Jul 27, 2016 02:32 PM

White House Unveils Clean Energy Initiative

The White House on July 19 announced the Clean Energy Savings for All Initiative, a joint effort from the Environmental Protection Agency and the departments of Energy, Agriculture, Veteran’s Affairs, Housing and Urban Development and Health and Human Services to increase access to solar energy, promote energy efficiency and ensure homeowner access to solar options.

 
 
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