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.
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.
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.
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.
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.
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.
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.
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.
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.”
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.