Appraisal Institute News

Oct 13, 2021 12:30 PM

Wyoming, Idaho at Major Risk of Wildfire: CoreLogic Report

Wyoming and Idaho top the list of states with the greatest risk of economic damage due to wildfire, CoreLogic revealed in its latest Wildfire Report released Sept. 29. Rounding out the top five are New Mexico, Utah and Nevada. The report looked at property-related risk and the availability of reconstruction resources, among other factors.

Oct 13, 2021 12:30 PM

Indoor, Outdoor Mall Visits Down in September as Retail Recovery Slows: Index

Indoor and outdoor malls both saw visits drop this fall, a reversal of the steady recovery these properties have experienced this year, according to the Placer.ai Mall Index released Oct. 6. Visits to indoor malls were down 6.5% in September compared with September 2019, while visits to outdoor malls dropped 5.2%. Increasing coronavirus cases and differing return-to-school actions contributed to the decline.

Oct 13, 2021 12:30 PM

Single-tenant Net Lease Cap Rates at Record Lows: Data

Cap rates in the single-tenant net lease sector reached a historic low in all three asset classes during the third quarter, The Boulder Group reported Oct. 1 in its Q3 2021 Net Lease Market Report. Cap rates for retail, office and industrial properties dropped to 5.8%, 6.8% and 6.7%, respectively.

Oct 06, 2021 12:30 PM

New California Appraiser Requirements Focus on Bias

California Gov. Gavin Newsom on Sept. 28 signed into law AB 948, legislation that contains multiple provisions related to appraisal bias. Beginning July 1, 2022, all residential sales contracts must include a statement promising that appraisals are unbiased and not influenced by improper or illegal considerations. Refinance transactions must include the same statement in loan documents provided to borrowers.

Oct 06, 2021 12:30 PM

Fannie Mae, Freddie Mac Extend Multifamily Forbearance

The Federal Housing Finance Agency announced Sept. 24 that Fannie Mae and Freddie Mac will extend coronavirus forbearance to owners of qualifying multifamily properties. The previous extension was set to expire Sept. 30 and is subject to existing tenant protections.

Oct 06, 2021 12:30 PM

Consumer Confidence Index Down in September Marking 3rd Consecutive Monthly Drop

The Consumer Confidence Index published Sept. 28 by the Conference Board showed a decline in September, following drops in both July and August. The decline was attributed to the spread of the coronavirus Delta variant, which has dampened optimism and caused concerns about the economy and short-term growth prospects.

Sep 29, 2021 12:30 PM

Federal Reserve Expected to Pull Back on Major Stimulus

If the economic recovery continues to progress, the Federal Reserve is likely to reduce its pace of asset purchases, which include $120 billion in Treasury and mortgage-backed securities each month, according to the Fed’s banking policy updated released Sept. 22, CNN reported. The Fed also could increase interest rates early next year instead of waiting until 2023.

Sep 29, 2021 12:30 PM

FHFA: More Than 200,000 Foreclosures Prevented During Q2

The Federal Housing Finance Agency announced Sept. 23 that Fannie Mae and Freddie Mac completed 217,000 foreclosure prevention actions during the second quarter, bringing the number of consumers who have been assisted during conservatorship to 6.03 million. The report also noted that 47% of loan modifications lowered borrower monthly payments by more than 20%.

Sep 29, 2021 12:30 PM

Nearly Half of US Companies Likely to Downsize Office Footprint, Survey Reveals

Around 44% of U.S. companies said they plan to downsize their office footprint when the pandemic ends, according to a Gensler survey, Bisnow reported Sept. 17. However, companies that were categorized as “high-performing” were nearly as likely to downsize their footprint as they were to expand it. Only 17% of high-performers said they would maintain the same amount of space.

Sep 22, 2021 12:30 PM

HUD Disproportionately Sells Homes in Flood Zones: NPR

Homes sold by the U.S. Department of Housing and Urban Development between January 2017 and August 2020 were 75 times more likely to be located in flood zones than other homes sold during the same period, NPR reported Sept. 13. Buyers of HUD homes received less information about flood risks and the cost of flood insurance than those who bought from private sellers.

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AI News

Wyoming, Idaho at Major Risk of Wildfire: CoreLogic Report

Indoor, Outdoor Mall Visits Down in September as Retail Recovery Slows: Index

Single-tenant Net Lease Cap Rates at Record Lows: Data

New California Appraiser Requirements Focus on Bias

Fannie Mae, Freddie Mac Extend Multifamily Forbearance

Consumer Confidence Index Down in September Marking 3rd Consecutive Monthly Drop

Federal Reserve Expected to Pull Back on Major Stimulus

FHFA: More Than 200,000 Foreclosures Prevented During Q2

Nearly Half of US Companies Likely to Downsize Office Footprint, Survey Reveals

HUD Disproportionately Sells Homes in Flood Zones: NPR