Appraisal Institute News

Oct 20, 2021 12:30 PM

Report: 20% of Commercial Properties, 25% of Critical Infrastructure Face Flood Risk

About 20% of U.S. commercial properties and 14% of residential properties are at risk of flooding, according to the 3rd National Risk Assessment: Infrastructure on the Brink report published Oct. 11 by nonprofit First Street Foundation. Additionally, 25% of critical infrastructure and 23% of roads are vulnerable. States with the greatest risk are Louisiana, Florida, Kentucky and West Virginia.

Oct 20, 2021 12:30 PM

Foreclosures Spike During Q3 as Moratorium is Lifted: Data

Foreclosure activity significantly increased in September as the moratorium was lifted, with 19,609 filings reported for the month, up 24% from August and up 102% from September 2020, ATTOM reported Oct. 14 in its latest Foreclosure Market Report. Lender foreclosures also increased, up 32% quarter-to-quarter. Florida, Illinois and Delaware reported the highest foreclosure rates.

Oct 20, 2021 12:30 PM

Desktop Appraisals Are Here to Stay, FHFA Announces

The option to perform desktop appraisals will become permanent, the Federal Housing Finance Agency announced Oct. 19. Starting early next year, appraisals for purchase loans can be remotely conducted using public records, such as listings and tax appraisals. Desktop appraisals were intended as a temporary response to the coronavirus pandemic, allowing appraisers to safely perform their job amid lockdowns and social distancing.

Oct 19, 2021 08:30 AM

National Park Concessions Impact Appraised Value: The Appraisal Journal

The National Park Service’s concession program and its various attempts to compensate concessioners for the value of physical improvements put in place during the tenure of a concession contract can impact valuation, according to an article published this week in The Appraisal Journal.

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.

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AI News

Report: 20% of Commercial Properties, 25% of Critical Infrastructure Face Flood Risk

Foreclosures Spike During Q3 as Moratorium is Lifted: Data

Desktop Appraisals Are Here to Stay, FHFA Announces

National Park Concessions Impact Appraised Value: The Appraisal Journal

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