Appraisal Institute News

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.

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AI News

Federal Reserve Extends Lending Facilities Until Year-end

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

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

Commercial Appraisal Data Standards Released for Comment

Economic Recovery Ending, Another Slowdown Expected: JLL

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

AI Urges Swift Passage of Appraisal Portal Legislation

Federal Reserve Expects Recession Despite Initial Optimism

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

Appraisal Institute Urges Swift Passage of Appraisal Portal Legislation