Appraisal Institute News

Jan 07, 2022 08:30 AM

Restaurant Valuation Requires Diligent Highest and Best Use Analysis: The Appraisal Journal

Appraisers who value restaurant properties should fully understand the opportunities and risks inherent in restaurant operations and how these factors affect real property value, according to an article published this week in The Appraisal Journal.

Dec 28, 2021 08:00 AM

Pledger M. (Jody) Bishop III to Become President of Appraisal Institute on Jan. 1

Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mt. Pleasant, South Carolina, will begin his one-year term as president of the Appraisal Institute on Jan. 1.

Dec 22, 2021 08:30 AM

Residential Sector Sets 10 Records in 2021, Redfin Reports

Housing was hot in 2021, breaking 10 records, including highest median sale price, lowest inventory of for-sale properties and strongest demand for second homes, Redfin reported Dec. 13. The pandemic changed the residential sector, creating a seismic shift in how people live and work and why and where they purchased homes.

Dec 22, 2021 08:30 AM

Residential Appraisals Shouldn’t Reference Neighborhood Demographics: FHFA

The Federal Housing Finance Agency on Dec. 14 reported that its analysis of millions of property valuations found many residential appraisal reports that contained improper references to a neighborhood’s racial demographics. Examples include the percentages of an area's racial and ethnic makeup; the languages spoken in an area; and amenities specifically geared to a race, ethnic, or religious group.

Dec 22, 2021 08:29 AM

Lenders Expect ‘Normal’ Housing Market in 2022: Fannie Mae

Sixty-five percent of mortgage lenders said they expect profit margins will drop during the next quarter, up from 46% who said so last quarter, Fannie Mae reported Dec. 15 in its Q4 2021 Mortgage Lender Sentiment Survey. The shifting expectations suggest that the housing market may return to a more 'normal' state after a couple of boom years.

Dec 08, 2021 12:30 PM

Agencies Raise Appraisal Exemption Threshold

The Consumer Financial Protection Bureau, the Federal Reserve Board and the Office of the Comptroller of the Currency announced Dec. 1 that the 2022 threshold for exempting mortgage loans from special appraisal requirements will be $28,500, up from $27,300 this year. The increase takes effect Jan. 1.

Dec 08, 2021 12:30 PM

Value of Farm Properties Up Sharply in Q3: Report

The value of non-irrigated cropland jumped by at least 12% during the third quarter, and the increase was consistent across most states, according to the Federal Reserve Survey of Agricultural Credit Conditions released Nov. 23. Interest rates on farm loans remain historically low and agricultural credit conditions saw further improvement.

Dec 08, 2021 12:30 PM

Cap Rates for Medical Sector Squeezed, Overall Net Lease Down: The Boulder Group

Cap rates for the single-tenant, net lease medical sector compressed 55 basis points during the third quarter to 5.95% when compared to the same point a year ago, The Boulder Group reported Dec. 2 in its Q3 Net Lease Medical Report. The overall net lease market, comprised of retail, office and industrial, was down 23 basis points year-to-year.

Dec 01, 2021 08:30 AM

VA Increasing Appraisal Fees, Turnaround Times

The Department of Veterans Affairs announced Nov. 19 that it will raise appraisal fees and extend turnaround times in certain markets in response to “unprecedented demand,” HousingWire reported. The fee increases, which take effect Dec. 1, will vary by state and county; for example, $25 in Minnesota and $400 in select parts of California.

Dec 01, 2021 08:30 AM

FHFA Conforming Loan Limits for 2022 Approach $1M

The Federal Housing Finance Agency on Nov. 30 announced that the conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2022 will be $647,200 for single-family homes and increase to $970,800 for homes in higher-cost areas. Loan limits are adjusted annually to reflect changes in the average U.S. home price.

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AI News

Restaurant Valuation Requires Diligent Highest and Best Use Analysis: The Appraisal Journal

Pledger M. (Jody) Bishop III to Become President of Appraisal Institute on Jan. 1

Residential Sector Sets 10 Records in 2021, Redfin Reports

Residential Appraisals Shouldn’t Reference Neighborhood Demographics: FHFA

Lenders Expect ‘Normal’ Housing Market in 2022: Fannie Mae

Agencies Raise Appraisal Exemption Threshold

Value of Farm Properties Up Sharply in Q3: Report

Cap Rates for Medical Sector Squeezed, Overall Net Lease Down: The Boulder Group

VA Increasing Appraisal Fees, Turnaround Times

FHFA Conforming Loan Limits for 2022 Approach $1M