Appraisal Institute News

Feb 16, 2022 08:30 AM

Foreclosure Activity Highest Since COVID Outbreak: Data

Residential foreclosures rose to their highest level in nearly two years, up 29% between December and January and 139% from one year ago, ATTOM reported Feb. 10. The increase in foreclosures follows a typical lull during the holiday season, but were still higher than usual due to the expiration of the foreclosure moratorium.

Feb 16, 2022 08:30 AM

FHFA Seeks Input on Fiscal Year 2022-26 Strategic Plan, Feedback Due in March

The Federal Housing Finance Agency announced Feb. 9 that it is seeking input on its Draft Strategic Plan, which details the agency’s 2022-26 fiscal year priorities for Fannie Mae, Freddie Mac and the Federal Home Loan Bank System. Affordable and sustainable housing are among the items under review. Input is due by March 11.

Feb 16, 2022 08:30 AM

Women, Millennials Driving Black Homeownership: Realtor.com

Black homebuyers accounted for 9.1% of sales between October 2020 and September 2021, and while that’s up slightly from a decade ago, the growth rate is similar to non-Black homeowners, which suggests the homeownership gap hasn’t narrowed, Realtor.com reported Feb. 9. Black women are purchasing more homes than Black men, while millennials are the primary driver of Black homeownership.

Feb 09, 2022 08:30 AM

USPAP Needs Clarity Regarding Bias, Federal Law: Agencies

Multiple agencies, including the National Credit Union Administration, the Federal Housing Finance Agency and the Federal Reserve Board, sent a letter to The Appraisal Foundation Feb. 4 saying there aren’t “clear warnings about the requirements of federal law in the standards it sets, and in the training it provides for appraisers” with regard to alleged bias. The agencies requested changes to the 2023 edition of the Uniform Standards of Professional Appraisal Practice.

Feb 08, 2022 08:30 AM

Increase Your Chances of Successful Property Tax Appeals, Says Appraisal Institute

Highly qualified appraisers are able to assist homeowners with appeals of property taxes, which can be among a homeowner’s largest annual expenses. Working with an Appraisal Institute Designated Member can benefit homeowners who choose to appeal their property tax assessments, the nation’s largest professional association of real estate appraisers said today.

Feb 02, 2022 08:30 AM

Report Finds No Undervaluation of Black-owned Homes in Refis

A review of 1.8 million appraisals from 2019 and 2020 found that Black-owned properties were not undervalued during refinance transactions, Fannie Mae reported Jan. 20 in its Appraising the Appraisal report. Homes owned by white borrowers were more frequently overvalued than homes owned by Black borrowers, and six Southeastern states accounted for nearly 50% of overvalued properties.

Feb 02, 2022 08:30 AM

Lower-income Households of Color Struggle With Rent: Study

The nation’s overall vacancy rate for rental housing dropped to 5.8% in 2021, and asking rents jumped 13.8% during the third quarter, according to America’s Housing 2022 report from the Harvard Joint Center for Housing Studies, MBA NewsLink reported Jan. 23. Increased rents and lack of inventory has particularly affected lower-income households, especially those of color.

Feb 02, 2022 08:30 AM

Market Sentiment Concerning CRE Slips, Optimism Remains Strong, Survey Reveals

While market sentiment concerning commercial real estate dropped toward the end of 2021, it remains strong, according to real estate executives who participated in RCLCO’s newest Real Estate Market Sentiment survey, MBA NewsLink reported Jan. 26. More than half the respondents said they expect conditions to become moderately or significantly better during the next 12 months.

Jan 28, 2022 08:30 AM

Appraisal Institute Leadership to Tackle Challenges with Strategic Mindset: Valuation Magazine

The Appraisal Institute’s 2022 executive team is tackling critical issues facing the valuation profession — and they’re doing so with optimism and excitement.

Jan 20, 2022 08:00 AM

New Appraisal Institute Dictionary Updated to Advance Appraisers’ Knowledge

“The Dictionary of Real Estate Appraisal,” seventh edition, published this week by the Appraisal Institute, is a landmark text that reflects the depth and breadth of appraisal knowledge. Each entry, definition and reference has been painstakingly researched and designed to express an expert understanding of issues that currently impact the profession.

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AI News

Foreclosure Activity Highest Since COVID Outbreak: Data

FHFA Seeks Input on Fiscal Year 2022-26 Strategic Plan, Feedback Due in March

Women, Millennials Driving Black Homeownership: Realtor.com

USPAP Needs Clarity Regarding Bias, Federal Law: Agencies

Increase Your Chances of Successful Property Tax Appeals, Says Appraisal Institute

Report Finds No Undervaluation of Black-owned Homes in Refis

Lower-income Households of Color Struggle With Rent: Study

Market Sentiment Concerning CRE Slips, Optimism Remains Strong, Survey Reveals

Appraisal Institute Leadership to Tackle Challenges with Strategic Mindset: Valuation Magazine

New Appraisal Institute Dictionary Updated to Advance Appraisers’ Knowledge