Appraisal Institute News | Appraisal Institute

Aug 21, 2019 12:30 PM

AI Opposes Banks' Residential Appraisal Threshold Increase

Federal banking regulators on Aug. 20 approved a final rule to increase the residential appraisal threshold from $250,000 to $400,000, effective after publication in the Federal Register, which should happen within days.

Aug 21, 2019 12:30 PM

FHA Passes Condo Approval Rule to Promote Ownership

The Federal Housing Administration on Aug. 14 published a final regulation establishing new condominium approval rules, notably allowing some individual condo units to be eligible for FHA mortgage insurance even if the condo project is not FHA approved. The regulations, which take effect Oct. 15, also permit more mixed-use projects to qualify for FHA insurance.

Aug 21, 2019 12:30 PM

US Office Sector Has Momentum; Second Quarter Vacancy Rate Hits 18-year Low: CBRE

The U.S office market experienced significant growth during the second quarter, with vacancy dropping to an 18-year low of 12.2%, according to real estate services firm CBRE, National Real Estate Investor reported Aug. 14. The market absorbed 17.1 million square feet, bringing the year-to-date total to 66.5 million square feet.

Aug 14, 2019 12:30 PM

US Farmland Value Increases Average of $60 Per Acre: USDA

The average value of U.S. farm real estate is $3,160 per acre, up from $3,100 per acre in 2018, according to the U.S. Agriculture Department’s 2019 Land Values Summary released Aug. 6, Ag Professional reported. The per-acre average for cropland also increased, while the per-acre average for pastureland reached a record $1,400.

Aug 14, 2019 12:30 PM

GSE Reform Mostly Complete, Former Freddie Mac CEO Says

The government-sponsored enterprises have almost been restored to a condition where they can be privatized without legislative input from Congress, according to the paper “GSE Reform: None or Mostly Done?”, authored by Donald Layton and released Aug. 7 by the Joint Center for Housing Studies at Harvard University. Layton resigned as Freddie Mac CEO last month.

Aug 14, 2019 12:30 PM

Multifamily Sector Going Strong, Expected to Continue Through 2020: Freddie Mac

The multifamily market has performed above average during the first half of the year, with especially strong performance during the second quarter, which is expected to continue through 2020, Freddie Mac reported Aug. 8 in its Multifamily Midyear Outlook. Low interest rates are expected to increase demand for multifamily investments and drive up origination volume.

Aug 07, 2019 12:30 PM

Court Grants Stay of Motion in FTC Case Against LREAB

A Louisiana court on July 29 granted a motion to stay in the Federal Trade Commission’s case against the Louisiana Real Estate Appraisers Board in which it alleged the LREAB illegally determined a floor for appraiser prices. The court ruled that, among other things, continuing the case would hamper the state’s ability to make and enforce policies.

Aug 07, 2019 12:30 PM

ASB Mulls Evaluations Standards; Paper Expected Soon

The Appraisal Standards Board of The Appraisal Foundation on Aug. 1 announced its intention to explore the creation of uniform standards for evaluations. The ASB said that since no standards exist for conducting evaluations, there is greater risk to the safety and soundness of real estate transactions and diminished protections for consumers. A concept paper is expected near Labor Day.

Aug 07, 2019 12:30 PM

FASB Proposes to Delay, Stagger Lease Accounting Standards Dates: Advisory Firm

The Financial Accounting Standards Board voted Aug. 1 to tentatively stagger effective dates for major accounting standards and to defer new standards on lease accounting and credit losses, advisory firm CohnReznick reported. The effective date of the new standard has tentatively been deferred to periods beginning after Dec. 15, 2020, for most entities.

HUD Halts Rule Change for FHA Down Payment Assistance

The U.S. Department of Housing and Urban Development on July 23 suspended “until further notice” a rule change made in April that affects its down payment assistance guidelines for Federal Housing Administration loans, HousingWire reported. A federal judge in Utah had ordered the suspension pending confirmation of the program’s legality.

AI News