Appraisal Institute News | Appraisal Institute

Court Denies Louisiana Appraisers Board Petition for Review

The United States Court of Appeals for the 5th Circuit dismissed on Feb. 28 the Louisiana Real Estate Appraisers Board’s petition for review of a Federal Trade Commission decision that disallowed the LREAB from asserting its state-action immunity defense in ongoing administrative proceedings. The court ruled that it did not have jurisdiction to consider the petition.

Feb 27, 2019 12:30 PM

No Hearing on Residential Appraisal Threshold Increase

The Appraisal Institute on Feb. 19 received notice from the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency that a request for a hearing on the proposal to raise the residential appraisal threshold from $250,000 to $400,000 was denied.

Feb 27, 2019 12:30 PM

California Solar Rule Could Add $10K to New Home Prices

California will require solar panels on all new homes starting next year, and the mandate could increase property prices by $8,000 to $10,000 and hurt affordable housing, according to the California Energy Commission, CNBC reported Feb. 17. However, homeowners are expected to recoup costs through lower utility bills.

Feb 27, 2019 12:30 PM

Co-living Units Average Higher Rents, Net Incomes Than Regular Apartments: Report

Demand for co-living properties is high, with rental income averaging 44 percent more per square foot than conventional apartments in the same building, and average net operating incomes about 30 percent higher per square foot, even after accounting for the costs of amenities like Wi-Fi and housekeeping, National Real Estate Investor reported Feb. 19.

Feb 20, 2019 12:30 PM

CFPB Releases List of Rural and Underserved Counties

The Consumer Financial Protection Bureau on Feb. 12 released its 2019 list of rural and underserved counties, which those entities can use to determine if they are exempt from certain appraisal and ability-to-pay rules.

Feb 20, 2019 12:30 PM

Court Sides With Zillow, Affirms Zestimate not an Appraisal

The U.S. 7th Circuit Court of Appeals ruled Feb. 12 that Zillow is correctly marketing its Zestimate as an estimate and not an appraisal, GeekWire reported. A group of Illinois homeowners sued Zillow claiming that the Zestimate tool was marketed as being equivalent to an appraisal and was undervaluing their homes.

Feb 20, 2019 12:30 PM

Amazon Drops Plans for New Campus in New York City Following Local Criticism

Amazon announced Feb. 14 that it was scrapping plans for a headquarters campus in New York City following backlash from union leaders, activists and lawmakers, Reuters reported. Amazon would have received $3 billion in incentives for opening a site in Long Island City. The e-commerce giant had not made any land acquisitions.

Feb 13, 2019 12:30 PM

Tech Companies May Steal Business from Banks: Fannie Mae

More consumers are willing to trust their financial needs — including mortgage applications — to tech firms than to banks, Fannie Mae reported Feb. 5. Research showed that tech companies overall weren’t more trustworthy, just the ones consumers cited as their favorites, such as Amazon, Apple and Google.

Feb 13, 2019 12:30 PM

IRS Proposes "Safe Harbors" for Pass-through Deductions

The IRS on Feb. 4 released proposed safe harbor rules that clarify the types of rental real estate that qualify for an income deduction of up to 20 percent from pass-through entities, National Real Estate Investor reported. While the 2017 Tax Cuts and Jobs Act allows the deduction, confusion exists around eligibility and limitations.

Feb 13, 2019 12:30 PM

HUD Cites Mortgage Backing and New Finance Options Among 2018 Achievements

Nearly 669,000 single-family homebuyers found mortgage backing through the Federal Housing Administration last year, a highlight noted in the U.S. Department of Housing and Urban Development’s Year in Review report released Feb. 1. HUD also cited the introduction of new financing options for victims of natural disasters to rebuild or buy another home.

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