Appraisal Institute News

Mar 31, 2021 12:30 PM

Demand For Office Space Improves a Year into Pandemic, Recovery Likely, Index Shows

Demand for office space remains 38% lower than just before the pandemic lockdown — but that’s an improvement from last May when demand was 85% lower than pre-pandemic levels, commercial real estate leasing firm VTS reported March 24 in its Office Demand Index. Significant gains in January and February indicate that a recovery is coming.

Mar 24, 2021 12:30 PM

Nearly 50% of Americans Missed Housing Payments: Data

Forty-six percent of Americans missed at least one mortgage or rent payment since the beginning of the coronavirus pandemic, and 25% missed more than one payment, according to survey results released March 11 by personal finance website GOBankingRates. The data showed that the missed payments likely were the result of layoffs and reduced work hours.

Mar 24, 2021 12:30 PM

Economy Likely to Grow, Housing to Remain Stable: Report

Gross domestic product and employment should expand during the coming months, and interest rates are expected to rise but have a nominal effect on home sales, Fannie Mae reported March 17 it its Economic & Housing Outlook report. Fannie expects single-family home sales to be slightly lower this year than last, and anticipates an uneven year for multifamily properties.

Mar 24, 2021 12:30 PM

Fed Says Financial Conditions Remain "Accommodative," No Rate Hikes Expected

The Federal Open Market Committee said that the country’s overall financial conditions remain “accommodative” and noted that they do not expect any increase in the federal funds rate until 2023, MBA NewsLink reported March 17. The FOMC is still concerned about the effects of the coronavirus pandemic on the economy, but acknowledged that activity is improving.

Mar 17, 2021 12:30 PM

FHFA Further Extends Alternative Appraisals Due to COVID-19

The Federal Housing Finance Agency announced March 11 that Fannie Mae and Freddie Mac will extend until April 30 flexibilities for alternative appraisals on purchase and rate term refinance loans. Other flexibilities that are being extended include alternative methods for income and employment verification, and expanded use of power of attorney.

Mar 17, 2021 12:30 PM

MISMO Seeks Comments on Commercial Appraisal Dataset

The Mortgage Industry Standards Maintenance Organization announced March 11 that it will accept comments until March 26 on proposed enhancements to the Commercial Appraisal Dataset. The new dataset aims to make exchange of commercial appraisal information more efficient, and will include new building level data points and additions for non-multifamily properties.

Mar 17, 2021 12:30 PM

Office Values Could Drop Significantly if Employees Continue to Work From Home: Fitch

If employees don’t go back to the office once the pandemic ends, there could be a permanent decline in the demand for space and a significant drop in commercial property values, according to the results of stress tests on how telecommuting might affect space demand, rent and net cash flow that data firm Fitch Ratings conducted and reported on March 10.

Mar 10, 2021 12:30 PM

Mall Values Drop 60% After Reappraisals, Data Shows

Mall values in the U.S. dropped an average of 60% last year after appraisals of 118 retail-anchored properties revealed nearly $4 billion in lost value, Bloomberg reported March 1. The properties all have commercial mortgage-backed securities debt, and the reappraisals were triggered by payment delinquencies, defaults or foreclosures.

Mar 10, 2021 12:30 PM

All Appraisers Must Take Fair Housing and Bias Course: TAF

The Appraisal Foundation will mandate that all appraisers take a 7-hour course addressing fair housing laws and bias, HousingWire reported March 3. The course will be released later this year and will focus on how the Uniform Standards of Professional Appraisal Practice addresses these issues and it will include test exercises and case studies.

Mar 10, 2021 12:30 PM

CRE Sector Sees Price Growth, but Fewer Deals in January: Real Capital Analytics

The prices for commercial properties in the U.S. grew again in January, reaching a level of growth that hasn’t been seen since before the coronavirus pandemic, according to data firm Real Capital Analytics, MBA NewsLink reported March 1. However, as prices grew, deal volume shrank, but the number of destressed sales remains low.

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AI News

Demand For Office Space Improves a Year into Pandemic, Recovery Likely, Index Shows

Nearly 50% of Americans Missed Housing Payments: Data

Economy Likely to Grow, Housing to Remain Stable: Report

Fed Says Financial Conditions Remain "Accommodative," No Rate Hikes Expected

FHFA Further Extends Alternative Appraisals Due to COVID-19

MISMO Seeks Comments on Commercial Appraisal Dataset

Office Values Could Drop Significantly if Employees Continue to Work From Home: Fitch

Mall Values Drop 60% After Reappraisals, Data Shows

All Appraisers Must Take Fair Housing and Bias Course: TAF

CRE Sector Sees Price Growth, but Fewer Deals in January: Real Capital Analytics