Appraisal Institute News

Dec 14, 2022 11:30 AM

Some Conservation Easement Transactions Abusive: IRS

The IRS and Treasury Department on Dec. 6 proposed regulations listing certain syndicated conservation easement transactions as abusive tax transactions that must be reported to the IRS. The announcement said, in part, that investors typically acquire an interest in a partnership that owns land and then claim an inflated charitable contribution deduction based on a grossly overvalued appraisal.

Dec 14, 2022 08:30 AM

Medical Office Sector Resilient Amid Slowdown: Colliers

Medical office buildings remain investor favorites despite the sector seeing lower transaction volume, according to Colliers, GlobeSt.com reported Dec. 6. Investors are eyeing outpatient surgery centers and behavioral health facilities, and are targeting cities in Sun Belt states where the need for hospital beds, medical office space and other ancillary healthcare real estate is growing.

Dec 14, 2022 08:30 AM

Housing Forecast Shows Slowing Sales, Lower Prices: Redfin

The housing market is expected to remain sluggish next year, likely dropping to its slowest sales pace since 2011, Redfin reported Dec. 6 in its 2023 Housing Outlook. The outlook forecasts a 16% decline in existing home sales, a 4% drop in the median home price and mortgage rates that gradually decline to around 5.8%.

Pending Home Sales Fall for 5th Consecutive Month: NAR

Pending home sales fell 4.6% between September and October, dropping for the fifth consecutive month, the National Association of Realtors reported Nov. 30. Sales activity fell in three of the nation’s four major regions, rising only in the Midwest.

Dec 07, 2022 08:00 AM

Salt Lake City Tops for Multifamily Investors: CBRE  

Salt Lake City and California’s Orange County and Inland Empire are becoming favorite markets for multifamily investors seeking less competition and better returns than what’s available in the hot Sun Belt markets, CBRE reported Nov. 30. While year-to-date multifamily investment is up 22% through the third quarter, activity has slowed.

Dec 07, 2022 08:00 AM

Housing Costs Up, Competition Down in 2023: Realtor.com

Home prices are expected to moderate next year, increasing only about 5% while mortgage rates could reach 7.4%, two actions that may result in fewer buyers for a growing inventory of for-sale properties, Realtor.com reported Nov. 30 in its 2023 Housing Forecast. Additionally, rents are likely to go up 6.3%, outpacing home prices.

Nov 16, 2022 08:00 AM

Commercial and Multifamily Mortgage Loan Originations Decline in Q3: Survey

After a strong start to the year, commercial and multifamily mortgage loan originations during the third quarter were down 13% from the same point a year ago, MBA NewsLink reported Nov. 10. Originations in the commercial mortgage-backed-securities market were down nearly 75% from a year earlier, but originations by banks and other depositories were up 25%.

Nov 16, 2022 08:00 AM

Housing Key Concern as Military Return to Civilian Life: Report

Sixty-four percent of active duty servicemembers returning to civilian life expect their search for affordable housing to be extremely or somewhat challenging, Freddie Mac reported Nov. 10 in its Active-Duty and Veteran Housing Landscape survey. However, 87% of respondents are aware of the benefits of VA home loans, and 90% plan to use one to buy a property.

Nov 16, 2022 08:00 AM

Minority Homeownership up Sharply During Pandemic: Fed Data

The pandemic housing boom showed significant increases in homeownership rates among Black, Asian and Latino households, according to an analysis of federal data, The Washington Post reported Nov. 1. The fact that millennials were able to save money during the pandemic was cited as a key factor.

Oct 12, 2022 08:30 AM

Property Damage from Hurricane Ian Could Reach $47 Billion, CoreLogic Reveals

Wind and storm surge damage from Hurricane Ian is expected to total between $28 billion and $47 billion, making it the costliest Florida storm since Hurricane Andrew, CoreLogic reported Sept. 29. Wind damage for both commercial and residential properties is expected to total between $22 billion and $32 billion while storm surge damage could total $6 billion to $15 billion.

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AI News

Some Conservation Easement Transactions Abusive: IRS

Medical Office Sector Resilient Amid Slowdown: Colliers

Housing Forecast Shows Slowing Sales, Lower Prices: Redfin

Pending Home Sales Fall for 5th Consecutive Month: NAR

Salt Lake City Tops for Multifamily Investors: CBRE

Housing Costs Up, Competition Down in 2023: Realtor.com

Commercial and Multifamily Mortgage Loan Originations Decline in Q3: Survey

Housing Key Concern as Military Return to Civilian Life: Report

Minority Homeownership up Sharply During Pandemic: Fed Data

Property Damage from Hurricane Ian Could Reach $47 Billion, CoreLogic Reveals