Appraisal Institute News

Feb 09, 2022 08:30 AM

Fannie Mae Settles Suit Over Homes in Minority Neighborhoods

Fannie Mae reached a $53 million settlement with the National Fair Housing Alliance and 20 other organizations on Feb. 7, resolving allegations that it treated homes it owned in majority-Black and Latino communities unfavorably. Fannie Mae was accused of maintaining foreclosed homes in predominantly white neighborhoods while allowing those in predominantly Black and Latino neighborhoods to fall into disrepair.

Feb 09, 2022 08:30 AM

Biden Administration Creates Coalition to Improve Building Performance Standards

The Biden administration announced Jan. 21 that it launched the Building Performance Standards Coalition, which is comprised of state and local governments and labor and industry leaders to deliver healthier and more affordable buildings. The coalition builds on the administration’s effort to retrofit four million buildings and two million homes for energy efficiency during the president’s first term.

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 26, 2022 08:30 AM

Report Explores USPAP, AQC Inclusiveness and Objectivity

The National Fair Housing Alliance, under contract by the Appraisal Subcommittee and the Council on Licensure, Enforcement and Regulation, on Jan. 19 released its report on whether the Uniform Standards of Professional Appraisal Practice and Appraiser Qualifications Criteria support or promote fairness, equity, objectivity and diversity in both appraisals and the training and credentialing of appraisers. The findings and recommendations are far reaching, and some will require legislative action.

Jan 26, 2022 08:30 AM

Fannie Mae to Allow Desktop Appraisals Starting March 19

Starting March 19, Fannie Mae will allow desktop appraisals for select properties based on property tax records and past sales, HousingWire reported Jan. 19. To be eligible, a loan must be a purchase transaction on a single-unit principal residence with a loan-to-value ratio not to exceed 90%.

Jan 26, 2022 08:30 AM

Office Sector Now Reporting More Expansion than Contractions: CBRE

Companies are expanding their current offices or relocating to a better space within their market rather than renewing an expiring lease, according to CBRE’s new office leasing report, MBA NewsLink reported Jan. 17. Office expansions are up 24% in the six major markets featured in the report and relocations are up 33%; contractions, meanwhile, are down 5%.

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AI News

Fannie Mae Settles Suit Over Homes in Minority Neighborhoods

Biden Administration Creates Coalition to Improve Building Performance Standards

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

Report Explores USPAP, AQC Inclusiveness and Objectivity

Fannie Mae to Allow Desktop Appraisals Starting March 19

Office Sector Now Reporting More Expansion than Contractions: CBRE