Industry News

Oct 06, 2020 12:30 PM

Retail, Office and Industrial Cap Rates at New Lows: Report

Cap rates in the single-tenant, net lease retail, office and industrial sectors reached record lows during the third quarter, down 19, 10 and 11 basis points, respectively, from the second quarter, real estate firm The Boulder Group reported Oct. 2 in its Q3 Net Lease Market Report. The drop is mainly due to the Fed’s announcement that interest rates will remain near zero at least through 2023.

Aug 05, 2020 12:30 PM

Fannie Mae, Freddie Mac Update Appraisal Guidance FAQ

Fannie Mae and Freddie Mac on July 29 released an updated FAQ document that provides temporary guidance to appraisers on several policy areas in response to the COVID-19 national emergency. The document updates guidance on the use of photos in reports for exterior-only appraisals and provides new guidance on UCC-1 financing statements and waivers for exterior-only or desktop appraisals.

Apr 15, 2020 12:30 PM

AI Guide Shows Appraisal Actions Allowed Under Coronavirus

The Appraisal Institute on April 9 released “Flexibilities Guide: Permissible Appraisal Requirements During COVID-19,” which helps residential appraisers navigate a multitude of reporting format allowances and requirements issued by Fannie Mae, Freddie Mac, the Federal Housing Administration, the Department of Veterans Affairs and the Rural Housing Service. It also suggests addenda language when appraisers are reporting third-party information.

Apr 15, 2020 12:30 PM

Appraisal Institute to Host Coronavirus Webinar with CRE Panel

The Appraisal Institute announced that its April 17 webinar will include a panel of leading commercial real estate appraisers who will address changing market conditions under coronavirus. The webinar can help investors, developers, financiers and other stakeholders understand buyer and seller reactions to the market and will address appraisers' short/long term considerations when evaluating property at this time.

Apr 15, 2020 12:30 PM

GSEs Publish FAQs on Temporary Policies for Mortgage Originations, Appraisals

Fannie Mae and Freddie Mac on April 8 released frequently asked questions that provide additional guidance to lenders on temporary policies that support mortgage originations, appraisals and quality control during the coronavirus pandemic. The government-sponsored enterprises will update the document as new information is available.

Apr 08, 2020 12:30 PM

AI Asks FHFA to Rethink Non-GSE Appraisal Requirements

The Appraisal Institute was one of four valuation organizations that urged the Federal Housing Finance Agency on April 6 to re-evaluate its current policies on interior and exterior inspection appraisals for refinance transactions not currently held by the government-sponsored enterprises.

Apr 08, 2020 12:30 PM

Appraisal Institute Addresses “Flawed” and “Inaccurate” White Paper on Fee Simple

“Conceptually flawed and factually inaccurate” is how the Appraisal Institute described the International Association of Assessing Officers’ white paper, “Setting the Record Straight on Fee Simple,” in its March 31 letter to the IAAO. AI cited inaccuracies and inconsistencies involving intended use/user, fee simple definition, body of knowledge guidance and in certain terms and conclusions.

Apr 08, 2020 12:30 PM

SBA Promotes Programs, Initiatives to Aid Business Owners

The Small Business Administration is promoting several programs and initiatives that were included in the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act, and are intended to assist businesses, including appraisal firms, the Appraisal Institute announced April 6. Among the programs are those for paycheck protection, EIDL loan advance, express bridge loans and debt relief.

Apr 01, 2020 12:30 PM

GSEs, Agencies Issue Coronavirus Guidance for Appraisers

The government-sponsored enterprises, agencies and other policymakers have all issued valuation guidance since March 23 to help clarify how appraisers can perform their work during the coronavirus pandemic, and all new guidance is available on the Appraisal Institute’s coronavirus page.

Apr 01, 2020 12:30 PM

AI Asks Governors, Mayors for "Stay-at-Home" Exemptions

The Appraisal Institute joined four other real estate organizations March 25 in asking state and local government leaders to include appraisers among “essential services” exempted from stay-at-home or shelter-in-place orders issued during the coronavirus pandemic.