Originally published on December 23, 2022, b
The Federal Housing Finance Agency (FHFA) isn’t doing all that it can to prevent appraisal bias, according to the agency’s Office of Inspector General.
Originally published in Janaury 2023 by the Farmers National Company.
Demand for farmland has resulted in both record sales and land values, which are up 20-34% year-over-year, according to a Kansas City Federal Reserve report, Farmers National Company reported Jan. 6. Sales volume totaled $766 million in 2022, beating the record $750 million set in 2021. The outlook for 2023 shows continued strong sales.
Originally published on December 6, 2022, by Stephanie Pagan and Elizabeth Thompson for the National Association of Home Builders.
The big jump in single-family home building activity that occurred in the aftermath of the COVID-19 pandemic in large metro outlying counties and exurban areas has shown a marked decline over the past 12 months, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) for the third quarter of 2022.
Originally published on December 8, 2022, by Andrea Neculae for RentCafe.com.
So, to fully grasp how much adaptive reuse had grown in recent years, we compared the latest figures to the rate of growth in traditional new apartment construction. Our analysis shows that adaptive reuse apartments were growing faster than new apartments — 25% versus 10% — during the same timeframe.
Originally published on December 6, 2022, by the IRS.
The Treasury Department and Internal Revenue Service today issued proposed regulations identifying certain syndicated conservation easement (SCE) transactions as "listed transactions" – abusive tax transactions that must be reported to the IRS.
We’d like to welcome our new members who joined the Chapter in 2022! The newest members who joined in Q4 are Ernest Christopher Alford, III; David M. Aneser; Jack Branch; Olivia Hamilton; Walker Taylor Jones; Jesse A. Martinez; Linda Gail Nelson; and Tunisia Whitaker.
On December 1, 65+ members & guests celebrated at the 2022 2022 J. Scott Robinson Installation Ceremony & Q4 Chapter Business Meeting held at the Foundation for the Carolinas in Charlotte.
Vanessa Hall, MAI gave her final address as the 2022 President and the 2023 officers were installed, including incoming President, Jim Lynch, MAI. Members mixed and mingled, enjoyed food and drinks and free professional headshots, and purchased raffle tickets to help raise money for the NC Chapter PAC – with Chris Johnson, MAI, SRA, AI-GRS, ASA winning the raffle drawing! PAC funds go towards the Chapter’s efforts to broaden our outreach and influence in Raleigh to advocate on behalf of appraisers, taking positions and working with legislators toward favorable results for the industry. The event also highlighted the most recent members who received designations in 2022 including Keith P. Bolte, Jr., MAI (MAI designation); Erica L. Butler, MAI (MAI designation); Eric L. Randall, SRA (SRA Designation); and Jamie L. Vogel, SRA (SRA Designation).
Fellow NCAI Members,
As the year closes, the North Carolina Chapter of the Appraisal Institute celebrates a great 2022! I would like to start with some thanks: Thank you to the NCAI Executive Committee – Jim, Mike, Kelli, and the Board of Directors – your support has allowed me to implement new ideas to help benefit the Chapter. Thanks to all our Region V Representatives that made themselves available not just for the quarterly meetings, but also for several special meetings this year. Thank you to our Chapter Members. Thank you to Efird Appraisals for being an annual sponsor this year. And a final thank you goes out to Sandy Hower and THM for their excellence in executive management and administration.
Originally published on December 1, 2022, by Angela Waugaman for Freddie Mac.
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.49 percent.
The Appraisal Institute on Dec. 1 released its latest episode of the Face Value podcast, “AI PAREA: Opportunities for Future Appraisers and Mentors.” Host Warren Boizot, SRA, AI-RRS, talks with AI Vice President Sandy Adomatis, SRA, about how AI professionals with an MAI or SRA designation can get involved as mentors and the many opportunities available to aspiring appraisers.
Originally published on November 29, 2022 , by Patricia Kirk for WealthManagement.com.
The past year has brought more cannabis legalization in the United States. But is legalization turning into greater real estate investment opportunities?
Originally published on November 30, 2022, by the Board of Governors of the Federal Reserve System.
Residential sales fell during the past month amid high interest rates, dropping moderately in some parts of the country but much more steeply in others, the Federal Reserve reported Nov. 30 in its latest Beige Book. Commercial sales and leasing have also softened, and vacancies continue to climb.
Originally published on December 22, 2023, by James Kleimann for HousingWire.
The Federal Housing Finance Agency (FHFA) isn’t doing all that it can to prevent appraisal bias, according to the agency’s Office of Inspector General.
The Appraisal Institute Board of Directors on Nov. 22 sent to 45-Day Notice proposing amendments to Appraisal Institute Bylaws governing the nomination and election of officers (AI log-in required).
Originally published on November 22, 2022, by the U.S. Department of Housing and Urban Development.
The Federal Housing Administration in its Nov. 22 Mortgagee Letter 2022-19 rescinded the Mandatory Use Date for the FHA Catalyst: Electronic Appraisal Delivery Module. This action rescinds the mandatory use date for mortgagees to submit appraisals for single-family Title II mortgage endorsements through the FHA Catalyst: EAD Module, which is being discontinued. Starting Oct. 14, 2023, appraisals must be submitted through FHA’s non-Catalyst, legacy EAD portal.
Originally published on November 22, 2022, by ATTOM.
ATTOM, a leading curator of real estate data nationwide for land and property data, today released its 2022 Grocery Store Wars analysis, which shows how living near a Trader Joe’s, a Whole Foods or an ALDI might affect a home’s value – as a homebuyer based on home price appreciation and home equity, or as an investor looking for the best home flipping returns and home seller ROI.
Originally published on November 29, 2022 by the Federal Housing Finance Agency.
The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most of the United States, the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 2022.
Originally published on November 17, 2022 by th Appraisal Institute.
The Appraisal Institute announced today that CEO Jim Amorin, MAI, SRA, AI-GRS, will resign effective Feb. 14, 2023. He will conclude five years of service as the organization’s CEO and is moving on to pursue other opportunities.
Originally published on November 15, 2022 by Lynn Pollack for GlobeSt.com.
An increasing number of voters supported affordable housing initiatives during the midterm elections, with some measures receiving more than 70% of the vote in both red and blue states, according to a review from Moody’s Analytics, GlobeSt.com reported Nov. 15. In Austin, Texas, for example, voters approved a $350 million bond, as affordable housing currently makes up just 6% of the city’s rental market.
Originally published on November 17, 2022 by Elizabeth Thompson and Stephanie Pagan for the National Association of Home Builders.
Elevated mortgage rates, high construction costs for concrete and other building materials and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production.
