Written by Michael Tucker
The national office market continues to improve, largely due to a strong job market with just a 3.9 percent unemployment rate, reported Transwestern, Houston.
By Ben Lane
One of the vestiges of the financial crisis is now officially in the past.
By Karan Kaul
First-time homebuyers face a difficult housing market: high prices, low supply, tight credit, and renting costs that make it difficult to save for a down payment. But compared with repeat buyers, first-timers have dominated the mortgage market for the past 10 years, and their share today is still high. We don’t see this changing anytime soon.
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates decreased slightly for the second consecutive week.
Sam Khater, Freddie Mac’s chief economist, says mortgage rates remained mostly flat over the past week, which has been the dominant theme since late spring. “This stability in borrowing costs comes despite the highest core inflation rates since 2008 and turbulence in the currency markets,” he said. “Unfortunately, this pause in rates is not leading to increasing home sales.”
A new analysis by Freddie Mac (OTCQB: FMCC), finds that the strong performance experienced by the multifamily market in the first half of 2018 will continue throughout the end of the year and well into 2019. The findings were released as part of Freddie Mac Multifamily’s 2018 Mid-Year Outlook pdf and companion video. The Outlook predicts that in 2018, multifamily origination volume is expected to grow by 3.3 percent to $305 billion.
In the Outlook, Freddie Mac Multifamily Research and Modeling vice president Steve Guggenmos and manager Sara Hoffmann find that overall, the multifamily market continues to experience very healthy performance. While fundamentals have started to moderate over the past few years, the factors most critical to market strength continue to remain strong, for example, with rents rising above inflation and vacancy rates only increasing slowly.
By Michael Tucker
Commercial real estate executives see "balanced and stable" market conditions despite growing concerns the market could be nearing the end of its current cycle, the Real Estate Roundtable reported.
By Patricia Kirk
Industrial developers in coastal U.S. markets are cashing in on the extraordinarily high demand by small businesses for for-sale modern warehouse facilities of between 25,000 and 40,000 sq. ft.
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced it has hired Jim Amorin, MAI, SRA, AI-GRS, of Austin, Texas, as its chief executive officer after a nearly year-long search.
“Jim did an outstanding job as acting CEO, and we’re fortunate to have his leadership going forward,” Appraisal Institute President James L. Murrett, MAI, SRA said. “His experience in many Appraisal Institute leadership roles makes him highly qualified for this position, and I look forward to continuing to work with him.”
The Federal Housing Finance Agency extended the public comment period for the Agency's proposed rule on Enterprise Capital Requirements by an additional 60 days, citing "high level of interest in the proposed rule and requests from multiple stakeholders for more time to evaluate it."
The previous deadline for comments was September 17; the new deadline is November 16.
President Trump on July 31 signed legislation that extends the National Flood Insurance Program by four months — until Nov. 30, the White House reported. The extension gives lawmakers a small window to craft a longer-term extension for the program, which is underfunded by about $20 billion.
Written by Patricia Kirk
While new office construction has been robust so far in 2018, next year developers might begin pulling back, according to David Bitner, head of Americas capital markets research with real estate services firm Cushman & Wakefield. He cites rising construction costs, concerns about the end of the real estate cycle and zoning issues as the reasons.
Craig M. Harrington, SRA, AI-RRS, of Prior Lake, Minnesota; and Leslie P. Sellers, MAI, SRA, AI-GRS, of Clinton, Tennessee, were honored Tuesday with the Appraisal Institute’s Lifetime Achievement Award and Timothy P. Runde, MAI, of San Francisco, was named the recipient of the Outstanding Service Award during the Appraisal Institute Annual Conference in Nashville, Tennessee.
Two individuals also were announced as winners of the annual President’s Award from the Appraisal Institute, the nation’s largest professional association of real estate appraisers with nearly 18,000 professionals in almost 50 countries. Additionally, eight individuals were honored by the Appraisal Institute Education and Relief Foundation, the Appraisal Institute’s charitable organization that offers education scholarships and disaster assistance to appraisers.
NASHVILLE, Tennessee (July 30, 2018) – More than 550 real estate professionals from around the world today attended the opening session of the valuation profession’s most important annual event, hosted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.
The 2018 Appraisal Institute Annual Conference, being held at the downtown JW Marriott Nashville today through Wednesday, features world-renowned keynote speakers, nearly 30 breakout sessions on trend-setting valuation topics, networking opportunities for industry professionals, an exhibit hall featuring cutting-edge products and services, and an awards ceremony honoring the valuation profession’s best and brightest.
Written by Michael Tucker
Commercial real estate asset prices have "plateaued" and transaction volume has moderated as the real estate cycle matures, reported Green Street Advisors, Newport Beach, Calif., and CoStar, Washington, D.C.
Some Fed districts reported moderate improvements in the residential real estate sector, but their reports on commercial activity revealed largely stagnant conditions, the Federal Reserve reported July 18 in its newest Beige Book.
Congratulations to NCAI member Scott Robinson, MAI, SRA, AI-GRS, AI-RRS, who was presented with the Appraisal Institute President’s Award today at the Institute’s National Meetings in Nashville! Scott was the President of the Appraisal Institute in 2016 and has been integral to the success of the organization at the state, national, and global levels before, during, and after his Presidency. Scott has chaired multiple committees at the national level and continues his service to the organization by leading the CEO search. The North Carolina Chapter is proud of Scott and his many accomplishments!
Written by Kelsey Ramirez
Last Wednesday, Federal Reserve Chair Jerome Powell had his second hearing this week, this time before the House Committee on Financial Services for his semi-annual monetary policy report.
The Appraisal Institute today announced its opposition to proposed federal legislation that would reduce the requirements for appraisals in major Small Business Administration loan programs.
The Appraisal Institute objects to the provisions of H.R. 6347, the 7(a) Real Estate Appraisal Harmonization Act, and H.R. 6348, the Small Business Access to Capital and Efficiency Act, both of which would adjust upward the real estate appraisal thresholds for SBA loan programs. An appraisal threshold is the amount of a real estate transaction above which an appraisal is required.
