Where do you live and who do you work for?
I am from and have lived in Gastonia, NC (Gaston County) all of my life. Currently (LOL) I work for Miles Hamrick Appraisal Services, Inc. My firm provides appraisals for commercial and residential properties, and data consulting services for private and public institutions on a wide range of property types.
How long have you been appraising?
I have been in the real estate and appraisal profession since 1986 ~ (38 years~).
Originally published on June 27, 2022 by the Supreme Court.
The Supreme Court on June 27 rejected a case involving the use of floor plans in marketing materials. Multiple real estate firms petitioned the court to review the case, contending the Eighth Circuit incorrectly ruled that using floor plans in marketing materials constituted a copyright violation. In April, the Appraisal Institute joined an Amicus Brief filed with the Supreme Court over concerns that appraisers could be sued for making floor plans of a home. (see p. 9, COLUMBIA HOUSE item).
Originally published on June 17, 2022, by Rohit Chopra for CFPB.
Markets work best when rules are simple, easy to understand, and easy to enforce. The CFPB is seeking to move away from highly complicated rules that have long been a staple of consumer financial regulation and towards simpler and clearer rules. In addition, the CFPB is dramatically increasing the amount of guidance it is providing to the marketplace, in accordance with the same principles.
Originally published on June 22, 2022 by Robin Wachner for CoreLogic.
IRVINE, Calif., June 22, 2022—CoreLogic®, leading global property information, analytics, and data-enabled solutions provider, today released its 2022 Hurricane Report, which analyzes hurricane and storm surge and wind risk exposure for single-family residences (SFRs) and multifamily residences (MFRs) along the U.S. Gulf and Atlantic Coasts.
The 2022 AI Leadership and Development Conference (LDAC) was held May 18-20 this year and NCAI had three that attended: Mike Elwell, Greyson Morgan, and Peter Hitchens. Greyson and Peter were first years and had the benefit of Mike Elwell who attended before the pandemic.
LDACstarted with a presentation from Melody Taylor regarding the recently published Property Appraisal and Valuation Equity Task Force (PAVE) Report. While AI suggests the data should be reviewed more, the overall report helps to educate stakeholders about the appraisal process.
We’d like to welcome our newest members to the Chapter!
Originally published by Lynn Pollack on June 13, 2022, for The GlobeSt.com.
While home prices are responding to higher mortgage rates, there is “little evidence of a housing bubble that is about to burst,” according to a new report from Moody’s Analytics.
Originally published on June 15, 2022, by Michael Tucker for the Mortgage Banker's Association.
STR and Tourism Economics upgraded their recovery timeline for U.S. hotel revenue per available room.
The Appraisal Institute Board of Directors on June 20 sent to 45-Day Notice proposed amendments to Appraisal Institute Bylaws and Regulation No. 9, an exposure draft of the proposed regional election policy. (AI log-in required).
Originally published on June 13, 2022, by Zainab Fattah and Jack Sidders for Bloomberg.
The US and European real estate markets are experiencing a downwards shift in prices as buyers fall away, according to the global chief investment officer of Hines, one of the largest closely held real estate investors in the world.
Originally published on June 8, 2022, by the Federal Housing Finance Agency (FHFA).
The Federal Housing Finance Agency (FHFA) today announced the release of Fannie Mae's and Freddie Mac's (the Enterprises) Equitable Housing Finance Plans for 2022-2024. These plans are designed to complement the initiatives outlined in FHFA's Strategic Plan: Fiscal Years 2022–2026 that promote the Enterprises' safety and soundness and foster housing finance markets that provide equitable access to affordable and sustainable housing.
Originally published on May 23, 2022, by Maria Volkova for HousingWire.
A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran Affairs‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals altogether. Currently, all VA appraisals must be performed in-house.
Originally published on June 7, 2022, by Jack Rogers for GlobeSt.com.
A joint research team from NYU and Columbia University studying the impact of remote work on office properties says office buildings will lose 28% of their value by 2029 if remote/hybrid work patterns become the norm.
Originally published on June 9, 2022, by Elizabeth Thompson and Stephanie Pagan for NAHB.
Regulation imposed by all levels of government accounts for an average of 40.6 percent of multifamily development costs, according to new research released today by the National Association of Home Builders (NAHB) and the National Multifamily Housing Council (NMHC).
Originally published on Mary 31, 2022, by Erik Sherman for GlobeSt.com.
As the Census Bureau analysis continues on the 2020 decennial count of the country, there are more specific data on the general trend that virtually anyone in commercial real estate knows: people are moving from various parts of the country to the Sun Belt and West.
Originally published on May 31, 2022, by Michael Tucker for the Mortgage Bankers Association.
CBRE, Dallas, raised its hotel performance forecast based on first-quarter strength, slow construction activity, higher inflation and continued optimism about employment and economic growth.
Cap rates in the net lease casual dining sector decreased to 6.03% during the first quarter, down 70 basis points from the same point a year ago, The Boulder Group reported on June 1 in its Q1 2022 Net Lease Casual Dining Market report. Casual dining properties with corporations guaranteeing the lease saw cap rates of 5.75%, while franchisee properties had cap rates of 6.4%.
Originally published on May 23, 2022, by the Federal Reserve Bank of Philadelphia.
Residential sales remained flat or contracted slightly in most Fed districts as low inventory and high mortgage rates dampened homebuyer demand, the Federal Reserve revealed on June 1 in its latest Beige Book. Many districts reported mixed commercial real estate activity, but demand for industrial and warehouse space was on the rise in multiple districts.
Where do you live and who do you work for?
I live in Charlotte, NC, and work for BBG.
How long have you been appraising?
I have been an NC Registered Trainee since last July (2021).
Originally published on May 23, 2022, by Maria Volkova for HousingWire.com.
A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran Affairs‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals altogether. Currently, all VA appraisals must be performed in-house.
