Filtered by author: Lisa Dacres Clear Filter

CRE Prices Soar; Industrial Properties Set Record: Report

Originally published on March 6, 2022 by Michael Tucker for Mortgage Bankers Association.

Real Capital Analytics, New York, reported U.S. commercial property price growth continued to appreciate at a double-digit pace in January.

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'Alarming' Obsolescence Drives Office Building Repricing: Data

Originally published on March 9, 2022 by Randall Zisler, Ph.D. for Zisler Capital Associates.

A new economic analysis of the state of U.S. office buildings reveals that as much as 70% of the total inventory faces an alarming period of repricing due to fast-paced obsolescence, accelerated by COVID but exacerbated by evolving environmental and health standards. The underlying factors, that will get stronger over the long term, are strict new government standards for energy efficiency and growing tenant demands for healthy, safe, and energy-efficient office environments with ample modern amenities.

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Many Homes Sell for More than $100,000 Over Asking: Redfin

Originally published on March 8, 2022, by Isabelle Novak for Redfin.

Nationwide, 5,897 homes sold for at least $100,000 over asking price at the beginning of this year, up from 2,241 during the same period last year, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

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Appraisal Institute Seeks Nominations for Annual Awards; Submissions Due May 31

Originally published on March 2, 2022 by the Appraisal Institute.

The Appraisal Institute announced March 9 that it is accepting nominations for its J. Scott Robinson Lifetime Achievement, Outstanding Service Award and Women’s Initiative SPOTLIGHT Award, three ways that AI recognizes some of its brightest and most deserving professionals.

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FHFA Allots Record $1.1B for Affordable Housing Programs

Originally published on February 28, 2022, by Adam Russell for the FHFA.

 Today, FHFA Acting Director Sandra L. Thompson announced that the Housing Trust Fund and Capital Magnet Fund will receive a total of $1.138 billion for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises). This is the largest amount ever provided to these programs from the Enterprises.

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Mortgage Rates Fall Amid Global Tensions and Inflationary Concerns: Freddie Mac

Originally published on March 3, 2022, by Angela Waugaman for the Freddie Mac.

Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.76 percent.

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‘Zombie’ Properties Increase as Foreclosures Rise: Data

Originally published on February 24, 2022, by ATTOM Staff for ATTOM Data.

 ATTOM, a leading curator of real estate data nationwide for land and property data, today released its first-quarter 2022 Vacant Property and Zombie Foreclosure Report showing that 1.4 million (1,354,579) residential properties in the United States sit vacant. That represents 1.4 percent, or one in 73 homes, across the nation.

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Office Tenants Want New Construction: Cushman & Wakefield

Originally published on February 16, 2022, by Michael Boonshoft for Cushman & Wakefield.

Cushman & Wakefield, a leading global real estate services firm, today released a construction report, surveying 24 select office projects currently under construction in 12 major U.S. markets and Toronto. The report finds that new construction is commanding a significant rent premium of 64% over average Class A submarket rents, and 20% over existing top-tier trophy assets. 

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Nearly 1 in 10 US Homes Affected by Natural Disasters in 2021: CoreLogic Report

Originally published on February 17, 2022, by the Hazard HQ Team for CoreLogic.

Natural disasters are increasing in frequency and severity, impacting regions underprepared to handle an economic disruption, job displacement, and the destruction of real estate assets.

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AI Board of Directors Adopts 45-Day Notice Item During February Meeting

Originally published on March 2, 2022, for the Appraisal Institute. 

The Appraisal Institute Board of Directors voted to adopt one 45-Day Notice item during its Feb. 24-25 meeting in Chicago. The 45-Day Notice item addresses Compensation Committee Policies and Procedures.

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Mortgage Rates on the Rise Amid High Inflation, Freddie Mac Reports

Originally published on February 17, 2022, by Angela Waugaman for Freddie Mac.

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.92 percent.

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Investment in Life-science Real Estate Surges: CBRE

Originally published on February 16, 2022, by Cole Mortland for CBRE.

    Investment in U.S. life sciences real estate increased by 62 percent last year, with further growth of at least 10 percent expected in 2022, according to a CBRE research report.

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    Tertiary Markets Lure Investors Due to High Yields and Growth Opportunities: Data

    Originally published on February 14, 2022, by Beth Mattson-Teig by WealthManagement.com.

    Apartment investors are jumping at the chance to buy properties in Manhattan at 6 percent cap rates—Manhattan, Kansas, that is. Buyers that used to dismiss such tertiary markets as “flyover country” are now stopping to take a second look.

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    FHFA Requests Input on Strategic Plan for Fiscal Years 2022-2026

    Originally published on February 9, 2022, by the Federal Housing Finance Agency.

    ​Washington, D.C. – The Federal Housing Finance Agency (FHFA) today requests input on its Draft Strategic Planwhich outlines the Agency's priorities for the coming years as a regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises).

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    Foreclosure Activity Highest Since COVID Outbreak: Data

    Originally published on February 10, 2022 by the ATTOM Staff for ATTOM.

    ATTOM, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosure and distressed properties, today released its January 2022 U.S. Foreclosure Market Report, which shows there were a total of 23,204 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 29 percent from a month ago and 139 percent from a year ago.

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    Women, Millennials Driving Black Homeownership: Realtor.com

    Originally published on February 9, 2022, Jiayi Xu for Realtor.com.

    Highlights

    Black homebuyers:

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    Supply Chain, Interest Rates Put Home Affordability at 10-year Low: NAHB Index

    Originally published on February 8, 2022 by Rose Quint for NAHB.

    Supply-chain bottlenecks that put upward pressure on home prices along with rising interest rates contributed to housing affordability falling to a 10-year low.  The likelihood of higher interest rates in the months ahead (as the Federal Reserve moves to tighten interest rates) along with ongoing production challenges threaten to drive housing affordability even lower in 2022.

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    Biden Administration Creates Coalition to Improve Building Performance Standards

    Originally published on January 21, 2022 by the White House. 

    Today, President Biden announced during his remarks at the U.S. Conference of Mayors that his Administration is teaming up with states, cities, labor, and industry to launch the Building Performance Standards Coalition, the first-of-its-kind partnership between 33 state and local governments dedicated to delivering cleaner, healthier, and more affordable buildings. With nearly 20% of the nation’s building footprint in their jurisdictions, the partnership facilitates new commitments to design and implement building performance standards at the state and local level, create good-paying, union jobs, lower energy bills for consumers, keep residents and workers safe from harmful pollution, and cut emissions from the building sector. Today’s announcement builds upon the Department of Energy’s efforts to upgrade one million homes and makes progress toward President Biden’s goal to retrofit four million buildings and two million homes during his first term.

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    USPAP Needs Clarity Regarding Bias, Federal Law: Agencies

    Originally published on February 7, 2022, by NAFCU Newsroom.

    The NCUA, CFPB, and several other agencies including the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Department of Housing and Urban Development (HUD), Federal Housing Finance Agency (FHFA), and Federal Reserve Board (FRB) Friday wrote to The Appraisal Foundation (TAF), a private non-governmental entity with the sole power to set professional standards for appraisers, regarding appraisal discrimination. The agencies called out TAF for failing to “include clear warnings about the requirements of federal law in the standards it sets, and in the training it provides for appraisers.” 

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    Fannie Mae Settles Suit Over Homes in Minority Neighborhoods

    Originally published on February 7, 2022, by Lester Davis for NFHA.

    Today, the National Fair Housing Alliance (NFHA) and 20 fair housing organizations throughout the country reached a landmark $53 million agreement with Fannie Mae (formally known as the Federal National Mortgage Association). The settlement resolves the groups’ claims that Fannie Mae treated homes it owned in majority-Black and Latino communities unfavorably. The settlement will help rebuild and strengthen communities of color in 39 metropolitan areas. In the case, the plaintiffs alleged that Fannie Mae maintained and marketed its foreclosed homes in predominantly White neighborhoods while allowing homes in predominantly Black and Latino neighborhoods to fall into disrepair and that this differential treatment exacerbated the damage caused by the 2008 mortgage crisis and impeded recovery from the crisis in neighborhoods of color. The case was the first time a federal court confirmed the nation’s fair housing laws cover the maintenance and marketing of Real Estate Owned (REO) properties.

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