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Inflation Causing Global Drop in Property Values: Report

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.

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AI Board of Directors Adopts 45-Day Notice Items During May Meeting

Originally published on May 18, 2022, by the Appraisal Institute.

The Appraisal Institute Board of Directors voted to adopt four 45-Day Notice items during its May 12-13 meeting in Chicago. The 45-Day Notice items address Bylaws modernization, the Candidate for Designation program, alternate chapter representatives to regional committees and proposed amendments to the Appraisal Institute Code of Professional Ethics and Explanatory Comments to the Code of Professional Ethics.

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AI Releases First Face Value Podcast with Episode About Unusual Assignments

Listen to Face Value, the official podcast of the Appraisal Institute. Join rotating hosts Warren Boizot, SRA, AI-RRS, and Tonia Vailas, MAI, AI-GRS, each month as they share appraiser experiences, insights, and stories with other credible experts in the valuation profession. Tune in as they dive into the latest trends, news, association updates, and more. Don't miss out on appraisal news you won’t find anywhere else, all delivered at face value.

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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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Student Housing Resilient; 2022 Looks Promising: Report

Originally published on January 11, 2022, by Michael Tucker for Mortgage Bankers Association.

Yardi Matrix, Santa Barbara, Calif., reported student housing sector fundamentals remain strong as pre-leasing for the 2022 fall semester ramps up.

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VA Increasing Appraisal Fees, Turnaround Times

Originally published on November 19, 2021, by Georgia Kromrei for HousingWire.com.

The Department of Veterans Affairs will raise appraisal fees and lengthen allowable turnaround times in select markets across the country in response to the high demand for appraisals.

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Home Prices in Opportunity Zones on Par with US Market, but Values Aren’t: ATTOM

Originally published on November 18, 2021, by Christine Stricker for ATTOM.

ATTOM, curator of the nation’s premier property database, today released its third-quarter 2021 special report analyzing qualified low-income Opportunity Zones established by Congress in the Tax Cuts and Jobs Act of 2017 (see full methodology below). In this report, ATTOM looked at 5,402 zones around the United States with sufficient sales data to analyze, meaning they had at least five home sales in the third quarter of 2021.

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CRE Lending Activity on the Upswing, Led by Alternative Lenders and Banks: CBRE

Originally published on November 17, 2021, by Michael Tucker for Mortgage Bankers Association.

CBRE, Dallas, reported commercial real estate lending activity surged in the third quarter, reflecting rebounding property acquisitions activity.

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AI Board of Directors Adopts 45-Day Notice Items During November Meeting

Originally published on November 17, 2021, by the Appraisal Institue.

The Appraisal Institute Board of Directors voted to adopt three 45-Day Notice items during its Nov. 11-12 meeting in Chicago. The 45-Day Notice items address Designated Member Status, Compensation Committee, and Standards of Valuation Practice.

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High Inflation ‘Transitory,’ Jobs Recovery Expected, MBS Purchases Slowed: Fed

Originally published on November 3, 2021, by Howard Schneider and Ann Saphir for Reuters.com.

The Federal Reserve threw its weight back behind the drive for a full U.S. jobs recovery on Wednesday, restating its belief that current high inflation is "expected to be transitory" and, despite risks to that view, arguing that price pressures will ease and pave the way for stronger employment and economic growth in the months to come.

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Broader Real Estate Sector to Recover, Hotels to Disappoint, ULI Forecast Predicts

Originally published on October 27, 2021, by the Urban Land Institute. 

The Fall 2021 ULI Real Estate Economic Forecast for 2021 to 2023 gives high-level projections of recovery to pre-pandemic levels for many U.S. real estate indicators by 2023, but with reasons to celebrate for equity REIT investors and significant disappointments for the hotel sector.

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Historic Low Cap Rates in Drug Store Sector, Data Reveals

Originally published by The Boulder Group in Q3 2021.

Cap rates in the single-tenant drug store sector decreased by 59 basis points to a new historic low rate of 5.80% in the third quarter of 2021. New historic low cap rates levels for CVS and Walgreens of 5.15% and 5.40% respectively were the primary driver of the compression. Rite Aid cap rates were compressed by 40 basis points to 7.40% but did not reach their prior historic low (2008). Investor demand for essential retailers carried over from 2020 into 2021, propelling cap rates for all three major tenants in the single-tenant drug store sector lower.

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Indoor, Outdoor Mall Visits Down in September as Retail Recovery Slows: Index

Originally published on October 6, 2021, by Ethan Chernofsky for Placer.ai BLOG.

Top tier malls across the country had been experiencing a steady recovery since the start of 2021. This recovery culminated in July when visits to indoor malls rose 1.0% above the same month in 2019, with outdoor mall visits rising 1.8%. Pent-up demand, a lack of travel, general excitement around the retail reopening and more all combined with the Back-to-School retail season to drive an impressive month.

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Housing Inventory Reaches Yearly High: Realtor.com September Housing Report

Originally published on September 30, 2021 by Nicole Murphy on Realtor.com.

New housing data shows inventory hit a 2021 high in September, giving buyers more choices than they have had all year, according to the Realtor.com® Monthly Housing Report released today. Nearly one-third of the 50 largest metros continued to see increases in newly-listed homes compared to last year and in Austin, TexasPortland, Ore.Jacksonville, Fla.; and Washington, D.C., new listings were up more than 10% year-over-year.

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Hotels in City Centers Still Struggle as Other Hospitality Properties Recover: Data

Originally published on September 22, 2021 by Shira Petrack for Placer

Our latest whitepaper analyzes the tourism and travel recovery following a year and a half of extraordinary challenges. We dove into foot traffic data for cities, states, hotels, airports, and tourist attractions across the countries to understand how the pandemic impacted – and continues to impact – these critical industries. 

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45-Day Notice on Proposed Amendments to Bylaws and Regulation No. 8, Exposure Drafts

Originally published on September 29, 2021, by the Appraisal Institute.

The Appraisal Institute Board of Directors on Sept. 27 sent to 45-Day Notice of proposed amendments to Bylaws and Regulation No. 8, Standards of Valuation Practice, and three exposure drafts.  

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Black And Latino Homeowners Are About Twice As Likely As Whites To Get Low Appraisals

Originally published on September 23, 2021, by Joe Hernandez for NPR.

Home appraisers are more likely to undervalue homes in Black and Latino areas than those in white ones, a new report by Freddie Mac has found.

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Small US Banks at Greatest Risk of Commercial Real Estate Losses: Fitch Ratings

Originally published on August 31, 2021, on MBA Newslink.

Fitch Ratings, Chicago, said the U.S. commercial real estate market will likely see deteriorating credit metrics once stimulus measures wind down and forbearance programs expire, with smaller CRE-concentrated banks more susceptible to elevated losses, which are expected to peak below levels seen in the past.

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FHFA Extends Length of Time Investors Prevented from Buying Foreclosed Homes

Originally published on September 1, 2021, by Adam Russell for FFHA. 

Washington, D.C. – Today, through the First Look Program, the Federal Housing Finance Agency (FHFA) extended from 20 to 30 days, the period during which owner-occupants, public entities, and nonprofits will have exclusive ability to buy Fannie Mae and Freddie Mac (the Enterprises) real estate owned (REO) properties before they are available for investor purchase. Launched in 2009, the First Look Program promotes owner occupancy and neighborhood stabilization. Providing individuals, families, and nonprofits with a longer amount of time to find adequate financing should help keep owner-occupants living in these homes.

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Cap Rates in Quick-service Sector at Historic Low: Report

Cap rates in the net lease quick-service sector reached a historic low of 5.26% during the second quarter, down 39 basis points from last year, according to the Q2 2021 Net Lease QSR Market Report released Sept. 1 by The Boulder Group. Cap rates for corporate-leased QSR properties dropped 20 basis points to 5%, while properties leased to franchisees dropped 43 basis points to 5.4%.

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