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Story results for: Pastuszek
ShortTerm Volatility, LongTerm Questions: Appraiser’s View of Today’s CRE Risks - by Willam Pas...
April 24, 2026
Any reasonably perceptive observer of current events can reasonably conclude that we are in a time when the only certainty is uncertainty. Jamie Dimon’s recent observation that the economy faces “an increasingly complex set of risks” captures the current moment with great precision.
Change, volatility, and uncertainty - by William Pastuszek Jr.
March 27, 2026
Investors, analysts, and appraisers are constantly dealing with uncertainty and volatility. Appraisers learn in Appraisal 101 about the principle of change: markets are dynamic, behaviors change in light of recent events. (The
Things that may matter in appraisal in 2026 - by Bill Pastuszek
March 13, 2026
As we move through the first quarter of 2026, New England appraisers face a real estate landscape is defined by paradox: a return to market “normalcy” that feels anything but normal. For appraisers and the
This year should be where market behaviors provide more clarity in the direction of CRE - by William...
January 30, 2026
The best that can be said about 2025 is that it was a year of adjusting to the realities of the marketplace. One source called it a year of “recalibration” after a “downshift” in the prior year.
The certainty of uncertainty - A real estate appraisal perspective - by Bill Pastuszek
October 31, 2025
In all things today, uncertainty is not an anomaly – it’s the norm. In today’s real estate landscape, appraisers, tasked with interpreting market signals and arriving at defensible value opinion, must navigate a terrain shaped by shifting and
Residential appraising in 2025 - by Bill Pastuszek
September 5, 2025
Residential appraisers are working through some challenging times. High interest rates, lack of transactional activity, upcoming changes in report, and continued assaults on the integrity of the profession have taken a toll. Many appraisers have changed careers or opted for retirement. Others have expanded the scope of their services and have
Living uncertain - “riding the waves of the never normal.” - by William Pastuszek
July 25, 2025
Uncertainty is an everyday fact of life, business, nearly everything. How can we label today’s environment that we are struggling to make sense for our one decision making? There’s no good answer. It seems like the new normal is that there isn’t any normal! We can address that a bit last.
The resilience of markets - by William Pastuszek Jr.
May 23, 2025
In an era of uncertainty – uncertainty and unpredictability taken to new heights – real estate markets find ways to seek rational paths towards solutions under conditions of uncertainty. It’s a truism in investment behavior that markets can adapt to
Adjusting to market condition adjustments - by Bill Pastuszek
April 25, 2025
Appraisal deals with the dynamism of markets. The principle of change is a fundamental appraisal concept. Appraisers operate in markets that are constantly shifting, often in very nuanced ways. Appraisers are careful, in general, to not adopt sledgehammer approaches to their work but, in doing so, often don’t take advantage of many resources and techniques that are more
A quick look at the current state of the residential appraisal profession - by William Pastuszek Jr....
March 28, 2025
Appraisers and the appraisal profession have typically operated in crisis or near-crisis conditions. The profession emerged from the Great Depression (that’s the one in the 1930s) and has survived numerous other “bad times,” such as the Savings and Loan Meltdown and subsequent commercial
The faces of uncertainty - by Bill Pastuszek
March 7, 2025
Appraisers, and pretty much everyone else on the planet, face conditions of unparalleled uncertainty heading into the second half of the second decade of a relatively young century. Uncertainty, as we know, is anathema to investors. Investment decisions are predicated on the reasonable probability that an
Investors hate uncertainty: let’s hope for change that is positive and beneficial to markets - by ...
January 31, 2025
COVID and The Continuance of Real Estate Angst. The 2020 shutdown took place nearly 5 years ago. While still fresh for many, dwelling on the impact of the pandemic obsessively doesn’t do much for the effects that are still with us, impacts driven by low interest rates and
2024 Year in Review: Bill Pastuszek,
Shepherd Associates
January 3, 2025
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024?I helped several review clients create more robust appraisal quality control programs, allowing them to improve appraiser selection and appraisal administration policies
Data, judgment and analysis - by William Pastuszek
November 8, 2024
The following falls into the category of Broadly Generalizing, but the issues need to be discussed. This isn’t the first time the subject has been discussed in this column and it’s probably far to say that the writer believe that it can’t be discussed enough.
Is it getting better? Commercial real estate tends to move slowly - by Bill Pastuszek
October 25, 2024
In reviewing the year so far, what are some of the factors that are influencing markets? For commercial real estate (CRE), what are some signposts that may help to understand what is in the offing? How is New England doing compared to
Interest rates - Not so fast! - by William Pastuszek
October 11, 2024
Long awaited, the Federal Reserve dropped the “benchmark” federal funds rate to the 4.75 to 5% range, a 50 basis point drop. The statement from the Fed’s rate-setting committee noted the decrease was made “in light of the progress on inflation and the balance of risks.
AI, appraisals and appraisers - by William Pastuszek
September 13, 2024
It’s not a generalization to say that appraisers and the appraisal profession are deliberative, and can be hesitant to change without proven reasons to do so. But change is here. Appraisers are now faced with evaluating AI technology and how the technology can-and-will-impact appraisal theory and practice. This technology has evolved in the past couple of years to have capabilities that appraisers can use to their advantage.
Commercial markets observations: Making sense of the various sectors is a challenge - by Bill Pastu...
September 6, 2024
Let’s take the Red Sox. Last year, they were last in the division with 78 wins and a .481 percentage. This year, to date, they are third in the AL East with 66 wins and a .528 percentage with a chance for a wild card. That’s progress - if they keep it up.
2024 mid-year residential musings - by William Pastuszek
August 9, 2024
Halfway through the year, dealing with high mortgage rates, thin inventories, and unsatisfying amount of sales data, make understanding residential markets as challenging as ever. Let’s take a mid-summer step back and take a look at the state of markets. Following is a discussion of residential market issues.
Summertime...the living is easy? - by Bill Pastuszek
July 26, 2024
Here it is, more than halfway through July. Commercial real estate (CRE) markets are scraping by, volumes are down, rates are still up, and there are few transactions. There is no clear trend from quarter to quarter. The most noteworthy part of the summer so far has been a long – but