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Happy anniversary – A look back from Bill Pastuszek
June 30, 2023
I was just reading the remarks that Rolly Hopkins, the founder of the New England Real Estate Journal (NEREJ), wrote on the 50th anniversary of the paper. He said: In terms of “publishing newspapers, I discovered that timing and luck are most important in any endeavors one undertakes.” I have found that to be true in other areas as well. Being there helps and being there at the right time helps even more.
Residential appraisers at a crossroads - William Pastuszek
June 9, 2023
The Warren Group tells us that in Massachusetts, “the median sale price for both single-family homes and condominiums declined in April as the lack of inventory and elevated interest rates continued to weigh on market activity.” Single family sales declined 25% compared to 23 months ago. “Meanwhile, the median single-family sale price declined on a year-over-year basis for the first time since 2018
Industrial markets – What are they telling us? by William Pastuszek
May 26, 2023
The era of free money being over, and with post-COVID inflation eroding purchasing power and making everything more expensive, markets are adjusting to the higher cost of acquiring and holding real estate. Plus, everyone is kept on edge by what is going on inside and outside the borders of the nation. And in New England, we are eyeing what is going on in the rest of the country.
Cap rate trends - by William Pastuszek
May 12, 2023
Commercial markets are reacting to a higher interest rate environment and much more uncertainty than existed this time last year. Where residential properties are using comparable sales, income producing properties are best measured by their income characteristics. This is done by developing capitalization rates as the basis for comparison. “Cap” rates are most typically derived from competitive market transactions.
Spring brings big change - by Bill Pastuszek
April 14, 2023
The appraisal profession – in particular, residential mortgage appraisal – is undergoing a significant period of change and upheaval. Much of this change is being imposed upon the profession from without. Some wonder if the profession, through its glacial pace of evolvement
Cracks in the wall - by Bill Pastuszek
March 31, 2023
I usually write a market update this time of year and have a look at industrial and office markets. Conventional wisdom rated 2022 as a transitional year with “blue skies forever” optimism largely gone. After the shock of the COVID shutdown and the dramatic rebound, new realities have set in.
Housing markets: A year later - by Bill Pastuszek
March 10, 2023
Housing robustness was the theme of 1-4 family housing a year ago. Looking back, the differences between then and now are dramatic. Higher rates, inflationary pressures, and the Russian invasion of Ukraine are factors that have changed the face of housing.
Adapting to change - by Bill Pastuszek
March 3, 2023
As the warmth and hopeful prospects of the holidays and the New Year are in the rear view mirrors, the hard work starts in trying to understand what the year portends. Now two months into 2023, there are high points and there are pain points to be discussed.
Appraisal modernization and appraisal trends - by William Pastuszek
February 10, 2023
Appraisals, appraisers, and the appraisal process have received much scrutiny over the past couple of years. This is particularly so in the residential sector, where the appraisal community has entertained much attention from housing and anti-discrimination advocates. This movement includes questions and concerns about the structure and regulation of the appraisal industry.
The year ahead: What’s 2023 going to look like? - by William Pastuszek
January 13, 2023
For most real estate professionals, including lenders and appraisers, 2022 was a transitional year. For the most part, gone is the “blue skies forever” thought processes. Instead, endless optimism is being replaced with a good deal more balance and perspective.
2022 Year in Review: Bill Pastuszek, Shepherd Associates, LLC
December 30, 2022
How has your career path changed in 2022?
My career path leads me toward quality over quantity in terms of assignments. Taking on challenging appraisal and review engagements that are interesting professionally and personally are preferred.
A year in housing to remember, reviewed - by William Pastuszek
December 16, 2022
The year past in housing has been tumultuous and thought-provoking. In fact, the last few have not exactly been steady as it goes. And contrasting now with last December is attention-getting, showing some interesting and fundamental changes. 2021 seems a long time ago now, doesn’t it, a different time?
Boston’s industrial market 3Q 2022 - by Bill Pastuszek
November 25, 2022
The economic landscape has dramatically changed. It seems nothing has changed much since late 2019 but the shifts experienced are big, dramatic, and unsettling. But it all fits a guiding principle: We are certain that change will occur.
Boston’s industrial market 3Q 2022 - by Bill Pastuszek
November 11, 2022
The economic landscape has dramatically changed. It seems nothing has changed much since late 2019 but the shifts experienced are big, dramatic, and unsettling. But it all fits a guiding principle: We are certain that change will occur.
Reading the tea leaves - by William Pastuszek
October 28, 2022
Looking at the real estate data and the economic data, there are some issues that need to be examined. It may be time to take a look at where markets are heading. The froth of the post-pandemic days seem to be moving behind us, replaced with a less heady, and more sober reality going forward.
The annual fall checkup - by Bill Pastuszek
October 14, 2022
Some items worth thinking about. There are a lot of questions asked here. Many of the answers may not be yes or no response but may have a lot of “it depends….” Housing. The housing markets seem to be in some disarray. It’s a bit amazing to see how the price of debt drives
Things that appraisers do right - by Bill Pastuszek
September 30, 2022
Appraisers have been under some heat in the recent past. And, the heat, if this summer is any predictor, is not likely over. But today we’re going to focus on something more useful – things that appraisers do well 1. Transparency – From Beginning to End. Having a scope of work explanation gives the
Things that appraisers do right - by Bill Pastuszek
September 16, 2022
Appraisers have been under some heat in the recent past. And, the heat, if this summer is any predictor, is not likely over. But today we’re going to focus on something more useful – things that appraisers do well.
Industrial market for Northern New England - by Bill Pastuszek
September 2, 2022
Industrial markets – which include warehousing, manufacturing logistics, etc. – continue to hold a dear place in the hearts and minds of investors. COVID sparked a boom in industrial real estate across the country and released an incredible amount of pent-up demand in New England.
Summertime: Is the living easy? - by Bill Pastuszek
August 12, 2022
It’s the middle of the summer. A bit of a drought here in Mass. Some heat in the last couple of weeks but considering that one could have been in Paris in July or Phoenix almost any time, it hasn’t been too bad.