Appraisers are like old football players; they are running hard to keep up with ever-faster players. With the arrival of truly BIG DATA, and the seeming movement towards alternative valuations, it seems like the appraisal industry is in a bit of a free fall.
This year continues to be strong for housing and CRE markets. Buyers are still willing to pay going rates for real estate of all kinds. The seller’s market continues.
Comparing commercial real estate (CRE) markets to a huge cruise liner is a reasonable big picture metaphor. If you are in commercial real estate, think of it (right now) as a mostly smooth trip on a really big ship.
It is said of some athletes that they make the difficult look easy and make the routine look difficult. I’ve heard this said of goalies and shortstops at the very least.
Coming out of a nicely timed July 4th holiday, and one that was much needed according to my informal survey, we move right into the heat of the summer. A few seasonal observations and questions.