The phrase “supply chain” is not called “chain” for nothing. With regard to real estate development, everything is chained together. Raw materials, labor, energy, manufacturing, transportation and storage, even global politics are all linked.
As faith communities design and build religious facilities, the planning horizon may be measured in terms of decades or centuries. Churches, mosques, synagogues, and temples may offer the promise of permanence.
Is the residential home price surge slowing? It looks like it. While an appraiser is not required to predict the future, none of us want to get caught overvaluing a property. So it might be wise to look at some of the indicators that precede price declines.
The next Appraiser Expo should include a round table discussion with a group of multi-discipline appraisers, real property, machinery, personal property, assessment, business valuation especially in issues involving litigation, divorce, partner disputes, bankruptcy, IRS decedent estates, gift tax, non-cash charitable donation, environmental stigma, etc.
Appraisers and real estate appraisers are a popular topic in Congress. I heard this and wondered why. It turns out that our work has deeper layers of oversight that are raising questions. United States House Committee on Financial Services, also referred to as the House Banking Committee, is watching appraisers and reading appraisal reports.
Many real estate markets are starting to see prices increasing but at a slower pace and some price ranges are starting to see price drops. When a market is rapidly changing and sales and prices are in flux it can be challenging for appraisers who rely on historic data to support their conclusions.
It’s no secret that the demand for single-family homes in the United States is greater than the supply. Not only are fewer people selling their homes, but fewer homes are also being built. The building rate of the previous decade struggled
Fall is historically one of the busiest times of the year for the Appraisal Institute, and our programming calendar is in full swing. In fact, we just held two “firsts” for our newly merged Massachusetts-Rhode Island- Maine Chapter, including a virtual Appraisers Services Showcase
As I head into my 37
th year as a Real Estate Appraiser, it is evident to me that this real estate market continues to be the hottest I’ve ever experienced. I continue to encourage my colleagues to keep up with the market.
Together with highest and best use, market analysis is a critical part of the appraisal development process. The Dictionary of Real Estate Appraisal defines market analysis as: “The study of the supply and demand in a specific area for a specific type of property.”
