There are definitely shifts afoot in housing demand because of the coronavirus pandemic. The problem is, no one really knows how dramatically, or even in what direction, the shift will take us. Just like the economy, it all depends on how long pandemic lasts, and whether there is a vaccine in sight.
In this jumbled, unreal, and hard time world, after a long, uncomfortable lock-down, we yearn for some semblance of normalcy. As we start to come out of the lock-down, we think about doing things that we haven’t done or haven’t been allowed to do.
If there is one constant in the real estate industry it is change. Occupancy levels go up or come down, expenses increase or decrease as do rents. Ultimately values move in reactions to the changes.
One day a local contractor walked into the Taunton, Mass. assessor’s office, pointed his finger at me and said, “You are trying to put me out of business!” He had just received a July 1st real estate tax bill for a new single family home
Escape from New York. I’m referring to the effect of the coronavirus pandemic on the New York and Connecticut housing markets, lest you think I’m speaking of John Carpenter’s 1981 classic sci-fi action movie, “Escape from New York,” starring Kurt Russell
The Massachusetts and Rhode Island Chapter of the Appraisal Institute is hoping all of our friends and customers are continuing to stay safe during the COVID-19 pandemic. Appraisers, just like all of our customers, clients and friends in the real estate
The residential real estate market in the greater Manchester and surrounding area markets has been strong for the past 18 – 24 months. The first quarter of 2020 showed continued appreciation in values with rates of increase in the range of 4% to 6% annually in the residential
We’re nearly halfway through 2020 and it is already promising to be a year for the history books. The country, the region, and the city of Boston have experienced unprecedented conditions imposed by the COVID-19 response and necessary safety measures.
Back in late March, the Federal Reserve Board cut their lending rate (Fed Funds Rate) by two points, basically to zero. It was an unprecedented move, caused primarily by the economic crisis, resulting from COVID.
When I think of those on the front lines taking care of COVID patients and risking their lives every day, it makes the problems we face as appraisers almost inconsequential. Nevertheless, we are facing real issues attempting to do our jobs and keeping ourselves and others safe.