Recently, I and others have written about office vacancies, leading to loss of income, and thus potential credit problems. As noted, not all sectors of commercial real estate are in the same boat as office, which has many more problems than other sectors such as retail and industrial.
For residential appraisers: the GSEs continue to publish guidance for residential appraisal practice. Here are some recent excerpts.
Fannie Mae - Reconsideration of Value Guidance (Selling Guide Issuance, May 1, 2024, effective August 1, 2024).
At times it is challenging to coax an individual to consider becoming a real estate appraiser. Potential candidates without appraisal experience may be reluctant to enter a new field of study. Yet attracting new people can revitalize an appraisal firm. Appraisal offers an entry into the realm of commercial real estate opportunities.
After the Wednesday May 1
st Federal Open Market Committee (FOMC) meeting chairman Powell delivered what was characterized as a dovish announcement. Some pundits called this one the first dovish announcements by chairman Powell, for that matter, also any of the members serving on the FOMC under his leadership.
>Back in the good old days, and I do mean old, real estate planning was relatively simple: The key metric was location, location, location, later improved by timing, timing, timing. Yes, there was a nod to supply/demand analysis, and thus competition, but the data was not as available as you needed.
Ever since interest rates started their climb in 2022, appraiser volume went the other way. Residential appraisers doing mortgage work depend on two types of mortgage pipelines: purchases and refinances. For a while now, neither source has produced much flow.
Several major cities in Connecticut are exploding with new apartment development and/or proposals in recent years. The increasing demand for housing, low apartment vacancy rates, and rising apartment rents have been driving factors encouraging new development throughout Connecticut. Cities such as Hartford, New Haven, New Britain, and Stamford
Not confusing. Complicated. Not a commodity. Commercial property is converting to a higher and better use. Still an economic derivative. Following the economy! Talk it out. Walk it out. Got gas. Use it!
Newton, MA Rob Nahigian, CRE of Auburndale Realty Co., was appointed as the 2024 national vice-chair of the national activities committee for the Counselors of Real Estate (CRE).
I am definitely weary of reading, and writing, about the “housing crisis.” Through my and other’s last several articles regarding interest rates, permit delays, materials and labor costs, logistic issues, you have heard it all. As Yogi Berra would say, it is déjà vu, all over again.
.gif)
