On Tuesday, January 29th at the Federal Reserve Boston, the Massachusetts and Rhode Island Chapter of the Appraisal Institute held the annual Economic Outlook and Real Estate Trends 2019 program.
Early recaps, wrap-ups and forecasts for commercial real estate are strong and measured. Fundamentals were stable to strong in 2018 and so were the first three quarters of 2018 for commercial real estate. The Fed has finally paused on rates and focused with transparency on its oversized balance sheet.
It’s still Boston. What a great place! What an economy. If you can afford it, booming Boston is a great place in which to live and work. For most. Demand for skilled workers and affordable housing is unabated, the metro’s population increases, and the quality of life is enviable, if unaffordable to some.
The former New Hampshire and Vermont Chapters of the Appraisal Institute merged into a single chapter one year ago. The combined chapter is now known as the New Hampshire/Vermont Chapter. David Cornell, MAI and 2018 president of the chapter oversaw the merger and the first year operating
I started 2018 as the recently installed president of the Maine Chapter of the Appraisal Institute. Throughout this past year, I significantly benefited from the efforts, insight and experiences of the chapter officers and directors. Please allow me this opportunity to thank them for their efforts
As 2018 comes to a close I’m gearing up to serve as the president of the Massachusetts and Rhode Island Chapter of the Appraisal Institute. On December 4 at the top floor restaurant of Boston’s Federal Reserve office tower, I was sworn in as chapter president along with the three other officers and eight members of the board of directors.
The appraisal landscape is rapidly changing. There are a number of newer types of appraisal products and appraisal requirements are changing. Change is never easy and appraisers are challenged to keep abreast of what is proposed and what is in effect.
As we enter the new year filled with new (or some of the same old) resolutions, it is important that these resolutions do not go unfilled. Looking back as the outgoing 2018 president of the Connecticut Chapter of the Appraisal Institute, 2018 was filled with many successes and challenges.
Capital sources for commercial real estate are generally flush if cautiously prepared to invest during 2019. How flush will be apparent in the forthcoming weeks as term sheets are exchanged on debt and equity commitments, and offers on properties and portfolios.
Between the time I started and finished this article, I changed my mind twice. Why? Because it’s about interest rates. You know what I mean…total uncertainty. Six months ago, I wrote about increases in interest rates, but noted that there were no onerous real estate impacts to that date.
