News By Edition

Valuation Review continues its traditional on-site interviews with the president of the Appraisal Institute during the organization’s annual conference.

We sat down with Jody Bishop during this year’s event earlier this month in Las Vegas to discuss all topics pertinent to appraisers, as well as what Bishop sees for the industry in the days moving forward.

Read on for more of our conversation with Bishop.

Valuation Review caught up with Commonwealth Commercial Appraisal Group President Michael Rohm, who shared his expertise on matters pertaining to the market and what appraisers should know.

He also discussed a few points from his article “Market Correction or Seller Panic?”

Read on for more of Rohm's observations.

Class Valuation recently acquired Appraisal Tek (ATek), a nationwide AMC with a large footprint in the western region of the United States.

This is Class Valuation’s fifth acquisition within the last few years.

Read on for more about this acquisition.

BBG recently appointed R. J. DeBee III and Matthew Bulecza as managing directors of the firm’s newly launched Alternative Practice Groups.

A BBG executive said both DeBee and Bulecza’s extensive expertise and proven leadership abilities in the valuation of specialty commercial properties “will play an integral role in our meeting our clients’ pressing needs and achieving strategic growth in these areas.”

Read on to learn more about these two company appointments.

Veros Software, the parent company of Veros Real Estate Solutions, recently acquired Valligent, a market-leading appraisal management company.

Veros said the acquisition will revolutionize and drive the property valuation industry beyond where it is today.

Read on for more information about this key industry acquisition.

JLL’s Valuation Advisory group has expanded its offerings within Valorem, its proprietary property intelligence and technology tool. This expansion provides a higher level of risk analysis and opportunity for residential and multi-housing clients.

The Appraisal Institute (AI) Board of Directors elected Paula Konikoff vice president at its annual conference in Las Vegas. Her one-year term as vice president will begin Jan. 1.  and she’ll also serve for one year as chair of the Finance Committee.

SettlementOne Valuation recently hired Michelle Mencarini as vice president of national sales. Mencarini brings nearly 15 years of sales, relationship building and product knowledge to the position.

CoreLogic recently released its Home Price Index (HPI) and HPI Forecast for June 2022.

Nationwide, home prices grew by 18.3 percent from June 2021, marking the 125th consecutive month of year-over-year increases.

Read on for more numbers from this report.

The Federal Trade Commission has announced a proposed order that would require Tempe, Ariz.-based Opendoor Labs to pay $62 million following an investigation that found the company deceived potential homesellers into believing its homebuying service was cheaper than selling the traditional way.

In October Research’s latest economic forecast series webinar, Zonda’s Housing Economics Manager Nikolas Scoolis shared his insight into the latest market trends and what they mean for the housing market.

SingleSource Property Solutions, a provider of residential services supporting the U.S. housing industry, is celebrating the 20-year anniversary of the launch of its home equity service offerings. The company’s second mortgage services, which are available in bundles and include valuations, title products and online closings, are currently helping lenders meet growing demand for home equity loans and home equity lines of credit.

Total commercial and multi-family mortgage borrowing, and lending could fall to $733 billion this year, down 18 percent from 2021 totals. This is according to an updated baseline forecast from the Mortgage Bankers Association.

ATTOM sold its RealtyTrac and Homefacts websites to Nations Info. As part of the transaction, Nation Info signed a multi-year agreement to become an ATTOM data-licensing customer. Financial terms were not disclosed.

The Federal Housing Finance Agency (FHFA) recently announced the release of Fannie Mae's and Freddie Mac’s (the Enterprises) Equitable Housing Finance Plans for 2022-2024. These plans are designed to complement the initiatives outlined in FHFA’s Strategic Plan: Fiscal Years 2022–2026 that promote the Enterprises’ safety and soundness and foster housing finance markets that provide equitable access to affordable and sustainable housing.

Data will, unquestionably, influence decisions moving forward inside the valuation arena.

Regardless, according to Clear Capital’s Real Estate Analytics Product Director James Marshall, if a valuation is human or computer driven, more data about the property will result in a more complete picture of its value drivers, and therefore, its value.

Read on to learn more.

Accurate Group, a provider of technology-driven real estate appraisal, title data, analytics and eClosing solutions, recently received verification from Freddie Mac for their ACE+ PDR (automated collateral evaluation plus property data report) offering. Accurate Group said it will deliver data collection for ACE+ PDR orders through its property inspection division, GroundWorks.

Valuation Review concludes its conversation with Julie Friess, chief appraiser of Sedona Appraisal Research Associates, for more insight on the definitions of long-term rentals.

Friess also discussed specifics about real estate and real property.

Read on for the rest of the story.

The Appraisal Foundation’s Appraisal Standards Board recently announced that the current edition of the Uniform Standards of Professional Appraisal Practice (USPAP) would be extended by one additional year. The 2020-2021 USPAP will now be effective until Dec. 31, 2023.

A greater number of markets experienced double-digit annual price gains compared to the prior quarter, according to the National Association of Realtors^’ (NAR) latest quarterly report. According to NAR, 80 percent of the 185 tracked metro areas posted double-digit price gains, up from 70 percent in the first quarter of this year.

Valuation Review concludes its interview with Appraisal Institute (AI) President Jody Bishop from the AI conference recently held in Las Vegas.

Bishop pointed out more areas where appraising can flourish in 2022, including what PAREA can bring.

Read on for the conclusion of this feature story.

Zillow recently started its nationwide surfing 2.0 to provide home shoppers across the U.S. with a deeper sense of a home without stepping foot inside.

This can be accomplished by using Zillow’s free, AI (artificial intelligence)-generated floorplan tool, saving valuable time and headaches during the search for homes.

Read on to learn more.

JLL’s Valuation Advisory group recently hired Adam Dembowitz as a managing director in its Denver office. Dembowitz will focus on driving growth and expanding the group’s west coast platform in Colorado and California.

Institutional investment in single-family rental homes is on the rise and expected to grow dramatically over the next eight years, according to a new bulletin on the sector released by Yardi Matrix. However, rising interest rates are forcing investors to reassess the most effective strategies for growing portfolios and may contribute to lower near-term returns.

FoxyAI, a B2B PropTech company providing real estate visualization and property intelligence, recently launched its specialized property intelligence tools for municipal tax appraisers. FoxyAI said its tools help municipalities and tax assessing entities automate property quality classifications, generate efficiencies, reduce cost and improve quality assurance.

CoreLogic recently released its monthly Loan Performance Insights (LPI) Report for May.

The figures showed another month (15^th consecutive) where delinquency rates decreased. In May, 2.7 percent of mortgages were delinquent by at least 30 days or more including those in foreclosure.

Read on for more numbers.

JLL’s Valuation Advisory group recently hired Nik Bex as executive vice president in its Chicago office. Bex will focus on driving growth and building the multi-housing platform in Chicago and the greater Midwest region.

Bex also will lead and build the group’s multi-housing presence in Chicago and the greater Midwest.

Read on to learn more.