News By Edition

Earlier, Valuation Review reported about the partnership formed between Valcre, the software solution for commercial real estate appraisals, and Kidder Mathews, an independent commercial real estate firm with valuation and advisory services.

We sat down with Valcre co-founder and CEO Lucas Rotter, as well as Kidder Mathews Managing Director Jeffrey Enright, who shared more insight on how the alignment of their respective companies further meets the needs of the commercial appraisal community.

Read on to find out what the company executives told us.

In January, BBG launched a new training program called BBG University that gives hundreds of young professionals an opportunity to receive the in-depth training needed to become successful commercial real estate appraisers.

Valuation Review spoke with BBG CEO Chris Roach, who shared many details about “BBG-U.”

Read on for more about this new opportunity for commercial appraisers.

Valuation Review reached out to Owners’ Counsel of America’s Executive Director Leslie Fields to share her thoughts from her article “What It Takes to Be An Expert Appraisal Witness in An Eminent Domain Case.”

Fields suggests appraising eminent domain property requires certain skills.

Read on to learn more from this legal expert.

BBG recently appointed James Graber as an executive manager director.

Graber will lead BBG’s Alternative Practice Groups consisting of seniors housing, healthcare, hospitality, self-storage markets and manufactured housing communities.

Read on for more information.

This month, Valuation Review shares more thoughts from Dustin Harris, “The Appraiser Coach,” from two of his blogs titled “The Path to Credibility” and “Where is Your Focus?”

Harris reminds valuers to keep their eyes on the prize.

Read on to learn more.

The Appraisal Institute of Canada’s (AIC) Board of Directors recently appointed Tami Hynes as its new chief executive officer. Hynes brings a wealth of experience to AIC in strategic planning, organizational change and effectiveness, certification and governance.

Clearbox, LLC, a comprehensive credentials database of appraisers, trainees, real estate agents, and property data collectors, recently announced a new integration. Clearbox integrated its vendor panel management solution suite with the Voxtur Analytics Corp. valuation technology, Anow.

Arbitration is increasingly seen as an efficient and cost-effective alternative to litigation. Valuation professionals are often called on to serve as arbitrators, expert witnesses and consultants in arbitration matters.

Cap rates in the single tenant net lease sector increased slightly or were unchanged in the second quarter of 2022.

Following record low cap rate levels for all three asset classes in the first quarter of 2022, the increase in borrowing costs and the current inflationary environment were the main determining factors for the change in cap rates.

Read on to learn more.

JLL recently acquired Metropolitan Valuation Services (MVS).

MVS is one of the largest independent commercial property appraisal and real estate consulting firms in the New York City area.

Read on to find out more about this acquisition.

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

The LPI, in addition to showing delinquency rates dropping in April, also revealed that foreclosures held steady from March, remaining near historic lows.

Read on to learn more from the LPI Report.

With last year’s rental prices having grown at nearly double the rate of any previous year, the personal-finance website WalletHub recently released its report on “2022’s Best & Worst Places to Rent in America.” WalletHub compared more than 180 U.S. cities based on 22 key indicators of rental attractiveness and quality of life.

The Fannie Mae Home Purchase Sentiment Index decreased 3.4 points in June to 64.8, its second-lowest reading in a decade. Surveyed consumers continue to express pessimism about homebuying conditions, with only 20 percent of respondents reporting it’s a good time to buy a home, while the percentage of consumers who believe it’s good to sell now fell from 76 percent to 68 percent in July.

According to data from Redfin, rising and shifting mortgage rates are forcing buyers to cancel home purchases at the highest rate since 2020. The slowdown in the housing market is allowing more time for buyers to bargain hunt for better rates and prices.

GPARENCY, a commercial mortgage brokerage, recently announced that Michael Stellrecht has joined the company as a senior analyst. Stellrecht will review and underwrite commercial mortgages for all property types and ensure a smooth, optimal back-office experience for GPARENCY’s growing client base of general partners and investors, the company said.

Valuation Review spoke with Clear Capital Real Estate Analytics Product Director James Marshall about automated valuation models.

In his blog “AVMs will see compliance, regulation updates,” Marshall outlined what appraisers or lenders will need to understand and deal with on the road toward AVM compliance.

Read on for more of what Marshall had to say.

Valuation Review recently sat down with the new ASA International President Richard Berkemeier.

Earlier, we brought readers’ attention the initial announcement by ASA regarding this appointment, and now share more of what Berkemeier hopes to accomplish during his tenure.

Read on for more insight from our conversation.

Desktop appraisal technology promises to enhance the appraisal profession by assisting both lenders and appraisers.

Confidence regarding this technology, both from appraisers and homeowners, however, remains a concern.

Read on for more information and learn how you can download this special report.

Home shoppers are finding more options to choose from, more time to make decisions and even price cuts in some areas, according to Zillow's latest market report.

That's largely because intensifying affordability challenges are thinning competition and giving newfound leverage to those who remain. 

Read on to learn more.

The Appraisal Institute (AI) presented its annual national awards at its 2022 conference in Las Vegas.

Honors went to 15 people who were officially recognized during the annual AI Awards Luncheon, sponsored by the AI Education and Relief Foundation.

Read on to find out who this year's winners were.

Class Valuation, an AMC focused on appraisal technology and innovation, was named a top spotlight innovator by Brookings Institute and ASHOKA in the Changemakers Challenge: Valuing Homes in Black Communities. Valuing Homes in Black-Majority Neighborhoods is a far-reaching effort of the Brookings Metropolitan Policy Program and Ashoka’s Economic Architecture Project to find solutions for housing devaluation.

AppraisalWorks, a provider of real estate appraisal technology, recently announced its AppraisalWorks appraisal management platform was verified by Freddie Mac. The platform was added to the company’s list of software partners.

The Department of Housing and Urban Development (HUD) published its proposals for updating the Manufactured Home Construction and Safety Standards, commonly referred to as the HUD Code. The proposed updates were published in the Federal Register and are the largest set of changes to the HUD Code in over two decades.

Candescent Capital Ventures, LLC recently acquired Chrysalis Valuation Consultants, an appraisal firm headquartered in Denver that specializes in complex residential assignments.

It also offers expert testimony in complex residential and commercial litigation and has comprehensive expertise in both commercial and agricultural properties.

Read on to learn more about this industry acquisition.

Appraisers are now required to use the Square Footage-Method for Calculating: ANSI Z765-2021 (American National Standards Institute) measuring standard for measuring, calculating and reporting above and below grade square footage(s) to determine gross living area (GLA) and non-GLA areas of subject properties. Recently, Fannie Mae, through its Standardized Property Measuring Guidelines, released some frequently asked questions regarding ANSI.

The House of Representatives on July 14 passed the National Defense Authorization Act, which approved $840 billion in defense spending for 2023. The 329-101 vote came after hundreds of amendments were considered, including a couple that focused on valuation issues. 

Credit unions are integral to achieving the Federal Housing Finance Agency’s (FHFA) mission and goals, according to a recent letter written by the Credit Union National Association to House Financial Services leadership.  

Asteroom Inc. recently announced it will launch a nationwide service to capture property dimension and condition reports for Freddie Mac’s ACE+PDR offering which started July 17^th. Asteroom’s solution expands upon its existing desktop appraisal service for AMCs and lenders.

The 2022 Appraisal Institute (AI) Annual Conference is underway, and Valuation Review is live in Las Vegas to cover the event.

A wide variety of appraisal topics will be discussed during the next two days at the Bellagio Hotel & Resort.

Read  on for a brief summary of what conference attendees can expect to see.