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Michael Herzenberg of NY1 did a great story on the exodus from Stuy Town after the landlord provided terms for people to break their leases. The story was inspired by a press release from CHIP (I haven't seen) which talked about the pandemic exodus as the reason for the rising vacancies. I thought that was a bit of hyperbole since the other key factor has been the inability of the real estate brokerage industry to do in-house showings by state mandate until June 22nd.
COVID-19 Halts the Vancouver Island Real Estate Marketplace. At the start of the COVID-19 pandemic, no aspect of the Canadian economy was left untouched and the real estate market felt this acutely with a major slump during March and April. During this period, many British Columbians experienced layoffs, placed themselves in social isolation and were hesitant to open their homes to strangers.
While commercial appraisals are a central part of evaluating real estate, the appraisal process itself can be frustrating and confusing – primarily since each assessment depends on the scope and nature of the specific property. My goal here is to help lenders, bank reviewers and appraisers better understand the commercial appraisal process to ensure projects are completed in a timely and efficient manner.
A little over two years ago, our hometown paper, The Columbus Dispatch, published an article about an emerging trend: the rapid growth in demand for industrial real estate in Central Ohio. At the time, the article focused on the “Amazon effect” – the local warehousing of an enormous stockpile of products for regional distribution. With about 2 million square feet of industrial real estate in just two facilities, Amazon was king.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
So many of us are looking for that extra living space in our homes. Many people are converting their garage into an office, gym, studio, game room, she shed, or man cave. Garage conversion can be a great way to create an additional living area to your house. Typically, when we’ve seen this conversion it’s with a detached garage and their driveway is long.
This post is an excerpt from my July 3, 2020 Housing Note newsletter. You can signup for these weekly emails here. July 4th UPDATE. When the Board of Directors convenes in August they need to: - Discuss the current sham petition process and should either remove it from the bylaws altogether or modify it by raising the petition process requirement from 6 votes to a supermajority (2/3) of the Board of Directors.
Recently, Desktop and Drive-by appraisals (no interior inspection by the appraiser) temporarily replaced some interior inspection appraisals as a necessary response to health risks and quarantine orders related to the COVID-19 pandemic. This adaptation was appropriate and necessary to protect the health and well-being of homeowners and appraisers, while keeping the mortgage process moving.
Are you interested in getting appraisal services for your property in Toronto? It’s important to make sure that its value is being determined by the most qualified appraiser. Here are some questions to ask prospective appraisal firms before you hire one: Has your company appraised many properties in my area? This is an absolutely crucial question to ask when selecting an appraiser.
Welcome to 2020 with COVID-19, social distancing, self-imposed lockdown, and Zoom meetings. Rioting and protesting aside, I have to say that America has dealt with the lifestyle and work environment change quite well. But as life starts a trek back to a new state of normality, it will do us good to take a look at the real estate market and measure the impact of the Corona virus and how it will affect the market in the future.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
As part of their appraisal modernization efforts, Fannie Mae and Freddie Mac (the GSEs) have issued test forms for Hybrid and Desktop appraisal assignments. The forms will be made available to the major appraisal report software providers. The GSEs have also aligned on guidance regarding the use of these test forms, including formal definitions for “Hybrid” and “Desktop” assignments.
It’s no secret that COVID-19 has impacted virtually every industry across the globe. Over the next few months, we will take a closer look at specific property types and discuss how they’ve been affected since the start of the global pandemic. Our first installment of this series will focus on the uncertainty surrounding hotels. Hotels […]. The post Assessing the Impact of COVID-19 on: Hotels appeared first on Willowbrook Valuation & Advisory Services.
This post previously appeared in the July 24, 2020 edition of Housing Notes. I've been writing these weekly summaries on housing topics for more than five years. To subscribe for free, you can sign up here. Then you can look forward to each issue every Friday at 2pm New York Time. Here's a shoutout to Jim Amorin and Leslie Sellers as you are reading this right now - - here's a refresher on Appraisal Institute history.
Recently, Desktop and Drive-by appraisals (no interior inspection by the appraiser) temporarily replaced some interior inspection appraisals as a necessary response to health risks and quarantine orders related to the COVID-19 pandemic. This adaptation was appropriate and necessary to protect the health and well-being of homeowners and appraisers, while keeping the mortgage process moving.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
Welcome to 2020 with COVID-19, social distancing, self-imposed lockdown, and Zoom meetings. Rioting and protesting aside, I have to say that America has dealt with the lifestyle and work environment change quite well. But as life starts a trek back to a new state of normality, it will do us good to take a look at the real estate market and measure the impact of the Corona virus and how it will affect the market in the future.
Even if the bulk of your appraisals are fairly cut and dried, and require minimal interaction with a human client, any appraiser will occasionally have to work with a difficult client. The assignment might require you to work with a specialty property that is hard to appraise, or with a client who is personally disagreeable, or exceptionally exacting, or who has an agenda that you don’t understand or can’t go along with.
This post previously appeared in the July 10, 2020 edition of Housing Notes. I've been writing these weekly summaries on housing topics for more than five years. To subscribe for free, you can sign up here. Then you can look forward to each issue every Friday at 2pm New York Time. __. UPDATE JULY 13, 2020. The Appraisal Institute felt it was necessary to write a letter to respond to my original July 3rd post: The Appraisal Institute Ignores Its Membership For Third Time In Sham Election Maneuver
Had a wonderful, nearly 7.5-minute conversation with Vonnie Quinn on Bloomberg Television's Markets today discussing how the housing market will likely look over the summer. The interview touched on the analysis in the Douglas Elliman Report series I author. Some 'inside baseball' fun. I was connected to Bloomberg via Zoom from my home for this. If you look closely at the 5:15 mark, you can see my garage door open as my wife drives in.
I’ve been teaching and writing courses for McKissock for 20 years. During that time, we’ve offered several courses on appraising “oddball” or “complex” properties. If you’ve never taken one of these courses, I strongly recommend that you do. Despite the rise of AVMs in recent years, these types of assignments continue to require competent, boots-on-the-ground residential appraisers.
The relationship between a builder and a real estate agent can be a complicated one. This relationship is often portrayed as antagonistic. The two are usually pitted against each other in competing for homebuyers and sales. In fact, there are several myths and misconceptions that builders, real estate agents, and even buyers hold that affect this relationship.
If you’re just launching your real estate business or are thinking of rebranding, standing out is going to be your biggest challenge. Your best bet at an edge against your competition is going to be your value proposition and how you deliver your message. So, this week, take some time to develop (or re-develop) your brand, shaping and sharing your offerings in a way that speaks to your local market area and assures consumers of your unique value.
Disciplinary complaints against appraisers have become more frequent over the last several years. Of course, not all appraisal complaints result in disciplinary action. If you have had a complaint issued against you, you’re probably curious about how it will be handled. Let’s take a 30,000-foot view of the enforcement process—the details of which will vary significantly from state to state.
The market remains strong for sellers at this time, but there are several things that you should go over with your client to prepare them and ensure that your clients are ready to market their home as effectively as possible. Most buyers will come to see the house once, and if they do not like what they see, they won’t write an offer, so the first impression is everything.
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