Elevated home prices and rising interest rates are feeding into housing affordability woes for potential buyers–especially those with lower credit scores–reported Zillow, Seattle.
Category: News and Trends
Dealmaker: Berkadia Closes $28M in Multifamily Property Sales
Berkadia closed the sale of Aviary Village and The Cloisters, two South Carolina multifamily properties.
Todd Rasmussen of Equity Valuation Partners: Mortgage Investors and Asset Managers Should Do Some Valuations Themselves
Todd Rasmussen is President and Chief Operating Officer at Equity Valuation Partners, a provider of home value services, valuation tools and property value data for the real estate industry. He has been a residential appraiser since 1990 and started in the appraisal management company space in 2009.
Industry Briefs Aug. 1, 2022
ACES Quality Management, Denver, enhanced its reporting library within its flagship audit platform ACES Quality Management & Control software to help align with recent mortgage quality control reporting recommendations issued by Fannie Mae.
Dealmaker: Rexford Industrial Acquires $661M in Industrial Properties
Rexford Industrial Realty, Los Angeles, acquired seven southern California industrial properties for $660.9 million.
CBRE: Office Lease Rates Highlight Flight-to-Quality Trend
CBRE, Dallas, said office rental trends indicate a “flight to quality” playing out across 12 major U.S. markets as companies adapt their workplaces for hybrid work.
MBA Advocacy Update Aug. 1, 2022
Activities of note on Capitol Hill:
Last Wednesday night, Senator Joe Manchin, D-W.V., Senate Majority Leader Chuck Schumer, D-N.Y., and the White House reached agreement on a $740 billion reconciliation package, giving Senate Democrats another chance to enact broad climate and tax code changes before the end of Fiscal Year 2022.
MBA Chart of the Week July 29, 2022: Performance of Post-Forbearance Loan Workouts
According to MBA’s Monthly Loan Monitoring Survey, the share of loans in forbearance dropped slightly to 0.81 percent of servicers’ portfolio volume as of June 30, 2022, from 0.85 percent the prior month.
Quote
“The data underscores that companies are investing more in their offices and owners are investing more in their buildings to get into the top tier and stay in it.”
–Mike Watts, President of Americas Investor Leasing with CBRE.
Gross Domestic Product Contracts at 0.9% Pace
Real gross domestic product decreased at an annual rate of 0.9 percent in the second quarter–the second consecutive quarter with a decline–the Bureau of Economic Analysis said Thursday.