U.s. Regulators Ready To Ease Check On Property Values

[NC Appraising]

https://www.reuters.com/article/us-...heck-on-property-values-sources-idUSKBN1FF24R

 

[TRESinc]

The Fed, OCC and FDIC declined to comment.

big surprise there....

 

[jay trotta]

Under existing rules, commercial real estate worth more than $250,000 must have an independent third-party check on the property value before a bank can lend against it.
That threshold would double to $500,000 under reforms being drawn up by the Federal Reserve, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), according to industry and regulatory sources.

The new appraisal standards are expected to be released next month, the sources added.

 

[Eli]

$500k, $500k, Do I hear million?

Who needs a commercial appraisal anyway?

 

[Meandering]

Remember when the market crashed in '08 and there was a bunch of hoopla about bankers, brokers and others always having "wild" meeting in Vegas?

Why has Vegas become the capital of Appraiser Land, with Expos and Summits and now this?

Appraisal Standards Board
Public Meeting
Las Vegas, NV - April 20, 2018
9:00 am - 12:00 pm PT


Other states have gambling.
Must be the legal hookers?????

.

 

[timd354]

Remember when the market crashed in '08 and there was a bunch of hoopla about bankers, brokers and others always having "wild" meeting in Vegas?

Why has Vegas become the capital of Appraiser Land, with Expos and Summits and now this?

Appraisal Standards Board
Public Meeting
Las Vegas, NV - April 20, 2018
9:00 am - 12:00 pm PT


Other states have gambling.
Must be the legal hookers?????

.

Vegas is the capital of conventions for just about every industry because it has over 120,000 hotel rooms (many of which are very inexpensive), a ton of flights, and many meeting/convention places and it is much cheaper than most other cities for a convention organizer to rent space.

 

[Meandering]

For a week long convention, you have a great point. But for a meeting?????

 

[timd354]

For a week long convention, you have a great point. But for a meeting?????

The ASB and and other TAF boards like to have meetings in different areas of the country every now and then in order for people in differing geographic locations to be given a better opportunity to attend in person. The last 3 ASB public meeting before this one were in Washington, DC, Denver, and Dallas

 

[TRESinc]

For a week long convention, you have a great point. But for a meeting?????

people still need hotels even for a day meeting since they all don't live in the same location...


https://www.thebalance.com/the-5-most-popular-convention-cities-in-the-us-1888287

While the catchy tagline “What happens in Vegas…” is probably being said somewhere at this very moment, the city’s top tourism officials are successfully getting convention travelers to remember something else: "Vegas means business.” Little does the average visitor know that beyond the glitz of the world-famous Strip lays more than 10.5 million of square feet of exhibition space, much of it state-of-the-art.

Las Vegas’ mega-resorts provide a one-stop, all-under-one-roof environment pairing the excitement of the city’s spectacular tourist experiences with top-notch meeting venues and services. The result is a combination few savvy meeting planners can resist – the best of both work and play.

During the day, meeting-goers enjoy the convenience of high-tech venues filled with touch screen, pre-wired audio/visual capabilities as well as the attention of dedicated on-site staff. At night, restaurants of celebrity chefs (Wolfgang Puck, Emeril Lagasse and Bobby Flay to name a few) and captivating shows (from Broadway smash Jersey Boys to the rollicking fun of Viva ELVIS by Cirque du Soleil) are steps away and available for group bookings.

Add to that the ease of traversing the densely packed 4.2 mile Strip (buses, cabs, limos, shuttles, monorails and even scooters abound) along with a major international airport just three miles away and it’s no wonder meeting planners are saying “Viva Las Vegas.”

 

[djd09]

Appraisal Standards Board
Public Meeting
Las Vegas, NV - April 20, 2018
9:00 am - 12:00 pm PT

What happens in Vegas stays in Vegas. so they say.

15th Street was probably booked up.