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CoreLogic Launches Commercial Real Estate Evaluation Service
Information, analytics, and business services provider CoreLogic introduced a new commercial property evaluation service on Wednesday that utilizes more than 7,500 real estate brokers and contract appraisers to provide commercial valuations for lenders, investors, and special servicers. According to the California-based company, the system allows users to quickly determine the current market rent for properties more cost effectively than formal commercial real estate appraisals. Evaluations are performed using the income approach and sales comparison approaches to value, providing an overview of local rental market conditions. The commercial evaluation panel was chosen based on the valuators’ local market knowledge and their experience evaluating and marketing specific property types. The new service can deliver a valuation in 10 business days on average, and users can order and track valuations online 24/7. All reports are reviewed by an internal quality control panel made up of commercial real estate valuation experts. “Banks, insurance companies, and whole loan and asset-backed investors currently have more than $3 trillion worth of exposure to commercial real estate,” said David Williams, VP of CoreLogic’s broker price opinion (BPO) operations. Williams went on to explain, “This past December, approximately 9.2 percent of the properties backing commercial mortgage bonds were more than 30 days delinquent. Similarly, many more properties are now underwater and cannot be refinanced. Having an updated, realistic assessment of the value of these properties and their net income stream is essential to reducing risk and determining market-based investment and work-out strategies.” If you would like to learn more about CoreLogic, please click here.  
Tech and Real Estate May Lead the Way
TORONTO, Sept. 22 /CNW/ - Nearly two-thirds (64 percent) of Chief Financial Officers (CFOs) surveyed plan on making investments once the economy improves, and the top areas they are targeting include information technology and real estate. Twenty-one percent of respondents said they will be sourcing new or upgraded information technology systems and 20 percent plan to invest in new locations or real estate. More than one-quarter (27 percent) do not plan on making any investments. The survey was developed by Robert Half Management Resources, the world's premier provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 270 CFOs across Canada. CFOs were asked, "In which one of the following areas are you most likely to invest once the economy improves?" Their responses: Will invest - 64% New or upgraded IT systems - 21% New locations or real estate - 20% New products or service lines - 16% Mergers or acquisitions - 6% Other - 1% None/will not invest - 27% Don't know/refused - 9% "As companies emerge from the downturn, previously postponed investments will again be considered, including technology infrastructure, new office locations and new product or service offerings," said David King, Executive Vice President for Robert Half Management Resources' Canadian operations. "Although finance executives may remain cautious when making large expenditures, they understand that these initiatives will help the company emerge stronger and more profitable." King added, "When making new investments in areas such as technology, companies will need to secure the right mix of specialized talent necessary to manage complex initiatives. Creating a staffing plan can help businesses maintain efficiency and effectiveness through periods of growth and transition." Wise Agent is Now Integrated with DocuSign First American Title Announces AgentFirst Real Estate App For iPhone and iPad Inman's Top 100 Most Influential People