Halle Hughes from our team gleaned the following insights from the Twin Cities Apartment Summit: Twin Cities DevelopmentUnit deliveries in the Twin Cities are forecasted to decline by 60% in 2025, falling from an average of 11,000 units per year to just 4,000. Notably, affordable housing will make up an estimated 40% of new construction,…

Year-End Gratitude & 2024 Accomplishments
2024 – A Year of Growth Thank you to all of our great clients and referral friends for your trust in using Simonson Appraisals as your commercial real estate appraisal and valuation partner. Your confidence in our expertise drives us to deliver excellence every day. 2024 Highlights: Major projects included: The attached chart summarizes the…

Downtown Minneapolis CRE Market Update
Downtown Minneapolis, despite current headlines in real estate and news articles, remains a major driver of our economy and state. We need a thriving downtown economic engine. It spills out into every aspect of the economy and beyond. With many great speakers, here are my top distinctions from the Downtown Minneapolis Summit hosted by the…

Helping Lenders Navigate the Commercial Real Estate Appraisal Process
As year-end is approaching, we reflect on the past year and look ahead to the future. We’re grateful to work across several states and with so many great clients! In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. On several occasions, we were presented information…

Create More Impact, Fun and Time In Your Life!
In addition to being committed to the profession of appraising commercial real estate, our team is comprised of human beings seeking to continually improve across all facets of life. Whether its showing up as the best parent, partner or friend or striving to raise our standards of health and productivity, a steady commitment to constant…

Inflation, Interest Rates and Commercial Real Estate
With rising inflation and multiple interest rate increases in 2022, both are hot topics impacting the commercial real estate industry. We share our latest findings which help ensure we continue providing credible appraisals and valuations. Inflation and Interest Rates Inflation is running at more than a 40-year high with the July 2022 Consumer Price Index…

2021 Twin Cities Apartment Market Trends
I think we can all agree that 2021 was another year of great challenge and historic change. With that, also comes great opportunity. As we move into a new year, it’s natural to question what’s in store for the commercial real estate market in 2022. In this article, we will share the Twin Cities apartment…

Top 6 Commercial Appraisal FAQ’s
So, you are getting ready to request an appraisal on a potential commercial property deal but have a few questions before you decide on what appraisal company to use. We’ve compiled the top six most frequently asked questions about our industry and appraisal reports so that you can navigate the appraisal world with ease. Let’s…

Valuation – How Much is My Property Really Worth?
The value of a commercial property is an important piece of information in many aspects. Whether you’re the purchaser looking for financing, the seller hoping to attain maximum profit, the appraisal review department at a bank, or an attorney –the value is what provides you with the confidence to make the right decision for your…

Working With Your Appraiser Helps Deliver a More Reasonable Value
The role of the appraiser is to provide objective, impartial, and unbiased opinions about the value of real property—providing assistance to those who own, manage, sell, invest in, and/or lend money on the security of real estate. Here are a few things that highlight the items important to prepare an accurate and reasonable appraisal. When…