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…
Category: Commercial Appraisal and Covid-19
Impact of COVID-19 On Appraisals
As the impact of COVID continues to unfold and the real estate market grapples with rapidly changing information and market conditions – commercial appraisers have had to quickly adapt to a new way of gathering reliable and credible data to base their appraisal analysis from. At Simonson Appraisals, we have found great importance in real-time…
Appraisals and Valuation Concerns in the Current Market
Since the onset of COVID, market data remains sparse for certain property types. The team at Simonson Appraisals has found that one of the best tools we have to overcome this challenge while continuing to produce reliable and credible appraisals is speaking with owners, lenders and other market participants dealing with the different segments of…
2020 Banking and Construction Lending Trends for Minnesota
On March 11, 2020, the World Health Organization announced COVID-19 as a global pandemic (this day also happens to be my birthday so good or bad, it’s an easy date for me to remember). Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. At Simonson Appraisals,…
Commercial Real Estate Appraisal and Valuation in the Time of Covid-19: What Is the New Normal?
This post is co-written by Gary Van Cleve, Mitchell Simonson and Josh Folland This unprecedented time of pandemic has brought social interaction to an abrupt halt with cautious open-up just beginning. Americans have had to learn to live, work, educate their children, recreate, shop and otherwise transact business—all while social-distancing, self-isolating and not being physically present. Despite…