The Appraisal Institute typically celebrates some of the valuation profession’s best and brightest with awards at each year’s AI Annual Conference. Since the 2020 event was postponed due to the pandemic, we virtually celebrated with awards from the Appraisal Institute, the Appraisal Institute Education and Relief Foundation and The Appraisal Journal. Learn more about that, and other timely updates, from the past month.
17 Professionals Honored with Awards
I’d like to personally congratulate the valuation professionals, and others, who were recognized by their peers at this week’s virtual Appraisal Institute Awards Ceremony, including Sandra K. Adomatis, SRA, who was honored with the Lifetime Achievement Award, and Outstanding Service Award recipients James L. Henderson, SRA; Charles R. Mills, MAI, SRA, AI-GRS; and César Servando Cantú Martínez, MAI, SRA, AI-GRS.
This year’s President’s Award recipients were Gary T. Crabtree, SRA, of Bakersfield, California; William Garber of Montclair, Virginia; Paula K. Konikoff, JD, MAI, AI-GRS, of Los Angeles; Jeffrey E. Liskar, Esq., of Chicago; Stephen D. Roach, MAI, SRA, AI-GRS, of San Diego; Leslie P. Sellers, MAI, SRA, AI-GRS, of Clinton, Tennessee; and Gary S. Wright, MAI, SRA, of Cincinnati.
Winners of AI Education and Relief Foundation awards were: Maureen B. Sweeney, SRA, AI-RRS, of Chicago (George L. Schmutz Award); Suzanne Siradas of Chicago (Dr. William N. Kinnard, Jr. Award); Michael C. McCall, MAI, of Bon Air, Virginia (James H. Pritchett Award); and Stephen D. Roach, MAI, SRA, AI-GRS, of San Diego (Y.T. and Louise Lee Lum Award).
Winners of The Appraisal Journal awards were: Adabayo A. Adanri, Ph.D., SRA, of Bloomington, Illinois, and Han B. Kang, Ph.D., of Wesley Chapel, Florida (Richard U. Ratcliff Award); Sandra K. Adomatis, SRA, of Punta Gorda, Florida (Swango Award); and David W. Koepke of Richardson, Texas (Armstrong/Kahn Award).
Read more about the award winners.
AI Publishes ‘The Appraisal of Real Estate,’ 15th Edition
As you may know, the Appraisal Institute’s body of knowledge expanded earlier this month with the publication of “The Appraisal of Real Estate,” 15th edition. We find ourselves in a situation much like 2008 today, with aglobal pandemic and social justice concerns affecting all areas of the economy.
“The Appraisal of Real Estate,” 15th edition, is a book that fits current times. It reflects a renewed commitment to the essential principles of appraisal and the sound application of recognized valuation methodology. In addition to updated information on changes in real estate markets and valuation standards, longtime readers of “The Appraisal of Real Estate” will notice these significant changes in this edition:
- New chapters focused on applications of market analysis and highest and best use analysis;
- Additional emphasis on identifying the property rights to be appraised in an appraisal assignment; and
- Deeper discussion of accepted techniques for allocating value among real estate, personal property and non-realty items.
In this book, readers will notice the expanded discussion of market analysis and highest and best use, with new chapters clarifying these important concepts and demonstrating procedures for their application. Readers will also notice the relationship between market analysis and highest and best use is made explicit and described in a step-by-step analytic procedure. Lastly, the major development in this new edition is the emphasis on the necessity of definitively describing the property rights to be appraised in an appraisal assignment to ensure that all the necessary steps are taken to produce a credible value conclusion.
Order your copy today!
AI Strives to Expand Diversity, Combat Alleged Valuation Bias
As our nation continues reflecting on important matters of racial justice, the Appraisal Institute is reiterating its efforts to expand opportunities for aspiring appraisers and help combat alleged bias in valuation. We are doing our best to explore additional actions to reaffirm existing requirements including further research, guidance and education on matters relating to real estate market trends, bias and independence.
Currently, AI has several existing programs concentrating on this issue, including the Appraiser Diversity Pipeline Initiative with Fannie Mae and the National Urban League, along with the Minorities and Women Course Scholarship Program from the Appraisal Institute Education and Relief Foundation. Additionally, the Appraisal Institute has a newly formed Women’s Initiative Committee, whose discussions have centered on scholarship and mentorship opportunities in the profession. Our recent conversations with leadership at The Appraisal Foundation have presented an opportunity for the Appraisal Institute to partner with TAF on getting more historically black colleges and universities involved in the undergraduate and graduate review program that the Appraiser Qualifications Board has established.
Get the Latest News and Updates on How COVID-19 Affects Appraisers
The Appraisal Institute continues to provide vital information on how the coronavirus pandemic is affecting appraisers around the world. On our Coronavirus Updates page, you’ll continue to find news and updates from federal, state and Appraisal Institute resources. You’ll also find all of AI’s resources that are relevant to the pandemic including: AI Answers, webinars, ANO articles, guides, summaries and emails.
Please visit the Coronavirus Updates page on AI’s website.
New Education Offerings Premiere This Year
I’m excited to talk about some fantastic new AI new education offerings, which will premiere this year. As a reminder, I encourage residential appraisers to check out AI’s 7-hour seminar, ” Rapid Response: Market Analysis in Volatile Markets,” which will premiere Oct. 12, in Chicago. This seminar will show you how to locate contemporary data for your clients, and how to rapidly and accurately read and report on market changes. Register today!
I also encourage general and residential appraisers that serve lenders to check out AI’s 7-hour seminar, “Desktop Appraisals (Bifurcated, Hybrid) and Evaluations,” which will premiere Oct. 19, in Tampa, Fla. The seminar will review the expectations of alternative appraisal services, potential uses, appraisal standard implications, scope of work and liability concerns as it applies to residential and commercial assignments. Register here!
“Appraising Condos, Co-ops, and PUDs” is a 7-hour education offering that previously premiered online. However, the new and improved classroom version is set to debut this fall. In this course, you will learn why it is necessary to know how to identify the property type, why it is important to have a full understanding of the governing documents, why you need to understand where it is located and why it’s critical to analyze the market. You’ll also examine the four specific groups of community organizations: condominiums, cooperatives, planned unit developments (PUDs), and condominium hotels. Stay tuned for more details.
Other News Around the Appraisal Institute
And here’s some other important news from the Appraisal Institute:
- The Appraisal Institute Education and Relief Foundation offers scholarships for AI professionals pursuing designations and state certification. Specific offerings are available for minorities and women, Candidates for Designation and Practicing Affiliates should apply by the Oct. 1 deadline. Apply today: http://ow.ly/2sbt50BsMtA
- The Appraisal Institute continues to expand its social media activities. Be sure to follow AI on Facebook, Twitter, LinkedIn, YouTube and its blog, Opinions of Value.
Have a safe month!