AI Continues Efforts on SBA Going Concern Appraisals

The 2014 Annual Meeting is just over five months away, and I’m excited to share that AI has secured an exciting keynote speaker! Registration opens March 3, so be sure to sign up on Monday.

AI Announces Annual Meeting Speaker

Eugene A. Cernan, a retired astronaut and the last man to walk on the moon, will be the keynote speaker at the Appraisal Institute’s 2014 Annual Meeting, which will take place August 4-6 at the Hilton Austin in Austin, Texas. Cernan will talk about his 20 years as a naval aviator, including 13 years with NASA. Cernan left his mark on history with three missions in space as the pilot of Gemini IX, the lunar module pilot of Apollo X and the commander of Apollo XVII. He was the second American to walk in space and the last to walk on the moon.

In addition, Annual Meeting attendees will experience first-class education and extensive networking options, the opportunity to earn Appraisal Institute CE credit and state credit, cutting-edge exhibits from valuation profession vendors, an awards dinner honoring top valuation professionals and the chance to explore numerous social and recreational activities in Austin.

Learn more about the 2014 Annual Meeting.

AI Continues Efforts on SBA Going Concern Appraisals

The Appraisal Institute is deeply concerned about the recent policy change by the Small Business Administration that disqualifies several thousand experienced real estate appraisers from performing “going concern” appraisals of special purpose properties in certain situations. AI is exploring all possible options to resolve this issue on behalf of professional real estate appraisers. This includes fostering an industry coalition that comprises a strong list of real estate stakeholder organizations and conducting outreach with key oversight committees on Capitol Hill.

Congress is responding positively to our concerns, as evidenced by the recent confirmation hearing for the nominee for the SBA Administrator. In response to these and other concerns, the SBA is reviewing the policy once again which, is a positive development.

AI has received a lot of questions about the policy change. One open question relates to business valuation designations that have specialty areas on such things as personal property and real estate, and whether those specialty areas are now eligible to do going concern appraisals. Absent further information from the agency, some banks may only recognize specialties in business valuation. I raise this because many Designated members and candidates   of the Appraisal Institute may mistakenly believe that they can obtain a real property specialty to become a qualified source in the eyes of some clients, when that may not be the case.

AI Officials Represent Organization at Industry Events

President-Elect Lance Coyle, MAI, SRA, attended the Collateral Risk Network’s meeting February 5 in Fort Lauderdale, Fla.; Lance joined me in Frankfurt, Germany, February 20-21 for the HypZert Annual Meeting (HypZert is a German valuation professional association); Chief Executive Officer Fred Grubbe, CAE, addressed the AI Northern California Chapter’s Chief Appraisers Meeting February 21 in San Francisco; and I had the privilege of meeting with representatives from the Ministry of Justice of Kazakhstan February 26 in Washington, D.C., as well as with the Society of Business Analysts, and that same day with Congressman Blaine Luetkemeyer, R-Missouri, vice chair of the House Committee on Financial Services’ Subcommittee on Housing and Insurance. I also attended a fundraiser that day for Congressman Randy Neugebauer, R-Texas, chair of the House Committee on Financial Services’ Subcommittee on Housing and Insurance.

All of these opportunities help the Appraisal Institute enhance its stature as the pre-eminent valuation organization in the U.S. and around the world.

Other News Around AI

And here’s some other important news from the Appraisal Institute:

Have a great month!