In my first monthly email message, I want each of you to know how honored and excited I am to serve as your 2014 president. I look forward to working on your behalf in the coming year! Despite the nasty weather that’s embraced most of the U.S., the Appraisal Institute continues to move forward in many important areas, which are detailed below. I’m particularly pleased to share that AI will launch its new website on February 2, and I encourage you to check out all of the great new features and improved functionality. Here’s some more information on the website.
Appraisal Institute to Launch New Website This Weekend
The Appraisal Institute’s new and improved website will launch at 9 a.m. CST, February 2. The new site will feature a wide range of improvements to the overall user experience, including a comprehensive facelift and enhanced navigation. A PowerPoint presentation and FAQs throughout the site will provide tips and updates. AI also will unveil a mobile website on February 2.
SPECIAL NOTE: During the changeover to the new website, the Appraisal Institute’s website will be unavailable from 6 a.m. CST, Saturday, February 1, to 9 a.m. CST, Sunday, February 2. All web-related functions, including online education, will be unavailable during this time.
Appraisal Institute Repeats Opposition to SBA Policy
The Appraisal Institute continues to reiterate its opposition to a U.S. Small Business Administration policy update related to business appraisals and going concern appraisals. AI has encouraged the SBA to immediately reinstate the ability of qualified real estate appraisers to perform “going concern appraisals” related to special purpose property appraisal requirements. AI believes that reversing the current policy will avoid increased costs and application periods on lenders and consumers. The Appraisal Institute, the American Society of Farm Managers and Rural Appraisers and the American Bankers Association on November 20 wrote to the SBA seeking a reversal of the policy update, which took effect January 1, 2014. Appraisal Institute professionals with questions or comments on this issue may email Bill Garber, AI’s director, government and external relations:firstname.lastname@example.org.
AI Bestows First Review Designations in Organization’s History
Gilbert A. Valdez, MAI, SRA, AI-GRS, of Huntington Beach, Calif., and Jennifer Marshall, SRA, AI-RRS, of Venice, Fla., received the first individual appraisal review designations. Justin Slack, MAI, SRA, AI-GRS, AI-RRS, of Kent, Wash., is the first individual to receive both appraisal review designations. The Appraisal Institute implemented its appraisal review designation program January 1 after years of research and preparation, responding in part to the growing and important role that appraisal review plays in risk management and mitigation for many clients and users of appraisal services. According to Appraisal Institute research, there were approximately 12,500 review appraisers in the United States in 2012. As of December 31, 2013, the total U.S. appraiser population stood at 81,050 individuals, reflecting all active state-licensed and -certified appraisers. Learn more about the review designations (after February 2, click here).
Nominations for 2015 AI Vice President Due February 14
The Appraisal Institute is seeking the names of Designated members interested in serving as the organization’s 2015 vice president. The deadline for submission is February 14. The 2015 vice president will become president-elect in 2016, president in 2017 and immediate past president in 2018. Nominees cannot serve as a member of the National Nominating Committee at any time during the year in which their candidacy would be considered. This requirement does not preclude consideration for the office in future years. Those interested in serving or recommending another member for the position should submit recommendations in writing to Richard L. Borges II, MAI, SRA, chair, 2014 National Nominating Committee, c/o Darlene Grass, Appraisal Institute, 200 W. Madison St., Suite 1500; Chicago, IL, 60606. Complete qualification requirements may be found on the Appraisal Institute website(after February 2, click here).
Other News Around AI
And here’s some other important news from the Appraisal Institute:
- AI’s 2013 media coverage once again achieved record numbers. Last year, the Appraisal Institute and its professionals appeared in more than 2,000 stories that ran in nearly 1,000 media outlets and were potentially read, seen or heard nearly 2.9 billion times … with a value of more than $8.8 million (according to vendor’s proprietary formula).
View a four-minute video of AI’s July-December 2013 media coverage highlights on the Appraisal Institute’s YouTube channel.
- “The Student Handbook to The Appraisal of Real Estate, 14th Edition”will be available on February 2. Be sure to get your copy of this valuable resource.
- The Appraisal Institute and the Institute for Market Transformation issued guidance January 9 on valuing green and energy-efficient buildings. Read the AI news release (after February 2, click here).
- The Appraisal Institute posted three new videos to its YouTube channel this month. Jim Murrett, MAI, SRA, discusses why he joined the Appraisal Institute; Mark R. Linné, MAI, SRA, addresses how data is changing the valuation profession; and I share the latest details about AI’s review designation program.
- The Appraisal Institute continues to grow its social media presence. Be sure to follow AI on Facebook, Twitter, LinkedIn and YouTube.
Have a great month … and stay warm!