Appraisers Can Grow Business as Arbitrators

For valuation professionals looking to expand their business, serving as an arbitrator could provide abundant opportunities.

Valuation professionals can serve as arbitrators, expert witnesses or consultants during the arbitration process and can provide valuable input from the preliminary hearing to final award, according to a new book published by the Appraisal Institute.

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Do Oil Spills Impact Home Values?

Home values in Golden Beach, Maryland, near an April 2000 oil spill dropped in the short term, but rebounded after two years, according to a study published in The Appraisal Journal.

TAJ_Win18_Cover1 (002)“A Pipeline Spill Revisited: How Long Do Impacts on Home Prices Last?” by Richard J. Roddewig, MAI, Charles T. Brigden and Anne S. Baxendale revisits a case study of homes near an April 2000 oil spill to examine changes in real estate prices in the following years. Although home values initially dropped 10.9 percent to 12.6 percent, the latest research shows prices overcame their losses by 2002.

Read “A Pipeline Spill Revisited: How Long Do Impacts on Home Prices Last?” in the Winter 2018 issue of The Appraisal Journal.

AI Backs Revisions as Senate OKs Banking Reform Bill

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I’m proud to tell you that the Appraisal Institute continued its legislative and regulatory advocacy leadership in March, working for the entire valuation profession! Here’s more about that, and other news, from the past month.

AI Backs Revisions as Senate OKs Banking Reform Bill

The Appraisal Institute led nearly three dozen valuation organizations in supporting revisions to a bipartisan Senate bill that passed March 14. The measure, which now goes to the House, rolled back many post-financial-crisis banking rules found in the Dodd-Frank Act.

Although the Appraisal Institute took no position on the bill, it endorsed changes to proposed appraisal exemptions found in a previous version of the measure.

Learn more and read the Appraisal Institute’s letter.

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How Important is HERS to Appraised Value?

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By Sandra K. Adomatis, SRA, LEED Green Associate, and Ryan Meres, RESNET program director

Most builders and sales agents admit that in the homebuying process, the decision is usually all “hers”! That’s also true in the valuation process of a new construction home that is touted as an energy efficient or green home: a key part of the process should be HERS – the Home Energy Rating System report.

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Key Differences Between Appraisals and Home Inspections

Some consumers confuse the role of appraisers with that of home inspectors. But important differences exist between the services offered by those professionals.

Money vs. maintenance

Appraisals are completed to provide a credible, reliable opinion of a property’s value. Inspections are performed to give prospective homebuyers insight into a home’s plumbing, electrical, roof and other features to help determine its condition.

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Not ‘Just’ a Residential Appraiser

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By Rachel Massey, SRA, AI-RRS

I am not “just” a residential appraiser!

There’s no doubt that obtaining a certified general appraisal license opens doors to varied and interesting work. If it’s in one’s capacity to obtain this level, it’s a great idea.

But the idea of being “just” a residential appraiser must stop. Competent, highly qualified residential appraisers who study the market, know how to analyze and solve problems – and who can communicate effectively and succinctly – are very valuable to their clients.

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Mountain Climber, Author to Keynote AI Annual Conference

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I’m excited to share that the Appraisal Institute has chosen an outstanding keynote speaker for its 2018 Annual Conference! Here’s more about that, and other news, from the past month.

Mountain Climber, Author to Keynote AI Annual Conference

Alison Levine, a best-selling author and mountain climber focused on leading teams in extreme environments, will be the keynote speaker at the Appraisal Institute Annual Conference on July 30-Aug. 1 at the JW Marriott in Nashville, Tennessee.

Levine, the team captain of the first American Women’s Everest Expedition, asserts that the principles that apply to the world of extreme adventure also apply to demanding business environments. Having skied across the Arctic Circle to the geographic North Pole, her work demonstrates how progress can be made going backward, why egos are a good thing and how complacency can kill you.

I hope to see you at the AI Annual Conference, which will feature informative speakers, extensive opportunities for networking, continuing education (with the chance to earn Appraisal Institute and state continuing education credit), an awards ceremony, vendor exhibits and plenty of opportunities to explore Nashville.

Learn more about the AI Annual Conference. Registration opens in late March.

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Appraisal Institute Media Coverage Seen by 1 Billion Between July and December

The latest video from the Appraisal Institute highlights media coverage featuring AI and its professionals in the last six months of 2017.

AI and its professionals were featured in 1,252 news stories in 454 different media outlets across the country, garnering more than 1.2 billion views, for a publicity value of more than $1.2 million.

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4 Reasons an Appraisal May Not Match a Home’s List Price

Many factors help appraisers develop an opinion of value, which might result in an appraisal that doesn’t match the property’s sale price.

Emotional connection

An appraiser is there to give their unbiased professional opinion of a home’s value. Part of their job is to not have an emotional connection with the property. A homeowner usually has a figure in mind, which often reflects their attachment to the home itself.

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