AI Bestows First AI-RRS Designation to non-Designated Member

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AI Bestows First AI-RRS Designation to non-Designated Member

The Appraisal Institute for the first time has bestowed a residential review designation to a non-Designated Member. Kathy Kocour of Olathe, Kansas, received her AI-RRS designation in June.

Kocour is a review appraiser for UMB Bank in Kansas City, Missouri, where she manages private wealth appraisals. She also is a certified general appraiser, and has a bachelor’s degree from the University of Kansas in Lawrence. Kocour is a candidate for the Appraisal Institute’s SRA designation.

Learn more about Kathy Kocour, AI-RRS.

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AI Releases Updated ‘Green’ Addendum

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I’m proud to share that the Appraisal Institute has taken another big step to solidify its role as the valuation profession’s thought leader!

AI Releases Updated ‘Green’ Addendum

The Appraisal Institute on May 16 released an updated version of its AI Reports® Residential Green and Energy Efficient Addendum, which will assist appraisers and users of appraisal services in understanding market reactions to green and energy efficient homes.

The Addendum will help appraisers meet appraisal standards requirements for identifying property characteristics that are relevant to that property type and value.

For its efforts in updating the Addendum, AI was recognized May 15 at the Better Buildings Summit 2017 as part of the U.S. Department of Energy Home Energy Information Accelerator in Washington, D.C.

Learn more about AI’s updated Addendum.

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Deadline Approaching for Online Conference Registration

 

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If you’re planning to be in Ottawa, Ontario, June 8-11, for the 2017 International Valuation Conference, time is running out to get the best available registration rate!

Deadline Approaching for Online Conference Registration
Online registration for the International Valuation Conference, hosted by the Appraisal Institute and the Appraisal Institute of Canada, closes May 30. After that, onsite registration will be available, but at a higher rate. Also, remember to book your room at one of the hotels where AI and AIC have negotiated room rates: The Novotel Ottawa (reference Appraisal Institute/Appraisal Institute of Canada) and Les Suites Ottawa (reference group code AIC2017).

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Cautious Optimism on Appraisal Thresholds

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The following is a guest blog by Justin D. Slack, MAI, SRA, AI-GRS, AI-RRS.

While urging caution to federal regulators on raising appraisal thresholds, the Appraisal Institute is heartened by the agencies’ latest action, in which safety and soundness concerns outweigh the zeal for loan production.

The Office of the Comptroller of the Currency, National Credit Union Administration, Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System on March 20 submitted a report to Congress on the results of a once every 10-year review of the Economic Growth and Regulatory Paperwork Reduction Act of 1996. The review, which technically began in 2014 with initial comment requests and included several rounds of outreach meetings into 2016, was summarized and presented in the Joint Report to Congress.

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Deadline Approaching for ‘Early Bird’ IVC Registration

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If you’re thinking about heading to Ottawa, Ontario, for the 2017 International Valuation Conference, you can save yourself some money by acting today!

Deadline Approaching for ‘Early Bird’ Registration 

If you’re planning to attend the International Valuation Conference, hosted by the Appraisal Institute and the Appraisal Institute of Canada, you have just over two weeks – until April 18 – to register at the lowest available rate. Also, remember to book your room at one of the hotels where AI and AIC have negotiated room rates.

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Hotel Rooms Available for International Valuation Conference

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If you’re planning to attend the International Valuation Conference, now is a great time to make your travel arrangements!

Hotel Rooms Available for International Valuation Conference

Hotel rooms are available at properties surrounding the Shaw Centre, site of the 2017 International Valuation Conference, being held June 8-11 in Ottawa, Ontario.

Early bird registration closes April 18, so register today. Get the best available rate, and book your room at one of the hotels where AI and the Appraisal Institute of Canada have negotiated room rates.

If your passport expires before December 8, be sure to renew it today. Average time for a response is six weeks, so apply now. And don’t forget to contact your mobile carrier to ensure that your phone will work in Canada.

Learn more about the International Valuation Conference and register.

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New ‘Yellow Book’ Now Available

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I hope that you’re off to a good start in the new year!

If you’ve been waiting for the new “Yellow Book” to become available, I have some exciting news to share.

New ‘Yellow Book’ Now Available

A new version of the Uniform Appraisal Standards for Federal Land Acquisitions, commonly known as the “Yellow Book,” is available. The “Yellow Book” is promulgated by the Interagency Land Acquisition Conference for use by all agencies for federal land acquisitions.

Download a free copy of the document.

Additionally, the Appraisal Institute is scheduled to debut a new version of its Uniform Appraisal Standards for Federal Land Acquisitions: Professional Applications course in April in Chicago. There also is a recorded webinar available, Yellow Book Changes – Overview for Appraisers.

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AI Premieres Latest Review Designation Course

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I hope you’re enjoying the holiday season and that 2016 was a successful year for you! This year has been both exciting and challenging for the valuation profession, and the Appraisal Institute has been busy on your behalf.

If you’ve thought about pursuing an Appraisal Institute review designation, or have been waiting for the latest education offering, I’m pleased to share with you some exciting news.

AI Premieres Latest Review Designation Course

Review Case Studies – Residential, which is the newest offering in AI’s review designation education line-up, premiered December 12-13 in Chicago.

Attendees who take the Review Case Studies – Residential course will apply the review process learned in Review Theory Residential by walking through a case study that focuses on a two-stage review assignment.

Learn more about the course and check the schedule for future offerings.

AI to Offer ‘Yellow Book’ Webinar

The Appraisal Institute will host a webinar, “2016 Yellow Book Changes – Overview for Appraisers,” in early 2017.

This program will provide an overview of the major changes to the 2016 version of the Uniform Appraisal Standards for Federal Land Acquisitions, commonly known as the Yellow Book. The program will provide an initial analysis of major issues and considerations that appraisers performing Yellow Book assignments should pay particular attention to, such as issues relating to “Larger Parcel,” market analysis and highest and best use.

The program will include a Q&A session for appraisers to understand the full context of the changes. Registration will open soon.

Other News Around AI

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

Finally, I want to thank you, again, for the opportunity to serve as your 2016 president. I have had the opportunity to personally meet or speak directly with many of you, and have enjoyed the feedback, constructive ideas and thoughts for our organization’s direction. I believe that the Appraisal Institute’s future is very bright as we move into our 85th year of service to membership, the profession and the public. We have so many opportunities in front of us, and I look forward to assisting in their pursuit.

I wish each of you a happy holiday season and look forward to continued service as your immediate past president next year under the leadership of 2017 President Jim Amorin MAI, SRA, AI-GRS, and the rest of the Board of Directors.

Sincerest wishes for a Happy New Year!

5 Misconceptions about Appraisals and Appraisers

While some real estate professionals and consumers might have a good understanding about appraisals and valuation professionals, some common misconceptions do exist.

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Myth: Assessed value should equate to market value.

Reality: While most states support the concept that assessed value approximate estimated market value, this often is not the case. Examples include when interior remodeling has occurred and the assessor is unaware of the improvements, or when properties in the vicinity have not been reassessed for an extended period.

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