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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AI Submits Letter to ASC Opposing Appraisal Waivers

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I’m pleased to report that AI has taken another important step in its ongoing advocacy efforts on behalf of the valuation profession! Learn more about that and other important updates during the past month.

AI Submits Letter to ASC Opposing Appraisal Waivers

The Appraisal Institute on Dec. 7 joined nearly two dozen valuation organizations in submitting a letter to the Appraisal Subcommittee regarding a request from TriStar Bank for a temporary waiver of certain requirements to utilize a certified appraiser under Title XI of FIRREA.

If the waiver is approved, it would apply to all institutions, not just the requesting organization.

Read the letter.

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4 Reasons to Hire an Appraiser Trainee

Appraisers who take on trainees can experience numerous benefits, including enhancing earning opportunities, saving time, learning new skills and planning for the future.

Enhance Earning Potential

Although it costs money to hire a trainee, doing so could allow appraisers to spend more time meeting with prospective clients and marketing the business. In other words, if a trainee can be in the office taking care of certain tasks, the appraiser should have more time to network and focus on bringing in new business. And when appraisers land new clients, they have a trainee to help them do the work.

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The Value of the SRA Designation

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By Woody R. Fincham, SRA, AI-RRS

As co-chair of the Appraisal Institute’s Residential Appraiser Project Team, I’m often asked why residential appraisers should pursue AI’s SRA designation. Does it really help generate assignments, I’m asked?

I can tell you emphatically that there is great value in the SRA designation. Here’s just one story of how it’s helped my career.

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4 Updates to AI’s Residential Green and Energy Efficient Addendum

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By Sandra K. Adomatis, SRA, LEED Green Associate

The AI Reports® Residential Green and Energy Efficient Addendum has a new look and enhancements that make it more useful in the real estate industry. As building science changes the way homes are built, the Addendum also must change to remain relevant.

The appraisal form 1004 used by the mortgage industry does not address the current building methods or terms, and the use of the Addendum empowers appraisers to meet the appraisal standards in describing the property type and relevant characteristics.

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Deadline Approaching for Annual Conference Proposal Submissions

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If you’re planning to submit a presentation proposal for AI’s 2018 Annual Conference, this is your last opportunity! Learn more about that and other important updates during the past month.

Here’s Your Last Chance to Speak at the AI Annual Conference

The Appraisal Institute is seeking proposals by Dec. 1 ­– just one week away – for presentations at the organization’s 2018 Annual Conference, July 30-Aug. 1, in Nashville, Tennessee. The conference theme is “Setting the Stage for Success.” Attendees of previous AI Annual Conferences said they were particularly interested in these topics:

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AI Asks Congress to Limit VA Third-party Inspections

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The Appraisal Institute is continuing its proactive advocacy efforts in Washington on behalf of AI professionals. Learn more about that and other important updates during the past month.

AI Asks Congress to Limit VA Third-party Inspections

The Appraisal Institute on Oct. 10 called on the House Veterans Affairs Committee Subcommittee on Economic Opportunity to support the use of appraiser trainees over non-appraiser property inspectors when U.S. Department of Veterans Affairs fee appraisers utilize third-party inspections.

AI urged that H.R. 3561 be clarified to establish that third-party inspections would only be permitted in rural areas.

Read AI’s letter.

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AI Seeks Proposals for Sessions at 2018 Annual Conference

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The Appraisal Institute has a great opportunity for valuation professionals and others to gain visibility at the organization’s biggest event of the year. Learn more about that and see other important updates from AI during the past month.

AI Seeks Proposals for Sessions at 2018 Annual Conference
The Appraisal Institute is seeking proposals by Dec. 1 for presentations at the Appraisal Institute 2018 Annual Conference, July 30-Aug. 1, in Nashville, Tennessee. The conference theme is “Setting the Stage for Success.”

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