Benefits of Working as an Appraiser Trainee

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MelissaA mentor who is experienced and knowledgeable can help a young valuation professional get his or her career started off on the right foot. In the Appraisal Institute’s latest video, two AI Designated Members discuss the ways they benefited from their time as an appraiser trainee.

Heather Placer, MAI, SRA, shared that her mentor’s availability and expertise helped to prepare her for many of the challenges she’s encountered in her career. [Read more…]

Appraisers Can Grow Business as Arbitrators

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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.

[Read more…]

Do Oil Spills Impact Home Values?

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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.

[Read more…]

Register Now for the 2018 Appraisal Institute Annual Conference

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stillRegistration is now open for the 2018 Appraisal Institute Annual Conference, July 30 – Aug. 1, in Nashville, Tennessee!

In the Appraisal Institute’s latest video, 2018 President James L. Murrett, MAI, SRA, shares the exciting opportunities attendees of this year’s conference will have to learn, network and experience all Nashville has to offer, while staying in the brand new JW Marriott! [Read more…]

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.

[Read more…]

Key Differences Between Appraisals and Home Inspections

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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.

[Read more…]

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.

[Read more…]