Candidate for Designation Advisors Needed

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This month I would like to tell you about an easy way that you can share your knowledge and experience while giving back to the valuation profession.

Will you consider giving back a little to the profession that has given you so much?

The Appraisal Institute is seeking Designated members to serve as Advisors for Candidates for Designation. Before thinking you don’t have time, consider the following:

  • To become an Advisor, you need merely take a short (less than one hour) online orientation course.
  • You can choose how many Candidates for Designation you’d like to advise – from one to 10 individuals.
  • Each Candidate for Designation will require a minimum of just four phone calls, emails or visits per year.

Your achievement of a prestigious Appraisal Institute designation undoubtedly has helped you reap many benefits over the years. By encouraging AI Candidates for Designation and monitoring their progress as needed – encouraging Candidates to manage their own learning and guiding them to appropriate resources – you will help secure the future of the Appraisal Institute and will help elevate the professionalism of other appraisers. And you may earn up to 25 hours of AI continuing education credit!

Please take a moment now to view the free online Advisor orientation on the Appraisal Institute website.

It’s important that you act now. Please respond before Nov. 15. And thank you in advance for your participation!

Also, don’t forget that the Appraisal Institute is offering a program fee discount of

$25 to those who enroll by Oct. 31.

For more information, visit the Candidate for Designation page or email admissions@appraisalinstitute.org.

AI Refutes Realtor Claims on ‘Low’ Appraisals

In response to the National Association of Realtors again blaming faulty appraisals for holding back the housing recovery, AI spoke with key national media outlets to refute these claims and to set the record straight. AI was quoted in The New York Times, The Washington Post and other major media outlets. Visit the members-only AI in the News section on the Appraisal Institute’s website to see all recent media coverage.

As part of that effort, I had the opportunity to tape an interview with the National Association of Realtors’ “Real Estate Today” program, which will air this weekend on 180 stations in all 50 states, along with Sirius XM satellite radio (XM channel 168) and on 11,000 Realtor web sites. During the interview, I addressed how homeowners can help improve the appraisal value of their property, discussed how Realtors can work effectively with appraisers, and cleared up misconceptions about so-called “low” appraisals “killing” home sales.

Click here to see a state-by-state list of stations and times; I hope you’ll tune in and listen to the interview this weekend.

AI to Work with Colorado on Valuing ‘Green’ Homes
 
The Appraisal Institute has signed a memorandum of understanding with the state of Colorado to promote a wide use of tools to document home energy features. The groups also will jointly develop valuation studies.

The memorandum of understanding, signed by Colorado Gov. John Hickenlooper and Appraisal Institute CEO Frederick H. Grubbe, seeks to address a need for data in valuing homes with green and energy-efficient features. Click here to see the MOU.
 
Other News Around AI

And finally, here’s some other important news from the Appraisal Institute:

  • The Appraisal Institute has published a book. “Self Storage Economics and Appraisal” will be available Oct. 29. Click here to purchase.
  • The Appraisal Institute is now offering two online courses: “Introduction to Green Buildings: Principles & Concepts” and “Case Studies in Appraising Green Residential Buildings.” Learn more about these courses and AI’s Valuation of Sustainable Buildings Professional Development Program here.
  • AI has created a Knowledge Center, which is available on the website. The Knowledge Center features programs developed by the Appraisal Institute, and downloadable electronic materials are immediately accessible.

If you have an “opinion of value,” please share your comments.

Realtors Upset by ‘Excessive’ Appraiser Comp Requirements

Some lenders have started mandating that appraisers provide as many as eight to 10 comparable transactions in their reports, which the National Association of Realtors called “excessive” in an Oct. 11 news release. reports-paperworkThey alleged that the requirement was affecting home sales.

Prior to the housing crisis, lenders typically required appraiser reports to include a minimum of three comparables when providing an opinion of value for a property.

The appraiser must consider all relevant transactions that have occurred in the market area and then determine which of those transactions should be used in the analysis to arrive at a credible, reliable opinion of value for the subject property.

[Read more…]

Appraisal Institute Shares Consumer Tips for Appraisals

For consumers trying to buy or sell a home or to refinance, obtaining an appraisal is a key step in the process.

To help appraisers develop credible, reliable opinions of value, home buyers and sellers should consider taking the following actions.

Accompany the appraiser during the inspection. Contrary to incorrect interpretations of appraiser independence requirements, appraisers welcome information that would assist development of credible assignment results. [Read more…]