Appraisal Institute Government Relations - COVID-19 Update
Industry Resources - Covid-19
North Carolina Appraisal Board Updates
Limiting Liability Suggested Language for COVID-19
From Claudia Gaglione, National Claims Counsel.
BULLETIN to Freddie Mac Sellers / Selling Guidance Related to COVID-19
This bulletin includes temporary guidance related to property valuation requirements and more.
Fannie Mae Modified Instructions for Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Desktop Appraisals
Released March 23, 2020. For Desktop Appraisals using COVID-19 temporary flexibilities and reported on Fannie Mae form 1004, 1073, 1025, 1004C, or 2090.
Fannie Mae Modified Instructions for Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Appraisers with Exterior-Only Inspection
Released March 23, 2020. For Exterior-Only Appraisals using COVID-19 temporary flexibilities and reported on Fannie Mae form 2055, 1075, 2095, 1004C, or 1025.
The Appraisal Foundation - Coronavirus & Appraisers Q&A
Answers to questions regarding Coronavirus and Appraisers.
The Appraisal Foundation - USPAP 2020-21 Q&A
Issued March 17, 2020. Form of guidance issued by the Appraisal Standards Board in regards to USPAP standards.
The Appraisal Institute Professional Practice Coronavirus Update
Guidance from the Appraisal Institute.
Valuation Legal - Free Webinar (Slides Only)
Legal and Risk Issues for Appraisers Stemming from the COVID-19 Crisis
Valuation Legal Webinar: “Legal and Risk Issues for Appraisers Stemming from the COVID-19 Crisis”
AI Answers: The post-pandemic office building of the future
Industry News
Week of January 12 - 19, 2021
More lender updates from Fannie Mae
Valuation Review
Fannie Mae recently updated appraisal matters in its Lender Letter (LL-2021-01) to all Fannie Mae single-family sellers. Several categories were addressed including risk management policy reminders and resources pertaining to appraisals…
Stockhouse
As part of the contemplated transaction, GHG is in the process of commissioning updated appraisals on these water assets. Documented historical valuations of the 4,000 acre feet of water rights and associated infrastructure are based on a 2013 and 2015 MAI appraisal and engineering reports, as well as a water law attorney’s comprehensive summary of various historic water rights appraisals and their relationship with land values dated March 2017…
DI People: GameStop, Vari, MediaKind and More Make Moves
Dallas Innovates
Rodman Schley [MAI, SRA], the senior managing director at Dallas-based BBG, a national due diligence commercial real estate firm, has been named the new national president at the Appraisal Institute…
FHFA Extends Relaxed Pandemic Lending Standards
Realtor Magazine
The Federal Housing Finance Agency announced it will continue to allow for alternative appraisals and employment verifications on government-backed loans until Feb. 28 to prevent settlement delays…
New plan for lake west of Boynton: Fish farm with 600 tilapia, 500 catfish, 200 tambaqui
The Palm Beach Post (West Palm Beach, Fla.)
Palm Beach County Chief Appraiser Tim Wilmath [MAI, SRA] said his office will appraise the property based on its use as of Jan. 1. If there was no agricultural use on that date, the landowner will lose the its agricultural designation, which will result in much higher taxes for the property owner and will help the county in its legal fight to force the partnership to obtain county permits for the project…
Racial Bias in Appraisals – Fact or Fiction?
Appraisal Buzz
Jillian White is the Chief Valuation Officer for the mortgage lender, Better.com. Jillian is an appraiser of 17 years with her SRA. Jillian gave a detailed and personal look into black homeownership. Jillian spoke of her aunt and uncle selling their home and being asked by the listing agent to remove all photos and indicators that an African American family resided in the home…
HVS 2020 U.S. Hotel Franchise Fee Guide - By Kasia M. Russell and Bomie Kim
Hotel Resource
Kasia Russell, MAI is a Managing Director and Senior Partner with the HVS Portland office. HVS leaders now live in and work from more than 30 markets throughout the North American region, including San Diego, LA, San Francisco, Portland, Seattle, Vancouver, Las Vegas, and Phoenix in the west. Kasia has front-line hotel experience with Extended Stay America and Best Western and also worked for the Hotel Bellwether in Bellingham, Washington, and the Skagit Valley Resort in Bow, Washington. She holds the MAI designation and is a state-certified appraiser in Oregon and surrounding states…
Pcv Murcor Commemorates 40th Anniversary
RFDTV (Nashville, Tenn.), PR.com
PCV originated as Pacific Coast Valuations Murray Corporation, a Los Angeles-focused appraisal firm in 1981. What started from our founder’s one-bedroom condo, Keith D. Murray, MAI, IFAS, has grown into a national organization servicing the nation’s largest lenders, servicers, and government-sponsored entities…
CityBizList
Wagner attended Drew University and the University of Lund in Lund, Sweden. He has been a member of many professional associations including the Appraisal Institute, the Council of Real Estate Brokerage Managers, Certified Commercial Investment Member, National Association of Home Builders, Realtors Land Institute, and the National Association of Realtors…
President’s message: 2020 is in our rearview mirror - by John Drew [MAI]
New England Real Estate Journal
2020 is in our rearview mirror, but like most things in 2020 the Massachusetts and Rhode Island Chapter of the Appraisal Institute held their Holiday Meeting and Installation of Officers virtually on December 2nd. The MA-RI Chapter will once again be entering a new year with a dedicated and experienced slate of officers and directors…
Appraisal Institute Hosts Free Appraiser Diversity Workshop on Jan. 30
RISMedia, RealEstateRama
The Appraisal Institute is collaborating with the National Urban League and Fannie Mae to host a free virtual Appraiser Diversity Initiative workshop, “How to Become a Real Estate Appraiser,” Saturday, Jan. 30, noon – 1:15 p.m. EST…
Brightleaf Homes Gets High Value Appraisals
Zero Energy Project
“We always insist on an appraiser who is qualified to value a high-performance home,” he said. Being qualified means that they have passed the Appraisal Institute’s Valuation of Sustainable Buildings Professional Development Program, and are listed on the program’s Residential Registry.
PCV MURCOR COMMEMORATES 40th ANNIVERSARY
WBOC-TV Online (Salisbury, Md.), Einpresswire, WFMJ-TV Online
PCV originated as Pacific Coast Valuations Murray Corporation, a Los Angeles-focused appraisal firm in 1981. What started from our founder’s one-bedroom condo, Keith D. Murray, MAI, IFAS, has grown into a national organization servicing the nation’s largest lenders, servicers, and government-sponsored entities…
Appraisal Institute Helps Tackle Unconscious Valuation Bias: Valuation Magazine
RealEstateRama, LexBlog
The Appraisal Institute is addressing unconscious valuation bias while also expanding opportunities for aspiring appraisers, according to an article in Valuation magazine’s third/fourth quarter 2020 issue…
BBG Senior Managing Director Rodman Schley Appointed as National President of Appraisal Institute
PR Newswire, Pittsburgh Post-Gazette, Arizona Republic (Phoenix), Markets Insider, Associated Press
(This article was in an additional 43 outlets.)
BBG, a leading national due diligence commercial real estate firm, today announced that the Appraisal Institute has elected Rodman Schley, BBG Senior Managing Director, MAI, SRA, as National President, effective Jan. 1, 2021…
FHFA Seeking Comments on Appraisal Process Overhaul
Florida Realtors
Could the appraisal process be headed for an update? The Federal Housing Finance Agency (FHFA) – the regulator to mortgage financing giants Fannie Mae and Freddie Mac – is requesting public input on policies and practices regarding the home appraisal process…
The Relationship Between Appraisers and Real Estate Agents
Appraisal Buzz
Today’s topic is The Relationship Between Appraisers and Real Estate Agents with Kim Bell, Florida Real Estate Appraiser, and Joan Trice, Founder of Allterra Group, LLC. We sat down with Kim and Joan to discuss the complicated relationships within the valuation process and mainly centered on why people should be arguing to talk to the appraiser to develop that relationship…
Form 8-K Highlands REIT, Inc. For: Jan 05
StreetInsider.com
The report furnished to the Board and the audit committee of the Board (the “Audit Committee”) by Real Globe complies with the reporting requirements set forth under Standard Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice and is certified by a member of the Appraisal Institute with the MAI designation…
2020 Housing Market Disruption Paves the Way From Transformation to Restoration
Santa Fe (N.M.) Beautiful Homes
Just one example is the disruption in the appraisal world. For months now, desktop and drive-by appraisals have been the go-to processes for appraising homes and enabled the mortgage lending process to continue. According to Genworth Mortgage Insurance Chief Appraiser Adam Johnston [SRA, AI-RRS], the use of desktop and drive-by appraisals have been a necessary adaptation to concerns about the spread of COVID-19, and may continue to be used as standard practice or as a go-to solution should we find ourselves in another situation, similar to COVID-19…
CFPB investigating Rocket Homes for illegal kickbacks
HousingWire
A judge slapped Quicken with an $11 million penalty in 2017 after it found the company guilty of influencing home appraisal values during the time leading up to the financial crisis. Quicken contested the claims, replying in a statement that it was “irrational to conclude that the customary practice in the 2004 to 2009 timeframe – where homeowners willingly provided their estimate of their homes value to the appraiser – could somehow result in a judgment against lenders for damages.”…
FHFA Seeks Comments on Overhauling Appraisal Process
Realtor Magazine
Could the appraisal process be headed for an update? The Federal Housing Finance Agency, the regulator to mortgage financing giants Fannie Mae and Freddie Mac, is requesting public input on policies and practices regarding the home appraisal process. FHFA is weighing a series of proposals, including one on increasing the valuation options for loans that are backed by Fannie and Freddie…
Week of January 5 - 11, 2021
Matthew Ross Joins Avison Young’s New York Office as a Director in Valuation Advisory Services
CityBizList, CityBizList - New York
Ross is currently a candidate for designation, Appraisal Institute (MAI), which he is on track to complete in 2021. He earned a degree in Finance from Fairleigh Dickinson University…
Federal regulators want to overhaul home appraisals — here’s that could hurt both buyers and sellers
MarketWatch, MSN Money, MorningStar
“National appraisal standards and ethics requirements already require appraisers to perform their work with impartiality, objectivity and independence, without bias,” said Jefferson Sherman, MAI, AI-GRS, president of the Appraisal Institute...
Mount Pleasant’s Jody Bishop to serve as Appraisal Institute president-elect
Moultrie (Charleston, S.C.) News
Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant, began a one-year term as president-elect of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with over 17,000 professionals in over 50 countries…
Louisiana Appraiser Board Seeks to Have Appraisal Fee Price-Fixing Case Heard by Supreme Court
Appraisal Buzz
The first case about real estate appraisers to reach the U.S. Supreme Court in almost 60 years may concern the Federal Trade Commission’s price-fixing claims against the Louisiana Real Estate Appraisers Board. Would that be a good thing for appraisers? Well, maybe it’s not the best timing…
FHFA issues RFI on appraisal policies
Valuation Review
The Federal Housing Finance Agency (FHFA) recently issued a request for input (RFI) on appraisal-related policies, practices, and processes, the FHFA announced in a release. The input received in response to the RFI will be used by FHFA to determine the necessary modifications needed to ensure Fannie Mae and Freddie Mac (the Enterprises) operate in a safe and sound manner…
Apprise expands multifamily valuation business
Valuation Review
“Both Bonnie and Matt bring incredible valuation experience and local market expertise to the Apprise team,” Apprise Valuation Lead and Managing Director Meghan Czechowski [MAI] said in a release…
Obituary – Anthony C. DiGiovanni
San Marina Tribune (San Marino, Calif.)
Anthony DiGiovanni [SRA] of San Marino passed away peacefully on December 8, 2020, after a brief illness…
FHFA Requests Input on Appraisal Policy Modernization
DS News (Dallas)
The Federal Housing Finance Agency (FHFA) has issued a Request for Input (RFI) related to its appraisal policies, practices, and processes…
The Roanoker (Roanoke, Va.)
Chris Vail became a certified general appraiser at 25, and recently completed his MAI designation from Appraisal Institute, the highest ranking one can earn in the field…
Week of December 29, 2020 - January 4, 2021
Appraiser defends assessments of Delray Beach commercial properties on list sent to mayor
The Palm Beach (Fla.) Post
The Palm Beach Post reviewed the assessments with Chief Appraiser Tim Wilmath [MAI, SRA]. He defended them, noting that sometimes sale prices, as strange as it may seem, are not a good indicator of the value of a commercial property…
FHFA Seeks Input on Appraisal Policies for Home Mortgage Loans
JD Surpa
The Federal Housing Finance Agency (FHFA) recently issued a request for information (RFI) seeking input on appraisal-related policies, practices and processes in connection with home mortgage loans. Comments will be due 60 days after the RFI is published in the Federal Register…
Novogradac Promotes Five Principals Across Country to Partner
KTVN (Reno, Nev.), Community Post, Pittsburgh Post-Gazette, Biz Wire Express, Benzinga
(This article was included in an additional 57 outlets.)
National accounting and consulting enterprise Novogradac elevated George Barlow and Rob Bryant of the Dover, Ohio, office; Chris Key of the Atlanta office; Brent Parker of the Long Beach, Calif., office; and Lindsey Sutton [Candidate for Designation] of the Austin, Texas, office to partner. Novogradac, which specializes in affordable housing, community development, historic preservation and renewable energy, has 67 partners in more than 25 cities nationwide…
Pinellas County's 2020 year in review
Tampa Bay Newspaper (Seminole, Fla.)
In local elections, area voters favored the incumbents in most county races. Incumbents that kept their posts included Sheriff Bob Gualtieri, Property Appraiser Mike Twitty [MAI], Tax Collector Charles W. Thomas, Supervisor of Elections Julie Marcus, and County Commissioners Janet Long and Charlie Justice…
Appraisal Institute Names New President
Commercial Property Executive
Veteran real estate appraiser Rodman Schley [MAI, SRA] of Arvada, Colo., will take over as president of the Appraisal Institute on Jan. 1, the professional association announced Wednesday…
Appraisal Institute names Rodman Schley president
The Real Estate Channel
Rodman Schley [MAI, SRA] was selected to become the next president of the Appraisal Institute (AI) beginning Jan. 1, succeeding appraiser Jefferson Sherman [MAI, SRA, AI-GRS], according to the trade organization…
Rodman Schley to Become President of Appraisal Institute on Jan. 1
PressReleasePoint
Rodman Schley, MAI, SRA, of Arvada, Colorado, will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with over 17,000 professionals in almost 50 countries…
Appraisal Institute names Rodman Schley president
HousingWire
Rodman Schley [MAI, SRA] was selected to become the next president of the Appraisal Institute (AI) beginning Jan. 1, succeeding appraiser Jefferson Sherman [MAI, SRA, AI-GRS], according to the trade organization…
Jefferson Sherman shifts to past president role of Appraisal Institute
The News-Herald (Willoughby, Ohio)
Jefferson L. Sherman [MAI, SRA, AI-GRS] of Highland Heights, who led the Appraisal Institute through the coronavirus pandemic in 2020, will begin his one-year term as immediate past president on Jan. 1…
Will hybrid appraisals become the new normal?
HousingWire
The Federal Housing Finance Agency (FHFA) announced Monday it is requesting input on the appraisal policies, practices and processes of Fannie Mae and Freddie Mac, especially as it relates to the GSEs’ appraisal modernization efforts…
Week of December 15-21, 2020
Random Thoughts of an Appraiser
Appraisal Buzz
(This article was written by Matt Simmons, Candidate for Designation.)
We should really focus on excellent analysis relative to condition and quality. They’re the weakest part of valuation algorithms. If we want to differentiate from them as appraisers, we must be able to explain our strengths to the market. As with any competitor – find the weak spot and make it your strength…
Value of Loeffler’s Mansion Dropped $6M Overnight—and Nobody Can Explain Why
Daily Beast
The value of the estate, as appraised by Fulton County government officials for the purpose of calculating annual property tax dues, remained the same, $10.5 million, for the next seven years…
Calaveras native put her retirement in storage … literally
Calveras Enterprise (San Andreas, Calif.)
Most would look at an empty piece of land off Highway 26 and think it was good for nothing more than grazing cattle. Donna Whitaker [MAI, AI-GRS] saw it was perfect for a smart retirement. The Mokelumne Hill native made the decision to return to the area to build her retirement plan: Toyon Smart Storage…
BBG Acquires Arizona Real Estate Appraisal Firm
PR Newswire, Buffalo (N.Y.) News Online, Pittsburgh Post-Gazette, The Oklahoman (Oklahoma City), Manhattan Week
(This article was included in an additional 45 outlets.)
Several Nava Hurd Advisory Group associates will join BBG's office serving the metropolitan Phoenix area including well-respected and longtime industry leaders Albert Nava, MAI, SGA, and Barott Hurd, both who were named as Directors…
Apprise Expands Multifamily Valuation Business with Two New Senior Directors
PR Newswire, Pittsburgh Post-Gazette, CityBizList, TickerTech.com, Yahoo! Finance
(This article was included in an additional 52 outlets.)
Walker & Dunlop, Inc. and GeoPhy announced today that their multifamily appraisal business, Apprise, has hired Senior Directors Bonnie Longo, MAI, SRA and Matt Heidt…
Week of December 8 - 14, 2020
Las Vegas Sun (Henderson, Nev.)
The Commercial Alliance Las Vegas announced its newly elected officers and directors for 2021, with Petra Latch [MAI] becoming president of the commercial real estate organization starting January 1. Latch, a member of the Appraisal Institute, is executive director of valuation and advisory at Cushman & Wakefield…
Fannie Mae extends relaxed appraisal, lending standards
HousingWIre
The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec. 31, 2020, however Fannie Mae is now pushing that back to at least Jan. 31, 2021…
FHFA extends COVID-related loan origination flexibilities
Mortgage Professional America
Fannie and Freddie will continue to offer alternative appraisals on purchase and rate term refinance loans, as well as alternative methods for documenting income and verifying employment before loan closing…
A Maine residential appraiser’s perspective - by Russell Barrows [SRA]
New England Real Estate Journal
2020 has certainly been a dynamically challenging year, if not the most challenging year since the beginning of the “mortgage meltdown” time and likely even more than that! The year began with a continuation of declining interest rate from 2019…
Surprising housing trends in NH - by Stephen Bergeron [MAI]
New England Real Estate Journal
The pandemic has led to a variety of unforeseen trends in consumer behavior, such as a spike in demand for random items like pressure treated wood and real Christmas trees…
MA/RI Chapter of the Appraisal Institute message: - by George Demopulos
New England Real Estate Journal
he Massachusetts and Rhode Island Chapter of the Appraisal Institute is hoping all of our friends and clients are continuing to stay safe during the COVID-19 Pandemic. As this is my last president’s letter I would like to thank everyone for their continued support of the Appraisal Institute and the local MA and RI Chapter…
Addressing bias in appraisals - by Bill Pastuszek [MAI]
New England Real Estate Journal
As professional real estate appraisers, we proudly point to the accomplishments that the profession has made over the past half century. We look to the ongoing development of high performance standards for our various practice areas…
Real estate appraisers board asks SCOTUS for help in suit brought by FTC
Business Report
The Louisiana Real Estate Appraisers Board has asked the U.S. Supreme Court to intervene in its long-running antitrust case with the Federal Trade Commission…
REALTORS®: Appraisals Commonly Cause Transaction Delays
Realtor Magazine
The appraisal can be a stressful process and may threaten to derail transactions. Twenty-one percent of REALTORS® say “appraisal issues” delayed their sales contracts in October, according to the most recent REALTORS® Confidence Index. Appraisal issues led to 13% of contracts being terminated…
Agencies announce threshold for smaller loan exemptions
Valuation Review
The Consumer Financial Protection Bureau (CFPB), Federal Reserve Board, and Office of the Comptroller of the Currency recently announced the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2021 will remain at $27,200, as it was in 2020, the CFPB announced in a press release…
Tax Court upholds 2018 assessment of Jackson Co. property
The Indiana Lawyer (Indianapolis)
Still dissatisfied, the DuSablons sought review with the Indiana Board of Tax Review. There, Jackson County assessor Katie Kaufman presented an appraisal report, along with the testimony of its preparer, Richard Borges [MAI, SRA, AI-GRS, AI-RRS], an Indiana certified general appraiser and member of the Appraisal Institute. That report found the home to be valued at $400,000, an amount determined by Borges using a sales comparison approach that evaluated the sales of three comparable properties near the subject property…
Week of November 24 - 30, 2020
JLL adds two staffers to Des Moines office
RE Journals
JLL has added Eric Caldwell [MAI] and Abi Reiland to its Des Moines, Iowa, office. As a senior vice president, Caldwell will lead the new Valuation Advisory business line. Reiland will join the agency office team as senior sales associate…
iCrowdNewswire
“With the critical issue of racial justice being examined throughout the country, the Appraisal Institute is striving to expand opportunities for aspiring minority appraisers, combat unconscious bias in valuation and find solutions to promote the flow of credit in economically disadvantaged neighborhoods,” said Appraisal Institute President Jefferson L. Sherman, MAI, AI-GRS…
Persis Jeanette Steck Blaesing, 1934-2020
The Sun-Gazette (Exeter, Calif.)
Persis Jeanette Steck Blaesing [SRA] of Exeter, Calif., passed away on Nov. 11, 2020 in Visalia, Calif. She was 86 years old. Persis was born in Chicago, Ill., to Jeanette and Albert Steck on March 28, 1934…
Colorado murder home sits in legal limbo two years after Chris Watts killed his family
The Denver Channel
The couple bought the home brand new for $399,954 in 2013, and according to Zillow.com, it’s now valued at close to $600,000. Real estate appraiser Orell Anderson [MAI] said that price is way off base…
Fannie has more appraiser updates
Valuation Review
In its recent Q&A update for appraisers, the question was posed: When using the appraisal flexibilities provided in LL-2020-04, may appraisers make assumptions concerning relevant characteristics of the subject property, such as interior condition, without a data source?...
Week of November 17 - 23, 2020
Multi-Housing News
Milhaus has promoted Greg Martin [MAI] to chief operating officer. In his new role, Martin is set to provide strategic direction alongside CEO Tadd Miller, and manage daily operations of projects, from inception through recapitalization/sale. The company is headquartered in Indianapolis…
Appraisal Buzz, News Break
A bill to amend Illinois’ appraiser and real estate licensing acts to address discrimination. With increased public attention on the issue, complaints alleging unlawful discrimination are emerging in the courts and before regulators in relation to appraisals…
Hotel News Resource, Hotel Resource
Rod Clough, MAI, President - Americas, oversees strategy execution throughout 40 Americas locations. He recently brought together all US Valuation Consulting offices under common ownership, and has revolutionized the way the company is led and managed. This group of offices represents over 120 hotel industry professionals and executes over 4,000 assignments a year…
Stockhouse
The Appraisal Foundation and Appraisal Institute are pleased to announce a joint valuation symposium: Promoting Trust for Fair and Affordable Housing. This free symposium will give real estate appraisers and anyone with an interest in valuation the opportunity to hear from leaders across the appraisal profession, mortgage lending, and academia in a discussion on fair and affordable housing issues…
An unconscious bias? Biracial Denver couple says they faced discrimination on home appraisal
KMGH-TV ABC 7 (Denver), Yahoo! Finance
The appraiser finished up, but then the Mitchell family waited. It took nearly two months for the appraisal to come back. “My original impression was like, 'Whoa. Why?' There’s something about this that doesn’t look right,” Lorenzo said. “I was shocked when he appraised the house at only $405,000.”…
PR Newswire, Benzinga, Pittsburgh Post-Gazette, The Oklahoman (Oklahoma City, Okla.) Markets Insider
(This article was included in an additional 31 outlets.)
The Appraisal Foundation and Appraisal Institute are pleased to announce a joint valuation symposium: Promoting Trust for Fair and Affordable Housing. This free symposium will give real estate appraisers and anyone with an interest in valuation the opportunity to hear from leaders across the appraisal profession, mortgage lending, and academia in a discussion on fair and affordable housing issues…
HVS Announces Promotion of Tanya Pierson to Senior Managing Director
HVS (Johnstown, Colo.)
HVS is pleased to announce that Tanya Pierson, MAI, has been promoted to Senior Managing Director. Tanya is based in Minneapolis, Minnesota. She has over 25 years of experience across all facets of hospitality consulting and appraisals, including valuation expertise across all segments of the lodging industry, portfolio valuations, lodging supply-and-demand analyses, facility recommendations, feasibility studies, and expert testimony…
Webinar Interview for Social Media and the Appraiser: The Need-to-Know Tips
Appraisal Buzz
Social media has changed the landscape for every business, not just appraisal. When customers need a service, they do their own research. The reviews, your personality, the important information is now all available on one platform available to anyone that wants to look. Advertising on social media is a cost-effective way to promote your brand to people around you that normally wouldn’t see it. As an appraiser you have the advantage of being able to promote yourself to people near your geolocation who are looking to hire for an appraisal…
Week of November 10 - 16, 2020
Reno-Sparks apartment rent prices hit all-time high, here's why
KRNV (Reno, Nev.)
Sarah Fye [Practicing Affiliate], an appraiser with Johnson Perkins Griffin, says many families in the Reno-Sparks area are making that work…
Decluttering: The COVID-19 cleaning craze - by Laurie Nichols
New England Real Estate Journal
(This article was written by Laurie Mentz Nichols, SRA, AI-RRS.)
The advent of COVID-19 brought about stay-at-home orders, self-quarantine, and social distancing which altered how and where appraisers do their work. A home office is not a new concept for many appraisers, but those working in a corporate environment now found themselves carving out a niche in their home to work; and while working from home can be great – no daily commute, wearing casual clothes, and TV breaks – it also has its downside…
President’s message: Possible merge with the Maine chapter - by George Demopulos
New England Real Estate Journal
(This article was written by George Demopulos, SRA, AI-RRS.)
The Massachusetts and Rhode Island Chapter of the Appraisal Institute is hoping all of our friends and clients are continuing to stay safe during the COVID-19 pandemic…
Are appraisers essential? They must be! - by Shaun Fitzgerald
New England Real Estate Journal
Are appraisers essential? They must be; just about every appraiser I know is flat-out busy. When the pandemic started, many, many people stopped working altogether, were told to work from home, were furloughed or laid off. Not so for appraisers…
Appraising in difficult times – an update - by Robert Concannon
New England Real Estate Journal
(This article was written by Robert Concannon, MAI.)
A recent set of seminars provided by the NH/VT Appraisal Institute Chapter provided some insight into the state of commercial and residential markets in northern New England…
New England Real Estate Journal
(This article was written by Bill Pastuszek, MAI.)
Appraisers concentrate on the economic analysis of real property though the lenses of the four great external forces: Governmental, economic, social, and environmental. They consider the four characteristics that are required to establish value in real estate (and many other assets): Demand, utility, scarcity, and transferability…
Biden Admin and housing: Tax credits for first-time homebuyers, more
Bankrate
Biden also has called out discrimination in appraisals. To counteract low appraisals in minority neighborhoods, Biden says he’ll push for training to address racial bias among appraisers…
Election win renews focus on Biden's housing plan
Mortgage Professional America
In his housing plan, the president-elect has promised to eliminate local and state housing regulations that perpetuate discrimination and establish a national standard for housing appraisals that “ensures appraisers have adequate training, a full appreciation for neighborhoods, and do not hold implicit biases because of a lack of community understanding.”…
HVS Report - COVID-19’s Impact on Hotel Values
Hotel Resource, Hotel News Resource
Rod Clough, MAI, President - Americas, oversees strategy execution throughout 40 Americas locations. He recently brought together all US Valuation Consulting offices under common ownership, and has revolutionized the way the company is led and managed…
Week of November 3 - 9, 2020
BBG Appoints Paul E. Ping As Senior Managing Director
PR Newswire, CityBizList Houston, Investorpedia, Arizona Republic (Phoenix), Markets Insider
(This article was included in an additional 62 outlets.)
BBG, a leading national due diligence commercial real estate firm, today announced that it has appointed industry veteran Paul E. Ping, MAI, as Senior Managing Director who will be responsible for expanding BBG Evaluation…
Are You Listening to the Buzzcast?
Appraisal Buzz
The Appraisal Buzz podcast, the Buzzcast, has just shared their tenth episode! The Buzzcast was created for those appraisers that want to keep up to date with our content, but don’t necessarily have the time to sit down and read everything that’s posted. We host interviews with leaders and experts in the appraisal industry, including Joan Trice, Founder of Allterra Group, LLC, Jeff Sherman [MAI, AI-GRS] of Appraisal Institute, and so many more. Get your news on the drive to your next inspection and listen to the Buzzcast!...
Former Trump land-use lawyer ordered to give docs to N.Y. attorney general
Crain’s Chicago Business
A former land-use lawyer for Donald Trump’s company was ordered by a New York judge to hand over hundreds of documents to state officials investigating whether the president’s real-estate business falsely reported property values to get loans or tax benefits...
Incumbent Mike Twitty wins Pinellas property appraiser race
Tampa Bay Times, Florida Politics
Republican incumbent Mike Twitty [MAI] won Pinellas County property appraiser, according to unofficial results, with 59 percent of the vote. Democratic opponent Trevor Mallory had 41 percent of the vote…
Bunker mentality: Cold War-era fallout shelters are still a feature in some homes
The Washington Post
Dan said that when they had the house appraised, the appraiser was stumped. “I can’t really give a value to the bomb shelter,” the appraiser said, “but I can give you $4,000 for a wine cellar.”…
What Is Highest and Best Use in Real Estate?
Millions Acres
Appraisers are the real estate professionals who determine highest and best use for individual pieces of real estate. What they are evaluating, according to the Appraisal Institute, is:…
Redfin policy makes selling homes in minority neighborhoods more difficult, new lawsuit charges
Thehill.com
While Redfin isn’t directly connecting their services with race, the indirect result is that many communities of color, where property values are lower, are shut out of their listings…
Disparity in Home Values Grows Between Whites, Minorities
Realtor Magazine
The differences between home values in white neighborhoods and minority neighborhoods is larger than it was 40 years ago, according to a new study published by the Oxford University Press. The appraisal gap between these neighborhoods has doubled since 1980. The difference between the average home appraisal in neighborhoods that are predominantly white and those that are majority Black and Latinx was $164,000 in 2015, according to the study. In 1980, the difference was $86,000…
North Carolina Chapter of the Appraisal Institute (NCAI)
To learn more click the link below.
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