Industry News

Week of November 26 - December 2, 2019

 

IRS Cracking Down on Conservation Easements

Wealth Management.com

(This article was written by Robert E. Dietrich, MAI.)

(T)he Appraisal Institute offers a certification in conservation  easement valuation and it publishes a searchable database of valuation  specialists who have training in conservation properties…


Commercial Appraisal in Lafayette, LA Releases Updated Website

Digital journal

The company is known for its high level of commercial appraisal in Lafayette, LA, for lenders, property owners, and investors. John Glass is an MAI designated member of the Appraisal Institute, who is an approved appraiser with most local, regional, and national lenders, as well as nearly all state and federal jurisdictions…


The Home Where Robin Williams Took His Life Goes Up for Sale

Active Rain

“Typically, a suicide does not have an effect on property values in  California, because unfortunately, they’re relatively common,” says real  estate appraiser Randall Bell [MAI] of Landmark Research based in Dana Point, CA…


Gloria Claudet

Republic American (Waterbury, Conn.)

For more than three decades, Gloria Claudet  sold real estate at  Emile Rellstab Real Estate in New Rochelle, gaining a reputation for  professionalism and integrity that led to generations of families  entrusting their purchases and sales to her. In 1974,  she earned MAI status as a real estate appraiser, the highest standing available to an appraiser…


What are You Thankful For?

Appraisal Buzz

It’s that time of the year where we sit back and enjoy the company of  our family and friends while reflecting on the year that has passed. We  asked the appraisal community what they were thankful for, whether it was related to the profession or not. Here were some of our favorites:…


Gillooly returns to Integra Realty Resources’ Northern New Jersey office

NJ Biz (Somerset, N.J.)

Active in his [John Gillooly, Candidate for Designation]  professional industry and local community, Gillooly currently serves as  director of the New Jersey International Right of Way Association (IRWA)  Chapter 15 and is an active member and former  board member at the Metro New Jersey Chapter of the Appraisal Institute… 

 

Voice of the Appraiser survey winners announced

Valuation Review

(This article also mentions Amy Frink, Candidate for Designation and Russell Wakefield, Practicing Affiliate.)

Congratulations to our six-month digital subscription winners! Bradley Beaman [Practicing Affiliate], Eagle One Appraisal…


TAF announces 2020 board appointments

Valuation Review 

The Appraisal Foundation (TAF) revealed its 2020 appointments to the organization’s two independent boards, the Appraisal Standards Board (ASB) and Appraiser  Qualifications Board (AQB), according to a TAF press release. Appointees  include individuals from the real estate and personal property appraising professions…


Week of November 19 - 25, 2019

 

Homeowner perceptions about 0.5 percent lower than appraisals

The Day (New London, Conn.)

The average appraisal fell 0.45 percent below a homeowner's  estimate, down from 0.49 percent in September and the third straight  month where estimates grew closer to appraisals. However, it increased from a gap of 0.28 percent in October 2018…


Why credit unions need a higher appraisal threshold for mortgages

Credit Union Journal 

This means that a far larger number of properties now exceed the residential appraisal threshold. As a result, this unnecessary regulatory burden increases  costs for lenders and borrowers, while adding delays to real estate  transactions…


NKF Valuation & Advisory Practice Adds Scott Schafer to Executive Leadership

Citybizlist

Global commercial real estate advisory firm Newmark Knight Frank (NKF) is pleased to announce that Scott Schafer, MAI, MRICS, has joined the firm's Valuation  & Advisory (V&A) practice as part of its executive leadership  team. NKF V&A provides access to a complete range of valuation and  consulting services across its international platform.  Schafer joins the firm in its Buffalo, New York office as Executive  Managing Director and Head of Strategy…

 

HVS 2019 U.S. Hotel Franchise Fee Guide

Hotel News  Resource, Hospitality Trends 

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…


Home formerly owned by Robin Williams goes up for sale

Realtor.com, San Antonio (Texas) Express News, New Haven (Conn.) Register Online, Houston Chronicle, Stamford (N.Y.) Advocate

(This article was included in an additional 10 outlets.)

"Typically, a suicide does not have an effect on property values in  California, because unfortunately, they're relatively common," says real  estate appraiser Randall Bell [MAI] of Landmark Research based in Dana  Point, CA. He assesses properties where tragedies have occurred, such as  the Heaven's Gate mass suicide site, JonBenét Ramsay's house, and the  home of Adam Lanza, the Sandy Hook Elementary  School shooter. "But Robin Williams' property is not typical."…


BPPJ contributes to study on RR navigation, possible new lock and dam

KTBS-TV Online

Okayed proposal of Robert L. Russell, MAI, for appraisal review services for Linton Road bridge over Black Bayou Reservoir project…


Don't Wait to Winterize Your Home, Appraisal Institute Advises

Yahoo! Finance, MarketWatch, Finanzen, Spoke, PR Newswire

(This article was included in an additional 104 outlets.) 

"With autumn coming to a close, now is a great time for homeowners to  make improvements that likely will have a return on investment in the  winter and throughout the year," said Appraisal Institute President Stephen S. Wagner MAI, SRA, AI-GRS…


A Deeper Dive on Investment Sales Bright Spots

Commercial Observer

It is important to mention that the genesis of this article was based on a speech I was giving to a joint meeting of the Appraisal Institute and the Mortgage Bankers Association a couple  of weeks ago, halfway through which I was wondering why I’ve been  giving such negative speeches for so long…


Commercial Appraisal In Lafayette, LA Releases Updated Website

WICZ-TV Online, KAKE-TV Online, KQCW-TV Online, RFD-TV Online, KLCW-TV Online

The company is known for its high level of commercial appraisal in Lafayette, LA, for lenders, property owners, and investors. John Glass is an MAI designated member who is an approved appraiser with most local, regional, and national lenders, as well as nearly all state and federal jurisdictions…

 

Black Box Ethics

Appraisal Buzz

There is tremendous pressure on the valuation side of the mortgage  process to digitize, hence all of the discussion around finding  alternative work forces to supplant appraisers. Or better yet, use an algorithm for an “easy button” appraisal.  I, for one, love the fact that Google knows what I want. It’s a trade-  off. Do I believe they live by their mission of “do no evil?” Not for a  minute…


Inflation Remains Low – Market Update

Quicken Loans

Taking a look at regional data, homeowners in the West overvalued their homes by just 0.39% compared with appraiser opinion. The difference is 0.4% in the Northeast. The  South and Midwest brought up the rear, with properties overvalued by  0.47% and 0.52%, respectively…


Week Ahead: NCUA board meetings and a battle to fund the government

Credit Union Journal 

The NCUA Board will consider issuing a proposed rule regarding real estate appraisals. The Leagues expect the proposal will address increasing the threshold level below which appraisals would not be required for credit unions’ residential real estate transactions…


Week of November 12 - 18, 2019

 

Appraisal Institute Debuts Solar PV Valuation Seminars

National Mortgage Professional Magazine 

The Appraisal Institute has introduced a four-hour classroom  seminar on developing the value of solar photovoltaic (PV) systems. The  seminar, titled “Valuation Resources for Solar Photovoltaic Systems,”  observes there are more that 1.5 million households  with solar energy systems, which is close to a two percent residential  adoption rate…


Appraisal Institute Premieres Solar Photovoltaic Seminar

Real Estate Rama

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, premiered a four-hour classroom seminar on developing the value of solar photovoltaic systems today in Chicago…


On the market: Taking the in-law suite to a new level in Moorestown

The Philadelphia Inquirer

Harry [Carroll] Jr. [MAI, SRA], a real estate appraiser,  noted that with land prices so high in Moorestown, building on the same  one-acre property made more sense for the younger family than buying  elsewhere…

 

Obituaries – 11.13.19

Henry County Times (McDonough, Ga.)

William Ted Anglyn [MAI] is an honorary member at multiple Appraisal Institute Chapters nationwide and was instrumental in growing membership and education programs within the Appraisal Institute. Ted leaves behind a prodigious legacy throughout the appraisal world…


Homeowners And Appraisers Are Closer To Agreement On Home Values

Quicken Loans

Homeowners and appraisers came closer to agreement on home values in the month of October. Appraisals were just 0.45% below homeowner expectations last month…


AI Upstate Chapter USPAP Update- Dec. 2

New York Real Estate Journal 

The Upstate New York Chapter of the Appraisal Institute has had an active education calendar for real estate appraisers. The Appraisal Institute (AI) is recognized as the leader in the real estate appraisal industry and is one of the oldest organizations of real estate appraisers in the world…


Accurate Measurements with Odd Angles

Appraisal Buzz

We, as appraisers, have probably all used a tape measure in our  day, whether it be a typical tape measure or an open reel tape measure.  There may be a significant portion of us that have moved on from those  tools and started to use a laser measuring  device such as a Bosch or Disto…


Tips for Appraiser Trainees

Appraisal Buzz

The main hurdle to becoming a Real Estate Appraiser is finding an  apprenticeship with a qualified mentor. The belief is that entry is  dependent on who you know. Although this can be true, many trainees gain  an apprenticeship without any prior relationship  to a mentor. In full disclosure, my mentor is my spouse. Although I  easily obtained an apprenticeship, my success was solely dependent on  what I knew…


The US Real Estate Appraisal Market Business Status and Outlook 2019 to 2023

The Market Publicist 

The US Real Estate Appraisal market has been on a declining trend since 2014; due to increased regulations in the industry, as a result of which several appraisers switch to other fields of work within a span of five years…


Ray C. Donathan

The Sentinel-Record (Hot Springs, Ark.)

He [Ray Clifton Donathan, SRPA, SRA] was president of the Arkansas Chapter of the Appraisal Institute, director of Hot Springs Board of Realtors,  and served on many area boards and committees, such as Habitat for  Humanity, Red Cross, United Way and others. In 1982, he was awarded the  Outstanding Community Service Award…


Week of November 5 - 11, 2019


 Residents fear development will displace them

U.S. News & World Report, The Middletown Press (New Haven, Conn.), SFGate, Washington Times, Houston Chronicle

A large portion of River Park homes have remained the same for years,  but that could all change with interest from developers and new  residents. The demolition or remodeling of many of these homes is  "likely" in upcoming years, according to Cindy Carroll [SRA], a Naples real estate appraiser…


McKissock Learning Announces the Launch of New Real Estate Appraiser Exam Prep Programs

Business Wire, Yahoo! Finance, Pittsburgh post-Gazette, Houston Chronicle

McKissock Learning, the leading national provider of online education for real estate appraisers, today announced the launch of two new real estate appraiser exam prep programs. Exam Prep for Licensed Residential Appraisers and Exam Prep for Certified Residential Appraisers are exam simulation programs that prepare residential appraiser candidates to pass the National Uniform Licensing and Certification Examination on the first attempt…


Appraisal Industry Veteran Michael  Welch Returns to Integra Realty

Commercial Property Executive 

A few months after appointing a new CEO, Integra Realty Resources has welcomed back Michael Welch [Practicing Affiliate] as Managing Director of the company’s Houston office. Together with Senior Managing Directors Todd Rotholz [MAI] and Edward Schulz [MAI, SRA], he will expand the firm’s consulting and litigation services…


Mass/RI Chapter of Appraisal Institute and MBREA hosted the New England Appraisers Expo on October 21st

New England Real Estate Journal

The Mass/RI Chapter of Appraisal Institute and MBREA hosted the New England Appraisers Expo on October 21st at the Four Points by Sheraton Norwood, 125 Boston-Providence Turnpike. Below are photos from the event…


OMS petition comes to fruition on Nov. 5 ballot

Pilot Tribune (Storm Lake, Iowa) 

Jim Verschoor [MAI], commercial appraiser with Tri-State Valuation and Consulting of Sioux City, prepared a Jan. 31, 2018, appraisal for the district and said large differences between appraised values and assessed values are common with school buildings…


Have Investment Sales Finally Fallen Off a Cliff?

Commercial Observer

“[The refinancing] market is going to be very robust,” he said. “Until banks and appraisers start viewing the value of these buildings the way investors are, it’s going to be very robust, because rates are low.”…


Appraisal Institute Seeks Speakers  for 2020 Annual Conference

RealEstateRama, PressReleasePoint

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, is accepting proposals for presentations at its 2020  Annual Conference, Aug. 3-5, at the JW Marriott in Orlando, Florida. The  deadline is 5 p.m. CST Nov. 25…


McKissock Learning Announces the Launch of a New Luxury Home Appraiser Certification

Business Wire, Yahoo! Finance

“From millennial millionaires to traditional high-end home buyers, the  luxury home market requires a different approach, including how to appraise the properties,” said Ashleigh Wallach, General Manager of Appraisal Education at McKissock Learning and a Certified General Appraiser in Missouri. “…


Valuation Innovation: Preparing Yourself for the Future

Appraisal Buzz

I worked as an Administrator in an appraisal office when I was in high school and started my appraisal apprenticeship when I was 19. Later on, I opened my own  shop and was also a REALTOR® for several years. In 2010, I was  recruited by Fannie Mae as a Post-acquisition Appraisal Reviewer and moved into the collateral policy space in 2016…


Governor Cooper Announces Appointments to State Boards and Commissions

Publicnow

(This article also mentions Lynn Carmichael, MAI, AI-GRS.)

Claire M. Aufrance [MAI, SRA] of Greensboro as a real estate appraiser. Aufrance is an appraiser at Aufrance Valuations, LLC. Aufrance serves on the Appraisal Institute Board of Directors as vice chair,  representing region five. She is also a member of the Commercial Real  Estate Women (CREW) and the Greensboro Regional Realtors Association…


Week of October 29 - November 4, 2019

 

Real Estate Abbreviations and Acronyms

Motley Fool LLC

MAI: Member of the Appraisal Institute…


Fun with Fannie, Freddie, and Friends

Appraisal Buzz

The community has been disturbed recently by new developments. Yes,  change is coming. Yes, change is near. No, no one really knows how this  is going to go. Each stakeholder sees things through different eyes – Appraisers, banks, Appraisal Management Companies (AMCs),  underwriters, risk analysts, and the public. Yet, what is really  apparent, is that these GSEs are experiencing a new disturbance of their  own…


Here’s who’s running in Tavares

Daily Commercial (Leesburg, Fla.)

I [Walter Price, MAI, SRA] am a proven leader, having served as President of the Central Florida Chapter of the Appraisal Institute overseeing 250 appraisers, and currently serve as Chairman of the Republican Party of Lake County…


Iconic St. Pete motel sells for 11 times what it did in the ‘80s

Tampa Bay (Fla.) Times

The price was among the top paid for property along Fourth Street N and  reflects its status as one of Tampa Bay’s prime shopping and dining  streets. "As far as a retail corridor, that’s basically as good as it  gets for us,'' said Pinellas County Property Appraiser Mike Twitty [MAI]…


Crane: Misidentification represents my Scottsdale property inaccurately

Scottsdale (Ariz.) Independent 

(This article was written by Carter Crane, SRA.) 

My name is Carter CRANE, not “Crane CARTER.” I am the trustee of a trust  that owns the property on Winfield Scott Plaza for which a third-party  prospective purchaser, Sunday Goods, now seeks to rezone for its future  possible use as a medical marijuana facility  after the closing of its purchase…


The Wonderful World of Selling Your Haunted House

Atlas Obscura

Real estate law is, with a few exceptions, dependent on state rather  than federal statutes. (Those exceptions include disclosures for stuff  like asbestos and lead paint.) States have wildly different requirements  for what’s called disclosure, or what a buyer  has a right to know about a house before the purchase is complete.  “About half the states are disclosure states, and half are called caveat  emptor,” says Randall Bell [MAI]..

 

California's Wildfires Put Tens of Thousands of Homes at Risk Amid a  Housing Shortage

Realtor.com

Any homes that are damaged or destroyed by the fires will obviously lose  significant value. But residences that survive the disasters unscathed  in badly hit areas often sell for discounts of 10% to 25% for a few  years, says real estate appraiser Orell Anderson [MAI] of Strategic Property Analytics…


City Council votes to introduce ordinance for Northwestern  to host professional events

The Daily Northwestern (Evanston, Ill.)

Residents within U2 zoning districts have voiced their concern with the  plans, with more than 700 members signing a petition to vote down the  amendment. During the meeting, Evanston residents also had two experts  speak on their behalf to give a presentation:  economic consultant Tim Guidmond and Appraisal Institute member Howard Richter [MAI, AI-GRS]…

 

Trade group: Raising appraisal threshold could benefit CUNA members

Valuation Review

“While the recent changes to the NCUA’s appraisal regulations  have been helpful, we ask the agency to pursue additional changes to  decrease unnecessary regulatory burden on credit unions and their  members,” the letter reads…


FHA announces more training sessions

Valuation Review

The Federal Housing Administration (FHA) will conduct free appraisal training sessions in Denver on Nov. 6 and in Atlanta on Nov. 13. These sessions are targeted primarily to appraisers and underwriters; however, other industry  professionals including processors, mortgage loan professionals, loan  officers and property inspectors may also benefit from attending, the  FHA announced…


Week of October 22 - 28, 2019

 

Appeal planned after historic mansion demolition denied in Naperville

Daily Herald (Arlington Heights, Ill.)

Selling the roughly 4 acres along Wright Street, with its current zoning  for residential use, could bring in enough return to help make a move  economically feasible, Briggs said. Appraiser Philip J. Butler [MAI], hired by Little Friends, valued the property at $5.5 million…


Appraisers Provide a Wide Variety of Services, Appraisal Institute Says

PR Newswire, Investor Point, The Oklahoman (Oklahoma City), Arizona Republic (Phoenix), Morningstar

(This article was included in nearly an additional 80 outlets.)

Hiring a Designated Member of the Appraisal Institute can provide  a broad range of benefits to commercial and residential clients, the  president of the nation's largest professional association of real  estate appraisers said today… "When hiring a valuation  professional, clients should first understand the role of an appraiser," said Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS…

 

New homes are on the rise in Bakersfield real estate market

National Mortgage News 

In September, only 918 resale homes in Bakersfield were listed for sale,  down by more than a fifth from a year before, when inventory was  already relatively tight, according to numbers provided by local appraiser Gary Crabtree [SRA]…


Appraising Appraisers and The Appraisal Process

Builder 

“Appraisers begin as trainees,” says Stephen S. Wagner [MAI, SRA, AI-GRS], president of the Appraisal Institute, which is  based in Chicago. “After compiling a certain amount of experience hours,  which varies by type of practice, and completing a required amount of  valuation-related education, trainees may pursue  a license from a state regulatory body.”…


How to Retire: A Guide for Real Estate Appraisers

Appraisal Buzz

At what age will you be able to retire? Could you retire right now? Should you? How can you know? If you are an independent appraiser, these can be particularly hard questions to answer,  since you may be mostly or entirely responsible for setting up your  retirement plan. Here are some insightful tips on how to retire, geared  specifically toward real estate appraisers…


Would You Buy Serial Killer John Wayne Gacy's Property?

TimesUnion (Albany N.Y.)

Although the original house has been demolished, the crimes are still so  memorable, even more than 40 years later, that the house is likely to  sell at a discount of 10% or more, in the opinion of real estate appraiser Orell Anderson [MAI]. He's the president of Strategic Property Analytics in Laguna Beach, CA…


What to Expect When You Go to Court

Appraisal Buzz

You, the appraiser, could be cross-examined in the future. Here  is what to expect when you go to court as the expert. To begin, it will  not be an easy or pleasant experience. An appraiser must personally verify the information and personally inspect and photograph every comparable…

 

NCREIF announces agricultural appraisal guidelines

Valuation Review

The newly issued Agricultural Appraisal Guidelines from the  National Council of Real Estate Investment Fiduciaries (NCREIF)  represent the first set of comprehensive industry guidelines developed  to meet the demanding reporting needs of institutional  investors, the Appraisal Institute (AI) reported on its website…


Week of October 15 - 21, 2019

 

Appraisal Availability

American Bankers Association

Banks are currently facing unique challenges in light of appraiser shortages in many regions of the country, but more specifically in  small urban and rural areas for real estate transactions. Our members  report there is a limited number of qualified appraisers willing to accept assignments in many of their markets – even when the bank is willing to pay a premium for the assignment…


Home value perceptions improve in September

The Day

There was little difference in value perception among the different regions in the United States. The average appraisal was 0.45 percent less than expected in the West, 0.5  percent lower in the Northeast, and 0.51 percent lower in the Midwest  and South…


Maine Chapter of the Appraisal Institute Update

New England Real Estate Journal 

(This article was written by Donald MacKay, MAI.)

A goal for the Maine Chapter of Appraisal Institute has been to improve the number and quality of our educational offerings, with an eye to attracting appraisers from other regions to our courses. With the bank  thresholds increasing, technological changes, and various market and  regulatory changes, there are many hot topics that are concerning to appraisers…


Appraisal of a property with excess land can be challenging

New England Real Estate Journal 

(This article was written by Steven Spangle, SRA.)

The appraisal of a property with excess land can be challenging.  Excess land is land that is not needed to serve or support the existing  use. The highest and best use of the excess land may or may not be the  same as the highest and best use of the improved  parcel. Excess land has the potential to be sold separately…


NH/VT chapter of Appraisal Institute president’s message

New England Real Estate Journal 

(This article was written by Robert Concannon, MAI.)

I am honored to serve as your 2019 president of the NH/VT chapter of the Appraisal Institute. I look forward to keeping our chapter fiscally and operationally strong as the appraisal profession moves forward in these vastly changing times. The Appraisal Institute is a global membership association of professional real estate appraisers with a membership of over 26,000 members and almost 80 chapters…


State regulators don’t second-guess low-ball appraisals

Los Angeles Daily News

It’s an opinion of value that can make a break a deal. That’s what real  estate appraisers produce. Yet, once that opinion is delivered, and if  it is not what stakeholders (buyers, sellers, Realtors and mortgage loan  originators) need or expect, angst, second-guessing  and accusations of appraiser incompetency sometimes follow…


BPPJ partners with WK on future Palmetto hospital  project

KPVI-TV Online

Accepted proposal of David W. Volentine, MAI, for appraisal services for necessary parcels, tracts, properties or servitudes  required for Linton Road bridge over Black Bayou Reservoir project…

 

BBG Acquires New Jersey-Based Izenberg Appraisal Associates

PR Newswire, TickerTech.com, Markets Insider, Pittsburgh Post-Gazette, Benzinga

(This article was included in 55 additional outlets.)

(This article also mentions Louis S. Izenberg, MAI.)

BBG appointed Louis Yorey, MAI, MRICS, as Senior Managing  Director of the New Jersey office. Mr. Yorey will also remain as the  National Practice Leader of BBG's Advisory Services…


Occupational Licensing Hurting West Virginia’s Economy

Forbes

Some of West Virginia’s high-barrier occupations include barbers, massage therapists, nail technicians, and certified general appraisers of property. To become a certified appraiser, West Virginia requires two exams while Ohio and Pennsylvania only require one…


The US Real Estate Appraisal Market (2019-2023) - Industry Experiencing Increased Regulation

PR Newswire, Markets Insider, TickerTech.com, Pittsburgh Post-Gazette, Business Wire

(This article was included in 34 additional outlets.)

The US Real Estate Appraisal market has been on a declining trend since 2014; due to increased regulations in the industry, as a result of which several appraisers switch to other fields of work within a span of five years…


Cannabis Media Site Leafly Alerts Users Of Leaked Data Stored On Exposed Database

Times of CBD

Arina has a Master’s degree in Business and lives in Sydney, Australia  and is one of our top contributors as a postgraduate qualified writer.  While being a Member Of The Appraisal Institute, she focuses her writing efforts on health, home, business, technology and now cannabis/cbd here…

 

OCC reminds AMCs about registration requirements

Valuation Review

The Office of the Comptroller of the Currency (OCC) issued a bulletin to remind banks of the new registration requirement for appraisal management companies (AMC) that became effective Aug. 10, 2019…

North Carolina Chapter of the Appraisal Institute (NCAI)

To learn more click the link below.