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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”      


Session Law 2020-4 - House Bill 1043 - An act to provide aid to North Carolinians in response to the Coronavirus Disease 2019 (COVID-19) Crisis


 Session Law 2020-3 - Senate Bill 704 - An act to provide aid to North Carolinians in response to the Coronavirus Disease 2019 (COVID-19) Crisis 

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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…


Global Hemp Group Signs Binding Agreement to Acquire Control  over Strategic Water Infrastructure Assets in Colorado

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…


BHHS New England/Westchester/New York Properties Promotes Meryl Freedman  and Gregg Wagner to SVP Roles

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…


40 Under 40: Chris Vail

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

 

The Notes: Dec. 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…


The Appraisal Foundation and Appraisal Institute Announce Joint Valuation Symposium on Public Trust, Fair and Affordable Housing

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

 

Milhaus Appoints New COO

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…


Illinois Bill Introduced to Include Prohibitions Against Discrimination  in Appraiser and Real Estate Licensing Acts

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…


HVS Report - Third-Quarter Brand Performance Update: Summer Helps Industry Gain from Q2 Shutdown Lows

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…


The Appraisal Foundation and Appraisal Institute Announce Joint Valuation Symposium on Public Trust, Fair and Affordable Housing

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.”…

 

The Appraisal Foundation and Appraisal Institute Announce Joint Valuation Symposium on Public Trust, Fair and Affordable Housing

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…


The COVID world has reshaped how work is done and how the workspaces are now viewed - by Bill Pastuszek

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)

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