Week of January 7 - 13, 2020
Appraisal Creep – An Interview with John Wake
Appraisal Buzz
The study looked at houses where two appraisals were done, one after they were foreclosed on and Fannie took ownership, and a second appraisal when they were under contract. Both appraisals were done within 6 months of each other and no repairs were made to the houses in the meantime…
Appraisal veterans join forces to create Moody Williams Appraisal Group
Jax Daily Record (Jacksonville, Fla.)
Five years after starting Moody Appraisal Group, Ron Moody [MAI, SRA] and Mark Williams have created a “one-stop shop” for real estate appraisals. As of Jan. 1, Moody Appraisal Group became Moody Williams Appraisal Group. The purpose is to provide the full spectrum of real estate appraisal services…
Redevelopment agency moves on Depot Center
The Morgan Hill (Calif.) Times
City staff said the total price is supported by an appraisal completed in May 2009 by a Member of the Appraisal Institute. The MAI website says its appraisers are recognized by courts, government agencies and financial institutions for their high qualifications, and Heindel added that most residential appraisers are not normally MAI-certified…
HVS Report - 2020 United States Hotel Industry Outlook
Hotel News Resource, Hospitality Trends, 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. Rod has been working in the hospitality industry for 30 years and is a graduate of Cornell's School of Hotel Administration. He is a Designated Member of the Appraisal Institute (MAI) and a state-certified general appraiser…
FHA announces training session
Valuation Review
The Federal Housing Administration (FHA) will conduct a free appraisal training session in Denver on Feb. 12 inside the Department of Housing and Urban Development’s Dakota Room, 1670 Broadway (23rd floor) from 8:30 a.m. to 4:30 p.m. MT. This session is targeted primarily to appraisers; however, other industry professionals may also benefit from attending, the FHA announced…
Market Screener
(This article also mentions Peter Helland, MAI, AI-GRS and Keith Stewart, MAI.)
Edward V. Kling, MAI, MRICS joins NKF V&A as a senior vice president. He brings 30 years of appraisal experience and specializes in commercial real estate appraisals and appraisal reviews for property tax assessment appeals and other forms of litigation. He is highly experienced in complex appeals requiring expert witness testimony…
Week of December 31, 2019 - January 6, 2020
The Post and Courier (Charleston, S.C.)
Jody Bishop, MAI, SRA, AI-GRS, of Mount Pleasant, will begin his one-year term as vice president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with nearly 18,000 professionals in almost 50 countries…
Ready for Tax Reform Package 3?
Inquirer.net
There are as many definitions as there are numerous international associations determining the standards for property valuation. The Appraisal Institute, the Royal Institute of Chartered Surveyors and the European Group of Valuers’ Association only implicitly define market value as the estimated amount of money for which a property is to be sold or purchased as of appraisal date, and that most reflects the highest and best use of the real estate property…
Opportunities Abound for Appraisers in 2020
Appraisal Buzz
Appraisal experts generally foresee a strong 2020 for the appraisal industry. The profession continues to evolve, and so does demand for different types of appraisal. Demand in general remains high, and an appraiser who anticipates trends—and gets out in front of them—can expect to prosper in the long run…
National Statistics and Trends Can Augment Local Multifamily Appraisals: The Appraisal Journal
Real Estate Rama, PressReleasePoint
Opinions of value can recognize both local and national indicators when appraisers value multifamily rental properties, according to an article published this week in The Appraisal Journal…
Top 10 Long Island business stories of the decade
Newsday (Long Island, N.Y.)
“The interest rates going down have helped tremendously,” said Paul Dyckes [MAI, SRA], a Huntington-based real estate appraiser. “Affordability has increased in that respect.”…
Week of December 24-30, 2019
Appraisal Buzz
Just to torture myself, I recently rewatched a few documentaries on the Mortgage Crisis. When the Treasury Secretary says, “we really didn’t see this coming,” you are left scratching your head. Ask any “boots on the ground appraiser” during that timeframe and they surely knew. Which leads me to today. Any appraisal modernization effort must first begin with asking the appraiser the right set of questions…
Missing the Green can Leave Everyone Seeing Red
Appraisal Buzz
(This article was written by Woody Fincham, SRA, AI-RRS.)
The Lender shall choose an Appraiser educated and knowledgeable in this type of valuation of these specialized Homes, preferably an appraiser who holds a professional appraisal designation that requires advanced education on such issues as the valuation of sustainable buildings (e.g. MAI or SRA designations from the Appraisal Institute)…
Mount Pleasant’s Jody Bishop to serve as Appraisal Institute vice president
Moultrie (S.C.) News
Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant will begin his one-year term as vice president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with nearly 18,000 professionals in almost 50 countries…
Week of December 17 - 23, 2019
Mount Pleasant’s Jody Bishop to serve as Appraisal Institute vice president
Moultrie News (Charleston, S.C.)
Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant will begin his one-year term as vice president of the Appraisal Institute on Jan. 1…
Get the Facts: Valuation 20/20
Appraisal Buzz
Rural Area Appraisals: Freddie Mac Guidelines and Property Eligibility Requirements presented by the Appraisal Institute…
Commercial Appraiser in Lafayette, LA Publishes Recent Customer Testimonials
Digital Journal, Benzinga, Press- Enterprise, Daily Herald (Arlington Heights, Ill.), WLNE- TV (New Bedford, Mass.)
(This article was included in an additional 33 outlets)
(This article also mentions John Glass, MAI.)
The published testimonial by Kathy Edmundson, MAI, VP-Senior Commercial Review Appraiser at Hancock Bank, stated, “John Glass has done appraisal work for Hancock Bank/Whitney Bank for over a year. He has consistently provided high-quality appraisal work. His reports are detailed and thorough, his analysis is logical, and the value opinions always well supported. He has worked on a wide variety of property types for us, both simple and multi-million dollar projects.”…
Jefferson Sherman to Become Appraisal Institute President
National Mortgage Professional Magazine, Press Release Point, Real Estate Rama
The Appraisal Institute has announced Jefferson L. Sherman [MAI, AI-GRS] will begin a one-year term as president beginning on New Year’s Day. The Appraisal Institute has announced Jefferson L. Sherman will begin a one-year term as president beginning on New Year’s DaySherman is principal of Sherman Valuation & Review LLC, in Willoughby Hills, Ohio…
PR Newswire, Markets Insider, Arizona Republic, Pittsburgh Post-Gazette, The Buffalo (N.Y.) News
(This article appeared in an additional 60 outlets.)
"DataMaster is excited to partner with FMLS, one of the industry's largest and most innovative MLSs in the nation. Our new DataMaster platform is the most sophisticated and powerful data management tool ever created for appraisers," says Rick Lifferth [MAI, SRA] President/CEO of Market Data Services, the creators of DataMaster. "DataMaster will save Georgia appraisers hours on each appraisal report. The new CompTracker feature allows appraisers to reuse their own data and share data with trusted peers in a USPAP-compliant way."…
The News Journal (Whitley County, Ky.)
George K. Cox, Sr., 81, of Owensboro, Kentucky, died Monday, December 16, 2019… He held an MAI designation from the Appraisal Institute and was a member of the task force that established the Kentucky Real Estate Appraisers Board…
BBG Posts Robust Growth In 2019
PR Newswire, Markets Insider, Pittsburgh Post-Gazette, TickerTech.com, Yahoo! Finance
(This article was included in an additional 61 outlets.)
BBG CEO Chris Roach [MAI] commented on the firm's stellar growth: "Our aggressive growth strategy produced highly successful outcomes that allowed BBG to retain its leadership role in 2019. The firm's growth also was buoyed by favorable market conditions including a robust U.S. economy, low interest rates, and continued strong investor demand for commercial real estate properties. In the year ahead, we plan to continue offering the high-value services that our clients seek for their complex and diverse needs."…
Solar Energy Systems Can Increase Home Values: The Appraisal Journal
The Green Living Guy
The Appraisal Journal is the quarterly technical and academic publication of the Appraisal Institute. It’s the nation’s largest professional association of real estate appraisers…
Judge hears continued disputes over Holmes Beach rental regs
The Islander (Holmes Beach, Fla.)
Additionally, Daigneault said plaintiffs’ appraisals for the properties, performed by property appraiser Richard Bass [MAI] of Bass Fletcher & Associates Inc. of Sarasota, were not completed to industry standards and the best-use analysis was incorrectly conducted…
Week of December 10 - 16, 2019
Just Sold: Investor pays $9.2 million for Rochester retail center
Finance & Commerce (Minneapolis)
After decades investing in industrial and retail real estate around the state, Bloomington-based appraiser Robert Lunieski [MAI] has made his first acquisition in Rochester…
Fewer Appraisals Mandated, But They’re Still a Good Idea
Uexpress (Kansas City, Mo.)
After all, if the appraisal comes in below the agreed-upon price, you can back out of the deal or ask the seller to lower the price. But without an appraisal, you’ll never know whether you paid too much -- or, on the other hand, whether you nailed the deal of a lifetime…
Craziest things that kill your home's value
MSN News
Landscaping has the potential to increase home value, according to the Appraisal Institute. But if you’ve let your home’s lawn go, now is the time to roll up your sleeves and bring out the gardening tools…
Real Estate Weekly
Integra Realty Resources (IRR), a commercial real estate valuation and consulting firm, has announced John Gillooly, MRICS, SCGREA, CTA has rejoined the company as Director of its IRR… Active in his professional industry and local community, Gillooly currently… is an active member and former board member at the Metro New Jersey Chapter of the Appraisal Institute…
Politico
Opponents of the bill argue it would retroactively tax investors and instead believe mandating appraisal standards would help settle the matter. The Appraisal Institute, the American Society of Appraisers and the American Society of Farm Managers and Rural Appraisers are among the groups on the letter…
Harris Collins and Theresa Gaffney join hospital board
Milton (Mass.) Times
Harris Collins [MAI] is an executive vice president in valuation and advisory at CBRE… Collins is a Massachusetts, New Hampshire, Rhode Island and Maine certified appraiser and a member of the Appraisal Institute and the Counselors of Real Estate…
Week of December 3 - 9, 2019
Appraisers differ on Hodges property value
Watauga Democrat (Boone, N.C.)
John Henning of Campbell Shatley PLLC, the firm representing the school board, requested a review of the same appraisal be conducted by Scott Robinson [MAI, SRA, AI-GRS]. Robinson, who served as president of the Appraisal Institute in 2016, conducted his review on Oct. 8…
San Diego State's stadium effort gets $15-million donation
ABC 10 (San Diego)
The land was appraised at $68.2 million by David Davis [MAI], a certified appraiser hired jointly by the city and SDSU. The university original offered the city $68.2 million, but revised its offer after taking into consideration comments by the City Council…
Stan Sidor is 5th CRE Designee at Kidder Mathews Valuation Advisory Group
BLAU Journal
Stan Sidor [MAI, AI-GRS], a senior vice president and manager for Kidder Mathews Valuation Advisory Services and a shareholder in the firm, has been awarded the prestigious CRE designation by The Counselors of Real Estate… Sidor has 27 years of experience as a professional commercial real estate appraiser. In addition to the CRE designation, he has earned the MAI designation and the AI-GRS designation from the Appraisal Institute. He is also the 2020 president of the Appraisal Institute…
HVS Report - Equity Yield Rates on the Decline - By Katy Black and Rodney G. Clough
Hospitality Trends, Hotel Resource, Hotel News Resource
(This article was written by Rod Cough, MAI.)
HVS continually tracks the rates of return on the assets on which we consult. In our most recent review, we found that equity yield rates, on average, have shown a continued trend of decline in the full-service and luxury hotels sector, as well as the lower-tier limited-service sector, with the select-service and upscale limited-service sector showing stability...
Investorpoint, Arizona Republic (Phoenix), Buffalo (N.Y.) News Online, Chronicle-Journal (Louisville, Ky.), Pittsburgh Post-Gazette
(This article was included in an additional 69 outlets.)
Dr. Gale Pooley is an associate professor of business management at Brigham Young University-Hawaii. He also has taught at Alfaisal University in Riyadh, Saudi Arabia and Boise State University. Dr. Pooley holds professional designation from the Appraisal Institute, the Royal Institute of Chartered Surveyors and the CCIM Institute…
What You Should Know About Home Appraisals
The Entrepreneur Fund
Because the appraisal primarily protects the lender’s pursuits, the lender will normally order the appraisal. According to the Appraisal Institute, an affiliation actual property appraisers, a certified appraiser needs to be licensed or licensed—as required in all 50 states—and be aware of the native space…
CityBIzList
Newmark Knight Frank (NKF) has announced its continued expansion throughout the Minnesota and Wisconsin markets with the addition of six talented Valuation & Advisory (V&A) professionals. Recent additions to the Minneapolis, Minnesota office include Senior Vice Presidents Sean Butts, MAI, John Kubes, MAI, AI-GRS; Senior Appraiser Sierra Hamilton [AI-GRS] and Senior Analyst Ryan Palmer. In the Milwaukee, Wisconsin office, Colleen Krueger joins as first vice president and Matthew Andersen joins as an analyst…
Former Longtime New Rochelle Realtor, Gloria Claudet, 95, With Family In Fairfield County
Westport (Conn.) Weston, White Plains (N.Y.) Daily Voice,
Gloria Claudet, 95, known to her friends as "Glo," died on Nov. 24 at her home in Southbury, surrounded by her family. She was the beloved wife of the late Henri Claudet… In 1974, she earned MAI status as a real estate appraiser, the highest standing available to an appraiser…
Supreme Court says interest was miscalculated in DOH case
West Virginia Record (Hurricane, W.Va.)
An expert appraiser, Russell Rice [Candidate for Designation], testified at the trial that the Pifers suffered $35,000 in damages each year based on reasonable market rental values…
In the Trenches… Appraiser Stories
Appraisal Buzz
Several years ago, I was contacted by a woman that was going through a divorce and needed an appraisal for separation of marital property. I set the appointment to inspect the house and when I arrived to do my inspection for the appraisal, everyone was home – the kids and even the soon to be ex-husband…
Ipswich Local News (Ipswich, Mass.)
He [Scott David Hamilton] had several careers; first as a meteorologist, then as a residential and commercial real estate appraiser as president of Hamilton Appraisal Services. He held the MAI designation from The Appraisal Institute…
Appraisal Buzz
(This article was written by Paul Chandler, MAI, Candidate for Designation.)
It certainly feels like the wheels are falling off the institutional mortgage market push to use AVMs to replace appraisers for originating loans. Rumors continue to circulate that the Federal Housing Finance Agency (FHFA) has instructed Fannie and Freddie to roll back their pilots, pending further review of information…
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…
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…
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…
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…
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