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More than 550 Attend AI Annual Conference in Nashville, Tennessee

by: NCAI
Category: Programs
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Aug
06

NASHVILLE, Tennessee (July 30, 2018) – More than 550 real estate professionals from around the world today attended the opening session of the valuation profession’s most important annual event, hosted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

The 2018 Appraisal Institute Annual Conference, being held at the downtown JW Marriott Nashville today through Wednesday, features world-renowned keynote speakers, nearly 30 breakout sessions on trend-setting valuation topics, networking opportunities for industry professionals, an exhibit hall featuring cutting-edge products and services, and an awards ceremony honoring the valuation profession’s best and brightest.

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Appraisal Institute Opposes Effort to Reduce Risk Management for SBA Loans

by: NCAI
Category: Legislative
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Jul
26

The Appraisal Institute today announced its opposition to proposed federal legislation that would reduce the requirements for appraisals in major Small Business Administration loan programs.

The Appraisal Institute objects to the provisions of H.R. 6347, the 7(a) Real Estate Appraisal Harmonization Act, and H.R. 6348, the Small Business Access to Capital and Efficiency Act, both of which would adjust upward the real estate appraisal thresholds for SBA loan programs. An appraisal threshold is the amount of a real estate transaction above which an appraisal is required.

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New AI videos: Unusual Challenges and USPAP Optimization

by: NCAI
Category: Industry
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Jul
13

The Appraisal Institute has posted new videos to its YouTube channel. 

You can see the related blog posts on AI’s “Opinions of Value” blog.

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Appraisal Institute Contributes at Major Industry Events in June

by: NCAI
Category: Industry
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Jun
28
The Appraisal Institute announced June 27 that its elected officers and others represented the organization at various events throughout the month.
 
AI President James L. Murrett, MAI, SRA, was joined by President-Elect Stephen S. Wagner, MAI, SRA, AI-GRS; Vice President Jefferson L. Sherman, MAI, AI-GRS; and Immediate Past President and Acting CEO Jim Amorin, MAI, SRA, AI-GRS, at the Appraisal Institute of Canada Annual Conference, June 13-16, in Quebec City.
 
Sherman also addressed the Ohio Coalition of Appraisal Professionals Real Estate Appraiser Seminar, June 19, in Columbus, Ohio, where he presented “Issues Affecting the Appraisal Community.”
 
Amorin attended the National Council of Real Estate Investment Fiduciaries Summer Conference, June 19-22, in Charlotte, North Carolina; Sherman represented AI at the International Right of Way Association Education Conference, June 24-27, in Edmonton, Alberta, where AI also exhibited; and Wagner joined Murrett at the Institute for Professionals in Taxation Annual Conference, June 24-27, in Vancouver, British Columbia.
 
AI 2016 President Scott Robinson, MAI, SRA, AI-GRS, AI-RRS, addressed the World Association of Valuation Organizations’ and International Valuation Standards Council’s Global Valuation Conference, June 25-26, in Singapore where he presented “Fundamentals of Separating Real Property, Personal Property and Intangible Business Assets.”
 
AI exhibited at the CRE Finance Council June Conference, June 11-13, in New York.

Court Finds Tax Appeal Attorneys Not Engaged in Appraisal Practice

by: NCAI
Category: Legislative
Tags
Jun
28
The Circuit Court of Cook County, Illinois (Chancery Division) on June 20 ruled that attorneys who referenced comparable property valuations and market values based on an income approach as part of tax appeal proceedings were simply engaged in the traditional practice of law and not in appraisal practice.
 
The case, Illinois State Bar Association vs. Illinois Department of Financial and Professional Regulation, was filed in July 2017 after two Illinois attorneys were accused by the IDFPR of engaging in unlicensed appraisal practice after they submitted comparable property valuations, income approach information and market value opinions as part of two tax assessment appeals in DuPage County and McHenry County. 
 
ISBA filed a complaint seeking a declaration that the IDFPR lacked authority to prosecute, discipline or sanction lawyers for engaging in the practice of law for advocating on behalf of clients in real estate tax assessment proceedings. The case also sought to enjoin the IDFPR from initiating, maintaining or threatening prosecution of attorneys for engaging in that activity.
 
The main question before the court was whether an attorney representing a client in a tax proceeding violated the state’s Appraisal Act and functioned as an unlicensed appraiser when providing an analysis of comparable property valuations or developing an opinion of market value utilizing the income approach in a legal brief supporting a tax appeal. 
 
ISBA issued a statement when it filed suit noting, “Arguments based on property valuation are common in many legal fields and have long been typical of real estate tax assessment practice. The ISBA believes that making such arguments on behalf of clients clearly constitutes the practice of law, does not entail the submission of an appraisal, and is well beyond the authority of the IDFPR to regulate.”
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Appraisal Institute Releases Guide to "Residential Green" Addendum

by: NCAI
Category: Industry
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Jun
26

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today released a guide to complete and use the organization’s “Residential Green and Energy Efficient Addendum.”

This guide helps appraisers, real estate agents, energy and green raters, lenders, builders, the secondary mortgage market and sustainability organizations understand how each section of the addendum applies to valuation and marketing of the property.

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