BLOG

20 Members Received Designations from the Appraisal Institute in May

The Appraisal Institute designated 20 members in May, including nine who received their MAI designations, two who received their SRA designations, seven who received their AI-GRS designations and two who received their AI-RRS designations.

Click here to view the list.

PACE Financing, Mortgage Disclosure Act Among CFPB's Top Rulemaking Priorities for the Year

By Diane Thompson

The Bureau is publishing its Spring 2019 Agenda as part of the Spring 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget. As an independent regulatory agency, the Bureau voluntarily participates in the Unified Agenda. The agenda lists the regulatory matters that the Bureau reasonably anticipates having under consideration during the period from May 1, 2019, to April 30, 2020, as described further below

Read More

AI Board Approves Certificate of Completion for International Curriculum

The Appraisal Institute Board of Directors approved a “Certificate of Completion – Fundamental International Curriculum” at its May 9-10 meeting in Chicago. The curriculum will include AI’s “International Basic Appraisal Principles,” “International Basic Appraisal Procedures” and “International Valuation Standards Overview” courses.
 
The Board also adopted proposed amendments to the Bylaws and Regulations 8, 9 and 10 regarding Past President Designated Member status and Temporarily Non-Practicing status. The 45-Day Notice was distributed to Designated Members, Candidates, Practicing Affiliates and Affiliates on March 25.
 
The Board also approved sending to 45-Day Notice proposed amendments to Regulations 1 and 2 that would remove the e-demo report and defense of reports as options for completing the demonstration of knowledge requirement.
 
In other action, the Board of Directors:
  • Amended policy for the courses requirement for General Candidates for Designation by removing the requirement to take and pass “General Appraiser Report Writing and Case Studies.”
  • Approved a transfer of funds (in the amount of the 2018 audited surplus) from the reserve fund to the operating fund.
  • Elected Elaine Liz-Ramirez, MAI, to fill a vacancy on the Audit Committee.
  • Approved the merger of the Memphis Chapter and the Greater Tennessee Chapter (to be known as the Tennessee Chapter of the Appraisal Institute).
Click here to read more.

National Nominating Committee Nominates Jody Bishop as 2020 AI Vice President

Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Charleston, South Carolina, was nominated for 2020 Appraisal Institute vice president by the AI National Nominating Committee at its May 8 meeting in Chicago.

National Nominating Committee Chair James L. Murrett, MAI, SRA, submitted the committee’s nomination to the AI Board of Directors at its May 9-10 meeting in Chicago. Board members may file petitions for additional nominees in accordance with the Appraisal Institute Bylaws. The AI Board of Directors is expected to elect the 2020 vice president at its July 25-26 meeting in Denver.

Read More

US Office Sector Steady During First Quarter, Bodes Well for New Construction: JLL

By Patricia Kirk

U.S. office market performance in the first quarter of 2019 showed resilience, with roughly 14 million sq. ft. of absorption and dropping vacancy, despite increasingly cautious economic sentiment, reports real estate services firm JLL.

Read More

2020 Slate of NCAI Officers, Directors, Regional Representative, & Alternate Regional Representatives

 

The following proposed slate is presented by the North Carolina Chapter’s 2019 Nominating Committee comprised of Joel Tate, SRA; Susan King, MAI; Frank Leatherman, MAI; Rocky McElhannon, MAI, SRA, AI-GRS; Tom Taylor, MAI, SRA.

The underlined below denotes the members selected to fill the positions as listed. Approval of this slate will be completed via an online survey which will be sent via email to the membership on Tuesday, June 18, 2019.

Read More

Industrial and Office Property Values On the Rise, Retail Headed Down, Survey Reveals

By Barbra Murray

The future still bodes well for the office and industrial sectors, according to the Royal Institution of Chartered Surveyors 2019 Q1 U.S. Commercial Property Monitor report. However, survey participants indicate that more downward movement is on tap for the retail sector.

Read More

Appraisal Institute Designates 40 Members in April

The Appraisal Institute designated 40 members in April, including; and 20 who received MAI designations; 5 who received SRA designations; 10 who received AI-GRS designations; 5 who received AI-RRS designations. Special congratulations to NCAI members, David Ivey, AI-GRS and Thomas Lott, MAI, AI-GRS.

View list here.

 

Food-and-Beverage Real Estate Expected to See an Increase in Occupancy: CBRE

By Erika Morphy

A significant shift is underway for the US restaurants and grocery industries and the real estate these operators occupy, according to a new CBRE analysis. These changes include a greater push for convenient, prepared foods, a growing millennial influence, and the emergence of inner-ring suburbs as the industry’s hottest market. 

Click here to read more.

Appraisal Institute Leaders Address Key Issues at Major Real Estate Events

The Appraisal Institute announced April 24 that its elected officers and others represented the organization at major industry events during the past month. 
 
Chief Executive Officer Jim Amorin, MAI, SRA, AI-GRS, served on a panel at the American Real Estate Society (commonly known as ARES) Annual Meeting on April 9-13 in Scottsdale, Arizona, on the relationship between universities and associations, and attracting new individuals into the valuation profession. AI also exhibited at this event. 
 
Immediate Past President James L. Murrett, MAI, SRA, represented AI at the Risk Management Association (commonly known as RMA) CRE Appraisal Manager Forum on April 11-12 in Las Vegas, where he led a discussion on the appraisal regulatory environment.
 
President Stephen S. Wagner, MAI, SRA, AI-GRS, attended the Residential Energy Services Network (commonly known as RESNET) board meeting on April 17 in Olympic Valley, California, where he discussed the AI-RESNET partnership.
 
Wagner also participated in a media tour on April 3-4 in New York, where he met with reporters at The Wall Street Journal, National Mortgage News, Money magazine, Realtor.com and The Mortgage Leader. 

New FHFA Director to Focus on Fannie, Freddie Overhaul

By Austin Weinstein

The new chief regulator for Fannie Mae and Freddie Mac says he takes the role with a “great sense of urgency” to address the biggest piece of unfinished business from the 2008 financial crisis: U.S. control of the mortgage-finance giants.

Read More

2nd Quarter 2019 Washington Report & State News

Appraisal Institute Among Organizations Opposing Residential Threshold Increase

The Appraisal Institute on Feb. 4 was one of six organizations signing a comment letter that "strongly opposed" a proposal from the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency to raise the residential appraisal threshold from $250,000 to $400,000. 

Read more.

 

Read More

Appraisal Institute Releases Annual Report Highlighting 2018 Accomplishments

The Appraisal Institute on April 17 announced that its 2018 Annual Report is available. The report highlights AI's accomplishments during the previous year in education, professional services, international activities, government relations, meetings, financial performance, professional practice and other areas.

View the report.

2 Candidates Seeking to Become 2020 Appraisal Institute Vice President

The Appraisal Institute’s National Nominating Committee is scheduled to interview two candidates for 2020 AI vice president in Chicago May 8, and the committee is expected to nominate one or more individuals for 2020 vice president at the Board of Directors’ May 9-10 meeting.

The candidates are, in alphabetical order, Pledger M. Bishop III, MAI, SRA, AI-GRS and Eric Schwartz, MAI, SRA, AI-GRS.

AI professionals may view the candidate biographies and questionnaires (login required) and provide input by 5 p.m. CDT May 6. Correspondence should be addressed to Jim Murrett, MAI, SRA, chair, 2019 National Nominating Committee, and emailed to Joan Barngrover, board secretary and special assistant to the CEO, at [email protected].

25 Members Received Designations from the Appraisal Institute in March

The Appraisal Institute designated 25 members in March, including 11 who received their MAI designations, five who received their SRA designations, four who received their AI-GRS designations and five who received their AI-RRS designations. 

Click here to read more.

Appraisal Institute Recognizes 15 Individuals as 'Volunteer of Distinction'

The Appraisal Institute on April 3 announced the recognition of 15 individuals as a "Volunteer of Distinction" for the first quarter.

Click here to read more.

2nd Quarter Chapter Business Meeting Recap

The 2nd Quarter Chapter Business Meeting was held in Asheville, NC this past week.  The guest speaker was NC House Representative Brian Turner who provided an informative overview of upcoming priorities for the NC General Assembly.  He also took questions from the audience on a variety of issues.  During the meeting the chapter celebrated two new designees Laura Gourley, AI-GRS and Bill Johnson, MAI and acknowledged the Q2 education scholarship recipients Erica Butler, Joel Phillips and Mary Coltrane.



Read More

In-Depth Scrutiny of Published Data Improves Property Market Understanding: The Appraisal Journal

A detailed analysis of population and employment data, along with the use of fair share comparisons, increases the accuracy of assumptions made by appraisers when completing commercial valuation assignments, according to a study published this week in The Appraisal Journal.

The Appraisal Journal is the quarterly technical and academic publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers. The materials presented in the publication represent the opinions and views of the authors and not necessarily those of the Appraisal Institute.

Read More

SBA Releases Updated Appraisal Policy, Adds Evaluations

The Small Business Administration issued revised guidance March 26 stating that an appraisal may be needed to evaluate the creditworthiness of commercial real estate loans below $500,000. New legislation that aligned SBA regulations with those from the federal bank regulatory agencies eliminated the appraisal requirement for commercial loans below the half-million-dollar threshold. 

Click here to read more.

Registration Opens for 2019 Appraisal Institute Annual Conference in Denver

The Appraisal Institute on March 25 opened registration for its 2019 Annual Conference, which will be held July 22-24 at the Hyatt Regency Denver near the Colorado Convention Center.
 
Allison Massari, an entrepreneur, celebrated artist, accident survivor and executive coach, will be the keynote speaker. Massari will address her personal journey from absolute loss, to forgiveness to understanding, and finally to success and a life beyond anything she could have imagined. Her messages give audiences the tools they need to rise above any obstacle and show them how to find peace, purpose and happiness.
 
The 2019 AI Annual Conference will feature an exciting lineup of speakers, extensive opportunities for networking and continuing education (with the chance to earn Appraisal Institute and state continuing education credit), an awards ceremony, vendor exhibits and numerous opportunities to explore the Mile High City.
 
Learn more about the AI Annual Conference and register to attend.