AIDC News

Two Members Receive MAI Designation

Linda Ann Rushing, MAI, and Linda M. Vincent, MAI were awarded their MAI Designation this month – congratulations to both! As most know the MAI membership designation is held by appraisers who are experienced in the valuation and evaluation of commercial, industrial, residential and other types of properties, and who advise clients on real estate investment decisions. Only those members who have met the rigorous requirements relating to education, testing, experience and demonstration of knowledge, understanding and ability are given the MAI designation. Learn more on the Appraisal Institute website.

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Finding Members - Electronic Directory Now Available

Networking is considered the #1 value of chapter membership and it just got easier! A downloadable directory of chapter members is now available on our website. Click here to go to the page where you can download the directory or access the online searchable directory.

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Continuing Education

Friday, June 20, 2008 - Quality Assurance in Residential Appraisals

This unique new seminar was designed to show the residential appraisal community the consistent problems found by underwriters, appraisal reviewers, quality control divisions, and fraud investigators. Although this seminar was developed around the Uniform Residential Appraisal Report form (URAR) it is not intended to review the entire form. This is a "real-world" educational experience - all class discussion exercises and examples of appraisals are from real cases, with appropriate identification information changed for the purpose of confidentiality. The seminar will review areas of the appraisal that reveal red flags that the value is unsupported.

Event Details:
Instructor: James Atwood, SRA
Time: Registration begins at 8:30am. Seminar is from 9am-5pm
Attendance Hours: 7
Location: Northern VA Association of Realtors (NVAR), Herndon, VA
Registration Fee:
$175 – AIDC Members (Paid by June 10; $195 thereafter)
$195 – Non-Members (Paid by June 10; $215 thereafter)
Register online at http://www.appraisalinstitute.org/education/add2cart.aspx?id=9550

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Friday, July 18, 2008 - Analyzing Distressed Real Estate

This seminar was designed to benefit real estate appraisers and brokers in their review and analysis of distressed real estate. Basic real estate issues will be discussed along with detailed considerations in an attempt to satisfy both the seasoned and entry-level real estate analyst. All real estate analysts, experienced or otherwise, can benefit from the enhanced awareness that appropriately analyzing distressed real estate can have on preparing supportable estimates of value on these type properties. Please note: The majority of the properties disclosed will be commercial properties, but residential properties will also be discussed.

Event Details:
Instructor: William “Ted” Anglyn, MAI
Attendance Hours: 4
Location: Universities at Shady Grove, Rockville, MD
Schedule: Registration begins at 8:30am. Seminar is from 9am-1pm.
Registration Fee:
$95 – AIDC Members (Paid by June 10; $105 thereafter)
$105 – Non-Members (Paid by June 10; $115 thereafter)
Register online at http://www.appraisalinstitute.org/education/add2cart.aspx?id=10176

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Chapter Sets Fall Education Schedule

• September 5, 2008 - REO Appraisal: Appraisal of Residential Property Foreclosure, Rockville, MD
• November 14, 2008 - Supporting Capitalization Rates Seminar
• December 12, 2008 - 7-Hour National USPAP Update Course

Industry News

Upgrading Your Appraisal Credential

If you want to upgrade your appraisal credential to the next level there is good news according to an article in the District Appraiser: the Appraiser Qualifications Board (AQB) says an appraiser who holds valid current appraisal credential satisfies the educational requirements for that same level of license under the AQB Real Property Appraiser Qualification criteria adopted November 2006. Listed below is breakdown of the qualifying education requirements for a credential upgrade:

Current Classification Classification Desired QE Hours Granted QE Hours Needed

Appraisal Trainee Residential License 75 75
Appraisal Trainee Certified Residential 75 125
Appraisal Trainee Certified General 75 225
License Residential Certified Residential 150 50
License Residential Certified General 150 150
Certified Residential Certified General 200 100

To upgrade, you will have to meet the general education, experience, and examination requirements along with the qualifying education requirements. For more information about upgrading an appraisal credential, contact the Appraisal Foundation at www.appraisalfoundation.org or 202-347-7722.

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Reciprocity in Maryland

DC Board of Appraisers (DCBOA) accepts reciprocity from all states except Maryland. Reciprocity applicants must complete the application packet and submit a current letter of good standing from the state where the applicant has a valid current appraisal license. Maryland applicants may apply for DC appraiser credentials by the endorsement program by completing an application packet with a letter of good standing, copies of education hours, and the experience log that was submitted to Maryland. Contact Pearson VUE at 888-204-6206 for application packets.

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Real Property Appraiser Qualifications Criteria Changes in Effect January 1, 2008

Changes to the Real Property Appraiser Qualifications Criteria which went into effect on January 1, 2008 increase the minimum education requirements for individuals applying for the Licensed, Certified Residential, and Certified General classifications of licensure. The revisions increase the Education requirements for Licensed classification to 150 hours, Certified Residential classification to 200 hours, and Certified General classification to 300 hours. Changes also effect college-level education setting the criteria for the Certified Residential classification as an Associate degree or a minimum of 21 college semester hours in specified coursework. Certified General classification requires a bachelors degree or a minimum of 30 college semester hours in specified coursework.

The revised AQB Real Property Appraiser Qualification Criteria apply to applicants for an original license or certificate as well as those individuals changing credential level. Trainees seeking initial licensure or licensees and certified residential appraisers seeking to upgrade their status should be mindful of the AQB-CAP approval requirement. For more information visit The Appraisal Foundation online.

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Appraisal Institute - DC Metro Chapter
c/o Mariner Management - PO Box 1046 - Laurel, MD 20725
301-924-1020