AIDC News

Meet Board Member Stephen M. Santora, MAI

Steve Santora, MAI, VP/Manager Wells Fargo Bank RETECHS, is the 2008 Secretary of the Appraisal Institute, DC Metro Area Chapter. We caught up with him recently and asked him to share his thoughts on the profession and the Chapter. You can reach Steve by email at santoras@wellsfargo.com or phone 202-303-3028.

What prompted you to this profession?
My first residential real estate sales manager. I started in residential real estate sales back in 1983-84, when residential mortgage rates went down to 15% then 13%. My manager thought that appraisal was a better fit for me (not many 23 year olds were able to sell houses back in those days).

What keeps you motivated in this profession?
Sometimes it’s hard to stay motivated, given many appraisal assignments that are as interesting as watching paint dry! What really motivates me are the rewards of a job well done. Personally, my job is to protect the assets of the financial institution I work for, but also to help get business closed, especially the most difficult assignments (those that require intense analysis).

Please share a story or item of which you are proud?
I always want to set a good example for my son – mainly not to shy away from hard work / difficult situations. If I can commute 4 hours a day, work 10-12 hours, and still get home to help him with his homework, then the good grades he brings home makes me most proud.

What one personal item would give members an insight into who you are or one thing that most AI members don’t know about you?
Don’t tell me something can’t be done without showing any effort / support for that opinion. Negative biases really tic me off, and make me more determined than ever to prove naysayers wrong. Being lazy / saying it can’t be done just gets me very angry, and makes me more competitive.

What is one word or phrase that best describes this chapter?
Transition. This chapter hit rock bottom last year. One can say the only place to go is up, but such underscores what’s going on. The commitment the current Board of Directors and those who are willing to volunteer for next year is excellent. There is a great deal of work going on behind the scenes to bring this Chapter back to national prominence, and I know we will get there.

What is the biggest issue facing you in the profession or the profession as a whole?
Age/declining membership. We have to reach out to those appraisers not affiliated with the Institute, and pull them in; however, we have to be able to offer them something. The members of this Chapter will soon see that we’re going to be offering a lot over the next five years.

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Chapter & Members Helping Member in Oklahoma

AIDC and several other members reached into their pockets to aid a fellow member’s family following a dirt bike accident which left the son with life-threatening injuries. Green Country of Oklahoma Chapter began a relief fund for Don Henderson’s family with $1000 and has asked other Real Estate Professionals to contribute toward the ultimate goal of $10,000.

Having lived through a major medical situation with his own family, chapter president Dave Lamb noted that the outpouring of support for Don from members like Dave and chapters like ours demonstrates that “we are all members of a great organization.” For more information on the fund, visit the Oklahoma chapter website.

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Welcome New Members - June 2008

John M. Christ - JMC Real Estate Appraisal Services Inc.
Robert L. Garland - USE Appraisal Services, Inc.
Kenny Lipsman
Donald F. Maddrey - CB Richard Ellis
Adil Ouinaksi
Raja Raza - Discovery Appraisals, Inc.
Linda A. Rushing, MAI - CB Richard Ellis
Linda M. Vincent, MAI - CB Richard Ellis
James T. Walker, Jr. - The Walker Group
David Weisel - Delta Associates

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Continuing Education

Chapter Fall Education Schedule Kicks Off Sept 5

Planning for the 2008-2009 Chapter Year is in full swing. Please visit our website for a preview of the training classes and seminars on the schedule so far. Mark V. Smeltzer, SRA, Smeltzer Appraisal Service, will kick off the fall schedule with REO Appraisal: Appraisal of Residential Property Foreclosure on September 5, 2008 in Rockville, MD. Bookmark http://www.appraisalinstitutedc.org/index.html for easy access to schedule updates and information.

We welcome your ideas and suggestions for courses. Send your comments to info@appraisalinstitutedc.org.

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An Introduction to Valuing Green Buildings

The Appraisal Institute’s new seminar An Introduction to Valuing Green Buildings will come to Washington DC on July 11 giving chapter members an opportunity to learn more about this timely topic. The 7-hour course will explore the history of the “green” building movement in the US. Case studies covering recently completed green buildings, will illustrate concepts and real world applications. Become familiar with design principles, cost-benefit analysis, and the implications for the valuation process. Also, discover how green buildings are analyzed and valued for investment purposes. The program takes place at the U.S. Green Building Council at 1800 Massachusetts Avenue. For more details and to register, visit the AI website.

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