January 13, 2010 - New Year Party, Sequoia Restaurant, Washington, DC
Click here for details.

January 8, 2010 - Hotel Appraising: New Techniques for Today's Uncertain Times, Greenbelt, MD *
Click here for details.

January 22, 2010 - Appraisal Review - General, Rockville, MD
Click here for details.

Late February 2010 – Meet the Regulators, Washington, DC
Location and registration details to come.

March 1-6, 2010 - Report Writing and Valuation Analysis, Linthicum, MD *
Location and registration details to come.

March 19, 2010 - Appraising Distressed Real Estate: Here We Go Again, Rockville, MD
Click here for details.

April 16, 2010 - Appraising High Value & Historic Homes, Rockville, MD
Click here for details.

May 24, 2010 - Analyzing Operating Expenses, Rockville, MD
Click here for details.

September 23-24, 2010 – Appraisal Curriculum Overview (Residential & General), Rockville, MD
Click here for details.

October 15-16, 2010 - Uniform Appraisal Standards for Federal Land Acquisition, Rockville, MD
Click here for details.

December 9, 2010 - 7 Hour USPAP, Rockville, MD
Click here for details.

December 10, 2010 - Business Practices & Ethics, Rockville, MD
Click here for details.

* Co-Sponsored with the Maryland Chapter.

Foluso A. Adetayo
Delicia N. Gunn
Timothy A. Pruitt

Appraisal Review Officer
Senior Appraisal Review Officer

Click here for details.

President
(Term Expires 12/31/2010)
John M. Lansbury MAI
Vice President
Metropolitan Commercial Valuations

Vice President
(Term Expires 12/31/2010)
Stephen M. Santora MAI
Vice President / Manager
Wells Fargo Bank

Treasurer
(Term Expires 12/31/2010)
Donald S. Boucher SRA
President
Boucher & Boucher, Inc.

Secretary
(Term Expires 12/31/10)
Jerrold Harvey MAI
Managing Director
CB Richard Ellis, Inc

Past President
(Term Expires 12/31/2010)
John C. Reyle MAI
Senior Vice President
Bruce W. Reyle & Co. Inc.

Director
(Term Expires 12/31/2010)
W. Scott Gudely
The Robert Paul Jones Co., Ltd

Director
(Term Expires 12/31/2010)
Thomas J. Shields MAI
VP/Regional Manager
Joseph J. Blake and Associates, Inc

Director
(Term Expires 12/31/2011)
Jerry R. Adkins MAI
Collateral Appraiser
Wells Fargo Bank

Director
(Term Expires 12/31/2011)
James D. Donnelly SRA
Vice President
J. Lee Donnelly & Son, Inc.

Director
(Term Expires 12/31/2011)
David Fuller MAI
Principal
HVS International

Regional Representative
(Term Expires 12/31/2010)
Judith A. deLeon SRA
Owner
deLeon Appraisal Services, Inc.

Regional Representative
(Term Expires 12/31/2010)
Byron H. Howe SRA
Howe Appraisal Associates

Celebrate the New Year at the Sequoia in Georgetown!
2010 Board Election Results
Education Opportunities in January
Meet the Regulators in Late February
Members Speak Out!
New Members
Job Openings

2010 Promises New Challenges
and New Opportunities …

Focus on the opportunities at the 2010 AIDC

New Year’s Party
Wednesday, January 13
6-8:30pm

We’re gathering at the Sequoia Restaurant in Georgetown, located right on the Georgetown waterfront with a stunning view of the Potomac River and DC landmarks. The evening will include a sumptuous buffet, open bar (for the first hour), and power networking time. During the event, we’ll also introduce your new board of directors and officially install them into their roles for the new year.

Come with your appetite for good food, interesting conversation and inquisitive ear. You are bound to pick up some good tips and few leads that will help you find the opportunities in 2010.

Only $20 per person for members! RSVP for the best New Year’s Party today!

Wednesday, January 13, 2010
6:00-8:30pm
Sequoia Restaurant
3000 K St NW
Washington, DC 20007
(202) 944-4200

Click here for details and registration.

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January 8, 2010 - Hotel Appraising: New Techniques for Today's Uncertain Times, Greenbelt, MD

With the downturn in the U.S. economy and the resulting cutbacks in all types of travel, many hotel owners are under extreme stress because their property’s cash flow is insufficient to cover debt service.

This seminar provides hotel owners, operators and appraisers the tools, software and knowledge needed to evaluate the dynamically changing local supply and demand trends, quantify the relative competitiveness of nearby hotels, forecast occupancy, room rate and REVPAR, project a detailed income and expense statement and utilize the appropriate appraisal techniques to estimate market and liquidation values. In addition to hotel appraisals, this seminar also illustrates how hotel market and feasibility studies are performed.

Seminar participants will work with HVS Hotel Valuation Software, three state-of-the-art programs developed by HVS that forecasts hotel occupancy, room rate, income and expense and value. The HVS software programs and user manual, along with a demonstration hotel market study and valuation, a handbook on hotel investments and numerous research studies and articles will be included in each participant’s take-home package.

Click here for details and registration.

January 22, 2010 - Appraisal Review - General, Rockville, MD
The art of appraisal review requires a skill set that is distinctly different from that of a field appraiser. Field appraisers will gain an invaluable inside view of their clients' expectations regarding content and quality. Designed especially for appraisers who also review appraisals, this seminar will teach ways to perform review assignments more efficiently and effectively. Real estate lenders and attorneys may also find this program beneficial.

While exploring the techniques and methodologies of professional reviewers, you will identify the features of the ideal appraisal report, spot the most common reporting deficiencies and avoid reporting deficiencies. Because of its importance to the review process, compliance with USPAP Standard 3 will be thoroughly covered.

Click here for details and registration.

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Coming in Late February!

Meet the Regulators – Representatives from Fannie Mae, Freddie Mac, FHA and VA will each provide a brief overview of current regulatory issues relevant to the appraisal profession from their agency’s perspective followed by a Q&A. Specific date, location and event details to come.

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Members Speak Out!

On October 3, the Washington Post published “In the Eye of the Appraiser” (Click here to view the entire article.)

AIDC member, Linda Braley, SRA shared here reaction with the newspaper.

To the Editor of the Washington Post:

Thank you for bringing some attention to the problems resulting from the appraisal changes as they affect the
residential real estate market. I would like to share an appraiser’s perspective.

An appraisal is a supported opinion of value. Whose opinion it is, and the strength of the reasoning and data truly matter. Hiring the cheapest appraiser possible is unlikely to yield a well-considered, well-supported opinion of value by a trained professional. Systems now evolving are headed in the wrong direction.

HVCC and FHA practices have been designed, supposedly, to increase the separation between lender and appraiser and increase appraiser independence. Unfortunately, HVCC and routine FHA practices now essentially double the cost of the appraisal service to consumers, deliver half the reliability, and fail to achieve appraiser independence from pressure for value.

HVCC has encouraged insertion of another profit center in the lending process- Appraisal Management Companies (often bank owned!). AMC’s charge borrowers their fees on top of customary appraisal fees, siphon most of the money off, and hire the cheapest appraisers possible. In order to make time within the underwriting process for this extra step, appraisers are given inadequate time to do the work required. Since experienced appraisers know better than to take half pay for complex work in this complicated market, AMC’s too often hire appraisers new to the business, from distant jurisdictions. The results were outlined in your article.

FHA, which used to control quality and insure independence by rotating work within a trained panel of appraisers whose work was reviewed by HUD reviewers, has now developed a process which routinely orders 2 appraisals for the same house, doubling the cost to the borrower. FHA lenders order duplicate appraisals because the appraisals they now receive are so unreliable, one gave inadequate support to underwriters.

Sound valuation practices are fundamental to sound banking practice. Our country’s financial decisions, personal,
governmental and institutional, require sound, independent, professional valuation processes. Processes developing now are not going to yield independent, professional, well-supported opinions of value upon which anyone can rely.

Linda S. Braley, SRA
Past President, DC Metro Chapter of the Appraisal Institute

Do you have any news to share? Please let us know! Send an email to info@appraisalinstitutedc.org.

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