Capital Update
February 3 , 2010
Upcoming Education

February 23, 2010 Residential Appraisal Policy Update, Washington, DC
Click here for details.

February 26 - March 4, 2010 - Report Writing and Valuation Analysis, Linthicum, MD *
Click here for details.

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.

June TBD - Construction Costing Workshop

Fall TBD - Real Estate Market Update

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

October 14-15, 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.

Welcome New Members

Scott E. Dunphy
Brian A. Ginter
David A. Landsbury
David Andrew Lansbury
Oscar Loayza
James M. Moore
Cutchin Powell
Michael Wright
Jason Yang

Job Openings

Multifamily Appraiser, Senior for Freddie Mac

Click here for details.


2010 Board of Directors

(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

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

(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.

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

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

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

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

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

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

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






In This Issue

Hear from Fannie, Freddie & Friends on February 23!
AIDC Member Deploys to Iraq
Education Opportunities Coming Soon
New Members
Job Openings

Residential Appraisal Policy Update

Tuesday, February 23, 2010
City Club at Franklin Square
1300 I St NW * Washington, DC 20005 * 202-408-1300

This is your chance to hear from representatives of four agencies regarding …

  1. Policy updates on the HVCC, IVPI, new data initiatives (“Collateral Data Delivery”), Mortgagee Letters (payment of “customary and reasonable fees”), and oversight and enforcement of lenders, AMCs, brokers, and appraisers.
  2. Policy overviews of the GSE's , FHA and VA with respect to the use of AVM's, BPO's and non-traditional valuation options for mortgage lending and loss mitigation purposes.
  3. The future for appraisal products in mortgage lending and loan portfolio management.
  4. Potential changes in the required qualifications for appraisers.

In addition, you will be able to…

  1. Put your own questions to knowledgeable staff of the Appraisal Institute regarding legislative proposals in Congress regarding appraiser oversight and enforcement and appraisal independence.
  2. Network with other members of our local Chapter and guests.
  3. Understand and identify new business opportunities resulting from current and pending changes (legislatively and by rules or regulations).


  • Robert Murphy - Senior Business Manager, Credit Policy & Controls, Enterprise Risk Office, Fannie Mae
  • Jacqueline Doty - Collateral Policy Director, Freddie Mac
  • Margaret Burns - Director, Office of Single Family Program Development, Federal Housing Administration
  • Gerald A. Kifer - Supervisory Appraiser, Department of Veterans Affairs

Bill Garber - Director, Government and External Relations, Appraisal Institute

Event Schedule:
11:30 am – Noon - Registration
Noon – 2:00 pm - Networking Lunch & Program

Registration Fees:
Members: $45 until February 19; $55 thereafter
Non-Members: $75 until February 19; $85 thereafter

Seating is Limited - Click here to register today and Save!

Nearest Metro - McPherson Square. Parking is available in the building, $7 per hour with a maximum of $14 for all day parking. The parking Garage is located just past the awning of Wachovia Bank on 13th Street.

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Corps of Engineers Chief Appraiser Deployed to Iraq

AIDC member, Patrick Murphy, SRA, ASA, Chief Appraiser at the U.S. Army Corps of Engineers, is being deployed to serve as Chief of Real Estate of the Gulf Region Division in Baghdad, Iraq. He will be located at Camp Victory, Iraq, beginning in early February of this year through the middle of February, 2011.

Mr. Murphy has been an active member of the Appraisal Institute since 1982, beginning with NJ Metro Chapter #1 of the American Institute of Real Estate Appraisers and the Central NJ Chapter of the Society of Real Estate Appraisers. He served as Education Chair of the Maryland Chapter for many years and as its President in 2007.

He is presently a member of the Metro Washington DC Chapter. He teaches many courses and seminars for the Appraisal Institute and is an AQB Certified National USPAP Instructor. He also serves as a Commissioner of the Maryland State Board of Real Estate Appraisers.

The U.S. Army Corps of Engineers is a worldwide engineering organization staffed with almost 37,000 personnel, of which 900 are in the Real Estate Directorate. The Project budgets for 2009 were forty-five billion dollars. The Iraq Real Estate Team Consists of Corps of Engineers Realty Specialists and contracted interpreters, legal, and title professionals. Click here to view projects requiring real estate services.


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Courses Coming in Late February Early & March

February 26 - March 4

Report Writing and Valuation Analysis, Linthicum, MD - This course provides instruction and practice in communicating a narrative appraisal. Lectures focus on relevant questions in each step of the valuation process and on the integration of the various parts of an appraisal report. Participants work through a case study, deriving conclusions and organizing them into a consistent, well-reasoned narrative.

The examination consists of various parts of a Self-Contained Appraisal Report, which are prepared as homework assignments and submitted at the end of the course. By focusing on effective organization, style, grammar, and the elimination of wordiness and ambiguity, participants learn to develop good writing habits and communicate effectively in appraisal reports.

This course may be used to fulfill the 30-hour Elective topic requirement toward certification in states where approved for QE credit. NOTE: This course is not a substitute for the prerequisite General Appraiser Report Writing & Case Studies course. Note: Required MAI Designation Course


Click here for details and registration.

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March 19, 2010
Appraising Distressed Real Estate: Here We Go Again, Rockville, MD - In keeping with its cyclical nature, the real estate market has once again moved toward a state of dissolution. In the current economic downturn, this timely new seminar provides critical insights on how appraisers, lenders, and investors will value distressed real estate.

In Appraising Distressed Commercial Real Estate: Here We Go Again, learn how to analyze distressed development properties and improve commercial real estate under the present market conditions.

  • Examine, in detail, specific steps to enhance distressed properties.
  • Develop methods for arriving at a market-supported “as-is” value forecast and in doing so, acquire techniques for enticing entrepreneurs, among other buyers.
  • Discuss adaptive and alternative use on distressed properties that no longer support their current use by reviewing three examples that demonstrate the conversion process.
  • Also, learn to accurately evaluate land values with limited direct comparables while you explore three unique case studies involving property in times of distress.

Click here for details and registration.


Online Education: Learn at your own pace anytime, anywhere.
Top-notch Appraisal Institute courses and seminars come straight to your desktop with online education! Learn from any computer anywhere, whenever you have time. It’s easy, convenient and a great way to get the education you want. Check out the current course listing now!

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