Capital Update

January 15, 2009

http://www.appraisalinstitutedc.org

Capital Update is a service of the DC Metro Chapter of the Appraisal Institute.
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Spotlight
February 19, 2009 - The New Residential Market Conditions Form

AIDC News

Welcome Message from the Incoming President

AI News

Check out these stories and more at Appraisal News Online

Join the AI Forum

Continuing Education

February 20, 2009 - Introduction to FHA Appraising: What Appraisers Need to Know About HUD Policies, Procedures, and Roster Eligibility

March 10-13, 2009 - General Market Analysis and Highest & Best Use

Mark your calendar

Spotlight

February 19, 2009 - The New Residential Market Conditions Form

The Appraisal Institute has developed a special “Spotlight” seminar on the November 14, 2008 release of the new Fannie Mae “Market Conditions Addendum to the Appraisal Report” (Form 1004MC). Form 1004MC will be required with all appraisals of one-to-four unit properties effective April 1, 2009. This seminar is intended for residential appraisers, review appraisers, investors, underwriters, and lender quality control staff. It will focus on researching, analyzing and reporting market conditions in the subject’s specific market as well as the policy differences called for by Fannie Mae Announcement 08-30.

Event Details:

Attendance Hours: 3.0  

Schedule: Registration begins at 2:30pm. Seminar is from 3pm-6pm.

Location:  Universities at Shady Grove, Rockville, MD

Fees: $75.00 Member; $95.00 Regular.  After Feb 10, 2009 there is a $10.00 Late Fee

Click here to Register on-line.

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AIDC News

Welcome Message from the Incoming President

Welcome to 2009 … a new year full of change, uncertainty and opportunity in most area of our lives, including our livelihood. Its times like these that make me appreciate the benefits of a strong local AI chapter; including education, networking and a voice to represent our interests. 2008 was a great year and solid foundation to build on. Over the past year we have been blessed by the addition of Peter Houstle of Mariner Management as our Executive Director. He has been hard at work over the last eight months retooling and fine tuning. If you have not met Peter, do so at our next meeting. A special thanks to Steve Santora and the search committee for their work in vetting and recommending Mariner. 

Another very special part of last year, and something I know is very near and dear to David Lamb our past president, was the addition of so many new designated members. Dave’s commitment to candidate guidance paid off. Congratulations to these new SRAs and MAIs and a special thanks to CB Richard Ellis, Jerry Harvey and their team for supplying so many of the new designees. We turned some heads at the last regional meeting with our increase in numbers. Only one chapter handed out more certificates in 2008. 

Members are the lifeblood of our chapter and we plan on continuing strong growth in 2009. If any associates are within sight of their designation or would like to make it happen within the next year or two, please contact me (jreyle@reyle.com) or any other board member and we will lend all the assistance and encouragement we can. I would also strongly encourage chapter members to invite at least one appraiser friend or co-worker to our next meeting. We would love the opportunity to introduce our chapter to potential members. The annual fee for associate membership is just $295. There is no better deal out there.

Anyone interested in attending Leadership Development & Advisory Council (LDAC), please contact me or Peter (phoustle@marinermanagement.com). Applications need to be in by February 1^st. Check it out at the Appraisal Institute's Web site: http://www.appraisalinstitute.org/profession/events/LDAC.aspx. This is an inspiring event and great opportunity to develop your leadership skills.

The strength of our chapter is in the commitment of its members to the appraisal profession. Two of our members, David Lennhoff and Richard Parli, have excelled in this area and are well-recognized on a national level for their editorial skills, course development, teaching and leadership. I would encourage all members to get involved. Serving as a regional rep or committee member is a great start. Just let us know of your interests.  

The chapter has a solid education program in place for 2009 thanks to the tireless work of Bill Moroney and Don Boucher. If there are any seminars or courses you would like to see offered, please contact Bill or Don. We are also working hard to plan quality chapter meetings at appealing venues with great food, cocktails, inspiring conversation and several hours of interesting education thrown in. You do not want to miss these events. We have an energized board and great group of officers committed to making this chapter even better. Give the next meeting a try. If you are not fully satisfied, the next cocktail is on me.     

John Reyle, MAI

2009 Chapter President 

***Your Turn! Have a story to share … send it to capitalupdate@appraisalinstitutedc.org!

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AI News 

Check out these stories and more at Appraisal News Online.

• Inside the Beltway - What’s Ahead for 2009?: What’s on the minds of the incoming Obama administration and the 111^th Congress? Read about some items likely to be included on their agenda. (published January 7, 2009) 
• SEC Clears Fair Value Accounting Rules: The SEC expands upon its findings in an in-depth 211-page report issued to Congress. Read a quick overview. A link to the full report is also provided in the article. (published January 7, 2009)

Join the AI Forum

Have anything to say about current hot topics in the valuation industry? Join the AI Forum and/or the AI Tech Forum where you’ll have the opportunity to discuss the latest AI news and industry developments with colleagues from all over. Click here for more details on how to subscribe.

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Continuing Education

February 20, 2009 - Introduction to FHA Appraising: What Appraisers Need to Know About HUD Policies, Procedures, and Roster Eligibility

With constant changes in Federal Housing Administration policy and requirements, the recent elimination of the FHA exam, and FHA and Fannie Mae appraising becoming increasingly similar to one another, appraisers need to keep abreast of the latest information on the FHA appraisal process. In Introduction to FHA Appraising: What Appraisers Need to Know About HUD Policies, Procedures and 2008 Roster Eligibility, both experienced FHA appraisers and those new to FHA appraising will gain a high level of understanding and knowledge regarding FHA appraisal policy without having to read through myriad documents from the U.S. Department of Housing and Urban Development (HUD). While participants will learn from the expertise of accomplished Appraisal Institute instructors, they also will receive a resource CD and other course materials containing essential FHA components and detailing the requisite policies and procedures of FHA appraisal. Information presented in this 7-hour seminar applies to ALL areas of residential appraising and will benefit any residential appraiser.

Event Details:

Instructor: Mark V. Smeltzer, SRA

Attendance Hours: 7.0 

Schedule: Registration begins at 8:30am. Seminar is from 9am-5pm with one hour lunch (on your own). There's a cafeteria located in Building 2
Location: Universities at Shady Grove, Rockville, MD

Fees: $175.00 Member; $195.00 Regular. After Feb 11, 2009 there is a $10.00 Late Fee

Click here to register online.

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March 10-13, 2009 - General Market Analysis and Highest & Best Use

The essential relationships between market analysis, highest and best use, the three approaches to value, and the final value opinion are covered in this AQB-approved course. You’ll recognize that market analysis is integral to highest and best use, and that highest and best use is integral to market value. You’ll also learn how to produce credible results in appraisal to develop opinions of market value.

Event Details:

Instructors: David C. Lennhoff, MAI, SRA and Richard L. Parli, MAI  

Attendance Hours: 28.0   Exam Hours: 2.0  

Schedule: Registration begins at 8:30am. Seminar is from 9am-5pm each day with one hour lunch (on your own). There's a cafeteria located in Building 2
Location: Universities at Shady Grove

Fees: $485.00 Member; $585.00 Regular. After Mar 03, 2009, there is a $20.00 Late Fee

Click here to register online.