Capital Update is a service
of the DC Metro Chapter of the Appraisal Institute.
If you would like to share some news, e-mail firstname.lastname@example.org
New job? Address change? Click here and log in to update
your membership record.
OUTLOOK FOR METRO DC REAL
ESTATE 2008 AND
10, 2009 *
Clyde's of Tysons Corner
8332 Leesburg Pike Vienna, VA 22182
Telephone: (703) 734-1901
Join the DC Metro Area Chapter of
the Appraisal Institute for an update
on the economic outlook for real estate in the Metro DC area. Attendees
will receive an overall economic review as well as individual reports
for the land, multi-family/condo, retail and office segments of the
real estate market. Presenters will address current inventory, projected
supply and demand and investment dynamics for each market segment.
miss this unique opportunity to hear from these key players,
appraisal professionals from all around the region and enjoy a great
- Vice President and Director
of Research, Cassidy & Pinkard - General Economic Outlook
President, Delta Associates-
William Kent -
Executive Vice President, CB
Richard Ellis - Retail Market
Berkman - Senior
Vice President, Grubb & Ellis Company -
- Hotel Market
: Dinner &
Members (Paid by September 3; $50 thereafter)
- Non-Members (Paid by September 3; $70 thereafter)
This program was developed and is administered
by the Appraisal
- DC Metro Chapter. Attendees are eligible to receive 2.0 hours of Appraisal
continuing education credit.
Recap: Virginia Association of REALTORS/Appraisal
Council Meeting, June 2, 2009
Donald S. Boucher, SRA
I attended an Appraisal Coalition
meeting at the Virginia Association of Realtors on 6/2/09. Various individuals attended
the meeting including a number of Appraisal Institute members. This
group, as I understood, is advising the Virginia Association of Realtors
with respect to political matters relating to their appraiser members.
Many things were discussed.
Among other things, it is my understanding is that this group will advise
the Association with respect to offering legislation to the Virginia
State House and Senate relating to the regulation of AMC's. I was appointed to be a
member of a smaller group who will make a recommendation to the Association
with respect to AMC legislation. This group will
have a conference call around the middle of June with the head of the
legal department of the Association, to discuss possible legislative
options. I offered the assistance of the AI National legal staff to
provide model AMC legislation or anything else
the group needed.
Based on what I heard I also
understood the Appraiser Coalition would recommend to the Virginia Appraisal
Commission that they adopt "Findings" similar to those recently
issued by the Illinois Appraisal Commission (these "Findings” as
I remember reading them basically deal with AMC's and how appraisers and others
should deal with AMC's; these findings can, I think,
be found on the National AI web site or other internet sources if one
wants to read them).
This group meets once each year
and I told the group our Chapter would continue to be involved.
One other thing that came out
of the meeting of interest: It appears with the advent of the HVCC many
AMC's are sending appraisers from
places like Norfolk or Virginia Beach to appraise properties in like
Richmond, appraiser's who know nothing about Richmond. The suggestion
was that AMC's are placing orders based
on fees and not on qualifications. I have been hearing similar stories
in the DC/MD area. This is causing confusion and frustration with Realtors,
buyers, sellers and others who have to deal with appraisers and the
results of appraisal reports.
Member Mary L. Schweitzer, MAI
Congratulations to Mary who
was recently awarded the Minorities and Women Regional Scholarship to
attend the Advanced Sales Comparison & Cost Approaches on September
21 - 26, 2009 sponsored by the Virginia Commonwealth Chapter. The scholarship
is for $350.00. Mary is employed with Bruce W. Reyle & Company,
Inc. in Fairfax, VA.
Build Your Brand and Business
with an AIDC Sponsorship
this opportunity to promote your name and/or business to the entire
Metro/DC appraisal community by taking advantage of these AIDC sponsorships:
AIDC offers 10-12 courses per
year. Course sponsors will have their company name and website link
on all listings related to the course offering including listings
on the AIDC website as well as in the AIDC monthly newsletter and
periodic course promotions. Course sponsors may also provide brochures
for distribution to registrants onsite at the course.
AIDC offers 3-4 events per year.
Event sponsors will have their company name and website link on all
listings related to the event including listings on the AIDC website
as well as in the AIDC monthly newsletter and periodic event promotions.
Event sponsors will be recognized at the event and may also provide
brochures for distribution to registrants onsite at the event.
AIDC publishes an electronic
newsletter 10-12 times per year. The newsletter is emailed to up to
1,000 appraisers in the metro DC region. Newsletter sponsors will
have a 120x90 pixel banner in which they can place their company logo
or very brief message. Banner will include a link to the company website.
With options of 3, 6, 9, or 12 months, your company's banner will
be displayed on all pages of AIDC website.
take advantage of these opportunities, click on AIDC
or call 301-924-1020.
Looking for the latest industry publications? Take advantage of AI's
vast online bookstoreand
receive a member's discount of up to 20%! The Appraisal Institute is
one of the world's largest publishers of real estate valuation literature
- providing the most accurate and timely publications for appraisers
and professionals in allied industries. The newest publication is The Appraisal of Nursing Facilities,
which explores long-term care facilities from both physical and economic
perspectives, is now available for only $50 (includes member
discount)! You can order online
by calling 800-504-7440 ().
Plans and Medical Insurance:
Did you know that as a member, you have access to a number of protection
plans and medical insurance services? Through a partnership with the
Real Estate Appraisers Group Insurance Trust (REAGIT),
AI offers access to the following:
10-Year Level Term
Life Insurance Plan. Underwritten by New York Life, one of the
top insurance companies in the country, this plan is designed
to protect you and your family from unnecessary financial burdens
for a 10-year period.
Dental Insurance Plan.
Choice of two affordable plans,
freedom to choose your dentist, day-one coverage for preventive care,
no deductible for preventive care, broad range of benefits, economical
group rates and easy enrollment.
find outmoreabout the REAGIT programs, contact:
REAGIT, the Real Estate Appraisers Group Insurance Trust
REAGIT Group Insurance Office
Suite 700, 300 South Wacker Drive Chicago, IL60606 * (800) 222-9958 * www.REAGIT.com
know the value of a referral So, as
part of our ongoing recruitment campaign, we want to reward every member
who brings in a new member.
are challenging times for our country and our profession. Yet, despite
the economic uncertainty, the real estate appraisal profession is positioned
to play a vital role as our economy recovers. Regardless of the economic
downturn, we added nearly 4,000 members in 2008 - a record! And this
year, our goal is just as aggressive. That's why we need your help to succeed.
June 17 through September 30,
you can receive up to 20% savings*
on 2010 national dues. You'll receive a 5% discount for every member
that joins in your name, up to 4 members.
your colleagues know about the value of membership - and reap the rewards!
Here's how it works: