Capital Update
June 2009

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Capital Update is a service of the DC Metro Chapter of the Appraisal Institute.
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Spotlight
Real Estate Market Update - September 10 in Tyson's Corner

AIDC News

Recap: Virginia Association of REALTORS/Appraisal Council Meeting, June 2, 2009

AIDC Member Mary L. Schweitzer, MAI awarded scholarship for VA event

Build Your Brand and Business with an AIDC Sponsorship
Volunteer Opportunities - Make the Most of Your Membership

AI News

Check out these Member Benefits

Save Up to 20% on Your 2010 National Dues When You Get Someone to Join Now!

Continuing Education

Spotlight

REAL ESTATE MARKET UPDATE

ECONOMIC OUTLOOK FOR METRO DC REAL ESTATE 2008 AND BEYOND

Thursday, September 10, 2009 * 4:30pm - 8:30 pm

Clyde's of Tysons Corner

8332 Leesburg Pike Vienna, VA 22182

Telephone: (703) 734-1901

Schedule

4pm: Registration opens

4:30 - 6:30pm: Presentations

6:30 - 8:30pm: Dinner & Networking

Registration Fee (includes dinner):

$40 - AIDC Members (Paid by September 3; $50 thereafter)

$60 - Non-Members (Paid by September 3; $70 thereafter)

N.B. This program was developed and is administered by the Appraisal Institute - DC Metro Chapter. Attendees are eligible to receive 2.0 hours of Appraisal Institute continuing education credit.

Click here to register - http://www.appraisalinstitute.org/education/einfo.aspx?id=14219

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AIDC News

Recap: Virginia Association of REALTORS/Appraisal Council Meeting, June 2, 2009

By 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. 

AIDC Member Mary L. Schweitzer, MAI awarded scholarship

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.

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Build Your Brand and Business with an AIDC Sponsorship

Take this opportunity to promote your name and/or business to the entire Metro/DC appraisal community by taking advantage of these AIDC sponsorships:

To take advantage of these opportunities, click on AIDC Sponsorship or call 301-924-1020.

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AI News 

Check out these Member Benefits:

Online Bookstore: Looking for the latest industry publications? Take advantage of AI's vast online bookstore and 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 (8 a.m. - 5 p.m. ET).

Protection 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:

To view all the member benefits available to you, click here. For questions regarding your benefits, contact Hope Atuel at 312-335-4476 or hatuel@appraisalinstitute.org.

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Appraisers 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.

These 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.

From 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.

Let your colleagues know about the value of membership - and reap the rewards! Here's how it works:

For more information about the referral program, visit www.appraisalinstitute.org/referral.

Questions? Contact the AI Service Center at 888-7JOINAI or aiservice@appraisalinstitute.org.

* Does not apply to Chapter Dues.

Mark your Calendar for These Fall Seminar/Events

The DC Metro Chapter Education committee is proud to announce the upcoming fall events:

Click the links below to view offerings from our regional Appraisal Institute neighbors to the North and South.

Maryland Chapter
Hampton Roads Chapter
Stonewall Jackson Chapter
Virginia Commonwealth Chapter

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