Capital Update

March 18, 2009

 

http://www.appraisalinstitutedc.org

Capital Update is a service of the DC Metro Chapter of the Appraisal Institute.
If you would like to share some news, e-mail info@appraisalinstitutedc.org
New job? Address change? Click here and log in to update your membership record.

 

Spotlight
Economic Stimulus Package for AIDC Chapter Members!

 

AIDC News

Meet Board Member Donald Boucher, SRA

Welcome New Members
 

AI News

March 25, 2009 Webinar: Tenant Credit Analysis

Winter 2009 Appraisal Journal Issue Spotlights Special Property Topics

 

Continuing Education

April 16, 2009 - Spotlight on USPAP: Common Errors and Issues PLUS Networking Reception

April 29 - 30, 2009 Evaluating Commercial Construction

May 1, 2009 - Evaluating Residential Construction

Mark your 2009 Fall Calendar

 

 

Spotlight

 

Economic Stimulus Package for AIDC Members - The AIDC board has approved a $40 per member registration credit for all programs in the remaining 2009 calendar year (see highlighted events and calendar below). This credit may be used in two $20 increments (one per program) by applying one of two promotion codes at checkout when registering for an event. The codes are VDCECON and VDCSTIM (all upper case). Maximum use is one each per AIDC chapter member. Please contact us by phone (301-924-1020) or email (info@appraisalinstitutedc.org) if you have any questions.

 

Please note: These funds may not be used for performance bonuses or mergers and acquisitions. Misuse will be prosecuted and taxed to the full extent permitted by law.  ;)

 

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AIDC News

 

Meet Board Member Donald Boucher, SRA

 

Don Boucher, SRA, President of Boucher & Boucher, Inc. and 2009 Secretary of AIDC shares his experiences as an appraiser and a member of AIDC.

 

What prompted you to do this profession? 

Like many in our Chapter, I am a product of nepotism.  My father started as an appraiser around 1950, went on to earn his MAI, and served as National President in 1971. I got in by accident as I was the least likely of any kids in my family to follow Dad in his profession. One morning in the early 1970’s while I was a student at University of Maryland and still living at home, Dad was busy and asked if I would go look at a house for him. He told me to just write down everything I saw and report back to him. I went to look at the house, and told him what I saw. He thanked me and gave me $10. To a college student in the 70s, that was a lot of money. I said to myself, well, this isn’t bad.  He asked me for more help later, and I liked it. The rest is history. That’s how I got in.

 

What keeps you motivated? 

The people I meet doing appraisals, the people I know and continue to meet in the profession, and the knowledge that what I do really helps and matters to some clients. For me, it is all about relationships and helping people. If it were just about knocking out appraisals, I wouldn’t be interested.

 

Please share a story you are proud of: 

My favorite story involves Bill Harps, Richard Harps’ dad.  My Dad and Bill were good friends, as I am with Richard. I was a young guy and just starting to take AI courses. Bill was teaching a Basic Principles course at the University of Connecticut.  He invited me to drive up with him, so I did. Bill was one of the great teachers with AI, and he loved to talk. In any case, he taught me the course on the drive up, taught me the course during the course, and taught me the course on the drive back. Needless to say, I got that one down pretty good. 

 

What one word or phrase best describes this Chapter? 

The Phoenix. We have dived into the burning ashes but will rise again. We were one of the pre-eminent chapters with respect to education and leadership in the past. We had three National Presidents within a very short period of time, and excellent educational offerings. With the help of our new management company, our dedicated officers and board members, and our volunteers, we are going to get there again. I know it.

 

What is the biggest issue facing you in the profession or the profession?

My only issue now that I am 56 is riding this wave out. My business model is in place and I think I will do ok to the end. With respect to the profession, government involvement has messed the whole thing up. Licensing allows to many people into the profession who are not qualified and many who are just plain dishonest. The more the government tries to do (albeit trying to ensure appraisal independence, along with some other things they are trying, is good), I am afraid it will just mess things up more.

 

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

 

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Welcome New Members

Scott A. Kimble

Michelle P. Poggi

Tammy Sarvi

Matthew Waisnor

Peter T. Lane

Bruce Flanagan, Jr.

Stephen T. Ruff

 

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AI News 

March 25, 2009 – Webinar: Tenant Credit Analysis - Learn about these relevant topics: tenant credit, tenant creditworthiness, warning signals that indicate potential credit problems, and how credit impacts real estate valuations. Approved for 1-hour of Appraisal Institute continuing education credit for Appraisal Institute members. Not approved for state continuing education credit.
 
For more details and registration, click here


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Winter 2009 Appraisal Journal Issue Spotlights Special Property Topics
The Winter 2009 issue of The Appraisal Journal examines the distinctive characteristics of landfills and how they affect property values. Other articles in the Winter issue look at techniques for valuing ground lease reversions, discount rates, leased fees in custom-built commercial properties, and the component elements that make up overall property value. For more information on these stories and more, click on The Appraisal Journal.  

 

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Continuing Education

           

April 16, 2009 - Spotlight on USPAP: Common Errors and Issues PLUS Networking Reception - Join the DC Metro Area Chapter of the Appraisal Institute for a 2 hour Spotlight on USPAP seminar (FREE to AIDC members!) followed by a sumptuous reception in the Galaxy Ballroom on the 16th floor of the Sheraton National Hotel overlooking Washington, DC. 

 

We’ll start with the education … This seminar is one in the series titled "Spotlight on USPAP," developed by Stephanie Coleman, MAI, SRA, and Jan Young, MAI, of the Appraisal Institute's Professional Practice Department. "Common Errors and Issues" addresses problem areas that often are observed in appraisal reports submitted to the Appraisal Institute for admission and ethics screening.

 

Then comes time to relax, eat and catch up with appraisal colleagues around town …

Dine on hors d’oeuvres, hear the latest chapter and appraisal news, and meet colleagues. In a brief membership meeting, we’ll bring you up-to-date of what AI is doing for you. Cash bar available.

 

Schedule:
3:00 pm: Registration opens
3:30 – 5:30pm: Spotlight on USPAP
5:30 – 7:30pm: Networking Reception (a dinner’s worth of hot hors d’oeuvres) & Membership Meeting

Event Details:

Instructor: Mark Smeltzer, MAI, SRA

Attendance Hours: N.B. Attendees are eligible to receive 2.0 hours of Appraisal Institute continuing education credit

Location: Sheraton National Hotel, 900 South Orme Street • Arlington, Virginia 22204 • (703) 521-1900

Registration Fee: AI Members - Spotlight on USPAP (AIDC Members ONLY - Enter the promo code "comp" (all lower case) to attend just the USPAP Spotlight program for FREE!)

 

- Networking Reception & Membership Meeting - $25

- Non-Members - $35 (includes both USPAP and Reception)

 

Click here for details and registration. 

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April 29 - 30, 2009 Evaluating Commercial Construction - Evaluating Commercial Construction presents how light industrial, office and retail buildings are assembled and then deteriorate over time. More than 1,250 construction slides and a 150-page Reference Manual illustrate site improvements, structure, envelope, interior, and environmental system components of a commercial building and how these elements can affect value.

This seminar offers you critical skills necessary to better inspect, describe, and analyze commercial property. Once you have taken this program, you will better identify building characteristics, conditions, and deficiencies; succinctly describe what you see in an appraisal report; and then factor your insights into the replacement cost, income capitalization, and market comparable calculations. Participants have highly praised the seminar for its useful content and relevance to commercial real estate appraisal, brokerage, and lending.

 

Click here for details and registration.

 

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May 1, 2009 - Evaluating Residential Construction - Evaluating Residential Construction shows how single-family houses are constructed from the ground up. More than 950 construction slides and a 120-page Reference Manual illustrate site conditions, structure, envelope, interior, and environmental system components for houses ranging from custom to affordable, and even double-wides.

This seminar will improve your confidence to inspect, characterize, and critique a new or existing residential property. You will better identify and describe the quality and condition of a house that affect its market appeal and probable value. Participants have given this seminar high marks for its practicality and benefit to real estate appraisers, brokers, and mortgage lenders.

 

Click here for details and registration.

 

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Mark Your 2009 Fall Calendar

It’s never too early to start filling in your fall calendar, so be sure to mark these dates …

  • September 18, 2009 - Appraisal Challenges: Declining Markets and Sales Concessions
  • October 16, 2009 - Introduction To Appraising Green Buildings
  • November 13, 2009 - Real Estate, Value and Investment Performance
  • November 19-20, 2009 - Residential Site Valuation and Cost Approach
  • December 3, 2009 - 7-Hour USPAP
  • December 4, 2009 - Business Practices and Ethics
  • TBD – Regional Market Update (Early Fall)
  • TBD – Holiday Networking Party (December)

**Keep up to date on upcoming training classes and seminars by visiting the DC Metro Area Chapter Website.

 

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PO Box 1046 * Laurel, MD 20725-1046 * 301-924-1020