AIDC News

Message from the President

I hope everyone is ready for a great summer. I know I’m ready for some boating and fishing as well as some steaming hot blue crabs and cold beer. I’ll squeeze in a little appraising as well, as time/weather permits.

We’ve got a wonderful seminar and dinner meeting planned for June 24th at Maggiano’s in Chevy Chase, DC and I hope you can attend. The topic of discussion is a “Regional Development Update” and we’ll have speakers from some major projects in the area like the Inter-County Connector and the National Harbor project. Mark your calendar off for an evening with AI members that will certainly include adequate parking, good food and an interesting seminar to both residential and commercial appraisers.

Have a great summer and I hope to see you on June 24th at Maggiano’s.

David N. Lamb, MAI

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Meet AIDC Board Member John Reyle

John Reyle, MAI, Bruce W. Reyle & Co. Inc. is the 2008 Vice President of the Appraisal Institute, DC Metro Area Chapter. We caught up with John recently and asked him to share his thoughts on the profession and the Chapter.

What prompted you to this profession?
 
Like many appraisers, I grew up with a parent appraiser, my Dad. As a teenager, I was certain I would grow up to be anything but an appraiser. However, after a three-year stint as an accountant/auditor, appraising looked very good. Fortunately, Dad was still willing to train me.
 
What keeps you motivated in this profession?
 
The appraisal profession has so many different facets and each assignment represents a unique problem; it’s hard to be bored. As appraisers, we play an important role in the proper functioning of the real estate markets. Unbiased opinions of value are critical to the lending process and protect all parties to the transaction.
 
Please share a story or item of which you are proud?
 
As a relatively new appraiser, my father and I met a client at his office. After introductions, the client wanted to know if we were brothers. At the time, I felt heartened that I appeared to be “experienced”. Now, I just look old. My Dad was thrilled.
 
What one personal item would give members an insight into who you are or one thing that most AI members don’t know about you?
 
I love sports and physical challenges. I walked 100 kilometers in one day a few years back. The blisters healed and I would love to do it again. I am a recent grandpa, for the first time.
 
What is one word or phrase that best describes this chapter?
 
Professional. Great people; more exciting than accountants.
 
What is the biggest issue facing you in the profession or the profession as a whole?
 
One challenge personally is to maintain the highest quality work product despite a hectic work load. For the profession as a whole, we need to attract young, energetic professionals to the field in order to remain viable in the future.

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Continuing Education

Friday, June 20, 2008 - Quality Assurance in Residential Appraisals

This unique new seminar was designed to show the residential appraisal community the consistent problems found by underwriters, appraisal reviewers, quality control divisions, and fraud investigators. Although this seminar was developed around the Uniform Residential Appraisal Report form (URAR) it is not intended to review the entire form. This is a "real-world" educational experience - all class discussion exercises and examples of appraisals are from real cases, with appropriate identification information changed for the purpose of confidentiality. The seminar will review areas of the appraisal that reveal red flags that the value is unsupported.

Event Details:
Instructor: James Atwood, SRA
Time: Registration begins at 8:30am. Seminar is from 9am-5pm
Location: Northern VA Association of Realtors (NVAR), Herndon, VA
Register online at http://www.appraisalinstitute.org/education/add2cart.aspx?id=9550

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Industry News

Home Valuation Code of Conduct

Many of our residential appraisers are concerned about the impact of the Home Valuation Code of Conduct (HVCC) which is proposed in Congress. Below are two websites that tackle some of these questions.

• Appraisal Scope.com at http://appraisalnewsonline.typepad.com/appraisal_news_for_real_e/2008/03/the-hvcc---defi.html

Appraisal Institute - DC Metro Chapter
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301-924-1020