Capital Update
May 5, 2010
Upcoming Education

May 24, 2010 - Supporting Capitalization Rates , Rockville, MD
Click here for details.

June 9 - Regional Construction Cost Update, Tysons Corner, VA
Click here for details.

Fall TBD - Real Estate Market Update

September 23, 2010
Appraisal Curriculum Overview (Residential Only), Rockville, MD
Click here for details.

September 23-24, 2010 Appraisal Curriculum Overview (Residential & General), Rockville, MD
Click here for details.

October 14-15, 2010 - Uniform Appraisal Standards for Federal Land Acquisition, Rockville, MD
Click here for details.

December 9, 2010 - 7 Hour USPAP, Rockville, MD
Click here for details.

December 10, 2010 - Business Practices & Ethics, Rockville, MD
Click here for details.

Welcome New Members

Michael Sean Cantwell

Want to Boost Your Income? Become a Designated Member!

A statistically significant higher proportion of designated members earn more than $100,000 per year compared to associate members and nonmember appraisers. Click here for a salary comparison.

 

Click here to see how you can move from "Associate" to "Designated."

Job Openings

Commercial appraisers … we always have work, top fees, health, 401K ... from the simple to complex, we need you. Please send resume to here. All inquiries are kept confidential.

 

 

In This Issue

Appraisal in the News - Fact or Fiction
Supporting Capitalization Rates - May 24
Real Estate Construction Cost Update - June 9
Expand Your Professional Network - Join an AI Community
New Members

Want to Boost Your Income? Become a Designated Member!
Job Openings

Appraisal in the News - Fact or Fiction

"I nearly lost my lunch" noted an AIDC member after reading Kenneth Harney's article in the Washington Post Saturday Real Estate section titled Despite 2009 restrictions, mortgage and appraisal fraud spiked (click here to read). "Appraisal" has shown up in the news quite frequently over the last year, often in an very unflattering light (See Members Speak Out in the December 8 issue of AIDC's newsletter).

 

For appraisal insiders, the misinformation often included in such articles really grates and because of the perceived crediblity of the source, such articles often spawn or perpetuate misperceptions among appraisal customers. While it may require some effort and won't necessariy produce a correction or retraction, responding to such articles as Linda Braley did will improve the likelihood that the next article will include fewer mis-statements.

Today's news organizations also incorporate social media tools allowing readers to respond immediately by commenting on articles (click here to see comments on the Harney piece).


Ben Franklin's oft-quoted statement "We must all hang together, or we will surely hang separately" rings as true today as it did then. The more of us who take the time to tell our side of the story, the more likely we will be heard. Don't just sit there; complain loudly and often!

 

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Supporting Capitalization Rates - May 24

You use capitalization rates in nearly every commercial appraisal, yet do you still wrestle with developing a cap rate and then encounter criticism? If you need to improve your ability to select and defend cap rates, this seminar is for you.

Departing from an emphasis on theory and mathematics, Supporting Capitalization Rates focuses on practical ways to incorporate judgment and market experience into the rate selection process. You’ll learn to apply what you have learned about capitalization rates to real-world situations. In fact, the theme of this seminar is that a well-supported capitalization rate takes into account market activity, is tested for reasonableness, and demonstrates the appraiser’s consideration of the relevant factors that affect the property.

Working with case studies, you will develop well-supported, market-extracted capitalization rates reflecting specific economic and property characteristics. You’ll learn to identify the strengths, weaknesses, and data requirements of various methods to help you select the most appropriate method for any given appraisal problem.

Click here for details and registration.

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Regional Construction Cost Update Coming in June

Wednesday, June 9, 2010
Crowne Plaza Tysons Corner
1960 Chain Bridge Rd. * McLean, VA 22102

Join the DC Metro Area Chapter of the Appraisal Institute for an update on construction costs and trends in the Metro DC area. Deanna Andre will give an overview of the Marshall Valuation cost service including how to use the cost guide, how the data is assembled and reported and any recently developed applications available in addition to the hard copy (handbook).  She will be followed by four local builder/contractors who will discuss the construction market for their sector (commercial, institutional, residential, land development).

Discussion points will include:

  • recent direction in costs for both materials and labor and projections for the future
  • costs to comply with local, state and federal regulations
  • permit and utility connection fees
  • typical proffers and concessions
  • differences between jurisdictions
  • entrepreneurial profit expectations
  • “rules of thumb” for estimating indirect (soft) costs, site work and hard costs for construction of certain building types and
  • green buildings (sustainable design) and where construction is heading in the future

Don't miss this unique opportunity to hear from these key players, meet appraisal professionals from all around the region and enjoy a great meal!

Panelists:
Deanna Andre – Director of Sales, Real Estate, Marshall & Swift - Construction Cost Guide
John Martin  - Vice President, L.F. Jennings – Commercial Contractor
Scott Long – President, Scott Long Construction - Institutional and Commercial Contractor
TBD - Residential Builder
TBD - Residential Land Developer

Schedule:
4pm: Registration opens
4:30 – 6:30pm: Presentations
6:30 – 8:30pm: Dinner (no additional charge) & Networking

Registration Fees (includes Dinner):
Members: $40 until June 4; $50 thereafter
Non-Members: $60 until June 4; $70 thereafter

Seating is Limited - Click here to register today and Save!

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.

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Expand Your Professional Network - Join an AI Community

The AI Communities of Practice is a new member benefit available to all Appraisal Institute members. The AI Communities serve as a convenient, online meeting place for AI members with shared interests. As long as you have Internet access, you can login from any computer and:

  • Exchange news and share information with your colleagues.
  • Check the AI Communities' calendar to stay abreast of upcoming events.
  • Participate in online discussion boards.
  • Suggest a poll to your community facilitator.
  • Chat online – in real time – with other members of your Community!

Click here to get started.

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