November 13, 2009
Real Estate, Value and Investment Performance
Click here for details.

November 19-20, 2009 - Residential Site Valuation and Cost Approach
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December 2, 2009 -
7-Hour USPAP
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December 3, 2009
Business Practices and Ethics
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Susan Elizabeth Donnelly

Tomika R. Hughey

Mark Daniel Milbrath

November Education Spotlight
Heads-Up re Coming USPAP Changes
AI Forum re RESPA Changes

November 13, 2009 - Real Estate Finance, Value and Investment Performance, Rockville, MD

All appraisers should be knowledgeable about financial markets, financial mathematics and how financial markets impact real estate values. In this hands on seminar, you’ll learn the relationship between debt and investment risk and value. You’ll understand how financial markets impact value and influence buyer behavior and investment decisions. You’ll leave this seminar knowing a new terminology that is important for all real estate appraisers today! 

Click here for details.

November 19-20, 2009 - Real Estate, Value and Investment Performance, Rockville, MD

Designed for participants with introductory experience and understanding of fundamental concepts of appraising, it focuses on the valuation of vacant land parcels and the development of the cost approach. Develop your skills by creating a current cost estimate using market extraction, interview techniques, and information provided by professional cost data sources. An in-depth case study takes you from the origin of the appraisal assignment to a final value estimate using various cost approach applications. By successfully completing the course and exam, you will have met most states’ education requirements in the content area identified as residential site valuation and cost approach.
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Most of the revisions that will become effective on January 1, 2010 involve improving the clarity, understandability and enforceablility of the ETHICS RULE, the COMPETENCY RULE and STANDARD 3: Appraisal Review, Development and Reporting.

Significant changes in the document include:

• A requirement added to the Conduct section of the ETHICS RULE, stating that, prior to accepting an assignment (and if discovered at any time during the assignment), an appraiser must disclose to the client and in the report certification any services regarding the subject property performed by the appraiser within the prior three years, as an appraiser or in any other capacity.
• Clarification in the JURISDICTIONAL EXCEPTION RULE that a jurisdictional exception may only exist if it precludes an appraiser from complying with USPAP.  There are also related revisions that apply to the citation and disclosure of the source of the jurisdictional exception.

Click here for details. Be sure to sign up for our December courses to get all the details (see education calendar above).

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From AIDC board member, Don Boucher, SRA - On October 17, there were a number of posts relating to RESPA changes that are upcoming. Seems some lenders and others are interpreting the new rules and regulations to say some things cannot be changed (including appraisal fees) once they are put in a GFE (which I assume is the good faith estimate). However, Scott Dibiasio of the AI National legal team seems to say an unusual or atypical property that was discovered to be atypical or unusual after the original fee was quoted could be construed a "changed circumstance". So, if you start getting calls wanting fixed fee quotes for all properties I think there is room to discuss this with your client. See the AI Forum discussion for additional details (Click here to sign up if you're not already).

Do you have any news to share? Please let us know! Send an email to info@appraisalinstitutedc.org.

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