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2012 Annual Meeting Panel Session Presentations and Handouts

For Educational Purposes Only*
Appraisal Legislative and Regulatory Updates

Appraisal Legislative and Regulatory Updates

This session will provide an overview and updates on federal and state legislative and regulatory proposals impacting both commercial and residential real estate appraisers. On the federal level, this session will address the status of several bills pending in Congress that directly relate to bank reappraisal assignments, the Obama administration’s refinance plan and implementation of the Dodd-Frank Act. The session also will provide an overview of initiatives from the Financial Accounting Standards Board and the International Accounting Standards Board that could provide significant opportunities for appraisers. At the state level, the session will provide an overview of the 2012 state legislative cycle, including updates on appraisal management company registration legislation for mandatory licensing and preferences for professionally credentialed appraisers.


Bill Garber, director of government and external relations, Appraisal Institute
Scott DiBiasio, manager of state and industry affairs, Appraisal Institute

Download the presentation: Appraisal Legislative and Regulatory Updates

Automated Valuation Models: Overview of the Mechanics of an AVM and How to Interpret the Results

This session is designed to introduce appraisers to automated valuation models, explain how appraisers can utilize AVMs to enhance their portfolio of services and provide examples of AVM output.

Alan Hummel, SRA, senior vice president and chief appraiser, Forsythe Appraisals, LLC
Mark Linné, MAI, SRA, CRE, CRE, FRICS, chief strategist and valuation officer, Bradford Technologies, Inc. / AppraisalWorld, Inc.
Lee Kennedy, managing director, AVM Metrics, LLC

Download the presentation: Automated Valuation Models: Overview of the Mechanics of an AVM and How to Interpret the Results:
Part 1 | Part 2 | Part 3

Common Problems in Valuation for Internal Revenue Service

An overview of current issues that the IRS is dealing with when working with appraisers. The program will deal with topics including explanation of adjustments, report quality, issues with donation valuations, and other timely topics.

Robert Dietrich, MAI, CCIM, MRICS, director, Valuation & Financial Risk Management, Navigant
Frank Molinari, SRA, senior appraiser, Internal Revenue Service
Ron Cerruti, territory manager, Internal Revenue Service
Lou Garone, MAI, SRA, senior appraiser
Eric Garfield, MAI, director, WTAS
Steve Whittaker, national director, Internal Revenue Service

Download the presentation: Common Problems in Valuation for Internal Revenue Service

Cracking the Code on Green Building Rating Systems

Succeeding in today’s increasingly competitive environment involves staying on top of new technologies and evolving trends, including the growing green building market. Join our panelists for this practice-focused session on how to decipher residential and commercial sustainability ratings and energy scores, and find out what questions to ask, where to look for answers, what to avoid — and most importantly — the ways in which this information influences potential value impacts and how it can be quantified.

Timothy P. Runde, MAI, LEED AP, partner, Carneghi-Blum & Partners, Inc.
Tenaya Asan, senior manager, Build It Green

Download the presentation: Cracking the Code on Green Building Rating Systems

The Quiet Giant: Explaining the Stability of Europe's Largest Real Estate Market

How has the German property market fared so well through the global economic crisis? This panel will explore commercial real estate finance and the fundamentals of valuation for real estate lending purposes in Germany. Discussion topics will include covered bond financing, mortgage lending valuation, valuer certification and regulatory framework, including Basel Accords. The panel also will examine how — or if — the German experience applies to current and future capital market requirements in the U.S., including Basel Accords and the U.S. Covered Bond Act.

Stephen D. Roach, MAI, SRA, president, CFO, Jones, Roach & Caringella, Inc.; chair, International Relations Committee
Wolfgang Kälberer, head of Brussels Office, Association of German Pfandbrief Banks
Reiner Lux; president, CEO, HypZert GmbH
Wayne A. Nygard, MAI, FRICS, principal, NeuBridge LLC; member, International Relations Committee

Download the handout: The Quiet Giant: Explaining the Stability of Europe's Largest Real Estate Market

Common Errors and Misconceptions in Yellow Book Assignments

This workshop will deal with common errors that occur in appraisal assignments prepared under the Uniform Appraisal Standards for Federal Land Acquisitions, known as the Yellow Book. Most appraisals prepared for the federal government and many appraisals for clients that involve federal funding must comply with Yellow Book standards. This program will provide guidance beyond what’s covered in a basic UASFLA seminar, and discuss misconceptions about the Yellow Book and address deficiencies, errors and fatal flaws found in Yellow Book appraisals. The discussion also contrasts Yellow Book requirements with those of the Uniform Standards of Professional Appraisal Practice.

Eric Paul Griffin, MAI, review appraiser, Office of Valuation Services, U.S. Department of the Interior

Download the presentation: Common Errors and Misconceptions in Yellow Book Assignments

Effective Collateral Risk Management

The appraisal industry is experiencing “Scope Creep” — a continual layering of requirements that were put in place to help mitigate historic losses in the mortgage market. These requirements are bundled with expanded service level requirements calling for compressed delivery times, which can make it difficult for appraisers to function in an efficient manner. This panel will examine the current situation and work toward ideas for improvement.

Leland Trice, principal, The Trice Group
Danny Wiley, vp, staff appraiser manager, LSI
Rick Foos, president, Foos & Associates
Ernie Durbin, director of valuation technologies, Valuation Vision
Robert Murphy, director, Property Valuation & Eligibility, Single-Family Credit Policy, Fannie Mae
Mark Liley, chief appraiser, Flagstar

Download the presentation: Effective Collateral Risk Management

Residential Nightmares: A Complex Residential Litigation Case Studies Workshop

Participants will learn valuable tools for solving complex appraisal problems, including techniques for presenting and defending appraisal conclusions and opinions. These advanced residential valuation techniques will be illustrated with three case studies:

  1. A construction defects case involving a house built on a dumpsite
  2. A title insurance claim for an island home with a disappearing boat dock
  3. A “simple” eminent domain easement purchase with surprises galore

Sandra K. Adomatis, SRA, owner, Adomatis Appraisal Service
Joni L. Herndon, SRA, owner, Real Property Analysts/Gulf Coast
Shawn Wilson, MAI, owner, Compass Real Estate Consulting, Inc.

Download the presentation: Residential Nightmares: A Complex Residential Litigation Case Studies Workshop

Advanced Statistical Methods in Real Estate Appraisal

Appraisal literature has recently focused a significant amount of attention to hedonic modeling, survey research, expert systems, meta-analysis and other advanced techniques that many appraisers run into during review assignments, litigation or consulting projects. This workshop will provide an overview of these techniques, discuss their usefulness in certain assignments and provide examples on how appraisers can implement them. Attention will be paid to compliance with Uniform Standards of Professional Appraisal Practice and the Code of Professional Ethics and Standards of Professional Appraisal Practice, as well as other supplemental standards.

John A. Kilpatrick, Ph.D., MAI, FRICS, CEO, Greenfield Advisors LLC
Richard J. Roddweig, MAI, Clarioin Associates, Inc.

Download the presentation: Advanced Statistical Methods in Real Estate Appraisal
Part 1 | Part 2 | Part 3

Going Concern Issues in Hospitality Valuation

Recent changes to Small Business Administration policies require appraisers to allocate values among real property, personal property and business/intangible assets and to have passed an Appraisal Institute course or carry a business valuation designation to perform certain going concern appraisals. The Interagency Appraisal and Evaluation Guidelines and real estate lending regulations also require an appraisal of the market value of the real estate, further affirming the importance of allocation. This session will focus specifically on hospitality properties and will serve as a complement to and a framework for the Appraisal Institute’s “Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets” course. Participants will be asked to present case studies and to share their valuation techniques for hospitality assignments in order to better understand how to identify potential going concerns and the methodologies for estimating the value for going concerns.

Scott Biethan, MAI, CB Richard Ellis
Eric Hector, MAI, Keystone Consulting
Kerry Jorgensen, MAI president, Jorgensen Appraisal, Inc.
Arthur Neudek, MAI, National Valuation Consultants

Download the presentation: Going Concern Issues in Hospitality Valuation
Part 1 | Part 2 | Part 3

Transportation Oriented Development: A Return to Mixed-Use Communities

Real estate developments that focus on sustainability also are putting a greater emphasis on public transportation, which has resulted in more high-density mixed-use communities with convenient access to mass transit. Speakers will discuss how transit systems, such as Denver’s $7.8 billion FasTracks project and construction of the city’s new $488 million Union Station hub, can affect site and building design, “place making,” parking, zoning/entitlements, real estate finance, public/private partnerships and transportation demand management.

Laura Aldrete, AICP, senior supervising planner — PlaceMaking group, Parsons Brinckerhoff
Tim Baldwin, AICP, associate, Steer Davies Gleave
Bill James, MAI, president, James Real Estate Services & Director, Regional Transportation District, Denver
Andy Knudtsen, principal, Economic Planning Systems, Inc.
David Tryba, FAIA, lead design principal, Tryba Architects

Download the presentation: Transportation Oriented Development: A Return to Mixed-Use Communities
Part 1 | Part 2 | Part 3

Working with an AMC: Finding Common Ground

This session will focus on regulations affecting the appraisal profession as they pertain to the Dodd-Frank Act and appraisal management companies. Topics will include the AMC structure, operations, review process and responsibility to a client; an independent appraiser’s responsibilities to a client and an AMC; and working with an AMC to handle increased client requirements. The session will offer insight from an appraisal company working with multiple AMCs and discuss how AMCs can help educate, advocate for and improve relations with appraisers.

George K. Demopulos, SRA, president, chief corporate appraiser, Lincoln Appraisal & Settlement Services
Jennifer Schnell, SRA, senior review appraiser, Lincoln Appraisal & Settlement Services
Alan Hummel, SRA, chief appraiser, Forsythe Appraisals
Bill Waltenbaugh, SRA, chief appraiser, Kirchmeyer & Associates
Thomas Kirchmeyer, SRA, president, Kirchmeyer & Associates
Chuck Mureddu, managing director, QVS

Download the presentation: Working with an AMC: Finding Common Ground:
Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6

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General Session

Dylan Taylor, chief executive officer/USA, Colliers International

Serving the world’s third largest commercial real estate firm, Dylan Taylor has complete operational accountability for the nearly 5,000 professionals in the US. In addition to integrating operations across all of Colliers’ services lines and enhancing client engagement strategies, Dylan is also responsible for positioning the firm’s go-to-market strategy, ensuring that Colliers stands apart from its competition through a differentiated client value proposition. Under Dylan’s leadership, Colliers was ranked the number-one brokerage firm in the United States by Commercial Property Executive. Dylan was recently named as one of the top Young Global Leaders by The World Economic Forum in recognition of his professional accomplishments and his commitment to help shape a better global future through personal leadership.

Floyd Robinson, assistant general counsel, FDIC Professional Liability and Financial Crimes Sections

Within the Section, the Professional Liability Unit, Mr. Robinson is responsible for investigating and litigating professional liability claims on behalf of the FDIC as Receiver against directors, officers, and professionals that caused losses to a bank or thrift that later failed. PLU also investigates and pursues fidelity bond claims. The Financial Crimes Unit is responsible for coordinating with and providing support to the U.S. Department of Justice in criminal cases to obtain criminal convictions for banking crimes and to collect criminal restitution and forfeiture orders issued against defendants. Mr. Robinson was in private practice before joining the government in 1989. He holds a J.D. degree cum laude from the University of Texas, where he was a Research Scholar on the Texas Law Review, and he holds a B.A. degree cum laude from the University of the South.

Download the presentation:
FDIC Program for Investigating Bank Failures (Robinson)

Avoiding Common Errors in Commercial Appraisal Reports Prepared for Financial Institutions

This panel will provide insight into a financial institution’s review function; discuss how reports are reviewed; and recommend ways to enhance performance, satisfy clients and provide value-added services.

Download presentations from:

Tom Boyle, MAI, chief appraiser, U.S. Bancorp

Misa A. Zane, MAI, chief appraiser, American Savings Bank

Brian Bailey, CCIM, senior financial policy analyst, Commercial Real Estate, Federal Reserve of Atlanta

James L. Murrett, MAI, SRA, Director of Appraisal Standards & Quality Enhancement Colliers International Valuation and Advisory Services

Distance Education for Appraisers: All Grown Up

Distance education for appraisers is more than 15 years old! This panel will present an overview of current and future education and technology trends, upcoming online programs, regulatory considerations and information on becoming an online education developer and/or instructor. This presentation will be applicable to students, instructors and regulators.

Sandra K. Adomatis, SRA, owner, Adomatis Appraisal Service
Craig Harrington, SRA, president, C. M. Harrington & Associates
Ray Martinez, Ph.D., senior manager, Technology-Based Education, Appraisal Institute
Arlen Mills, MAI, SRA, principal, The Mills Company

Valuation Panels: Challenges and Best Practices

This session will involve appraisers participating in valuation panels where they will be tasked with determining price or value for pending transactions. Controlling documents will define the panel’s operation.

Timothy R. Lowe, MAI, principal, Waronzof Associates, Inc.
Arthur Mazirow, Esq., CRE, Mazirow Real Estate Dispute Resolution
C. William Dahlin Esq., Hart, King & Coldren, APC

Candidate for Designation Program: A Plan to Aspire Higher!

The Candidate for Designation Program will play a critical role in the Appraisal Institute’s exciting transformation into a professional society. A panel of AI volunteer leaders and staff will explore AI’s focus on credentialing its members with the most widely respected designations in the world of real property appraisals. The session will provide interested members, admissions volunteers and chapter and regional staff with updates on the program and its implementation (begins January 1, 2013).

David W. Riach, MAI, SRA; chair, Admissions & Designation Qualifications Committee, Appraisal Institute
Ron DeVries, MAI; chair, Education Committee, Appraisal Institute
Ken P. Wilson, MAI, SRA; vice president, Appraisal Institute
Carrie Vann; senior manager, Admissions & Continuing Education, Appraisal Institute
Richard L. Borges II, MAI, SRA; president-elect, Appraisal Institute

Download the presentation: Candidate for Designation

Interagency Appraisal and Evaluation (IAEG) Workshop

Discussion leaders will focus on issues which have arisen since the implementation of the Interagency Appraisal and Evaluation Guidelines were announced in December 2010. The audience will have an opportunity to provide comment on presented issues as well as introduce other concerns which have surfaced subsequent to the introduction of Interagency Appraisal and Evaluation Guidelines.

Bill Garber, director of government and external relations, Appraisal Institute
Misa Zane, MAI, chief appraiser, American Saving Bank

Download the presentation: Interagency Appraisal and Evaluation Guidelines

The Appraisal Journal: Its Mission, the Review Process and Guidelines for Getting Published

This workshop will offer a behind-the-scenes look at how The Appraisal Journal works, including its mission, review process and annual awards. The panelists will offer guidance on getting published, including explanations on the rationale behind submission acceptance or rejection, and advice on pitfalls that prospective authors should avoid.

Stephen T. Crosson, MAI, SRA; chairman, CEO, Crosson Dannis, Inc.
David Lennhoff, MAI, principal, SC and H Appraisal Services.
Dan Swango, MAI, president, Swango R.E. Counseling and Valuation
George Dell, MAI, SRA, forensic consultant, Real Estate Econometrics
Nancy K. Bannon, managing editor of the Appraisal Journal, Appraisal Institute

Download presentation: the Appraisal Journal



*For Educational Purposes Only

Any session handouts represent the opinions and views of the speaker(s), developer(s) and/or reviewer(s). Although these materials may have been reviewed by members of the Appraisal Institute, the views and opinions expressed herein are not endorsed or approved by the Appraisal Institute as policy unless adopted by the Board of Directors pursuant to the Bylaws of the Appraisal Institute. While substantial care has been taken to provide accurate and current data and information, the Appraisal Institute does not warrant the accuracy or timeliness of the data and information contained herein. Further, any principles and conclusions presented in these handouts are subject to court decisions and to local, state, and federal laws and regulations and any revisions of such laws and regulations.

Any session handouts are presented for educational and informational purposes only with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting, or other professional advice or services. Nothing in these materials is to be construed as the offering of such advice or services. If expert advice or services are required, readers are responsible for obtaining such advice or services from appropriate professionals.

Nondiscrimination Policy

The Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state, and local laws.

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