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Chapter FYI from AI

Chapter FYI - March 2020

Important Dates & Deadlines

MARCH

10 | Q1 Chapter Executive Directors Meeting
25 | 2020 Annual Conference registration opens. Register here.
27 | Pritchett Award nominations from Chapters/Regions deadline. Learn more.
31 | Q1 Online Revenue Share submission deadline. Learn more

APRIL

 1 | AI Education and Relief Foundation Course Scholarship application deadline. Learn more.
 1 | Release of two programs developed in collaboration with Freddie Mac – 7.5-hour course, Appraisal of Manufactured Homes Featuring Next-Generation Homes and 7-hour seminar, Rural Area Appraisals: Freddie Mac Guidelines and Property Eligibility Requirements
15 | AI Education and Relief Foundation College Scholarship application deadline. Learn more.

MAY

 1 | 2020 Annual Conference early bird registration deadline. Register here.
7-8 | AI Board of Directors 2nd Quarter Meeting, Chicago, IL
18-20 | Leadership Development and Advisory Council (LDAC), Washington, DC

Future Meetings/Events/Etc.

Aug. 2 | Regional Meetings, Orlando, FL
Aug. 3-5 | 2020 Annual Conference, Orlando, FL. Register here.
Aug. 5-6 | AI Board of Directors 3rd Quarter Meeting, Orlando, FL
Sept. 21-22 | Chapter Leadership Program, Cleveland, OH
Nov. 12-13 | AI Board of Directors 4th Quarter Meeting, Chicago, IL

New Announcements

CFMAP Chapters - Reminder of next investment deposit or withdrawal opportunity | The next entry or withdrawal date is April 1, 2020, with notification required by March 23, 2020.  If your chapter wishes to participate in either the Chase Prime Money Market Fund or the Pooled Reserve Portfolio, please send an email to Betsy Kramer at ekramer@appraisalinstitute.org indicating the amount to be invested.  The minimum amount for each fund is $10,000.  Funds equal to the amount to invest must be in the chapter’s Chase bank account as of March 23, 2020 to be able to deposit into either fund.  The Chase Prime Money Market Fund is an option for chapters that prefer to have a stable source of investment income without experiencing market volatility.  As of January 31, 2020 the Money Market Fund’s 7-day yield was 1.37%. Investment income for this fund is not reinvested but rather it is paid to each participating chapter on a monthly basis. The Pooled Reserve Portfolio is invested in line with the AI Investment Policy which is available on the chapter business tools site. The portfolio is structured for long-term return potential and capital preservation.  However, as the portfolio is invested with various managers, the estimated return is dependent on market conditions. And, since it is a pooled portfolio, there is no guaranteed return and thus returns will vary from year to year. The return on the portfolio as of January 31, 2020 is 0.1%. The return on the portfolio for 2019 is 9.5%.
 
CFMAP Chapters -  Helpful tip on the use of the Invoice Description field in Docuware | The Invoice Description field in Docuware is very important.   The information entered in this field appears in the general ledger detail of chapter financial reports, and it also prints in the Description field on the remittance sent to vendors with their payment.  What is entered in Docuware is critical to enable the vendor to properly apply the payment.  When entering this information in Docuware, chapters should make the description concise but meaningful.  The invoice description should include key pieces of information such as:
  1. The type of service
  2. The date of the event or service and
  3. The vendor’s account number, if applicable. 

    For example, “Website monthly maintenance – February 2020”, “February insurance -  Plan# 125406 – Smith”, “Internet service – 01/2020 - Account 419855746”, “Instructor Fees – USPAP 02/13/2020”. 
What does not need to be entered in this field are the vendor name, AI’s vendor ID (this is an internal number that has no meaning to a vendor), the invoice number (this has its own field), the chapter name or words like “invoice” or “vendor”. 
 
Leadership Resource Registry Deadline for Submissions | The 2021 National Leadership Resource Registry is now open for submissions! To be considered for national committees, panels, the Appraisal Institute Insurance Trust, or the Appraisal Institute Education & Relief Foundation, you must express your interests in the Registry by 5:00 pm CT, August 1, 2020.  To access the Registry click here, log-in is required.
 
Even if you submitted your interests last year in the Registry and there are no changes to your preferences, you will need to log back into the Registry. 
 
We thank you in advance for indicating your preferences in the Registry.  We look forward to a strong response, which will help to broaden the base of participation in the organization and serve as a source of new ideas and growth.
 
The deadline for the Leadership Resource Registry is August 1, 2020. 
 
If you have questions or need assistance completing the Registry, please contact Rachael Georges at rgeorges@appraisalinstitute.org.
 
Chapter Representatives on the 2021 Regional Committees | The Chapter President is automatically a member of the Regional Committee. The Chapter also receives one Representative to the Regional Committee for every fifty (50) designated members in good standing who have your Chapter as their primary Chapter. The number of designated members in the Chapter as of January 1 determines how many elected Representatives the Chapter will have in the following year. To identify the number of elected Representatives your Chapter will have on the Regional Committee in 2021 click here. (Add to Chapter Business Tools)
 
2020 Annual Conference | Registration for AI’s 2020 Annual Conference in Orlando, Florida will open on Wednesday, March 25th. The early bird rate for AI Professionals to attend the full conference is $745! This low rate is available through May 1st. The full agenda can be found on AI’s webpage, here.
 
Limited Seats Remain for 2020 LDAC Conference | Registration is still open for the Appraisal Institute's 2020 Leadership Development and Advisory Council conference, which will take place May 18-20 at the Hilton Washington, D.C., National Mall, and a limited number of spots are available. Learn more about the 2020 LDAC conference.

 

Education 

New Education Announcements:

N/A

Classroom Education | Now Available: 

The Cost Approach: Unnecessary or Vital to a Healthy Practice?                                               
NEW! 7-hour seminar for residential appraisers. Premiered December 2019.  Please note. All students must bring a print copy of the seminar to class. A note has been added to the Registration page recommending that students either order the print version OR download and print a copy before coming to class. If students contact you because they are unable to download their files, please refer them to Jeanie Yu (jyu@appraisalinstitute.org) and have them send the following information: time/date of attempted download, PC or Mac, laptop or desktop, browser, snapshot of error message.
 
Valuation Resources for Solar Photovoltaic Systems
NEW! 4-hour seminar for real estate appraisers, lenders, and underwriters. Premiered November 2019. Why offer this seminar? For most appraisers, developing the value of solar is a new frontier. As the demand grows for appraisers who can properly value solar homes, forward-thinking appraisers will have a market edge by being able to differentiate themselves from their peers by serving as a local source of information on solar.
 
Appraisal of Manufactured Homes Featuring Next-Generation Homes                                
NEW/Post-premiere 7.5-hour course, developed in collaboration with Freddie Mac, for residential appraisers and reviewers who are currently working in the secondary market lending space. Will be released to Chapters April 1, 2020. Click here for more information. Please note. Electronic files are huge. Encourage students to order the print version or download materials before they come to class.
 
Rural Area Appraisals: Freddie Mac Guidelines and Property Eligibility Requirements
NEW/Post-premiere 7-hour seminar for residential appraisers and reviewers who are currently working in the secondary market lending space. To be released to Chapters April 1, 2020. Click here for more information. Please note. Electronic files are huge. Encourage students to order the print version or download materials before they come to class
 
Advanced Residential Applications & Case Studies/Part 1
Revised version now available! Learn more here. Please note. A PowerPoint presentation is available for instructors to send to students. The presentation introduces students to the objectives and materials for both this course and Adv. Res Report Writing and Case Studies in the 45-Hour Package.
 
Artificial Intelligence, AVMs, and Blockchain: Implications for Valuation                                              
4-hour seminar for general and residential appraisers. Learn more here!
 
Litigation Appraising: Specialized Topics and Applications
Now 3 days. Released to chapters September 2019. Third of three revised courses in the Litigation Professional Development Program. Click here for more information.
                                                                                                          

Classroom Education | In Development:                                                                                               

USPAP 2020-21
Updates to courses and seminars.
 
Residential Market Analysis and Highest & Best Use
Revisions to Part 6 — tentative release April 2020.
 
Solving the Bifurcated/Hybrid Appraisal and Evaluation Mystery
NEW 7-hour seminar for residential and commercial appraisers has a tentative premiere date of July 2020.
 
Supporting Adjustments: The Nexus Between the Cost, Sales, and Income Approaches
NEW 7-hour seminar for residential appraisers tentatively set to premiere in November 2020.
 
General Report Writing & Case Studies
MAJOR REVISION tentative release 3rd QTR 2021.

Marketing Flyers Available for Chapters

If interested in obtaining the pdf of one or more of the flyers listed below, please contact Mallory Whaley (mwhaley@appraisalinstitute.org). 

  • Appraisal of Manufactured Homes Featuring Next-Generation Homes
  • Rural Area Appraisals: Freddie Mac Guidelines and Property Eligibility Requirements
  • The Cost Approach: Unnecessary or Vital to a Healthy Practice?
  • Valuation Resources for Solar Photovoltaic Systems
  • Artificial Intelligence, AVMs, and Blockchain: Implications for Valuation
  • Litigation Appraising: Specialized Topics and Applications
  • Rural Valuation Basics
  • How Tenants Create or Destroy Value: Leasehold Valuation and its Impact on Value
  • Valuation by Comparison: Analysis and Logic
  • Ignorance Isn’t Bliss: Understanding an Investigation by a State Appraiser Regulatory Board or Agency
  • AIM HIGHER: DID YOU KNOW THE APPRAISAL INSTITUTE PROVIDES MORE THAN QUALITY EDUCATION TO THE VALUATION PROFESSION? (membership recruitment  - click here to view example flyer)
  • Evaluating Commercial Leases: The Tenant and the Terms Both Matter
  • Practical Applications for Appraising Green Commercial Properties
  • Solving Land Valuation Puzzles
  • Advanced Land Valuation: Sound Solutions to Perplexing Problems
  • Valuation of Conservation Easements
  • Uniform Appraisal Standards for Federal Land Acquisitions: Practical Applications
  • Case Studies in Appraising Green Residential Building
  • WANTED: Real Estate Appraisers Who are Experts in Litigation (Litigation education/publications)
  • Do you have the competency needed to value green properties? (Green education/publications - click here to view example flyer)
Designation_Education_and_USPAP
 
capstone_2020
 
For all offerings of the NEW Practical Application in Appraising Green Commercial Properties course, an additional “contact information opt-out” form will be sent to the chapter to be passed around to students during class. Once the form is completed, chapters will need to send the completed form to education@appraisalinstitute.org. The reason for this form and the language that appears on the form is below. If you have questions, please contact Mallory Whaley, mwhaley@appraisalinstitute.org.
 
The materials for the Practical Applications in Appraising Green Commercial Properties course include images provided by CoreLogic/Marshall & Swift products. The Appraisal Institute has agreed to send CoreLogic contact information of attendees who take the course so that CoreLogic can send communications to course participants after the class has ended. If you do NOT want to receive communication from CoreLogic/Marshall & Swift, please check the box before your name. 
 
The "contact Information opt-out" form is also downloadable here.

 

Newly Designated Members
Recognize and congratulate newly Designated Members in your chapter! A list of all individuals who were recently designated is available here.

To welcome the new AI professionals who joined your chapter last month log-in to your Chapter Portal.
  • Select Reports (right-hand side menu bar)
  • AI Chapter Join - Rejoin Report
  • View Report
Volunteer of Distinction Program
Nominate a Volunteer of Distinction | Volunteer of Distinction honorees are recognized on a quarterly basis, i.e. Q1 2020 honorees will be recognized in April. Any Designated Member, Candidate for Designation, Practicing Affiliate or Affiliate in good standing who makes contributions to the Appraisal Institute, the valuation profession and their local community is eligible to be recognized. AI professionals in good standing submit nominations, on a form provided on the Appraisal Institute's website, to AI national staff. Appraisal Institute staff receive and review nominations to confirm that they conform to the program's selection criteria. Individuals may not nominate themselves.
 
All honorees will be promoted on the website, in Appraiser News Online, the President's Message and Chapter FYI. Certificates will be mailed to the honorees and chapter executive directors.

Check out the Nomination Form and Program Description for further details.

 

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