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Chapter FYI from AI

Chapter FYI - August 2020

Important Dates & Deadlines

SEPTEMBER

21 | Chapter and Region 2021 Dues/Fees Entry deadline.
21 | Chapter Leadership Program, Virtual Meeting

OCTOBER

 1 | Candidate for Designation and Practicing Affiliate AIERF Scholarship Application Deadline. Learn more.
19 | Premiere of NEW 7-hour seminar Desktop Appraisals (Bifurcated, Hybrid) and Evaluations in Tampa, FL. Learn more here.

Future Meetings/Events/Etc.

Nov. 12-13 | AI Board of Directors 4th Quarter Meeting, Chicago, IL

New Announcements

2021 Chapter and Region Dues/Fees Entry by September 21st | The web form for chapters (and regions) to enter their 2021 dues/fees amounts will be available beginning the week of August 10th. Chapters will also be notified at this time of the Candidate and Practicing Affiliate funding amount. The web form will be available through September 21st. As a reminder, if no amounts are entered by that time, 2020 dues and fees amounts will be included on the 2021 invoice. There will be no opportunity to enter data after September 21st.
 
CFMAP Chapters and Regions Update of Pooled Reserve Portfolio and Prime Money Market Fund Returns | The 2020 YTD return for the Pooled Portfolio is 0.3% as of June 30, 2020.  Monthly returns for June and May are 1.4% and 2.3%, respectively. During the volatility caused by the Covid-19 pandemic, the portfolio’s conservative positioning minimized the reduction in value compared to the overall market. By end of June, the portfolio regained all of the 2020 contraction in value ending the month showing a year-to-date return of .3%. As of June 30, 2020 the Prime Money Market Fund is yielding .13%. For information regarding the Prime Money Market Fund or Pooled Reserve Portfolio including prior years investment performance, please email finance@appraisalinstitute.org.
 
Blended Virtual Offerings | Chapters have been inquiring about the possibility of offering blended virtual offerings (a program that takes place both in the classroom and via virtual presentation). Because there is not specific guidance from states related to these types of offerings, we cannot guarantee State Certification approval for these programs. Therefore, until states can provide guidance and will allow these to be approved, blended virtual offerings cannot be approved to take place.
 
Virtual Education Fees | As stated in the Interim Virtual Education Policy that was recently approved in June, chapters must pay a $115 processing fee per offering. Some chapters are asking if this fee is in addition to the $115/offering State Certification fee for classroom offerings. Just to be clear, it is not.  There is one $115 fee/offering for Virtual programs, and a separate $115 fee/offering for classroom programs. Chapters will not be double charged for Virtual offerings. We apologize if there was any confusion about these fees.
 
Address Changes | Please remind members to update their addresses with the Appraisal Institute if they move or change firms. USPS does not forward Valuation magazine or The Appraisal Journal to a new address, even if the post office has the new address on file. Members can update their addresses by logging into https://www.appraisalinstitute.org/ and clicking on “My Account” or by emailing the AI Service Center at aiservice@appraisalinstitute.org.
 
New AI Media Coverage Video Available for Chapters' Viewing | A new video covering the media highlights of the Appraisal Institute and its professionals is now available for chapters to show at upcoming meetings.
 
The video notes that, in the first half of 2020, media coverage of the Appraisal Institute and its professionals was potentially seen, read or heard nearly 550 million times, with a publicity value of more than $550 thousand.
 
From January to June, the Appraisal Institute and its professionals appeared in 926 stories that appeared in 338 unique newspapers, magazines, television and radio stations and online media outlets.
 
This coverage generated 568,257,309 impressions, which is defined as the number of times a story may have been seen, read or heard. Coverage resulted in a publicity value of $567,229 (based on a vendor's proprietary formula that approximates how much the coverage is worth).
 
Watch the 5-minute video of the Appraisal Institute's media coverage from the first half of 2020.

 

Education 

New Education Announcements:

  • New Seminar: Desktop Appraisals (Bifurcated, Hybrid) October 2020!
  • New Seminar: Rapid Response: Market Analysis in Volatile Markets
  • New Seminar: Supporting Adjustments: The Nexus Between the Cost, Sales, and Income Approaches
Student credit feature in NetFORUM!
 
The Credits link will appear on the Individuals’ eWeb page only if the individual has available credits on account. It will not be visible to individuals with no credits or credits that have been fully used up.
 
student_credit
 

Classroom Education | Now Available: 

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. Released to Chapters April 1. 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. Released to Chapters April 1. 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.

Classroom Education | In Development:                                                                                             

Rapid Response: Market Analysis in Volatile Markets
NEW 7-hour residential seminar is on a fast-track development schedule. It will review basic concepts, focusing on performing market analysis, and it will remind appraisers how to produce credible results in appraisal to develop opinions of market value. Tentative premiere and release to chapters in October.
 
Appraising Condos, Co-Ops, and PUDs  
MAJOR REWRITE of 7-hour seminar, which premiered in 2013 and is on a fast-track development schedule. It will address many of the mistakes that are made by appraisers when appraising these properties. Tentative debut and release to chapters: October or early November.
                                                                                        
Scope of Work (title TBD)
NEW 7-hour seminar for residential and commercial appraisers. Tentative debut and release to chapters: mid-November.
 
Supporting Adjustments: The Nexus Between the Cost, Sales, and Income Approaches
NEW 7-hour seminar for residential appraisers tentatively set to premiere November 2020.
 
Fundamental Demand Analysis Overview
NEW 4-hour seminar for commercial appraisers tentatively set to premiere February 2021.  
 
General Report Writing & Case Studies
MAJOR REVISION tentative release 3rd QTR 2021. 
 
Appraisal of Real Estate 15th edition updates to courses and seminars.

Classroom Education | COMING SOON:                                                                                             

N/A

On-line Education: Now Available:
 

Upcoming Live, On-line Education

Business Practices and Ethics
(6 hours)
Understand important information about standards and ethics requirements for valuers.
Offering date: August 18, 2020
Learn more or register!
 
7-Hour National USPAP Update Course
(7 hours)
Meet your 2020-2021 USPAP requirement in a virtual classroom setting.
Offering date: August 20, 2020
Learn more or register!
 
Review Case Studies – Residential
(14 hours)
Sharpen your review skills by applying the review process and other concepts to a case study focusing on a two-stage review assignment.
Offering Dates: August 24 – August 27, 2020
Learn more or register!
 
New On-Demand Online Continuing Education
 
Increase your knowledge of green buildings and facilitate the development of credible valuation techniques for use in appraising green properties.
 
Case Studies in Appraising Green Commercial Buildings
(14 hours)
Learn more or register!
 
Case Studies in Appraising Green Residential Buildings
(7 hours)
Learn more or register!

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). 

  • Rapid Response: Market Analysis in Volatile Markets (COMING SOON)
  • Desktop Appraisals (Bifurcated, Hybrid) and Evaluations 
  • 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
 
schedule
 
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. Q3 2020 honorees will be recognized in October. 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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