New Appraisal Resources to Kick Off 2025

In this issue:
- New Law: Appraisal Institute-backed legislation signed into law.
- January Market Insights: Attend top real estate symposiums featuring industry experts in NY, CA, and NV.
- Professional Courses: Enhance your skills with specialized valuation courses nationwide.
Insights
President Signs into Law Interior Appraiser Licensing Bill
The Accelerating Appraisals and Conservation Efforts Act (AACE) Act (HR 5443/S. 3079) was signed into law by President Biden on January 4, 2025 after passing the Senate on December 18, 2024. The AACE Act intends to increase the pool of appraisers available to the U.S. Department of the Interior (DOI), allowing appraisers who carry a certified general credential in one state to perform appraisals in any other state if the services fall under the DOI’s authority. The new law also requires the DOI to first look within the state where the appraisal or valuation is needed before looking at appraisers from other states. During testimony before a House oversight committee in January 2024, Appraisal Institute President Sandra K. Adomatis, SRA, highlighted the importance of first looking to the expertise of local appraisers for DOI assignments.
Other federal lands agencies, such as the U.S. Forest Service, will likely look closely at the new law as a potential model for enhancing appraiser contracting.
Fannie Mae Releases Multifamily Appraisal, Dataset Requirements
Starting January 28, 2025, lenders selling multifamily loans to Fannie Mae must include structured data sets in all appraisals using the Appraisal Data Set (Form 4827.A). The Appraisal Data Set is a standardized request for appraisal data to be included in multifamily appraisals sold to Fannie Mae. The Appraisal Data Set is generally consistent with the MISMO Commercial Appraisal Dataset Standard developed several years ago with recommendations from the Appraisal Institute and other stakeholder organizations. The Appraisal Data Set is an addendum to Fannie Mae’s “Instructions for Appraisers,” or Form 4827, which outlines general appraisal requirements, property specific considerations and detailed instructions to promote consistent valuations.
New Valuation Issue!
We’re excited to share the latest issue of our magazine, continuing to elevate member voices, share actionable insights, and inspire your business growth.
This quarter’s focus: adapting through lifelong learning and action. Highlights include:
- Guest Editorial: Adam Johnston, SRA, AI-RRS, on uplifting SRA Designated Members and inviting more residential appraisers to join the AI community.
- Cover Story: Lissa E. Brutus, CEO of Luxeon Technologies LLC, shares her journey, the role of technology, and attracting new talent to appraisal.
- Feature Articles: Joshua W. Wood IV, JD, MAI, AI-GRS, explores AI in standards of care, while "The Ins and Outs of the ‘Project Cloud’" examines public infrastructure’s impact on eminent domain.
With member spotlights, practical tips, and the latest updates, this issue is packed with insights. We’d love your feedback as we continue to improve!
Your Benefits
This Week’s Featured Benefit: The Appraisal Journal
Winner of a Gold Circle Award from The Center for Association Leadership (ASAE), The Appraisal Journal is recognized as the appraisal profession's premier academic publication. Over 16,000 appraisers and others rely on the Journal for well-researched, innovative and thought-provoking articles that help them thrive in their practice and advance the profession.
Four quarterly issues are written by leading practitioners on topics ranging from how recessions impact the real estate market, to housing prices for foreign buyers, to special issues in land valuation, and so much more.
Trending Topics Thursdays: Sign up for our next free webinar
Fine Print of Appraisals: Decoding extraordinary assumptions, hypothetical conditions, and jurisdictional exceptions
January 16, 2025
12-1pm EST
Using mini case studies, our panelists are ready to help you finally get clarity on whether you are correctly using extraordinary assumptions, hypothetical conditions, and jurisdictional exceptions. What is meant by a “reasonable basis” in the definition of an extraordinary assumption? When is it appropriate to list something as a jurisdictional exception?
Along with answering your questions, our panelists will explore the implications, disclosures, and limitations associated with these assignment conditions, so that you can better understand the usage of these modifiers and ensure your appraisals are valid, reliable, and defensible in a legal or regulatory context.
Featuring Mark V. Smeltzer, Sr., MAI, SRA, AI-GRS, AI-RRS, MBS; Michelle Czekalski Bradley, SRA; and Tim Hansen, RPRA
Real Estate Horizons
Stay updated and check out links to the latest major real estate industry stories!
More Opportunities to Learn
Search the latest educational offerings! Find National and Chapter-sponsored classroom, synchronous, and online opportunities.
Our Community
Support for Members Affected by the LA Fires: AI Education and Relief Foundation
In the aftermath of recent natural disasters, many members may be grappling with personal or professional challenges. The Appraisal Institute Education and Relief Foundation (AIERF) is here to provide critical support during these difficult times.
The AIERF is dedicated to assisting members who are experiencing financial hardships due to disasters, medical emergencies, or other unforeseen circumstances. Applying for assistance is straightforward and confidential. Members can submit their requests online, detailing their circumstances and the specific support they need. The Foundation’s team works quickly to assess applications and provide timely aid. Beyond financial relief, the AIERF also supports education and career development, ensuring members have the resources to succeed in the profession even during challenging times.
To learn more or apply for assistance, visit the AIERF website. Your AI community stands with you, ready to support and help you move forward.
Until next week,
Team Appraisal Institute