Scholarship Opportunities, CREXI Demo, and More!
In this issue:
- Don’t Miss It! Q2 Pathways to Success Scholarship: The Appraisal Foundation funds 100% of enrollment costs for any AQB-approved PAREA program
- CREXI Demonstration: Explore the full benefits of an Intelligence subscription on June 18
- GSE Announcements: UAD 3.6, Forms, Square Footage Measurement
Don't Miss
Applications for Q2 Pathways to Success Scholarship Open Through June 15th
The Appraisal Foundation Pathways to Success Scholarship, funded by The Appraisal Foundation, covers 100% of enrollment costs for any AQB-approved PAREA program, including the Appraisal Institute’s Licensed Residential PAREA Program. This scholarship is designed to support aspiring appraisers who have completed the prerequisite education in their state where PAREA is approved.
Applicants must first complete the PAREA readiness checklist to confirm eligibility for the Scholarship. Click here to start your readiness checklist.
The application for the Pathways to Success Scholarship is available here.
New On-Demand Course: Appraising Restaurants
Advance your skills in a growing specialty with the Appraisal Institute’s newest 7-hour, on-demand course. Appraising Restaurants is designed for appraisers experienced in commercial real estate who want to deepen their understanding of the unique challenges in valuing restaurant properties. Through real-world case studies and practical examples, you’ll explore how business operations, location, and market conditions affect valuation.
You’ll gain the tools to assess restaurant sites, understand transaction scenarios, apply appropriate valuation techniques, and analyze market trends. Whether you’re working with investors, lenders, or owners, this course will strengthen your expertise and expand your service offerings.
GSEs Announce Major Changes to UAD 3.6, Forms, Square Footage Measurement
Fannie Mae and Freddie Mac have both announced major updates to their appraisal policies, aligning around the rollout of the Uniform Appraisal Dataset (UAD) 3.6 and a redesigned Uniform Residential Appraisal Report (URAR). These changes eliminate legacy appraisal forms in favor of a dynamic, standardized report applicable across property types and valuation methods. Key updates include adoption of ANSI Z765-2021 measurement standards (moving away from Gross Living Area), revised condition and quality ratings, and new reporting tools such as the Restricted Appraisal Update and Completion Report. Fannie Mae also modified lender quality control requirements to enhance consistency and oversight. The updates take effect in stages beginning September 8, 2025, with full adoption required by November 2, 2026. See Fannie Mae Selling Guide Announcement, the UAD/Forms Redesign page, and the URAR Training Resources from the Appraisal Institute.
Insights
Behind the Numbers: Appraisers Help Drive Billions in Savings in Federal Real Estate
The federal government’s latest real estate reform strategy underscores a quiet but vital truth: appraisal expertise is protecting taxpayer interests.
In its Second Round Report on Recommendations Pursuant to the Federal Assets Sale and Transfer Act of 2016, released in May, the Public Buildings Reform Board (PBRB) recommends consolidating or disposing of 11 federal properties across the country. While the headlines focus on projected savings of over $52 million annually and a 30-year net present value exceeding $5.4 billion, the foundation of these calculations is solid valuation data—most notably, disposition value, a figure frequently developed by professional appraisers.
Disposition value plays a critical role in public asset planning by estimating the likely sale price of a property under market conditions, assuming typical exposure time and reasonable marketing. It helps federal decision-makers assess not just cost savings but revenue potential and timing—informing when and how properties should be released from public inventory.
Although appraisers rarely appear on center stage in federal policy reports, their work underpins key decisions—offering grounded insight into fair market value, highest and best use, and long-term asset performance. These inputs ensure that disposal and consolidation efforts are both defensible and financially sound.
Among the properties recommended for action: prominent office assets in Washington, D.C., Boston, Chicago, and Miami, as well as leased facilities in Houston and Albuquerque. Each recommendation reflects detailed financial analysis informed by valuation professionals working behind the scenes.
As the PBRB prepares a third round of recommendations, the role of appraisers remains critical. Their expertise ensures that public real estate decisions are made with integrity, accuracy, and fiscal accountability—safeguarding the public trust in every square foot.
Your Benefits
Crexi Intelligence is the most innovative research and analytics software designed for the CRE industry. Join an exclusive webinar on June 18 at 1PM CT for Appraisal Institute members to explore the full benefits of an Intelligence subscription including:
- Comprehensive Sales & Lease Comparables: Access 84M sales comps and 1.5M lease data points nationwide with exclusive marketplace transaction details that go beyond public records. This includes comprehensive property data on 150+ million properties with transaction history, featuring 46M+ broker-reported and county-verified sales comps.
- Enhanced Financing Analysis: Leverage mortgage history on 8M+ properties with detailed loan information, including private loan data with maturity dates and properties in pre-foreclosure from county and third-party partnerships, to better understand market dynamics and financing trends.
- Streamlined Report Generation: Create dynamic, nationwide market reports and access leasing data, history, and trends across key markets for any property type, saving significant research time while strengthening the quality of your deliverables.
- Historical Market Intelligence: Access data on every parcel in the nation, including transaction history and owner information, plus demographic data covering population, income, traffic counts, and more for comprehensive time-series analyses and market trend evaluations.
Be Featured in AI Marketing!
We’re thrilled that so many members have submitted photos and videos of chapter events, appraisals, and volunteering in their communities! Keep them coming!
If you have photos or videos from recent events, behind-the-scenes moments within your teams, or an on-site experience at an appraisal you'd like to share, please send them our way. Your content will help us authentically showcase our members and what you are doing!
To submit, simply click here to upload photos and videos. We'll make sure to provide content credit to you as well. Thanks for sharing your moments –— we can't wait to spotlight the AI community!
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Sign up for our next free webinar
Environmental Risk Updates for Appraisers
June 26 | 12:00 p.m. ET
Environmental and sustainability issues are playing a growing role in real estate valuation and risk analysis. This timely webinar will provide appraisers with essential updates on a range of emerging environmental risk topics, including:
- ESG (Environmental, Social, Governance) considerations for appraisers
- Resiliency and sustainability measures in real estate
- Evolving practices in Phase I and Phase II Environmental Site Assessments (ESAs)
- Integration of appraisal and environmental functions within financial institutions and advisory firms
Learn how these trends are shaping due diligence, valuation reporting, and client expectations. This session will help you navigate shifting standards and strengthen your risk awareness.
Panelists:
- Justin Slack, MAI, SRA, AI-GRS, AI-RRS, Chief Appraiser and Environmental Risk Manager, WaFd Bank
- Derek Ezovski, President, Outsourced Risk Management Solutions (ORMS)
Advocacy Updates
Spotlight: Appraisal Foundation Launches State Harmonization Task Force
- The Appraisal Foundation has launched a State Harmonization Task Force to address inconsistencies in real estate appraiser licensing and certification across the U.S.—a growing concern among regulators and stakeholders. A patchwork of state-level rules has created barriers to entry, limited professional mobility, and added confusion to the licensure process.
- The Task Force includes representatives from state agencies, professional organizations, and subject matter experts. Its goal is to recommend ways to better align state practices with the Real Property Appraiser Qualification Criteria (AQB Criteria) while respecting states’ authority to exceed national minimums.
Key priorities include:
- Experience Requirements: Clarifying how experience hours are documented and evaluated—including mass appraisal.
- Reciprocity and Mobility: Streamlining license recognition across state lines.
- Background Screening: Reviewing “good moral character” provisions and their impact.
- Licensure Pathways: Promoting acceptance of modern training programs like PAREA across jurisdictions.
- The aim is not uniformity for its own sake, but greater alignment where it benefits the public, the profession, and state regulators. Stakeholders are encouraged to stay engaged as the Task Force develops its recommendations. Learn more and share input at www.appraisalfoundation.org.
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.
Your Community
2025 Award Nominations
The Appraisal Institute would like to recognize some of the brightest, most committed, and deserving AI members. If you believe you know an AI member who fits the criteria listed at the link below for the J. Scott Robinson Lifetime Achievement Award, Outstanding Service Award, William S. Harps DEI Award, or the Women’s Initiative SPOTLIGHT Award, we welcome your nomination by the July 31 deadline.
Y.T. and Louise Lee Lum Award
The Appraisal Institute Education and Relief Foundation (AIERF) is seeking nominations from AI members for the Y.T. and Louise Lee Lum Award.
The Y.T. and Louise Lee Lum Award recognizes one or more worthy individuals who have made a distinguished contribution to the appraisal profession during the immediately preceding year. The Y.T. and Louise Lee Lum Award is open to both Appraisal Institute members as well as those who do not belong to the Appraisal Institute. Nominators should provide a letter of recommendation and brief biography of the nominee to aierf@appraisalinsitute.org by July 31. For more information on AIERF and the awards, please visit the AIERF website.
Until next week,
Team Appraisal Institute
