Appraisers Must Identify the Scope of Work, New Book Says

The scope of work concept is fundamental to appraisal, and its proper application ensures that appraisers can provide various services and maintain flexibility in their assignments, which has become increasingly important in our rapidly changing business environment, according to a book published by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.
Source: Appraisal Institute

Appraisal Organizations Join Forces to Support Training, Ethics to Combat Bias

The Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the Massachusetts Board of Real Estate Appraisers today announced their collective support for the development of additional training that addresses unconscious bias in valuation, and for each organization to individually review its Code of Ethics and other governing documents to further ensure awareness and compliance among its membership and the valuation profession as a
Source: Appraisal Institute

Assembled Workforce an Important Consideration in Property Valuation: The Appraisal Journal

Separating the value of a trained workforce from the overall value of a going concern requires economic analysis, not just the subtraction of employee salaries, according to an article published this week in The Appraisal Journal.
Source: Appraisal Institute

Appraisal Institute Honors 17 National Award Winners

Sandra K. Adomatis, SRA, of Punta Gorda, Florida, was honored Monday with the Appraisal Institute’s Lifetime Achievement Award, and James L. Henderson, SRA, of Lakeland, Florida; Charles R. Mills, MAI, SRA, AI-GRS, of Jeffersonville, Indiana; and César Servando Cantú Martínez, MAI, SRA, AI-GRS, of Monterrey, Mexico, were recognized with the Outstanding Service Award during the Appraisal Institute Awards Ceremony, which took place virtually.
Source: Appraisal Institute

Appraisal Institute Seeks to Expand Diversity, Combat Alleged Bias in Valuation

As our nation continues reflecting on important matters of racial justice, the nation’s largest professional association of real estate appraisers today reiterated its efforts to expand opportunities for aspiring appraisers and help combat alleged bias in valuation.
Source: Appraisal Institute

New Appraisal Institute Textbook Addresses Time-tested Valuation Principles for Today’s World

In the midst of a global pandemic and social justice concerns, the Appraisal Institute today published “The Appraisal of Real Estate,” 15th edition. The textbook long has been recognized as the valuation profession’s most comprehensive source of information for appraisers and other real estate professionals.
Source: Appraisal Institute

Craig Steinley Elected 2021 Appraisal Institute Vice President

Craig Steinley, MAI, SRA, AI-GRS, AI-RRS, of Rapid City, South Dakota, was elected 2021 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors during the Board’s virtual meeting.
Source: Appraisal Institute

Upzoning Can Impact Appraisals, Places Emphasis on Highest and Best Use Analysis: Valuation Magazine

Many cities see upzoning as an effective way to expand affordable housing, but zoning changes can impact appraisals, so appraisers need to analyze the highest and best use of the property and land, according to an article in Valuation magazine’s second quarter 2020 issue.
Source: Appraisal Institute

Appraisal Institute Urges Swift Passage of Appraisal Portal Legislation

The nation’s largest professional association of real estate appraisers this month sent a letter urging swift passage of the Portal for Appraisal Licensing Act of 2020 in the 116th Congress, which would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a portal for appraisal credentialing and AMC registration information, and for other purposes.
Source: Appraisal Institute

Golf Course HOAs Should Carefully Consider Financial Security Options: The Appraisal Journal

Homeowners associations should carefully consider all available methods for maintaining value in golf course communities, according to an article published this week in The Appraisal Journal.
Source: Appraisal Institute