Happy New Year!
A Message from the President

Here we are at the beginning of a new year! Last year we experienced many highs, including a new slate of business enrichment workshops and reclaimation of some local NSREA Chapters as well as lows with the loss of several of our valued, dearly missed members. It is experiences such as these that call for reflection. When I think of the passing of our fellow members I consider legacy. What is it that we are doing to honor the memory of those who have gone before us?

Are we extending the same helping hand to those prospective and neophte appraisers as we received from those who gave us a hand up? In this age of technology advancements, business model changes and information overload we have an obligation to pay it forward. Also as we look at our aging appraiser demographic we should have significant motivation to reach out to this younger generation.

Let us take part in the age old tradition of committing to a New Year's Resolution. Let us resolve to come together as a body with the mission of paying it forward by offering our veteran skills and experience to this new generation of valuators by providing them the opportunity to join an organization of capable, enthusiastic mentors.

I hope that you enjoyed celebrating the holiday with your family and friends and I urge you to celebrate the prospect of a 2019 filled with possibility and purpose!
What's Inside?

  • Raising the Standard of the Profession and Building Consumer Confidence

  • Crossing the Line? What to do When Sales Meets Appraisal.

  • Paying it Forward: Are You Helping the Future of the Industry?

  • Clarity on Requests for Reconsiderations

  • The Five Stages of Receiving a Certified Letter

  • Potential Recipe for Disaster: Proposal Announced to Increase Appraisal Threshold

  • Organize Your Vehicle, Streamline Your Appraisal

  • Inspections and Hybrid Appraisal Assignments

  • Rural Appraising

  • The Healthbeat

  • Reminder: 2019 Membership Dues
ANSI: Raising the Standard of the Profession and Building Consumer Confidence

Advancements in technology have made access to information regarding real estate listings more readily available for consumers. With such accessibility national standards are sure to follow. National standards not only for how these listings are presented on these platforms but also for the information in the listing themselves. Specifically, standards for accurately measuring houses.

The American National Standards Institute (ANSI) has developed such a standard through a process of consensus among the American Institute of Architects, the Appraisal Foundation, the Building Owners and Managers Association, the Manufactured Housing Institute, the National Association of Realtors, Fannie Mae, Freddie Mac, HUD and others. While not law implementation of such standards affords the consumer confidence and lends a higher level of professionalism to the industry as a whole.

Click here to read details on how to implement the ANSI standards of measurement and counting rooms.
Crossing the Line? What to Do When Sales Meets Appraisal

Often times real estate appraisers wear many hats. Commonly, appraisers are also licensed as real estate sales agents and can find themselves in situations where they are unsure of whether or not they are violating USPAP by soliciting sales services.

Have you ever found yourself in a dual-license quandary? Click here to read Joshua Walitt's, Compliance Manager for Property Interlink, piece regarding listing solicitation during an appraisal and how to determine if one is USPAP complaint.
Paying it Forward: Are You Helping the Future of the Industry?

It is no secret that the appraisal industry is greying, but why exactly? Of course, there are a multitude of factors to consider but have you considered what your role as a veteran appraiser might be? Have you considered what resources or lack thereof are available to prospective appraisers? How do you stand to benefit as one who takes on a mentoring relationship with prospective appraisers?

In addition to being able to pay forward all the valuable advice and guidance you have no doubt received along your appraisal journey, you will also be able to remain sharp and up-to-date on all industry standards by constantly engaging with the material. It is quite easy to find oneself stuck in old appraisal habits or even isolated from the rest of the industry when you are not forced to consult USPAP and other guidelines on a regular basis.

Click here to read more in this Appraisal Buzz featured interview with appraisal training program expert, Michael Brocker-Quiero.
Clarity on Requests for Reconsiderations

At some point during your career as an appraiser you are sure to receive a request for reconsideration of your appraisal report. During The Appraisal Foundation's Valuation Roundtable this very topic was discussed at length and as a result a white paper was developed to further clarify requests for reconsideration and discuss ways to minimize the stress and confusion that often accompanies such requests.

The goal of this paper is "to provide information to assist appraisers, users of appraisal services, and others, with a greater awareness and understanding of issues surrounding the reconsideration process and offer some suggestions for those who wish to build a more relationship-driven and consistent method".

Click here to read the full White Paper on the topic of Requests for Reconsideration.
The Five Stages of Receiving a Certified Letter

If you have ever been on the receiving end of a certified letter you have no doubt experienced a wave of unpleasant emotions. What exactly should you do? How is one to respond rationally when being turned into the state?

Hal Humphreys of Appraisal eLearning has some valuable advice to keep you level-headed during the process:

  • Talk to an attorney.
  • Hire an appraiser advocate
  • Get your workfile in order.
  • Once you have the workfile organized, take a half day to review your report—the one in question.
  • If you made a mistake, own it. Just go ahead and get that out of the way.
  • Take your appraiser advocate’s notes and craft a reply.
  • Get ready for a hearing, if you’re called.
  • If you go to a hearing, dress professionally.

Click here to read Humphrey's Working RE feature, Kübler-Ross and the Certified Letter .
P otential Recipe for Disaster: Proposal Announced to Increase Appraisal Threshold

In this environment of increasing requests for appraisal waivers it may come as no surprise that the current administration, specifically, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation recently announced a proposal to increase the threshold above which an appraisal is not required from the current $250,000 to $400,000 for residential mortgage transactions.

Click below for the FDIC press release and articles from the Chicago Tribune and Realtor Magazine discussing the proposal and its potential impact.

It is the opinion of The Appraisal Foundation that given the new Democratic majority in the U.S. House of Representatives, the issue will likely be the subject of a hearing of the House Financial Services Committee after the first of the year. The presumptive incoming Committee Chair, Maxine Waters, is a proponent of appraisals from the consumer protection perspective. At an appraisal oversight hearing in 2016 she stressed the importance of an appraisal with an interior inspection to protect home purchasers.
Please note that there is a 60-day comment period regarding this proposed increase in the threshold.
Organize Your Vehicle, Streamline Your Appraisal

There is no better time than the horizon of the New Year to consider organizing your space and specifically for appraisers, your car! Could organizing your vehicle help to streamline your appraisal?

Click here to read The Appraisal Coach's piece on how helpful an organized appraisal vehicle can be to your business!
Inspections and Hybrid Appraisal Assignments

Click here to view this Appraisal Standards Board Q&A video and learn answers to questions on Inspections and Hybrid Appraisal Assignments. Questions covered include:

  • Can I Perform an Appraisal if the Property Inspection was done by Someone Else?

  • Does USPAP Require Disclosure of Assistance by a Non-Appraiser?

  • Employing an Extraordinary Assumption when a Client Provides Inspection Data
Rural Appraising

Fannie Mae's December 2018 Newsletter is focused on appraising properties in rural areas. Click here to check out the compilation of rural appraising reminders and helpful tips to help with appraisals of rural properties.
New Year, New You: Best Resolutions for your Health in 2019

Well here we are again at the end of another year, which means we stand on the precipice of a fresh new year. As is tradition, many take this opportunity to resolve to improve in the New Year, for many of us paramount among our resolutions is building better habits for health.

Click here to check out Forbes contributor, Frances Bridges' feature on simple yet effective resolutions you can keep.
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NAREB Mid-Winter Conference
Date: February 20-23rd, 2019
Location: Miami Marriot Biscayne Bay
1633 N. Bayshore Dr.
Miami, FL 33132
Click here for more information.
AQB Public Meeting
Date: Friday, May 3rd, 2019
Time: 9:00 AM - 12:00 PM
Location: Grand Hyatt Denver
1750 Welton Street
Denver, CO 80202
Click here for more information.