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V o l. 16 • N o. 3
April 2008
WalNut Creek
Nor thern Cali fornia Chapter of the Appraisal Inst i tute
Greg Rinehart, MAI
In This Issue
President, page 2 ➤
East Bay Branch Chapter Workshop, Networking Social & Dinner
Join Us on
Tuesday, April 29
Spenger’s Fish Grotto 1919 4th Street, Berkeley
Workshop Topic:
The Cuomo-Fannie Deal:
What Does it Mean for Appraisers?
Stay informed during this changing market environment
Discover what you can do to keep your appraisal practice viable
Learn what you can do and where to communicate to make a difference
Improve your grasp of current events so you can make informed choices and take effective action
Mario Cuomo, the New York Attorney General, and Fannie Mae/Freddie Mac
recently announced an agreement that could have monumental impacts for the
appraisal industry. One stated goal is to insure appraiser independence, which is something appraisers have been wanting for a long time. But how will this be
achieved? Will mortgage brokers disappear? Will Appraisal Management Companies
proliferate? Will appraisal fees be reduced? This workshop is designed to inform
appraisers about where all this is coming from, what to expect in the future, and what actions to take in this changing and challenging environment.
Presenters include
Nancy Townsend, SRA Townsend Appraisals
Ann O’Rourke, MAI, SRA – Publisher of Appraisal Today Kurt Reitman, MAI, SRA – The Reitman Group – Chair Region 1 Government Relations
– Vice Chair CA Government Relations
Gary Deluca – Vice President, Fremont Bank
Workshop 4:00pm – 6:00pm
Networking Social / Dinner 6:00pm
$35 Members / $45 Nonmembers Advanced registrations required — http://www.norcal-ai.org/event.html
The Home Value Protection Program and Cooperation Agreement: This is Big. And the Industry needs your feedback, now…
A ppraisal Inst i tute ef for ts to promote appraiser independence culminated last month with the announcement of a proposed agreement between
New York Attorney General Andrew Cuomo, the FNMA, Freddie Mac, and the Off ice of Federal Housing Enterprise Oversight (OFHEO). The Appraisal Institute has worked closely with the Attorney General as these agreements were crafted and the proposed arrangements result from our ef for ts to educate regulatory agencies, states, and the federal government of coercive pressures imposed on appraisers. The agreements prohibit many activities which diminish our independence. Brief ly, it establishes a Home Valuation Protection Code of Conduct with protocols for awarding appraisal assignments, compensation, conflicts of interest, and many other aspects of the appraiser / client relationship. In-house control of appraisal management companies is prohibited, and an Independent Valuation Protection Institute (not to be confused with the Appraisal Institute) is set up to mediate complaints.
This is a constructive development, but we must assure that an alternative arrangement to retain appraisers is indeed superior to the previous one. The Appraisal Insti-tute has contacted you to solicit your opinions about the proposed arrangement. There is lit tle time left. Preferably, the Institute would appreciate your feedback now in order to prepare a cohesive proposal to federal regulators by
the April 30, 2008 of f icial comment period deadline.As we prepared for last month’s Chapter Meeting and
newsletter, news of the agreement between FNMA/Cuomo broke. We saw f it to incorporate an introduction of this topic at the last Chapter workshop. We distributed printed copies of all available documentation up to that point. These documents are available in this newsletter as well as for download (in a bulk PDF package) from the Chap-ter’s website http://www.norcal-ai .org/dwnld.html, and on an individual basis on the National AI website. Future Branch Chapter workshops/meetings will also address this important industry defining topic.
The Appraisal Institute national of f ice has provided a special web page including numerous links to draft
documents, comments by various agencies, news organization,
2008 Spring Conference .....3
NEW! Litigation Conference ... 6
Members in the News ......... 7
Residential Matters: FHA .... 8
Let ’s Get Personal ........... 10
Legislative Update ............ 10
News from National .......... 12
Education ......................... 13
Classif ieds ....................... 14
Calendar .......................... 15
2 Newsletter of the Northern California Chapter of the Appraisal Institute Return to page 1
Presidentfrom page 1
President, page 5 ➤
and professional groups at ht tp: //www.appraisalinstitute.org/newsad-vocacy/cuomofanniefreddie.aspx. The national of f ice invites your direct two-way communication on this issue via a comment link, [email protected]. I am also very impressed by the communication of National President, Wayne Pugh, MAI, SRA. He has written to the member-ship on numerous occasions on this and other important issues. You should have also received an email invita-tion to participate in an informative “Webinar” created by National as a comprehensive multi-media presenta-tion of these issues. Plan to tune in to the “Webinar” closely. You can access it at https: //www.livemeeting.com/cc/appraisal/view. Enter your name and recording ID number P9FP4P-1. A recording key is NOT required.
This is a rare and powerful oppor-tunity to shape our industry, and the environment for our services. Address-ing the bulk of appraisal activity, this
arrangement impacts residential and commercial appraisers alike. I urge you to respond to President Pugh’s March 24, 2008, action aler t email.
Positive feedback received so far includes support for measures to reduce appraiser coercion. Concerns raised include demands for greater consideration of existing business relationships, and recognition of professional qualifications, particularly recognition of professional designations. Your comments on this issue are crucial. Please present your comments to [email protected] at your earliest oppor tunity. Commercial appraisers should be aware, this is not solely a residential issue. You too are strongly encouraged to understand and respond
to the action aler t.
If you have read this far, allow me to bring some other topics to your
attention.
Newly Designated
Congratulations again to Brady Barbier for earning his MAI designa-tion. Brady is actively involved in the chapter currently returning to a second term on the Fall Conference Commit-tee. Rumor has it that another new MAI will also be designated shortly.
Associate Dues are Less than $225
Do you know that annual Associate dues have been radically reduced to $295, and that pro-rata dues for 2008 are now under $195? This is key to those of us designated members who have other appraisers working or train-ing under us, as associate members can save up to $100 on most required courses for designation, initial licens-ing/certif ication, as well as licensing/certif ication upgrades. The benefits of membership can add up quickly. Have you invited your fellow apprais-ers to consider membership? It ’s easy. Membership applications are available online http://www.appraisalinstitute.org/membership/join.aspx .
2008 Annual Spring Conference
Our 2008 Annual Spring Conference in Modesto on Wednesday, April
30, wil l include Appraisal Institute President-Elect Jim Amorin, MAI, SRA, and External Affairs Off icer Bill Garber. This is another great local opportunity to discuss the proposed FNMA/Cuomo Code of Conduct agree-ment, as well as many other pressing appraisal-related topics. Spring Confer-ence Chair Steve Castellanos, MAI, SRA, has secured a stellar line-up of presenters. The conference includes 7-hours of CEC, continental breakfast and lunch. A no-host networking social will conclude the event. If you have not yet registered, there is still time to do so! I hope to see you there.
2008 Spring Litigation Conference
The Northern California Chapter’s f irst Spring Litigation Conference has just been announced for Thursday, May 15 at Filoli Gardens in Woodside. If you are interested in litigation appraisals, or spirited discussions about recent court decisions you cannot miss this conference. Under the leadership of Norm Hulberg, MAI, the conference committee has assembled an outstanding list of “in the know” panelists. Every
Informative Links Regarding Code of Conduct / Cuomo /
Freddie Mac / Fannie Mae Agreement
as of March 20, 2008
To comment on the Code of Conduct / FNMA Agreement: [email protected]
Additional Code of Conduct / FNMA / Cuomo documents are available at: http://www.appraisalinstitute.org/newsadvocacy/cuomofanniefreddie.aspx
AI-ASA-ASFMRA-NAIFA Letter to New York Attorney General Andrew Cuomo: http://www.appraisalinstitute.org/newsadvocacy/downloads/AI-ASA-ASFMRA-NAIFAonCuomo%20agreement.pdf
Fact Sheet http://www.appraisalinstitute.org/newsadvocacy/downloads/factsheet.pdf
Home Valuation Code of Conduct http://www.ofheo.gov/media/agreements/3308HomeValuationCodeofConduct.pdf
Fannie Mae Agreement http://www.ofheo.gov/media/agreements/3308FannieAgree.pdf
Freddie Mac Agreement http://www.ofheo.gov/media/agreements/3308FreddieAgree.pdf
Appraiser News Online: “Appraisal Institute Solicits Input on Fannie/Freddie Agreement”
http://www.appraisalinstitute.org/ano/current.aspx?volume=9%20&numbr=5/6#4774
KL Gates Newsletter http://www.klgates.com/newsstand/Detail.aspx?publication=4375
Commercial appraisers
should be aware, this is not solely
a residential issue.
April 2008 3Return to page 1
Northern California Chapter Proudly Presents
2008 Annual Spring Conference Career & Exhibitor Fair
Wednesday, April 30 Doubletree Hotel, Modesto
Cutting-Edge Topics. Dynamic Presenters. Peer Interaction.
Topics include:
State of the Profession - Appraising in Declining Markets Cash Equivalence - plus our popular Market Updates
SPECIAL GUEST SPEAKER: Jim Amorin, MAI, SRA – 2008 Appraisal Institute President-Elect
Presenters Phil Schmidt – PMZ
Rick Baumgardner - AQB John Hillas, SRA - Hulberg & Associates
Wendy Coddington - SVP, Colliers International Dawn Molitor-Gennrich, SRA - The Sunrich Company
Henry Claussen - Vice President/Loan Administrator, Bank of Stockton Richard M. Betts, MAI, SRA, ASA - Betts & Associates
Craig Owyang, MAI - Craig Owyang Real Estate Rich Paddock – Paddock Appraisal Service
Carole Laval, SRA - Laval & Associates John Citrigno, CCIM - Coldwell Banker
Duke Leffer - Vice President, PMZ
Registration Fee includes Continental Breakfast & Lunch Applications for 7-hours of OREA, AI & SBE CEC have been submitted
For more information contact us Northern California Chapter
925/932-7753 FAX 925/932-7754 www.norcal-ai.org
4 Newsletter of the Northern California Chapter of the Appraisal Institute Return to page 1
Fresno Area Appraisers to GatherCome one. Come all!
Tuesday, April 29, 2008 Fort Washington Country Club
10272 N. Millbrook Avenue Fresno, CA4pm – 6pm
“Apartment Market Report: Income & Expenses”
Speaker: Jim Devaney, GSF Properties
Note: CE Credit is not available for this presentation
Cost: $5.00Reservations & Information:
Contact Mike Durkin 559/433-9257
2008 Associate Member Dues are Just $295
(Now, even less as the amount is prorated!)
Member Benefits include: discounts on educational offerings, publications, research services & more!
Plus, receive a complimentary copy of the current edition of USPAP and classified listings on the chapter’s website and newsletter.
Watch how quickly your membership will pay for itself! Act now and start reaping the rewards of membership:
http://www.norcal-ai .org/join.html .
There is no better time than now to join the
Appraisal Institute
Do I Really Need Disability Income Insurance?
While most people understand the necessity and value of life insurance, many may overlook
the valuable role disability income insurance plays in building financial security.
How will you support yourself and your family if you are too sick or hurt and cannot work?
You may be able to "get by" for a short period of time on your savings, but if the disability is prolonged, you may exhaust
most – or all – of your savings.
The bottom line is that if you lose your ability to earn an income, it may be harder
to make ends meet.
Disability income insurance can be a sensible solution to help protect your financial security
in the event you become disabled.
Call now if you'd like more information.
Christopher S. HughesSan Francisco Bay Area Agency
2121 N. California Blvd Suite 395Walnut Creek, CA 94596
(925) [email protected]
April 2008 5Return to page 1
Presidentfrom page 2
2008 Officers and DirectorsPresident
Greg Rinehart, MAIgreg@burchardandrinehar t .com
Vice PresidentSteve Castellanos, MAI, SRA
Jeff Enright, MAIjef [email protected]
secretaryLarry Hopper, MAI
ldhopper@rpaappraisal .comexOfficiO / immediate Past President
Neal Lacativo, SRAlacat [email protected]
natiOnal directOrsClaudia Carleton, MAI
[email protected] Hillas, SRA
jhi l [email protected]
Melissa Bach, MAImbach@cbpappraisal .com
Sara Cohn, MAIscohn@cbpappraisal .com
Pete Cooper, MAIpeter.cooper@sbcglobal .net
Chris Daniel, SRActdaniel@sbcglobal .net
Norm Hulberg, [email protected]
R. Scott Jura, SRAsjura@giura .com
Jan Kleczewski, MAIjk [email protected]
Brad MacLane, [email protected]
Winnie Farwell, [email protected]
2008 Branch Chapter Leadership
Central CaliforniaCarole Laval, SRA – Chair
claval@comcast .netKelly Stevens – Vice Chair
Kelly0056@sbcglobal .netEast Bay
Darin Polsley, MAI - [email protected]
Silicon ValleyKen Matlin, MAI – Chair
ken_matl [email protected] Bay
Ellen Glasgow – [email protected]
Brian Nicholson, SRA – Vice [email protected]
North BayBill Hafner, MAI
bil [email protected] Gate
Cherin Mooradian, MAIcherin.mooradian@ duf fandphelps.com
SierraTBA
2008 Committee ChairsmembershiP deVelOPment and recruitment
Nancy Townsend, SRA – Residential510/524-6469 FAX 510/527-6409
nancyt .townsend@gmail .comJosh Fronen – General408/279-1520 x 113 FAX 408/279-3428
TBA
exPerience reView – GeneralSusan Burnett , MAI
susanburnett@grai .netexPerience reView – residential
Peggy Darnall, MAI, SRA510/542-4477 FAX 510/452-4230
financeJeff Enright, MAI650/357-1619
jef [email protected] relatiOns
Carole Laval, SRA559/435-4043 FAX 559/435-4043
claval@comcast .neteducatiOn
Kathryn Sturgis-Bright415/229-3322 FAX 415/764-4825
educatiOn – cOursesBrian Grey, SRA - Chair650/355-7400 FAX 650/355-8346
[email protected] – seminars
Rich Labagh, MAI, SRA650/843-0740 FAX 650/843-0742
[email protected] cOnference
Jan Kleczewski, MAI- Chair415/248-5000 x105 FAX 415/248-0080
jk [email protected] cOnference
Steve Castellanos, MAI, SRA209/929-1441
[email protected] relatiOns
TBA
newsletterDeeDee Dunstan, MAI831/753-1844 FAX 831/424-5117
Neal Lacativo, SRA510/886-2467
lacat [email protected]
chaPter Office1243 Alpine Road, Suite 102 Walnut Creek, CA 94596 925/932-7753 FAX 925/932-7754www.norcal-ai .orgExecutive Director Lisa M. Estes l isa@norcal-ai .orgAdministrative Assistant Pat Moore pat@norcal-ai .org
Library Hours by Appointment
event we have held at Filoli has sold out well in advance. Reserve your seat today.
Conservation Easement Certificate Program
After much lobbying, the Conser-vation Easement Certif icate Program is coming to the San Francisco Bay Area. The exact date and venue for this nationally-sponsored of fering are yet to be determined, but you’ll likely see it on the calendar as soon as this summer or fall.
Communication is a Two-Way Street
The Appraisal Institute National seeks to communicate with all members through emails from [email protected]. Please make sure you
have updated your login and password on the newly released AI website ht tp: //www.appraisal inst itute .org /, and that your email set t ings allow you to receive these transmissions (check your spam filters, white lists, etc.). Receiving communication is one thing, but it is important to read them, too. At times I hear complaints about a lack of communication, though these recent emails have included timely explanations of many of today’s “hot issues” affecting professional appraisers. Other resources include the national and chapter web pages, our chapter newsletter, and of course getting out to chapter sponsored events.
Flashback! Remember Spenger’s in Berkeley?
The East Bay Branch Chapter will host a dinner meeting at Spenger’s
on Tuesday, April 29. The workshop topic is the new “Home Valuation Code of Conduct.” Don’t miss this opportu-nity to network, learn more about this important issue (while earning 2-hours of CE credit). Visit http://www.norcal-ai .org/event .html for details.
I’ve covered a lot of ground in this President’s Message. If I ’ve missed something that is important to you, let me know.
— Greg Rinehart, MAI925/935-9200
6 Newsletter of the Northern California Chapter of the Appraisal Institute Return to page 1
Spring Litigation Conference Premiers in the Bay Area
The following is an interview with Norm Hulberg, MAI, Chair of our
2008 Spring Litigation Conference. Read on, to f ind out what this infor-mative day is all about.
Q. What is the Spring Litigation Conference?
A. This conference will go into con-siderable depth on topics critical to forensic appraisers. We have no other offering like this in Northern California. The Southern California chapter has had a successful confer-ence like this for 30 years. Topics include preparing for trial, valuation of temporary construction easements, valuation of parking lost due to con-demnation, discussion of some new landmark cases and more.
Q. Who and why should appraisers attend?
A. Appraisers already doing litigation work should attend to keep up on the latest cases and to sharpen their skills and ensure that their
opinion isn' t excluded from court. Those aspiring to do litigation work should attend to get the needed knowledge to expand their practice to handle high-paying non-lender work.
Q. Who are the presenters?
A. The speakers are among the most prominent real estate attorneys and forensic appraisers in Nor thern California – the “Who’s Who” of the business. For example, one of the speakers, Norman E. Matteoni, Esq., literally “wrote the book” that is in the library of every condemnation attorney in the state.
Q. Where can interested attendees get more information?
A. Those interested in attending should view the complete registration bro-chure and register now – http://www.norcal-ai.org/brochure.html. Seating is limited. This of fering is expected to sell out early as attendees are expected from all over California.
A Northern California Chapter
Special Presentation
2008 Spring Litigation
Conference
Thursday, May 15Filoli Gardens
WoodsidePanelists include:
Roland Burchard, MAI Burchard & Rinehart
Richard M. Betts, MAI, SRA, ASA Betts & Associates
Walter D. Carney, MAI Hulberg & Associates, Inc.
John H. Erickson, Esq., Erickson, Beasley & Hewitt , LLP
Norm Hulberg, MAI Hulberg & Associates, Inc.
Patrick P. Idiart , MAI Patrick Idiart & Associates
Kevin Lally, Esq., Greenan, Pef fer, Sallander & Lally,
LLPNorman E. Matteoni, Esq.,
Matteoni, O’Laughlin & HeckmanKurt L . Reitman, MAI, SRA
The Reitman GroupThomas W. Ryland, SRWA
RVSPamela Schock-Mintzer, Esq.
Wendel, Rosen, Black & DeanDavid W. Skinner, Esq.
Meyers NavePaul Talmage, MAI,
DANA Real Property, LLC
Top 10 Reasons to Attend the
EAST BAY BRANCH CHAPTER April 29th Event➊ Kick of f our series of bi-monthly East Bay Dinner programs
➋ Re-establish ties with local East Bay appraisers without having to travel through the Caldecott Tunnel
➌ Experience a timely, detailed and professional of fering in your backyard
➍ Reacquaint yourself with Spenger’s (former meeting spot of the Society of Real Estate Appraisers for many, many years!)
➎ Get Informed: The Cuomo-Fannie Deal could determine the nature of future appraisal contracts, assignments, future invest-ments & the economy
➏ Become involved in the East Bay Branch Chapter
➐ It ’s not just about residential appraisers: Commercial apprais-ers beware; similar procedures might be on the horizon
➑ You don’t even have to like f ish to attend
➒ For Gen X-ers: This is an “X”treme Value: 2-Hours of CEC plus appetizers, networking and dinner star ting at just $35!
➓ Attendees are eligible for a “surprise give-away”
April 2008 7Return to page 1
2008 Annual Fall ConferenceCare e r and Exhibi tor F air
A one-day continuing education program
designed for the real estate appraisal community,
including members of the Appraisal Institute,
state Licensed/Certified Real Estate Appraisers,
Property Tax Appraisers, Brokers, Accountants
and other allied real estate professionals.
Monday, November 3San Francisco Hilton
16 Informative Breakouts including the popular Market Updates in a newly designed format
Plus, sessions focused on helping you “learn to earn”
Mark your calendars now and plan to celebrate a
58-Year Tradition with us this fall!
FRIDAY, NOVEMBER 2–SAN FRANCISCO HILTON
Opening Speaker: Lew Wolff, Wolff Urban Management“What Really Creates Value from a Developer’s Perspective”
Choose from 16 Informative and Timely Breakout Sessions:• Housing Market Update • Real Estate Capital Markets Update • Regs, Rules & Laws You Need to Know •• Retail Property Analysis & HBU Considerations • Strategies for Success: Planning for Today & Tomorrow •
• Political and Developmental Issues with Military Base Reuse • Construction Defects: Finding Fault from the Ground Up •• Unique Homes: Caves, Castles & Teutonic Influences • Real Estate Valuation in the Next Decade •
• Legislation Protecting the Appraiser • Green Buildings: Valuation Issues •• Commercial Market Update: San Jose & Silicon Valley • Commercial Market Update: East Bay Office & Industrial •
• Market Update: North Bay - Marin & Sonoma Counties • Commercial Market Update: San Francisco •• What is that "Million Dollar" View Really Worth? •
2007 ANNUAL FALL CONFERENCEEXHIBITOR & CAREER FAIR
57th annual one-day continuing education program designed for the real estate appraisal community, including
Appraisal Institute Members, State Licensed/Certified Real Estate Appraisers, Property Tax Appraisers and
other allied Real Estate professionals. Visit vendor & career fair exhibits that will be open throughout the day.
The Northern California Chapter of the Appraisal Institute Presents...
Applications for 6-hours of Appraisal Institute, OREA
and California SBE CEC have been submitted.
Approval requests for states outside of
California may also be submitted.
Contact us for more details.
Early Registration Discounts Availablewww.norcal-ai.org925-932-7753
925-932-7754 (fax)[email protected]
New Email AddressRick L. Magistrali, SRArmagistrali@gmail .com
Another round of Standing Room Only Workshops! Many thanks to
the members of MDR Committee Nancy Townsend, SRA, Josh Fronen, Wayne Prescott , MAI, along with additional presenters Brian Grey, SRA , and John Hillas, SRA , for delivering an informative workshop on Developing Your Appraisal Career: Taking the Next Step. Attendees not only heard tips on moving their careers in a forward manner, but also received an update on the most pressing appraisal issues of the day. Committee members were joined by Lori Horn, SRA, Steve
Lederer, SRA , and Marian Huntoon, SRA , who aided in providing one-on-one peer counseling to those seeking special at tention.
Brad MacLane, MAI, 2008 Workshop chair assembled an informative panel of presenters for our Building a DCF Model workshop. Despite some minor technical dif f iculties, attendees left the 2-hour presentation better informed and hungry for more education in this topic area. Good news! One of the presenters, Gary DeWeese, MAI, is investigating the possibility of delivering an expanded half- to full-day seminar on this topic. Stay tuned.
Literally, a chapter member in the news! John Hillas, SRA, was quoted
extensively in the recent “Code of conduct regulat ions would impact appraisers” ar ticle that appeared in the April 11 issue of the Silicon Valley/San Jose Business Journal. Hil las referred to the ef for ts the Appraisal Institute is putting into studying the issue – ht tp: //sanjose .b iz journals .com/s an jose /s tor i e s / 20 0 8 /0 4 /14 /story8.html. John currently serves as the Chair of Region I and on the Appraisal Institute’s National Board of Directors.
Think about it…“For the appraisal industry to grow and develop, new faces are needed
to carry us through the decades
ahead.”— Chapter Leader
Communiqué, February 2008
Members in The News
8 Newsletter of the Northern California Chapter of the Appraisal Institute Return to page 1
The FHA Appraisal Report
When I was asked to wr ite an ar ticle about FHA inspections
and appraisals, I wondered what depth of knowledge I could provide to the readers of this newsletter. Many have been appraising residential proper-ties for years. Others had completed FHA appraisals in the past, but due to the loan limit, had not seen an FHA f inanced residence in over ten years. So I decided to summarize….
HUD (Housing and Urban Devel-opment) created the FHA f inancing program as a way to allow more indi-viduals to purchase homes. Higher ratios, lower down payments, etc. With the creation of the sub-prime loan programs by Wall Street, the FHA loan was no longer a competitive option. Now that the sub-prime loan programs have vanished and conventional financ-ing has returned to 20% down, FHA f inancing is again the loan of choice. With the increase in loan limits, FHA is a highly competitive program.
The AppraisalWhat is dif ferent between an FHA
appraisal and a conventional loan appraisal? What do underwriters want to see in an FHA appraisal repor t that is not in a conventional appraisal report?
In a nutshell…nothing is dif ferent between the two. Both repor ts are structured the same. No additional addendums are required for FHA. (The VC sheets are obsolete.)
An FHA appraisal report looks and reads the same as a conventional report. The underwriter reviews both reports the same – with two slight dif ferences. The FHA report should report any Health and Safety issues observed in the subject property that may harm the borrower.
What Are FHA’s Concerns?If one reviews the HUD Appraisal
Guidelines located at http://www.hud.gov/off ices/adm/hudclips/handbooks/hsgh/4150.2/index.cfm they can down-load the HUD 4150.2 handbook for appraisers. All appraisers that perform inspections for FHA appraisals should be very familiar with this handbook. Not only will it make the initial inspec-
tion easier, it will aid in the defense of the appraisal should an underwriter challenge the report.
Other documents to read frequently are the Mortgagee Letters. These are issued by HUD and address recent changes to lending guidelines. These Letters can be found at http://www.hud.gov/off ices/adm/hudclips/letters/mortgagee/index.cfm, which lists the Letters by year. Be sure to review all of the Letters over the past several years.
Inspecting the Subject Property
When I v isi t a proper ty for an FHA loan, I take extra care during my inspection. Following are some of the major hazards I look for that may cause injury:
Peeling paint that may be lead ■
basedExposed electrical wiring ■
Obvious dry rot or excessive ■
moldThe presence of broken glass ■
Torn floor covering, concrete, etc. ■
that creates a tripping hazardI also look for structural issues
such as:A failing roof ■
A failing foundation ■
Missing exterior doors or win- ■
dowsAll of the above require remedial
attention and must be conditioned in the report. There are other issues that will be specif ic to your market area, which is why carefully reading the HUD Appraisal Guideline is important.
HUD wil l not loan on a “ f ixer ”
unless it is habitable. A home can have carpet and drop-in range/oven missing, and HUD will still approve the property “as is” if the rest of the home has no Health or Safety issues. (Many 3-year-old homes in the Central Valley that were foreclosures have these two issues, but no other Health or Safety concerns.)
A termite clearance is not required by HUD, but is often required by the lender underwriting the loan, or the buyer in a purchase.
SummaryPerforming an FHA inspection, or
writing an FHA report is no longer the complex issue of “being your brother’s keeper.” Conventional and FHA apprais-als are almost identical. Follow these steps and you will be able to produce a reliable and credible report:
1. Get approved by FHA. The information is on their website
2. Study HUD Appraisal Guide 4150.2
3. Find a mentor that per forms FHA appraisals and seek their advice
4. Use prudence during your inspection
5. …and put the FHA Case Number in the upper right corner of the report!
— Rich Paddock Paddock Appraisal Service
Modesto
If you would like to submit or see a residential appraisal issue addressed, contact Nancy Townsend at 510/524-6469 or [email protected].
Tech Tips: A Request from the Newsletter Editor
Residential Matters: FHA Appraisals
We are interested in implement-ing an ongoing section in the
newsletter called “Tech Tips”. Any tech suggestions, shortcuts, new software, equipment, etc. are great starting ideas for this column. Submissions don’t have to be long, just whatever you are able to contribute. We think this would be
a great addition to our newsletter and very helpful to our members who may struggle with technology issues. Please let me know if you are interested in have a “ tip” published.
Dee Dee Dunstan, MAI 2008 Appraisal News, Editor
[email protected] or 831/753-1844
April 2008 9Return to page 1
MAI and SRA Designations
Need a way to dif ferentiate and
distinguish yourself in this highly
competitive marketplace? The Appraisal
Institute of fers the most prestigious
designations in the appraisal profession.
For more information on designations,
visit http: //www.appraisal inst itute.org /about /designations.asp
Questions of the MonthQ . I am a NeW member of the appraIsal INstItute aNd eager to start reapINg the reWards of membershIp, partICularly dIsCouNts oN eduCatIoN offer-INgs. hoW CaN I be assured that I WIll be exteNded the member Vs. the NoN-member rate WheN regIsterINg oNlINe?
A . Be sure to set up your login information so that OLRS (online registration system) will recog-nize you each time you register for an of fering. Here is the link to activate your online account today- http://www.appraisa-linstitute.org/membership/default_signup.asp. Once your account is activated, you will be eligible to receive valuable member discounts automatically when registering online.
Q . I’Ve heard that the geNeral CompreheNsIVe examINatIoN
Is NoW beINg offered seVeral tImes a year aNd that the regIstratIoN proCedures haVe ChaNged. WheN Is the Next tIme I CaN regIster aNd take thIs exam?
A . The next two of ferings of the Comprehensive Exam are July 21-22 and September 15-16. The Comp is now offered, like our regular course exams, through Pearson Vue Testing Centers. You can see their information online at http://www.pearsonvue.com/ai/. They have multiple locations per state, so you will not be tied to a single location per region, but each location does have a limited number of seats. If you want to take the comp in July, apply now so that you have the best chance of your preferred location being available. The new registration procedure goes like this; (1) you
submit the application and pay-ment to the National Off ice, (2) after National verif ies your eligibil-ity you will be issued an eligibility e-mail and you are entered into Pearson Vue’s database; (3) at this point, you can schedule your exams for either July 21-22 or September 15-16 at any of their U.S. locations that has available seats. For more information or additional questions, contact the Associate Member Service Center at 312/335-4111 or [email protected].
Q . hoW CaN I get a Copy of my traNsCrIpts detaIlINg Courses/semINars that I haVe already takeN?A . Simply log into your account under “My Appraisal Institute” web-site – http://www.appraisalinstitute.org/. This and additional services will appear in the lef t column.
What Does Membership in the Appraisal Institute Offer?Each month we will highlight some of the benefits available to Appraisal
Institute members. To view a complete list, visit http://www.appraisalin-stitute.org/membership/benef its.aspx .Find an AppraiserOur Find An Appraiser directory is an amazing member benefit! I got a bid request less than 24 hours after my name was posted! – Paul B. Harrison, MAI, North Carolina Chapter Member Since 1977. Homeowners and potential clients turn to “Find An Appraiser” to search for designated and associate members to handle their assignments. Your Appraisal Institute colleagues use “Find an Appraiser” for networking and referrals. Front and center on www.appraisalinstitute.org , the Directory receives more than 30,000 hits each month. A tremendous member benefit that will help you grow your business! Visit http://www.appraisalinstitute.org/f indappraiser/ to see the “Find An Appraiser” Directory in action.The Appraisal JournalThe Appraisal Journal features more than 400 pages each year written by leading practit ioners in the appraisal profession. Receive complimentary online or printed copies of The Appraisal Journal. No other resource gives you hands-on information you can use today to enhance your business. Click here to read more about The Appraisal Journal.The Y.T. and Louise Lee Lum LibraryThe Lum Library represents one of the most valuable resources for members. An extensive vir tual library, available 24/7 with thousands of ar ticles, chapters, and other resources to select from. Having trouble f inding the document you need? Lum Library staf f is available to help you at no charge. Visit the Lum Library – www.appraisalinstitute.org/profession/lumlibry.aspx .
please Note: the benefits discussed in the program(s) above are for informational pur-poses only and may be subject to separate terms and conditions ef fective at the time the member signs up to par ticipate with the company administering the respective program(s). Members may be required to agree to separate terms and conditions by the company administering the respective program(s) prior to par ticipating in the program.
10 Newsletter of the Northern California Chapter of the Appraisal Institute Return to page 1
Legislative Update
Government Relations ReportAppraisal Independence, Blacklisting, Anonymous Complaints
Appraisal independence was among the hot topics during a February
13 conference call by the Appraisal Institute’s Washington, D.C., of f ice. Over 30 state government relations representat ives f rom around the country took par t in the call, which addressed current federal legisla-t ion, b lack l ist ing, and anonymous board complaints. The call included an overview of last November ’s pas-sage by the House of legis lat ion promoting appraisal independence, promoting appraisal designations, and increasing enforcement. The bil l was originally introduced as H.R. 3837 but was later rolled into H.R. 3915, and then passed through the House. On the Senate side, Sen. Chris Dodd, D-Conn, introduced legislation (S.B. 2452) that prohibits appraisal pres-sure as well.
“Unfortunately,” according to Justin Mor ton, Appra isa l Inst i tu te State Government Relations representative, “Dodd’s bil l includes provisions that would require appraisers to become bonded, plus the bil l also includes other detr imental provisions.” Mor ton said the D.C. of f ice is working closely with Dodd’s staf f to remove these provisions from the bil l and is con-f ident they will be eliminated. The next step is a hear ing for Dodd’s
legislation, which currently has not been scheduled.
Related to appraiser pressure, Mor ton also discussed the blacklist-ing of appraisers, asking conference call par t icipants whether there is a legislat ive solut ion. One response was to write a let ter to the president of the company doing the blacklist ing and carbon-copying the local of f ice of the Of f ice of Thrif t Supervision. Other participants thought that includ-ing blacklisting in appraiser-coercion language would be a strong deterrent. South Carolina and Minnesota have such language, and Hawaii is attempt-ing to include such language in its bill. “ It wil l be interesting to see whether such language can pass through the legislative process and become enacted into law,” Mor ton said.
Listeners also considered the effec-tiveness of allowing individuals to f i le complaints anonymously with their state appraisal boards. Oklahoma is considering such a bil l this year. “The ult imate concern is the potential for abuse,” Mor ton said. “Anonymous complainants can use the process to t ie up an appraiser or they can use it as a means of impeaching an appraiser during a cour t hearing. On the other hand, anonymous complaints do allow appraisers in smaller communit ies to lodge complaints without fear of retr ibution,” he explained. “This is an issue that is l ikely best resolved, state by state.”
Let’s Get PersonalLet’s Get Personal is a new feature
column. Each month we will highlight members of our current leadership team. We hope that their stories will inspire you to continue pursuing your designation, becoming more involved in the Appraisal Institute and simply getting to know each other.
Greg Rinehart, MAI
I am ver y proud t o h ave b e e n
introduced to the appraisal profession by my father, Gary Rinehar t. My dad was an at to rney for Caltrans in his ear ly years, and in
pr ivate practice in Oakland for many more. He is best known in the pro-fession for successfully arguing for compensation for business goodwill in the “Muller Veter inary” case. He int roduced me to many Appraisal Institute and IRWA members, who I st i l l see and work with. Everyone asks me, “How is your dad?” Contact him, see for yourself, and enjoy the music at www.garyspiano.com .
I was raised in, and now live with my family in Piedmont. I have been an East Bay resident for most of my li fe. In high school I was a member of the Oakland Strokes Rowing team. That was the most rewarding expe-r ience of my li fe since it was there I met my high school sweethear t and future spouse Mel ina. In my spare t ime I continue to row with the Marin Rowing Association. Today my greatest pr ide is my two beauti -ful teenage daughters. They both excel at school, and in their var ious interests, cheer leading, horseback r iding, theater, and ar t. Melina is an aspir ing teacher, and wil l complete the Teacher ’s Credential Program at St. Mary’s this Spring.
I continued rowing at UCLA for three years, later graduated, took an appraisal job in Livermore with Home Savings, and soon was marr ied (see above). Always looking for excitement, I took my father ’s advice and took a position as a Right of Way agent (Yes, I actually wrote that on my applica-t ion let ter) with Caltrans.
Af ter f ive years with the State, I joined Roland Burchard and Associ-ates. I earned my MAI designation in 2001 with the great suppor t and encouragement o f Ro land. I am lucky to have met him. In 2002 we established Burchard and Rinehar t, and now specialize in appraisals in eminent domain matters. We are in turn pr ivi leged to work with two very promising associates, Erik Woodhouse (the tall one) and Kevin Larson. Both are very talented appraisers and f ine cit izens.
I am honored to serve this year as President of the Nor thern California Chapter of the Appraisal Institute. One of my goals is to promote specialization, professionalism, and the designations of our AI Chapter membership. I highly recommend IR/WA membership to any appraiser interested in r ight of way work. I also recommend our Appraisal Institute functions to any interested IR/WA member. The Appraisal Institute continually presents topics of interest to all real estate professionals, not just appraisers.
April 2008 11Return to page 1
Agenda for Associates2008 General Demo Report Writing Workshops
The General Demo Report Writing workshop is not a course or a
seminar, but an independent learning experience with individualized guid-ance from exper t demo graders and seminar instructors. The facilitators will answer questions and direct associates to appropriate text materials to keep them on the right path to success-ful completion of the demonstration repor t process.
EligibilityAssociates planning to attend the
2008 General Demonstration Appraisal Report Workshops must be members in good standing with all dues paid to date, and must not be subject to current disciplinary action by the Appraisal Institute. Workshop attendees must have all required course work for their particular MAI designation path suc-cessfully completed prior to submitting their application.
FeesThe cost of the workshop is $695.
Participants are responsible for arrang-ing and paying for all transpor tation, lodging, meals, and incidentals. The f inal payment of $595 (less the $100 application fee) is due two weeks prior to the f irst day of the workshop.
Dates and LocationsJune 22-26 (Boston, MA) ■
September 21-25, (Greensboro, NC) ■
October 21-25 (Las Vegas, NV) ■
For more information, e-mail Marilyn Moore, Associate and Prospective Member Services, or call 312/335-4179.
Membership Development & Retention Committee (MDR)
Contact any of the members of our MDR Committee for complimentary
advice and/or assistance in leading you in the right direction as you pursue a career in real estate appraisal:
Nancy Townsend, SRA– Residential Co-Chair510/524-6469NancyT.Townsend@gmail .com
Josh Fronen (Associate)– General Co-Chair408/279-1520 [email protected]
Brian Williams, MAI707/573-3443brianwill iams25@comcast .net
Wayne Prescott, MAI408/255-6840 x [email protected]
The California Chapter, ASFMRA presents…
NEW!
2008 EDUCATION WEEKMay 12 – 16, 2008
Holiday Inn Airport – Fresno
Efficient Use of Microsoft Word & Excel in Evaluating Property Economics
Dairy Facility Appraisal – A Mooving Target
7 Hour USPAP Update
The Appraisal of Permanent Plantings in Changing Markets
Networking Dinner
Presented by California Chapter, ASFMRA
PO Box 838Woodbridge CA 95258
(209) 368-3672fax (209) 368-3602
Holiday Inn Airport5090 E. Clinton Way Fresno CA 93727www.holiday-inn/fresno-airport.com
Group Reservations (559) 455-2509 Hotel Main Line (559) 252-3611 Rates $99/night – Ask for Group Discount
HOTEL INFORMATION
Associate on The Move
Art TroyWells Fargo Bank333 Market Street, 21st FloorSan Francisco, CA 94105415/371-3564eFax 866/[email protected]
12 Newsletter of the Northern California Chapter of the Appraisal Institute Return to page 1
News From NationalNational Board Approves Trainee Membership Change
In a recent 45-Day Notice, the Appraisal Institute Board of Directors announced
a proposal to move members who are licensed appraiser trainees from affiliate membership to associate membership. In addition “aspiring appraisers” would also be able to apply for associate membership. The Board met March 26 and voted to amend the Bylaws accordingly with the goal of implement-ing the change in the f irst quarter of 2008. The move comes as part of an aggressive membership recruitment program being initiated this year in which the Appraisal Institute aims to add 5,100 new members.
According to the proposal, dues for trainees and aspiring appraisers would be $95 for 2008. Aspiring appraisers are described as individuals seeking a trainee license or equivalent from their state but who have not com-pleted the education required for such license. Such individuals may qualify for this status for a maximum of two years. Licensed appraiser trainees are those appraisers who hold a trainee or equivalent license.
In November 2007 the Board adopted changes to the Bylaws allowing train-ees to become af f i l iate members; however, because the Af f iliate cat-egory is designed for members who do not per form USPAP-related work, it is more appropriate to have train-ees positioned under the Associate category, according to the proposal’s rationale.
Appraisal Institute Unveils New Web Site
The Appraisal Inst i tute unvei led its redesigned Web site – www.
appraisa l inst i tute .org – on March 4. The redesigned Web site features streamlined content and intuitive navi-gation for greater ease and ef f iciency, according to Yoon Hernandez, Manager, Online Marketing. It now also of fers even more useful resources and timely information to serve members and visi-
tors as an all- in-one portal. Links to the most frequently accessed areas of the Web site appear on the new home page’s lef t side, including:
“Find an Appraiser,” the Appraisal ■
Institute’s online member direc-toryLogin f ields for “My Appraisal ■
Inst i tute,” the new members-only area“Go” buttons leading to prominent ■
pages, such as the Lum Library and the Appraiser News Online sign-up page
In addition, links to the member benefits page and the online member-ship application (the “Join” button) are prominently displayed so that prospec-tive members can instantly learn more about membership opportunities.
Member Profile Now Featuring Sustainability Specializations
Designated members: Do you have exper tise in working on “green”
bui ldings or sustainable valuat ion projects, or have the LEED AP des-ignation? You can now let the world know about this area of exper tise by logging into “My Appraisal Institute” and updating your Member Profile. The following options are now available:
Business Services ■
Conservation Valuation and �Consulting
Proper ty Types and ■
SubcategoriesSpecial Purpose: Sustain- �able Development (Green Buildings)Special Purpose: Conserva- �tion Easement
Other Professional Af f iliations/ ■
DesignationsOther (write-in): United �States Green Building Coun-cil (USGBC)
Take this oppor tunity to update other areas of your Member Prof ile including market areas served, lan-guages, your member photo, and other important information that can market your exper tise and help you f ind new clients!
Fourth Quarter 2007 Trend Report Now Available
The Four th Quar ter 2007 Trend Repor t is now available on the
Y.T. and Louise Lee Lum Library’s online catalog. This quarter produced a bumper crop of ar ticles on real estate. The Trend Repor t presents a quanti-tative and qualitative look at trends af fecting the real estate appraisal industry through literature searches of the FirstSearch database. The Trend Repor t is accessible through a tab on the Lum Library’s online catalog in the “Members Only” section of the Appraisal Institute’s Web site.
The library’s main online catalog contains more than 40 years of The Appraisal Journal and The Real Estate Appraiser ar ticles, as well as all Valu-ation Insights & Perspective ar ticles, for members to search anytime. The Digital Library, a new tab on the menu bar, is a work in progress, and it currently contains ar ticles from the f irst issues of both the The Appraisal Journal and The Real Estate Appraiser. The Y.T. and Louise Lee Lum Library is underwritten by the Appraisal Insti-tute Education Trust. If you have any questions, e-mail the Lum Library or call 312/335-4467.
Appraisal Journal Spotlights Special Property Topics and Interests
The Winter 2008 issue of The Appraisal Journal examines the distinctive
character ist ics of special proper ty interests – a key step in developing a valuation estimate. Featured ar ticles by appraisal practitioners specif ically focus on the unique aspects of aircraft hangars, water rights, limited-service hotels, industrial incubator warehouses, and apartments.
Save the DatesMore East Bay Branch Chapter Events Coming to Berkeley:
☛ June 24☛ August 26☛ October 28
April 2008 13Return to page 1
EducationUpcoming Educational Offerings
Yes, please provide me with pre-registration information on the above checked education programs.
Name Phone
FAX Email
There are three ways to receive advanced notif ication of these upcoming education of ferings: u visit our website at www.norcal-ai .org; v call us at 925/932-7753; or, w fax this page back to 925/932-7754. We reserve the right to cancel or substitute dates, locations and/or instructors as necessary. Interested attendees are encouraged to register at least one month prior to the of fering to help avoid possible cancellation.
Seminar: Appraisal Challenges: Declining Markets ❑ Apr 28 Location: San Francisco For more information or to register for this nationally sponsored offering visit http://www.appraisalinstitute. org/education/seminars1.asp?id=803
Workshop: Cuomo-Fannie Deal – ❑ What Does it Mean for Appraisers? Apr 29
Instructors Panelists Location: Spenger’s, Berkeley
Networking: Fresno Area Networking Social Apr 29 ❑
Topic: Apartment Market Report: Income & Expenses Location: Fort Washington Country Club, Fresno
Course: Basic Appraisal Principles Apr 29 – May 2 ❑
Instructor: Arlen C. Mills, MAI, SRA Location: University of Phoenix, Fair f ield
2008 Annual Spring Conference Apr 30 ❑
Location: Doubletree Hotel, Modesto
2008 Spring Litigation Conference May 15 ❑
Presenters: Panel of attorneys & appraisers Location: Filoli Gardens, Woodside
Workshop & Networking Social May 22 ❑
Location: Four Points by Sheraton, Pleasanton
Networking: Fresno Area Networking Social May 27 ❑
Topic: Snapshot; Off ice Market Location: Fort Washington Country Club, Fresno
Course: General Appraiser Income Approach / Part II May 28-31 ❑
Instructor: Gary S. DeWeese, MAI Location: University of Phoenix, Oakland
Course: Basic Appraisal Procedures Jun 3-6 ❑
Instructor: Arlen C. Mills, MAI, SRA Location: University of Phoenix, Fair f ield
Seminar: Vineyard Valuation Jun 6 ❑
Presenters: Panelists Location: Wine Country / TBA
Course: General Market Analysis / HBU Jun 18-21 ❑
Instructor: Gary S. DeWeese, MAI Location: University of Phoenix, San Jose
Requesting a Duplicate Attendance Certificate
I f your renewal cycle is about to come due, don’t wait to start gathering your
attendance certif icates and getting all of your continuing education records in order. The Chapter Office only maintains records for seminars and workshops, while the National Off ice maintains the records for courses (regardless if the course was sponsored by a local chapter). For course transcripts contact the Appraisal Institute’s Information Center at ht tp: //www.appraisa l in -s t i tu te .org /educat ion /downloads /Certi f icate_Request_Form.PDF or 312/335-4140.
To request a duplicate attendance certif icate for a conference, seminar or workshop of fered by the Northern California Chapter, submit your request to the Chapter Off ice in writing. Due to the volume of requests, only written requests/faxes can be handled. Be sure to include the date (month/year) and the name of the program. As much of the back-up documentation is now stored in archives, allow a minimum of three weeks for your request to be processed. Non-members of the Nor thern California Chapter should include a $15 processing fee with their writ ten request. This research will be provided to members of the Northern California Chapter at no charge.
C o m i n g t h i s S u m m e rCo u r s e
ADVANCED APPLICATIONS
July 10-12 & 14-16Instructor:
Gar y S. DeWeese, M AILocation TBA
14 Newsletter of the Northern California Chapter of the Appraisal Institute Return to page 1
Appraisers Wanted
Integra Realty Resources – San Francisco ■ is seeking intermediate and senior level commer-cial appraisers for its offices in San Francisco, Walnut Creek and San Jose. Particular need for appraisers with experience in subdivisions, con-dominiums and affordable housing. Minimum of 3 years of commercial experience required. Must be an excellent writer and have strong analyti-cal ability. Good Excel skills necessary. Argus experience helpful. Outstanding resources to increase your efficiency and earnings. Competi-tive fee splits with base salary. Benefits include paid education, license fees/dues, health/dental, and matching 401K. Contact Jan Kleczewski, MAI at [email protected]. More info at www.irr.com.Schmidt-Prescott Group seeks Appraiser ■ with Certified General. Because of an expand-ing workload, the Schmidt-Prescott Group will hire a real property appraiser holding a Certified General license. The candidate for this career position will have earned a bachelor’s degree, preferably in business, finance, engineering, or a related field, be a skillful analyst and good writer, and be driven by the need to be con-tinuously challenged. The candidate should be designated by, or affiliated with, a high-quality appraisal organization, preferably the Appraisal Institute. Assignments throughout Northern California, predominantly in the Bay Area and Central Valley. Research assistance provided on every assignment. We offer a challenging work environment and a balance of work for a diversified client base comprised of attorneys, accountants, banks, government agencies, investors, and business entities. Private office. Opportunity to work from home with access to all on-site files and databases. Company-paid medical benefits, continuing ed classes, and matching retirement plan. Income based upon production. Please send your resume via email to [email protected]. No calls, please. We will contact you after reviewing your qualifications. Interested candidates who we talked to in the past should re-apply. Equal Opportunity Employer.Schmidt-Prescott Group seeks Research ■
Assistant. Because of an expanding work-load, the Schmidt-Prescott Group will hire a Research Assistant. Research Assistants work with databases and other web resources to discover potential comps, then verify them with a party to the transaction. The candidate for this position will have earned a bachelor’s degree, preferably in business, finance, engineering, or a related field, and be driven by the need to be continuously challenged. The candidate will preferably hold an OREA trainee license. The successful candidate could begin doing research part-time and ultimately transition into a full-time commercial appraisal career with SPG. We offer a challenging work environment and a balance of work from a diversified client base. Flexible hours. Company-paid medical benefits, continu-ing ed classes, and matching retirement plan for full-time employees. Please send your resume via email to [email protected]. No calls, please. We will contact you after reviewing your qualifications. Interested candidates who we talked to in the past should re-apply. Equal Opportunity Employer.
Commercial Production Appraiser – Oakland ■ . WaMu, the nation’s #1 multi-family lender (based on 2006 HMDA data), offers an array of loan pro-grams for 5+ unit multi-family properties, retail, office, industrial and mixed-use properties. Ideal candidates have a Certified General License and 5+ years experience appraising these types of properties. We offer a competitive base salary plus incentive compensation for production appraisers. You are also eligible for our benefits including: medical & dental insurance, paid vaca-tion, ten paid holidays a year, incidental illness time, and traditional & Roth 401(k) plans with a company match. Apply on WaMu.com to job number 454091 to be considered. For details, email [email protected]. WaMu is an Equal Opportunity Employer.Real Estate Appraiser/Risk Management ■
Officer – 20+ hours/week in The Dalles, Oregon or Vancouver, Washington. Functions to assist the Credit Department in risk management and valuation issues associated with the bank’s real estate portfolio; reports to the Real Estate Risk Management Dept. Manager; prepares evalua-tions and assists in training of loan officers and credit support staff in preparing evaluations; prepares appraisals on any class of real estate as needed; reviews appraisals and evaluations for accuracy, completeness, and conformity to banking and USPAP guidelines; orders appraisal services for the bank; assists in maintenance of approved appraisers, contractors, and other trades as needed; assists Credit department staff in any manner necessary with regard to real estate risk and valuation issues; prepares and presents training and market information for bank employees and clients as needed; assists in the management and disposition of OREO properties; other duties as assigned. General Certified license in the state or Oregon or Washington required. Columbia River Bank is an equal opportunity employer. Please see our website for more information: http://www.columbiariverbank.com/CRBJobPosting2.cfm?reqnum=11082.6.4090.Real Estate Risk Management Assistant ■ – 40 hours/week in The Dalles, Oregon. Main-tains approved appraiser and environmental consultants lists and update information on department website as needed; assists loan officers in gathering market data for in-house evaluations; compiles quarterly Market Condi-tions Report; processes appraisal requests by loan officers, inputs data into project pipeline, prepares files and gather necessary documen-tation; communicates with appraisers and loan officers during the appraisal process; calls appraisers to get bids; makes sure the appraiser has the necessary documentation to complete the assignment; tracks monthly progress and assignments in the pipeline; works with Real Estate Risk Management Officer and Credit Administration as needed; prepares invoices and G/L certifications as needed; prepares documentation such as appraisal engagement letters, appraisal reviews, and appropriate department forms. Other duties as assigned. Must complete USPAP, Appraisal Practices, and Appraisal Procedures courses within 12 months of beginning position. Real estate experience helpful but not required. Columbia River Bank is an equal opportunity employer. Please see our website for more information: http://www.columbiariverbank.com/CRBJobPosting2.
cfm?reqnum=1108.6.4095.Northern California/Bay Area Commercial ■
Appraiser position available at a growing and dynamic professional firm. Must be thorough, detail oriented, motivated, have strong writing skills and be computer literate with proficiency in MS Word and Excel (Argus experience desirable). Certified State License required. Five plus years Commercial Appraisal experience required. MAI or actively seeking designation. Competitive fee splits and Retirement Plan offered. If you meet these qualifications, please contact: Jeffrey W. Fillmore, MAI at 1062 Willow Street, San Jose, CA 95125, Telephone 408/299-0444, Fax 408/299-0449, or e-mail your qualifications to: [email protected].
Miscellaneous/Available
Review Appraiser ■ with mortgage fraud empha-sis/commercial real estate researcher. 25 Yrs. Bay Area experience. Excellent references. [email protected].
Advertising Guidelines &
Deadlines
The newsletter submission deadline ■ is noon on the 5th of the preceding month. All submis-sions for the June 2008 issue must be received by noon on May 5. We reserve the right to reject or edit advertisements submitted for publication. Classified ads are limited to 40 words and a $40 publishing fee must accompany submissions from non-affiliates. Classified advertising is complimentary for AI members. All ads will be printed on a space available basis. The Appraisal Institute does not endorse any of the ads that appear and assumes no responsibility for the reli-ability of ads other than to publish them. Submit ads via email to [email protected].
Jump Start Your RE Appraisal Career
BASIC APPRAISAL PRINCIPLES
April 29-May 2
Instructor Arlen C. Mills, MAI, SRA
University of PhoenixFairfield
✿
✿
April 2008 15Return to page 1
Northern California Chapter’s Mission Statement“To serve our members through education, professional development, and support in achieving their professional designations.”
April/May Programs & Events at a GlanceA
pri
l 2
7 –
Ma
y 1
5,
20
08
Sun Mon Tue Wed Thu Fri Sat
APR 27 28 29 30 MAY 1 2 3
Appraisal Challenges — San Francisco
• “Code” Workshop/Networking — Berkeley
• Fresno Net-working — Fresno
Annual Spring Conference — Modesto
Appraisal Principles — Fair f ield
4 5 6 7 8 9 10
11 12 13 14 15 16 17
Spring Litigation Conference — Woodside
4 Newsletter of the Northern California Chapter of the Appraisal Institute Return to page 1
Advertise With UsHere is a fabulous opportunity to get your
name, company, products or services in front of over 3,700 appraisers and real estate related professionals. Simply send us a PDF of your ad designed to f it one of the formats in the table below. Fonts used in the ad must be embedded when the PDF is created; colors used should be RGB. Photographs and graphics should be ren-dered at highest quality.
We also of fer banner ads on our website — for just $100! Your ad will be displayed for 30 days.
For more in format ion, contact Lisa Estes at 925/932-7753 or l isa@norcal-ai .org.
Available Ad SizesFull page = $500
10"h x 7.5"w1/4 page = $1504.75"h x 3.75"w
1/2 page = $2754.75"h x 7.5"w
Business Card = $752.38"h x 3.75"w
NEW!
Congratulations! Newly Designated
William “Bert” Craytor, SRAPrincipalPacif ic Vista Net242 Clif ton RdPacif ica, CA 94044650/355-7220 FAX 650/[email protected]
Marilyn Vicino-Bergerhouse, SRADirector/Chief AppraiserFremont Bank25151 Clawiter RoadHayward, CA 94545510/723-5977 FAX 510/[email protected]
Members Making A MarkThe Northern California Chapter was well represented
at the recent Regional Meetings held last month in San Francisco. The following Regional Representatives were in attendance: Neal Lacativo, SRA, Jeff Enright, MAI, Brad MacLane, MAI, Nancy Townsend, SRA, Marian Huntoon, SRA, Kathryn Sturgis-Bright, Winnie Farwell and Steve Castellanos, MAI, SRA. Attendees debated the most recent 45-day notice material that included topics such as requirements for service on LDNC, USPAP Course requirements for Associate Members, the structured format for the Residential Demonstration Appraisal Report, GMAT Alternative for General Associate Members, and New Mem-bership Categories & Statuses. Three additional members of the Northern California Chapter were also present: John Hillas, SRA , and Claudia Carleton, MAI, who both serve as elected National Directors, and Karen Mann, SRA , who gave an LDNC update and an energetic presentation on working with and motivating volunteers.
Bill Hafner, MAI, has been elected as the North Bay Branch Chapter Chair. Live or work in the North Bay? Want to meet & greet with other local appraisers in your area? Contact Bill today: [email protected] . He is actively seeking North Bay Advisory Board Members to help plan future NB networking and education events.
Attention Chapter Members:
Join Our Email Distribution List
Email is one of the quickest and most ef fective ways that our chapter members can communicate with each
other. Have an appraisal related question? Looking for comparable information? The chapter’s group email serves as a great information exchange. Chapter members who do not currently belong to the chapter’s group email are encouraged to send an email to l isa@norcal-ai .org stat-ing their intent to join! Best of all – it ’s free!
Who pays you if you are too sick or hurt to work?
I can. Call me to f ind out how MassMutual’s disability income protection can help
people through the devastating effects of
a disability.
Christopher S. HughesMassMutual
Financial Group2121 N. California Blvd
Suite 395 Walnut Creek, CA 94596
(925) [email protected]
l isa@norcal-ai .org
