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AppraisalInstitute®
Professionals ProvidingReal Estate Solutions
COLORADO CHAPTER APPRAISAL NEWS
Volume 27, No. 1 — January, 2017
Publisher: Sherry Engleberg www.colo-ai.org
Colorado Chapter of the Appraisal Institute
Annual January Seminar and Installation Banquet
Friday, January 27, 2017
Location Glenmoor Country Club 110 Glenmoor Drive, Cherry Hills Village, CO 80113
Seminar 3:00 pm Watch for details!
Cocktails 6:00 pm
Installation Banquet 7:00 pm Installationof2017officers,directors,regionIIrepresentativesandalternates Designation Presentations
• Board of Directors Meeting • 11:30 AM •
Have a Safe and Happy Holiday!
Page 2
2016 OFFICERS AND DIRECTORS
PRESIDENT Michael D. Sullivan, MAI, SRA, AI-GRS ..... [email protected]
VICE-PRESIDENT Jon Vaughan, MAI ....................................... [email protected]
SECRETARY/TREASURER Susanne Dickinson, MAI ........... [email protected]
PAST PRESIDENT Rodman Schley, MAI [email protected]
DIRECTORS 1 Year Lisa Desmarais, SRA ........................ [email protected] Ron Holm, SRA [email protected] Dustin Ferguson, MAI............... [email protected]
2 Years William Bush, MAI ................ [email protected] Brent Henry, SRA, AI-RRS [email protected] Michael R. Nash, MAI [email protected]
3 Years Benjamin B. Davidson, MAI, SRA . [email protected] Jason Letman, MAI [email protected] Scott McHenry, MAI, AI-RRS ...... [email protected]
2016 CHAPTER COMMITTEE CHAIRS
Bylaws Chair Richard C. Mosier, MAI .............................. [email protected]
Candidate Guidance Advisors Bonnie Roerig, MAI, AI-GRS .......................... [email protected] Susan Ebert-Stone, SRA ................................. [email protected]
Candidate Committee General: Ben Davidson, MAI, SRA ......ben@[email protected] Residential: Brent Henry, SRA, AI-RRS [email protected]
Education Chair Mike Nash, MAI,AI-GRS [email protected]
Government Relations Lisa Desmarais, SRA, Chair .............. [email protected]
Editorial Articles Mark Linne, MAI, SRA .................... [email protected]
2016 REGION II REPRESENTATIVES
One Year Term Susan Ebert-Stone, SRA .. [email protected] Jeovani Gaytan, SRA ........... [email protected] Benjamin B. Davidson, MAI, SRA ... [email protected]
Two Year Term Sara Hillman, SRA [email protected] Lisa Roberts ...................................... [email protected] Mildred Wilson [email protected]
Alternate Hank Stone, SRA Warren Boizot, SRA Mike Smith, MAI
2017 OFFICERS AND DIRECTORS
PRESIDENT Jon Vaughan, MAI ....................................... [email protected]
VICE-PRESIDENT Susanne Dickinson, MAI [email protected]
SECRETARY/TREASURER Benjamin Davidson, MAI, SRA ....... [email protected]
PAST PRESIDENT Michael D. Sullivan, MAI, SRA, AI-GRS ..... [email protected]
DIRECTORS 1 Year William Bush, MAI [email protected] Brent Henry, SRA, AI-RRS [email protected] Michael R. Nash, MAI [email protected]
2 Years Jason Letman, MAI [email protected] Scott McHenry, MAI, AI-RRS ...... [email protected] Warren B. Boizot, III, MAI [email protected]
3 Years Jeovani Gaytan, SRA ......... [email protected] Justin Atwell, MAI .......................... [email protected] Christopher McDermott, MAI .. [email protected]
2017 CHAPTER COMMITTEE CHAIRS
Bylaws Chair Richard C. Mosier, MAI .............................. [email protected]
Candidate Guidance Advisors Bonnie Roerig, MAI, AI-GRS [email protected] Joshua Walitt, SRA ..................... [email protected]
Candidate Guidance Committee General: R. Scott Woods, MAI ........ [email protected] Residential: Warren B. Boizot, III, [email protected]
Education Chair Mike Nash, MAI, AI-GRS [email protected]
Government Relations Susan Ebert-Stone, SRA, Chair ............................... [email protected]
Guest Editor Mark Linne, MAI, SRA ..................... [email protected]
2017 REGION II REPRESENTATIVES
One Year Term Sara Hillman, SRA [email protected] Lisa Roberts ...................................... [email protected] Mildred Wilson [email protected] Susanne Dickinson, MAI [email protected]
Two Year Term Charles Nelson, MAI .... [email protected] Marge Moore ................................ [email protected] Mike Smith, MAI [email protected]
Alternate Nickell Close, MAI Ron Gazvoda, MAI Joshua Walitt, SRA Michael Wood, MAI Jacob Antillon, SRA
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As 2016 comes to a close, I’d like to take a moment to again congratulate the following members of our chapter who earned an Appraisal Institute designa-tion during 2016. By taking time out of their busy schedules and furthering their education with The Appraisal Institute, these people have demonstrated a strong commitment to excellence. Congratulations to you all!
Brad C. Brooks, SRAChristopher S. Burkhart, MAILarry B. Close, MAIKyle W. Dennett, MAI, SRARonald J. Gazvoda, MAIBenjamin T. Godbey, MAIDaryl M. Goehring, SRABrent L. Hoag, MAIJamie Humphrey, SRAJaimee D. Keene, MAIMark R. Linne, MAI, SRA, AI-GRSVirginia Messick, MAI, AI-GRSJohn P. Nisley, MAIMegan G. Richard, SRARobert S. Sullivan, MAIMichelle M. Volker, MAISiobhan E. Wilson, SRAFred J. Wood, Jr., MAI, AI-GRS, AI-RRSNelson Bowes, MAI, AI-GRS
Education is a cornerstone of our organization and a key element of success in our society. When I read the demographic sections of appraisal reports, I’m often reminded that the parts of our great nation that have the highest per capita income usually have the highest levels of education as well. It is clear that there is a very strong correlation between educa-tion and economic well-being. The Appraisal Insti-tute offers a full array of educational opportunities including qualifying education, designation educa-tion, professional development programs, USPAP and continuing education programs.
If you are just entering the profession, con-sider taking all your qualifying education with the Appraisal Institute; you will not find better classes anywhere. If you need continuing education, we offer a wide variety of opportunities at both the local and national levels. If you are a seasoned professional, but are looking to move your career to the next level, consider delving into the myriad of professional development programs in advanced financial anal-ysis, appraising green buildings, or litigation sup-port. The Appraisal Institute offers these classes in a variety of formats. If you like face-to-face classes, we offer those. If you want to interact in real-time with classmates but prefer to do so remotely, try a syn-chronous offering. If you prefer to have an on-line
experience and work at your own pace, we offer those too. If you want to take classes, network with fellow apprais-ers, and enjoy a little vacation, consider attending the next international convention in Ottawa, Ontario, Canada from June 8-11, 2017. The keynote speaker will be noted physician, scientist, author and deep-sea explorer, Dr. Joe MacInnis.
I have very much enjoyed serving as the Colorado Chapter President in 2016. This is a great organiza-tion and a great profession. I wish you all the best in 2017.
PRESIDENT:Bret R. Poole, MAI................................................303.297.0400.........................................................bpoole@bowesandco.com
VICE PRESIDENT:Doug Nitzkorski, MAI..........................................303.789.1515..................................................................doug@avcvalue.com
SECRETARY/TREASURER:Louis J. Garone, MAI, SRA..................................303.324.3403...............................................................Garone3@comcast.net
PAST PRESIDENT:J Virginia Messick, MAI.......................................303.623.4908......................................................................jvmenb@msn.com
DIRECTORS:One Year
Sue Dickinson, [email protected]. Michael Rinner, MAI ..................................303.662.0155
[email protected] A. Schwartz, MAI ....................................303.671.7511
[email protected] Years
Arthur R. Alarcon, SRA ....................................303.914.2919arthur.alarcon@va.gov
Sue Anne Foster, MAI, SRA [email protected]
Dana L. Larson.................................................303.914.9565dana@cradenver.com
Three YearsDeane L. Davenport, MAI, SRA ............................................
[email protected]. Becky Krone, [email protected] Nelson, [email protected]
One-Year Term Jack Nisley, MAI, [email protected]
Mark Pope, [email protected]
Marge [email protected]
Two Year Term John D. Freeman, MAI, [email protected]
Rodman Schley, [email protected]
Karen L. Tool, [email protected]
Tom W. Webb, [email protected]
Alternates: Richard C. Mosier, MAI, [email protected]
Richard M. Borys, [email protected]
M. James Tiedemann, [email protected]
Millie K. [email protected]
Advertising Policy1. Advertisements must be camera-ready.2. Advertisements must represent closely-related businesses or
services to the real estate appraisal field.3. All advertisements submitted for publication are subject to
the Editor and Publisher’s approval.4. Appeals for rejections will be submitted to the Board of
Directors and their decisions are final.5. Fees are as follows:
Member Non-Member
Full Page 7" x 10" $165 $175Half Page 7" x 5" or 33⁄4" x 10" $ 90 $100Quarter Page 31⁄2" x 41⁄2" $ 50 $ 601/8 Page (Bus. Card size)
31⁄2" x 2" $ 30 $ 40
Colorado Chapter does not endorse any product or serviceadvertised in this newsletter.Send camera-ready copy and check to:
Appraisal Institute, 1540 S. Holly, #5, Denver, CO 80222
If you have questions, please call 303-691-0487Outside Denver metro area 1-800-571-0086
www.colo-ai.org
Admissions - Member Retention & DevelopmentGeneral:
Charles Nelson, MAI [email protected]:
Claudia D. Klein, SRA [email protected] News Editor
Barb Kazmarek, MAI [email protected]
Richard C. Mosier, MAI [email protected]’ Coordinating
General: John (Jack) W. Nisley, MAI ........jnisley@qwest office.net
Residential: Nancy L. Wyatt, [email protected] Chilcutt [email protected]
Associate GuidanceGeneral:
Timothy Lindsey, [email protected]:
Steve Snyder, [email protected]/Program
Margaret Moore [email protected] Relations
Rodman Schley, [email protected] Dickinson, [email protected]
Planning Committee for 2010Doug Nitzkorski, MAI [email protected]
Public RelationsDonald E. Boyson, MAI, SRA [email protected] G. Stahl, MAI, [email protected]
WebsiteDeane Davenport, MAI, SRA..................................deane.davenport@bankofthewest.com
OUTGOING PRESIDENT’S REMARKSby Michael Sullivan, MAI, SRA, AI-GRS
FIND AN APPRAISERCOLORADO CHAPTER MEMBERS OF THE APPRAISAL INSTITUTE
PLEASE BE ADVISED THAT THE COLORADO CHAP-TER OF THE APPRAISAL INSTITUTE MAY NOT SPE-CIFICALLY RECOMMEND AN APPRAISER.WHEN THE CHAPTER OFFICE RECEIVES A PHONE CALL REQUESTING THE SERVICES OF AN APPRAISER WE MAY ONLY DIRECT THAT CALLER TO THE WEBSITE AND RECOMMEND THEY CLICK ON “FIND AN APPRAISER NEAR YOU”THIS POLICY IS ASSOCIATION BEST PRACTICE AND IS MANDATED BY THE APPRAISAL INSTITUTE.
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Happy New Year!!
At this point, 2016 is a blur of frenzied report writing and number crunching to figure out where this mar-ket is headed. We’re now 17 years into this millen-
nium, and it seems we’ve hit the rebellious teen-ager stage. Colorado’s economy and employment is growing, but wages are increasing at the pace of a Sumo wrestler climbing a 14er. Homebuyers are writing clauses in contracts that they are willing to disregard the appraiser’s opinion of property value. Does this feel like irrational exuberance to anyone? Finally, there is more residential appraisal work than anyone can handle, yet the barriers to entry for new appraisers are so high that most find it too daunting to pursue. We need solutions…yesterday.
Fortunately, we’ve all been preparing for this for several years. Members of our chapter have been refining their craft, adopting new technology to enhance efficiencies, and learning to use analyt-ical tools to provide better support for their value conclusions. If you’ve been working on any of these activities, you are the future of the appraisal business, and now may be an opportune time to consider hiring a trainee.
I am honored to begin this year as president of the Colorado Chapter of the Appraisal Institute. This year, I encourage all the members of our chapter to learn something new, adopt new tech-nology that will enhance operational efficiencies, and invest in the next generation of real estate professionals.
INCOMING PRESIDENT’S REMARKSby Jon Vaughan, MAI
PUBLICLY AVAILABLE DATA FOR PHOTOVOLTAIC SYSTEMS
by Lisa Desmarais, SRA
In the past, it has been very difficult to gather information related to photovoltaic systems. Now the time and effort needed to research can be greatly reduced. The National Renewable Energy Laboratory (NREL)’s has created a new public data website called the Open PV Portal. An appraiser can search by zip code and PV size to find a list of systems installed in that area. In their release statement, the laboratory states the following about the source: This is a “new pub-lic data resource, containing data records for more than 800,000 distributed solar photovoltaic (PV) systems installed in the United States.” The information contains data for both residential and commercial systems.
The website can be accessed at https://openpv.nrel.gov/
It is time to start planning your 2017 education schedule!MAIandSRACandidatesforDesignation:AreyouconsideringtakinganAdvancedLevelclassin2017?
You may be eligible for a scholarship that will cover the cost of the course*:c AIEducationTrustAICourseScholarshipc AIEducationTrustMinorities&WomenAICourseScholarship
Applications are due by January 1!**
TheAIEducationTrustawardsscholarshipsquarterlytoworthycandidates.
ThenextdeadlinewillbeApril1,andthe2017educationschedulesarenowavailable-it’snottooearlytostartthinking about scholarship opportunities for 2017.
FormoreinformationonAIEducationTrustandscholarshipsavailable,visitourwebsitenow.Haveaquestion,pleaseemailusateducationtrust@appraisalinstitute.orgorcall312-335-4133.
*ScholarshipsONLYcovertuitionforAdvancedLevelcoursesneededfordesignation.Capstone,DemoOptionsandtheComp Exam are not eligible for scholarships.
**ApplicationswillonlybeacceptedforcoursesbeingheldafterMarch15,2017.
Page 5
I was waiting for an Uber ride to take me to a meeting with some bankers in the Midwest about the appraisal profession. I had previously moved around this mid-western city in via Uber. I was staying at a Hyatt, waiting for the Uber, and noticed the taxi-cabs all waiting in a row, waiting to be called for customers. I was standing there about ten minutes, and in that time, I noticed that seven people were picked up by what was clearly an Uber driver. In that whole time-not a single taxi was hailed. I noticed the taxi drivers standing outside their cabs, watching for the hope of work. Their expressions were bleak. How times have changed. As I got into my Uber-I thought about how professions adapt and change to meet chang-ing market forces.
I was going to a meeting with some state bank-ing officials to address that very issue. The offi-cials are concerned about the banks in their state and the difficulty in meeting banking needs on turn-around times for appraisals. They feel their member’s pain in obtaining timely appraisals from competent appraisers. They are concerned about what the future looks like, and if they have any opportunity to make decisions or provide input that will help the process.
The nation’s banks are now tasked with lower-ing the raising costs and turnaround time for their
valuation needs. This is more difficult when the smaller lenders are competing with larger banks and mortgage companies that have large in-house resources. Smaller banks and financial institu-tions are now faced with a new set of challenges with the need to carefully and compliantly vet and manage their third-party service providers. Banks that find good partnerships that can offer a range of required services at affordable prices will be more successful at reducing overall costs and time than those who do not.
Compliance has also created challenges when it comes to managing the quality of the valuation products and their output the banks must rely on. Larger banks have compliance positions assigned with the responsibility to manage the valuation process but, these positions don’t exist in smaller lending institutions with fewer staff to deploy on such tasks. These extra responsibilities have added to the cost and turn-around times associ-ated with the whole appraisal process. Hence the meeting among stakeholders to discuss solutions.
While I was in meetings, a few things happened. The first was the announcement that Freddie Mac may no longer require appraisals in all situations. There is also recurring discussion about changes in the de minimus that could impact the volume and the need for appraisals. Couple with this (quite the eventful week) was testimony before congress by several luminaries in the valuation firmament. While I was absent-mindedly watching the testi-mony, I kept getting texts from people.
“Who chose these people?”“Why aren’t they addressing the true issues?”“Why aren’t they giving a straight answer about
the underlying problems?”“Why isn’t an appraiser part of the group testifying?”
That last was a good point. There was one good witness- AI’s Washington office director- Bill Gar-ber. Bill gave good testimony and I was proud of the message he brought. The rest did little to develop compelling solutions. To demonstrate the complexities of the current system, one stake-holder, in a recent presentation to Congress, cre-ated the following process/regulatory diagram:
Guest EditorMaybe This Time It’s Different – or Not
By Mark R. Linné, MAI, SRA, AI-GRS
(continued on next page)
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Page 6
The truth is that as government forces intruded more and more into our profession, our ability to control our futures diminished and declined. There are two kinds of businesses in the country: the highly-regulated and the highly-regulated. We are in the latter group.
Unlike normal businesses, where you have a product or service and you sell it to a client/cus-tomer, we exist in a strange world where true market forces have become oddly distorted and upside down.
I watched the bankers in the room as they looked over the diagram. “Why isn’t there just one govern-ing authority?” one of them asked. I explained that that isn’t the way the government structure works. I noted that the individual states were given certain responsibilities, and numerous other stakeholders have gradually been added to the mix.
The banker’s association execs looked around to the assembled group and asked what the answer was. My answer was simple. If government is the problem, then having a myriad government agen-cies at the state and federal levels makes even less sense.
I’m not sure if the solution comes from the gov-ernment, as I’m sure a huge amount of the blame clearly comes from that corner. I’m also not sure that we can reclaim any significant role by our-selves from the tentacles of the federal apparatus that has grown to surround everything we do.
The bankers in the room heard my complaint, but is clear that they had little sympathy, given how incredibly regulated banking has become over the last decade. They really didn’t care what the problem is-they just want it fixed. After talking
with the bankers, it’s clear that this is a problem that is bigger than appraisers and their issues. If appraisers cannot solve their own problems-I get the feeling that others will. That is no different than what we have seen before-where “others” like AMCs, felt that they had the answer, and in so pursuing their agenda, made a bad thing even worse. We don’t need a repeat of that.
On the way back to the airport, a taxi was my only option. I looked around the cab and noticed how neat it was, how gracious the driver was, how dif-ferent the experience was from the other thousand rides I’d taken in my life. “How has Uber changed the way you operate your business” I asked the driver. She looked at me in the mirror, disgust plain on her face. “Business is down” she admitted. I can’t believe how quickly it has happened”. She went on to tell me, in a speech she had clearly given a hundred times, about the safety issues with Uber, how you were taking a lot of chances, and spun a few anecdotes about the downside of not taking a cab. Despite her words, the cab was cleaner-she had been very pleasant and responsive. Taxi were reacting to and competing with Uber. Would it be enough, I asked her? “Who knows?” she answered reflectively. I’ve been doing this for 13 years. I take pride in my work. I don’t know what I would do if I couldn’t drive a cab”. True enough.
I’m sure I don’t have to draw the parallels in dark ink. We too have been blindsided by new technology, new and changing needs, and a regu-latory straight-jacket so tight that are contortions to date have been remarkable. Yet we survive.
(continued on next page)
Maybe This Time It’s Different – or Not (continued)
Page 7
What do we need? If we are to have govern-ment involvement in our profession, I suppose I would prefer one central authority to oversee our interests and the public good. The regulation isn’t going to go away. If it could just be manifest in one place and judiciously and uniformly adminis-tered-perhaps that could give us a chance. If not the government-maybe someone else. Bankers? Who knows. There are a lot of stakeholders in this game. I do hear an undercurrent that says if the status quo is broken, then maybe any change is an improvement.
I know that there are efforts afoot with some of the recent industry consolidation among appraisal firms, data providers and the like to re-invent the profession (and remake it in who’s image, I won-der?). We are talking about a multi-billion-dollar book of business, after all, so something could come of that. I was on a conference call with some of them last week. “The existing paradigm, for all intents and purposes is dead” one of the execs intoned. Perhaps-but what replaces it, I wondered?
There is no doubt that the appraisal indus-try has been seeing turmoil over the last several years. Without a clear leader, forces private, public and legislative have seemingly foundered in any attempt to broadly redefine and productively solve the problems inherent in the current valuation environment. It is critical to recognize that if val-uation if unsuccessful-then the financial services and banking sectors must deal with the aftermath.
In the meantime, maybe this time something will be different. Maybe this time, we will have a chance of seeing some housecleaning, some con-solidation. Maybe this time, things will be made right.
Maybe this time.We’ll see.In the mean-time I wait.
Mark R. Linné, MAI, SRA, was selected as the 2012 win-ner of the Valuation Visionary award by the members of the Collateral Risk Network, made up of the nation’s Chief Appraisers, GSE’s and key national stakeholders, Mr. Linné is recognized as the nation’s leading valuation futurist, as well as an author or co-author of four books, more than 50 articles, keynote speaker, presenter, expert witness, blogger, inventor with two patents, columnist, instructor, course developer and serial entrepreneur and presently serves on the Editorial Review Panel of The Appraisal Journal, and the Appraisal Institute’s Strategic Planning Committee. Mark can be reached at [email protected].
Maybe This Time It’s Different – or Not (continued)
JIM AMORIN, MAI, SRA, AI-GRS PRESENTS THE CHAPTER PRESIDENT’S PIN TO INCOMING COLORADO CHAPTER 2017 PRESIDENT, JON VAUGHAN, MAI.
Attending the Chapter Leadership Program, Jon Vaughan and Sherry Engleberg enjoyed presen-tations by Appraisal Institute officers and staff. Round table discussions and breakout sessions were extremely informative and many updates and much information was available. The Appraisal Institute welcomed us to a reception that made it possible to meet and communicate with incoming Chapter Presidents and Chapter Executive Direc-tor’s from across the country.
ONLINE EDUCATION: LEARN AT YOUR OWN PACE
ANYTIME, ANYWHERE!Top-notch Appraisal Institute courses and seminars come straight to your desktop with online education!. Learn from any computer anywhere, whenever you have time. It’s easy, convenient and a great way to get the education you want. Check out the current course listing now!
www.appraisalinstitute.org/online EDUCATION
Click on the link for online education.
Page 8
Once again the Colorado Chapter of the Appraisal Institute held its annual, successful Fall Event semi-nars in Breckenridge. Topics and presenters included:
Friday: “Valuation Challenges Appraising Properties in Resort & Mountain Communities” — Presenters, Ben Davidson, MAI, SRA, Blake & Associates, LLC and Martin S. Kane, MAI, President, Western Econo-metrics, Inc. Discussion of appraising residential properties; understanding views, topography, south-ern exposure and how it can be handled in the site adjustment; understanding the risk associated with non-residential properties in rural mountain mar-kets and how it affects cap rates; understanding local markets and their economic conditions.
Saturday: “Developer’s Perspective, The Rent vs Buy Dilemma” — Presenters, Mike Rinner, MAI, AI-GRS, Sr. VP, Meyers Research, Jeb Marsh, Meyers Research, Ken Marsh, Owner Bridge Centers, Lone Tree Development, Ron Tipton, ACI, CRI, President, Comfort Home Inspection. Discussion of build-ing apartments vs condos and location, perspec-tives given about making the development process and information about the sales/marketing/valua-tion scenario, understanding inspections and what appraisers need to know and what is the history of why inspections and what is the difference between inspectors and appraisers.
Sunday: “Hotel Appraisals & CO Lodging Market Trends” — Presenters, Bobby Craig, AIA, Arapahoe Architects and Bethany Cronk, Sr. VP, HVS. Discus-sion of the preservation of the landscape and how commercial construction & renovation requires
detailed understanding of local land use & zoning regulations as well as a solid understanding of a com-munities design aesthetics; letting appraisers know about building, architecture & design; is green build-ing still relevant and have new codes affected costs & design? Discussion of hotel appraisals, market stud-ies and feasibility analyses for lenders, developers & hotel owners; private & public hotel development projects involving lodging site & brand analysis.
Colorado Chapter of the Appraisal Institute presented
Annual Fall Event!!! Beaver Run Resort & Conference Center, Breckenridge, CO • September 9, 10, 11, 2016
FALL EVENT CHAIR: Brent Henry, SRA, AI-RRS
COMMITTEE: Jason Letman, MAI, Ron Holm, SRA, Justin Atwell, MAI
AUDIENCE
Ron Tipton and Ron Holm
Bobby Craig and Jason Letman
Page 9
2016 Annual Fall Event (continued)
Brent Henry, Michael Sullivan, and Ken Marsh
Jeb Marsh, Justin Atwell and Mike Rinner
Jason Letman and Bethany Cronk
Ben Davidson and Steve Kane
Ron Tipton and Justin Atwell
Page 10
For the second year our successful Colorado Chapter Membership Meet-ing and Social was once again held at Tony P’s Restaurant. Members and guests were welcomed by 2016 Chapter President Mike Sullivan, MAI, SRA, AI-GRS. During the membership meeting, Mike presented the MAI Designation Certificate to Michelle Volker, MAI.
Again, we enjoyed the private room for our gathering and thoroughly enjoyed the time for conversation, cocktail, and wonderful Italian food with our peers!
Thank you, Colorado Chapter Members!
4th Quarter Chapter Membership Meeting/SocialOCTOBER 20, 2016
Mike Sullivan, MAI, SRA, AI-GRS, 2017 Colorado
Chapter President
Page 11Page 11
Page 12
1. Where were you raised? What brought you to Col-orado? How long have you resided in Colorado?
Born and raised in Defiance, OH…. A small rural town in northwest Ohio. I came to Colorado in 1999 to attend the University of Denver, where I was a member of the gym-nastics team. After graduat-ing college in 2003, I moved back to Ohio and worked for a property management com-pany (Buckeye Real Estate) near The Ohio State Uni-versity, managing student housing properties. I quickly realized I missed Colorado, and decided to go back to the University of Denver to obtain my Masters of Science in Real Estate and Construction Man-agement in 2004. I graduated with my master’s degree in August 2005 and began working in the appraisal industry that same month.
2. Do you want to list mentors along your suc-cessful path? Why did you choose to be an appraiser?
I began working for Integra Realty Resources in August 2005 as an analyst for Tim Baltakis. I became licensed, then became certified gen-eral, and began the MAI path all while under his guidance. I still go to him with questions from time to time! I took an appraisal class in college, really liked it, and thought it would be an interesting career. I like how you get to leave the office to inspect properties, and in doing so, I’ve really learned my way around Denver
quite well! It’s also pretty neat to be driving down the highway, and see proper-ties under construction, and be able to say to myself…. Wow, I had a part in getting that project built.
3. Do you have any valuable lessons that you would like to share?
If your goal is to become an MAI, don’t give up! Don’t get disheartened if you fail a section of the comprehen-sive exam (you can always retake it!), or if you simply don’t think you have time to do it. It took me 2½ years to write my demo (getting married, buying a house,
and having a baby will keep you pretty busy), but you have to just keep chugging along. My dad has always told me, “If you can conceive it, you can achieve it.” My goal was to become an MAI, and I achieved that by simply not giving up.
4. Future plans? Enjoying all the free time I have that is no lon-
ger consumed by writing my demo!
5. Personal information, please. Single, mar-ried, etc…. (if you wish).
Married to my wonderful and supportive hus-band, Luke. We have a very active 18-month-old son, Logan, who keeps us on our toes!
6. Hobbies? Fly fishing, running, and spending time with
friends and family… including our two Great Danes, Beau and Bella!
Congratulations on Achieving Your Designations!
DESIGNATION PRESENTATION TO MICHELLE VOLKER, MAI
