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Tel. (402) 933-4040
harnessappraisal1@gmail.com
 
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March 20-22, 2019
Education

Ramkota Hotel Casper
800 N Poplar Street
Casper, WY
307-266-6000

The WYOMING
&
WESTERN SOUTH DAKOTA CHAPTER

WILL OFFER

"Ignorance isn't Bliss"
Craig Steinley, SRA, AI-RRS
March 20, 2019
12:30 pm - 4:30 pm

"Residential Cost Approach"
Craig Steinley, SRA, AI-RRS
March 21,2019
8:00 am - 4:00 pm

"Advanced Land Valuation: Sound Solutions to Perplexing Problems"
Rick Carlile, MAI
March 22, 2019
8:00 am - 4:00 pm

Class sign-in at 8:00 AM

To register, go to:
Appraisal Institute Education

OR

Call Lynnsey Lyden: 402-933-4040

Lunch, coffee, and snacks included

Reserve a Hotel Room:
Ramkota Hotel


Lynnsey Lyden, Executive Director
WY & Western SD Chapter of the Appraisal Institute
402-933-4040
harnessappraisal1@gmail.com


Summary of Courses

"Ignorance isn't Bliss: Understanding an Investigation by a State Appraiser Regulatory Board or Agency"

A regulatory complaint has been filed against you. Now what? Discover why state boards and agencies make the decisions they do, what federal oversight requirements guide them, and how a state regulator’s investigation (including disciplinary action) proceeds by peeking behind the regulatory curtain. Developed by Craig Steinley, SRA, AI-RRS, current President of AARO (Association of Appraiser Regulatory Officials), with input from regulators and board members (who are appraisers) and attorneys who defend appraisers, this 4-hour seminar discusses who files complaints, due process for an appraiser, and the steps to take when you are named in a complaint. With this knowledge, you’ll have an advantage in resolving a complaint and better yet, avoiding one in the first place!

Upon completion of the seminar, participants should be able to

  • Recognize distinctions in function and process between an appraiser board and an appraiser regulatory agency
  • Identify events that lead to complaints against real estate appraisers and ways to channel that energy to bring about a better outcome
  • Identify the steps an appraiser may take when notified that a complaint against the appraiser has been received by the regulator
  • Analyze both the perspective and the due process requirements of the regulator and its investigator when processing and investigating an allegation or complaint
  • Itemize how a state regulator processes a complaint and the possible outcomes along the way—from intake through the response, investigation, findings, and eventual disposition and possible sanctions
  • Discover various appeal options available to an appraiser in the event of an adverse disciplinary finding and sanctions

"The Cost Approach: Unnecessary or Vital to a Healthy Pratice?"

The participants in the secondary market often suggest to residential practitioners that the cost approach is unnecessary for credible assignment results, or at least is not relevant to valuing a 1-4 unit property. This is highlighted in the Fannie Mae Selling Guide, as one example, where the cost approach is only required for the valuation of manufactured homes. Unfortunately, this mindset will often limit the potential professional growth and diversity of an appraiser, and leave him or her ill-prepared for the atypical assignments that would otherwise grow and strengthen their practice. More importantly, a decline in the day-to-day use of the cost approach leaves a residential appraiser with an incomplete ability to properly support adjustments in the sales comparison approach, to understand trends in market conditions that are often driven by building costs, and to recognize and quantify the forms of depreciation that can affect residential improvements. Appraisers often repeat that "cost doesn't equal value." By the same token, failure to truly understand the cost approach limits the value of an appraiser to his or her clients. Through a combination of lecture and case studies, this 7-hour seminar will allow residential appraisers to regain and/or strengthen their proficiency with the cost approach so that they can rely on its indications when they have plentiful market data, very little market data, or confusing market data.

    "Advaced Land Valuation"

    By examining unusual and complex land valuation assignments, this seminar takes concepts covered in the Appraisal Institute curriculum to the next level. Besides lecture, discussion, and Q&A, sample case studies will demonstrate, primarily in Excel, conceptual and practical applications that participants will be able to incorporate into their day-to-day work. Suggested solution strategies for these assignments will be provided.

    Upon completion of the seminar, participants should be able to

    • Recognize distinctions in function and process between an appraiser board and an appraiser regulatory agency
    • Utilize a land residual technique based on a DCF analysis to value land intended for two alternative competing uses (for rental apartments versus for-sale condos)
    • Determine the highest and best use of land when the legally permissible, physically possible, and financially feasible use(s) are very uncertain and cannot be determined using traditional methodologies
    • Determine land value when its value is a function of a curvilinear relationship with its appropriate unit of comparison (in this case the value of land suitable for apartment development as a function of density)
    • Determine land rent using a non-traditional unit of comparison (in this case land rental value based on average traffic volume)
    • Estimate the value of land subject to a long-term ground lease with multiple forms of financial benefits accruing to the land owner

    AI CE Credit for Designated Members and Practicing Affiliates

    Who Should Enroll
    General and residential certification-level appraisers
    Consultants, real estate agents, land owners, land use planners, developers, investors

    Prerequisites
    None

    Level
    Basic/Intermediate