12B — Octob er 10 - 23, 2014 — New Jersey — M id A tlantic

Real Estate Journal


Southern New Jersey Chapter www.ai-snj.org Telephone 856-415-0281 • Fax 856-415-1952

September Symposium: Success!

Southern NJ Chapter Appraisal Institute 2014 Chapter Officers


ver 70 people attended the 19th Annual September Symposium on Wednesday, September 10th, making the best attended Symposium since the 2010 event! The event, held for the second year at the Crowne Plaza inMonroe Township, featured 5 speakers. While it offered 7 CE hours of credit, there was A LOT of information packed into the time. Breaks were few & far between, keeping the pace moving briskly.

President Jacob Ramage, MAI VP Michael S. Sapio, MAI Treasurer Albert Crosby Secretary Edward T. Molinari, SRA Director (Term through ’16) Michael Descano Director (Term through ’16) Samuel Levi, MAI Director (Term through ’15) Errett Vielehr Director (Term through ’15) Robert Kirwan, SRA Director (Term through ’15) Jackie Marmur Director (Term through ’15) Timothy W. Sheehan, MAI, SRI Director (Term through ’14) James Carr Director (Term through ’14) Joshua Garretson

Jeffrey Otteau , president of Otteau Valuation Group , presented The State of the Industry in NJ . Many people in the room had heard him present before, but they said it was his most informative lecture yet! His session explored the interplay between current circum- stances and long term real estate patterns inNew Jersey. Topics covered included the sustainability of the current rebound in home sales, long term apartment rental de- mand, the effect of an expanding global online economy on demand for warehouse and retail space, the chronic weakness in suburban office buildings and the emergent need for adaptive-reuse. PamBrodowski, MAI , is a chapter member --- and an expert of current affairs in Atlantic City. She presented The State of Affairs in Atlantic City . As everyone knows, Atlantic City is in a great deal of distress, and is truly heading towards great changes. The financial im- pact will be severe. Those in attendance got an up-to-date look at the state of affairs in AC, casino sales/auctions, declining land values and commercial values, declining tax base and rising tax rate and heard possible plans that AC has for the future. The next presentation, Assessment of Personal vs. Real Property and Intangible Assets , discussed the processes, challenges and insights of separating out the values of the various types of property from the experience of the appraiser witnesses in the case of complex property tax appeal appraisals and trials, including settlement conferences and negotiations. This 2-hour session was presented by Jeffrey Gradone, Esq. , and Mark Po- mykacz, MAI, MRICS . Information presented by both of themwill be used by many in attendance, guaranteed!

Jeffrey Otteau

Dennis Scardilli, Esq, MAI

Dennis Scardilli, Esq, MAI , closed out the day with his presentation Watch Your Back: HOT TOPICS in Appraisal Law . He gave updates on what is going on with the FHA, BPOs, NJ & PA Real Estate Appraisal Boards, disciplinary issues, reviewer exposure, and submission of reports for experience credit and more. Feedback from the event has been very positive. The location is convenient to the turnpike and the food was good & plentiful. And, most importantly, people reported that they found all of the

presenters interest- ing and informa- tive. Additionally, attendees said that the topics were very timely and current to what is going on in the industry. If you didn’t join us this year, we hope to see you at the 20th Anniversary event next Septem- ber! Our next event is a chapter dinner

Over seventy people attended the 19th Annual September Symposium

meeting on November 13th at the Adelphia in Deptford. We will hold a Business Practices and Eth- ics class on November 21, and the 7 Hour National USPAP Update course on December 5 --- both at the Adelphia. For more information, email lisamayweiss@hotmail.com or visit www.ai-snj.org. The Appraisal Institute is a global professional association of professional real estate. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. n

President Ex Officio Jerome McHale, MAI

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