12D — November 18 - December 22, 2022 — The Lenders Directory — M id A tlantic Real Estate Journal


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

Southern NJ Chapter of the Appraisal Institute Offers Unique Course


PRESIDENT Joseph V. Heenan, MAI, SRA jheenan@gsvcsllc.com VICE PRESIDENT Sherrie Lisa Galderisi, SRA, AI-RRS Sherrielisa43@aol.com TREASURER Robert Klein, MAI, AI-GRS Rob.klein@cushwake.com

On November 1-4, the Southern NJ Chapter offered the course Valuation of Conservation Easements. The four day offering was held at the Rutgers Eco-Complex Conference Center in Bordentown. It was a new location for us, but we will use it again --- it is easy to get to from Rte 295, and fits our budget in planning to keep courses affordable for you! The class brought 13 students in from across the country including Texas, Alaska, Oklahoma and Washington State! Valuation of Conservation Easements is an advanced course designed for the appraiser who understands the methodology in the approaches to value and is ready to embark on understanding the intricacies involved in one of the most misunderstood and difficult types of appraisals. The intensive program familiarized participants with conservation easement valuations in a variety of situations, including conventional appraisals, appraisals that are required to comply with the Uniform Appraisal Standards of Federal Land Acquisitions , and appraisals involving non-cash charitable contri - butions that are required to comply with IRS standards. Learning objectives were accomplished through a series of lectures, in-class discussions, problem solving, homework assignments, and case-law analysis. The class was instructed by Susanne M. Curran MAI, AI-GRS. She has been an AI commercial course and seminar instructor for 15 years, including teaching this course. She has seven years of experience as an AQD-Certified USPAP Instructor. She has personally appraised approximately 100 conservation easement properties in PA and NJ, and reviewed many more. She was the sole “outside consultant” appraisal reviewer relied upon in the 2020 US Senate Finance Committee Report on “Conservation Easement Syndication Fraud'' (Chapter 8- Inflated Appraisals) which has resulted in proposed bipartisan legislation, The Charitable Conservation Easement Program Integrity Act of 2021.

SECRETARY Mary Fox, MAI foxmai@aol.com

DIRECTORS Joshua D. Garretson, MAI, AI- GRS, AI-RRS

Lee Ann Kampf, MAI

UPCOMING EVENTS For more info and registration links, visit www.ai-snj.org Adelphia, Deptford Instructors: Randall Bell, MAI, PhD, and Michael Tachovsky. PhD of Landmark Research Complex Valuation Friday, December 2 7 CE hrs • Complex Valuation is a new seminar developed to give appraisers the skills to value both detrimental and beneficial conditions. The field of “complex valuation” involves the real estate characteristics that are “atypical.” (Federal Regulations Part 34.42.). • Many, if not most, valuation assignments involve a straightforward application of the cost, income and sales comparison approaches to value. However, frequently complex issues arise that involve either beneficial or detrimental conditions that can influence the value of real estate. For example, beneficial conditions might result in an increase in value, such as discovering minerals or oil on grazing land. Detrimental conditions could result in a diminution in value, such as natural disasters or environmental contamination. • As real estate appraisers, understanding these complexities helps in developing a credible opinion of value in these types of assignments. Although many complex issues are addressed throughout appraisal literature and coursework, they are not presented as a single framework. The purpose of the Complex Valuation course is to provide real estate appraisers with a comprehensive understanding of the topic and focus on these various property conditions and the valuation methodologies to address them. Instructors present with a comprehensive PowerPoint presentation. SAVE THE DATE: December 6 -- Installation of Officers and Directors/Holiday Dinner, Terra Nova, Sewell

Jerry McHale, MAI

Maria Nucci, SRA, AI-RRS

Meghan Payne, MAI

Kathleen Turley

PAST PRESIDENT: Michael Descano, MAI


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