8B — July 22 - August 18, 2022 — New Jersey — M id A tlantic Real Estate Journal
www.marej.com
Southern New Jersey Chapter www.ai-snj.org Telephone 856-415-0281 • Fax 856-415-1952 UPCOMING EVENTS
For more info and registration links, visit www.ai-snj.org
JOINT MEETING WITH THE PHILADELPHIA METRO CHAPTER! September 22, 2022 at Topgolf, Mount Laurel 2 CE hrs Seminar from 10am-12pm, then lunch and Topgolf! Infrastructure and Energy Innovation
Instructor: David Wilk, MAI
• Appraisers will better understand the transformation of our society and systems through infrastructure development and P3's. What infrastructure is, how it should be thought out in today's ever-changing real estate environment, and how to value the changes infrastructure will be discussed. • What is “Green Energy”? What is “District Energy”? Are all types of green energy clean? What is the market potential for solar and wind projects? This session focuses on utility-scale wind and solar green energy, including a case study and specific current data on land values now and in the future. SEMINARS AT THE SHORE! September 30, 2022 at the Golden Nugget, Atlantic City Instructor: Vince Dowling, MAI, SRA Setting the Stage for Inputs: An In-depth Look at an Inferred Market Study (8:30 am – 12:30 pm) 4 CE hours • Appraisal reports convey opinions and conclusions that are to be based on credible market support. However, the reality is that this does not always occur. USPAP requires the appraisal to have market support, sound reasoning and logic for adjustments in a comparison analysis, all components in a cost analysis and the multiple aspects of an income analysis. This program will address the need for meaningful market analysis for properties that commonly transact and are located in relatively stable markets, using industry approved and peer tested techniques within the Six Step process. • We will focus on how this can be accomplished in an inferred market study. Market analysis precedes and is the underpinning of the highest and best use analysis and conclusion. Many valuation reports convey opinions but often lack the underlying data and analysis to support the opinions and conclusions expressed in the report. The underlying market data and its analysis is often poorly communicated due to clients requesting a quick turn-around time frame or the impact of other restrictions. • This program delves into all aspects of an Inferred market analysis which is the underpinning of a meaningful highest and best use analysis and conclusion. Each step in the Six Step process will connect theory and practice to assist residential and non-residential practitioners in writing more complete and meaningful appraisals, regardless of the medium used to communicate the report. The goal will be to offer pragmatic ways to comply with USPAP and allow clients and intended users to more fully understand all the work done by an appraiser. The program is designed to show how USPAP and appraisal practice and theory can be presented in a succinct manner that will be meaningful to users while demonstrating the depth of research and analysis that trained and experienced appraisers bring to assignments. The intent is to protect the general public and meet the obligation expected in this industry. Risk and Equity’s Role (1:30 pm – 4:30 pm) 3 CE hours • The program reviews the underlying risk factors that impact all real estate & the role of equity when acquiring and owning real property. Appraisal assignments generally seek to value the whole property as of an effective date and practitioners use the methods and techniques taught academically & gained while on-the-job. We will review factors that contribute to many factors including but not limited to overall & yield rates. It views investments from both the lender & equity investors positions. • While the various types of risk will be discussed, tools used by lenders will also be reviewed. Salient issues such as loan-to-value ratios, breakeven analysis, sensitivity need to be addressed when valuing income producing property. While most of the program will be relevant for the general practitioner, many risk issues are confronted by residentially valuers. • This short program will also focus on the role equity plays when evaluating the real property rights. The program looks at the appraiser’s responsibilities as its pertains to the role of equity under USPAP, Interagency Guidelines, and similar documents such as Florida Statutes Title XXXII Regulation of Professions and Occupations which are used to evaluate the reasonableness of an appraisal service. New Jersey Appraiser Law & Regulations Thursday, October 27, 2022 2 CE hrs Seminar from 4-6pm, followed by dinner & chapter meeting Adelphia Restaurant (downstairs), 1750 Clements Bridge Road, Deptford Instructor: Mary Fox, MAI Valuation of Conservation Easements November 1-4, 2022 28 CE hrs + 2 hr exam Rutgers Eco-Complex Conference Center, 1200 Florence-Columbus Road, Bordentown Instructor: Susanne Curran, MAI, AI-GRS Complex Valuation Friday, December 2 7 CE hrs Adelphia, Deptford Instructors: Randall Bell, MAI, PhD, and Michael Tachovsky. PhD of Landmark Research • 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 Appraisal Institute’s Commitment to Diversity The Appraisal Institute empowers individuals and nurtures an environment that inspires and encourages diversity, equity and inclusion. The Appraisal Institute is helping lead an Appraiser Diversity Initiative with Fannie Mae, Freddie Mac, and the National Urban League. The initiative is intended to attract new entrants to the residential appraisal field, overcome barriers to entry (such as education, training & experience requirements) and to foster diversity. Working through the National Urban League's regional Entrepreneurship Centers, The Appraiser Diversity Initiative is designed to reach diverse, talented candidates and educate them about the appraisal profession; provide resources for interested candidates to help them get on a path to success; and offer guidance from appraisers employed by Fannie Mae and Freddie Mac. For more information, refer to the national website: https://www.appraisalinstitute.org/appraisal-profession/commitment-to-diversity/ For information about sponsoring the ADI program, contact Brian Rodgers, Manager of Federal Affairs: brodgers@appraisalinstitute.org
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