the alabama appraiser - appraisal institute – … chapter of the appraisal institute first quarter...

Alabama Chapter of the Appraisal Institute

First Quarter 2016

The Alabama Appra iser Announcements:

Chapter Meeting

Orange Beach June 17

Fun In The Sun Fish Fry Dinner

For More Information

Go To:

www.aialabama.com

Inside this issue:

Message From the 2016 President

2

AI-GRS

1st Chapter Meeting 2016

4

Meetings & Events 5

ACRE Conference 6

AI After Hours 7

Expert Witness Seminar

8

2016 Education 10

Scholarship Program

11

2016 Incentive Program

12

VOD 3

The Alabama Chapter’s New Website

The Alabama Chapter has introduced two new digital media initiatives with the new website and a facebook page. With the development of a new website template by national the chapter took the opportunity to update the chapter’s website because the code it was written in was outdated. The new website is more user friendly with lots of useful information. Please visit it frequently to keep updated on chapter happenings. www.aialabama.com.

Following on Facebook provides current post of chapter happenings.

The Alabama Chapter’s New Facebook Page

Follow Us at: https://www.facebook.com/aialabama/

The Alabama Chapter’s New Digital Media

Happy spring! I want to challenge everyone to be active with issues relating to the appraisal profes-sion. I’ve been in the profession nearly 25 years and the issues that lie before us consist of some of the greatest chal-lenges since the inception of licensing and US-PAP. Due to the appar-ent concern of a shortage of appraisers, The Ap-

praisal Foundation (TAF) is considering changes to the requirements to be-come a Certified Residen-tial Appraiser. TAF re-cently released a whitepa-per describing proposed changes to the require-ments to become a certi-fied residential apprais-er. These changes include the following:

• Alternative Track for Licensed Residential to Certified Residential • Enhanced Practicum Curriculum • Documenting Alterna-tive Experience • “Trainee” Nomenclature • Three-year Supervisory Residency requirement

They are looking for feed-back from appraisers, and I strongly suggest you

read the whitepaper and provide a response to The Appraisal Founda-tion. The link is as fol-lows: Discussion Draft – Potential Areas of Change to the Real Property Appraiser Qualification Criteria.

In addition, there are dis-cussions of raising the de minimis from $250,000 to $500,000 – the threshold below which an appraisal is required. Think about your market and how many properties would be below the $500,000 threshold; therefore, the financial institution would not be required to get an appraisal.

We have heard the talk or should have heard about an Alternative Standards

Message From The 2016 President:

The Alabama Appra iser

Bill. This is something that deserves our consid-eration. Tennessee is working on an Alternative Standards Bill. We can follow their progress and how it may eventually apply in Alabama.

In conclusion, please be on the lookout for ways to get involved. This is your profession; I hope you are willing to get involved to protect its integrity. I hope you have a great spring and summer. I look forward to seeing you at our next meeting.

Respectfully submitted,

Lew Watson, SRA, AI-RRS


President 2016

First Quarter 2016

Roger Ball, MAI was recognized as Volunteer of Distinction for February 2016

CHICAGO (Feb. 3, 2016) – J. Roger Ball, Jr., MAI, of Birmingham, Alabama, was recognized today as the Appraisal

Institute’s February “Volunteer of Distinction” for Region IX.

The Appraisal Institute is the nation’s largest professional association of real estate appraisers; Region IX consists of

Alabama, Arkansas, Georgia, Louisiana, Mississippi, South Carolina and Tennessee. Ball is a member of the Alabama

Chapter.

“Roger Ball is an outstanding example of the high standards held by Appraisal Institute professionals,” said Appraisal

Institute President Scott Robinson, MAI, SRA, AI-GRS. “We feel fortunate to have volunteers like Roger, who are will-

ing to devote their time and talent to helping their communities and advancing the valuation profession.”

Ball is the Alabama Chapter’s treasurer, Finance Committee chair and chair of the Education Committee, a position he

has held since 2015. He also served as chapter secretary in 2015. Ball served on the Candidate Guidance Committee

in 2013, and on the Membership Admissions, Development and Retention Committee in 2012 and the chapter’s Board

of Directors from 2012-14. Ball served on the Education Committee from 2012-14, was the chair of the Associate

Member Committee in 2012 and was the chapter’s Alternate Regional Representative in 2011. Ball received the Ala-

bama Chapter’s President’s Award for Outstanding Service to the Chapter in 2015.

He is a member of the Board of Directors for the International Center for Valuation Certification, an affiliate of the Ap-

praisal Institute. Ball served on the national Leadership Development Advisory Council from 2012-15, and was its dis-

cussion leader in 2015. He also has served as an advisor for the Appraisal Institute’s Candidate for Designation pro-

gram. Ball joined the Appraisal Institute in 2003, and received his MAI designation in 2012.

He is a senior real estate analyst at Commercial Valuation Services in Birmingham, and has been in the valuation pro-

fession for 12 years. Ball attended Birmingham-Southern College in Birmingham.

Among his volunteer activities are serving as vice president of advancement for the Birmingham-Southern College

Alumni Association, president of the Birmingham Chapter of the Coastal Conservation Association and co-chair of the

Downtown Birmingham Chapter of Ducks Unlimited.

Ball and his wife, Nancy, have one son, and are expecting their second child in May.

The Appraisal Institute’s member recognition pro-gram honors one member in good standing in each region each month for their service to the organiza-

tion, the profession and their community.


“What Does Getting an AI-GRS Mean?”

By Elton Coley, MAI, AI-GRS

I have been accepting appraisal review assignments for several years so

when the Appraisal Institute offered the General Review Specialist desig-

nation it seemed like a logical path to pursue. For designated members, the

requirements include attending the Review Theory-General class and

passing the exam. Once the class was completed, I was required to submit five review appraisal re-

ports for the Appraisal Institute to review.

As with all education classes provided by the Appraisal Institute, this class was excellent and provided

me with the necessary tools to improve the quality of my review assignments. My primary work in-

volves timberland and agriculture property, but the review class was very thorough and touched on

many different types of properties. I would recommend that any appraiser who accepts review assign-

ments attend the class and get the designation.

The first Chapter meeting of

2016 was held at the Rail-

yard Brewing Company in

Montgomery February 18th.

Chapter President Lew

Watson, SRA, AI-RRS

gave an update on the chap-

ter happenings.

The meeting was held in the Tavern

which is located in the basement of a

renovated old building in downtown

Montgomery housing the brewing

company. It was a truly a unique

place for a meeting but was well

liked by all attending.

Enjoying networking and excel-

lent food.

First Quarter 2016

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 any-

where, 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!

2016 Upcoming Meetings and Events

May 9-”AI After Hours”-Mobile-6pm Ralph and Kacoos

May 25-27-LDAC-Washington DC-Rusty Rich will be

representing the Chapter

June 17th-“Staying out of Trouble” Fun In The Sun Sem-

inar-Orange Beach with Family Style Social– Fish Fry Dinner Chapter

Meeting

July 24th-Region IX Meeting-Charlotte, NC

July 25-27-AI Annual Meeting-Charlotte, NC

September 22-23-Chapter Leadership-Chicago

October 7-”Forest Valuation for Non-Foresters”

October-Orientation and Planning Meeting TBA

December 2th-Christmas Party


The Alabama Chapter was again a sponsor at

the Alabama Commercial Real Estate Conference

put on by the University of Alabama Center for Real

Estate. The Conference was attended by over 400

representatives from various real estate related pro-

fessions. The chapter had a display table and pro-

moted the benefits of working with a designated ap-

praiser.


2016 Alabama Chapter President

Represented the Chapter at the Head Table.

Robert Wombwell, MAI Chairman of

the Pubic Relations Committee at the

display table. Below Lew Watson &

Philip Paulk talk to an attendee.

First Quarter 2016

Harvey L. Nobles, Jr., MAI

Nobles Commercial Valuation-Birmingham Received His MAI

1st Quarter Newly Designated Member

“AI After Hours”

The Alabama Chapter held its first “AI After Hours” of 2016 in Birmingham on February 18. Over

35 gathered at the Hickory Tavern in Homewood. The crowd included not only members but some from

out of town that were attending Steve Roach’s seminar “The Appraiser as an Expert Witness”.

The “AI After Hours” is intended to complement the traditional chapter meeting. They will be held

in the other 3 major cities through 2016. Mobile will have theirs on Monday, May 9 at 6pm at Ralph

and Kacoos (1595 Battleship Parkway, Spanish Fort, AL ; on the causeway). Huntsville and

Montgomery to be announced. The Chapter will provide appetizers and there will be a cash bar.

Enjoying

Socializing at The

Hickory Tavern


The Appraiser As An Expert Witness: Preparation & Testimony-March 10-11

The Judge

The Lawyers

The Expert Witness

The Jury

First Quarter 2016

First Seminars of 2016 “Understaning & Applying Litigation Skills” and

“2016-2017 USPAP Update” February 18 & 19

The Expert Witness Seminar:

Steve Roach, MAI, SRA, AI-GRS came to Birmingham to teach Part 1 of the 3 Part Professional De-

velopment Litigation Series “The Appraiser as an Expert Witness: Preparation & Testimony”. The

two day class had the greatest attendance that Steve has had the pleasure of teaching. The highlight

of the class was an “actual” trial with testimony by expert witnesses. The trial was conducted with

the seriousness and decorum of an actual court room with Steve as the presiding judge. Even those

who had testified before in court got a taste of what it was like to be the attorney and a better under-

standing of their roles.

The responses to the class were excellent giving Steve such comments as: “this was the best

class I have every had” and “he is best instructor I have ever had”. Steve will be coming back in

2017 for the next installment “Condemnation Appraising: Principles & Applications” and you will

want to make sure you sign up for this class. Watch for it on the 2017 Education Schedule.

Chuck Crider was welcomed back to Alabama teaching

two classes in Montgomery to very high marks. Teaching a

seminar he developed on Thursday “Understanding & Ap-

plying Litigation Skills” he shared the knowledge he has

gained over decades of courtroom experience. On Friday

he taught the new USPAP seminar to a full house.


2016Educational Offerings Great Classroom Education

Fish Fry Dinner at Orange Beach Again Catered By

Chet’s Seafood. Don’t Miss Out‐Sign Up for the

Seminar Today!

Birmingham–Instructor: Mark Smeltzer, SRA

May 13th- “Residential Applications: Using Technology to Measure &

Support Assignment Results”

Fannie Mae's new Collateral Underwriter (CU) requirement requires residential appraisers to prove their adjustments. This seminar provides the knowledge needed to do just that!

This seminar provides easy-to-use, highly efficient tools to supplement and enhance the traditional methods of adjust-ment and support through the use of technology. You will gain practical, hands-on, step-by-step training on how to use charts, graphs, spreadsheets, and pivot tables to support residential assignment results for market conditions; days on market; sales-to-list price ratio; adjustments for location, design, quality of construction, and other property ameni-ties; market extraction for cost and depreciation estimates; and market extraction for market rent and gross rent multi-pliers. Your laptop with Excel is highly recommended for this class. (AI Price-$195 Full Price-$215)

Montgomery– Instructor: Morgan Mellette, MAI

October 7th-“Forest Valuation for Non-Foresters” The purpose of the seminar is to help appraisers understand that it is essential to have a fundamental knowledge of

the timber market in order to perform competent forestland appraisal assignments (even if working with a consulting

forester). The target market for the seminar is real estate appraisers with no forestry background who want to know

how to perform competently when taking on forestland appraisal assignments. (AI Price-$195 Full Price-$215)

Approved for CE Credit: Alabama Appraiser Board-7 hrs Mississippi Appraisers Board-7 hrs Alabama Real Estate Commission-6 hrs Florida Appraisers Board-7 hrs

All Seminars Approved for Continuing Education Credit By: Alabama Appraisal Board &

Alabama Real Estate Commission

First Quarter 2016

3rd Annual Fun In The Sun Summer Seminar Orange Beach- June 17

“Case Studies in Complex Valuation”

Leslie Sellers, MAI, , SRA, 2010 Appraisal Institute President

“Case Studies in Complex Valuation” which was originally titled “Reviewing the Appraisal Process”,

has only had a name change. Appraisal assignments can be simple or complex. The complexity comes from

many areas including property rights, functional depreciation, contract rent above or below market rent, need

for absorption, and much more. A simple review of the basics in appraisal body-of-knowledge serves as a

reminder for recognition of these issues when they arise. Then, case studies from actual work products serve

as reminders that we should seriously look at each assignment to assure what appears to be a simple assign-

ment is not really more complex. This seminar begins with the basics and fundamentals followed by case

studies to illustrate examples of when a simple assignment is actually more complex, and how to properly

handle it. (AI Price-$195 Standard-$215) Approved for CE Credit: Alabama Appraiser Board-7 hrs Mississippi Appraisers Board-7 hrs Alabama Real Estate Commission-6 hrs Florida Appraisers Board-7 hrs

Registration Includes:

Registration includes dinner for two at Fish Fry Dinner starting at 6:00pm at the seminar location.

(Extra guest $10 a person or $20 for family)

Dinner catered by Chet’s Seafood of Pensacola-Winner of Best of the Coast for several years

Leslie is Principal Appraiser and Owner of Sellers & Associates Valuation &

Advisory Services in Clinton, Tennessee and has been an active real estate ap-

praiser, broker, and developer since 1973. He is a long standing member of the

Appraisal Institute education faculty and has taught real estate valuation cours-

es and seminars for the Appraisal Institute, in 19 U.S. states, Rico,

Kuwait and the People’s Republic of China. He is the co-author of the Ap-

praisal Institute Seminar “Real Estate Investing and Development – A Valua-

tion Perspective”, and has served on the review team for numerous Appraisal Institute Seminars. He

has testified before the U. S. Congress and the United Nations. He has served as a resource in the

press including CNBC, CNN and, The Wall Street Journal.


The Alabama Chapter is excited to announce the 2016 Scholarship Pro-gram. The program was created to support qualified chapter members in their efforts to obtain a state certification or designation from the Appraisal Insti-tute. The Candidate For Designation recipient will receive a $750 scholarship to help pay for the costs associated with attending and passing an "Advanced Level" class from the Appraisal Institute and the Practicing Affiliate recipient will re-ceive a $500 scholarship to help pay for the costs associated with attending and passing a "General Level" class from the Appraisal Institute.

Applications must be submitted to David Singleton, MAI, Chairman of the Scholarship Focus Groups, by September 1, 2016. The Focus Groups will make recommendations of the most qualified candidates to the Board of Direc-tors of the Alabama Chapter. The Board will then select the most qualified appli-cants in each category and the awards will be made at the annual Christmas Party.

To get more information about requirements and an applications go to www.aialabama.com and click on Scholarships under the education tab. If you have any questions please email David at [email protected]

Candidate/Advisor Corner

Timeline to designation might expire at the end of a month as opposed

to the end of a year. Timeline is different from Annual Minimum Pro-

gress. Timeline to designation is just the end date for any given candi-

date.

First Quarter 2016

Education Incentive Program for 2016 To show their appreciation to the Membership for their continued support of Chapter Education, the Board of Directors recently approved a new Ed-ucation Incentive Program. This new stimulus will provide one lucky member with a $600 cash prize for attending Alabama Chapter Education.

To be eligible you must attend Alabama

Chapter Classroom Education.

Once you have attended 21 hours of Ala-

bama Chapter education, your name will

be entered into a drawing to be held at the

2016 Christmas Party

For every 21 hours of Alabama Chapter sponsored education that a member of the Alabama

Chapter attends in 2016 their name will be put in a drawing to win $600 cash at the 2016

Christmas Party on December 2, 2016. Given the fact that the Chapter is offering 49 hours

of education it is possible for your name to put in the drawing twice. The individual must be

present at the Christmas Party to win the cash.

The Education Committee has scheduled some of the best instructors from across the

country to teach for the Chapter in 2016. These instructors will be presenting timely topics

that will appeal to both Commercial and Residential practitioners. Don't miss this oppor-

tunity to enhance your skill set while having the opportunity to win a cash prize for support-

ing Chapter Education.

Monday, May 9 at 6p at Ralph and Kacoos (1595 Battleship Parkway, Spanish Fort, AL ; on the causeway)

Next “AI After Hours”

270 Doug Baker Blvd.

Suite 700-354

Birmingham, Alabama 35242

Phone: 205-835-0808

E-mail:

[email protected]

Alabama Chapter Appraisal Institute

Alabama Appraiser

Welcome New Members & Candidates First Quarter 2016

2016 Board of Directors

Newsletter Designed By

Pam Paulk, Executive Director

President: Lew Watson, SRA 256-362-1800 Vice President: Laura Leigh Stephens, MAI 256-533-7878 Treasurer: Roger Ball, MAI 205-252-8697 Secretary: Christopher Pettey, SR, MAI, SRA 256-350-5751 Past President: Tim Rau, MAI 205-918-8514

Board Member: Hayden Scott, MAI 205-871-7100 Board Member: Jennifer McDade, MAI 251-338-2260 Board Member: Mark Haller, MAI, SRA 256-4587793 Regional Representative: Rusty Rich, MAI 205-949-5995 Regional Representative: Laura Leigh Stephens, MAI 256-533-7878

Practicing Affiliate:

Seth McGee Knowles-Birmingham

Affiliate:

John Wilkes-Birmingham

AI Releases Mobile App for Lum Library The Appraisal Institute announced Feb. 3 that its Y.T. and Louise Lee Lum Library’s online catalog is available through the universal app called, “Library Link.” The app operates on both iOS and Android mobile devices. The “Library Link” app provides basic search capability of the Lum Library’s online catalog, and allows documents to be opened and read. Download the app from iTunes or Google Play. Find instructions on using the app on the Lum Library’s homepage under the “Instructions” option.

Welcome New Members

We look forward to making you feel welcome.

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