2012 Low-Income Housing

Tax Credit (LIHTC) Workshops

Workshop details

Locations and Dates

www.treasurer.ca.gov) approximately one week prior to the date of the workshop. Registered attendees are strongly encouraged to visit the TCAC website prior to attending the workshops to download workshop materials. Hard copies of the materials will not be available.

Who should attend

Anyone involved in tax credit projects, including owners, developers, project managers, attorneys, accountants, consultants, and market analysts.

Attendees must register by mailing the Registration Form and $65.00 per person fee to TCAC by

February 7, 2012. Fax, telephone, or walk-in registrations will NOT be accepted.

Space is limited to 2 representatives per organization and 75 attendees per session (100 attendees for LA sessions).

Confirmation letters will be faxed to participants and are required at the door.

Full refunds will be made to registered participants if TCAC cancels or postpones the workshop.

DETACH BOTTOM PORTION AND SUBMIT TO TCAC BY MAIL

Posted by Commercial Appraiser at 02:39 PM | Permalink | Comments (0) | TrackBacks (0)

Lori,

Appraisal Subcomitte

Recently, I was made aware of a letter distributed by the Appraisal Foundation (TAF) in response to a publication by the National Association of Home Builders.  The significance of the TAF letter was that appraiser have the freedom to choose whatever comps they feel are relevant to their valuation-including no arm's length sales to opine Market Value.  This practice is an apparent violation of acceptable appraisal practices.  I requested and then demanded that they send me a citation supporting this argument along with one indicating that their response was sanctioned by their bylaws.  They, again, refused.  I then demanded the information, along with comprehensive resume's indicating that they were competent to derive such conclusions, under the Freedom of Information Act (FIA.)  They again refused, stating that they were not subject to the FIA because they are a Private Non-profit organization.

This leads me to believe that they are incompetent for their positions, and that their actions have contributed to an unnecessary geometric decline in real property values.    My complaints are:

1. It is not within their purview to make requested or unrequested public comments re Appraisal Practices.

2. They are incompetent to make such statements.

3. They have no standing when it comes to an exemption of the FIA.

Thanks!

Curtis D. Harris, BS, CGREA, REB

Bachelor of Science in Real Estate, CSULA

State Certified General Appraiser

Real Estate Broker

ASTM E-2018 Commercial Real Estate Inspector

HUD 203k Consultant

HUD/FHA Real Estate Appraiser/Reviewer

FannieMae REO Consultant

CTAC LEED Certification

The Harris Company, Forensic Appraisers and Real Estate Consultants

*PIRS/Harris Company and the Science of Real Estate-Partners*

1910 East Mariposa Avenue, Suite 115

El Segundo, CA. 90245

310-337-1973 Office

310-251-3959 Cell

WebSite: http://www.harriscompanyrec.com

Resume: http://www.harriscompanyrec.com/CURRICULUMVITAENAME2011a.pdf

Commercial Appraiser Blog: http://harriscompanyrec.com/blog/

We Make a Simple Pledge to

Communicate, in a timely fashion, each appraisal, analysis, and opinion without bias or partiality

Abstain from behavior that is deleterious to our clients, the appraisal profession, and the public

Hold paramount the confidential nature of the appraiser/consultant - client relationship

and

Comply with the requirements of the Uniform Standards of Professional Appraisal Practice and the

Code of Professional Ethics of the National Society of Real Estate Appraisers

IT'S THE LAW- Statement 7: Prohibition Against Discrimination

State agencies should be aware that Title XI and the Agencies' regulations prohibit federally regulated financial institutions from excluding appraisers from consideration for an assignment by virtue of their membership, or lack of membership, in any appraisal organization. Federally regulated financial institutions should review the qualifications of appraisers to ensure that they are qualified for the assignment for which they are being considered. It is unacceptable to assume that an appraiser is qualified solely due to membership in, or designation from, an appraisal organization, or the lack thereof. The Agencies have determined that financial institutions' appraisal policies should not favor appraisers from one or more organizations or exclude individuals based on their lack of such membership. If a State agency learns that a certified or licensed appraiser allegedly has been a victim of such discrimination, the State agency should inform the Agency which has regulatory authority over the involved financial institution. INCLUDING THE APPRAISAL INSTITUTE-MAI

CONFIDENTIALITY/PRIVILEGE NOTICE: This transmission and any attachments are intended solely for the addressee. The information contained in this transmission is confidential in nature and protected from further use or disclosure under U.S. Pub. L. 106-102, 113 U.S. Stat. 1338 (1999), and may be subject to consultant/appraiser-client or other legal privilege. Your use or disclosure of this information for any purpose other than that intended by its transmittal is strictly prohibited and may subject you to fines and/or penalties under federal and state law. If you are not the intended recipient of this transmission, please destroy all copies received and confirm destruction to the sender via return transmittal

Posted by Commercial Appraiser at 04:13 PM | Permalink | Comments (0) | TrackBacks (0)

On December 9, 2011, the Appraiser Qualifications Board of The Appraisal Foundation adopted changes to the

Real

that will become effective January 1, 2015. These changes represent

minimum national requirements that each state must implement no later than January 1, 2015.

Education and experience must be completed prior to

taking the AQB-approved

National Uniform Licensing and

.

All candidates for a real property appraiser credential must

undergo background screening. State appraiser regulatory

agencies are

strongly encouraged to perform background

checks on

existing credential holders as well.

Credit towards qualifying education requirements may be

obtained via the completion of a degree program in Real

Estate from an accredited degree-granting college or

university provided the college or university has had its

curriculum reviewed and approved by the AQB.

States had the option to implement the 2008

Real Property

via the “segmented

approach.” This implementation option will no longer be

valid effective January 1, 2015.

Aside from complying with the requirements to complete

the

7-Hour National USPAP Update Course (or its AQBapproved

equivalent), appraisers may not receive credit for

completion of the same continuing education course

offering within an appraiser’s continuing education cycle.

A

written, proctored examination is required for all

qualifying education distance course offerings. The term

refers to an examination that might be written on

paper or administered electronically on a computer

workstation or other device.

Added topics on green building (qualifying and continuing

education), seller concessions (qualifying and continuing

education) and developing opinions of real property value

in appraisals that also include personal property and/or

business value (continuing education only).

None None

None

30 semester credit hours of collegelevel

education from an accredited

college, junior college, community

college, or university OR an Associate’s

degree or higher (in any field).

21 semester credit hours in

specified collegiate subject matter

courses from an accredited college

or university OR an Associate’s

degree or higher.

Bachelor’s degree or higher (in any

field) from an accredited college or

university.

30 semester credit hours in specific

collegiate subject matter courses

from an accredited college or

university OR a Bachelor’s degree

or higher.

Bachelor’s degree or higher (in any

field) from an accredited college or

university.

*These requirements are effective for individuals seeking a real property appraiser credential

after January 1,

2015. However, in some cases, the requirements may also apply to

existing real property appraisers (for example,

a state may require a credentialed appraiser to meet the new Criteria if he or she moves from a state that does not

have reciprocity with that state. Or some states may require appraisers seeking to change their credential level to

meet all of the 2015 Criteria prior to obtaining the new credential).

Credentialed appraisers are urged to

State-certified Supervisory Appraiser shall be in good

standing with the training jurisdiction and not subject

to any disciplinary action within the last three (3)

years that affects the Supervisory Appraiser’s legal

ability to engage in appraisal practice. Shall have

been state certified for a minimum of three (3) years

prior to being eligible to become a Supervisory

Appraiser.

All qualifying education must be completed within the five

(5) year period prior to the date of submission of an

application for a Trainee Appraiser credential.

A Supervisory Appraiser may not supervise more

than three Trainee Appraisers at one time, unless a

state program in the licensing jurisdiction provides to

progress monitoring, supervising certified appraiser

qualifications, and supervision oversight

requirements for Supervisory Appraisers.

A Trainee Appraiser is permitted to have more than one

Supervisory Appraiser.

Shared responsibility to ensure the appraisal experience log for the Trainee Appraiser is accurate, current, and

complies with the requirements of the Trainee Appraiser’s credentialing jurisdiction.

Both the Trainee Appraiser and Supervisory Appraiser shall be required to complete a course that, at a minimum,

complies with the specifications for course content established by the AQB. The course will be oriented toward the

requirements and responsibilities of Supervisory Appraisers and expectations for Trainee Appraisers. The course

must be completed by the Trainee Appraiser prior to obtaining a Trainee Appraiser credential, and completed by

the Supervisory Appraiser prior to supervising a Trainee Appraiser.

Posted by Commercial Appraiser at 03:16 PM | Permalink | Comments (0) | TrackBacks (0)

National Appraisal Board Adopts Changes to the 
Real Property Appraiser Qualification Criteria

Effective January 1, 2015

FOR IMMEDIATE RELEASE

January 24, 2012

Contact:

Paula Douglas Seidel

Executive Administrator

The Appraisal Foundation

paula@appraisalfoundation.org

direct phone 202.624.3048

Washington, DC — The Appraisal Foundation is pleased to announce that Proposed Revisions to the Real Property Appraiser Qualification Criteria (Criteria) have been adopted by the Appraiser Qualifications Board (AQB). The AQB is an independent Board of The Appraisal Foundation. The AQB is responsible for developing minimum qualifications for education, experience, examination and continuing education for real property appraisers in the United States.

The Criteria, which were adopted at the December 2011 meeting of the AQB, will be effective on January 1, 2015. The changes to the Criteria are the result of five public exposure drafts, covering a period of 15 months. Feedback was received from interested parties in the form of comment letters as well as comments made to the Board at public meetings. The changes to the Criteria will affect individuals seeking a real property appraiser credential as of January 1, 2015.  It is important to note that individual State Appraiser Regulatory Agencies may opt to implement the Criteria earlier than the 2015 deadline.

A summary of the changes to the Criteria include:

• Education and experience will have to be completed prior to taking the National Uniform Licensing and Certification Examinations;
• Applicants for the Certified Residential and Certified General classifications will have to possess a Bachelor’s degree or higher from an accredited college or university;
• Applicants for the Licensed Residential classification will have to have successfully completed 30 semester hours of college-level education from an accredited college, junior college, community college, or university, or  have an Associate’s degree or higher from an accredited college, junior college, community college, or university;
• All candidates will be required to undergo a background check;
• Recognition of approved university degree programs as counting toward the education requirements in the Real Property Appraiser Qualification Criteria;
• Removal of the “Segmented” Approach to the Real Property Appraiser Qualification Criteria implementation;
• Prohibition of repetitive continuing education in the same continuing education cycle;
• Clarification of the term “written examination”;
• Revisions to the Trainee Appraiser classification that will include a requirement to take a course oriented to the requirements and responsibilities of Trainee Appraisers and Supervisory Appraisers;
• New Supervisory Appraiser requirements;
• Revisions to Guide Note 1; and
• Additions to the illustrative list of educational topics acceptable for continuing education.

A more detailed summary of the changes to the Criteria is available at the following link:  

https://appraisalfoundation.sharefile.com/d/sd2f26fafefe402ab.

Any questions on the Real Property Appraiser Qualification Criteria and the work of the Appraiser Qualifications Board can be directed to Magdalene Vasquez, Qualifications Administrator at 202.624.3074.

Posted by Commercial Appraiser at 03:11 PM | Permalink | Comments (0) | TrackBacks (0)

Governor Brown’s State of the State 

Last week Governor Jerry Brown presented the State of the State speech to the legislature. In his remarks, he highlighted his commitment to build a statewide high-speed train project:

“Just as bold is our plan to build a high-speed rail system, connecting the Northern and Southern parts of our state. This is not a new idea. As governor the last time, I signed legislation to study the concept. Now thirty years later, we are within weeks of a revised business plan that will enable us to begin initial construction before the year is out.

President Obama strongly supports the project and has provided the majority of funds for this first phase. It is now your decision to evaluate the plan and decide what action to take. Without any hesitation, I urge your approval.

If you believe that California will continue to grow, as I do, and that millions more people will be living in our state, this is a wise investment. Building new runways and expanding our airports and highways is the only alternative. That is not cheaper and will face even more political opposition.

Those who believe that California is in decline will naturally shrink back from such a strenuous undertaking. I understand that feeling but I don’t share it, because I know this state and the spirit of the people who choose to live here. California is still the Gold Mountain that Chinese immigrants in 1848 came across the Pacific to find. The wealth is different, derived as it is, not from mining the Sierras but from the creative imagination of those who invent and build and generate the ideas that drive our economy forward.

Critics of the high-speed rail project abound as they often do when something of this magnitude is proposed. During the 1930’s, The Central Valley Water Project was called a “fantastic dream” that “will not work.” The Master Plan for the Interstate Highway System in 1939 was derided as “new Deal jitterbug economics.” In 1966, then Mayor Johnson of Berkeley called BART a “billion dollar potential fiasco.” Similarly, the Panama Canal was for years thought to be impractical and Benjamin Disraeli himself said of the Suez Canal: “totally impossible to be carried out.” The critics were wrong then and they’re wrong now.”

For a full transcript of his speech, visit: http://gov.ca.gov/home.php

Business Plan

In November 2011, the California High-Speed Rail Authority released a draft of its 2012 Business Plan which provides a comprehensive outlook on the financial, governance, and phasing plans for the statewide high-speed train project. The plan also outlines the alternatives that exist to upgrade our current transit system for the growing California population. A final Business Plan will be approved by the Board in 2012.

To review the Business Plan, please visit: www.cahighspeedrail.ca.gov/Business_Plan_reports.aspx.

Bakersfield - Palmdale Section

The Bakersfield to Palmdale regional team has continued to refine the proposed alignments in the Edison, Tehachapi and Antelope Valley sub-segments in preparation of presenting a Supplemental Alternatives Analysis Report to the California High-Speed Rail Board in February 2012. Refinements to the proposed alignments focus on value engineering along the entire segment.

For more information on the Bakersfield-Palmdale section, visit: http://cahighspeedrail.ca.gov/lib_Bakersfield_Palmdale.aspx

Palmdale - Los Angeles Section

The Supplemental Alternatives Analysis for the Palmdale to Sylmar section will be presented to the Board in April 2012. Following discussions with area stakeholders, more than ten alternatives were investigated throughout Acton, Agua Dulce and Santa Clarita/Sand Canyon. Upon further review by the Authority, the regional team will recommend to the Board alignment alternatives from Palmdale to Sylmar for study in the environmental review process.

For more information on the Palmdale-Los Angeles section, visit: http://cahighspeedrail.ca.gov/lib_Palmdale_Los_Angeles.aspx

I-5 Conceptual Study

In May 2011, the California High-Speed Rail Authority Board requested that the regional team assess potential alternatives along the I-5 to determine if new conditions and factors exist that would justify reconsidering the 2005 Program EIR/EIS decision to drop the I-5 corridor in favor of the Antelope Valley corridor.

The final study, released last week, reinforced the 2005 Program EIR/EIS. It concluded that the Antelope Valley corridor still has fewer potential environmental impacts and greater connectivity than the I-5 corridor. The Board agreed with staff recommendations at their January 2012 board meeting and requested that a proposed route through Palmdale be moved forward in the environmental review process. 

For more information on the study, visit: http://cahighspeedrail.ca.gov/pr_01122012__planning.aspx

Los Angeles – Anaheim Section

In March 2011, the California High-Speed Rail Board approved further study of a phased implementation plan for the Los Angeles to Anaheim section of the statewide high-speed train system.  This phased approach may bring early benefits to existing rail and commuter services and could improve mobility and rail safety for the local region.  This blended approach is being incorporated into the environmental document, as teams continue to work with the corridor cities, agency partners and stakeholders to develop the best solutions for the Los Angeles to Anaheim rail section.

For more information on the Los Angeles-Anaheim section, visit: http://cahighspeedrail.ca.gov/lib_Los_Angeles_Anaheim.aspx

Los Angeles - San Diego Section

In October 2011, AB 615 (Bonnie Lowenthal) was signed into law by Governor Brown, allocating $4 million in state funds to continue the environmental studies being completed throughout the Los Angeles to San Diego region.  This allows for further technical analysis to be completed in the areas of the section with multiple corridors under consideration.  We could not have achieved this funding without the support from various corridor stakeholders and agencies with an interest in seeing the planning work continue between Los Angeles and San Diego.  Further analysis and outreach to key stakeholders will continue with the submittal of a Supplemental Alternatives Analysis by the end of 2012. 

For more information on the Los Angeles-San Diego section, visit: http://cahighspeedrail.ca.gov/lib_Los_Angeles_San_Diego.aspx

SCAG 2012 RTP

The staff and board members of Southern California Association of Governments (SCAG) recently drafted the 2012 Regional Transportation Plan (RTP), a long-range transportation plan that is developed and updated by SCAG every four years. The California high-speed train is included in this long-term vision for the region, with the goal that early investment in existing passenger rail corridors identified for future high-speed train use will improve travel times and safety throughout Southern California. We want to thank the staff and committee members who have worked tirelessly to ensure high-speed rail is included in the 2012 RTP Constrained Plan.

Posted by Commercial Appraiser at 02:30 PM | Permalink | Comments (0) | TrackBacks (0)

Land values were based

http://www.idfpr.com/dpr/re/ILLAppr/IllinoisAppraiserJanuary2012.pdf

.”

Look familiar?

If I had a nickel for

every

phoned‐in Cost

Approach that had this

sentence or one like it, I’d be Warren

Buffet.

defines it as:

.

The underscored portion says it all.

Usually this technique is used in rural

settings. Perhaps when appraising

some hunting shack on a couple of

hundred acres of scrub.

But no, we see it in the

middle of suburban

Hinsdale, Belleville,

Taylorville, and other

places where the residence

is easily a significant

portion of the

total value.

By definition,

extraction doesn’t really

work in cities and suburbs where improvements

tend to drive value.

Also, some Cost Approaches are so

poorly cobbled together that we seriously

doubt the appraiser’s ability to

anything.

Don’t just toss

extraction into a report.

If you cannot demonstrate an ability to

depreciate reasonably, then you certainly

won’t be able to support an extraction

application.

The board strongly suggests that you

find a course that teaches a more reliable

technique.

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Sara W. Stephens, MAI, President
of Appraisal Institute Sara W. Stephens, MAI, President, Suffering From Agnosia

Agnosia

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