We are a Chapter of the Appraisal Institute, the foremost organization for real property valuation specialists. Chapter membership includes Designated Members, Candidates for Designation, Practicing Affiliates, and Affiliates who reside within the boundaries of Minnesota, North Dakota, two-thirds of South Dakota, ten counties in Wisconsin, and the Canadian Province of Manitoba.
Instructors: Byron E. Miller, SRA, AI-RRS, and Brett W. Hall, MAI, SRA
Description:
This six hour Minnesota Supervisory Appraiser/Trainee Course targets all individuals who became Supervisory Appraisers or Trainee Appraisers on Jan. 1. Many MN Appraiser Supervisors were under the impression, that if they were a supervisor, or a trainee, prior to 1/1/2015; that the new law did not apply to them. Appraisers understood they would be ‘grandfathered’ into this new law. This is correct, they are, but for the original supervisor/trainee relationship they had as of January 1. HOWEVER, if a supervisor adds any NEW trainees, or if a trainee works with another licensed/certified appraiser, who was NOT their supervisor on January 1; then attending this course is a requirement for these individuals involved.
Instructor: Craig M. Harrington, SRA, AI-RRS
Description:
Apply the principles and concepts learned in Basic Appraisal Principles. This four-day course takes you step-by-step through the valuation process:
Learn about the three approaches to reaching an opinion of value—income capitalization, cost, and sales comparison—and apply them in true-to-life case studies and problems. After examining income capitalization methods and formulas, learn how rates and multipliers are derived. Through case studies discover the steps and concepts involved in the cost approach—how appraisers estimate the cost of constructing a reproduction of or replacement for an existing structure; the three major components of depreciation and methods for estimating and allocating depreciation; and land and site valuation.
The course will guide you through the sales comparison approach including researching the market, verifying information, selecting units of comparison, conducting a comparative analysis, making adjustments, and reconciliation. Complete key sections of an appraisal report. Finally, the course provides an introduction to property description and construction and design basics.
Instructor: Craig Steinley, SRA, AI-RRS
Description:
Review Case Studies-Residential is unlike anything you’ve experienced in other review courses. In this two-day course, you will apply the review process that you learned in Review Theory-Residential by walking through a case study that focuses on a two-stage review assignment. Day one begins with a quick refresher of review concepts. From there, you will work on an assignment that gets dropped on your desk much like it does in real life. Working in groups, as well as individually, you’ll identify and analyze the components of the case study review assignment.
For many, this will be the first opportunity to work through all seven steps of the review process and apply them within a simulated, very real-to-life assignment. Problem identification and scope of work is where the process begins and that quickly leads to the tougher analytical work where you’ll analyze the subject appraisal report and develop opinions of completeness, accuracy, adequacy, relevance, and reasonableness (including tests of reasonableness). From there, you’ll learn to develop opinions of appropriateness and creditability to both the appraiser’s development work as well as opinions on whether the appraiser’s report is appropriate and not misleading—including the reviewer’s development of reasons for disagreement.
Day two begins with the reviewer’s development of his or own opinion of value in this two-stage review assignment. You will analyze additional field data to facilitate review decisions whether the opinion of value in the subject appraisal report is credible. From the start of the case study, you will take notes to prepare an individual review report which is submitted to the instructor (the review supervisor) before the exam.
If you’re an appraiser, reviewer, or other real estate professional who regularly works with reviews, this hands-on, application-based course is for you!
Instructor: Byron E. Miller, SRA, AI-RRS
Description:
Real estate markets and residential appraisal requirements have changed significantly due to market volatility and increased oversight which has left residential appraisers searching for new strategies to handle their appraisal assignments. This seminar revisits valuation fundamentals and illustrates why you need data collection and analytical skills more than ever. The seminar uses and is based on the 2018 updated 2nd edition of Valuation by Comparison. You’ll learn why clients need an appraisal, why you must have appropriate market data, and why it is imperative that you know your market. You’ll discover how to find the information you need in markets where data is scarce, inconsistent, or misleading. And you’ll explore techniques to accurately interpret and then anticipate the actions of buyers and sellers in today’s market. Whether you are an experienced appraiser or newer to the profession, you’ll learn about a variety of approaches and resources that are available for gleaning indications of market value, and you’ll better understand which items require adjustment and which items can be ignored.
Instructor: Vincent M. Dowling, MAI, SRA
Description:
Gain an understanding of the eminent domain process, rules and regulations governing condemnation appraisals, and important issues unique to this appraisal specialty. Acquire the tools to address issues such as the valuation rules used by different jurisdictions, identification and valuation of the larger parcel, and the estimation of damages and benefits. Examine advanced applications of appraisal techniques and problem-solving in condemnation cases. Participants will discover how courts view various appraisal methodologies. Case studies are presented to reinforce the application of condemnation appraisal principles.
Instructor: Vincent M. Dowling, MAI, SRA
Description:
Based on the Appraisal Institute’s textbook Applications in Litigation Valuation: A Pragmatist’s Guide, this one-day seminar discusses in detail three of the book’s case studies that provide an overview of litigation strategies to appraisers who are new to litigation work, as well as a reinforcement of litigation skills to more experienced appraisers. Case study topics include title issues, continuing nuisance, and condemnation.
If you have not attended the courses in the Litigation Professional Development Program, this seminar is an excellent starting point. If you have attended those courses, this seminar should reinforce many of the concepts you previously have learned.
Instructor: Paul R. Gillespie, MAI, AI-GRS, AI-RRS
Description:
Enroll in Review Case Studies—General and come prepared for the challenge of applying the review process and other concepts covered in Review Theory—General. You will enhance your review skills by preparing two required review reports based on two case studies that present some of the issues reviewers face in review assignments. For each case study, you will develop opinions on the completeness, accuracy, adequacy, relevance, reasonableness, appropriateness, and credibility of another appraiser’s work and then communicate your opinions in a review report you design and draft yourself. By preparing written review reports based on the case studies, you will gain confidence in the application of review techniques. This course will be beneficial for appraisers and other real estate professionals who regularly work with appraisals and reviews.
Instructor: Byron E. Miller, SRA, AI-RRS
Description:
Real estate markets and residential appraisal requirements have changed significantly due to market volatility and increased oversight which has left residential appraisers searching for new strategies to handle their appraisal assignments. This seminar revisits valuation fundamentals and illustrates why you need data collection and analytical skills more than ever. The seminar uses and is based on the 2018 updated 2nd edition of Valuation by Comparison. You’ll learn why clients need an appraisal, why you must have appropriate market data, and why it is imperative that you know your market. You’ll discover how to find the information you need in markets where data is scarce, inconsistent, or misleading. And you’ll explore techniques to accurately interpret and then anticipate the actions of buyers and sellers in today’s market. Whether you are an experienced appraiser or newer to the profession, you’ll learn about a variety of approaches and resources that are available for gleaning indications of market value, and you’ll better understand which items require adjustment and which items can be ignored.
Instructor: Brett W. Hall, MAI, SRA
Description:
This course addresses topics that were not included in the previous version, such as the Guide Notes to Standards of Professional Appraisal Practice. Numerous Q&As address real-life, up-to-date matters that appraisers encounter in various assignments, including mortgage lending, litigation, property tax appeal, and many more.
Instructor: Stephen F. Fanning, MAI, AI-GRS
Description:
This AQB-approved course will help you apply meaningful market analysis in valuation assignments. It presents the basic concepts and terminology of market analysis and marketability studies, then shows how marketability studies provide vital information for the highest and best use decision. Throughout the course, the emphasis is on conducting a reliable analysis of demand. You’ll gain practice in applying methods for inferred, or trend, analysis to three property types—a suburban residential subdivision, an existing multifamily property, and an office building. Using the tools introduced in the course will help you increase the reliability of your highest and best use analyses and support the conclusions you reach in the three approaches to value.
Winter Chapter Meeting
Friday, February 22, 2019
11:30am – 2:30pm (preceded by Chapter BOD Meeting at 9:30am)
Location
Jax Café
1928 University Ave. NE
Minneapolis, MN 55418 (MAP)
Multifamily Housing Market – Twin Cities and Capital Market Update
Presenters: Tom O’Neil, Dougherty Mortgage, and Marsha Goff, Merchants Capital
Tom O’Neil, Vice President with Dougherty Mortgage, will provide an update of the Twin Cities multifamily market, including product types and geographic submarkets, development patterns, and a 2019 outlook.
Marsha Goff, MAI, Executive Vice President with Merchants Capital, will provide an update regarding financing and multifamily housing, focusing on interest rate stack, capital markets, and refinancing market rate and affordable housing projects.
Continuing Education Credits
Appraisal Institute – 2 hours CE approved.
MN CE – Appraiser and Real Estate – 2 hours applied for.
*Important CE Note: This program has been advertised showing that 2 hours of both Appraisal Institute and Minnesota Appraiser/Real Estate CE Credit were applied for. Although every effort is being made to ensure approval for all credit, it appears that the Minnesota CE credit may not be approved in time. If the Minnesota credits are not approved in time, the Department of Commerce will not approve or issue credit retroactively. We apologize for any inconvenience this may cause. AI credit has been approved and will be awarded.
Schedule
Fee
For those in the 7-county metro area, there is no fee for this meeting if you have paid your Chapter Service Fees (CSF) for 2019. Please remember that the CSFs are due, and if you have not yet paid, please contact the central office at 651-925-5528 to submit payment. We will also be accepting a check payment at the meeting.
For our Guests and those who belong to the North Star Chapter and do not pay the 2019 CSF, the fee for this meeting is $50.00.
Register
Registration is now closed.
In this month’s Chapter President’s Message, Josh Folland, MAI (left, pictured with 2019 Appraisal Institute President, Stephen Wagner, MAI, SRA, AI-GRS) recaps an exciting year and sets the stage for exciting Chapter developments in 2019.
