The 21st Annual Real Estate Trends Seminar was held on June 6th, 2019, at the Continuing Education and Conference Center at the University of Minnesota campus. It was an excellent event that was chock full of great information from our various presenters, which shed light on a variety of topics and issues facing the appraisal industry.
The morning commercial session started off with an always insightful Capital Markets Update by Murray Kornberg of Dougherty Funding, LLC. Next, the North Star Chapter’s very own Brett Hall, MAI, SRA enlightened the crowd with his presentation on the “Dark Store Theory” of the valuation issues facing Big Box retail properties. The morning session was capped off by Petter Eriksmoen of Appraisal Services, Inc., who provided an interesting overview of the many facets of the Fargo, ND-Moorhead, MN Commercial Real Estate Market.
The morning residential session kicked off with Ryan Nelson of the Department of Veteran Affairs highlighting the VA Home Loan and Appraisal Program. This was followed up by a summary of Appraising Accessory Dwelling Units by Shanna Sether with the City of Minneapolis Planning Department. Wrapping up the morning was Adam Ripple with Rinke Noonan, who shared the many nuances concerning Land Use Issues in Lakeshore properties.
For the afternoon session, the residential and commercial groups converged to learn about Liability Considerations for Appraisers Working as Expert Witnesses, with Peter Christensen of LIA Administrators & Insurance Services providing several real world examples of issues faced by appraisers in litigation cases. Highlighting the mid-afternoon was a rundown of the Agricultural Trends in the Greater 4-State Area by speakers Bryon Parman, Jack Davis, Simon Jette Nantel, and David Bau, who gave the crowd an interesting and in-depth discussion of agricultural land value and rent trends for North Dakota, South Dakota, Wisconsin, and Minnesota, respectively. Wrapping up the day, Peter Brickwedde and Jacqueline Olson of the MN Department of Commerce gave everyone in attendance an update on common mistakes and issues the regulatory staff faces pertaining to appraisals.
Overall, it was yet another great seminar that provided plenty of real world examples of the multitudinous issues facing the appraisal industry on a daily basis. We would like to express our gratitude to all of the hands that made the day possible, especially Chapter President Justin Folland, MAI, Byron Miller, SRA, AI-RRS, and Christy Mackaman, MAI, AI-GRS. and many thanks to our event sponsors: REDI Comps, Appraisal Institute Insurance Trust, and CoStar. We look forward to seeing you all again next year!
Jake Scheeler, MAI