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Congress Hears Appraisal Institute’s Ideas to Modernize Regulation

CHICAGO (Nov. 17, 2016) – The Appraisal Institute yesterday told a Congressional hearing there is a “better, less-complicated approach” that would modernize the U.S. appraisal regulatory structure by improving quality, reducing costs and addressing fundamental concerns that drive appraisers from the profession. In Capitol Hill testimony before a subcommittee of the House Financial Services Committee, the Appraisal Institute suggested that Congress realign the appraisal regulatory structure with those of other industries in the real estate and mortgage industries. As the nation’s largest

Landscaping a Major Contributor to Property Values, Appraisal Institute Says

CHICAGO (May 3, 2016) – The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today reminded homeowners that attractive landscaping can make a major contribution to a home’s value and can influence an owner’s ability to sell the property. An academic study  by Michigan State University researchers, published in the Horticultural Research Institute’s Journal of Environmental Horticulture, found that consumers

Appraisers Expect Continued Growth: Appraisal Institute Survey

CHICAGO (Oct. 22, 2013) – Appraisers anticipate continued growth in mortgage lending appraisals and in specialized areas of consulting, according to a recent survey conducted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers. Commercial appraisers said the top five areas of growth in the next one to two years (in order of potential) are mortgage lending appraisals, land valuation, litigation valuation/forensic appraisal, real estate consulting (fee-based) and right-of-way/easements. Residential appraisers said the top five areas of growth

Appraisal Institute Announces Major Strategic Initiatives for Valuation Profession

CHICAGO (Oct. 8, 2013) – The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced three major strategic initiatives that have the potential to fundamentally reshape the global valuation profession. The Appraisal Institute will: · Issue proposed standards of valuation practice that could serve as an alternative for valuation professionals where national or other standards are not required; · Expand delivery of Appraisal Institute education, becoming more proactive in identifying and pursuing appraisal educational

Appraiser Trainee Hiring to Remain Weak: Appraisal Institute Survey

CHICAGO (Aug. 14, 2013) –  Hiring of appraiser trainees will remain weak for the next one to two years, according to a recent survey conducted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers. About one-fifth (21 percent) of commercial appraisers said they would add full-time trainees; fewer than one-tenth (9 percent) of residential appraisers said they would do so, according to the survey of U.S. real estate valuation professionals conducted in May-June. Commercial appraisers account for less than one-third of practicing U.S. appraisers.

Real Estate Appraisers Optimistic About Future: Appraisal Institute Survey

More than three-fourths of U.S. real estate appraisers are very or somewhat positive about the demand for their services over the next one to two years, according to an Appraisal Institute survey released today. Eighty percent of residential appraisers and 78 percent of commercial appraisers said they are upbeat about their future, according to the survey conducted in May-June by the nation’s largest professional association of real estate appraisers. “Appraisers have faced a challenging real estate market in recent years, and it’s great to see that so many valuation professionals are

Only Certain Home Improvements Pay Off, Appraisal Institute Says

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advised homeowners to use discretion when deciding which home improvement projects to take on, saying that not all renovations positively impact property values. “Projects that take a home significantly beyond community norms are often not worth the cost when the owner sells the home,” said Appraisal Institute President Richard L. Borges II, MAI, SRA. “If they don’t match what’s standard in a community, they’ll be considered excessive.” According to Remodeling magazine’s most recent

Landscaping Can Impact Home Values, Appraisal Institute Says

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advised homeowners to properly maintain their landscaping, which can significantly affect property values. “If a landscaping change is positive, it can often enhance price and reduce a home’s time on the market,” said Appraisal Institute President Richard L. Borges II, MAI, SRA. “But if the change is negative, it can lower the price and lengthen the time a home remains for sale.” Curb appeal is essential when selling a home, Borges said, noting it’s the homeowner’s opportunity to

Plan Now for Home Winterization, Appraisal Institute Urges Consumers

CHICAGO (Oct. 24, 2012) – The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today urged homeowners to consider winterizing their properties to potentially lower energy costs, increase comfort in cold months and possibly improve resale value. “This is the perfect time for consumers to consider making seasonal updates to their homes,” said Appraisal Institute President Sara W. Stephens, MAI. “Not only do these types of home improvements enhance living environments in winter months and possibly lower energy costs, but most can provide an above

New Form of Regulation is ‘Dangerous,’ Appraisal Institute Warns Congress

CHICAGO (June 28, 2012) – Warning that a “new and excessive” form of regulation is about to be enacted without Congressional authorization, the nation’s largest professional association of real estate appraisers told lawmakers today that such a scheme could damage the valuation profession. Appraisal Institute President Sara W. Stephens, MAI, testified to a Capitol Hill hearing that although appraising is the most heavily regulated activity within the mortgage and real estate sectors, appraiser regulatory agencies are planning to enact further changes that would threaten to tie the hands

Mortgage Fraud Increase Shows Importance of Valuation Professionals: Appraisal Institute

CHICAGO (April 24, 2012) – Responding to a new study indicating that mortgage fraud in the United States increased 20 percent from the third quarter of 2010 to the third quarter of 2011, the nation’s largest professional association of real estate appraisers today encouraged lenders and consumers to work with valuation professionals who hold competence and ethics in the highest regard. The Appraisal Institute reacted to the Financial Crimes Enforcement Network’s March 2012 Mortgage Loan Fraud Update, which found that depository institutions submitted 19,934 Suspicious Activity Reports in

Appraisal Institute Advises U.S. SentencingCommission to Require Appraisals

CHICAGO (March 14, 2012) – Speaking at a hearing in Washington, D.C., the Appraisal Institute today urged a federal judicial agency to require the use of real estate appraisals when calculating loss in mortgage fraud cases. The Appraisal Institute is the nation’s largest professional association of real estate appraisers. In prepared written testimony, Appraisal Institute President Sara W. Stephens, MAI, told the U.S. Sentencing Commission, “We believe the Commission should adopt a special rule for determining the fair market value of real property if the mortgaged property has not been

Don’t Shoot the Messenger: Appraisers Not at Fault for ‘Low’ Home Values

CHICAGO (Jan. 17, 2012) — Don’t blame the real estate appraiser if it turns out that house you’re trying to sell or buy isn’t worth what you thought it was. That was the message today from the Appraisal Institute, the nation’s largest professional association of real estate appraisers. Real estate agents, homebuilders and others have tried to blame the market’s distressed condition on appraisers, saying that real estate appraisers are at fault for producing opinions of value that don’t match a home’s listing, contract or sales price, delaying a recovery in the housing market. Appraisal

Appraisal Institute Calls for Transparency on Home Buyers’ Forms

CHICAGO (Nov. 16, 2011) – Saying that consumers deserve to know what they’re paying for, the nation’s largest professional association of real estate appraisers today called on the federal Consumer Financial Protection Bureau to require more transparency on home buyers’ forms. The Appraisal Institute, in a joint letter with the American Society of Farm Managers and Rural Appraisers, asked the CFPB to separate appraisal fees from administration and processing fees on the settlement forms that consumers receive when purchasing a home. Created by Congress, the CFPB oversees consumer

Help Regulators Take Proper Aim, Appraisal Institute Tells Congress

CHICAGO (July 14, 2011) – Testifying before a Congressional subcommittee, the Appraisal Institute’s president-elect on Wednesday told lawmakers their intent was “right on target” and asked them to “guide the regulators’ aim” in implementing consumer-friendly real estate appraisal guidelines. Sara W. Stephens, MAI, told members of the House Financial Services’ Subcommittee on Insurance, Housing and Community Opportunity that the Dodd-Frank Act passed by Congress last year is not being properly implemented by federal regulators. Among other highlights, the Act calls on appraisal

Appraisal Institute Launches ‘Green’ Valuation Program

Nation’s Largest Professional Association of Real Estate Appraisers Teaches Intricacies of Valuing Sustainable BuildingsCHICAGO (Jan. 24, 2011) – The Appraisal Institute today launched its Valuation of Sustainable Buildings Professional Development Program , educating appraisers on the intricacies of valuing high-performance residential and commercial buildings. The Appraisal Institute is the nation’s largest professional association of real estate appraisers. “There is a tremendous need for this type of education within the

Appraisal Institute Unveils Appraisal Tips for Consumers

Nation's Largest Professional Association of Real Estate Appraisers Helps Homeowners, Buyers Avoid Appraisal ProblemsCHICAGO, Jan. 12, 2011 (GLOBE NEWSWIRE) -- The Appraisal Institute today released helpful tips for consumers, providing guidance for homeowners and buyers seeking to ensure their sales are completed in a timely manner. As the nation's largest professional association of real estate appraisers, the Appraisal Institute created the helpful tips to let consumers know how to protect themselves and how to avoid unnecessary frustration when selling or buying a home. The document

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