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Capital Update
June 18, 2014
Coming Education
June 25-27 - Condemnation Appraising: Principles & Applications – Rockville, MD Click here for details.
October 6-10 - Review Theory - General – Rockville, MD Click here for details.
October 21 - IRS Valuation Summit – Washington, DC Details to come.
November 18-21 - General Appraiser Market Analysis and Highest & Best Use - Rockville, MD Click here for details.
November TBD - Chapter Meeting/Real Estate Update – Location TBD Details to come.
December 11 - 7-Hour National USPAP Update Course – Rockville, MD Click here for details.
December 12 - Business Practices & Ethics – Rockville, MD Click here for details.
Other Area News

How accurate is Zillow’s Zestimate? Not very, says one Washington-area agent.

Realtors poll shows a big decline in complaints about appraisers

VA Officials Enlist Realtors® to Recruit Home Appraisers
In this issue...
Legislative & Regulatory Update - Recap

Metro DC Area appraisers convened in Tysons Corner, VA on June 6 to hear Bill Garber, Director of Government and External Relations and Scott DiBiasio, Manager of State and Industry Relations for the Appraisal Institute report on legislative and regulatory proposals affecting the real estate valuation profession. During their two hour presentation, Garber and DiBiasio covered the following topics:
  • Proposed and finalized regulations relating to appraisal, including AMC minimum operating requirements, and AVM quality control standards
  • New guidance from the OCC relating to third party relationships and CRE Lending
  • Small Business Administration “going concern” appraisal policies
  • Congressional legislation relating to SBA going concern appraisals, bank regulatory relief, housing finance reform, and tax reform
  • Appraisal review credentialing changes
  • Final Virginia AMC regulations
  • DMV reciprocal licensing requirements
Click here to view their slide deck.
Don Boucher, SRA made a strong case for the AI Political Action Committee. The AI PAC supports candidates who are committed to the principles that drive the appraisal profession. By providing this support, AI PAC helps develop strong congressional advocates for the appraisal profession and helps ensure that those advocates can continue working to promote the interests of appraisers for many years to come. Click here for more details and the contribution form.
The event also served as an opportunity to introduce three new designated members. William E. Culbertson joined the ranks of SRAs, Carolyn Kakareka, MAI added MAI to her credentials and Dave Lenhoff became the chapter’s first AI-GRS. Lenhoff encouraged members to pursue a review designation noting that the AI-GRS and AI-RRS had recently been created in response to the growing and critically important role that appraisal review plays in risk management and mitigation for many clients/users of appraisal services. Click here for more details about AI review designations.

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June 25-27Just a few seats left for Condemnation Appraising: Principles & Applications

Top-rated instructor, Vince Dowling, MAI, SRA will be back for this 3-day course to share an understanding of the eminent domain process, rules and regulations governing condemnation appraisals and important issues unique to this appraisal specialty. You'll also 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...and more! Click here for details.

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Mark Your Calendars for the 2014 IRS Valuation Summit – October 21 in Washington, DC
In 2010, the Southern California of the Appraisal Institute held the inaugural IRS Valuation Summit for appraisers in Los Angeles, CA drawing rave reviews from all who attended, and the event has grown in size and popularity every year since. SCAI and AIDC are collaborating to bring the program to Washington, DC to share the knowledge and value with the East Coast appraisal community. We’ve assembled an all-star lineup to convene for a full-day program at the Grand Hyatt in Washington, DC on Tuesday, October 21. Details and registration to come soon!

In the meanwhile, checkout What Appraisers Need to Know About Valuation for Tax Issues. In this AI YouTube video, Eric Garfield MAI and Terry Dunkin MAI, SRA, SRPA talk about what opportunities exist for appraisers in IRS and other valuations; challenges appraisers face when working with the IRS; and some misconceptions appraisers have about working with the IRS. Both Eric and Terry will be on the program in the fall.

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Candidates for Designation: AIET Scholarship Applications due July 1
The next Appraisal Institute Education Trust Scholarship deadline is July 1. Three scholarships are available to eligible Candidates for Designation:
  • Appraisal Institute Education Trust AI Course Scholarship
  • Appraisal Institute Education Trust Minorities and Women AI Course Scholarship
  • Appraisal Institute Education Trust Candidate for Designation Scholarship.
Please note: It is recommended that, prior to submitting a scholarship application applicants, attend a minimum of two Appraisal Institute chapter meetings annually.
Learn more about AIET Scholarships here or email

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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 anywhere, 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!

Our mailing address is:
Washington DC Metro Area Chapter of the Appraisal Institute
c/o Mariner Management
11804 Bare Sky Lane
Columbia, MD 21044

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