colorado chapter appraisal news appraisal institute · richard c. mosier, mai ........

Annual January Seminar

Friday, January 26, 20183:00 PM

Glenmoor Country Club110 Glenmoor Drive

Englewood, CO 80013

6:00 PM Cocktails7:00 PM Dinner and Installation of 2018 Officers

Happy Holidays and The Best New Year To Everyone!

AppraisalInstitute®Professionals ProvidingReal Estate Solutions

COLORADO CHAPTER APPRAISAL NEWS

Volume 28, No. 1 — January, 2018

Publisher: Sherry Engleberg www.colo-ai.org

Colorado Chapter of The Appraisal InstitutePO Box 1659 • Parker, CO 80134

Phone: 303-691-0487 • Email: [email protected] Ne

w Address

Board of Directors Meeting • 11:30 AM • Working Lunch

2017 OFFICERS AND DIRECTORS

PRESIDENT Jon Vaughan, MAI ....................................... [email protected]

VICE-PRESIDENT Susanne Dickinson, MAI [email protected]

SECRETARY/TREASURER Benjamin Davidson, MAI, SRA ....... [email protected]

PAST PRESIDENT Michael D. Sullivan, MAI, SRA, AI-GRS ..... [email protected]

DIRECTORS 1 Year William Bush, MAI [email protected] Brent Henry, SRA, AI-RRS [email protected] Michael R. Nash, MAI [email protected]

2 Years Jason Letman, MAI [email protected] Scott McHenry, MAI, AI-RRS ...... [email protected] Warren B. Boizot, III, MAI [email protected]

3 Years Jeovani Gaytan, SRA ......... [email protected] Justin Atwell, MAI .......................... [email protected] Christopher McDermott, MAI .. [email protected]

2017 CHAPTER COMMITTEE CHAIRS

Bylaws Chair Richard C. Mosier, MAI .............................. [email protected]

Candidate Guidance Advisors Bonnie Roerig, MAI, AI-GRS [email protected] Joshua Walitt, SRA ..................... [email protected]

Candidate Guidance Committee General: R. Scott Woods, MAI ........ [email protected] Residential: Warren B. Boizot, III, [email protected]

Education Chair Mike Nash, MAI, AI-GRS [email protected]

Government Relations Susan Ebert-Stone, Chair ............................... [email protected]

Guest Editor Mark Linné, MAI, SRA ..................... [email protected]

2017 REGION II REPRESENTATIVES

One Year Term Sara Hillman, SRA [email protected] Lisa Roberts ...................................... [email protected] Mildred Wilson [email protected] Susanne Dickinson, MAI [email protected]

Two Year Term Charles Nelson, MAI .... [email protected] Marge Moore ................................ [email protected] Mike Smith, MAI [email protected]

Alternate Nikell M. Close, MAI Ron Gazvoda, MAI Joshua Walitt, SRA Michael Wood, MAI Jacob Antillon, SRA

2018 OFFICERS AND DIRECTORS

PRESIDENT Susanne Dickinson, MAI [email protected]

VICE-PRESIDENT Benjamin Davidson, MAI, SRA ....... [email protected]

SECRETARY/TREASURER Jason A. Letman, MAI [email protected]

PAST PRESIDENT Jon Vaughan, MAI ....................................... [email protected]

DIRECTORS 1 Year Dustin P. Ferguson, MAI ........... [email protected] Scott A. McHenry, MAI, AI-RRS .. [email protected] Warren B. Boizot, III, MAI [email protected]

2 Years Jeovani Gaytan, SRA ......... [email protected] Justin J. Atwell, MAI [email protected] Christopher McDermott, MAI [email protected]

3 Years Nikell M. Close, MAI, AI-GRS [email protected] Gregory Baker, MAI [email protected] Michael R. Nash, MAI, AI-GRS [email protected]

2018 REGION II REPRESENTATIVES

One Year Term Charles Nelson, MAI .... [email protected] Margaret L. Moore ....................... [email protected] Michael A. Smith, MAI [email protected] Benjamin Davidson, MAI, SRA ....... [email protected]

Two Year Term Mark R. Linné, MAI, SRA, AI-GRS .. [email protected] Michael J. Wood, MAI ............ [email protected] R. Scott Woods, MAI [email protected]

Alternate John P. Nisley, MAI Robert O, Stevens, MAI, SRA Ronald L. Throupe, MAI Ronald J. Gazvoda, MAI Brent L. Hoag, MAI

2018 CHAPTER COMMITTEE CHAIRS

Candidate Guidance Advisors Bonnie Roerig, MAI, AI-GRS . [email protected] Sara Hillman, SRA [email protected]

Candidate Guidance Committee General: R. Scott Woods, MAI ........ [email protected] Residential: Warren B. Boizot, III, SRA [email protected]

Education Chair Mike Nash, MAI, AI-GRS [email protected]

Government Relations Brett Wilkerson [email protected]

Guest Editor Mark Linné, MAI, SRA ..................... [email protected]

I just finished my USPAP update course and I feel like celebrating…because this moment is when I have the longest time until I have to endure that again (no offense to our outstanding local instruc-tors who do their very best to make this as good as it can be). I also can’t help but wonder where 2017 went. As I approach the end of my term as chapter president, I have many people to thank for their help through this year.

Thank you, Sherry, for your tireless efforts to make sure that all of our educational offerings, chapter meetings, and operations run smoothly. Also, I’m sorry that my presidency gave you a heart attack.

Thank you, Mike Nash and the Education com-mittee. This committee once again developed outstanding education seminars that were timely and relevant. The education you develop gives our members a consistent edge over their com-petitors because of the knowledge gained in these seminars.

Thank you, Scott Woods and Warren Boizot, for coordinating the candidate guidance events. The pub crawl through RiNo was certainly one of the highlights of the year!

Thank you, Bonnie Roerig and Joshua Walitt, for your work on the Advisors committee. Thanks to this committee, we currently have ample advi-sors for our candidates pursuing designations.

Thank you, Susan Ebert-Stone and the Government Relations committee. With your efforts, our members are well represented in the Colorado Coalition of Appraisers.

Thank you, Rick Mosier, for ensuring that our bylaws are up to date. When Rick started on the Bylaws committee, they had to chisel the changes into stone tablets.

Thank you, Mark Linné, for your exceptional newsletter articles that make us think about the future of the appraisal business. You’ve inspired me to consider how I could use technology to streamline my work.

Finally, thank you to our board of directors and region representatives for your work to improve our chapter and the Appraisal Institute. This has been a great year for our chapter thanks to the hard work of all of these volunteers. Thank you all.

PRESIDENT:Bret R. Poole, MAI................................................303.297.0400.........................................................bpoole@bowesandco.com

VICE PRESIDENT:Doug Nitzkorski, MAI..........................................303.789.1515..................................................................doug@avcvalue.com

SECRETARY/TREASURER:Louis J. Garone, MAI, SRA..................................303.324.3403...............................................................Garone3@comcast.net

PAST PRESIDENT:J Virginia Messick, MAI.......................................303.623.4908......................................................................jvmenb@msn.com

DIRECTORS:One Year

Sue Dickinson, [email protected]. Michael Rinner, MAI ..................................303.662.0155

[email protected] A. Schwartz, MAI ....................................303.671.7511

[email protected] Years

Arthur R. Alarcon, SRA ....................................303.914.2919arthur.alarcon@va.gov

Sue Anne Foster, MAI, SRA [email protected]

Dana L. Larson.................................................303.914.9565dana@cradenver.com

Three YearsDeane L. Davenport, MAI, SRA ............................................

[email protected]. Becky Krone, [email protected] Nelson, [email protected]

One-Year Term Jack Nisley, MAI, [email protected]

Mark Pope, [email protected]

Marge [email protected]

Two Year Term John D. Freeman, MAI, [email protected]

Rodman Schley, [email protected]

Karen L. Tool, [email protected]

Tom W. Webb, [email protected]

Alternates: Richard C. Mosier, MAI, [email protected]

Richard M. Borys, [email protected]

M. James Tiedemann, [email protected]

Millie K. [email protected]

Advertising Policy1. Advertisements must be camera-ready.2. Advertisements must represent closely-related businesses or

services to the real estate appraisal field.3. All advertisements submitted for publication are subject to

the Editor and Publisher’s approval.4. Appeals for rejections will be submitted to the Board of

Directors and their decisions are final.5. Fees are as follows:

Member Non-Member

Full Page 7" x 10" $165 $175Half Page 7" x 5" or 33⁄4" x 10" $ 90 $100Quarter Page 31⁄2" x 41⁄2" $ 50 $ 601/8 Page (Bus. Card size)

31⁄2" x 2" $ 30 $ 40

Colorado Chapter does not endorse any product or serviceadvertised in this newsletter.Send camera-ready copy and check to:

Appraisal Institute, 1540 S. Holly, #5, Denver, CO 80222

If you have questions, please call 303-691-0487Outside Denver metro area 1-800-571-0086

www.colo-ai.org

Admissions - Member Retention & DevelopmentGeneral:

Charles Nelson, MAI [email protected]:

Claudia D. Klein, SRA [email protected] News Editor

Barb Kazmarek, MAI [email protected]

Richard C. Mosier, MAI [email protected]’ Coordinating

General: John (Jack) W. Nisley, MAI ........jnisley@qwest office.net

Residential: Nancy L. Wyatt, [email protected] Chilcutt [email protected]

Associate GuidanceGeneral:

Timothy Lindsey, [email protected]:

Steve Snyder, [email protected]/Program

Margaret Moore [email protected] Relations

Rodman Schley, [email protected] Dickinson, [email protected]

Planning Committee for 2010Doug Nitzkorski, MAI [email protected]

Public RelationsDonald E. Boyson, MAI, SRA [email protected] G. Stahl, MAI, [email protected]

WebsiteDeane Davenport, MAI, SRA..................................deane.davenport@bankofthewest.com

PRESIDENT’S REMARKSby Jon Vaughan, MAI

YMARK YOUR CALENDARS… SUPPORT YOUR CHAPTER… COLORADO CHAPTER EVENTS…

2018 ProposedJanuary 26 ..............Chapter Generated Seminar/

Installation of Officers/ Board of Directors Meeting

February 1...............7-Hour USPAP/Denver, CO (Summit Conference and Event Center)

March .....................Basic Appraisal Principles, Procedures, 15 Hr USPAP

April 5 .....................Chapter Generated Seminar/Membership Meeting/ Board of Directors Meeting

June 7 .....................Chapter Generated Seminar/Membership Meeting/ Board of Directors Meeting

August 16 ...............Potpourri/ Membership Meeting

September 7, 8, 9 ... Fall Event/Breckenridge

SEE THE COLORADO CHAPTER WEBSITE FOR ADDITIONAL COURSE OFFERINGS www.colo-ai.org

I look forward to next year, as the incoming president of the Colorado Chapter. Serving as your president is a privilege and honor, something that I will not take for granted. I remem-ber walking into my first

chapter event, and being overwhelmed with the knowledge and professionalism. The Colorado Chapter helped me evolved from an appraiser wannabe to an actual appraiser, for which I am tremendously grateful.

The Colorado Chapter’s dedication to the pro-fession is exemplified by our historically strong leadership. This is inclusive of our Executive Director, Sherry Engleberg who is an extraordi-nary pied piper, fearless leader, providing us with structure, guidance and nudging when neces-sary. The Colorado Chapter remains strong, how-ever we are declining in numbers as is the larger organization. AIREA and the Society have been around for nearly 85 years. The general structure of national, regions and chapters has not changed significantly since the 1991 merger. The declining membership, does require some type of restruc-ture so that the Appraisal Institute is financially sustainable for the next 85 years. My focus for this year is to monitor the restructuring progress and participate when warranted. At the initial phase in the restructure, the Appraisal Institute formalize the following Core Values and Objectives.

Core ValueLeadership, Professional Responsibility, Advocacy, Innovation and Distinctiveness.

Objectives• Operate in ways that valuation professionals

recognize as important and that encourages their ongoing affiliation with the Appraisal Institute.

• Continue as the recognized leader of real prop-erty valuation profession, including creden-tialing, ethics and standards, advocacy, the development and delivery of education, and the timely creation of quality programs and publications.

• Operate efficiently to ensure that AI is financial stability.

• Advance the Appraisal Institute as the leading international source of real property valuation knowledge. A Governance Structure Project Team was

appointed to review the values and objectives and provide restructuring recommendation. The goal being to optimize the structure so that the Appraisal Institute will be financial feasible. While the financial health is critical, we need to remem-ber that we are non-profit organization and our first priority should be meeting the needs of our existing membership. The Governance Structure Project Team have recommended that national will handle the day to day functions; admissions, continuing education, designation/candidate pro-grams, ethics and standards, education devel-opment, finances and operations, governance, human resources and information technology. This will free up the local Chapters to recruit, yet may reduce the local membership interaction. Please review the recommendations and provide comment to the Governance Structure Project Team via their dedicated webpage: http://www.appraisalinstitute.org/governance-structure. The membership needs to participate so that going forward the Appraisal Institute continues to meet the needs of their members, along with being a recognized leader of real property valuation cre-dentialing, ethics and standards.

INCOMING PRESIDENT’S REMARKSby Susanne Dickinson, MAI

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!

www.appraisalinstitute.org/online EDUCATION

Click on the link for online education.

I have often told people that the best way to find out what is happening and going to happen in the appraisal profession is to go to the conferences of affiliated professionals in the financial services sector and look at the overlap with our profession.

Over my career, I have learned so much from assessment conferences, GIS/spatial conferences, and general real estate conferences.

I did go to the obligatory appraisal conference in 2017 in Las Vegas-and I learned very little that was new. I also attended the IAAO assessor’s con-ference (also in Las Vegas), and saw a continuing progression of new technology and spatial analy-sis that assessor’s are bringing to mass appraisal.

The two standout conferences were the Digital Mortgage and Ohio Banker’s League conferences in San Francisco and Columbus, Ohio respectively.

The Digital Mortgage conference featured cut-ting-edge technology and demonstrations from 40 innovative companies. Many of the presentations focused on LOS and CRM systems, but there were two standout companies offering mobile technol-ogy to make appraisals more efficient. The atten-dance for this conference had doubled over the previous year to more than 1,400, and there were innovators, lenders and a remarkable number of venture capitalists in the crowd. It appears that FinTech-Financial Technology, is once again a hot button for investors, as they survey the lending/financial services sector and come to the conclu-sion that this behind the curve industry sector could benefit from some of the innovation from start-ups targeting the process and products that predominate in today’s market.

The second conference that I attended was the Ohio Banker’s League conference in Columbus, Ohio. This was their annual conference, but also had an accompanying Valuation Symposium that followed the main conference.

OBL is clearly at the forefront of state organiza-tions that look to helping their members navigate an increasingly complex, regulatory-intensive world. As the second or third biggest mortgage market in the country (yes-Ohio), the state serves as a bell-weather of the challenges that face the clients that we do much of our work for. At the top of mind for the bankers is the availability of appraisers, hybrid appraisals and the impact of technology.

The president of the organization, Mike Adel-man, identified appraisal issues as one of the most critical that lenders face in the state. OBL has gone so far as to create an exclusive valuation portal through which bankers will have the abil-ity to order their appraisals from OBL-approved vendors. OBL will vet and monitor the vendors to protect everyone’s interest. In addition, OBL will provide lender and appraiser education so that everyone who orders and provides appraisals will be on the same page. It’s a fascinating concept and one that could gain traction in other states.

The next day, OBL sponsored a symposium that brought lenders, appraisers and technology pro-viders together for a full day.

Data providers, mobile appraisal and analytics providers, AMCs, and other vendors, were all there to have a roundtable on what types of business structures, technologies and data were available.

One key concept that was explored was the bifurcation of the appraisal and inspection pro-cess. There is a strong belief among many within the GSE, AMC and lender communities, that hav-ing an independent inspection performed by a knowledgeable and trained inspector, and then having that property-specific the data pushed to an appraiser for valuation analysis-is the wave of the future. A few years ago I was skeptical of the idea and the process. Today, tens of thousand of these product types are being done every month throughout the county. Lenders like them, they like the expedited turn-times, and their belief is that the quality and credibility are equal to the tra-ditional appraisal process.

The second big takeaway is the profusion of analytics that are available to an appraiser to facil-itate and expedite the appraisal process. Its inter-esting to note that the analytics providers were not a monolithic block-rather, it appears there are two camps. The first suggests that appraisers are capable of utilizing advanced technology with the proper training and can fuse technology, analyt-ics and their own market knowledge to provide high-quality and credible appraisals in a timely manner, aided by technology. I’ll be honest and tell you I am squarely in that camp.

Guest EditorBy Mark R. Linné, MAI, SRA, AI-GRS

A Tale of Three Conferences

(continued on next page)

The other camp offers analytics provided by very smart data scientists who insist that they know markets better through their analysis, and that appraisers should accept their conclusions on adjustment factors, trends and values in the preparation of an appraisal. I strongly disagree with this perspective and have argued the same for almost two decades in articles and three Appraisal Institute books. My perspective has not changed-but ultimately the market and the regulators will make that decision.

All of this was discussed exhaustively at the Ohio conference.

So you may say-what does Ohio have to do with Colorado? The same forces will impact our state, and we can gain insight to see what Ohio is doing to solve their problems, and how they propose to recognize, evaluate and solve their problems in appraisal and technology. We benefit by learning how lenders are proposing to deal with appraisal challenges, and evaluate what that might mean for us.

My ConclusionsSo what was the take-away’s from these con-ferences? A lot is bubbling and brewing in the financial services sector. It would do us good to remember we are but a small piece of a very large pie. There are tectonic forces at work to drive efficiencies through the loan origination process. Appraisal is clearly a bottleneck issue-but very few have emerged to offer significant solutions.

The bifurcation of the profession has a real chance of becoming the new norm-regardless of the belief of many in our profession that it some-how represents a violation of USPAP or is bad busi-ness practice. I’ve run the numbers and it could make sense for residential appraisers.

We each need to be aware of the forces that are impacting our profession. We must be aware of and apply or skill sets to the benefit of our clients, and one way of accomplishing this is by looking at the knowledge that comes from attending these industry events. I know many appraisers who think that conferences are a waste of time. They are simply wrong. I would strongly encourage you to attend a valuation conference this year and also attend an allied real estate or technology confer-ence that is slightly outside your comfort zone.

Here is your homework: the next “big thing” is CECL. It will have a profound impact on our indus-try because it will have a big impact on lenders

and how they recognize collateral risk. I would venture a guess and say that 99% of appraisers have no idea what CECL is or what it represents. If it impacts your clients-it will impact you. Google it and do some research. I’ll talk more about it in a future article.

This is a take home test and no grades will be given. For your future, however, I think failing to consider changing regulations could cause you to fail. Send me an email with your answer and if you are the first-I’ll send one of my books from AI to you for your effort.

I’ve learned a lot from these conferences-I would encourage you to look beyond the bound-aries of the appraisal world to anticipate and pre-pare for the changes ahead.

Mark R. Linné, MAI, SRA, Al-GRS, was selected as the 2012 winner of the Valuation Visionary award by the members of the Collateral Risk Network, made up of the nation’s Chief Appraisers, GSE’s and key national stake-holders, Mr. Linné is recognized as the nation’s leading valuation futurist, as well as an author or co-author of four books, more than 50 articles, keynote speaker, presenter, expert witness, blogger, software developer/ inventor with two patents, columnist, instructor, course developer and serial entrepreneur and presently serves on the Editorial Review Panel of The Appraisal Journal, and numerous other committees and panels through-out multiple organizations. Mark can be reached at: [email protected]

Editorial (continued)

FIND AN APPRAISERCOLORADO CHAPTER MEMBERS OF THE APPRAISAL INSTITUTE

PLEASE BE ADVISED THAT THE COLORADO CHAP-TER OF THE APPRAISAL INSTITUTE MAY NOT SPE-CIFICALLY RECOMMEND AN APPRAISER.WHEN THE CHAPTER OFFICE RECEIVES A PHONE CALL REQUESTING THE SERVICES OF AN APPRAISER WE MAY ONLY DIRECT THAT CALLER TO THE WEBSITE AND RECOMMEND THEY CLICK ON “FIND AN APPRAISER NEAR YOU”THIS POLICY IS ASSOCIATION BEST PRACTICE AND IS MANDATED BY THE APPRAISAL INSTITUTE.

TONY P’S SOCIAL

NOVEMBER 13, 2017, Members and guests attended the final Colorado Chapter’s membership meeting and then enjoyed Conversations, Cock-tails, and an Italian Dinner at Tony P’s Restaurant in Denver.

On August 23, 2017, the Florida Court of Appeals issued an opinion affirming the dismissal of a lawsuit for professional negligence against an appraiser brought by a loan claim servicer. Llano Financing Group, LLC v. Yespy, 2017 WL 3616396 (Fl. App. 2017) (unpublished and subject to revi-sion or withdrawal). The court dismissed the case because, among other things, the claim servicer was not an intended user of the appraisal.

In the original refinance transaction, the home-owner/borrower employed a mortgage broker who in turn hired the appraiser. The appraisal listed the mortgage broker as the “Lender/Client”. The appraisal stated the mortgage broker could “dis-tribute” the report to the “borrower, other lenders, the mortgagee, or its successors and assigns, and secondary market participants.” These persons could also “rely on this appraisal report as part of any mortgage finance transaction . . . .” In a dif-ferent section, the appraisal stated: “THE CLIENT IS THE INTENDED USER OF THIS REPORT. NO OTHER INTENDED USERS HAVE BEEN IDENTI-FIED BY THE APPRAISER.” (emphasis in original).

After closing, the mortgage was sold to a series of lenders. The right to assert negligence claims was then assigned to a series of companies, the last of which was the “claim servicer”, i.e. Llano Financing Group (“Llano”), the Plaintiff in the case. Llano alleged damages because the home’s actual value was less than the appraised value and the property was foreclosed on. Llano alleged it could bring a claim against the appraiser under § 552 of the Restatement (Second) of Torts. In a nutshell and subject to certain limitations, § 552 (which has been adopted in Colorado), allows a person to sue a professional if the professional intended to supply the information to that person to rely upon and influence a transaction. Based upon Florida case law and the intended user provi-sions in the appraisal, the Florida Court of Appeals decided that because Llano was not involved in the original mortgage transaction, Llano did not have standing because it could not justifiably rely on the appraisal to bring a claim under § 552.

In Colorado, liability for negligent misrepresen-tation “is limited to loss suffered ... by the person

or one of a limited group of persons for whose ben-efit and guidance [the alleged tortfeasor] intends to supply the information or knows that the recip-ient intends to supply it.” Mehaffy, Rider, Wind-holz & Wilson v. Cent. Bank, N.A., 892 P.2d 230, 236 (Colo.1995) (quoting Restatement [Second] of Torts § 522); see also Wolther v. Schaarschmidt, 738 P.2d 25 (Colo. App. 1987) (even though home-buyer did not receive copy of engineering report used by the appraiser before closing, engineer could be liable to homebuyer under § 522 because engineer knew the report would influence the loan transaction and the homebuyer could have relied upon lender’s approval of the loan as confir-mation that the engineer’s report was favorable).

The Colorado Courts have not yet construed § 522 in the context of an appraisal. However, the Llano case illustrates the potential dangers of broad and conflicting intended user provisions. Recall that one of the provisions in the appraisal allowed reliance by the “mortgagee or its suc-cessors and assigns... and other secondary mar-ket participants as part of any mortgage finance transaction . . . .” The Florida court could have decided that this provision meant the appraiser intended for a subsequent purchaser of the loan to rely on the appraisal as a part of any transfers of the loan and also for any assignees to rely on the appraisal as part of any assignment transactions. Fortunately for the appraiser, the Florida court was instead persuaded by another provision in the appraisal limiting reliance solely to the client (i.e. the original lender) as well as by prior Florida caselaw construing § 522 of the Restatement.

Please contact me at (303) 773-8100 [email protected] if you have ques-tions or concerns about this article or the Llano case.

Michael R. McCormick, Esq., Montgomery, Little & Soran, PC, defends professionals including attorneys, appraisers, and real estate brokers against professional liability, malpractice, and disciplinary actions. He also handles real estate and eminent domain matters. Michael can be reached at [email protected].

Legal Update - 2017 Florida Court of Appeals case dismisses professional negligence claim against appraiser based upon intended user provision

By Michael McCormick, Esq.

Colorado Board of Assessment AppealsThe following individuals have been appointed to the Colorado Board of Assessment Ap-peals by the Honorable John W. Hickenlooper, Governor of the State of Colorado:

Appointee: Location: Term Expiration:

Sondra W. Mercier Westminster July 1, 2018MaryKay Kelley Silverthorne July 1, 2018Louesa Maricle, MAI Denver July 1, 2018Gregg A. Near, MAI Lakewood July 1, 2018Amy J. Williams, MAI Hayden July 1, 2018Diane M. DeVries Wheat Ridge July 1, 2019James R. Meurer, MAI, SRA Golden July 1, 2019Debra A. Baumbach Littleton July 1, 2021

The annual Chapter Leadership Program was held in Chicago October 26-27, 2017. Attending the program, Sherry Engleberg, Colorado Chap-ter, Executive Director and incoming 2018 Colo-rado Chapter President, Susanne Dickinson, MAI. Sessions included Appraisal Institute topics such as Finance, Education, Governance, and Adminis-tration Policies.

Susanne Dickinson, MAI receiving her 2018 Chapter President’s pin from incoming 2018 Appraisal Institute

President, James Murrett, MAI, SRA

Chapter Leadership Program

ORDER YOUR PERSONALIZED NAME BADGE TODAY!

ABC ReproGraphics, 8400 E. Iliff Avenue Unit #2, Denver, CO 80231

1. CALL TO ORDER 303.755.8984 — FAX # 303.755.89462. GIVE THEM THE INFORMATION: COLORADO CHAPTER

APPRAISAL INSTITUTE NAME BADGE3. GIVE THEM THE NAME AND INFORMATION YOU WANT ON YOUR BADGE4. GIVE THEM YOUR MAILING ADDRESS5. GIVE THEM PAYMENT INFORMATION. $13.00 INCLUDES BADGE AND MAILING CHARGE

PROUDLY WEAR YOUR CHAPTER NAME BADGE AND ATTEND COLORADO CHAPTER MEETINGS AND OFFERINGS – SUPPORT YOUR CHAPTER!

Colorado Chapter of the Appraisal Institute Presented theANNUAL FALL EVENT!!!

Beaver Run Resort & Conference Center620 Village Rd., Breckenridge, CO 80424

September 8, 9, 10, 2017BEAVER RUN RESORT & CONFERENCE CENTER, BRECKENRIDGE, CO

FALL EVENT CHAIR: Jason Letman, MAI

FRIDAY, SEPTEMBER 8“TRENDS IN HEALTHCARE REAL ESTATE” PRESENTERS: Michael Martin, MAI, Martin Property Research, Inc. Tom Baroch, MAI, CBRE Inc Pamela Pyms and Hayden Behnke, Blueprint Healthcare RE Advisors.Healthcare is a changing field. So is the real estate that houses it. Discussion of insights on the senior living facilities. Insights regarding what drives the medical office market and what factors to consider in valuing these properties.

SATURDAY, SEPTEMBER 9“COLORADO PROPERTY TAXES”PRESENTERS: Marcus Scott, MAI, Arapahoe County Assessor’s Office Curt Settle, Deputy Director, Colorado Division of Property Taxation Mike Beery, Division Director/ Administrator, Board of Assessment AppealsThis session took a look at the property tax structure in Colorado. Questions answered: How do mass appraisals in assessment differ from fee appraisal? How do the Tabor and Gallagher amendments affect taxes? How do you qualify as an expert witness at a property tax hearing?

SUNDAY, SEPTEMBER 10“VALUING FRACTIONAL INTERESTS”PRESENTER: Dennis Webb, ASA, MAI, FRICS, Primus ValuationsUndivided interests in real estate. New thinking-old thinking-where do we go from here? Valuation technology, business trends, and other practical issues. Fractional interest valuation practice has changed considerably over the past 20+ years, and the market for valuations has changed too, with the emphasis on taxation shifting to equitable distribution of family assist and exit pricing. This presentation showed you how this professional niche works, the real keys to successful valuations, and the latest technology. The entire field of fractional interest valuation will be revealed in this engaging and profitable seminar.

OKTOBERFEST IN BRECKENRIDGE

Presenters for Friday, September 8

Fall Event Presenters for “Trends in Health Care Real Estate”

Enjoying the Candidate’s September 8, 2017 Event, Base 9 Lounge, Beaver Run Resort.

Attendees of Fall Event gathered at Base 9 Lounge, Beaver Run Resort for Pizza, conversation and fun!

Presenters for September 9th Offering:

Mark Scott, MAI, Curt Settle, Mike Beery, joined by Jon Vaughan, MAI, Chapter President and Jason Letman, MAI, Fall Event Chair.

Presenter Sunday, September 10

Fall Event Chair, Jason Letman, MAI with Sunday, September 9th Presenter

Dennis Webb, MAI

Receiving his AI-GRS Certificate, Robert Sullivan, MAI, AI-GRS from Chapter President, Jon Vaughan, MAI

Congratulations on Achieving Your Designations!

Chapter President, Jon Vaughan, MAI, Presents

Designation Certificate to James Hannum, SRA

Chapter President, Jon Vaughan, MAI, Presents Designation Certificate to

Noble J. Handy, MAI

AI Region I, II, and VII met October 21 at Harvey’s Resort, Lake Tahoe

The Joint Region Meeting included discussions topics such as: AI Education, Government Relations, Candidate Guidance Liaison, State of the AI, from Scott Robinson, MAI, SRA, AI-GRS, AI Immediate Past President, and The AI Governance Structure Project Team.

colorado chapter appraisal news appraisal institute · richard c. mosier, mai ........

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