Course Descriptions

Appraising REO/Foreclosures, No. 125.

Developed and Owned By Columbia Institute

In foreclosure-related appraisal assignments the appraiser may be asked to become involved in consulting while still meeting the requirements of USPAP, secondary market lenders and other legal requirements. This course focuses on those aspects of foreclosure-related roles the appraiser may be expected to play. It is intended to give the appraiser the tools he or she needs to conduct such appraisals with competence and confidence.

Peculiarities of practice in declining markets are addressed along with the development of comparable sales and adjustments. The cost approach is reviewed.

The centerpiece of the course is the appraisal of a property using three practical exercises: 1) prior to foreclosure “as is,” post foreclosure “as is,” “as repaired,” and cost to repair using the Blue Book Cost Guide for Cleaning, Reconstruction and Repairs to estimate needed rehab and cleanup costs.

Keynote

It speaks volumes that every single year, since our inception, we have had representation from Fannie Mae, Freddie Mac, the Veteran’s Administration and the Federal Housing Administration. These folks are the policy makers. When they speak, we listen. Every year they are most forthcoming about their initiatives. Those in attendance are the chosen ones who hear it here first. Be part of the growing group of appraisers “in the know” who attend our Valuation events.

Valuation Visionaries

There are never more than a handful of true visionaries in any market segment who can see the future. They own the future. They design the future. Goodness knows the appraisal space is due for something new. There isn’t anything in the appraisal space that isn’t vulnerable for change. Change is what makes everyone uncomfortable. To see the changes as they unfold will allow your appraisal practice to adjust and be part of the change component.

Legislative and Regulatory Updates

I don’t recall another time in history when legislative events were more prolific and more commanding than they are now. There is not a single culprit upon which we can place the blame for this economic meltdown. There are quite a few actors who have participated who have assisted in the current drama. Get a summary of legislative initiatives and forces that intend to make some changes. If there is one thing we do well it is to bring to you the voices who can share with you their knowledge and expertise.

Chief Appraiser Panel

This is always our most popular event. Every appraiser wants to know what’s on the mind of the lender community. These guys are particularly forthcoming about what they want, how they want it. There has indeed been a tremendous communication gap between the appraiser community and the lending community. You will get one- on- one interface with those who are in control of your future. Ask them the tough questions. And get the cold, hard facts.

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