Blog

RAC member Byron Miller, Valuation Magazine upzoning expert

Many cities see upzoning as an effective way to increase density and affordable housing, but how does it affect property values and land use?  Join RAC member Byron Miller, SRA, AI-RRS, RAA, as he lends his expertise, along with insight of his home town of Minneapolis, to In the ZONE by Peter Haapaniemi.  

In Minneapolis, according to Mr. Miller, traditionally, highest and best use for a single-family residence could be readily determined by using the two basic criteria of legal permissibility and physical possibility. But the potential to build multifamily units makes it necessary to factor in financial feasibility and maximum productivity.  

Read the full Valuation Magazine article here.

The Con – Featuring The appraiser’s side of the story

The Con is an in-depth investigation into the 2008 financial crisis.  Hollywood has already told the stories of Wall Street and the lenders.  This series tells the stories of the people and the appraisers.
 
The 5-part docuseries, released last week, features RAC member Jonathan Miller and three other independent appraisers interviewed and credited in Episode II. View the premiere for free and the remaining episodes can be seen in virtual cinemas across the country. 
 

Orange County Market Summary

by Craig Gilbert, CRP

If Orange County, California, were a separate nation, its economy would rank as No.42 in the world, with a $306.5 billion gross county product in 2019.  Its population of 3.2 million exceeds that of that of  22 U.S. states, and it is the sixth most populous county in the nation and the third in the state, after Los Angeles at 10.1 million and San Diego County at 3.3 million.

Commonly known as “The OC” or “OC” it is part of the Greater Los Angeles Region and is a major contributor to the state’s economic base.  Geographically, the OC borders the Pacific Ocean on the west, Los Angeles County on the north, San Diego County on the south, and the Inland Empire (Riverside and San Bernardino counties) on the east.

Join RAC member Craig Gilbert as he continues to discusses Orange County.  The full article can be found here.

Tulsa Market Summary

Mobility Magazine of the Worldwide ERC, June 2020

By Tom Allen, SCRP

Tulsa, the second-largest city in Oklahoma and the 47th-most populous city in the U.S., is situated on the Arkansas River between the Osage Hills and the foothills of the Ozark Mountains in northeast Oklahoma, a region of the state known as “Green Country.” For most of the 20th century, the city held the nickname “Oil Capital of the World.” It also features one of the nation’s largest concentrations of art deco architecture, since the city’s success in the energy industry prompted construction booms in the popular art deco style during the first half of the century. Profits from the oil industry continued through the Great Depression, helping the city’s economy fare better than most economies in the U.S. during the 1930s.

Join RAC member Tom Allen as he discusses Tulsa, Oklahoma, the town in which he has been appraising since 1971.  The full article can be found here.    

RAC member Terri Love comments on Pennsylvania’s non-essential real estate classification

Leading Pittsburgh appraiser and RAC member Terri Love SRA, AI-RRS of Kulzer Love Appraisal Services was interviewed by Pittsburgh TV station WTAE, to bring awareness to the non-essential classification of real estate appraisers and brokers. They number about 100,000 in the state, yet Pennsylvania remains an “island” in comparison to the actions of their surrounding state neighbors who have classified appraisers as “essential.”

This article describes the situation in Pennsylvania.

RAC Member Terri Love Presents at the 2019 ABN Summit

Terri Love, SRA, AI-RRS

Every fall Aires hosts a 2 day Summit to honor and share insights with the Aires Broker Network (ABN). The 2019 ABN Summit, themed “Architecture of Relocation, Building with Integrity” included opportunities to network and attend a variety of sessions. The ABN attendees were treated to a session by one of RACs own members, Terri Love of Love Appraisals in Pittsburgh – Building Value, the Architecture of a Relocation Appraisal”.

The session was co-conducted by Terri Love and Carrie Dare, CRP of Fidelity Residential Solutions. Terri and Carrie presented on the Foundations of the Relocation Appraisal Report, Components and Forecasting along with discussing integrity in the appraisal profession with the goal of providing the attendees with an overview and understanding of what the WERC Relocation Appraisal Report does and does not include and how it might differ from the Broker Market Analysis. The highlight of the session was the Q&A section, where Terri was able to answer questions regarding the process of relocation appraisals, anomalies in markets and conditions and property styles along with other burning questions the audience, primarily Relocation Directors, agents and Aires employees, had about relocation appraising.  

Terri and Carrie had a great time presenting to this audience and enjoyed the opportunity to help others understand the importance of Relocation Appraisals. 

RAC Member Francois Gregoire Named to the Appraisal Foundation Board of Trustees

 
Washington, DC (November 22, 2019) — The Appraisal Foundation announced the 2020 Officers and members of the Board of Trustees (BOT). The BOT is responsible for the governance of the organization, and appoints members and provides financial support and oversight to two independent Boards: the Appraiser Qualifications Board and the Appraisal Standards Board.

“The Foundation is fortunate to have distinguished leaders in the appraisal profession step up at this critical time to protect and advance the public trust in valuation, ” said David Bunton, president of The Appraisal Foundation. “The 2020 Officers and Trustees bring a wealth of knowledge and expertise to their roles on the Board. The appraisal profession is fortunate to have their service.”

The 2020 Officers to the Board of Trustees are:

  • Leila Dunbar of Washington, DC was appointed Chair.
  • Jeremy Gray of Pleasant Grove, Utah was appointed Vice Chair.
  • Lisa Hobart of of Birmingham, Mich. was appointed Treasurer.
  • Emerson Sutton, Jr. of St. Louis, Mo. was appointed Secretary.
  • Ronny Johnson of New Braunfels, Texas was appointed Immediate Past Chair.

Trustees who will serve in 2020 include:

  • Cindy Charleston Rosenberg of Huntingdon Valley, Pa.
  • Michael Christensen of Salt Lake City, Utah
  • Jeff Dickstein of Lake Forest, Calif.
  • Shaun Fitzgerald of North Easton, Mass.
  • Peter Fontana of Great Falls, Mont.
  • Dave GaNun of Denver, Colo.
  • Chris Greenwalt of Greeley, Colo.
  • Francois Gregoire of St. Petersburg, Fla.
  • Lawrie Hollingsworth of Annapolis, Md.
  • Tracy Johnston of Phoenix, Ariz.
  • Randall Kopfer of Galveston, Texas
  • Dayton Nordin of Boston, Mass.
  • Robert Taylor of Glen Allen, Va.
  • Raymond Wagester of Greenwood Village, Colo.
  • Jennifer Wagner of Morgantown, W.Va.
  • Edie Yeomans of Toronto, ON, Canada

Officers were elected at The Appraisal Foundation’s recent Board of Trustees meeting on November 16, 2019 in Kansas City, Mo. Officers and Trustees begin their one-year term on January 1, 2020. 

 

2019 Relocation Appraisal Report Writing Contest

Worldwide ERC® and RAC announce the Winner of their 2019 Relocation Appraisal Report Writing Contest is: 

 

Michael S. Cook, MAI, SRA

McKinney, TX

 

On Thursday, September 19, 2019,  Worldwide ERC®, the international workforce mobility association, and RAC, a premier organization providing valuation solutions for relocation and complex residential properties, announced and congratulated the winner of the 2019 Relocation Appraisal Report Writing Contest.   

The winner was chosen from over 20 entries from across the United States.  The appraisal reports were redacted so that the judges, who were report reviewers from relocation companies and appraisal management companies, did not know the identity of the contestants.  The redaction was also done to protect private information about the subject properties.

Each section of the report was evaluated for the following:

Completeness (whether all necessary information was included, and if exhibits were useful and comprehensive)

Clarity of communication (descriptions were required to render a good understanding of the elements being defined, in complete sentences with appropriate grammar)

Thoroughness (whether the appraiser researched all of the important market factors that impact the analysis)

Internal consistency (ensuring that the facts presented in the report led to the conclusions and recommendations expressed by the appraiser)  

Complexity of the assignment (determining if the report identified and communicated unique marketing challenges, and offered adequate justification for adjustments for unique/unusual challenges)

About Worldwide ERC®

Since 1964, Worldwide ERC® has been committed to connecting and educating workforce mobility professionals across the globe. A global not-for-profit organization, we are headquartered in Washington, D.C., with offices in London and Shanghai, and are the source of global mobility knowledge and innovation in talent management from Europe, the Middle East and Africa, to Asia and across the Americas. For more information, visit www.WorldwideERC.org.

About RAC

Founded in 1990, RAC continues to be the premier appraisal organization whose members focus on complex residential properties for relocation, litigation support, testimony and reviews.  RAC Members provide valuation solutions, benchmarks and insights to enable their clients to make informed decisions.  The organization is comprised of the best residential appraisers in the U.S. and literally wrote the book on relocation appraising.  Please visit www.rac.net  for additional information.

 

 

1 2 3 8