2019 Appraisal Conference

March 11, 2019

8:00 a.m. ‚Äď 8:30 a.m.: Registration

8:00 a.m. ‚Äď 4:30 p.m.: Exhibits open

8:30 a.m. ‚Äď 4:30 p.m.: Writing It Better

This interactive course incorporates exercises that involve the Uniform Residential Appraisal Report (URAR) form, the Uniform Standards of Professional Appraisal Practice (USPAP), assignment conditions of FHA and Fannie Mae, all while adhering to the Dodd-Frank Act. Students will learn how to elaborate comments that have specificity as opposed to general comments.  

This course offers examples of various methods of offering summary comments. Exercises are incorporated to enhance the appraiser’s understanding of the minimum content of narrative communication necessary to supplement form reporting.  This course highlights core considerations of identifying the residential appraisal assignment and specific requirements of the inspections and preliminary analyses that must be made while performing an appraisal for mortgage underwriting and communicated to comply with federal and state agencies. The illustrative examples and collection and excerpts of handbooks, the selling guide and USPAP are presented to enhance the skills of  participants interested in their performance of a residential appraisal assignment. This hands-on curriculum requires interactive participation.  

Instructor: Diana Jacob 

8:30 a.m. ‚Äď 4:30 p.m.: 2018-19 7-hour National USPAP Update Course

The 7-hour USPAP update course, developed by the Appraisal Foundation, focuses on changes to USPAP for 2018-19 as well as appraisal issues that affect daily appraisal practice. In addition to lectures, the course includes discussion and illustrations that show how USPAP applies in situations that appraisers may encounter in everyday practice. Completion of this course fulfills the CE requirements specifying that Wisconsin state-licensed and certified appraisers complete an update course on the USPAP every two years. All students must have a copy of the 2018-19 USPAP book, which is included in the registration fee. 

Instructor: Timothy C. Andersen 

12:00 p.m. ‚Äď 1:00 p.m. : Lunch (Included in fee) ¬†


March 12, 2019

8:00 a.m. ‚Äď 8:30 a.m.: Registration

8:00 a.m. ‚Äď 3:00 p.m.: Exhibits open

8:30 a.m. ‚Äď 12:00 p.m.: Appraising Rural Residential Property

The course explores fundamental skills of developing an appraisal for residential rural properties.  The course begins with the discussion of the definition of a rural market and the change over recent years of rural markets. This course focuses on three key areas:

  1. Identifying a rural market.
  2. Completing a vacant land form when the market is rural.
  3. Understanding how to identify and develop reasonable adjustments for rural residential properties.

Time will be devoted to the USPAP SR 1-3 and 2-2 (a) with the application in a rural residential assignment, with course exercises within the chapters. Students will spend a third of class time in an interactive, hands-on activity of critical thinking in rural residential analysis. Students are offered solutions to the exercises to ensure that basic content is included in their comprehension.

Woven throughout the course are references to the USPAP 2018-19 edition guidance along with comparative sections of the various secondary markets to initiate and stimulate the rural residential analysis skills of the attendants.

Instructor: Diana Jacob

12:00 p.m. ‚Äď 1:00 p.m.: Lunch (Included in full day fee)

1:00 p.m. ‚Äď 4:30 p.m.: Looking for the Rainbow: Introduction to Disaster Valuation

2017 was inundated with natural disasters all over our country, and by the end of December 2018, FEMA declared and recorded 124 disasters, down from the 137 in 2017. When faced with the dilemma of appraising properties that suffer from either natural disaster damage or are located in a neighborhood cited as one that was severely damaged, valuation assignments become complex. This course highlights core considerations of the valuation specialist, including inspection preparation, identification of the problem to be solved, research considerations, and communication of key points in the residential appraisal assignment. The illustrative examples and collection and excerpts of handbooks, the selling guide, USPAP and other publications are presented to enhance the skills of participants interested in their performance of a residential appraisal assignment after a natural disaster.

Instructor: Diana Jacob 

or

8:30 a.m. ‚Äď 4:30 p.m.: Cost Approach to the Rescue¬†‚ÄĒ Sales Grid Adjustments and More¬†

USPAP Standards Rule 1-1 states that appraisers are to ‚Äúbe aware of, understand and correctly employ those recognized methods and techniques that are necessary to produce a credible appraisal.‚ÄĚ USPAP goes on to say, "Diligence is required to identify and analyze the factors, conditions, data and other information that would have a significant effect on the credibility of the assignment results.‚ÄĚ

This course examines recognized methods and techniques of developing quantitative adjustments for the sales grid. Pros and cons of each method are compared in light of available data, which should determine the most credible options for supporting an opinion of value. Fundamentals of logic and statistics will be reviewed as a basis to properly determine which methods suit a particular appraisal problem.  

Depreciated cost is a recognized method that will be explored in depth in this course. The age-life method of depreciation will be reviewed as the logic of the 1004 Cost Approach. This course further examines the 1004 Cost Approach and how to handle physical, functional and external depreciation. Published cost data will be analyzed to derive marginal cost, and marginal cost will be introduced as the basis for depreciated cost adjustments.

A concept called Virtual Matched Pairs will be used to show how the logic of paired sales can be applied to comparisons of depreciated cost data. Additionally, methods to automate depreciated cost calculations with Microsoft Excel will be demonstrated.    

Appraisers will finish the course with tools they can use immediately to develop and support sales grid adjustments and strengthen their workfiles. In addition to grid adjustments, appraisers will be able to calculate and support depreciation, effective age, remaining economic life and extract site value.

Instructor: Scott Cullen 

Courses will be submitted for Wisconsin Appraiser and Assessor CE, Minnesota Appraiser CE and Michigan Appraiser CE.


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