Well, 2008 is here and we are off and running.  Although the year just began, we have had a somewhat eventful beginning.  I guess the biggest news has been the “Are Your Aware” letter authored and distributed by some past presidents of the Appraisal Institute.  In this letter, some of the past presidents raised concerns regarding the possible unification with ASA and ASFMRA and possible affiliation with the National Association of Realtors (NAR), as well as concerns with the Strategic Plan regarding Valuation for Financial Reporting, and a letter from the Justice Department of President Pugh.  In response to the “Are You Aware” letter, the current Appraisal Institute Administration drafted a “Fact Sheet” addressing each of the issues raised by the past presidents.  The “Are You Aware” letter can be found by clicking here or here and the “Fact Sheet” response by the current Administration can be found by clicking here.

As I discussed in my Message published in the December 2007 Newsletter, the benefits of the Appraisal Institute are only recognized when you make the effort to get involved.  This current situation provides a great opportunity to get involved by reviewing the details of each position and being armed with all of the information possible.  It is my understanding that unification with either the ASA and/or the ASFMRA or affiliation with NAR will require a vote by the membership, having all of the information will allow each of us to make an informed choice.  Additionally, the introduction of the “Fact Sheet” stated that “candid, courteous and professional dialog with the membership is the best was to understand and resolve differences of opinion” which highlights the current administrations interest in your thoughts and concerns.  So, I urge each of you to review both documents, and all other available information, and provide your thoughts and concerns or just be prepared for future discussion.

On a more local level, a new bill relating to appraisers has been pre-filed in the Louisiana Legislature by Representative Jeff Arnold (D).  This bill will create a Peer Review Committee within the Louisiana Real Estate Appraisers Board.  The members of this Committee “shall provide assistance as necessary to the board regarding the performance of its functions and duties in pre-license and post-license review and regulation.”  The full text of this bill can be viewed by clicking here.  Again, this bill provides all of us with an opportunity to get involved.  I urge each of you to read the bill, and contact Representative Arnold and/or any of the members of the Louisiana Real Estate Appraisal Board with your questions and/or concerns. 

The Louisiana Chapter of the Appraisal Institute in association with the Louisiana Realtors Association will offer the “Quality Assurance in Residential Appraisals” seminar by Kathy, J. Coon, SRA (a Louisiana native) at the Hilton Baton Rouge Capitol Center, in Baton Rouge (201 Lafayette Street) on April 15, 2008.  This seminar was designed to identify consistent problems found by underwriters, appraisal reviewers, quality control divisions, and fraud investigators. This seminar is approved for 7 hours of continuing education in Louisiana, Mississippi, and Texas, as well as many other states.  Additionally, this seminar is approved for 7 hours of continuing education for Realtors.  Also, we have marketed this seminar to mortgage brokers and reviewers, so in addition to the course information and continuing education credit, this seminar will provide a great networking opportunity.  Click here to register for this seminar. 

The Appraisal Institute is designed to provide value to our profession, but this value will only continue as long as each of us get involved and make the organization work for all of us. 

Scott H. Adcock, MAI
2008 President
Louisiana Chapter