The Appraisal Institute's Candidate for Designation Program will begin on January 1st, 2013. This program modifies the AI membership classifications and it sharpens the Appraisal Institute's focus on the designated members. While the Appraisal Institute will make promoting the education benefits of the designated appraisers a priority, they will continue to have a place for all real estate appraisers. The current Associates will decide if they want to become a Candidate for Designation (C4D), a Practicing Affiliate (PA) or an Affiliate. The C4D program is continually being detailed and updated on the AI website. Timelines and education requirements are being laid out and a new Advisor Program is in the works. The new PA classification allows for the individual real estate appraiser to remain associated with the Appraisal Institute. The Affiliate classification will continue to be utilized by other real estate professionals. The New Hampshire Chapter has been contacting each of the current Associates to answer any questions that they have regarding the new membership classifications. With less than half of the Associates in our chapter responding to date, I am pleased to report that we will have a least a dozen appraisers choosing to become a Candidate for Designation.
The New Hampshire Chapter has been fortunate in recent years that several of the core board members have stayed on to cover critical board positions for many years. As the Appraisal Institute modifies and improves its organization so it can compete and lead nationally and globally, the New Hampshire Chapter, with a strong group of C4Ds in the wings, will continue to be the leading appraisal organization in New Hampshire.
In general, the New Hampshire real estate market has gone through several years of declining residential and commercial real estate values. Over the past year, some market sectors and local market areas have been experiencing increased investor or owner-user demand that has resulted in either stabilized or rising real estate values. The historically low interest rates currently available have assisted with these spot value increases. Unfortunately, there are many sectors and market areas that have not seen an increase in demand or property values. Because this is a unique time where market trends and values may be going in multiple directions, depending on the property type and its location, the importance of having knowledgeable and experienced designated real estate appraisers to rely upon will continue to increase.
Brian White, MAI, SRA is vice president of New Hampshire Chapter of the Appraisal Institute, Hollis, NH