What time is it? No it's not Howdy Doody time, it's Expo time. For the 22nd year in a row MBREA and the Mass. Chapter of Appraisal Institute are co-sponsoring the New England Appraisers Expo. Once again the co-sponsors have come up with a program replete with vibrant, timely and informative topics that are sure to provide meaningful insight into our current appraisal and valuation landscape. The ability to draw the likes of internationally recognized Dr. Chip Case, to speak on the current economic position of the housing market along with Robert Murphy to illuminate us about all things UAD is indeed something that should not be missed. In the true spirit of détente, president David Bunton of The Appraisal Foundation and Bill Garber, director of government affairs and external relations at the Appraisal Institute will share the dais and discuss the changes confronting The Appraisal Foundation and the appraisal profession in the wake of the Dodd-Frank Wall Street Reform Act. The morning wraps up with Greg Bialecki, secretary of housing and economic development and noted authority on real estate trends, Jonathan Miller. After lunch, the afternoon will break into both residential and commercial presentations. Stephen Karp of New England Development will focus on the current retail environment and market conditions. Gerry McDonough, MAI, managing director of Integra Realty will discuss the valuation of another one of real estate's enigmas, marinas. On the residential side, the aforementioned Bob Murphy will pull away the curtain and show us the inner workings of how Fannie Mae is progressing since the advent of UAD. I'll finish up the afternoon with a topic sure to put the most ardent attendees into a comatose state before they rush out the door to beat the afternoon traffic. We have a number of great sponsors who will be displaying their wares throughout the day and with registrants already up over 200, we will probably max out soon. Again, not a day to be missed given the price and the fact it has to be one of the easiest and best ways to get your necessary continuing education credits.
Since I've still got a few hundred more words to go before Jeff Keller takes a hatchet to my ramblings I'd like to go back and revisit The Appraisal Foundation (TAF) for a minute. For several years TAF has been working on developing a short guide to understanding USPAP from a lender's perspective. In addition, with the Dodd-Frank requirement of providing a mortgage loan borrower with a copy of the residential appraisal on their property a minimum of three days before the closing, the need for a guide to understanding an appraisal from a consumer's standpoint became readily apparent. Through the hard work of the publications committee along with members of the Appraisal Standards Board, TAF has authored two terrific guides. Both "A Lender's Guide to USPAP" and "A Guide to Understanding A Residential Appraisal" are complete and available. The press release will take place on October 9th but we get a sneak preview. Both guides are available on-line and free of charge. Certainly these guides are great to be able to provide to your clients.
You can find them both at the following:
* http://www.tafzone.org/tafmedia/Consumer/index.html
* http://www.tafzone.org/tafmedia/Lender/index.html

Well, that as they say is a wrap - hope to see you on the 15th!

Steven Elliott, SRA, MRA, is principal at Elliott Gottschalk & Associates, Ashland, Mass.