I'm so proud to report that the first seven months of 2019 have been very eventful with many good things happening for our chapter.
By now, you probably all know that the national board of directors approved the merging of the Memphis and Greater Tennessee Chapters in May. I want to personally welcome the 89 members of the former Memphis Chapter to our newly formed chapter titled The Tennessee Chapter.
We look forward to working together to make both of the former chapters a stronger and better organization. I’d also like to thank all the former leaders of both chapters for their dedication, time and commitment over the years. Together we can continue to promote our appraisal profession and provide top-notch services from Memphis to Johnson City and all points in between.
As always, I’d like to encourage each of you to consider volunteering for leadership or committee service within our chapter. We have had eight members ask to be assigned to committees this year in addition to those already serving as committee members. That is very encouraging for our chapter's future.
We also sent six members to the Leadership Development and Advisory Council (LDAC) in Washington D. C. in May where strategic planning issues for the future of the Appraisal Institute are examined. Each participant takes part in contacting their congressional senators and representatives to discuss crucial concerns regarding issues that affect our profession. The last LDAC event hosted 105 Appraisal Institute member participants. Next year the scope is being expanded to include 120 participants.
I can't speak highly enough about my experience at LDAC. It is a wonderful opportunity, and I encourage any of you that may be interested in going to apply for consideration before the end of the year. A panel of past participants selects two new members to attend with the other "veteran attendees" each year. If chosen, you are expected to attend the conference for three consecutive years. For more information, please email Myra or contact any of our chapter’s leadership team.
I’m excited to announce the Appraiser & Banking Conference 2019 happening October 15th in Nashville. This is an inaugural event with the Tennessee Bankers Association. We have some great speakers lined up and appraisers will also receive 4 hours of continuing education for attending. Please continue reading more about this event in the article further down in this newsletter or click here for more information on the Appraiser & Banking Conference 2019.
The Appraisal Institute offers the designations of MAI, SRA, AI-RRS and AI-GRS to its membership. The details and requirements necessary to receive these designations are available to view here on the Appraisal Institute website. If you are interested in becoming a designated member of the Appraisal Institute, I encourage you to sign up for our candidate for designation program. There is a process in place to assist you in completing your classes and other requirements on
time. Our chapter has many volunteers willing to serve as candidate advisors. All you have to do is ask.
The Tennessee Chapter sent a large delegation to the 2019 AI National Conference held in Denver, CO. We had ten members in attendance. Of the ten, four made presentations at the regional meeting or national conference. So you all know, you do not have to be an officer or board member to attend. All members are welcome. It is a great event with good information, continuing education and an opportunity to meet new friends from across the national and international scene.
Lastly, we are proud of our own Leslie P. Sellers, MAI, SRA, AI-GRS for receiving the Dr. William N. Kinnard Jr. award at the annual conference. This award recognized Leslie’s efforts in contributing to the education, knowledge, professionalism and development of the real estate appraisal field. Congratulations, Leslie!
We hope to see all of you at the next chapter meeting on September 12th in Chattanooga.
Clayton Haehl, MAI, SRA, AI‐RRS
2019 Tennessee Chapter President
The Tennessee Chapter’s next meeting will be held Thursday, September 12th at the Westin Hotel in Chattanooga.
As usual, it is free for members and $25 per guest. Please register if you plan to attend.
Chapter Meeting Venue Information:
The Westin Chattanooga
801 Pine Street
Chattanooga, TN 37402
Schedule of Events:
4 p.m. – 6 p.m. – Board of Directors Meeting
6 p.m. – 7 p.m. – Cocktail Reception (cash bar)
7 p.m. – 9 p.m. – Dinner and Chapter Meeting
Parking is $10 for this event.
Again, please register here if you plan to attend.
Hotel Reservation Info:
You may utilize the special group rate of $169 at The Westin Chattanooga for two days prior, as well as, two days following the meeting.
Start Date: Tuesday, September 10, 2019
End Date: Saturday, September 14, 2019
Last Day to Book: Monday, August 12, 2019
The Westin Chattanooga for 169 USD per night
Click Here to Make Your Reservation Online.
October 15th – Appraisal and Banking Conference 2019 in Nashville, TN
The Tennessee Chapter of the Appraisal Institute is proud to be sponsoring this inaugural seminar that offers an opportunity for real estate appraisers, bankers, brokers, and attorneys to meet their professional peers during an open forum.
Facilitated by a discussion leader and featuring presenters from the appraisal and banking industries, this conference covers multiple issues related to real estate property loans and appraisals.
It has been approved for 4 hours of CE by the following entities:
• TREAC - (TN Appraisers)
• TREC- (TN Brokers & Affiliate Brokers)
• CLETN - (TN Attorneys)
and the topics and speakers for the day are listed below:
Myths & Truths About USPAP
John S. Brenan, FRICS – The Appraisal Foundation
• Changes in USPAP for 2020-2021
• How it will impact appraisals for lenders/ working within the guidelines of USPAP
• Other USPAP hot topics
Regulator’s Perspective for Appraisals
Greg Gonzales, Commissioner, Tennessee Department of Financial Institutions
• The role of bank examiners
• Bank examiners’ review of appraisals and how that supports the safety and soundness judgment
• Appraisers’ work and how that supports the examiners’ safe and soundness review
• What is happening from a national perspective on the appraisal issues
• How bankers and the appraisal community are coming together to encourage better education among all parties
Rural Appraisals & Lending—What Appraisers & Lenders Need to Know
Scott Cocanougher, CEO, First Community Bank of Tennessee &
Michael Tankersley, MAI, SRA, AI-RRS
• Learn how appraisal guidelines and lender requirements affect appraisal in rural markets
• Best practices for researching and selecting data in rural markets
• How to use limited data to support a credible opinion of value
• How to meet and exceed client expectations
Lunch with Discussion Topics for Each Table
Q&A Session with Speakers
This event will be held from 9 a.m. to 3 p.m at the
TBA Barrett Conference Center
211 Athens Way
Nashville, TN 37228
The cost is $100 per person and includes lunch.
You may find more information, as well as, register by clicking here.
Upcoming Happy Hour Events
The fall happy hour events are back by popular demand!!
Please join the Tennessee Chapter of the Appraisal Institute for a fall happy hour at Balter Beerworks in Knoxville on Friday, October 18th and again at M.L. Rose in Nashville on Tuesday, November 5th.
We will be out on the patio (weather permitting) from 4 p.m. to 7 p.m. and would love for you to join us.
There will be lots of free appetizers for all, but you will need to plan to purchase your own adult beverages. Come see old friends and network with some other appraisers. There is no need to RSVP, but we hope to see many of you there!
Friday, October 18th
Happy Hour at Balter Beerworks
100 South Broadway
Knoxville, TN 37902
4 p.m. - 7 p.m.
Balter Beerworks, Directions
Tuesday, November 5th
Happy Hour at M.L. Rose
2535 8th Ave South, #107
Nashville, TN 37204
4 p.m. - 7 p.m.
M.L. Rose, Directions
Joint Region Meeting in Denver
This year’s joint region meeting included all 10 Appraisal Institute regions and took place on Sunday, July 21, 2019 in Denver, CO.
Five members from the Tennessee Chapter were present including Chapter President, Clayton Haehl, MAI, SRA, AI-RRS, as well as, Regional Representatives Murray Huber, RM; Sandy Akridge, SRA, AI-RRS, and Seth Rohling, MAI, AI-GRS. Mike Tankersley, MAI, SRA, AI-RRS was also in attendance. Tankersley is currently serving as the Region IX Vice Chair.
AI National President, Stephen Wagner, MAI, SRA, AI-GRS, gave the State of the Appraisal Institute address. He also indicated an economic growth decrease and recession risk in 2021, suggesting that housing markets indicate most areas are top heavy, with an over-valued market. The commercial market shows price growth in the apartment sector, office market, and with retail properties. These statistics per MetroStudy.
The Appraisal Institute will go live with a new Association Management System (AMC) on October 1st. It is an online membership database & customer relations management software platform including 30+ AI systems. Education and appraiser search will be enhanced as well as additional ‘My Account’ self-service features.
The 45-day proposed amendments to the AI Regulations Nos. 1 & 2 were discussed and explained. Two of the 7 options (e-demo report and defense of reports) for the commercial demonstration of knowledge options will be removed and 1 option (the defense of reports) will be removed from residential. This is due to lack of interest in both options. These will be voted on in coming months.
The Government Relations Report included the NCUA Appraisal threshold that was approved, raising non-residential real estate loans from $250,000 to $1,000,000. North Dakota received a temporary waiver request on loans not exceeding $1M for business or farm loans and $500,000 for a residential real estate transaction. This removes the requirement to hire a licensed or certified appraiser for appraisals in federally related transactions. A threat of other states following suit is reluctantly anticipated.
Each region met separately in breakout sessions for the remaining half of the day. Discussions included possible locations of future National Conferences. Topics of new business included the certified general course tuition competition.
Lastly discussed was the number of in-person region meetings for 2020. Region IX decided to meet prior to the National Conference in Orlando, FL in August. That meeting will take place in the first quarter of 2020, most likely in Atlanta.
The evening ended with a joint reception for all regions to mingle and network.
Sandy Akridge, SRA, AI‐RRS
2019 TN Chapter Regional Representative
The Appraisal Institute Education and Relief Foundation honored Leslie P. Sellers, MAI, SRA, AI-GRS, of Clinton, Tennessee with the Dr. William N. Kinnard Jr. Award at the 2019 National Conference in Denver.
The purpose of this award is to recognize professionalism in education by a worthy academic individual or program that has contributed to the education, knowledge, professionalism and development of the real estate appraisal field. The recipient also receives a $1,000 honorarium.
The Dr. William N. Kinnard, Jr. Award was established by SREA to honor Dr. William N. Kinnard, Jr., and the Tennessee Chapter is proud to congratulate Leslie Sellers for this well-deserved achievement.
A complete list of our classes for 2019 is provided here. You can see additional information, such as pricing and location, as well as register for these classes by clicking here.
Aug. 12-13th - Residential Market Analysis and Highest & Best Use, Nashville (15 hrs)
Aug. 14-15th - Residential Site Valuation and Cost Approaches, Nashville (15 hrs)
Aug. 19-22nd - General Appraiser Site Valuation & Cost Approach, Nashville (30 hrs)
Sept. 13th - Forest Valuation for Non-Foresters, Chattanooga, (7 hrs)
Sept. 16-19th - Residential Sales Comparison and Income Approaches, Nashville (30 hrs)
Sept. 20th - Examining Property Rights & Implications in Valuation, Nashville, (7 hrs)
Sept. 23-26th - General Appraiser Sales Comparison Approach, Nashville (30 hrs)
Oct. 7-12th - Advanced Concepts & Case Studies, Nashville (40 hrs)
Oct. 15th - Appraisal & Banking Conference, Nashville (4 hrs)
Nov. 4-7th - General Appraiser Income Approach Part I, Nashville (30 hrs)
Dec. 13th - 7 Hr USPAP for 2020/2021, Nashville (available for registration in November of 2019)
Click here to register. We NEVER cancel classes, so you should always feel free to make your travel plans far in advance without fear of having to change them later. We GUARANTEE it!