2012 NYSSREA President Anthony P. Girasole takes office
My father started out in this business as one of the first appraisers to be assigned a license number from the New York State Department of State. It was only fitting that I follow in his footsteps and join the ever-changing real estate appraisal industry that he found to be so rewarding. My father was also the president of what was then called the New York State Appraisal Society (NYSAS) in 1981, and 31 years later I am proud to be serving as your leader of what is now called the New York State Society of Real Estate Appraisers (NYSSREA).
We are looking forward to a busy year for our organization. NYSSREA has three governors serving on the New York State Appraisal Board. We are hoping to take advantage of this situation and make our voice heard. DOS is in the process of drafting legislation to mandate the licensing of appraisal management companies as required by the Dodd-Frank Act, and the Appraisal Board will be able to provide input on the matter. DOS is also working on drafting bill for mandatory licensing and certification for all appraisers. The board will have a chance to comment on the proposed legislation.
As the focus of this organization has always been education, we are continuing our “Appraisal Tour.” I we urge you to continually visit NYRealEstateAppraisers.com for the most up-to-date course schedule.
The 18th Annual Arthur G. McCartney Spring Appraisal Conference is coming up in May. We have moved the conference to Long Island this year in hopes of spreading the word about our organization, gaining visibility and providing excellent continuing education courses.
Don’t forget about the new WNY Appraisal Conference. The 2nd Annual WNY Conference will be held in early August. Stayed tuned for those details.
A little more about me:
I am an experienced real estate appraiser with more than 25 years of experience, most recently as president of Girasole Appraisal Company, Inc. I hold the MAI designation from the Appraisal Institute and is a New York State Certified General Real Estate Appraiser (46-4030).Currently, I am a member of the New York State Board of Real Estate Appraisal and vice president of the Upstate New York Chapter of the Appraisal Institute. I am also a long-time member of the Mortgage Bankers Association of Western New York, Niagara County, and Erie County; New York State Assessors Associations and the Western New York Chapter of the International Association of Assessing Officers. I am a second-generation real estate professional. The Girasole family has been active in local real estate; owning, managing, developing, selling and appraising for more than 60 years. I am currently on the board of the Niagara Tourism & Convention Corporation, a 1994 graduate of the Leadership Niagara program and a former board member of the Heart and Soul Food Kitchen. I live in Lewiston, NY with my wife Sandra and our two daughters.
I have thoroughly enjoyed serving as scecretary/treasurer and president-elect of this great organization and look forward to a successful 2012.
Anthony P. Girasole
2012 NYSSREA President
NYSSREA committees meet in Albany
On Monday, February 13, committees of the New York State Society of Real Estate Appraisers met at The Desmond Hotel & Conference Center in Albany, NY. President Anthony Girasole welcomed the Board of Governors. Secretary/Treasurer Dan DiSanto presented the treasurer’s report and reviewed the financials. The proposed 2012 budget was presented and approved by the Board.
The dates of the annual Fall Appraisal Conference will be November 1 – 2, 2012 at the Turning Stone Resort & Casino with USPAP on the first day. The annual Spring Conference will be held May 1 – 2, 2012 at the Long Island Board of REALTORS’ REALTOR Service Center in Woodbury, NY. Western New York (WNY) Conference Chair Anthony Girasole will research dates and course material for the next conference. A motion was made, seconded and carried to offer a 50-perent discount on membership to anyone who joins NYSSREA at any education session or conference.
Communications Committee Chair Dan DiSanto discussed the E-Newsletter and asked the group to send him ideas for articles.
Marketing Committee Chair George S. Wonica reviewed the proposed advertising brochure. With one addition to the brochure, staff and governors will move forward in using the form to obtain sponsorships for the website, conferences and E-Newsletter.
Legislative Committee members Wayne Feinberg and Steve Roefaro discussed current efforts with the Department of State Appraisal Board including mandatory licensing and the requirement for appraisal management compnaies to be licensed in New York State. A motion was made, seconded and carried to draft a letter to the Appraisal Board of New York expressing NYSSREA’s position on both issues.
The scholarship committee did not receive any applications for scholarships, therefore no scholarships were awarded. A motion was made, seconded and carried to accept handwritten and typed forms.
Social Media Committee member Jennifer Dindl-Neff reviewed the social media policy and discussed the NYSSREA Facebook page. The possibility of using additional social media outlets was also discussed.
As new business, the group discussed the possibility of creating an online CE tracker. Staff will investigate. The governors also reviewed the proposed Investment Policy for NYSSREA. A motion was made, seconded and carried to approve the policy as presented.
With no further new business, the meeting was adjourned.
to view the minutes from the Board of Governors meeting in their entirety.
Earn up to 9.5 hours of appraiser and real estate continuing education at the 18th Annual Arthur G. McCartney Spring Appraisal Conference
The 18th Annual Arthur G. McCartney Spring Appraisal Conference will be held May 1 - 2 at the Long Island Board of REALTORS’ REALTOR Service Center in Woodbury, NY.
NYSSREA and the Long Island Board of REALTORS Appraisal Division will offer “Mold Education and Risk Management” taught by David Jones. This course will teach attendees about the current issues regarding mold and the different types of mold. (Submitted for 3.5 hours of appraiser, real estate and home inspectors continuing education credit.)
In addition, “FHA Inspections: What Every Agent & Appraiser Should Know” will also be offered. Taught by Rebecca Jones, this course will teach students how to become an approved FHA Appraiser, while stressing the importance of FHA standards. This course also recognizes the importance of HUD’s minimum property requirements and standards. (Submitted for 6 hours of appraiser and real estate continuing education credit.)
Click here to view the conference brochure.
Apply for the NYSSREA John J. Noto Scholarship Award by September 1
In an effort to stimulate interest in the challenging, complex and ever-changing profession of real estate valuation, NYSSREA is offering scholarships of up to $300 to be used for NAR Appraisal courses sponsored by NYSSREA/NYSAR or a local board/association; as well as for the Appraisal Institute courses. The money can be used toward room and board, books and tuition.
Applicants with main offices in New York must have one year experience in real estate appraisal, brokerage, development and other related disciplines, and/or hold an appraiser assistant license. The applicant must show positive motivation toward real estate appraisal education and must have completed at least one real estate-related course acceptable to the Society within the last five years.
Applicants must send in a completed application, transcript or evidence of satisfactory completion of real estate and/or appraisal course and a brief biography sketch by September 1, 2012 to:
New York State Society of Real Estate Appraisers
130 Washington Avenue
Albany, NY 12210-2220
for an application and additional information.
NAR submits comments to CFPB regarding Regulation Z amendment
Recently, NAR submitted comments to the Consumer Financial Protection Bureau’s (CFPB) proposed rule amending Truth in Lending (Regulation Z) per Dodd-Frank. Much of this proposed rule may look familiar because CFPB is really just republishing regulations and proposed rules initially released by the Federal Reserve. In fact, the proposed rule states specifically that it does not “impose any new substantive obligations on persons subject to the existing Regulation Z, previously published by the Board.”
NAR’s comments were similar to those provided to the Federal Reserve in 2010. In the letter to CFPB, NAR reiterated support for greater disclosure of appraisal fees, use of an expanded definition of value to include broker price opinions, and a definition for appraisal management companies (AMC) that goes beyond the number of appraisers on the AMC panel.
UCDP to Freddie Mac and Fannie Mae required as of March 19
The Uniform Collateral Data Portal (UCDP) to Freddie Mac and Fannie Mae is now required as of March 19. The UCDP to Freddie Mac and Fannie Mae and facilitates the electronic collection of appraisal report data. Appraisal report forms for all conventional mortgages delivered to Freddie Mac on or after March 19, 2012, must be submitted to the UCDP if:
• The loan application is dated on or after December 1, 2011, and
• An appraisal report is required.
You must submit an appraisal report form to the UCDP and must receive a “Successful” status from UCDP prior to delivery.
Updates to NYSAR.com and NYRealEstateAppraisers.com
The New York State Association of REALTORS has officially launched the all-new NYSAR.com. Tailored to better suit the members’ needs, the site also has a brand new look and many enhancements were made to improve the overall user experience. These enhancements include a newly formed login process, improved navigation and much-improved search function. If you haven’t done so already, please create a “new user” account the first time you log in to the new site. Just click on “member login” and select “new user.” From there you can follow the prompts to choose your own credentials. To visit the new site, click here
NYRealEstate Appraisers.com has also been updated with a new “profile” and “Find an Appraiser” section. Additionally, there is a new log in process. Details on this process will be outlined in a letter you will soon receive.
USPAP Q&A Q
: I am aware of some appraisers who perform property tax assessment appeal assignments where their fee is based on a percentage of the tax savings to the property owner. Doesn’t USPAP prohibit an individual, who is acting as an appraiser, from accepting assignments where the fee is based on a specific outcome?
A: Yes. The Management section of the Ethics Rule states, in part:
An appraiser must not accept an assignment, or have a compensation arrangement for an assignment, that is contingent on any of the following:
1. the reporting of a predetermined result (e.g., opinion of value);
2. a direction in assignment results that favors the cause of the client;
3. the amount of a value opinion;
4. the attainment of a stipulated result (e.g., that the loan closes, or taxes are reduced); or
5. the occurrence of a subsequent event directly related to the appraiser’s opinions and specific to the assignment’s purpose.
Q: I am a state certified appraiser and as such, perform real property appraisals in compliance with USPAP. However, I have recently been asked by a client to provide them with an “alternative valuation product” that they have designed. This product, as designed, does not appear to comply with USPAP. Am I allowed to perform such an assignment as an appraiser?
A: First, it is important to understand that appraisers, not report forms, must comply with USPAP.
If you are able to perform an acceptable scope of work and make modifications and/or additions to the report that would result in USPAP compliance, then you may perform such an assignment as an appraiser. Otherwise, you must decline or withdraw from the assignment.
Q: I am aware of the USPAP requirements to disclose to the client, both prior to accepting an assignment as well as in the certification of the report, services I performed on a property within the prior three years. However, I have been told that based on this requirement, USPAP prohibits me from appraising a property more than once within a three-year period. Is this true?
: No. The requirements in the Conduct section of the Ethics Rule exist to inform the client of services that the appraiser has performed within the prior three years. USPAP places no restrictions on how many times an appraiser can appraise a specific property.
It should be noted that some appraisers may contractually agree with a client not to appraise a property for another client within a specified time frame, but agreements of this type are business decisions made by appraisers, and are not USPAP requirements.
The following appraisal CE class is sponsored by the Otsego-Delaware Board of REALTORS
Green Renovations (7.5 Hrs. Appraisal CE)
Tuesday, May 8, 8:30 a.m. – 5 p.m.
Otsego-Delaware Board of REALTORS
The following appraisal CE class is sponsored by the Elmira-Corning Regional Association of REALTORS
Mineral Rights Valuation (3 Hrs. Appraisal CE)
Thursday, October 11, 1 – 4p.m.
Elmira-Corning Regional Association of REALTORS
Our Pledge of Professionalism (3 Hrs. Appraisal CE)
Thursday, November 29, 9 a.m. – 12 p.m.
Elmira-Corning Regional Association of REALTORS
Don’t Get Short-changed with Short Sales and Foreclosures (3.5 Hrs. Appraisal CE)
Thursday, November 29, 1 – 4 p.m.
Elmira-Corning Regional Association of REALTORS