Category: The Appraisal Foundation

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The Appraisal Foundation to Host First Business Valuation Roundtable

Regulators, auditors, standard setters an others have expressed concern over the consistency in standards, education and qualifications, and oversight in the Business Valuation profession. In response to such comments, The Appraisal Foundation is hosting its first public roundtable discussion to obtain insight on the state of the business valuation profession, particularly as it relates to Financial Reporting. The program, titled, The Business Valuation Profession as it Relates to Financial Reporting: Where are we Headed? will be held on Monday

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Public Comment for 2014-15 USPAP

Request For Public Comment for the 2014-15 Edition of the Uniform Standards of Professional Appraisal Practice The goal of the Uniform Standards of Professional Appraisal Practice (USPAP) is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers. With this goal in mind, the Appraisal Standards Board (ASB) regularly solicits and receives comments and suggestions for improving USPAP. The possible issues and alternatives discussed in this document are intended to improve USPAP understanding and enforcement, and thereby achieve the goal of promoting and maintaining public trust in appraisal practice. The ASB is...

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TAF Receives High Marks in GAO Survey

FOR IMMEDIATE RELEASE – February 2, 2012 Contact: Paula Douglas Seidel, Executive Administrator, The Appraisal Foundation Washington, DC — A recent survey conducted by the Government Accountability Office (GAO) of state appraiser regulatory programs has produced high marks for The Appraisal Foundation regarding its effectiveness in issuing appraisal standards and appraiser qualifications. The survey, which was performed in conjunction with the GAO study issued last month entitled “Real Estate Appraisals: Appraisal Subcommittee Needs to Improve Monitoring Procedures,” contained 65 questions relating to the effectiveness of the current real property appraiser regulatory system. In addition to the effectiveness of the Foundation,...

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Real Property Appraiser Qualification Criteria Changes Adopted

Real Property Appraiser Qualification Criteria Changes Adopted by AQB Effective January 1, 2015 The Appraisal Foundation is pleased to announce that Proposed Revisions to the Real Property Appraiser Qualification Criteria (Criteria) have been adopted by the Appraiser Qualifications Board (AQB). The AQB is an independent Board of The Appraisal Foundation. The AQB is responsible for developing minimum qualifications for education, experience, examination and continuing education for real property appraisers in the United States. The Criteria, which were adopted at the December 2011 meeting of the AQB, will be effective on January 1, 2015. The changes to the Criteria are the...

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2012-2013 USPAP Now Available On-Line

The 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) is now available on-line. The 2012-13 edition of USPAP is valid for two years, effective January 1, 2012 through December 31, 2013. According to a TAF press release “the new edition includes the standards of professional practice for all appraisal disciplines as well as guidance from the Appraisal Standards Board (ASB) in the form of USPAP Advisory Opinions and USPAP Frequently Asked Questions (FAQs), featuring a compilation of more than 300 questions and answers.” To access the 2012-2013 USPAP on-line

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USPAP Again?

This article was published in the January 2012 issue of the IllinoisAppraiser Newsletter. In March of 2011 an Administrative Rule seemed to slip by without so much as a whimper. A real estate appraiser must complete the 7-hour National USPAP Update Course or its equivalent within 6 months after the effective date of USPAP. Those real estate appraisers issued a license more than 6 months after the effective date of USPAP shall complete the 7-hour National USPAP Update Course within 6 months after licensure. Wait a minute. Didn’t you just take the 7-hour National USPAP Update a few scant months...

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AI Response to NAHB on Appraisals Killing Home Sales

The Appraisal Foundation Responds to NAHB December 8 Press Release on ‘Flawed Appraisals Killing Home Sales’ December 13, 2011  – Paul Lopez – National Association of Home Builders (NAHB) Dear Mr. Lopez: We are contacting you in reference to the attached NAHB press release dated Thursday, December 8, 2011, entitled, Flawed Appraisals Killing Home Sales, Hampering Housing Recovery. As the Congressionally-authorized organization that establishes appraisal standards and appraiser qualifications in the United States, we feel compelled to address  aspects  of the press release we feel need clarification. The  press  release  quotes  NAHB  Chairman  Bob  Nielsen  as  stating,  “The  inappropriate  use ...

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VaCap Letter to VA Regarding UAD

Concerns regarding the decision of the VA to adopt UAD William Stewart Department of Veterans Affairs (VA) October 21, 2011 Dear Sandy, As president of the Virginia Coalition of Appraiser Professionals I wish to express to you our members’ deep concern regarding the decision of the VA to adopt the Uniform Appraisal Dataset (UAD). Our association has been active in our state regarding this issue and we feel this idea will only harm the quality of appraisals that our Veterans will receive in the future. It is for certain that the homeowner or new purchaser will not understand the appraisal...

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2012 – 2013 USPAP Now Available

The Appraisal Foundation (TAF) announced that the 2012 – 13 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) is now available. The 2012-2013 edition of USPAP will be valid for two years, effective January 1, 2012 through December 31, 2013. According to a TAF press release “the new edition includes the standards of professional practice for all appraisal disciplines as well as guidance from the Appraisal Standards Board (ASB) in the form of USPAP Advisory Opinions and USPAP Frequently Asked Questions (FAQs).” As with the prior edition, the new edition includes the standards of professional practice for all...

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Exposure Draft: Adjusting Comparable Sales for Seller Concessions

The best way for valuation professionals and the public to make a difference in their profession is to offer comments to the Boards of The Appraisal Foundation when exposure drafts are released for comment. The Appraisal Practices Board (APB) has recently released its first Exposure Draft entitled Adjusting Comparable Sales for Seller Concessions. All interested parties are encouraged to comment in writing to the APB before the comment deadline of December 2, 2011. Written comments on this Exposure Draft can be submitted by mail, email and facsimile:

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