Do you hold a Connecticut real estate appraiser license? - by Jacqueline Beauchaine

Do you hold a Connecticut real estate appraiser license? If your answer is yes, this is a must read!

The state of Connecticut has adopted new regulations that now require any licensee that falls under the Department of Consumer Protection to now submit their continuing education hours 90 days in advance of their renewal date. What does this mean for you? You must have your 28 hours of continuing education submitted to the state of CT Real Estate Appraisal Commission by January 31^st, 2024.

Required CE – 7 Hour National USPAP and 3 hour 2022 - 2024 Mandatory CT Appraisal Law Course Supervisory/Provisional Education and 18 hours of approved continuing education. The CT Chapter of the Appraisal Institute has a full slate of educational offerings to help you meet your needs.

2022 - 2024 Mandatory CT Appraisal Law Course Supervisory/Provisional Education Offerings:

• September 21 - Synchronous/Live Stream class via Zoom

1:00 pm - 4:00 pm

Instructor: John Galvin, MAI

• October 16 - In-person State of CT - DOT, Newington, CT

9:00 am - noon

Instructor: Steven Hurlbut, MAI

• November 2 - Synchronous/Live Stream class via Zoom

6:00 pm - 9:00 pm

Instructor: Bruce Hunter, MAI

• December 6 - In-person, Casa Mia at Hawthorne, Berlin, CT

2:00 pm - 5:00 pm

Instructor: Sean Hagearty, MAI

• January 23 - In-person, ValueQuest, Avon, CT

1:00 pm - 4:00 pm

Instructor: Steven Hurlbut, MAI

Practical Application
of Fundamental Analysis
- New Seminar

• October 18 - Synchronous/Live Stream class via Zoom

Instructor: Vincent Dowling, MAI, SRA

Do you find yourself hesitating before taking on an assignment requiring a Level C marketability analysis? Do you think the process is complex and time consuming? When market conditions are changing, an understanding of fundamental demand concepts and the ability to apply them is necessary to do the valuation competently. This seminar simplifies and demystifies the process of fundamental demand analysis. After reviewing market cycles and the basic economic concepts underlying fundamental analysis, you will learn how to implement the six-step process by applying the concepts to three practical case studies dealing with a general office market, land development (subdivision), and a rental apartment building. You will use basic templates that can be used later in your daily work. By the end of the seminar, you should be better prepared to start including fundamental analysis in your work.

Seminar Objectives:

• Distinguish between the fundamental (space-user) and capital (buy-sell) markets and identify the impact each has on real estate values.

• Identify the four stages of the real estate cycle and recognize the characteristics of each stage.

• Recognize the characteristics of a market at equilibrium, including equilibrium vacancy, feasibility/equilibrium rent, entrepreneurial incentive, and affordability index.

• Name the six steps in the six-step marketability analysis process and describe the typical process in each step.

• Given an equilibrium vacancy rate and quantified estimates of demand and supply, calculate residual demand and the ratio of demand to supply and interpret the result.

• Calculate subject capture for a property based on a given ratio to pro-rata share of supply.

• Recognize the strengths and weaknesses of fundamental analysis and identify situations when fundamental analysis should be included in the scope of work.

Beyond the Numbers: The Role of the Appraisers and Eminent Domain Appeals

• October 26 - In-person Casa Mia at the Hawthorne, Berlin, CT

3:00 pm - 5:00 pm

Panel: Pullman & Comley

Inconsistency: It’s Hiding in Plain sight in Your Residential Appraisal - Non-lender examples - Next level analysis New Seminar

• November 21 - Synchronous/Live Stream class via Zoom

Instructor: Maureen Sweeney, SRA, AI-RRS

Sometimes inconsistency in data, analysis, and reporting escapes even the most seasoned appraiser. This can have a major impact on the credibility of the value opinion in the appraisal report and on your credibility as an appraiser. This seminar focuses on significant inconsistencies that can affect categories like the definition of market value, market analysis and highest and best use, the three approaches, functional and external obsolescence, and reconciliation. Broad discussions about the entire appraisal process, topics you may not have given much thought about recently, will be lively, intense, and eye-opening. Every residential appraiser will find this seminar beneficial. If you are a residential appraiser who wants to expand your practice to non-lender work or you are already doing non-lender work, this seminar will take your analytical abilities to the next level!

Seminar Objectives:

• Recognize inconsistencies with the definition of market value and the need to stay consistent with the type of value opinion developed.

• Understand how market analysis supports the highest and best use decision, which drives the remainder of the appraisal process, and how to stay consistent with the highest and best use.

• Realize the need for consistency within and between the three approaches to value.

• Determine what constitutes functional and external obsolescence and how to maintain consistency with both in all three approaches.

• Complete a thorough, meaningful, and consistent reconciliation.

2022 - 2023 7-Hour National USPAP Update Course

October 25 - Synchronous/Live Stream class via Zoom

Instructor: Bruce Hunter, MAI

2022 - 2023 7-Hour National USPAP Update Course

November 14 - In-person, State of CT, DOT, Newington, CT

Instructor: Bruce Hunter, MAI

7-Hour National USPAP Continuing Education Course

December 14 - Synchronous/Live Stream class via Zoom

Instructor: Bruce Hunter, MAI

7-Hour National USPAP Continuing Education Course

January 9, 2024 - In-person, ValueQuest Avon, CT

Instructor: Bruce Hunter, MAI

For additional details/registration, please visit the Chapter website at www.ai-ct.org. Additional continuing educational offerings will be added to our schedule. Stay tuned…

Jacqueline Beauchaine is the executive director of CT Chapter of the Appraisal Institute.