Purpose of the Course
The seminar is designed to assist attorneys, appraisers and real estate professionals with valuation and other real estate appraisal questions in the context of litigation. The seminar is two days and offers the professional models to testify, procedural and evidentiary basics, Uniform Standards of Professional Appraisal Practices, and appraisal theory that is often misunderstood or misapplied.
Relevance of the Course
After years of experience and discussions with past students and attorneys that have been involved in cases, it is evident that there are common mistakes and misunderstandings concerning appraisal and consulting roles and applications of law and practice in the courts. There are literally billions of dollars in real estate cases in the country involving condemnation, property tax, leases, divorce, insurance claims and other settings where value and real estate consulting is an issue. However, there are very few quality seminars that help the attorney and real estate professional be a professional in a case. This seminar gives timely advice on how to be ethical and make sure the attorney is ethical. It also helps the participant keep the theory accurate in application and not fall for tricks that, until this seminar, have been learned largely by experience only after causing significant loss to a client.
1. To understand models of testifying
2. To understand commonly misapplied ethics within USPAP and conflicts with attorney ethics
3. To understand commonly misapplied standards within USPAP
4. To understand commonly misapplied Jurisdictional Exception considerations within USPAP and when they are at odds with attorney ethics and considerations
5. To understand common errors within the Cost Approach
6. To understand common errors within the Income Approach
7. To understand common errors within the Sales Comparison Approach
8. To understand the division between a legal and appraisal (fact) question
9. To understand the need for being objective, but adversarial (the attorney) throughout the litigation process
10. Understanding the legal & practical qualifying of an expert as well as when a potential job should be turned down
11. To understand Evidence rules that may apply to an attorney and appraiser
12. To know the difference between testifying & consulting witnesses
13. To be able to apply checklists in the process of providing appraisal or consulting services
14. To be able to offer better reporting and file contents
15. To understand when an “appraisal”, “review”, or “consulting service” is being offered
Registration: 8:00am, Seminar: 8:30am-5:00pm
Instructor: Ted Whitmer, MAI AI-GRS CRE CCIM AQB Certified USPAP Instructor served on the TALCB and was vice chairman of the Board. Ted is a Certified General Appraiser, licensed as a lawyer with the State of Texas and as a Real Estate Broker. Education includes a B.A. from Stephen F. Austin State University, an M.B.A. from Texas A&M University and a J.D. from the University of Houston Law Center.
AI Price: $495, Standard Price: $595
Approved for 16 Hrs CE Credit Alabama Real Estate Appraisers Board
Approved for 9 Hrs CE Credit Alabama Real Estate Commission
Approved for 16 Hrs CE Credit Mississippi Real Estate Appraisers Board
Approved for 16 Hrs CE Credit Georgia Real Estate Appraisers Board
Approved for 16 Hrs CE Credit Georgia Real Estate Commission
Approved for 16 Hrs CE Credit Tennessee Real Estate Appraisers Board
Approved for 16 Hrs CE Credit Florida Real Estate Appraisers Board
Approved for Attorneys: This course or a portion thereof has been approved by the Mandatory Continuing Legal Education Commission of Alabama for a maximum of 16 hours’ credit, including 0 hours of ethics.
The purpose of the seminar is to help appraisers understand that it is essential to have a fundamental knowledge of the timber market in order to perform competent forestland appraisal assignments (even if working with a consulting forester). It is also aimed at helping Foresters understand appraisal requirements and what goes into a forestland appraisal.
This will be a continuation of the seminar that Morgan taught in 2016. You do not need to have taken the first part to attend this seminar. If you did take the first class, there is much more to learn in this seminar.
Part of this seminar will include a demonstration out doors at the NaturePlex for some hands-on instruction.
Learning Objectives of this Seminar
• To Comply with the COMPETENCY RULE of USPAP
• Recognize the difference between timberland
and “timbered” land
• Converse effectively with foresters and buyers
and sellers of timberland
• Identify the difference between market value of timber, contributory value of timber, and excess
•Recognize the importance of forestry in the United States, especially the Southeast
•Identify common forestry terms relating to timber and timberland values
Morgan Mellette, MAI ACE
Morgan graduated from Clemson University with a degree in Forest Management. He worked as a procurement forester for Southland Timber Company in Augusta, Georgia, before starting his own forestry consulting business in 1979. Morgan’s primary interests are in the valuation of timber, timberland, conservation easements, rural properties, and ecologically significant and protected forestland. He is a registered forester and land surveyor in Georgia and South Carolina, and a certified general real estate appraiser in Georgia. He is a member of the Appraisal Institute (MAI), the Society of American Foresters, the Association of Consulting Foresters, and the Surveying and Mapping Society of Georgia.
Registration Includes a BBQ Lunch
Approved for 7 hours CE Credit Alabama Real Estate Appraisers Board
Approved for 7 hours CE Credit Georgia Real Estate Appraisers Board
Approved for 7 hours CE Credit Georgia Real Estate Commission
Approved for Forestry Education Credit: AL RF-Cat 3: 5 hours
By examining unusual and complex land valuation assignments, this seminar takes concepts covered in the Appraisal Institute curriculum to the next level. Besides lecture, discussion, and Q&A, sample case studies will demonstrate, primarily in Excel, conceptual and practical applications that participants will be able to incorporate into their day-to-day work. Suggested solution strategies for these assignments will be provided.
Upon completion of the seminar, participants should be able to
- Utilize a land residual technique based on a DCF analysis to value land intended for two alternative competing uses (“for rental” apartments versus “for-sale” condos).
- Determine the highest and best use of land when the legally permissible, physically possible, and financially feasible use(s) are very uncertain and cannot be determined using traditional methodologies.
- Determine land value when its value is a function of a curvilinear relationship with its appropriate unit of comparison (in this case the value of land suitable for apartment development as a function of density).
- Determine land rent using a non-traditional unit of comparison (in this case land rental value based on average traffic volume).
- Estimate the value of land subject to a long-term ground lease with multiple forms of financial benefits accruing to the land owner.
Instructor: Stephen Roach, MAI, SRA, AI-GRS
AI Fee: $195, Standard Fee: $215
Approved 7 Hrs CE Credit Alabama Real Estate Appraisers Board
Approved 6 Hrs CE Credit Alabama Real Estate Commission
Consider staying over an extra day and attending the 2nd Annual Valuation Symposium to be held at Rosewood Hall that Friday April 26th.
We are excited to welcome back Steve Roach, MAI, SRA, AI-GRS, KC Conway, MAI, Chief Economist for the CCIM Institute, and Director of Research & Corporate Engagement with the Alabama Center for Real Estate, and John Norris, Managing Director of Wealth and Investments for Oakworth Capital Bank. It is also a true honor to announce that two former Alabama Chapter members will be returning to Birmingham to speak for us in 2019: Dr. Alan Tidwell, Associate Professor of Finance and Alabama Association of Realtors Chair of Real Estate Culverhouse College of Business, University of Alabama, and Joel Baxley, MAI, Administrator of Rural Housing Services, for the U.S. Department of Agriculture.
The Aloft Hotel is across the street from Rosewood Hall. There is a group rate of $139+tax per night. Deadline to book is April 3, 2019. Call to register at 1-877-822-1111, ask for Alabama Chapter Appraisal Institute April Meeting or Click Here. Rate is good for 4/24, 4/25, 2019