Congratulations to the Newly Elected

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1 The Alabama Appraiser Announcements: Alabama Chapter of the Appraisal Institute Second Quarter 2017 Chapter Meeting BBQ Lunch Little River Canyon Center October 20 For More Information Go To: Inside this issue: Message From the 2017 President Region IX Update Atlanta Condemnation Seminar Highlights AI After Hrs Bham Orange Beach Seminar & Chapter Meeting Newly Designated Members LDAC Update Washington 2017 Education Proposed 2018 Education Scholarships 16 Congratulations to the Newly Elected President: Vice President: Treasurer: Secretary: 2018 Chapter Officers Roger Ball, MAI Christopher Pettey, Sr., MAI, SRA Mark Haller, MAI, SRA Jennifer McDade, MAI Board Member: Hayden Scott, MAI-1-year term Joe Patrick, MAI-3-year term Rusty Rich, MAI-2-year term Regional Representative: Christopher Pettey, Sr., MAI, SRA Alternate Regional Representatives: Melanie Housh, MAI Chad Anderson, SRA, AI-RRS Daniel Lincoln, MAI Lee Faircloth Melissa Calloway, SRA Joey Vegliacich, MAI, AI-GRS ACRE Residential Conference ACRE Student Outreach Follow Us at:

2 Page 2 The Alabama Appraiser Leigh Stephens, MAI President 2017 Hello, fellow appraisers! I hope everyone is enjoying their summer and finding time to relax and enjoy some down time with friends and family. AI-Alabama has been quite busy this second quarter of the year. Our Education Program continues to Message From The 2017 President: have excellent offerings, exceptional instructors, and high attendance. We were honored to have Ted Whitmer, MAI, AI- GRS come to Orange Beach to teach Common Appraisal, USPAP & Review Errors on June 23, Ted is a dynamic speaker, and his topic attracted 57 attendees, many of which came from outside of our state to attend. The seminar was followed by a fish fry, with over 50 attendees. It is apparent by our increased attendance that the annual seminar and fish fry at Orange Beach is a huge hit, and we have plans to continue this event next June 22, as well. The Alabama Chapter welcomes newly designated members, Christopher A. Pettey, Jr., who recently received the MAI Designation, William R. Grimmett, SRA, who recently received the AI-RRS Designation, and Philip E. Paulk, MAI, SRA who recently received the AI-GRS designa- tion. Thank you for your continued support in We have several upcoming events scheduled for the remainder of the year. I hope to see you soon at a chapter meeting, AI After Hours event or an educational offering. As always, please feel free to contact me if I may be of service to you. Respectfully Submitted Leigh Stephens, MAI AI Services: Ethics & Counseling Hotline-Answers to Your USPAP Questions Get free access to the Ethics and Counseling Hotline for help with questions about USPAP, business practices and more Appraisal Institute Service Center-Resource for AI Individuals, Students & Others Knowledgeable representatives are available to help you choose the education path that s best for you and support you through the designation process. Legislative Advocacy-Representation in Washington, DC The Appraisal Institute s Washington office is the only government affairs office in our nation s capital representing real estate appraisers.

3 Page 3 S e c on d Q u art er Region IX Meeting & Mini-LDAC Atlanta May The second quarter Regional Meeting was held in Atlanta on May 13 preceded by a Mini-LDAC. The MiniLDAC titled Advancing the Appraisal Profession2017 provided an opportunity for the appraisers to meet with their professional peers, during an open discussion forum, facilitated by discussion leaders and covering 6 hot topics related to the current climate of the appraisal profession. Chapter member Roger Ball, MAI lead a discussion on Professional Appraisal Organizations and Why They Are Important. The Alabama Chapter was well represented the following day at the Regional Meeting by Chad Anderson, SRA, AI-RRS, Roger Ball, MAI, Joey Vegliacich, MAI, AI-GRS and guest Mark Haller, SRA, MAI, Paulk Turner and Philip Paulk, MAI. The region heard status reports from each of the chapters. Roger Ball, MAI gave an update on the Alabama Chapter highlighting the excellent education programs and attendance. Roger Ball Joey Vegliacich and Chad Anderson

4 Page 4 The Alabama Appraiser Condemnation Appraising: Principles & Applications April 17-19, 2017 Steve Roach, MAI, SRA, AI-GRS Steve Roach, MAI, SRA, AI-GRS returned to Birmingham to teach Part 2 of the 3 Part Professional Development Litigation Series Condemnation Appraising: Principles and Applications. This was one of the largest seminars in the history of our chapter. We had 71 attendees from Alabama, Georgia, North Carolina, Tennessee, Florida, Kentucky, Mississippi, Arkansas and Missouri travel to Birmingham for this three-day educational offering. In addition, there were ten employees from the Alabama Department of Transportation which added to the diversity of the class. Steve lectured the attendees on the eminent domain process, rules and regulations governing condemnation appraisals, and important issues unique to this specialized area of valuation. Steve has years of experience in dealing with complex valuation assignments and this knowledge allowed him to share numerous stories showcasing his real-world experience. Steve s ability to take complex issues and explain them in a way that is easy to understand was appreciated by all of those in attendance. Due to a water problem at the Board of Realtors Building, the seminar was held at Rosewood Hall in downtown Homewood. The attendees really enjoyed this central location that offers numerous lunch options within a short walk. In addition, the out of town attendees loved the fact that the Aloft Hotel is located across the street from this venue. The Education Committee has more seminars scheduled for this venue in We are thrilled to announce that Steve will be returning to Birmingham to teach the third and final part of the Litigation Series on March 14-15, We are also very excited to share with the membership that Steve has agreed to be one of our speakers at the inaugural Valuation Symposium that will take place on Friday, March 16, All of these events will take place at Rosewood Hall. Stay tuned for more information regarding the Valuation Symposium and details regarding the speakers.

5 Page 5 S e c on d Q u art er AI After Hours Birmingham SoHo Social Restaurant-April 17th An AI After Hours was held at the Soho Social Restaurant following the Condemnation Seminar taught by Steve Roach on April 17th. The restaurant which is located adjacent to Rosewood Hall made the event very convenient for those attending the seminar. This highly successful gathering gave the attendees and chapter members and opportunity to socialize and mingle with fellow appraisers many of whom were from out of town. We look forward to continuing this in 2018.

6 Page 6 The Alabama Appraiser Fourth Annual Fun In the Sun Summer Seminar Was Held at Orange Beach-June 23 The fourth annual Orange Beach seminar was again a huge success. Ted Whitmer, MAI, AI-GRS, Attorney taught a class on Common Appraisal, USPAP & Review Errors to 57 attendees. Ted s vast experience in all aspects of the real estate profession for the past 30 years makes him a highly successful teacher and communicator. He is consistently one of the highest rated and sought after instructors and the chapter was very pleased to have him come to Orange Beach to teach the class. The seminar was again followed by a Margarita Bar where bartender Roger Ball served up some great tasting drinks. Chet s Seafood out of Pensacola was enjoyed by over 50 that attended the dinner. Lee Yankie also provided entertainment. We are all looking forward to next year when we will be back for more fun in the sun, good food and a great class. Mark your calendar for June 22, 2018

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8 Page 8 The Alabama Appraiser 2nd Quarter Newly Designated Members Philip E Paulk, MAI, SRA, AI-GRS The Paulk Group-Birmingham Received His AI-GRS Bill Grimmett, SRA, AI-RRS Grimmett Appraisal-Cullman Received His AI-RRS Christopher A. Pettey, Jr, MAI Pettey & Associates Real Estate Appraisers-Decatur Received His MAI Featured AI Benefit You are invited to join Site To Do Business on July 13 at 2:30 PM Central time for a webinar specifically for Appraisal Institute professionals. This webinar will focus on tools and applications that appraisers can use in evaluating highest and best use, understanding similarities in an area, getting an overall understanding of a market or mapping subject properties and comps and much more. Two names will be chosen randomly during the webinar to receive free access to STDB through the end of Register for the webinar here.

9 Second Quarter 2017 Page Upcoming Meetings and Events Aug National BOD Meeting-Chicago Sept. 26-Chapter Orientation & Planning Meeting Sept. 26-Chapter BOD Meeting Oct Joint Region V, IX, X Meeting-New Orleans Oct. 20- Subject Matter Expert Round Table-Little River Canyon Center Oct. 20-Chapter Meeting-Lunch-Little River Canyon Center Oct Chapter Leadership-Chicago Nov National BOD Meeting-Chicago December 1-Christmas Party Online Education: Learn at your own pace anytime, anywhere. Top-notch Appraisal Institute courses and seminars come straight to your desktop with online education! Learn from any computer anywhere, whenever you have time. It s easy, convenient and a great way to get the education you want. Check out the current course listing now!

10 Page 10 T he A l ab am a App rai s e r 2017-LDAC-Washington DC-May The Expert Witness The Lawyers Chad Anderson, SRA, AI-RRS Jennifer McDade, MAI Joey Vegliacich, MAI, AI-GRS Going to Capital Hill The Jury

11 Second Quarter 2017 Page 11 As a first-year attendee, I had high expectations for LDAC Thankfully, I am happy to report that LDAC 2017 was honestly the most rewarding three-day experience I ve had as a professional. The opening ceremony and general session, led by Chairman Trevor Hubbard, MAI, SRA, AI-GRS, set the stage for a productive conference full of in-depth investigation and discussion of the direction of our beloved professional organization. The level of knowledge and experience gathered in one place was, frankly, intimidating at first. Intimidation quickly gave way to inspiration, however, as the discussion groups formed and I began to meet fellow attendees who shared similar ideas and passion for our industry. Four discussion topics were explored, including 1) how to better market our organization and its designations, 2) how to proceed with additional designations and/or specialty certifications, 3) how to address the dwindling membership of our organization, and 4) how to connect mentors with the next generation of appraisers to ensure longevity and survival of our industry. It was re-energizing to see young and experienced professionals connecting with each other on these issues and thinking from their hearts. The think-tank culture of the discussion groups nurtures new ideas and protects ingenuity. Many actionable solutions came out of these discussion groups, and were summarized and presented to AI leadership at the conclusion of the conference. I m relieved that LDAC provides a venue to facilitate these suggestive changes. The leadership must now act on these suggestions and be held accountable to implement the changes that the membership deem necessary. I look forward to keeping an eye on the progress. Aside from all the thinking and discussion, we also visited Capitol Hill to do some lobbying. This portion of the program was much more shaking hands and kissing babies, and who doesn t love that. While we did not have a particular bill to support, we did meet with our representatives (or their aides) and discuss AI s talking points regarding modernization of appraisal regulations. The primary focus of these discussions was to let our Congressmen know about the issues affecting our industry and to offer our assistance when needed. These meetings were short and sweet, but fruitful nonetheless. I also bumped into Anderson Cooper on the way out, so that was fun. It was an exhausting three days, but I m grateful to the Alabama Chapter for nominating me to attend, and I highly look forward to returning next year. By: Joey Vegliacich, MAI, AI-GRS

12 Page 12 The Alabama Appraiser 2017 Educational Offerings Great Classroom Education Mentone-Little River Canyon- Subject Matter Expert Round Table - Jerry Roberson, Alabama Power, Howard Porter, MAI, CCIM, Mandel Tillman, MAI and Leslie Sellers, MAI, SRA, AI-GRS-October 20th 4 hours-(ai Price-$90 Standard Price-$90)-Approved 4 Hrs CE Credit Alabama RE Appraisers Board Registration: 11:30am-BBQ Lunch 12:00-1:00om-Seminar 1:00pm-5:00pm Relax at a Beer & Wine Reception Following the Seminar on the Patio In an effort to continuously advance the education offered by the Alabama Chapter of the Appraisal Institute, we will be presenting our first Subject Matter Expert Roundtable on October 20, This seminar will feature four experts, and will take place near Mentone, Alabama at the Little River Canyon Center. Jerry Roberson will be our first speaker and will present, A Saga in the Canyon; the Creation of the Little River Canyon National Preserve. Mr. Roberson is a graduate of The University of Montevallo with a B.A. in Economics. He has been involved in the real estate profession for over 40 years and has presented at numerous conferences across the country. His article Tradition or Stagnation? In Defense of Non-Economic Highest and Best Use, was published in the April 1997 edition of the Appraisal Journal. Mr. Roberson served as the project lead, when the tract of land that is now known as the Little River Canyon National Preserve, was conveyed to the Department of the Interior by Alabama Power Company. During this multi-year project, he worked with numerous valuation experts, methodology experts, and archaeology experts in what many consider to be one of the most complex valuation assignments of the last 25 years. Howard J. Porter, Jr., MAI, CCIM, will be our second speaker and will present, Guess, Wags, Swags. and Appraisals. Mr. Porter is a graduate of Auburn University, and has been involved with various aspects of the real estate profession since He has experience in real estate appraisal, property management, development, construction, and brokerage. His topic will discuss the use of appraisals from ancient times through today, and how the valuation profession was formed. Leslie P. Sellers, MAI, AI-GRS, SRA, will be our third speaker and will present, The Evolution of Commercial Real Estate into an Institutional Investment Asset Class and How it Affects Valuation. Mr. Sellers is a graduate of the University of Tennessee and has been an active appraiser, broker, and developer since Mr. Sellers has taught for the Alabama Chapter of the Appraisal Institute several times over the last two years, and has quickly become one of the Chapter s favorite instructors. His presentation will educate appraisers on the history, and reasons why Commercial Real Estate developed into a two-tier market, with the institution investment level being the upper tier. The topic will also include discussions on why buying motivations for the institutional level changed from the traditional location, location, location, to institutional backed credit level and bonded leases with no management responsibility (NNN leases). T. Mandell Tillman, MAI, will be our final speaker and will present, Review of Appraisal Reports: One Reviewer s Perspective. Mr. Tillman is a graduate of Jacksonville State University and has been involved with various aspects of the real estate profession for over 40 years. He has experience in real estate appraisal, consulting, development, teaching, banking, and acquisition. Mr. Tillman s presentation will provide insight on the need for review appraisals, why reviews are important and the different types of review assignments. Lastly, he will provide practical lessons that will help make the appraisal review process as easy as possible for all parties involved. It is the Education Committee s expectation that this will become an annual event, which will allow our most esteemed members to educate attendees in areas of the valuation profession where they are considered to be experts. We look forward to having you be part of this inaugural event!

13 Second Quarter 2017 Page 13 Birmingham-December 1st-Before the Christmas Party Hot Topics & Myths in Appraiser Lability Instructor: Peter Christensen, Attorney Registration: 12:30-Seminar 1:00pm-4:00pm The seminar covers current liability trends affecting appraisers and dispels some common myths and misunderstandings. Actual lawsuits and claims form the foundation of the program. These are the types of questions answered by the seminar: Who is currently suing appraisers? What do they sue for? What are the most common errors that lead to lawsuits? How do the USPAP concepts of intended use and user in an appraisal relate to an appraiser s potential liability? Based on recent case law, how can an appraiser use these concepts to protect themselves against unwarranted liability? What is the new mass litigation phenomenon that is affecting appraisers? What liability exposures exist for appraisal review work? What does E&O insurance cover? (AI Price-$90 Standard-$90) Approved for 3 Hours CE Credit Alabama Real Estate Appraiser Board Approved for 3 Hours CE Credit Alabama Real Estate Commission Little Bridge Marina BBQ from Gadsden & Rainbow City will cater lunch at the Little River Canyon Center on October 20 just prior to the Subject Matter Expert Round Table. Lunch is included in your registration. There will also be a short chapter meeting. Turkey and pork BBQ, slaw, baked beans, potato salad, banana pudding, water and sweet tea.. *Please Pam at pampaulk@aialabama.com if you plan to attend the lunch chapter meeting only. Bring Your Family and Enjoy the Beauty of North Alabama The Little River Canyon is known as the Grand Canyon of the East and is one of the most beautiful places in the state. We scheduled this seminar to coincide with the breathtaking Fall colors of Lookout Mountain. There are numerous family activities in the area including sightseeing, hiking and biking. Bring your family to enjoy a mountain weekend during the most gorgeous time of the year. The following rental information is given for your convenience and is not endorsed by the chapter. DeSoto Sate Park-Fort Payne VRBO.com-Vacation Rental By Owner Holiday Inn Express-Fort Payne Hampton Inn-Fort Payne

14 Page 14 The Alabama Appraiser Proposed 2018 Education The Education Committee met on May 23 and 2018 is shaping up to be another exciting year for education. Thank you to Roger Ball, MAI, Chairman, Joe Patrick, MAI, Mark Haller, SRA, MAI, Chad Anderson, SRA, AI-RRS, Jennifer McDade, MAI and Christopher Pettey, Jr., MAI. More Information to follow. Feb. 1-Birmingham-New Land Valuation-This new seven-hour practical applications seminar for general and residential appraisers will focus on the theme of land in transition. A collection of case studies and discussion topics will be covered.-instructor-rick Borges, MAI, SRA, AI-GRS-AI-RRS-Rosewood Hall Homewood Feb. 2-Birmingham USPAP Update-Instructor Rick Borges, MAI, SRA, AI-GRS-AI-RRS-Rosewood Hall Homewood March Birmingham-Litigation Appraising Specialized Topics & Applications-3rd in Litigation Series Instructor Steve Roach, MAI, SRA, AI-GRS-Rosewood Hall Homewood March 16-Birmingham-Valuation Symposium-More details to follow-rosewood Hall Homewood April 20-Montgomery USPAP Update June 22-Orange Beach-Compliance, Completeness & Competency-Instructor Randy Button, MAI, AI-GRS October 12-Little River Canyon-Advanced Land Valuation-Sound Solutions to Perplexing Problems- Instructor Leslie Sellers, MAI-AI-GRS Christmas Party-TBA An AI After Hours Was Held At The Tavern in Downtown Montgomery on May 17

15 Second Quarter 2017 Page 15 Residential Applications: Using Technology to Measure & Support Assignment Results-Part II May 18th-Montgomery Instuctor: James Atwood, SRA Jim Atwood, SRA taught Residential Applications Part II. Jim is the developer of the seminar and his knowledge and presentation of how to use Excel in creating graphs, charts and tables to support numerous appraisal issues gave the attendees hands on applications that they could use in their daily practice USPAP Update May 19th-Montgomery Instuctor: James Atwood, SRA Jim Atwood, SRA also taught the USPAP Update seminar the following day for those who still needed the class for recertification this year. Two USPAP classes are planned in 2018 for the new Update seminar. Be sure to take it when it first comes out.

16 Page 16 The Alabama Appraiser The program was created to support qualified chapter members in their efforts to obtain a state certification or designation from the Appraisal Institute. Please submit your applications or encourage someone you know as the deadline is fast approaching. The Candidate For Designation recipient will receive a $750 scholarship to help pay for the costs associated with attending and passing an "Advanced Level" class from the Appraisal Institute and the Practicing Affiliate recipient will receive a $500 scholarship to help pay for the costs associated with attending and passing a "General Level" class from the Appraisal Institute. Applications must be submitted to Josh Hall, MAI, Chairman of the Scholarship Focus Groups, by September 1, The Focus Groups will make recommendations of the most qualified candidates to the Board of Directors of the Alabama Chapter. The Board will then select the most qualified applicants in each category and the awards will be made at the annual Christmas Party. To get more information about requirements and an application go to and click on Scholarships under the education tab. If you have any questions please Josh at jhall@valbridge.com. *Those that are a candidate for the AI-GRS and the AI-RRS designation are eligible for the Candidate for Designation scholarship.

17 Second Quarter 2017 Page 17 Did you know that the Appraisal Institute Education Trust has a variety of scholarships available? They even have scholarships for college students and the General and Residential Review designations. Go to to find out more. Candidate for Designation Scholarship, Minorities and Women AI Course Scholarship AI Course Scholarship Undergraduate Scholarship Graduate Scholarship Minorities and Women Education Scholarship Education Incentive Program for 2017 In appreciation to the membership for support of Chapter Education the Board of Directors approved the continuation of the Education Incentive Program for The program will provide one lucky member with a $600 cash prize for attending Alabama Chapter Education. To be eligible you must attend Alabama Chapter Classroom Education. Once you have attended 21 hours of Alabama Chapter education, your name will be entered into a drawing to be held at the 2017 Christmas Party For every 21 hours of Alabama Chapter sponsored education that a member of the Alabama Chapter attends in 2017 their name will be put in a drawing to win $600 cash at the 2017 Christmas Party on December 1st. There are still two seminars in 2017 with a total of 7 more hours. The individual must be present at the Christmas Party to win the cash.

18 Page 18 The Alabama Appraiser The Alabama Chapter was proud to sponsor the First ACRE Alabama Residential Real Estate Conference. The chapter had a display table and banner to promote the use of a designated residential appraiser. Thank you to John Kidd, SRA for representing the chapter. On May 4 th, 2017, I had the privilege of representing the Alabama Chapter of the Appraisal Institute for the 1 st Annual ACREres at The Club on top of Red Mountain that overlooked the city of Birmingham. What is ACREres you ask? It is a real estate conference and expo found by the University of Alabama s Culverhouse College of Commerce Alabama Center for Real Estate. The benefits were for real estate agents as well as people involved with the housing industry as it provided educational speakers to help with sales, marketing, and trends. I listened to one of the speakers, a senior financial analyst from Federal Reserve Bank of Atlanta, who spoke about the future of the residential market, and was very informative using charts and graphs to explain the trend of housing industry. Being an appraiser, I ve come to appreciate the proper analyzation of housing trends as it helps me do my job correctly. The other speakers, specializing in marketing and sales, were phenomenal from what I was told by agents that attended. The Appraisal Institute was an exhibitor during the event. There was an expo table, Appraisal Institute banner and pamphlets all highlighting the use of designated appraisers especially the SRA. I was able to network with at least 100 people as 270 people were officially in attendance. The exposure for my company could not have been better, so other residential appraisers: take notice! Several other exhibitors were present, with some of them being larger sponsors of the event that helped bring the crowds to the conference, and they were: Listing Power Tools, Jefferson Title, ADT, Avast Realty, EXIT Realty, First Federal Bank, Home Warranty of America, Trustmark Banking and Financial Services, Cutco Closing Gifts, Park Moving & Storage, Alabama Housing Finance Authority, BioWeep, Granger Thagard Auction Marketing, Land Title Company, Leading Edge Real Estate Group, Old Republic Home Protection, Reli Title, and Statewide Title Services. Other companies, banks, and law firms were also sponsors. The conference was a success and the Appraisal Institute hopes to sponsor such events in the future! John Kidd Jr, SRA

19 Second Quarter 2017 Page 19 The Alabama Chapter Continued To Participate In the ACRE Student Outreach Program this Spring Auburn University March 7th-University of Alabama-Robert Wombwell, MAI March 29th=University of Alabama Birmingham-Jonathan Miles, SRA April 13th-Samford University-Hayden Scott, MAI April 20th-Auburn University-Scott Lakas, MAI Thank you to the members who gladly gave of their time to speak on these college campuses. This is a great opportunity to tell the next generation about the appraisal profession, the Appraisal Institute and the Appraisal Institute's Designations. Check out the Jobs Board on the Chapter Website: Under Resources-Job Board

20 Alabama Appraiser 2017 Board of Directors Alabama Chapter Appraisal Institute 270 Doug Baker Blvd. Suite Birmingham, Alabama Phone: Newsletter Designed By Pam Paulk, Executive Director President: Laura Leigh Stephens, MAI Vice President: Roger Ball, MAI Treasurer: Christopher Pettey, SR, MAI, SRA Secretary: Mark Haller, MAI, SRA Past President: Lew Watson, SRA Board Member: Hayden Scott, MAI Board Member: Jennifer McDade, MAI Board Member: Rusty Rich, MAI Regional Representative: Melanie Housh, MAI Regional Representative: Roger Ball, MAI Welcome New Members & Candidates Second Quarter 2017 Candidate for Designation SRA: Thomas Joseph Russell-Mobile Practicing Affiliate: Judith Haney-Birmingham Leadership Resource Registry Leadership Resource Registry Submissions Due Sept. 1. The 2018 National Leadership Resource Registry is now open for submissions! To be considered for national committees, individuals must express their interests within the Registry by Sept. 1. To access the Registry go to click on the tab About Us click on AI Volunteer Opportunities. Indicate your areas of interest and expertise and volunteer to serve on the National, Regional or Chapter level. Even if you filled out the Registry last year you need to fill it out for 2018.