November 2004
ACOW met as scheduled on THURSDAY, NOVEMBER 4, 2004, 6:00 p.m., FEDERAL WAY.
AGENDA and NEWSLETTER
AGENDA
- Secretary's Report
- Treasurer's Report
- President's Report
- DOL Appraisal Program ListServ Ò .
- REAC next scheduled meeting to be on Friday, November 19, at the Jacob Smith House, Lacey
- Our name spawns the acronym ACOW, for better or for worse?
- FNMA’s proposed changes to its forms
- USPAP Instructor Recertification Course sponsorship in Pacific Northwest
- ACOW Monthly Meeting Schedule
- LEGISLATIVE AFFAIRS: 2005’s successor to 2SHB 1897 "Real Estate Appraiser Trainees” and Lender Pressure along with Predatory Lending and what else?
- ACOW February 2005 Seminar in Vancouver, WA, following REAC Meeting - Scheduling and Planning
- ACOW AT THE SUMMIT VII - Scheduling and Planning
- Web Site enhancements underway. www.acow-wa.org
- ACOW membership growth
- Other Old Business
- New Business
Election 2004 is almost over - 2005 Legislature at hand - Campaign 2006 to begin
Tallying of many 2004 Washington State races will be continuing this week and next. It does look like Legislative incumbents who have supported appraisers in the past have been successful in their reelection campaigns. They still need and will appreciate your support with campaign donations, which they can accept up to December 10 (thirty days before the 2005 Legislature convenes on Monday, January 10). So too will the incoming freshman member who need to get to know you, their appraiser constituents. This also applies to the winner of the Governor’s still undecided race, and to our Federal Senators and Congresspersons.REAL ESTATE APPRAISAL PROGRAM NEWS
It is imperative that every Certified and Licensed Appraiser, as well as every trainee appraiser. Sign up immediately with the DOL Real Estate Appraiser Program LISTSERV®. >. The LISTSERV® has been implemented to broadcast important messages by E-mail to its subscribers. Information already has been distributed about how to deal with lender pressure and what must be contained in your appraisal work files for each assignment. Also, see the introductory “Validation Course #AP1581” to introduce the new “Disciplinary Matrix” developed by DOL and the REAC. Go to < http://www.dol.wa.gov/app/appfront.htm > without delay.
The Real Estate Appraiser Program's goal is to enhance communication with licensees with available new technology. The messages will be sent as needed to distribute law and rule changes, real estate appraiser licensing updates, and other new information. Becoming a subscriber is the only way to be up to date on DOL Real Estate Appraiser Program news and views. There is no cost to subscribe and you may delete your address at any time. PLEASE SIGN UP TO KNOW THE NEWS.
REAC NEXT SCHEDULED MEETING TO BE ON FRIDAY, NOVEMBER 19
The next REAC meeting is set for Friday, November 19, 2004, at the Jacob Smith House, 4500 Intelco Loop SE, Lacey, WA. The oldest standing residence in Lacey, it has been restored and converted to a meeting and banquet facility by the City. It is expected that the meeting will feature the presentation of the Final Working Draft of the Appraiser Program Disciplinary Matrix first presented at the August meeting. Commission Chair Dean Potter and Program Manager David Santhuff also are expected to report on the conference of the Association of Appraiser Regulatory Officials (AARO) < http://www.aaro.net > which they will be attending this weekend in the other Washington. The meeting will be conducted according to the bylaws, which the REAC adopted for itself at the August meeting at Snoqualmie Summit. Its Agenda still is in formation, so send your thoughts to David Santhuff < dsanthuff@dol.wa.gov > and Dean Potter < deanpotter@aol.com > on topics and your concerns.
THE “ACOW” ACRONYM
It was recently suggested by an appraiser that the “ACOW” acronym does not connote a professional image, but rather sounds like a silly joke demeaning to appraisers. What do you think? Please send your thoughts to the e-mail addresses above, along with a suggested name change, which will yield some other unique and easily remembered acronym or nickname.
FNMA’S PROPOSED CHANGES TO ITS APPRAISAL FORMS
The impact of Fannie Mae’s Proposed Revisions to its Forms 1004, 2055 and eight othersis the newest of the hot topics in the appraisal world in many of our minds and on our lips. While the comment periods have closed, there is no harm with continuing to share your thoughts with Fannie Mae. Its staff is well aware that the Appraisers have many concerns, and that the forms revision project is still a new issue to many appraisers. Mark Simpson, FNMA’s Director of Property Valuation Standards and Practice, was a Guest Speaker at last month’s AARO Conference. It will be interesting to hear about his remarks from David and Dean when they return to This Washington from That Other Washington. See Announcements 04-02, 04-04 and 04-04 issued during the summer at < http://www.efanniemae.com/singlefamily/sf_forms.jhtml >. Note that the test forms are acceptable for use right now. Also note that the Condominium form goes away and is rolled into the 1004 (but is retained for Cooperative Units only). Send your comments to the addresses on the FNMA web site.
USPAP INSTRUCTOR RECERTIFICATION PROBLEM
The consensus of those attending ACOW at the Summit VI is that ACOW should explore sponsoring the one-day Instructor Recertification Course that previously Certified USPAP Instructors must attend every two years, starting by June 2005. Our problem is that The Appraisal Foundation (TAF) has not recognized the need of offering the course in the Pacific Northwest during 2005. This may lead to a shortage of instructors in the PNW. The solution might be for ACOW and/or an adjoining/adjacent state coalition to sponsor a PNW offering, just as the North Carolina Professional Appraisers Coalition did in September. Chris Eldred < cseldred@hotmail.com > is in touch with TAF staff to get further details on what would need to be done. Talk to your local chapters and appraiser community about this situation and its impact on you. Also, please go to < http//www.appraisalfoundation.org/html/events/2004recert.asp > the current schedule. Questions should be sent to Mavis Kleso < mavis@appraisalfoundation.org >.
ACOW MONTHLY MEETING SCHEDULE -- PLAN AHEAD
ACOW normally meets Every Month on the Thursday after First Monday (some years except July 4 week). 2004 MEETINGS DATES: November 4, and December 9. Then on January 6, 2005, followed by February 10, March 10, April 7, May 5, June 9, July 7, August 4, September 8, October 6, November 10, and December 8, 2005. NOW, Even months will be in Seattle and Odd months will be in Federal Way. Meetings are open to all appraisers, so please plan ahead and come.
ACOW NEW YEAR SEMINAR II
After the very successful seminar held on the afternoon of the March 2004 REAC meeting, ACOW is planning a repeat program following the REAC’s meeting scheduled for the morning of Friday, February 18, 2005 in Vancouver, WA. Gaze into your crystal ball to spot the hot appraisal practice or value-influencing economic issue at the start of 2005, and send your topic suggestions to the E-mail addresses above.
ACOW AT THE SUMMIT VII
The consensus of those at Summit VI was to meet in a similar form at Snoqualmie Summit in 2005 on August 18 and 19, the corresponding Thursday and Friday, again following the REAC meeting. The date is penciled in with the Best Western Inn, and planning is beginning. So, send in your thoughts via www.acow-wa.org .
REGISTERED TRAINEE APPRAISER PROGRAM
ACOW will put forth a 2005 sequel to 2003-2004’s 2SHB1897. Get to know your 2005 legislators along with the Governor and Lt. Governor. A PDF file of the 2SHB 1897 is at < http://www.leg.wa.gov/pub/billinfo/2003-04/House/1875-1899/1897-s2.pdf >. The staff reports and the fiscal note are available at < http://www.leg.wa.gov/pub/billinfo > as is information on all bills from recent legislatures. Study it and ask questions now.STAY ALERT
HUD remains under continuing intense pressure to revisit its withdrawn proposed new rule to change its implementation of the Real Estate Settlement Procedures Act (RESPA). THE ISSUE IS FAR FROM DEAD. Read the national press and real estate industry publications. Lending and Title industry leaders are still lobbying for bundled services in spite of opposition from the Appraisal profession and other providers outside of the packagers’ loop who will get hammered! Consumers will loose what little protection they have left in the home-buying system because appraisers and others will fall captive to the packagers to stay in a declining business.
HELPFUL HINT
For those of you who work in the City of Seattle and use the “Address Search” function of the now Department of Planning and Development (formerly DCLU) web site, the only/correct way to enter the “Street Name” of “Martin Luther King Jr.” (once “Empire”) Way South at < http://www.ci.seattle.wa.us/dclu/permitdesk/permitinfo/search.asp > is as “M L King” per an e-mail from < dpd.webteam@seattle.gov >. The following is from the web page:
Search Hints:
Enter the property address (above), and click on the Search button. The street name is the only required entry, and it must be an exact match. It does not matter whether you enter the street name in CAPS or not. Although the street number, prefix, type, etc are optional, it is recommended that you use them (to retrieve a more focused set of address results).
Notes:
Street names must be entered precisely. (eg. to search for Broad Street, you must enter "Broad", not "Bro" or "BR")
Numeric street names are entered as "2nd" or "34th", not "Second"
When the results of the search appear, you may click on the column headers to re-sort the list.
To suggest improvements to this site, or to report technical difficulties, please email the Webmaster
STAY ALERT
HUD remains under continuing intense pressure to revisit its withdrawn proposed new rule to change its implementation of the Real Estate Settlement Procedures Act (RESPA). THE ISSUE IS FAR FROM DEAD. Read the national press and real estate industry publications. Lending and Title industry leaders are still lobbying for bundled services in spite of opposition from the Appraisal profession and other providers outside of the packagers’ loop who will get hammered! Consumers will loose what little protection they have left in the home-buying system because appraisers and others will fall captive to the packagers to stay in a declining business.
ACOW MATTERS
CHAPTERS , become an active Organization Member. Your participation will benefit your members by strengthening the Appraisal Profession in our state. PLEASE SEND YOUR ACOW DUES ($25.OO per appraiser member) for 2002, 2003 and 2004. Thank you to the Seattle and Columbia Basin Chapters of AI for strong support during 2003. Funding and participation by all appraisers and chapters is the key to a successful ACOW.
ACOW needs the help of all chapters and individual appraisers with the essentials of Time, Talent and Treasure as we prepare for the future. Please do your part. Remember that our efforts through ACOW have won us an Expert Review Panel, a Commission rather than an Advisory Committee, a Dedicated Account for our fees, and much, much more. There is still a lot of work to do in order to build on these successes. Dues and donations are needed.
CHAPTER LEADERS : Please pass this newsletter on to any and all of your appraiser distribution lists so everyone knows what is going on, and please try to have a representative of your chapter attend.
CHAPTER SECRETARYS : Please send your chapter leadership and membership lists with current e-mail addresses to ACOW at seaop@qwest.net
EVERYONE: ACOW’s mailing list is only as up-to-date as you make it! Postal and electronic mailings can only go to those who keep both ACOW and DOL advised of their whereabouts. Please contact the ACOW Administration Office by E-mail at seaop@qwest.net or by Fax at 206-623-4474 or by Voice at 206-622-8425 or by USPS mail at 6351 Seaview Avenue Northwest, Seattle, Washington 98107-2664 for the detailed information.
MORE LINKS
http://www.dol.wa.gov/app/appfront.htm
http://www.appraisalfoundation.org/html/qualifications
www.cbe.wsu.edu/~wcrer ( Washington Center for Real Estate Research)
http://www.bea.gov (Bureau of Economic Analysis, US Dept. of Commerce)