AGENDA and NEWSLETTER

LHL HAS RELOCATED TO NEW OFFICES AT 650 SOUTH ORCAS STREET, Suite 114, on bend of the street and immediately east of the U.S. POST OFFICE IN GEORGETOWN 98108 (T. BRO. 595-A6), BETWEEN FOURTH AVENUE SOUTH AND I-5. Exit I-5 at SOUTH MICHIGAN STREET / CORSON AVENUE SOUTH, EXIT #162. ( Albro Place, #160, when coming from the south is much longer) . Bill King is unable to host the October meeting, but he will be able to host the November 4 meeting.

AGENDA

Secretary's Report
Treasurer's Report
President's Report
Election 2004 - Election Day is Tuesday, November 2
REAC next scheduled meeting to be on Friday, November 19, at the Jacob Smith House, Lacey
FNMA’s proposed changes to Form 1004, 2055, and EIGHT OTHERS!
USPAP Instructor Recertification Course sponsorship in Pacific Northwest
ACOW Monthly Meeting Schedule
ACOW’s next event
ACOW AT THE SUMMIT VI - Recap
ACOW AT THE SUMMIT VII - Scheduling and Preplanning
Web Site enhancements underway. www.acow-wa.org
ACOW membership growth
LEGISLATIVE AFFAIRS: 2005’s successor to 2SHB 1897 "Real Estate Appraiser Trainees”

Election Day is Tuesday, November 2 - Register and Vote All of the races are important, but the State Legislature District races and the Governor’s races are extremely important from ACOW’s perspective. Next are the Federal Congressional and the Presidential races. As an individual appraiser, it is your duty to make sure that every candidate in the November election knows how to spell appraiser and appraisal, and that they have active supporters and constituents who are voters as well as appraisers. Do your thing. Send money, Doorbell, Stuff envelopes, Organize, Sponsor coffees or other neighborhood events. Remember, it is Time, Talent and Treasure, as always to get the ears to hear and the eyes to see. It matters not whom you support. PLEASE GET INVOLVED with the candidate of your choice RIGHT AWAY. If the appraisal community does the job right, we are assured of having access and of being understood in Olympia and in the Other Washington during the 2005-2006 Biennium, no matter who the ultimate elected are. Some appraisers have already become deeply involved. One appraiser active in ACOW is so committed to a candidate that attending SUMMIT VI was sacrificed for the candidate. Thank you again, Madam X. Is your Voter Registration current? Be sure to confirm that it is. Then Vote!

REAL ESTATE APPRAISAL PROGRAM NEWS

The Real Estate Appraiser Program < http://www.dol.wa.gov/app/appfront.htm > now has a LISTSERV® to broadcast important messages to subscribers. 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. If you are interested in becoming a subscriber, you can sign onto the DOL Real Estate Appraiser Program LISTSERV® today. 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.

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 >.

FNMA’S PROPOSED CHANGES TO FORM 1004, 2055, AND SEVEN OTHERS

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, is a Guest Speaker at the AARO Conference. It will be interesting to hear about his remarks from David and Dean when they return to This Washington from the 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. Send your comments to the addresses on the FNMA web site.

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: October 7, 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, and September 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 AT THE SUMMIT VI

Very successful. Thank you to all who planned, attended, and presented. Looks also like a financial success.

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 legislators and those new candidates and the candidates for Governor and Lt. Gov. that are now campaigning for the September primaries. 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 before the legislature. Study it and ask questions now or at the Summit in August.

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.

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