Appraisal Scoop

Bradford Technologies Brings Regression Analysis To Residential Appraisals

First appraisal technology to provide statistical analysis for GSE-approved appraisals

SAN JOSE, CA – MARCH 10, 2012 — Bradford Technologies, an innovator of valuation tools and solutions for residential appraisers and parent of the AppraisalWorld online community for appraisers, has announced the redesign of CompCruncher, its valuation technology used by appraisers to prepare statistically supported valuation reports. One of the major changes is that the system now provides regression-based analysis for GSE-approved appraisals. CompCruncher 2.0 is the industry’s first and only appraisal technology to enable regression analysis for the most commonly used residential appraisal forms.

The original CompCruncher produced Collateral Valuation Reports (CVRs), a highly accurate alternative valuation report. CompCruncher 2.0, however, can be used to create Collateral Valuation Reports as well as traditional residential appraisals on GSE-approved appraisal forms. The process of using CompCruncher will remain largely the same. But once an appraiser uses CompCruncher 2.0 to develop a value, he or she will then be offered the option of choosing the type of report to produce: a CVR, the GSE-approved appraisal form 2055, and soon the appraisal form 1004.

CompCruncher 2.0 is currently in beta testing with several lenders and appraisal management companies. Only certified and trained appraisers can use CompCruncher or CompCruncher 2.0 to create statistically supported valuations of any kind.

“Our lender partners have told us repeatedly that they want to bring the level of reliability they get with the CVR into traditional appraisals—that’s why we created CompCruncher 2.0,” said Jeff Bradford, CEO of Bradford Technologies. “Now every appraisal can benefit from the higher accuracy that results from scientific analysis. Values can be determined based on analysis of literally hundreds of properties, rather than a handful of properties—for 100 percent of the appraisals used in the market.”

More than 2,000 appraisers have been trained to use CompCruncher to prepare Collateral Valuation Reports. Working in concert with some of the nation’s largest appraisal firms, Bradford will be offering no-cost training on CompCruncher 2.0 to current CompCruncher users. The company anticipates that in 2012, it will train 5,000 more appraisers to prepare not only Collateral Valuation Reports, but also statistically supported traditional appraisals. The Collateral Valuation Report is being used by several Top 20 banks.

“Values for an entire multi-trillion dollar industry are being supported by 25-year old valuation methods for an appraisal product that today is quickly becoming a commodity. It’s time for our industry to make some serious changes in the way we value properties,” said Mark Linne, the company’s chief strategic and valuation officer. “We need to move away from the art of appraising and start incorporating science. Most appraisal technologies tout efficiency and speed, but accuracy is where we need to focus—and CompCruncher 2.0 has the ability to bring that accuracy into virtually every residential appraisal in our industry.”

About Bradford Technologies, Inc.
Founded in 1987 and based in San Jose, California, Bradford Technologies has long been recognized as the leader in innovative appraisal solutions. Among the company’s offerings are ClickFORMS™ hassle-free appraisal processing software, the AppraisalWorld online community and services portal for appraisers, and the Collateral Valuation Report (CVR) produced by CompCruncher™, the first statistically supported, USPAP-compliant valuation product. Bradford Technologies is dedicated to building trust and reliability in the appraisal profession and providing leading edge solutions for appraisers, appraisal management companies, lenders and consumers. Bradford Technologies is recognized as a Top 50 Service Provider by Mortgage Technology magazine in 2011. For more information, visit: www.BradfordSoftware.com and www.AppraisalWorld.com.

 

Media Contact
Jeri Yoshida
Strategic Vantage Marketing & Public Relations
JeriYoshida@StrategicVantage.com
310.396.8813

How To Value New or Existing Photovoltaic (Solar) Systems for Residential and Commercial Properties

This spreadsheet tool developed by Sandia National Laboratories and Solar Power Electric™ is intended to help determine the value of a new or existing photovoltaic (PV) system installed on residential and commercial properties. It is designed to be used by real estate appraisers, mortgage underwriters, credit analysts, real property assessors, insurance claims adjusters and PV industry sales staff.

For appraisers, the inputs specific to PV in the Appraisal Institute’s Residential Green and Energy Efficient Addendum can be used as inputs to PV Value™. (click here for more information)

Valuing a PV system is done using an income capitalization approach, which considers the present value of projected future energy production along with estimated operating and maintenance costs that are anticipated to occur during the PV module power production warranty timeframe.

This tool was created with Microsoft Excel® 2007, and works with both Excel® 2007 and 2010. Use of this spreadsheet requires activating macros, ActiveX controls and data connections. A detailed user manual accompanies this tool and can be found in the download area below. Sandia Labs hosted a webinar describing PV Value™ on December 7, 2011, which can be viewed at the source site below.

Updates will be made as necessary, with a new version released on or before September 1, 2012. The current version is 1.0.

Please contact Geoff Klise at Sandia National Laboratories with questions or comments related to PV Value™. He can be reached at: gklise@sandia.gov

PV Value™ v1.0
(zip file 360 KB)

PV Value™ v1.0 User Manual (SAND2012-0682P)
(pdf 1.3 MB)

Please contact Geoff Klise at Sandia National Laboratories with questions or comments related to PV Value™. He can be reached at: gklise@sandia.gov

SOURCE: http://energy.sandia.gov/?page_id=8047

NAHB House Price 'Estimator' model updated

Economist Paul Emrath of NAHB has updated a model he developed that estimates the value various features add to a home. The updated research paper and estimating tool enables builders, developers, prospective home buyers and home owners to see the impact that various physical features and neighborhood characteristics might have on the price of a home.

Looking at location factors, the updated NAHB tool finds a general tendency for house prices to be higher in the Northeast and West, as well as in central cities and suburbs. Meanwhile, prices tend to be lowest for homes built outside of a metro area, though some regional variation exists regardless of urban status.

Here's an interesting conclusion from the article:

Among other important findings, the estimator reveals that the greatest impact on a home’s value comes from adding a third full bathroom, which boosts the estimated price of a standard new home built in a Southern suburb by about $43,000. Meanwhile, eliminating the fireplace reduces the estimated price by about $24,000.

If you're still adjusting baths at $2,000 and fireplaces at $1,500 . . . You MIGHT want to go back into the market to check those out!!

Source: NAHB

One Cause of the Uneven Recovery: The Home-Buyer Credit - The Atlantic

Housing stimulus programs are history. Home buyer tax credits are water under the bridge. Still, they're part of explanation for why we're where we are, economically speaking, trying to extract ourselves from a funk the likes of which only those who lived through the Great Depression can remember.

Here, the Atlantic's Daniel Indiviglio tries to shed light on the distortive effect of the home buyer tax credit on reisdential investment, and therefore, the economy, by regraphing the quarters and pulling out the stimulus' impact.

 

Indiviglio's chart takes actual

" GDP growth (red) and then imagined what GDP would have looked like without the credit (blue). In my estimate, residential investment dropped to $321 billion in the third quarter of 2009 -- where it fell to when the home buyer credit was removed last summer and has hovered around ever since.

Here, you see that the third quarter of 2009's pop looks a little weaker. But growth looks better in most of the quarters that followed -- especially the third quarter of 2010, during which time the big fall in residential investment due to the credit's expiration cut GDP.

Better home sales would have had some effect on other aspects of GDP as well -- but just like you're seeing here, removing those effects in later quarters would have created an adverse effect."

Like other important economic events, we'll need more history to run its course before we'll be able to say it's positive or negative.

Source: The Atlantic

2010 "Net" Annual Income from Appraisal Related Services Poll by AppraisalPort

 AppraisalPort has posted a new Weekly Poll as a follow-up to last week's.  THIS week, appraisers are asked to respond with how much Net Income they made (income after expenses & taxes).

  

Visit http://www.AppraisalPort.com to vote in the poll and be SURE to read and add YOUR comments below! 

The graph below shows last week's AppraisalPort "Gross Income" survey results (with 5,000 votes cast) from last week.  Check-out how the results compare!

New Instructor-Led Appraisal Online Class - Statistics, Modeling and Finance

New Instructor-Led Online Classes Promote a Traditional Classroom Experience Through the Convenience of a Personal Computer

STAMFORD, Conn., Jan. 26, 2011 /PRNewswire/ -- CompuTaught, part of Cengage Learning and a leading developer of computer-based real estate education, today unveiled a new series of live, instructor-led, advanced appraisal courses that will be offered online via WebEx.

The new online courses feature CompuTaught's standard online registration, administration and learning management support systems while combining real-time instruction with WebEx's synchronous, interactive delivery, bringing a live classroom experience to the student's personal computer. These live, online appraisal courses have gained both International Distance Education Certification Center (IDECC) and Appraiser Qualification Board (AQB) approval and will be delivered in accordance with individual state regulations.

 

With all of the features of an onsite classroom and more, the courses feature a virtual classroom environment with audio, video, screen and document sharing, chat and other interactive elements, with instant access to required course materials. To aid with testing and engagement, the classes also include incremental assessment exams which are reviewed live by the instructors to ensure understanding. Courses include random individual student inquiries throughout the duration to verify student identity and engagement. In addition, students receive information on scheduling the proctored final exam for the course (if required).

"Moving through this digital age, the traditional classroom is shifting and a recent growth in online education is giving us the opportunity to transform the way we teach and deliver content," said Dave Shaut, vice president, CompuTaught. "These new live courses combine the trusted reliability of our computer-based real estate and appraisal education with the convenience of live instruction. We strive to continually evolve with our ever-changing customers and provide them with the most convenient and cost effective ways to work toward their real estate and appraisal education goals."

The NEXT course to be introduced, Statistics, Modeling and Finance, will be offered on Feb. 22 and Feb. 23, 2011.  The course will be led by Certified General Real Estate Appraisers and award-winning instructors Mark A. Munizzo and Lisa Virruso Musial.  This course comes at an important time for the industry, as Bradford Technologies' Appraisal Industry Predictions for 2011 indicate that certified residential appraisers and other real estate professionals are searching for courses on statistics, applied regression and advanced valuation skills to stay current or advance their career. 

Courses are IDECC, AQB and State approved and delivered online via WebEx.   For state specific information, click here http://www.careerwebschool.com/ , THEN click on Appraisal / Continuing Education on the right, THEN select your state.  On the next screen, click on the red "View Online Instructor-Led Courses" button. 

Main Features:

• 50 minute sessions w/breaks, 1hr for lunch
• WebEX with audio, video, and chat
• Textbook: eBook (PDF) and hard copy
• Quizzes reviewed live by the instructors
• Random individual student inquires throughout the course to verify student identity and engagement
• Information on scheduling the proctored final exam for the course, if required
• System Requirements: Broadband to Internet, speakers or headphones

"Many students operate under the false impression that online learning is inferior to a traditional classroom," said Sam Martin, educator, certified appraiser and creator of samthetutor.com. "In fact, according to a recent white paper from the U.S. Department of Education, online courses are just as effective as conventional classroom instruction, proving these new courses from CompuTaught as a convenient and interactive alternative for students who are seeking state approved education."

For more information on the new courses, CompuTaught's Educational Referral Network program or other online or computer-based courses offered, please visit www.computaught.com or www.cengage.com.

About CompuTaught

CompuTaught, part of Cengage Learning, is a market leader in the computer-based real estate learning market. In 1989, CompuTaught was the first in the country to offer state-approved real estate licensing courses on computer and continues to be the leading developer of computer-based education for the real estate and appraisal professions. It currently distributes its courses through more than 300 independent schools, with about 50,000 enrollments annually. For more information on CompuTaught, please visit www.computaught.com.

About Cengage Learning

Cengage Learning is a leading provider of innovative teaching, learning and research solutions for the academic, professional and library markets worldwide. The company's products and services are designed to foster academic excellence and professional development, increase student engagement and improve learning outcomes. Cengage Learning's brands include Heinle, Gale, Wadsworth, Delmar, Brooks/Cole and South-Western, among others. For more information on Cengage Learning please visit www.cengage.com

SOURCE Cengage Learning http://www.cengage.com

Fauxclosure Trends

According to the Hanley Wood Market Intelligence blog and newsletter written by Jonathan Dienhart and Ken Lee :

The most acute challenges facing the housing market as it struggles to stabilize in 2011 are an expected flood in foreclosures and weak employment growth.  Despite reaching a record-high level of activity in 2010, consensus estimates call for foreclosures to rise to new all-time highs again this year.  This is in part because a number of the largest banks suspended foreclosure proceedings in October, causing a backlog in activity.  

According to comprehensive transactional information available in Housing IntelligencePro , total foreclosures (non-seasonally adjusted) in the U.S. fell almost 29% from September to October.  Compared to the same period last year, foreclosures were off 21%.  Just before foreclosures were halted by the banks in October, the number of foreclosures in September hit an all-time high for any month since the beginning of our data series in 2005.  This suggests that foreclosures would likely have remained on the rise if the freeze not taken place. 

On an index scale with October of 2005 being equal to 100, that would put September 2010 foreclosure activity at a rating of 451 (or in other words, 451% of the number of foreclosures seen 5 years ago) and with October 2010 falling all the way back down to 323, the lowest level since April 2009.  Expect to see this recent trend turn again around in the coming months. more...

The Dawn of a New Era in Appraising

Guest Post by Tony Pistilli, Certified Residential Appraiser and Vice-Chair, Minnesota Department of Commerce, Real Estate Appraiser Advisory Board, Minneapolis, Minnesota

Approximately 30 years ago the automobile industry began to introduce computers into cars and since that time they have never been the same. What was once considered a rather simple procedure – tuning up your engine or even changing the spark plugs – has become an almost impossible project for anyone, except the highly trained automobile technician.

Today nearly every aspect of your car is aided or controlled in some manner by a computer. Digital radios with CD players, climate control systems, cruise control and pollution control devices are just a few of the components that are aided by computers. Computers now control the engine functions and other systems within the vehicle where mechanical components once ruled.

The introduction of these new technologies into automobiles required mechanics to learn new ways to maintain cars. They needed to become proficient in computer analysis of the new, non-mechanical systems and they learned new terminologies. In addition to the ratchets and wrenches they have always used, they were now using computers to help them do their jobs.

At the time, this must have seemed like a huge change. However, the auto mechanics that embraced the new technology, seeing it as a way to enhance their current core skill sets, were greatly rewarded. The mechanics that didn’t adapt and learn the new technologies… well, they are now picking up the phone and calling to make appointments to have their cars maintained by the highly trained – and highly paid – automotive technicians! And by the way, those mechanics who didn’t adapt and learn the new technologies are also no longer earning a living maintaining cars.

Technology Will Transform the Appraisal Process

This same transformation of an industry that occurred in the automobile industry in the ’80s has been under way for many years in the appraisal industry. With the average age of an appraiser approaching his or her mid-’50s, I know many of us have been around long enough to see what we thought, at the time, were some pretty big changes over the years. It might have seemed almost revolutionary when we went from two-sided tape to glue sticks, or from carbon copy FHA appraisal forms and tractor-fed forms printed by the first-generation computers to appraisal form software – not to mention the industry’s effort to enter into a “paperless” environment with digital cameras, online mapping, electronic sketch programs and digital signatures. With all of these changes, appraisers are certainly more productive today as a group of professionals, but as significant as they may have seemed, these changes are merely incremental improvements on an existing process.

Technology has allowed us as a profession to reduce the turnaround time for delivering reports while reducing the costs associated with preparing them. Email has eliminated the need for faxing and mailing reports. We are no longer bound to photocopying and collating reams of paper to create multiple copies of our reports for our clients. We buy fewer printer cartridges and have been able to eliminate our photo processing and mailing expenses. We have become more efficient and more productive and this has, in a small way, made it more understandable why appraisal fees haven’t increased in the last 20 years. We all know it is a far more complex environment to be appraising today than it was just five years ago. But the technological changes that have occurred over the years haven’t addressed that issue. All these changes haven’t really altered the way we do things and how we value real property. We can do reports quicker but not necessarily better.

At a time when the banks and financial institutions are all clamouring, and rightfully so, for more reliable appraisal reports, we have responded by routinely providing a fourth or fifth comparable sale and occasionally a few comparable listings. We are essentially still doing things the same way we always have and as a result it now takes longer to complete an appraisal report than it ever has, despite all of the efficiencies that have been introduced through technology.

In the flight to create more reliable and accurate appraisal reports, the agencies have introduced a multitude of requirements on how appraisals are done: comparable listings in declining markets, the 1004MC form and most recently the inclusion of interior photographs of the subject. Again, these have not necessarily proven to produce more reliable appraisal reports, just ones with more pages and addendums. What we need today is real change that will in turn produce a dramatic result.

Real change is affected when new systems or technologies are introduced that alter the entire process and ultimately the way things are done. Real change produces a totally different result, not just a polished version of the same old thing. Compared to what is about to happen over the next few years, what we have experienced to date has been a “buff ‘n’ shine” of the appraisal process. The real change that is about to occur will transform the way we do things and bring about a new era in real estate appraising!

Whether you know it or not, a new frontier in appraising is upon us and the change it is bringing is unlike anything we have ever seen before. Right now there are many very intelligent and creative people working to develop the next generation of valuation tools and processes that will catapult appraisers into the role of highly trained and well-paid valuation analysts. I use the term “valuation analyst” to describe this new breed of appraisal professionals, however, my friend Mark Linne has coined the term “econometricians,” and others have used terms such as “trusted advisors” and “valuation technicians.”

Regardless of what they will be called, the members of this new era of valuation professionals will be highly trained and will possess a thorough understanding of statistics and regression analysis. They will have scores of data and analytical information available to them at the front end of the process that up until now was either unavailable or very expensive for the individual appraiser to obtain. They will be highly trained to understand how to collect, manipulate and interpret large data sets. They will use tools and processes via the web to present data in visually understandable graphs and charts. They may complete their reports on the Internet rather than using traditional appraisal software and the time to complete the reports will be reduced to a fraction of what it is today. In addition, their reports may look very different than they are today, much more visual and graphic, but they will also be much more transparent and objective to the end user.

This combination of upfront analytics, greater data collection, and increased transparency and objectivity, delivered in a more graphic and understandable format, is exactly what lenders and financial institutions are searching for in their quest for a more reliable valuation of the collateral in the lending process. Much like the transformation of automobiles in the 1980s, the process of performing an appraisal in the near future will be much different. Those appraisers who choose not to learn and adopt the new technologies will be left behind, like the mechanics who chose not to change with the times, and will be left looking for a new way to make a living. This change should be viewed as an opportunity to appraisers. This change should be embraced by appraisers

Appraisal Regulation Will Intensify  . . . . Click here to continue reading!

 

'Sustainable' Housing Price Recovery Not Shown in April Case/Schiller Home Price Index

According to the latest S&P/Case-Shiller Home Price Index, the annual growth rates of all 20 MSAs and the 10- and 20-City Composites improved in April compared to March because of the home buyer tax credit program that ended April 30, 2010.

New York, June 29, 2010 – Data through April 2010, released today by Standard & Poor’s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that annual growth rates of all 20 MSAs and the 10- and 20-City Composites improved in April compared to March 2010. The 10-City Composite is up 4.6% from where it was in April 2009, and the 20-City Composite is up 3.8% versus the same time last year. In addition, 18 of the 20 MSAs and both Composites saw improvement in prices as measured by April versus March monthly changes.

The chart above depicts the annual returns of the 10-City and 20-City Composite Home Price Indices with increases of 4.6% and 3.8%, respectively, in April 2010 compared to the same month last year. Of note, Dallas, Denver, San Diego and San Francisco have all posted six consecutive months of positive annual rates of return, recording +3.3%, +4.4%, +11.7% and +18.0% in April, respectively.

“Home price levels remain close to the April 2009 lows set by the S&P/Case Shiller 10- and 20-City Composite series. The April 2010 data for all 20 MSAs and the two Composites do show some improvement with higher annual increases than in March’s report. However, many of the gains are modest and somewhat concentrated in California. Moreover, nine of the 20 cities reached new lows at some time since the beginning of this year. The month-over-month figures were driven by the end of the Federal first-time home buyer tax credit program on April 30th. Eighteen cities saw month-to-month gains in April compared to six in the previous month. Miami and New York were the two that fared the worst in April compared to March. New York is the only MSA to have posted a new relative index low with April’s report.” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. 

“Other housing data confirm the large impact, and likely near-future pullback, of the federal program. Recently released data for May 2010 show sharp declines in existing and new home sales and housing starts. Inventory data and foreclosure activity have not shown any signs of improvement. Consistent and sustained boosts to economic growth from housing may have to wait to next year. ”

The chart above shows the index levels for the 10-City and 20-City Composite Indices. As of April 2010, average home prices across the United States are at similar levels to where they were in late summer/early autumn of 2003. From their peak in June/July of 2006 through the trough in April 2009, the 10-City Composite is down 33.5% and the 20-City Composite is down 32.6%. The peak-to-date figures through April 2010 are -30.5% and -30.0%, respectively. 

New York posted a new index low in April, as measured by the current housing cycle, where it peaked in June 2006. The peak-to-trough figure is -21.7%. Eighteen MSAs and both Composites showed monthover- month improvements in April. The 10- and 20-City Composites were up 0.7% and 0.8%, respectively. Eleven of the MSAs reported monthly increases of at least 1.0%. Miami and New York were down 0.8% and 0.3%, respectively. San Diego has now shown 12 consecutive months of positive returns. It is the only market that did not contract in the late winter months.

The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data. More than 23 years of history for these data series is available, and can be accessed in full by going to http://www.homeprice.standardandpoors.com

Appraisal Scoop Authors to speak at ICAP Summer Seminars - July 7 and Aug 11

The Illinois Coalition of Appraisal Professionals (ICAP) is pleased to announce registration for the 2010 summer seminars is now available on-line at http://www.icapweb.com/education.php. As usual, two seminars will be held this summer. The first seminar will be held on July 7th in Springfield at the Crowne Plaza hotel. The second seminar will be held August 11th in Lisle at the Hilton hotel.

“We are extremely excited about the seminars this year. The committee did a fantastic job of selecting topics and speakers. The people in attendance are really going to enjoy the day and will find the seminar to be pertinent to their daily work as real estate appraisers”, said Randy Neff, seminar chair. "As is tradition of the seminars, Mr. Brian Weaver, IDFPR appraisal coordinator, will be the keynote speaker."

The seminars will be headlined by Mr. Patrick Egger of Las Vegas, NV and Mr. Anthony Young, of San Ramon, CA. Mr. Egger will speak on the importance of analyzing key economic indicators in projecting trends in the real estate market. Mr. Young will speak on graphing market trends and then incorporating the graphs into appraisal reports. Ms. Markie Lemons of Chicago will give a presentation on short sales. “ICAP seminars are not typical real estate appraiser CE seminars.

Here's a little more info on the speakers this year and their topics . . .

Patrick Egger is from Las Vegas. He is an appraiser, professional educator, and author of many articles on the Appraisal Scoop blog under the blog category "Outside The Boxes".  He speaks extensively about using key economic indicators to project housing market trends. Patrick is nationally known among appraisers through his participation on blogs, forums, and speaking engagements. Mr. Egger will be speaking about…

Market Analysis: What moves the market? Indicators, Ratios and Relationships.  

"It’s often said that an appraisal is merely a “snapshot in time”. While snapshots provide a glimpse of what’s happening, they’re like tombstones, telling the reader little more than born when, died when an who’s in the grave. Presenting a simple matrix of key indicators will turn a market glimpse into market perspective. The key to any report is how you communicate your observations and conclusions to someone reading that report. A simple matrix of key indicators will inform the reader on what is motivating the market and why. In turn, you can use the same matrix and indicators to logically support your conclusions in key sections of the report, such as market trends, adjustments and the reconciliation."

"Not only is the information readily available, it only needs to be updated monthly or quarterly; and it can be used with any type of report, transforming static snapshots into dynamic perspectives. Clients expect reasonable conclusions. They also require rational explanations and support for those conclusions. The Data tells us what happened, however it doesn’t tell us why it happened. This is where the matrix will help the appraiser and the reader comprehend where the market was, where it is now and what factors may determine where it is headed."

Another one of the ICAP guest speakers is Anthony Young. Anthony is an active appraiser from San Francisco. He is going to illustrate how to graph housing trends using excel and inserting them into appraisal reports.  Here's an example of one of his Appraisal Scoop articles.

Real Estate Trend Analysis and Graphing

Anthony Young is a Certified Residential Appraiser and principle of Young & Associates Real Estate Appraisal Company in San Ramon, California, where he specializes in the valuation of complex and "high-end" residential properties and housing market trend analysis.

He enjoys showing Real Estate professionals graphing and charting techniques for studying the buying behaviors to conclude adjustments in valuations and has developed a How-To-Do-Trend-Analysis DVD that teaches professionals to measure (and visually graph) the behavior of the Real Estate Marketplace over time and to provide supported and credible results within the appraisal report.

Both Patrick and Anthony will be speaking in the afternoon. The afternoon session will include a real estate agent from Chicago, also known as the foreclosure queen, and Brian Weaver from IDPFR.

Marki Lemons will give a presentation on short sales, what they are, how they impact the market, how price is negotiated and other fundamental items about short sales. She specializes in short sales and foreclosures.

Sounds like a great lineup this year!!!

ICAP is using the Appraisal Institutes online education platform to register for the 2010 summer seminars. This is the second year we have used this platform.

You will have to create a username and password before you can register for the course.

As an ICAP member, you will receive a $25.00 discount for the class if you use the following promo codes. These codes are case sensitive so please type them as they appear below.

Springfield Seminar July 7: icap7sf

Lisle Seminar August 11: icap11lisle

Click on the following link to register….DON’T DELAY!!!

http://www.icapweb.com/education.php