Appraisal Scoop

Illinois "Appraisal Bill" HB 1015 must wait a little longer!

After three years of trying, it finally took a new Governor and a persistent ICAP to get Appraisal Bill - HB1015 passed. The Bill passed in the Senate on May 13th unanimously!  It then went to Governor Pat Quinn for his signature.

According to T.J. McCarthy of the Illinois Coalition of Appraisal Professionals (http://www.ICAPweb.com ):

"The long awaited signing of the Appraisal Bill will have to wait a little longer. Today the Governor made an amendatory veto and sent the Bill back to the House of Representatives. This means that we will have to wait until the fall for the House and Senate to accept the Governors suggested amendments and ultimately get this 3 year Bill to finally become a law. ICAP does not anticipate any future problems."

Here is the Governor's letter:

August 10, 2009

To the Honorable Members of the Illinois House of Representatives 96th General Assembly

  Today I return House Bill 1015 with my specific recommendations for change. This bill contains language conditioning the Department of Financial and Professional Regulation’s rulemaking ability on compliance with the provisions of the Illinois Administrative Procedure Act. This language is a remnant of the controversy surrounding certain rulemaking undertaken by my predecessor’s administration. In approving House Bill 398, my administration is committed to upholding the law and respecting the constitutionally protected powers of each branch of government. I approved House Bill 398 as a demonstration of this commitment. My approval of House Bill 398 renders the language related to rulemaking in this bill moot. It is time to move past the battles between my predecessor and members of the General Assembly. I am, therefore, deleting this language from the bill.

Therefore, pursuant to Article IV, Section 9(e) of the Illinois Constitution of 1970, I hereby return House Bill 1015, entitled “AN ACT concerning regulation.”, with the following specific recommendations for change:

on page 12, by deleting lines 20 through 26; and

on page 14, by deleting lines 22 through 26; and

on page 15, by deleting lines 1 and 2.

With these changes, House Bill 1015 will have my approval. I respectfully request your concurrence.

Sincerely,

PAT QUINN Governor

 

You can read the bill as introduced here: http://tinyurl.com/oh9ec4

The following is a brief Synopsis of some of the changes.

Synopsis As Introduced Amends the Real Estate Appraiser Licensing Act of 2002.

• Makes changes throughout the Act that mark the transfer of authority to administer and enforce the Act to the Department of Financial and Professional Regulation (rather than the Office of Banks and Real Estate).
• Makes appraiser licensing/certification MANDATORY in Illinois, rather than voluntary.  Previously, licensing/certification was only mandatory in connection with federally related transactions.  It will now be mandatory for any appraisal service.
• Replaces "associate real estate appraiser" with "associate real estate trainee appraiser" throughout the Act.
• Changes the Real Estate Appraisal Board to the Real Estate Appraisal Administration and Disciplinary Board.
• Provides that a person who violates certain licensure provisions for a second or any subsequent time is guilty of a Class 4 felony.
• Sets forth additional education requirements for licensure under the Act.
• Removes a provision allowing a person who holds a valid license as a licensed real estate appraiser, issued pursuant to a predecessor Act, to convert that license to an associate real estate appraiser license.
• Removes a provision concerning licensed real estate appraiser's licenses issued pursuant to a predecessor Act and provides that an associate real estate trainee appraiser license may not be renewed more than 2 times.
• Adds a provision concerning temporary license suspension.
• Provides that an education provider may use an instructor who is a faculty member in good standing with an accredited college or university or community college or who is an approved appraisal instructor from an appraisal organization that is a member of the Appraisal Foundation. Imposes conditions on any rulemaking authority.
• Makes other changes.
• Repeals a Section concerning identifying a client. Effective Immediately

Source: http://www.ICAPweb.com

Approved Bill (Mark-up) Download IL Real Estate Appraiser Licensing Act HB1015

 

Local: Brady Homes Chosen For Extreme Makeover: Home Edition

Bloomington, IL - Brady Homes will build one deserving Central Illinois family a new home as part of the Emmy award-winning reality TV show, ABC’s Extreme Makeover: Home Edition.

Brady Homes was chosen as the contractor for this “Extreme” build due to its reputation for giving back to the community. They have built four homes for St. Jude and also homes for residents of Marcfirst, an organization for the developmentally disabled.

Brady Homes will be responsible for overseeing the project’s construction and event management while upholding the highest standards of quality craftsmanship, design, and energy efficiency. Not only will this home be built in seven days but all products and labor will be donated by partnering trades and suppliers.

“The Brady family has always believed in giving back to our communities and is excited about helping a family who is in need of a new home,” said Ed Brady, co-owner with Bob and Bill Brady of Brady Homes. “When Extreme Makeover: Home Edition called us, there was no doubt we were willing to take on the challenge of organizing the building of a new home in one week for a deserving family.”

Five families within a 50 mile radius of the Brady Homes’ office in Bloomington, IL, are being considered for the build, all of whom have been deemed “Heroes at Home.” On Tuesday, August 18th, one lucky family will be surprised by Ty Pennington, team leader of the show, and the design team when they hear a knock at their front door. 

“Brady Homes’ history for passion and commitment to their communities was clear to us,” said Conrad Ricketts, executive producer of ABC’s Extreme Makeover: Home Edition. We are seeking ‘Heroes in the Community,’ and both the family that will be chosen and Brady Homes are wonderful representatives of our theme this season.”

Please visit www.bradyhomes.com for updated information regarding media updates, volunteers, and contributions.

For interviews with Ed or Bob Brady about this project please contact Amber Geiser at 309-261-5839

I'm just an Appraiser. How can I do anything to impact the HVCC?

Re-blogged with permission from Truett D. Neathery - Real Estate Appraiser - [email protected] originally posted on the Inland CA Appraisers Forum .

Everyone on this forum [blog] lives where there is a newspaper. Every newspaper has a Real Estate section, as that is where the major part of their revenues come from, now that the Auto section has shrunken to one page. Real Estate sections are hungry for content, as is the regular Letters to the Editor page.   [Click Here for tips on Writing For Real Estate Editors.]

If everyone here would take a few minutes this weekend to write, by letter or by e-mail, to your local newspaper explaining what the Home Valuation Code of Conduct (HVCC) has done to borrowers, real estate agents, loan agents, insurance agents, home inspection companies, etc., as has been stated here in this forum [blog], we might get some action.

Yesterday I was confronted by an agent at a large [55 agent] real estate brokerage firm, suggesting it is the appraisal community that is causing increased fees and longer processing times to get their deals closed.

Maybe a copy of your letter could be sent to the larger real estate agencies, as well, with the suggestion that the agents send letters in too. The agencies could even tout themselves as champions of the consumer again.

Perhaps some of them could explain to the populace that they are attempting to work down the inventory of bank-owned and short-sale signs in their neighborhoods, but are being thwarted by HVCC.

You can pick up the name and address of your local newspaper at your local coffee house, there's always one there if you don't care to buy one.

All effective political action starts at the local level, not in the state capitol or Washington DC.

AUTHOR:Truett D. Neathery - Real Estate Appraiser - [email protected] originally posted on the Inland CA Appraisers Forum .

HAVE YOU WRITTEN A LETTER?  LET ME KNOW! - Send a copy of you letter to me at [email protected] and I'll create a link to it here on Appraisal Scoop.

 

 

September Illinois home sales moderate

Mirroring a national pattern, home sales activity in September continued to show signs of adjustment as the market transitions from several boom years. Year-to-date home sales (including single-family and condominiums) totaled 131,826 in 2006, down 7.4 percent from 142,319 homes sold during January through September of 2005.

September home sales were down 19.5 percent to 13,447 homes sold, compared to 16,700 sales in September 2005.

“In a normal Illinois housing market we tend to see a slowdown as we enter fall and back-to-school time. This report compares sales to last year’s all-time high for home sales in the month of September. What we’re seeing is a market that is going through an adjustment that is long-anticipated after several record-breaking years. We still have a market with excellent opportunities for buyers and sellers who are informed about market conditions,” said IAR President Robert Zoretich. Read more.