Thursday, July 17, 2014

Understanding the New Role of the Appraisal in Commercial Banking and Going Concern Allocations - Buffalo, NY Program

Our neighboring chapter, Western NY/Ontario Intl, is hosting a one-day seminar and social in Buffalo. All are welcome. Details below. 


Wednesday, August 6th, 2014 
Registration (Pastries/Coffee): 8:00 AM to 8:30 AM 
Seminar Begins: 8:30 AM 


Larkin at Exchange Building 
726 Exchange Street – Suite 804 
Barton Room 
Buffalo, New York 14210 

Cost: (Includes Lunch) 
$175 (AI/State CE Credit w/Certificate) 
$40 USE PROMO CODE: No CE Credit 
(Bankers, Lawyers, Real Estate Agents, etc. OR Appraisers not requiring AI or State CE Credit – NO CERTIFICATE) 


Part I – Appraisal in an Evolving Banking Environment: 3 Hours 
Presenter: Adam A. Alessi, MAI, MRICS 
Chief Appraiser, First Niagara Bank, N.A. 
  • A look at the post-2008 timeline for appraisal-related regulatory mandates and the response of the lending and appraisal communities; 
  • Case studies of valuation and compliance issues impacted or ignored by the regulatory environment 
  • First-hand accounts and perspectives of the realities of serving a borrowing base in this climate. 

Part II – Complex Properties: A Risk-Based Approach 
to Allocations and Investment: 4 Hours 
Presenter: Franz H. Ross, CBA, CVA, MRICS, 
Complex Asset Specialist, First Niagara Bank, N.A.

What are the unique characteristics of each complex property type? Discussion will include hotels, C-stores, healthcare properties, power plants, restaurant/banquet facilities, tank farms, data centers, golf courses, and other recreational properties. What special industry knowledge 
is needed to appraise each property type, and what unique metrics are applicable? 
  • The premise for giving the greatest weight to a risk based/cost based asset allocation methodology;
  • Attendees will receive the new ETEEM model, and be given instruction in its use; 
  • Understanding the importance of asset allocation metrics such as cost approach data, market rents, lease coverage ratios, management fees and others; 
  • Best practices in an income analysis that is universal to all income properties. 
  • How to prove cap rates of “going-concerns” and of intangible assets using available BV data. 
Continuing Education
Approved for 7 Hours of Continuing Education by:
  • The Appraisal Institute
Pending Approval for 7 Hours of Continuing Education by: 
  • NYS Continuing Education 
  • Pennsylvania CE 

Post Class Gathering/Social, hosted by the WNY/Ontario Chapter of the Appraisal Institute: 

Larkin Square – Filling Station 

Hors d’oeuvres and Cash Bar 

Live at Larkin featuring 

The Steam Donkeys and Shaky Stage

For more information please contact Yolanda Perez, Executive Secretary at 716-544-0497.

Friday, July 11, 2014

FORE! Pittsburgh Metro Chapter's Annual Golf Outing is July 28

Don’t miss the Pittsburgh Metro Chapter Appraisal Institute Annual Golf Outing!

Monday, July 28, 2014

12:30 p.m. Shotgun Start

South Hills Country Club
4305 Brownsville Road
Pittsburgh, PA 15236

Cost: $135.00/person (includes green fees, riding cart, driving range, locker room facilities, dinner buffet and prizes).  Lunch is not included.

Send reservations and payment to:
Pittsburgh Metropolitan Chapter Appraisal Institute
1427 W. Liberty Avenue
Pittsburgh, PA 15226

DINNER ONLY:  $40.00

Questions: Contact Tom Frederick at 412-244-7700 or  

Tuesday, July 8, 2014

Pittsburgh Real Estate Appraisers meet with Congressman Tim Murphy (PA-18)

On July 3, 2014, a group of appraisers from the chapter meet with Congressman Tim Murphy (PA-18) at Pub & Pizza. The discussion centered on legislation that may have a negative impact on the appraisal profession, including recent actions taken by the Small Business Administration (SBA) regarding Standard Operating Procedure 50-10F relating to appraisals of special purpose properties ("Collateral," Part II (C) (5)).

Members of the Pittsburgh Metropolitan Chapter of the Appraisal Institute also talked to Congressman Murphy about two major bills that were introduced to address housing finance reform:

  • Senate Bill 1217, the Housing Finance Reform and Taxpayer Protection Act, known as "Johnson-Crapo," and 
  • House Bill 2767, the Protecting American Taxpayers and Homeowners Act or "PATH Act." 
Johnson-Crapo authorizes Federal Mortgage Insurance Corporate (FMIC), the proposed entity which would replace the GSEs, to establish, operate and maintain a database for the collection, public use and dissemination of mortgage loan information. This provision would allow the FMIC to build upon the Uniform Appraisal dataset initiative established by Fannie Mae and Freddie Mac, and allow information contained in all appraisals for loans sold to the FMIC to be made available to consumers, financial institutions, appraisers, appraisal management companies and automated valuation companies, among others.

The PATH Act contains a similar and less specific database. 

The Appraisal Institute is concerned about how this information might be used by those interacting with appraisals, or those with a vested interest in the transaction. 

Congressman Murphy addressed the group's concerns and asked that they keep him apprised of other legislation that would impact the appraisal profession. He also encouraged the group to send emails to their legislators that specifically state how they would like to see the legislation written, noting that that's often how legislation is drafted. 

We invite you to contact your Senators and Representatives about protecting the integrity of the appraisal by not allowing appraisal information in the repository to be made publicly available. Find your legislator: 



Learn more about the issues on the Appraisal Institute's website

Tuesday, July 1, 2014

Meet Congressman Tim Murphy - July 3 at Pub and Pizza

Member will have the opportunity to meet with Congressman Tim Murphy (PA-18) on July 3 at Pub and Pizza. Pub and Pizza is located at 329 Castle Shannon Blvd, Pittsburgh, PA. 

Congressman Murphy represents the 18th District of Pennsylvania. 

For more information, please call Kari at 412-563-1900.