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UPDATES FOR YOUR APPRAISAL PRACTICE Thursday, December 28, 2023 in News, Ask an Instructor, Education, For Appraisers

There are a few changes to the new 2024 edition of the Uniform Standards of Professional Appraisal Practice (USPAP), effective January 1, 2024. It is your responsibility as an ISA Appraiser to educate yourself in the changes to USPAP.

The Post-Pandemic New "Work" Order & Design Trends Tuesday, August 29, 2023 in Ask an Instructor, Education, Member Insights

The media speculated that after the long COVID lock-down, consumers’ day-to-day life would return to the fast paced, activity-filled, dining-out-often existence, including returning to the office for work, that was typical of pre-pandemic life. Quite the opposite, the reality has been that people are continuing to use their homes as their primary workplace, the preferred place to entertain, and a sanctuary to relax and exercise a more financially conservative lifestyle.

USPAP - Frequently Asked Questions! Friday, April 14, 2023 in Ask an Instructor, Education, For Appraisers

The Uniform Standards of Appraisal Practice (USPAP) materials include a lot of Frequently Asked Questions! There are currently 367 FAQs in the 2020-2021 version of USPAP which has been extended through December 31, 2023. These are included as guidance from The Appraisal Standards Board (ASB) of The Appraisal Foundation to respond to questions to illustrate the applicability of USPAP in specific situations.

Understanding Guardianships Monday, August 29, 2022 in Education, For Appraisers

In the Netflix movie “I Care A Lot,” Rosamund Pike’s character, Marla Grayson, is an icy, ambitious, court-appointed legal guardian who fleeces her wards out of their homes, cash, and personal property with amazing efficiency. The story is fiction, but it shines a (dramatic) light on the predicament of individuals who become wards due to mental incapacity, inability to care for themselves, addiction, or disability.

2022 Interior Design Trends Most Likely to Affect Value of Personal Property Wednesday, June 22, 2022 in Education

I have been reviewing the general media, interior design professional publications, and other industry sources to spot the interior design trends for 2022 that are most likely to affect the value of personal property values. Changes in design preferences can help forecast fundamental shifts in market pricing that we as appraisers must recognize.

Car Appraisals for the Generalist Wednesday, November 17, 2021 in Education

As a generalist appraiser preparing appraisals for estate functions or dissolution of marriage, you will eventually encounter a client asking you to include an automobile in your report. Should you oblige? Are you qualified to appraise a car, pick-up truck, or even a motorcycle?

Embracing the Virtual Learning Environment Monday, August 23, 2021 in Education

Last year or so, when life was normal or considered normal, I would never think of meeting a client, fellow appraisers, attending a conference, or taking a class online only. But life as we knew it has forever changed. Amazingly so, to my surprise, I have begun to embrace this way of doing everyday business.

Tips for Determining Scrap and/or Salvage Value Monday, July 26, 2021 in News, Education

An easy way to distinguish between scrap and salvage is that scrap is generally used for metals. Salvage is generally used for everything else, including fine art. I will first discuss salvage value, including where an appraiser might look for comparable sales, and then move on to how an appraiser might calculate scrap value.

How to Become a Connoisseur Tuesday, May 18, 2021 in Education

To become a connoisseur, curiosity is required. One must dedicate time and energy to asking questions, train her/his eyes to observe detail, and learn to compare and contrast objects so as to build up the experience necessary to make decisions about quality.

The Importance of Due Diligence and Due Care in Appraising Wednesday, April 21, 2021 in Education

My favorite part of USPAP comes directly from the Competency Rule: Perfection is impossible to attain, and competence does not require perfection. However, an appraiser must not render appraisal services in a careless or negligent manner. This Rule requires an appraiser to use due diligence and due care. (USPAP 2020-2021, lines 301-303)

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