Appraisal Institute - Metro NJ Chapter

As a 501C6 organization, the Appraisal Institute is an association dedicated to appraisers, the profession and the public. The Board has a fiduciary responsibility to act at all times in the best interests of the members and mission, and the staff and I and Chapter Executive Directors are dedicated to serving members and advancing our mission.   With that in mind, I want to remind you to please join us and make your voice heard on our annual membership meeting webinar this Friday, September 13, 2024, at 2 pm, CDT! This meeting will include the rescheduled report on the 3rd quarter regular Board of Directors meeting. Please share!

The Metro NJ Chapter's 2-Hour Fall Meeting is on Thursday, September 19, 2024 at 9:00-11:30 AM! Approved for 2 CE hours by NJ, State Appraisal Board Continental Breakfast included Where: Chubb Risk Engineering Center, 35 Columbia Rd., Branchburg, NJ Registration fee: $40/AI affiliation, $45/Non-AI Register here: https://lnkd.in/e2X_6Wzg Speakers: Andrew Lines, MAI, CRE, Cohn Reznick and Lauren Migliore, Cohn Reznick Topic 1: How connected are interest rates and multifamily cap rates? A look at multifamily cap rate trends during economic turbulence, 9:30 – 10:30 am *Historical fed rate hikes and their impact on multifamily cap rates *Cap rate trends over the past three years in each state/region *Impact of interest rates on investment and transaction activity *Disconnect between pace of changing interest rates and cap rates *Connection to real estate liquidity and buyer pools *Other macroeconomic factors including supply and demand, rent growth and vacancy, cost of operating expenses, demographic trends, and investor expectations *Trend predictions Topic 2: Solar development’s impact on adjacent residential and agricultural land values, 10:30 – 11:30 am *Solar Development has skyrocketed over the past 10 years, and with the Inflation Reduction Act, more solar fields are being proposed and constructed than ever before *This development tends to be predominate in rural and exurban areas, where the cost of land is low and agricultural land owners are excited about high land lease rates *For the last 8 years, CohnReznick has studied solar development’s impact on adjacent residential and agricultural land values, using techniques and methodology direct from Randy Bell’s Real Estate Damages textbook *CohnRznick has researched and analyzed several academic studies; called and interviewed nearly 100 assessors with solar in their counties; has developed specific studies in 17 states using paired sales analysis, before and after appreciation rate analysis and interviewed brokers who have sold real estate adjacent to operating solar farms Approved by the NJ State Board of Real Estate Appraisers for 2 CE hours Approved by the Appraisal Institute for 2 hours (10 points). 100% attendance required to get 2 CE hours. #aimetronj #continuingeducation #appraisers #realestate

JOIN US FOR OUR 2-HOUR FALL MEETING Approved for 2 CE hours by NJ, State Appraisal Board Thursday, September 19, 2024 9:00 - 11:30 A.M. (BOD meeting will follow breakfast meeting) Continental Breakfast included Where: Chubb Risk Engineering Center, 35 Columbia Rd., Branchburg, NJ Registration fee: $40/AI affiliation, $45/Non-AI Register here: https://lnkd.in/e2X_6Wzg Speakers: Andrew Lines, MAI, CRE, Cohn Reznick and Lauren Migliore, Cohn Reznick    Topic 1: How connected are interest rates and multifamily cap rates? A look at multifamily cap rate trends during economic turbulence, 9:30 – 10:30 am *Historical fed rate hikes and their impact on multifamily cap rates *Cap rate trends over the past three years in each state/region *Impact of interest rates on investment and transaction activity *Disconnect between pace of changing interest rates and cap rates *Connection to real estate liquidity and buyer pools *Other macroeconomic factors including supply and demand, rent growth and vacancy, cost of operating expenses, demographic trends, and investor expectations *Trend predictions Topic 2: Solar development’s impact on adjacent residential and agricultural land values, 10:30 – 11:30 am *Solar Development has skyrocketed over the past 10 years, and with the Inflation Reduction Act, more solar fields are being proposed and constructed than ever before *This development tends to be predominate in rural and exurban areas, where the cost of land is low and agricultural land owners are excited about high land lease rates *For the last 8 years, CohnReznick has studied solar development’s impact on adjacent residential and agricultural land values, using techniques and methodology direct from Randy Bell’s Real Estate Damages textbook *CohnRznick has researched and analyzed several academic studies; called and interviewed nearly 100 assessors with solar in their counties; has developed specific studies in 17 states using paired sales analysis, before and after appreciation rate analysis and interviewed brokers who have sold real estate adjacent to operating solar farms Approved by the NJ State Board of Real Estate Appraisers for 2 CE hours Approved by the Appraisal Institute for 2 hours (10 points). 100% attendance required to get 2 CE hours. #aimetronj #continuingeducation #appraisers #realestate

A lot has happened this summer, and one of the most important events this past month was the “One Appraisal Institute” Advocacy Briefing. The Advocacy team provided updates on key issues and how they are addressing them to represent the wider community’s interests effectively. Here are some of the highlights. If you didn’t have the chance to join the live online event, you can watch a recording here: https://lnkd.in/gwU7U8mR

The Fall Meeting will be held on September 19th at the Chubb Risk Engineering Center in Branchburg from 9:00 - 11:30 AM. Breakfast will be included! Topic 1: How connected are interest rates and multifamily cap rates? A look at multifamily cap rate trends during economic turbulence, 9:30 – 10:30 am Topic 2: Solar development’s impact on adjacent residential and agricultural land values, 10:30 – 11:30 am The program will be eligible for 2 CE hours. Hope to see you there! Link to register: https://lnkd.in/e2X_6Wzg #aimetronj #realestate #appraisers #appraisalinstitute

Need QE hours for your MAI designation? Metro NJ Chapter is offering Advanced Income Capitalization at the Chubb Risk Engineering Center on August 5th to August 9th. To learn more or to register, click here: https://lnkd.in/eSd4gdfQ #aimetronj #appraisalinstitute #designation #appraisers #realestate

The chapter is offering the course below to meet the Appraisal Institute Ethics requirements. Business Practices and Ethics will not be offered in 2025 so if you need for your AI 4 or 5-year cycle, you should register for our offering on June 6th. Also, this course is approved for 6 CE hours of administrative CE for Tax Assessors. Business Practices and Ethics at Chubb Risk Engineering 35 Columbia Rd., Branchburg, NJ Thursday, June 6, 2024, 8:30 am - 3:30 pm - registration deadline is June 2nd for regular registration, $10 late fee after June 2nd. Approved for 6 CE hours in most states. Approved by the NJ Tax Assessors Office for 6 Administrative hours. Instructor: Joseph Palumbo, SRA, ASA, CTA Registration fee $185/AI, $195/Non-AI Register here: https://lnkd.in/eZPyKhhe This is a required course for new affiliates and candidates and members once in their 5-year cycle. If you are not sure if you need this course, check your transcript in your portal and/or contact Debra Miller. #aimetronj #appraisers #realestate #education

There is still time to register for Monday, May 20, 2024, webinar "Understanding the Construction Draw Sheet". It is a 4-hour presentation covering a single family residential construction in Atlanta's CBD, the entire process, literally from the ground up. It is being hosted by the Appraisal Institute - Metro NJ Chapter and Delaware Chapters of the Appraisal Institute. Don't miss out on this highly instructive webinar. Take a deep dive into construction and immerse yourself in the timeline of new construction centered around a construction draw sheet. Covered topics include how builders, lenders, future owners, appraisers, and inspectors interact. What are there concerns? How do they work together. It is a CASE STUDY from original home, teardown, construction process, completion, to a new home over an 11-month period. It is intended for real property appraisers, real estate agents, valuation experts, and anyone else who wants to understand more about how houses are constructed. Don't miss your opportunity to have an engaging, interactive and educational presentation, filled with illustrations and photographs. May 20, 2024, Delaware Chapter of Appraisal Institute - Zoom - https://lnkd.in/eXqKhQwv May 20, 2024, Metro New Jersey Chapter of the Appraisal Institute - ZOOM - https://lnkd.in/ecPMy6uj Appraisal Institute Philadelphia Metro Chapter Appraisal Institute - Keystone Chapter Northeast NJ Chapter Appraisal Institute South New Jersey Appraisal Institute Metro New York Chapter - Appraisal Institute

Last week, Joseph Wisniewski, MAI and Katherine Tantinan, MAI represented the Appraisal Institute - Metro NJ Chapter at LDAC in Washington D.C. We are forever grateful for the amazing experience and the chance to meet other leaders from other chapters and nationally. Looking forward to seeing everyone again next year! #aimetronj #ldac2024 #realestate #appraisers #appraisalinstitute

As an appraiser, what message do you have for your elected officials? Brian A. Rodgers, the Appraisal Institute’s Manager of Federal Affairs, emphasized the important role that appraiser stories and perspectives have in moving the needle on advocacy efforts for the profession during last month’s briefing. Watch the briefing to learn how to get involved, or send us a direct message. https://lnkd.in/eTUKQFKr