PAASD Joins Other SD and ND Appraiser Organizations to Oppose HR 6347 and HR 6348.

New Rules THAT REDUCE CRITERIA TO UPGRADE WILL GO INTO EFFECT 6/25/2018

News Release: Fannie and Freddie Will Update UAD and Their Residential Forms

Letter from SD and ND United States Senators

New Rules Will Reduce Criteria to Upgrade

PRESS RELEASE - AQB Adopts Revised Criteria for Real Property Appraiser Qualifications

On February 1, 2018, the AQB adopted Sections 1, 2, and 4 of the Fourth Exposure Draft with an implementation date of May 1, 2018.

Click on the link below to read the entire Fourth Exposure Draft.
AQB Fourth Exposure Draft RPAQC FINAL.pdf

National Board Adopts Revised Criteria for

Real Property Appraiser Qualifications

FOR IMMEDIATE RELEASE

February 1, 2018 

Contact:

Paula Douglas Seidel

paula@appraisalfoundation.org, 202.624.3048

Washington, DC -- The Appraiser Qualifications Board (AQB) of The Appraisal Foundation (Foundation) adopted revisions to the Real Property Appraiser Qualification Criteria (Criteria). These changes will provide additional methods for entry into the real property appraisal profession in the United States. The Criteria will become effective on May 1, 2018.

Today’s changes were the result of a nearly three-year process of deliberations, which included the issuance of a discussion draft, concept paper, and four exposure drafts. The proposed changes were publicly vetted at a formal hearing, focus group session, and at several public board meetings. The proposed changes generated over 1,300 comment letters. 

Today’s changes include a number of options for entry into the residential appraisal profession. Additionally, the number of experience hours and timeframe for obtaining that experience have been modified.

In the coming months, the AQB will further develop a concept that was outlined in previous exposure drafts: Practical Applications of Real Estate Appraisal (PAREA). PAREA will provide an alternative method for appraisers to gain experience towards obtaining a real property appraiser credential by performing USPAP-compliant appraisals on real properties as well as virtual properties via emerging classroom technology. 

Mark Lewis, Chair of the Appraiser Qualifications Board, said of today’s action, “The importance of qualified appraisers performing solid valuations on residential and non-residential real property cannot be understated.” He continued, saying, “The Real Property Appraiser Qualification Criteria is a living document that needs to fully reflect ongoing changes in the marketplace. These changes were adopted with the ultimate goal of protecting the public trust.” 

The Foundation will work closely with state appraiser regulatory agencies to implement the new Criteria by the effective date of May 1, 2018. Visit The Appraisal Foundation’s website at www.appraisalfoundation.org for more information on these exciting new changes. 

Scholarship Fund Donation Pledge

PAASD BOD Meeting Minutes 10/5/2017

ANNUAL MEETING - WEDNESDAY AND THURSDAY CLASSES

The Annual Meeting and Education Event for 2018 will be January 17 and 18, Wednesday and Thursday. The Event will be held at Arrowwood Cedar Shore Resort in Chamberlain, SD.
    PAASD Board of Directors will meet Tuesday evening, January 16, 2018.
    The SD Chapter of ASFMRA will hold their Chapter meeting on Wednesday evening, January 17, 2018.
    The PAASD Annual Meeting will be held during lunch on Thursday, January 18, 2018.
    ASFMRA and PAASD will each have a class on Wednesday and USPAP Update will be Thursday.

If you have made reservations at Cedar Shore and need to change them, call 605-734-6376 - they will now have Tuesday night under the Professional Appraisers Room Block along with Wednesday night.

PAASD Professional Development Scholarship Application for Jan 2018 Award