SAVE THE DATE: June 4-18, 2012 ASA and Purchase College, State University of NY will offer the 2012 Summer Appraisal Camp designed for those interested in developing the skills necessary to build or further their career in the appraisal of personal property.

The Summer Appraisal Camp, held at Purchase College on a campus above New York City, is an an accelerated, intense two-week program of appraiser education designed to give you all the essential valuation skills needed to be an appraiser of personal property.

The Camp offers the four required courses taught through lectures, optional field trips, hands on exercises, and the use of the College’s Neuberger Museum of Art. Students will learn theory and its application and skills necessary to value and evaluate a wide range of items with assurance and competence.

This rigorous program contains all courses that ASA designated appraisers must complete, making them the most qualified in the profession for appraisal assignments. Assignments include insurance coverage, division of property, and sale and purchase of property.

Schedule for The Summer Appraisal Camp

• June 4-7    PP/GJ201 – Personal Property Valuation Methodology – Introduction
• June 8-10  PP/GJ202 – Personal Property Valuation Methodology – Research & Analysis
• June 11-14 PP/GJ203 – Personal Property Valuation – Report Writing
• June 15-18 PP/GJ204 – Personal Property Valuation – The Legal & Commercial Environment

All courses are taught by experienced instructors who are Accredited Senior Appraisers. The courses in the program fill the education qualifications towards membership and accreditation in ASA. Take courses individually or earn your Appraisal Studies Certificate from SUNY Purchase by completing the university requirements. Students who successfully complete four required courses are awarded an Appraisal Studies Certificate by Purchase College and, complete the 120 education hour requirement of The Appraisal Foundation. Accredited appraisers taking the courses earn continuing education hours toward reaccreditation.

There is a 10% tuition discount for individuals registering for all four courses.

For more information or to register, visit the university’s website or contact Kelly Jackson in Continuing Education at SUNY Purchase.

In a press release put out by the Department of Labor (DOL) on September 19, the DOL announced the Employee Benefits Security Administration’s (EBSA) plan to re-propose their rule on the definition of a fiduciary. The original EBSA proposal included a regulation which would have made appraisers into fiduciaries when performing valuations of employee stock ownership plans (ESOPs). The decision to re-propose the rule comes as a result of requests from the public and members of Congress for the agency to provide an opportunity for more input. As it pertains to the “appraiser-as-fiduciary” piece, the American Society of Appraiser’s (ASA) Government Relations Committee played a major role in urging for abandonment of this portion of the rule.

The DOL is anticipating revising the rule, including “responding to concerns about the application of the regulation to routine appraisals”. The DOL is working to modify the existing definition, first promulgated in 1975 as part of the implementation of the Employee Retirement Investment Savings Act (ERISA), which uses a multi-part test to determine if an individual is providing “investment advice” and therefore required to act as a fiduciary in the transaction.

“We appreciate that DOL and EBSA have listened to ASA’s concerns regarding the ‘appraiser-as-fiduciary’ rule, and have opted to repropose the rule with significant revisions. We look forward to continuing to work with the agency to find a solution to their concerns that meets their needs while being responsive to the concerns of the appraisal profession.”

To read the full text of DOL’s press release, click here. To read ASA and NAIFA’s original letter sent to EBSA regarding the proposed rule, click here. To read ASA’s testimony, given by Donna Walker, FASA, regarding the proposed rule, click here. To read a subsequent letter filed by ASA regarding the proposed rule, click here.

The American Society of Appraisers is pleased to announce the launch of its latest publication  Valuing Machinery and Equipment: The Fundamentals of Appraising Machinery and  Technical Assets. Utilizing the latest technology, this book will be available completely    online. This comprehensive eBook, in its 3rd version, contains the latest information on inventory valuation, aviation, marine appraisal techniques, and report writing and ethics. Extensive examples can be found throughout the eBook; enhanced appendices add more information for the reader. New chapters include:

• Process Plant Appraising
• Appraising Assets in Groups
• Valuation for Financial Reporting Cost Segregation Studies
• International Valuations

This eBook builds off of, and adds value to, the 2nd edition printed in 2005. The eBook has been written to reflect the new MTS definitions of value adopted in July 2010. Get your copy today.

Available in both PDF and EPUB formats, this new version can be carried and read on your iPad, iPhone, B&N Nook, Sony e-Reader, or other mobile device, and just as easily installed on your laptop or computer.

As an ASA member, you know a thing or two about making smart choices. An auto policy with GEICO is one of the smartest choices you could make. New GEICO policyholders report average annual savings of $500. And as a member of ASA, you could qualify for an exclusive member savings opportunity. GEICO is also able to help you find additional coverage such as homeowners, renters, personal umbrella, and even motorcycle insurance. Contact GEICO today by visiting geico.com or calling 1-800-368-2734. Don’t forget to mention your ASA affiliation to see how much your membership could save you.

On Monday, August 15, during the American Society of Appraisers’ (ASA) 2011 International Appraisers Conference, ASA signed a Memorandum of Understanding (MOU) with the China Appraisal Society (CAS). This MOU fosters a higher degree of mutual cooperation and understanding with regard to the worldwide professional practice of valuation.

By signing the MOU, ASA and CAS jointly agree to commit to furthering their working relationship in the following areas:

1. Agreement to foster best practices in valuation standards, assurance of Ethics, Code of Conduct, and professional integrity.
2. Networking between organizations to promote easier access to assignments and teaming relationships.
3. Links between the two organizations on their respective websites.
4. Invitation for senior professionals of the other organization will be extended for effective communications on hotspot issues.
5. Offering joint educational curriculums.
6. ASA and CAS will provide related suggestions on valuation research projects.
7. When publishing original publications on valuation in other party’s country, resident party will have first option to undertake translation.
8. Working together to enable better relationships between governmental bodies of the U.S. and China that have coordination responsibilities of appraisal services.

Jack Washbourn, ASA International President states, “By signing this MOU, the American Society of Appraisers is solidifying its international presence and strengthening its relationship with the Chinese Appraisal Society. As we enhance our working relationship there will be improvements to the international appraisal profession as a whole.”

About ASA
The American Society of Appraisers is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. ASA is the oldest and only major organization representing ALL disciplines of appraisal specialists, originating in 1936 and incorporating in 1952. ASA’s headquarters is in the metropolitan Washington, D.C. area. To find an accredited appraiser near you, visit http://www.appraisers.org or call (800) 272-8258.

Social Media is a great way to stay connected with ASA and new friends you meet at ASA’s 2011 International Appraisers Conference. If for some unfortunate reason, you aren’t able to make it to this year’s conference (Gasp! We will miss you.), social media is a perfect way for you to stay updated on the conference and join in on the conversation. For those of you using social media, we encourage you to post about all the fun things you’re doing and learning at the conference and hope you will all share and contribute to the conversation!

We will be live Tweeting on Twitter (@ASAappraisers) and posting updates on our Facebook page throughout the conference. When using Twitter to share information about the conference please use the hashtag, #ASA2011Conf in your tweets. By using this hashtag all users will easily be able to search and find all of the latest conference tweets!

ASA looks forward to staying connected with you through these social networks!

It’s the most wonderful time of the year here at ASA, why you ask? Because ASA’s 2011 International Appraisers Conference is right around the corner! What could be better than networking with colleagues, taking advantage of ASA education courses, enjoying fantastic events and relishing in the prime location of Washington DC? Drum roll please…it’s also the most wonderful time of the year in Washington DC, it’s DC’s Summer Restaurant Week, August 16-22.

This year’s Summer DC Restaurant Week is set to be the biggest yet, with just under 200 eateries to choose from. The exquisite and delicious participating restaurants all feature a prix-fixe, three-course meal (tax and tip excluded) for $20.10 at lunchtime, and $35.10 for dinner. This is a foodie’s dream, especially one on a budget. Restaurant Week gives you the opportunity to try fine dining establishments at an unbeatable price.

We hope you will all take advantage of this opportunity to try some of DC’s best eateries. Keep in mind that you will need reservations in advance. With so many places to choose from, and only so many reservations to go around check out the tips and advice from D.C. Foodies.

For a full list of restaurants, locations and to make reservations please visit the official DC Restaurant Week home page.

Watch this video and learn just a few reasons why you won’t want to miss ASA’s 75th Anniversary International Appraisers Conference in Washington DC, August 14-17, 2011. We look forward to seeing you there!

To register or learn more visit ASA’s conference web page by clicking here.