Latest Publications

ASA eLearning: Education You Want—When and Where You Want It!

bigstock-Happy-businesswoman-sitting-an-27197741_v4ASA’s eLearning course offerings have been designed to meet the needs of appraisers at every stage of their career. Whether working towards your ASA or AM designation or a seasoned professional looking to expand your skill set. Here’s a brief look at current and upcoming ASA eLearning offerings:

7 Hour Uniform Standards of Professional Appraisal Practice (USPAP) for Personal Property Webinar
When: Wednesday, August 27, 2014, 11:00 a.m. – 6:30 p.m. ET; Continuing Education Credits: 7 hours
This live webinar is designed specifically for individuals who have completed the full 15-hour USPAP course and require updated information. The presentation will familiarize users of USPAP Standards 7 and 8 (GJ, MTS and PP) with recent, significant revisions to USPAP that impact every practicing appraiser in the personal property arena. In addition, the webinar will confront some of the regularly misunderstood concepts in USPAP and reviews their application through the use of other communications published by the Appraisal Standards Board. Participation in this 7 hour webinar will meet current USPAP requirements established by the Appraisal Foundation for GJ, MTS and PP appraisers who are ASA members. This course allows the personal property appraiser to fulfill their USPAP requirement for two (2) years.

Live Synchronous Online POV Courses
When: Early Fall 2014—dates and times pending; Continuing Education Credits: 27 hours
ASA will be offering two new live synchronous online POV courses, one for business valuers and the other for machinery & technical specialty appraisers. The courses will be available in a new “live synchronous” online format where students can interact with instructors/classmates remotely via their computer in the convenience of their home or office. This option significantly reduces time spent out-of-office and will save hundreds of dollars in travel expenses related to continuing professional education. A student will simply log in from his or her computer, greet the instructor/classmates and participate in real time discussions and course activities. Class size will be restricted to 25 students. Registrations will be accepted on a first-come basis. Detailed course information, including course descriptions, class dates and times and registration links will be announced shortly.

Cost of Capital OnDemand
When: Available OnDemand; Continuing Education Credits: 8.5 hrs.
Many practitioners are unaware of criticisms made of the most widely used methods for estimating Cost of Capital. This course will address quite a few of these criticisms in more depth. This course also examines widely used sources of data (e.g., SBBI Yearbook, Duff & Phelps’ Risk Premium Report, etc.) to understand how data are developed, how to correctly use the data and criticisms of the data. Other cost of capital issues are also discussed in this course, such as: estimating returns for troubled companies and estimating returns for pass-through entities (e.g.,”S” corporations).

National 7 Hour USPAP for Business Valuation OnDemand
When: Available OnDemand; Continuing Education Credits: 7 hrs.
This is ASA’s new online 7-hour USPAP Update course designed for business valuation professionals who have completed the full 15-hour USPAP course and only require updated information. This course focuses primarily on recent changes and major sections of the 2014-2015 Edition of USPAP, that relate specifically to business valuation. This course allows the business valuation professionals to fulfill their USPAP requirement for two (2) years.

 To register or for more information about ASA’s eLearning course offerings, visit www.appraisers.org or call (800) 272-8258.

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ASA to Educate Fixed Asset Appraisers on Business Valuation Concepts

Raymond D. Rath, ASA, CFA

Raymond D. Rath, ASA, CFA

In a post-Sarbanes-Oxley environment enhanced transparency and officer accountability is paramount, particularly when valuing and reporting of fixed assets such as land, building, vehicles, furniture and plant and machinery equipment. For many companies, fixed assets represent a significant component on the balance sheet. Inaccurate fixed asset values can increase financial and operational risk and impact potential mergers and acquisitions, purchases or sales, asset-back financing or insurance replacement costs.

The American Society of Appraisers is pleased to announce the offering of “ME211 Business Valuation Concepts for Fixed Asset Appraisers” course to be held September 14, 2014 in Savannah, GA and October 25, 2014 in Toronto, ON CANADA. Offerings will take place prior to the 2014 International Appraisers Conference and the 2014 ASA-CICBV Business Valuation Conference. The courses have been scheduled prior to these popular conferences so that members and attendees could maximize their conference experience and save on travel expenses.The course will cover a wide range of topics of interest to fixed asset appraisers. Discussion will include general business valuation concepts such as discount rate development and general valuation theory for an operating business enterprise. Important topics such as relative rates of return for different asset categories, the impact of depreciation expense and the related tax savings on the value of fixed assets, economic obsolescence and other topics will be covered.

The course is designed for students with a working knowledge of general valuation concepts for fixed assets as well as basic knowledge of financial concepts.

Key takeaways include:

  • An awareness of technical guidance on business and intangible asset valuations;
  • An understanding of key elements of the Income Approach (business valuation perspective);
  • A recognition of key concepts related to risk and cash flow; and
  • An understanding of the allocation of business income to different types of assets.

CE/CPE Credits: 7

Instructor: Raymond D. Rath, ASA, CFA

Mr. Rath is Managing Director of Globalview Advisors LLC, has over 30 years of financial valuation expertise and is a recognized leader in the valuation of businesses, securities interests and intangible assets. He has performed valuation projects for financial and tax reporting, transactions and litigation projects. Mr. Rath is extremely active in enhancing the quality of valuation practice both domestically and internationally. He has organized and moderated conferences for ASA on fair value issues including presentations by staff of the SEC, PCAOB, FASB and IASB and has led efforts resulting in an education and certification program for an Intangible Assets valuation specialty designation.

Prior to joining Globalview Advisors in 2012, Mr. Rath was a Director in the Valuation Services Practice at PricewaterhouseCoopers LLP. He was also a Senior Manager in the Valuation Services Practice at KPMG LLP and KPMG Consulting, Inc., as well as a Manager at Arthur Andersen & Company.

Mr. Rath received his MBA from the University of Southern California and his BS in Business Administration, cum laude, from the University of Kansas. He is an accredited senior Member of the American Society of Appraisers (ASA) in the business and intangible assets valuation disciplines and also a Chartered Financial Analyst (CFA).

To register or for more information, visit ASA online or call (800) 272-8258.

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ASA Markets Popular Marine Survey Course to U.S. Military Personnel

Who understands marine equipment and its special language better than marine appraisers or surveyors? How about members of our U.S. Military? This question was the topic of discussion with three ASA members who hold specialty designations in Marine Survey—Commercial and who are U.S. Military veterans: Norman F. Laskay, ASA (Navy); Norman J. Dufour, Jr., ASA (Coast Guard); and Chris G. LaBure, ASA (Coast Guard).

During the discussions three main questions were explored:

  1. Why should active or retired military personnel consider the appraisal profession for career options?
  2. What skills or experience are needed to become a machinery and technical specialties appraiser?
  3. As a U.S. Military veteran, how did you become an appraiser?

Overall our panel indicated that moving into a career as a machinery and technical specialties appraiser would be an easy transition, due to a U.S. military personnel’s technical knowledge, probable leadership exposure and willingness to work hard. The needed skills or experience identified included: a general knowledge of machinery and equipment; research, critical thinking and organization skills; along with education and training in the principles of valuation. For each of our panelists, their transition from the U.S. military followed similar paths, where each started as a marine surveyor and later pursued ASA education opportunities to become designated appraisers.

ASA_1-16-Size-Ad_080714-082814_250x180In follow up to this discussion, ASA is marketing its popular Marine Survey course to U.S. Military personnel via advertisements in the Navy Dispatch. This publication has served active duty and retired Navy and Marine Corps personnel since 1961.

ASA’s ME208: Marine Survey course will be held October 9-11, 2014 in Long Beach, CA aboard the legendary Queen Mary. Registration and information about the course is available online or by calling (800) 272-8258.

About the Course: ASA’s popular ME208: Marine Survey course addresses the topics of marine equipment and its special language, the marine industry and function of marine surveyors and appraisers, the three approaches to value as they apply to commercial and yacht appraisal, identification of marine equipment and systems, preparing a report and the different types of Bluewater and Brownwater equipment. It was written for the non-marine professional who wants basic knowledge and for the young marine professional who wants to learn more about the marine survey business and, particularly, marine asset appraisal. The course is growing into a must-attend for those in any specialty who want education hours and for those who want to increase their knowledge in an industry that has the interest of many investors.

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Countdown to Savannah—Getting there is Easier than You Think!

IMG_00931_200x150ASA’s 2014 International Appraisers Conference will be held September 14-17, 2014 in Savannah, GA at the Hyatt Regency.

More than half of ASA’s nearly 5,000 members live within a six hour drive or less, or in one of the cities offering nonstop air travel to Savannah.

For members or others who have never attended this premier event before, or have not considered going due to scheduling or travel challenges, getting to this year’s Conference in Savannah is easier than you think! Let’s take a closer look…

Air Travel

Savannah-Airport_150x100With service on American, Delta, JetBlue, United and US Airways, Savannah Hilton Head International Airport (SAV) offers 13 nonstop destinations, including: Atlanta, Charlotte, Washington, DC, Detroit, New York, Chicago, Philadelphia, Newark, Houston, Dallas/Ft. Worth and Boston—all in under two hours or less of flight time, and with roundtrip fares ranging from $165 to $477.

 

CITY NONSTOP FLIGHT TIME1 NONSTOP FARE2
Atlanta (ATL) 37 minutes $225
Charlotte (CLT) 37 minutes $259
Washington Dulles (IAD) 1 hour, 18 minutes $331
Reagan National (DCA) 1 hour, 32 minutes N/A
Detroit (DTW) 1 hour, 36 minutes $385
New York (LGA) 1 hour, 40 minutes $216
Chicago (ORD) 1 hour, 41 minutes $355
Philadelphia (PHL) 1 hour, 45 minutes $332
Newark (EWR) 1 hour, 46 minutes $216
Houston (IAH) 1 hour, 49 minutes $393
New York (JFK) 1 hour, 56 minutes $165
Dallas/Ft. Worth (DFW) 1 hour, 58 minutes $477
Boston (BOS) 2 hours, 18 minutes $304

 1Travelmath.com; 2Kayak.com

Ground Travel 3

Savannah is also easily accessible via ground transportation from a host of nearby major U.S. cities, including: Jacksonville, Spartanburg, Atlanta, Charlotte, Orlando, Tallahassee, Asheville, Raleigh, Greensboro, Tampa, Montgomery, Chattanooga, Birmingham, Palm Beach, Knoxville and more—all in under six hours or less and under 500 miles driving distance. 

CITY DRIVING TIME DRIVING DISTANCE
Jacksonville 1 hour, 59 minutes 139 miles
Spartanburg 3 hours, 36 minutes 246 miles
Atlanta 3 hours, 33 minutes 248 miles
Charlotte 3 hours, 40 minutes 252 miles
Orlando 4 hours, 1 minute 280 miles
Tallahassee 4 hours, 18 minutes 300 miles
Asheville 4 hours, 29 minutes 310 miles
Raleigh 4 hours, 36 minutes 322 miles
Greensboro 4 hours, 51 minutes 325 miles
Tampa 5 hours 335 miles
Montgomery 5 hours, 11 minutes 331 miles
Chattanooga 5 hours, 17 minutes 365 miles
Birmingham 5 hours, 39 minutes 394 miles
Palm Beach 5 hours, 58 minutes 424 miles
Knoxville 6 hours, 6 minutes 416 miles

 3Google.com

Last Minute Registration Options

For members or others still considering attending the Conference, a variety of last minute onsite registration options are available, including:

  • Full Conference Registration—$950 Member / $1,150 Non-Member;
  • One Day Registration, Mon., Sept. 15—$550 Member / $750 Non-Member;
  • One Day Registration, Tue., Sept. 16—$475 Member / $675 Non-Member; and
  • One Day Registration, Wed., Sept. 17—$425 Member / $625

Guest registration and individual tickets to special welcome and networking receptions and offsite tours are also available. View Conference Schedule online for highlights.

2014_IAC_Hyatt-Hotel_150x100Hotel

Hyatt Regency Savannah, 2 W. Bay Street Savannah, GA, 31401—SOLD OUT

The Conference will take place in the Hyatt Regency Savannah. The ASA block at the Hyatt Regency is sold out. We have secured an additional block of rooms at the Doubletree Hotel at the rate of $159/night. This rate is guaranteed until August 15 or until the block sells out. To reserve your room online click here. To reserve your room by phone, contact the Doubletree directly at 800-222-TREE. For a list of other accommodations in downtown Savannah click here.

Getting there is easier than you think! Don’t miss this valuable opportunity offering insightful education sessions presented by experts in their specialty, valuable networking opportunities and exciting off-site tours exploring the many sites and attractions available in the beautiful and historic city of Savannah. Will we see you in Savannah? Come on, ya’ll – register today!

 

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Advanced Appraisal Course for Mining Specialists – Oct. 1-3 in Tucson, AZ

Courtesy of Mark Loosli, ASA

Courtesy of Mark Loosli, ASA

ASA’s popular ME214: Identification and Appraisal of Mining and Mineral Processing Equipment course will take place October 1-3 in Tucson, AZ.

The course is designed for appraisers who specialize in the mining industry and professionals looking to learn more about this unique specialty. Many attendees are repeat students, who look to the class to provide important technical updates and valuable networking opportunities. The course is growing into a must-attend for those in this unique specialty.

How to assess and value mining and milling equipment, an overview of mines and extraction techniques; a review of hard rock mineral processing, coal processing and other equipment; and insight on identifying specific equipment along with their function and values will be covered.

Courtesy of Mark Loosli, ASA

Courtesy of Mark Loosli, ASA

A special tour to the Mission Open-Pit Copper Mine and The South Mill has been scheduled.

Course instruction will be provided by Alan C. Iannacito, FASA, a designated member of the Society for more than 35 years and Allan K. Bowles, PE, Mining Engineer, both of whom are principals of Littleton, Co based ACI Associates, Inc.

View previous course photos.

To register or for complete course details visit ASA online or call (800) 272-8258.

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Popular Marine Survey Course to Take Place Aboard the Legendary Queen Mary

Queen Mary

Queen Mary

The American Society of Appraisers (ASA) will offer its popular marine survey course aboard the legendary Queen Mary, October 9-11, 2014. Once the grandest ocean liner in the world, the vessel now serves as a Long Beach hotel, historical landmark and entertainment venue.

ASA’s popular ME208: Marine Survey course is an intermediate level course that addresses the topics of marine equipment and its special language, the marine industry and function of marine surveyors and appraisers, the three approaches to value as they apply to commercial and yacht appraisal, identification of marine equipment and systems, preparing a report and the different types of Bluewater and Brownwater equipment.

It was written for the non-marine professional who wants basic knowledge and for the young marine professional who wants to learn more about the marine survey business and, particularly, marine asset appraisal.  The course is growing into a must-attend for those in any specialty who want education hours and for those who want to increase their knowledge in an industry that has the interest of many investors.

Norman F. Laskay, ASA

Norman F. Laskay, ASA

“What better way to learn about this topic than aboard such a historic vessel”, says Norman F. Laskay, ASA, and course instructor. “We are excited not only to explore the latest developments, but also to experience the Queen Mary. The San Pedro area of Long Beach also has a good maritime museum, an aquarium, the historic SS LANE VICTORY and shopping and dining at Port O’ Call.” Mr. Laskay has been a designated member of the Society for more than 24 years and holds a specialty designation in Commercial Marine Survey. He is also a principal in the Metairie, LA office of Dufour, Laskay & Strouse, Inc.

View a video sneak peek of the course or previous course photos.

To register or for complete course details visit ASA online or call (800) 272-8258.

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Standards – Where Are They Going and Why Are They Not Enough?

Thomas D. Boyle, MAI

Thomas D. Boyle, MAI

Are standards important in valuation? Why are there so many? What is important for our clients? What is important for ourselves? Do standards need to change? In the end, are standards enough – what more do we need to do? These questions and more will be the topic of discussion at an upcoming session at ASA’s 2014 International Appraisers Conference to be held September 14-17 in Savannah, GA.

Hosted by ASA’s Machinery & Technical Specialties Discipline Committee, the “Standards – Where Are They Going and Why Are They Not Enough?” session will take place on Monday, September 15, 2014 from 4:35 – 5:35pm and will be presented by Thomas D. Boyle, MAI, who serves on the IVSC Standards Board and is Chief Appraiser and Senior Vice President for US Bank. In addition to providing valuation services for financing litigation support condemnation and assessment appeals, Mr. Boyle is also author of the Appraisal of Local Retail Properties, co-author of Real Estate Fraud; The Appraiser’s Responsibilities and Liabilities and a contributor to the latest edition of the Dictionary of Real Estate Appraisal.

To get a sneak peek into this interesting upcoming session, we sat down with Mr. Boyle to get his insight into this important topic.

Q: Why Are Standards Important In Valuation?

A: Standards are fundamental to lending. Financing necessarily involves judging both risk and reward and standards enable these judgments to be made in a consistent, predictable fashion. Lenders must evaluate a borrower’s ability to repay; therefore they must understand the borrower’s financial capabilities and the value of any offered collateral. Similarly, borrowers must understand lender’s terms and cost of funds to be borrowed.

Without standards these steps can be conducted but not in a meaningful way. Standards allow participants in the financial markets to make comparative judgments regarding alternatives. Borrowers can reasonable make comparisons among different lenders and lenders can consider different lending opportunities. Investors can compare different lenders and determine which to invest in. With standards, participants can be reasonable assured of speaking the same language. Without standards, evaluating data in order to reach a sound conclusion is highly challenged if not impossible.

Q: Why Are There So Many?

A: As global commerce has increased, so have international standards. For example, international banking standards for capital requirements have been set with the Basel Accords beginning in 1988 with Basel I, in 2004 with Basel II and in 2013 with Basel III. Basel II emphasized three “pillars” including Minimum Capital Requirements, expectations for a Supervisory Review process for both internal management and for supervisors, and Market Discipline which standardizes disclosures to help market participants understand an institution’s capital adequacy.

Q: What Is Important For Our Clients?

A: Standards underlie all valuations. Clients rely upon standards when engaging valuers for assignments. The standards set expectations for the work product. Adherence to standards allows the client and any other users, to gauge the credibility of the value estimate. Trust in that estimate is diminished to the extent the valuer deviates from the agreed-upon standard.

Standards set expectations for users and set performance criteria for valuers. To understand the valuation, one must understand the standards it was prepared under. Any review of a submitted valuation must start with a complete understanding of the standard it was prepared under.

Q: What Is Important For Ourselves?

A: There are four common elements underlying all valuations which must be addressed by a valuation standard. These four elements provide a foundation like legs on a chair to support the valuation and its credibility. The first is the definition of value to be used; The second fundamental element is the relationship of the valuer to the parties and to the asset under consideration; The third fundamental element is the valuer’s scope of work; and the fourth is the manner in which the valuation results are communicated with the client.

Q: In The End, Are Standards Enough – What More Do We Need To Do?

A: Globally, numerous standards exist. Some were developed by professional organizations, others by local or national governmental agencies. Regardless of the individual merits of such standards, the drawback they share is the burden they place on users who must re-learn a new standard each time a border is crossed or another professional group is encountered.

International Valuation Standards are published by the International Valuation Council, a not for profit organization. International Valuation Standards provide the best opportunity for consistency and uniformity of expectations for valuation of assets and liabilities globally. Use of these standards will reduce the variations seen in valuations prepared under differing standards making review and acceptance of the valuation easier for lenders and regulators alike.

Make your plans today to attend this can’t-miss session! To register for ASA’s 2014 International Appraisers Conference visit ASA online or call (800) 272-8258.

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Countdown to Savannah—Special Tours Preview

The 2014 International Appraisers Conference offers a number of great networking opportunities to catch up with old friends and make new connections. Join fellow conference colleagues for special off-site tours that have been arranged after the conference. Complete tour details are available online. Additional fees apply to off-site events, open to all attendees and guests, register online or by calling (800) 272-8258.

Sites to be visited:

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Georgia Historical Society

Georgia Historical Society—Join the Gems & Jewelry attendees as they venture off–site! First stop is the Georgia Historical Society. Chartered by the Georgia General Assembly in 1839, the Georgia Historical Society is the oldest continuously operated historical society in the South. The society is located in Historic Hodgson Hall. Designed by the American Institute of Architect’s founder Detlef Lienau, Hodgson Hall is listed on the National Register of Historic Places. The visit begins with a short background presentation on the historical society. You will be given the opportunity to view a few “typically Southern” jewelry items taken from the society’s archives just for us. You can then enjoy a self-guided tour.

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Owens-Thomas House

Owens-Thomas House—The afternoon will continue at the Owens-Thomas House. Considered by architectural historians to be one of the finest examples of English Regency architecture in America, the house was designed by the young English architect William Jay (1792-1837), one of the first professionally-trained architects practicing in the United States. The elegant residence was built from 1816-1819 for a cotton merchant and his wife, and is home to one of the finest collections of sterling silver from Savannah on exhibit. In fact, their curator, Ms. Tonia Sammons is an expert and author of “The Story of Silver in Savannah: Creating and Collecting Since the 18th Century”. Small groups will enjoy a guided tour every 15 minutes. While some are touring others can be shopping in their great gift shop. Attendees extending their Savannah visit after the conference can purchase a three-house tour pass for an additional $3.95 at the gift shop. Across the street you will find establishments offering refreshing beverages. Some attendees may want to end the day with one in hand while walking the tree lined streets of this historical district.

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Telfair Academy

Telfair Museum Jepson Center—The Telfair Academy is housed in a Neoclassical building designed by renowned Savannah architect, William Jay and completed in 1819. The museum was officially opened in 1886, making it the oldest public art museum in the south. Noted for its nineteenth-century period rooms filled with decorative and fine arts, the Academy houses fine examples of American Impressionism and Ashcan Realism, including masterpieces by Childe Hassam, Frederick Frieseke, Gari Melchers, Robert Henri, George Bellows, and George Luks, among others. Sylvia Shaw Judson’s Bird Girl, known for its appearance on the dust jacket of Midnight in the Garden of Good and Evil is on long-term loan to the Telfair Academy. The Jepson Center is home to the Telfair’s Kirk Varnedoe Collection, a cornerstone of the museum’s contemporary holdings. Assembled in honor of the late Savannah native, scholar, and MoMA curator Kirk Varnedoe, the collection features works on paper by some of the most pivotal artists of the past fifty years, including Jasper Johns, Chuck Close, Roy Lichtenstein, Jeff Koons, Robert Rauschenberg, Frank Stella, and Richard Avedon. The museum’s diverse contemporary collection also features important works by William Christenberry, Helen Levitt, Sam Gilliam, James Brooks, and many notable Georgia artists.

IAC_Ghost Tour

Ghost Tour

Ghost Tour—Join Us if You Dare! Embark on a journey into the dark side of America’s “Most Haunted City”. Spend an evening discovering why Savannah is plagued by more than its share of paranormal activity. New doors will be opened to the “spirits and ghosts” of Savannah.

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Savannah History Museum

Savannah History Museum—The Savannah History Museum is located within the historic Central of Georgia Railway train shed and offers a glimpse into Savannah’s past with a story starting in 1733, spanning the American Revolution to Civil War, to the Industrial Revolution and beyond. The exhibits also highlight the City’s musical, cultural, and artistic contributions. View the bench used in the Forrest Gump movie, Johnny Mercer’s Oscar and Grammy Awards and celebrate 100 years of Girl Scouting by visiting our new exhibit “Women of Merit: Featuring Juliette Gordon Low & The Girl Scouts” which opened in June 2012. Appraisers can acquaint themselves with an overview of the history of Savannah through a self-guided tour of the museum’s permanent collection.

IAC_Green-Meldrim House

Green-Meldrim-House

Green-Meldrim House—General William Tecumseh Sherman used the house as headquarters when the Federal army occupied Savannah during the Civil War, upon the invitation of Mr. Green. It was at this time (December, 1864) that General Sherman sent his famous telegram to President Lincoln offering him the City of Savannah as a Christmas gift. In 1976, the house was designated a National Historic Landmark by the United States Department of the Interior. Mr. Green was not possessed of great wealth when he arrived in Savannah. He became a cotton merchant and ship owner. By 1850, he had amassed a fortune sufficient to build the most elaborate house in Savannah at a cost of $93,000. According to Green family records, $40,000 of the cost of the building materials including flagstones, laths, planks and bricks, were brought from England as ballast on Mr. Green’s ships, Recent restorations have revealed that the bricks were actually made at a foundry in Macon, GA.The Green-Meldrim House is one of the finest examples of Gothic Revival architecture to be found in the South. The house was constructed in the early 1850’s as the residence of Mr. Charles Green, an Englishman who came to Savannah in 1833.

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Andrew Low House

Andrew Low House—The Andrew Low House preserves one of the finest collections of period furnishings relating to the history of Savannah and the Low family. It includes examples of works by some of America’s most prestigious furniture makers including Duncan Phyfe, Joseph Barry, Joseph Meeks, Charles-Honore Lannuier, and Michael Allison. Additional holdings include silver, porcelain, paintings, prints, photographs, and archival materials relating to the Low family, Georgia History and The National Society of The Colonial Dames of America in the State of Georgia.

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Maritime Museum

Ships of the Sea Maritime Museum—The Collection of the Ships of the Sea Museum is displayed within the historic William Scarbrough House and Gardens, and features nine galleries of ship models, maritime paintings and artifacts. The vast majority of ship models were commissioned by the Museum to interpret Savannah’s rich maritime history. The collection of models includes, colonial vessels, ironclads, ocean-going steamers, and modern navy ships. All of the models have been strenuously researched and delicately detailed. Further, the Museum’s commissioned models are conveniently built to the same scale: 3/8″ = 1′. Appraisers will experience a guided tour and time to visit one-on-one with curator Wendy Melton.

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SCAD Sidewalk Art

Savannah College of Art and Design—The SCAD Museum of Art is a premier contemporary art museum established to enrich the education of SCAD students and to attract and delight visitors from around the world. Introducing new exhibitions every academic quarter, the museum showcases work by a range of highly acclaimed artists from a variety of cultural backgrounds and time periods. The permanent collection includes not only major holdings of British and American Art, but also a Modern and Contemporary Collection and the celebrated Walter O. Evans Collection of African American Art. Appraisers will be treated to a special curatorial tour of select holdings.

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ASA Detroit Chapter Holds Stellar Event on Golf Course and Hotel/Motel Valuation

The whole outgoing (13-14) board (lt to rt) Jason LeRoy, ASA (Past President), Dan Edwards, ASA (VP), Kristen Sieloff, ASA (Secr/Treas), Ron Prat, ASA (Pres), and me Micheal R. Lohmeier, FASA (Director).  Only person we are missing on our board is Norman Thomas, ASA who also served as Director this past year.

The whole outgoing (13-14) board (lt to rt) Jason LeRoy, ASA (Past President), Dan Edwards, ASA (VP), Kristen Sieloff, ASA (Secr/Treas), Ron Prat, ASA (Pres), and me Micheal R. Lohmeier, FASA (Director). Only person we are missing on our board is Norman Thomas, ASA who also served as Director this past year.

In early June, the Detroit Chapter of the American Society of Appraisers held a program on Golf Course and Hotel/Motel Valuation presented by Dr. Lawrence J. Golicz, PhD, ASA.The event was “sold out” having 80 attendees, made up primarily of local property tax appraisers and tax agents/attorneys.

One participant in the program stated “This was one of the most insightful programs I’ve taken.  Dr. Golicz provided tremendous insight into how to identify and value these specialized properties.”  – Micheal R. Lohmeier, FASA and City Assessor for the City of Auburn Hills (Oakland County, Michigan).

Dr. Lawrence Golicz, PhD, ASA, MAI teaching the golf course and hotel/motel program to a sold out crowd of 80 people.

Dr. Lawrence Golicz, PhD, ASA, MAI teaching the golf course and hotel/motel program to a sold out crowd of 80 people.

The ASA Detroit Chapter educational offerings have been growing in leaps in bounds with a focus on assessment practices. Last fall, they held an industrial valuation program with an optional education achievement certificate exam; and this year they added education certificate exams for golf course valuation and hotel/motel valuation. Detroit Chapter ASA has planned additional specialty seminars planned for late 2014 and early 2015. Click here to view more pictures from the event.

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ASA, NAIFA Tell Banking Agencies that Proposed AMC Rules Fall Short on Guidance, are Inconsistent with Congressional Intent

By John D. Russell, JD

In comments filed June 6 with several federal banking agencies, the American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers expressed our concerns that rules proposed to regulate appraisal management company (AMC) conduct lack sufficient detail to allow for effective implementation. Additionally, the organizations expressed concern that some provisions of the proposed rule depart from Congress’s intent when the enabling law was included in the Dodd-Frank Act, and could negatively affect the overall public policy goals.

In the comment letter, ASA and NAIFA cover numerous concerns with the proposed rule, including:

  • The lack of detail regarding the treatment of appraisers by AMCs is insufficient to allow for consistent application by the numerous federal and state agencies who will be required to enforce  these rules;
  • The absence of a specific, enumerated process in the rule under which appraisers and others can  level complaints against AMCs who fall short of their responsibilities under both these rules and the existing Appraisal Independence rules;
  • The letter strongly objects to the decision to delay implementation of rules imposing appraisal review standards for AMCs, including requiring reliance on state licensed and certified appraisers to perform reviews;
  • We argue that the proposed rules should apply equally to residential and commercial AMCs; and,
  • The proposal fails to address nonpayment of appraiser fees by AMCs when the AMC has financial difficulties or goes bankrupt, and to clarify that lenders who retain AMCs should be required to pay appraisers when an AMC is insolvent or otherwise unfairly refuses to pay for the appraisal.

To read the complete comment letter, click here.

—John D. Russell, JD, is ASA’s Director of Government Relations. Mr. Russell supports the advancement of legislative initiatives that benefit the Society’s members; coordinates with ASA’s Governmental Relations Committee and consultant to keep members informed of legislative and regulatory issues at national and state levels; and is the staff liaison to ASA-PAC.

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