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Summer 2019 Newsletter

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President's Letter

Hello North Star Chapter members,

Happy Summer! This is a busy time of year for us all, so I will keep this message brief with a few highlights from the first half of the year.

On June 6th, we held the 21st Annual Real Estate Trends Seminar. This is by far our most popular event every year, and once again we had a wonderful turnout. We want to thank our event sponsors: REDI (Platinum), Appraisal Institute Insurance Trust (Gold), and CoStar (Silver) for helping us make this event a success. One of the highlights of the day was certainly our commercial session speaker Murray Kornberg, who returned as a presenter for the 16th(!) year in a row with his Capital Markets Update. His session was certainly a fan favorite once again! Attendees will have also noticed that this year we tried to broaden our horizons quite literally, by including more upstate and rural topics, like our commercial session on the Fargo-Moorhead market and a general session on agricultural trends in the greater five state area. We hope to continue bringing a wider array of topics such as these to you in future events – stay tuned!

Our Government Relations Committee (GRC) also had an impressive start to the year. You’ll no doubt have seen the announcement last month that the special session of the Minnesota State Legislature concluded with the signing of bill H.F.No.2, which included three important pieces of appraisal-related legislation (more on that below). I would like to congratulate and personally thank each of our GRC members  - Bryon Miller, Brett Hall, Joe Ibach, Christy Mackaman, and Ray Vandeveer – for all their hard work this legislative season! Your tireless efforts – including holding the 2nd Annual Capitol Hill Day in April – helped achieve this great win for appraisers across the state of Minnesota. 
(Continue Reading)

Sincerely,

Josh Folland, MAI
2019 North Star Chapter President

2019 Trends Conference Recap

The 21st Annual Real Estate Trends Seminar was held on June 6th, 2019, at the Continuing Education and Conference Center at the University of Minnesota campus. It was an excellent event that was chock full of great information from our various presenters, which shed light on a variety of topics and issues facing the appraisal industry.
 
The morning commercial session started off with an always insightful Capital Markets Update by Murray Kornberg of Dougherty Funding, LLC. Next, the North Star Chapter’s very own Brett Hall, MAI, SRA enlightened the crowd with his presentation on the “Dark Store Theory” of the valuation issues facing Big Box retail properties. The morning session was capped off by Petter Eriksmoen of Appraisal Services, Inc., who provided an interesting overview of the many facets of the Fargo, ND-Moorhead, MN Commercial Real Estate Market.
 
The morning residential session kicked off with Ryan Nelson of the Department of Veteran Affairs highlighting the VA Home Loan and Appraisal Program. This was followed up by a summary of Appraising Accessory Dwelling Units by Shanna Sether with the City of Minneapolis Planning Department.  Wrapping up the morning was Adam Ripple with Rinke Noonan, who shared the many nuances concerning Land Use Issues in Lakeshore properties. (Continue Reading)




Jake Scheeler, MAI
Hospitality Committee

Save the Date! Summer Chapter Meeting

Wednesday, September 11, 2019
Location: TBD

Speaker
Tony Barranco, SVP of Ryan Companies, will update our Chapter on the Ford Site Redevelopment Project in St. Paul.

Registration will be opening soon!

Committee Reports

Nominating Committee - Submitted by Chair Justin Reed, MAI

The Nominating Committee is actively seeking qualified candidates for future leadership within AI.  We would welcome any potential interested parties for consideration.

Education Committee - Submitted by Chair Brett Hall, MAI, SRA

The Education Committee is gearing up for the 2020 season.  We will be sending out a survey in the near future asking what you would like to see on the schedule for 2020.  When it is sent out, please take a moment to let us know.  We have two more USPAP update courses planned for 2019 if you still need to fulfill your CE requirement.  Check the chapter’s website for all the upcoming courses.  The Valuation of Craft Breweries home grown seminar was attended by 40 appraisers, assessors and brokers.  It was held at Modist Brewing in Minneapolis and, being a working brewery, the venue was a little noisier than ideal, but I hope all that attended had fun.   A special thanks go out to Clay Dodd and Stu Mortrude for sharing their knowledge at this event.

MAI Designated Member: Trisha Karki, MAI, AI-GRS

                              Designated April 30, 2019 

I graduated from University of Wisconsin-Madison with a BBA and major in Real Estate.  Out of college, I took a job working for a MAI outside of Chicago as a fee appraiser.  After four years as a fee appraiser, I made the switch over to reviewing appraisals for MB Financial Bank in Chicago.  I was with MB for eight years and then in 2015 moved back home to Minneapolis and have been the Chief Commercial Real Estate Appraiser for TCF Bank since that time.
 
I had my classroom hours and experience credit for the MAI completed for a number of years before I made completing the comp exams and demo report a priority. I am thankful for my wonderful advisor, Julie Battaglia, MAI, AI-GRS for providing continuous encouragement at those corners where I wasn’t so sure I would continue on.  For me, setting up specific milestones and hard deadlines of what I wanted to accomplish during a particular time period, was key in accomplishing my goal of obtaining my MAI.

Ready to begin your own designation journey? Click the banner below to get started!

David Lawrence, MAI, SRA, AI-GRS, AI-RRS

Designated April 18, 2019 

Please join us in congratulating David, who was officially awarded his AI-GRS designation on April 18, 2019.  David is the founder and president of DAL Appraisal & Land Services in Sioux Falls, SD.

Fun Fact: David is the only currently active North Star Chapter member to hold four designations from the Appraisal Institute.

Chapter members, send your well-wishes to david@dalappraisal.com.

Thank you, David, for your impressive dedication to improving the appraisal profession by earning your fourth Appraisal Institute designation!

- North Star Chapter Board of Directors

Member Updates: March 1, 2019 - June 26, 2019

 
New MAI Designated Members:
  • Erik N. Coglianese, MAI - Minneapolis, MN
  • Trisha L. Karki, MAI, AI-GRS - TCF Bank, Minnetonka, MN
New AI-GRS Designated Members:
  • Marsha L. Goff, MAI, AI-GRS - Merchants Capital, St. Paul, MN
  • Sierra Hamilton, AI-GRS, Minneapolis, MN
  • David A. Lawrence, MAI, SRA, AI-GRS, AI-RRS - DAL Appraisal & Land Services, Sioux Falls, SD
New AI-RRS Designated Members:
  • Adam L. Lalim, SRA, AI-RRS - State Certified Residential Appraiser, Watertown, SD
New Candidates for Designation:
  • Amy Fink - Aberdeen Appraisal Service - Aberdeen, SD
  • Paul M. Lewis - Paul Lewis & Associates -  Orono,  MN
  • Eric Nycklemoe - St. Louis Park, MN
  • Erin Waytas - Nagell Appraisal - Plymouth, MN

2020 Chapter Board Nominations Due June 30th

 
The North Star Chapter is looking for motivated and energetic volunteers to help us reach our goals.  Please click here for more information.

If you are interested in being considered for any of these positions, please download and complete the nomination form, and return here or fax to 651-317-8048.  You may also nominate a qualified candidate other than yourself, but please obtain their permission prior to submitting their nomination.  Nominations must be submitted by midnight on Sunday, June 30, 2019.

If you have any questions or would like to learn more about the duties of a particular position, please contact Justin Reed, MAI here.

Upcoming Chapter Education

Full Schedule
Learn at your own pace anytime, anywhere.  Top-notch Appraisal Institute courses and seminars come straight to your desktop with online education!  Learn from any computer anywhere, whenever you have time.  It’s easy, convenient and a great way to get the education you want.  Check out the current course listing now!

Tom Turner Grant

Candidates for Designation (MAI and SRA) are eligible to receive the Tom Turner Grant.  The recipient will be determined by attendance at the most North Star Chapter-sponsored education courses and accrual of the most course hours between the time period of September 1 to August 31 of the following year (the Minnesota licensing year).

In the event that there is a tie, the Scholarship Committee will consider the following criteria:

  • Number of membership years with the North Star Chapter
  • Chapter committee service and/or service on the Board of Directors

At the Turner family's request, the grant may be used by the recipient however the individual sees fit to continue their appraisal career advancement.  It does not have to be applied to Chapter or AI education.  A Chapter check will be awarded to the individual in the amount of $500.

Award Cycle: September 1, 2018 - August 31, 2019

For more information, check out the Chapter website.

Leadership Development & Advisory Council

Corey Kost, MAI, and Christine Mackaman, MAI, AI-GRS attended LDAC this year. LDAC was held in Washington, D.C. from May 15-17.  Topics of discussion this year included: education, classroom alternatives, evaluations and bifurcated appraisal reports, and chapter operations, program, and service needs.

Legislative Updates


Recap of Minnesota 2019 Session

The Special Session of the Minnesota State Legislature concluded on May 24, 2019 with Governor Tim Walz signing the omnibus bill H.F.No. 2.  The Government Relations Committee (GRC) is proud to share that the bill included three important pieces of appraisal-related legislation:

  1. Alignment with the latest AQB licensing requirements
  2. Making it easier for out-of-state appraisers to obtain temporary licenses
  3. Codify the payment of the appraisal advisory board as well as the two-year allocation of $10,000 for the per diem and mileage of board members for their service

Each of these items positively impacts the appraisal profession in the State of Minnesota.  This achievement marks the fourth time in as many years that we have introduced legislation which has subsequently become law.

We also had a successful 2nd Annual Capitol Hill Day.  Reps. Tim O'Driscoll and John Huot came to discuss our legislation. Paul Eger, head lobbyist for the Minnesota REALTORS, came to discuss their latest legislative efforts as well.  Participants met with their legislators to oppose HF1991, a DNR bill to raise the appraisal threshold from $50K to $100K.

We hope to see you at the 3rd Annual Capitol Hill Day in 2020!

Thank you,
Byron Miller, SRA, AI-RRS, RAA, MSSE
North Star Chapter Government Relations Committee Chair
 

ASC North Dakota Waiver Comments

The North Star Chapter and AI national need your help in fighting off the latest threat to reduce appraisals in North Dakota.

The Appraisal Subcommittee (ASC) is requesting comments regarding the temporary waiver request for the State of North Dakota.  Public comments are requested and due by July 1, 2019. (Read More)

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