The Chapter Welcomes You!

We are home to Indiana’s premier appraisers. As the local organization of the Appraisal Institute, we host chapter meetings and sponsor educational offerings.

Our purpose is to serve our AI professionals with its Branch Chapters by recognizing the geographic and professional diversity in providing services which enhance the abilities and opportunities of its professionals enabling them to achieve their objectives in a professional and ethical manner.

This web page provides information from the Hoosier State Chapter to our AI professionals and the public. For more information, or if you are interested in joining our organization, visit the national home page of the Appraisal Institute.

Appraisal Institute Urges Congress to Address Valuation Issues

CHICAGO (June 20, 2019) – The president of the Appraisal Institute, the nation’s largest professional association of real estate appraisers, encouraged Congress to act on valuation topics during today’s hearing on Capitol Hill.

Stephen S. Wagner, MAI, SRA, AI-GRS, told the House Financial Services Committee’s Housing, Community Development and Insurance Subcommittee that the Appraisal Institute supports passage of H.R. 2852, which would allow licensed appraisers to perform appraisals for Federal Housing Administration loans.

“We support this bill because it addresses long-standing concerns about the implementation of pre-existing FHA appraisal requirements, which are unique and differ from those of the GSEs [Freddie Mac and Fannie Mae] and the conventional market,” Wagner’s written testimony said.

Wagner also said the Appraisal Institute supports the intent of draft legislation to address fees established by the Appraisal Subcommittee. The discussion draft would authorize less burdensome formulas for appraisal management company registry fees.

Wagner noted that the discussion draft includes a provision that the Appraisal Institute recommends and strongly supports – to require full disclosure of appraisal management companies’ fees and appraisers’ fees by separating them on the homebuyer’s Closing Disclosure Form. “This provision would … increase consumer awareness around the appraisal process,” his written testimony said.

Wagner made other legislative recommendations during the hearing, titled “What’s Your Home Worth? A Review of the Appraisal Industry.” They included:

  • Remove appraisal from the zero-tolerance bucket under the Truth in Lending Act’s and Real Estate Settlements Procedures Act’s Integration Disclosure rules, known as TRID.
  • Establish parameters around rulemaking pursuant to the Economic Growth and Paperwork Reduction Act process.
  • Authorize the Appraisal Subcommittee to serve as a “negotiated rulemaking committee” to establish consistent and flexible lender guidelines relating to appraisals that would address issues such as inactive or limited markets where there is an absence of comparable sales.
  • Reform the nation’s appraisal regulatory structure by establishing a nationwide licensing system for appraisers, where appraisers could find “one-stop shopping” for appraiser license application and renewals.

Wagner also addressed the subcommittee’s questions regarding whether the Appraisal Institute is concerned by recent proposed regulation from federal financial regulatory agencies to increase the de minimus threshold and ultimately increase the number of transactions that are exempt from appraisal requirements.

“We believe two pending proposals – one involving the federal bank regulatory agencies, and another involving the credit union regulator – would increase risk to safety and soundness of financial institutions and the health of the financial system,” Wagner’s written testimony said. “The agencies are competing over which sector of the financial community can do the least due diligence. Frankly, this is preposterous and should be a concern to all taxpayers, who ultimately pay the bills for failures in our financial system.”

The subcommittee also asked whether there are ongoing concerns that appraiser independence is being undermined. If so, members asked, what more can Congress do to strengthen appraiser independence protections?

“There are multiple influences on the independence of appraisers and the independence of the appraisal process,” Wagner said in his written testimony. “Our members experience pressure in less overt or masked ways from any number of parties to the transaction.”

He also cited lenders’ focus when selecting an appraiser on price and turnaround time instead of quality of service or competence; a lack of resources for federal regulatory agencies; and most banks’ failure to take responsibility of residential appraisal functions and instead rely on appraisal management companies.

Read Wagner’s written testimony.

Watch a video of the hearing.


Valuation Career Opportunities Abound, Appraisal Institute Tells Graduates

CHICAGO (May 23, 2019) – As the number of real estate appraisers has decreased in recent years, rewarding career opportunities have opened for recent graduates, according to the nation’s largest professional association of real estate appraisers.

“There are all sorts of benefits to a real estate valuation career,” said Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS. “There’s a demand for your services, you control your work schedule, you can own a business, there’s solid earning potential, and you’ll find a variety of complex and unusual assignments.”

The number of active real estate appraisers in the U.S. (as of Dec. 31, 2018) stood at 78,015, a decrease of 5% from year-end 2017. The average rate of decrease for the past five years has been approximately 2.6% annually. Declines are expected to continue due to retirements, fewer new people entering the valuation profession, economic factors, government regulation and greater use of data analysis technologies. That trend creates opportunities for the next generation of appraisers.

Appraisers play an essential role in the economy and the real estate industry by developing reliable and credible opinions of value for their clients. Appraisers offer risk mitigation to help ensure safety and soundness of the lending system. In addition to residential and commercial lending work, appraisers provide valuable services such as client counseling, litigation support, right-of-way and eminent domain work, taxation-related valuation and many other areas of specialization.

“It’s essential for the valuation profession’s future that we attract new and energized professionals to help meet client demand,” Wagner said. “As the nation’s largest professional association of real estate appraisers, the Appraisal Institute is dedicated to helping potential appraisers develop the skills they need to succeed in an ever-evolving and challenging field.”

Appraisal Institute research shows that more than one-fifth of appraisers earn at least $150,000 annually; another nearly one-fourth make at least $100,000. AI research also shows that appraisers who have an Appraisal Institute designation earn an average of 26 percent more than their professional counterparts.

The Appraisal Institute has a master’s degree program for graduate students pursuing an MSRE, MRED, or MBA with a concentration in real estate. The program provides an opportunity to obtain an Appraisal Institute MAI designation on an accelerated path. The Appraisal Institute Education and Relief Foundation offers scholarships for undergraduates, graduates and minorities and women.

“The Appraisal Institute consistently and proactively pursues ways to increase enrollment in qualifying education and designation education courses,” Wagner said. “By marketing our courses to colleges, we try to make our education more widely available and to increase the number of young professionals who want to become appraisers.”

The Careers Building Communities website allows visitors to navigate through the scores of career paths across all sectors of real estate. The Appraisal Institute’s section of the website outlines why students and others should consider a career as an appraiser. The website is a collaboration of 29 real estate industry organizations, representing more than 10 million jobs, that focuses on raising awareness and attracting diverse talent to the industry.

Learn more about starting a real estate valuation career on the Appraisal Institute’s website.  

See statistics about the U.S. valuation profession.


Appraisal Institute, Freddie Mac Unveil New Valuation Course on Manufactured Homes

CHICAGO (April 16, 2019) – As part of their recently announced collaboration, the Appraisal Institute and Freddie Mac unveiled a new educational offering today in Dallas that is designed to teach appraisers the latest skills on how to value manufactured homes.

The Appraisal Institute’s new 7.5-hour course, developed with Freddie Mac, provides an in-depth look into preparing appraisals for traditional manufactured homes and offers insight into CHOICEHomeSM – the new type of high-quality manufactured homes that are built to HUD code but developed with site-built features, such as higher-pitch roof lines, permanent foundations, dry wall throughout, energy-efficient features, and site-built components, such as a garage or carport.

Appraisers will learn how to meet the new, specific requirements of Freddie Mac, the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Agriculture and Fannie Mae using a new, ground-breaking tool – the Manufactured Home Quality Rating Worksheet – which is consistent with the Marshall & Swift/CoreLogic Residential Cost Handbook and the Uniform Appraisal Dataset.

The course begins with a thorough review of existing manufactured housing products and then delves into CHOICEHome specifications, certification and CHOICEHome financing eligibility. Applying elementary and complex techniques used in the cost and the sales comparison approaches, appraisers work through a case study of these homes to develop a credible appraisal report.

Freddie Mac and the Appraisal Institute will offer more than 60 educational opportunities in classroom settings in nearly 30 states through November, meeting an important need in the marketplace for homebuyers, lenders, appraisers and homebuilders. Online classes also will be offered.

Besides today’s offering in Dallas, other initial classes will be held:

  • April 23 (Atlanta)
  • April 25 (Charlotte, North Carolina)
  • May 7 (Livonia, Michigan).

Learn more or sign up for classes here.

The Appraisal Institute’s collaboration with Freddie Mac provides practical appraisal training to all appraisers as well as specifically targeted training and case studies to address manufactured housing valuation assignments for Freddie Mac’s CHOICEHome. CHOICEHome brings conventional mortgage financing to factory-built homes to help increase the availability of quality affordable homes that borrowers want, while providing lenders with the innovative financing options they need.

Freddie Mac will treat loans secured by CHOICEHome like the loans secured via a single-family, site-built home. As a result, appraisers will be able to use site-built housing as a comparable sale for valuation. Recognizing that appraising manufactured housing comes with certain challenges, typically around availability of comparable sales, additional flexibility to also consider and appropriately adjust site-built homes is covered in the training.

The Appraisal Institute has led the valuation profession for over 85 years by developing and maintaining the “body of knowledge,” also known as appraisal methodology. The Appraisal Institute is known worldwide for providing high-quality education that has set a standard for excellence and thoroughness.

Manufactured housing is the largest source of unsubsidized affordable housing in the United States. It supports the needs of very low-, low-, and moderate-income borrowers; borrowers in underserved markets and rural areas; and certain other demographics. More than 22 million U.S. families live in factory-built homes today. With that number expected to grow, factory-built homes offer a meaningful way to address the affordable housing supply shortage and expand access to quality housing options.


Appraisers Adapt to Evolving Residential Market: Valuation Magazine

CHICAGO (April 2, 2019) – Appraisers working in the residential real estate sector say national trends broadly apply to their markets, but they note that since each region essentially is local, they need to adapt to ever-changing area dynamics, according to an article in Valuation magazine’s first quarter 2019 issue.

Valuation magazine is a quarterly publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

The newest issue’s cover story, “Residential Realties,” addresses how appraisers working in the residential real estate sector must keep up with national trends, such as slowing home price growth, tight housing inventories and the possibility of a market correction – in addition to local nuances and other complexities – in a constantly evolving environment.

Read “Residential Realities”  in Valuation magazine’s first quarter 2019 issue.

Also in this issue:

“Better Together?” addresses how – although the backbone of the valuation profession historically has been small, local shops – recently the profession has moved in a different direction as a wave of consolidation has created larger industry players. Read more to see if appraisers see opportunities in consolidation or if they think small and lean is the formula for success.

“Strong Vital Signs” discusses how health care is not only one of the hottest real estate sectors right now, but – in terms of valuation – also one of the most complex. Read more to learn what societal changes, legislative requirements and regulatory risks are challenging appraisers who work in this sector.


First Quarter BOD Meeting and General Membership Meeting

When:  March 12, 2019

Where:  Topgolf Fishers

Register today for first quarter meetings, lunch and three hours of game time at Topgolf!  Everyone can play-no golf experience required. Learn more about Topgolf here.

Click here to register!

• 11:00AM to 12:15PM – Board Meeting in Main Level Signature Room East
• 12:15PM to 12:30PM – Registration in Signature Room East
• 12:30PM – Buffet opens & General Membership Luncheon Meeting starts
• 1:30PM to 4:30PM – TopGolf Bays
• 2:00PM – Buffet ends

 


2018  Hoosier State Chapter Election Results

Thank you to everyone who participated. Congratulations to those elected!

Click for election results and contact information 


 

New AI Video:  What Was Your Most Unusual Valuation Assignment?

In the Appraisal Institute’s latest video, three Designated Members describe unusual assignments they’ve encountered in their work.

http://blog.appraisalinstitute.org/appraisal-institute-professionals-share-their-most-unusual-valuation-assignments/ 

 


Appraisal Institute Leads 34 Groups in Advancing Changes to Bank Regulation Bill

CHICAGO (March 13, 2018) – The nation’s largest professional association of real estate appraisers today led nearly three dozen valuation organizations in applauding revisions to a bipartisan Senate bill that would roll back many post-financial-crisis banking rules found in the Dodd-Frank Act.  Read the full News Release by clicking here.

 


2017  Hoosier State Chapter Election Results

Thank you to everyone who participated. Congratulations to those elected!

Click for election results and contact information 

 

 


Millennials Driving Multifamily Sector Boom: Valuation Magazine

 CHICAGO (March 21, 2017) – Millennials have postponed home buying and are now in their peak renting years, creating a demand for multifamily properties that has pushed the sector to record-growth levels with no sign of slowing, according to an article published in Valuation magazine’s first quarter 2017 issue.

Valuation magazine is a quarterly publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

Read “Strength in Numbers” in Valuation magazine’s first quarter 2017 issue.

Also in this issue:

“On the Right Track” focuses on California’s high-speed rail project, which is now under construction after decades of planning. The valuation and acquisition of the thousands of acres needed for the rail’s right of way can be an appraiser’s dream job or greatest challenge.

“Uncommon Ground” examines the opportunities the valuation of ground leases can offer appraisers. Their expertise can provide input for the initial lease, for the later lease renegotiation and for the resolution of disagreements through arbitration.

 


November Volunteer of Distinction Award

The late Thomas P. Morlan III, MAI, SREA, SRA was recognized as a Volunteer of Distinction in November.  Mr. Morlan was a dedicated and passionate appraiser.  He was very involved in the Hoosier State Chapter and will be missed.

Read the full article here.


New AI videos on YouTube featuring HSC Member!

Click here to watch Hoosier State Chapter member, Don R. “Randy” Scheidt, MAI, SRPA, SRA and others describe unique and challenging assignments!

You can see the related blog post on AI’s Opinions of Value blog

 

Click here to watch Hoosier State Chapter member, Don R. “Randy” Scheidt, MAI, SRPA, SRA describe how his Designations have helped advance his career.

Join Today!


Stephen S. Wagner, MAI, SRA, AI-GRS elected 2017 Appraisal Institute Vice President

The Hoosier State Chapter of the Appraisal Institute would like to congratulate one of its own members, Stephen S. Wagner, MAI, SRA, AI-GRS, of West Lafayette, Indiana.  Mr. Wagner was elected to serve as the 2017 National Vice President of the Appraisal Institute by its Board of Directors.  Mr. Wagner’s one-year term at the Appraisal Institute will begin Jan. 1, followed by one year each as president-elect, president and immediate past president.

Click here for the full press release.


Stephen S. Wagner, MAI, SRA, AI-GRS honored with President’s Award

The Hoosier State Chapter of the Appraisal Institute would like to congratulate one of its own members, Stephen S. Wagner, MAI, SRA, AI-GRS, of West Lafayette, Indiana.  He was awarded the President’s Award at the annual Appraisal Institute conference.

“The President’s Award is presented to an Appraisal Institute professional who is committed to the organization; currently engaged in its activities; an effective spokesperson; a representative at all times; and in touch with both the needs of other AI professionals and the changes that the organization must help its professionals to meet.”

Click here for the full press release.


2016 Election Results

Click for election results and contact information for those elected.

First Quarter BOD Meeting and General Membership Meeting

When:  March 12, 2019

Where:  Topgolf Fishers

Register today for first quarter meetings, lunch and three hours of game time at Topgolf!  Everyone can play-no golf experience required. Learn more about Topgolf here.

Click here to register!

• 11:00AM to 12:15PM – Board Meeting in Main Level Signature Room East
• 12:15PM to 12:30PM – Registration in Signature Room East
• 12:30PM – Buffet opens & General Membership Luncheon Meeting starts
• 1:30PM to 4:30PM – TopGolf Bays
• 2:00PM – Buffet ends

 


2018  Hoosier State Chapter Election Results

Thank you to everyone who participated. Congratulations to those elected!

Click for election results and contact information 


 

New AI Video:  What Was Your Most Unusual Valuation Assignment?

In the Appraisal Institute’s latest video, three Designated Members describe unusual assignments they’ve encountered in their work.

http://blog.appraisalinstitute.org/appraisal-institute-professionals-share-their-most-unusual-valuation-assignments/ 

 


Appraisal Institute Leads 34 Groups in Advancing Changes to Bank Regulation Bill

CHICAGO (March 13, 2018) – The nation’s largest professional association of real estate appraisers today led nearly three dozen valuation organizations in applauding revisions to a bipartisan Senate bill that would roll back many post-financial-crisis banking rules found in the Dodd-Frank Act.  Read the full News Release by clicking here.

 


2017  Hoosier State Chapter Election Results

Thank you to everyone who participated. Congratulations to those elected!

Click for election results and contact information 

 

 


Millennials Driving Multifamily Sector Boom: Valuation Magazine

 CHICAGO (March 21, 2017) – Millennials have postponed home buying and are now in their peak renting years, creating a demand for multifamily properties that has pushed the sector to record-growth levels with no sign of slowing, according to an article published in Valuation magazine’s first quarter 2017 issue.

Valuation magazine is a quarterly publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

Read “Strength in Numbers” in Valuation magazine’s first quarter 2017 issue.

Also in this issue:

“On the Right Track” focuses on California’s high-speed rail project, which is now under construction after decades of planning. The valuation and acquisition of the thousands of acres needed for the rail’s right of way can be an appraiser’s dream job or greatest challenge.

“Uncommon Ground” examines the opportunities the valuation of ground leases can offer appraisers. Their expertise can provide input for the initial lease, for the later lease renegotiation and for the resolution of disagreements through arbitration.

 


November Volunteer of Distinction Award

The late Thomas P. Morlan III, MAI, SREA, SRA was recognized as a Volunteer of Distinction in November.  Mr. Morlan was a dedicated and passionate appraiser.  He was very involved in the Hoosier State Chapter and will be missed.

Read the full article here.


New AI videos on YouTube featuring HSC Member!

Click here to watch Hoosier State Chapter member, Don R. “Randy” Scheidt, MAI, SRPA, SRA and others describe unique and challenging assignments!

You can see the related blog post on AI’s Opinions of Value blog

 

Click here to watch Hoosier State Chapter member, Don R. “Randy” Scheidt, MAI, SRPA, SRA describe how his Designations have helped advance his career.

Join Today!


Stephen S. Wagner, MAI, SRA, AI-GRS elected 2017 Appraisal Institute Vice President

The Hoosier State Chapter of the Appraisal Institute would like to congratulate one of its own members, Stephen S. Wagner, MAI, SRA, AI-GRS, of West Lafayette, Indiana.  Mr. Wagner was elected to serve as the 2017 National Vice President of the Appraisal Institute by its Board of Directors.  Mr. Wagner’s one-year term at the Appraisal Institute will begin Jan. 1, followed by one year each as president-elect, president and immediate past president.

Click here for the full press release.


Stephen S. Wagner, MAI, SRA, AI-GRS honored with President’s Award

The Hoosier State Chapter of the Appraisal Institute would like to congratulate one of its own members, Stephen S. Wagner, MAI, SRA, AI-GRS, of West Lafayette, Indiana.  He was awarded the President’s Award at the annual Appraisal Institute conference.

“The President’s Award is presented to an Appraisal Institute professional who is committed to the organization; currently engaged in its activities; an effective spokesperson; a representative at all times; and in touch with both the needs of other AI professionals and the changes that the organization must help its professionals to meet.”

Click here for the full press release.


2016 Election Results

Click for election results and contact information for those elected.

First Quarter BOD Meeting and General Membership Meeting

When:  March 12, 2019

Where:  Topgolf Fishers

Register today for first quarter meetings, lunch and three hours of game time at Topgolf!  Everyone can play-no golf experience required. Learn more about Topgolf here.

Click here to register!

• 11:00AM to 12:15PM – Board Meeting in Main Level Signature Room East
• 12:15PM to 12:30PM – Registration in Signature Room East
• 12:30PM – Buffet opens & General Membership Luncheon Meeting starts
• 1:30PM to 4:30PM – TopGolf Bays
• 2:00PM – Buffet ends

 


2018  Hoosier State Chapter Election Results

Thank you to everyone who participated. Congratulations to those elected!

Click for election results and contact information 


 

New AI Video:  What Was Your Most Unusual Valuation Assignment?

In the Appraisal Institute’s latest video, three Designated Members describe unusual assignments they’ve encountered in their work.

http://blog.appraisalinstitute.org/appraisal-institute-professionals-share-their-most-unusual-valuation-assignments/ 

 


Appraisal Institute Leads 34 Groups in Advancing Changes to Bank Regulation Bill

CHICAGO (March 13, 2018) – The nation’s largest professional association of real estate appraisers today led nearly three dozen valuation organizations in applauding revisions to a bipartisan Senate bill that would roll back many post-financial-crisis banking rules found in the Dodd-Frank Act.  Read the full News Release by clicking here.

 


2017  Hoosier State Chapter Election Results

Thank you to everyone who participated. Congratulations to those elected!

Click for election results and contact information 

 

 


Millennials Driving Multifamily Sector Boom: Valuation Magazine

 CHICAGO (March 21, 2017) – Millennials have postponed home buying and are now in their peak renting years, creating a demand for multifamily properties that has pushed the sector to record-growth levels with no sign of slowing, according to an article published in Valuation magazine’s first quarter 2017 issue.

Valuation magazine is a quarterly publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

Read “Strength in Numbers” in Valuation magazine’s first quarter 2017 issue.

Also in this issue:

“On the Right Track” focuses on California’s high-speed rail project, which is now under construction after decades of planning. The valuation and acquisition of the thousands of acres needed for the rail’s right of way can be an appraiser’s dream job or greatest challenge.

“Uncommon Ground” examines the opportunities the valuation of ground leases can offer appraisers. Their expertise can provide input for the initial lease, for the later lease renegotiation and for the resolution of disagreements through arbitration.

 


November Volunteer of Distinction Award

The late Thomas P. Morlan III, MAI, SREA, SRA was recognized as a Volunteer of Distinction in November.  Mr. Morlan was a dedicated and passionate appraiser.  He was very involved in the Hoosier State Chapter and will be missed.

Read the full article here.


New AI videos on YouTube featuring HSC Member!

Click here to watch Hoosier State Chapter member, Don R. “Randy” Scheidt, MAI, SRPA, SRA and others describe unique and challenging assignments!

You can see the related blog post on AI’s Opinions of Value blog

 

Click here to watch Hoosier State Chapter member, Don R. “Randy” Scheidt, MAI, SRPA, SRA describe how his Designations have helped advance his career.

Join Today!


Stephen S. Wagner, MAI, SRA, AI-GRS elected 2017 Appraisal Institute Vice President

The Hoosier State Chapter of the Appraisal Institute would like to congratulate one of its own members, Stephen S. Wagner, MAI, SRA, AI-GRS, of West Lafayette, Indiana.  Mr. Wagner was elected to serve as the 2017 National Vice President of the Appraisal Institute by its Board of Directors.  Mr. Wagner’s one-year term at the Appraisal Institute will begin Jan. 1, followed by one year each as president-elect, president and immediate past president.

Click here for the full press release.


Stephen S. Wagner, MAI, SRA, AI-GRS honored with President’s Award

The Hoosier State Chapter of the Appraisal Institute would like to congratulate one of its own members, Stephen S. Wagner, MAI, SRA, AI-GRS, of West Lafayette, Indiana.  He was awarded the President’s Award at the annual Appraisal Institute conference.

“The President’s Award is presented to an Appraisal Institute professional who is committed to the organization; currently engaged in its activities; an effective spokesperson; a representative at all times; and in touch with both the needs of other AI professionals and the changes that the organization must help its professionals to meet.”

Click here for the full press release.


2016 Election Results

Click for election results and contact information for those elected.

2019 Meeting Dates

 

2nd Quarter Meetings  
Tuesday, May 14, 2019 at Indianapolis Motor Speedway

Join us for a great day at the track!  Sign up here

10:30-11:45AM Board Meeting at IMS in Gasoline Alley Suite 525
12:15PM Box Lunch in Gasoline Alley Suite 525
12:30PM Brief General Membership Meeting

The track gates open at 10:00AM, but Gasoline Alley Suite #525 will not open for the General Membership Meeting until 12:00 Noon. Once open, guests are welcome to use the Suite until 5:30PM, and stay at the Track until it closes at 6:00PM.

3rd Quarter Meetings and Golf Outing
Monday, August 19, 2019 at Garrison Conference Center and The Fort Golf Course

__________________________________________________________________

See Meetings and Events page for more details!

2019 Hoosier State Chapter President and
2019 Appraisal Institute National President

http://www.airelief-foundation.org/

Click here to visit the AI Relief Foundation website to request assistance or donate.