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June 30, 2006

Global valuation standards coming soon

The Appraisal Foundation and the International Valuations Standards Committee (IVSC) are working together to create global valuation standards. They have issued a paper known as the Madison Agreement which outlines the intentions of these two groups. The IVSC represents over 50 countries and was founded in 1981.

June 16, 2006

USPAP changes effective July 1, 2006

The Appraisal Foundation is advising that changes to the “Universal Standards of Professional Practice” (USPAP) will take effect on July 1, 2006. Some of the revisions are noted on their home page. Additionally, the Appraisal Foundation is offering a free download of its 2006 USPAP & Scope of Work brochure in PDF format at their website.

June 12, 2006

New Orleans home prices rise 10%

Reuters reports that not only have New Orleans housing prices increased but apartment rentals have jumped significantly, especially in the Mid-City and Lakefront areas. Hurricane Katrina damaged and destroyed huge portions of New Orleans resulting in a housing shortage. University of New Orleans Professor Ivan Miestchovich suggested it would be another year before New Orleans' economy would stabilize.

June 06, 2006

Appraising a Chicago landmark

Is Chicago’s landmark Tribune Tower up for sale? Speculation was fueled by the Tribune's plans to buy back 25% of its stock. Among the Tribune's assets are the Chicago Cubs and the WGN television station. Estimates of the building's value, with its desirable heart of downtown Chicago location, could be upwards of $300 per square foot, and even more if a developer turns the building into condos.

June 01, 2006

Welcome to the new "Power Tools for Appraisers"!

Welcome to the new "Power Tools for Appraisers"! NAR's Information Central will continue to provide information and resources for real estate appraisers on this site, with new features such as reader comments, easier-to-use archives and RSS, and more. Previous posts from the Appraiser Power Tools (May 2006 and earlier) are available on Realtor.org at http://www.realtor.org/vlibrary.nsf/PubPages/appraisepp.

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Power Tools for Appraisers, from NAR's Information Central, provides information on research studies, websites, books, news, tips, and other resources for real estate appraisal professionals.
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