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LOCATION: Red Lion Hotel4040 Quebec Street, Denver, CO
SCHEDULE: 3:30 p.m.–4 p.m., Registration4 p.m.–6 p.m.,
Highest & Best Use Analysis – Value of Utilizing Land Planning
6 p.m.– 7 p.m., Cocktails 7 p.m.– 9 p.m., Dinner, Chapter
Meeting, and Seminar SpeakersColorado Chapter Member Meeting –
Election of Members for the Nominating Committee and Region II Alternate Representatives
Presentation by Carl A. Ashford, SKLD Information Services
FEE: Seminar OnlyMembers Appraisal Institute: $15.00Non-members: $50.00
Seminar and DinnerMembers Appraisal Institute: $25.00 Non-Members: $75.00
Dinner 0nly — Members, $15.00Non-Members, Guests $25.00
CONTINUING Appraisal Institute - 3 hours including EDUCATION: dinner – 2 hours – seminar only
State of Colorado - 3 hours including dinner – 2 hours – seminar only
SPEAKERS: Richard B. Chase, MAI, Moderator Kent Bagley, Bagley Development
ConsultantsKen Puncerelli, Land Architects
TOPICS: Expert Witness Assistance Relative to Highest and Best Use Analysis
Land Planning Issues – the importance of design in developing communities
QUESTIONS: Call 303.691.0487 (outside Denver – 1.800.571.0086)web site: www.colo-ai.org
PLEASE NOTE: This program was developed by theColorado Chapter who is solelyresponsible for the contents.
REGISTRATION: See Page 8 for Registration Form orgo to our web site: www.colo-ai.org
AppraisalInstitute®
Professionals ProvidingReal Estate Solutions
Editor: Steven D. Clauson, MAI www.colo-ai.org Publisher: Carol Brooks
Volume 16, No. 2 — March, 2006
COLORADO CHAPTER APPRAISAL NEWS
2006 Officers and Directors . . . . . . . . . . . 2Advertising Policy . . . . . . . . . . . . . . . . . . 2Colo. Chapter’s 2006 Region II
Representatives . . . . . . . . . . . . . . . . . . 2Residential Associates . . . . . . . . . . . . . . 2Welcome . . . . . . . . . . . . . . . . . . . . . . . . . 2
PAID ADVERTISEMENT . . . . . . . . . . . . . . 2President’s Corner . . . . . . . . . . . . . . . . . . . 3Chapter Library . . . . . . . . . . . . . . . . . . . . . 3Colorado Chapter’s 16th Annual
Installation Banquet . . . . . . . . . . . . . 4–5They Went That-A-Way . . . . . . . . . . . . . . . 5
Editorial Ramblings . . . . . . . . . . . . . . . . . . 6State of Colorado Memorandum . . . . . . . 6Kelo in Colorado? . . . . . . . . . . . . . . . . . . . . 7Mortgage Fraud Seminar . . . . . . . . . . . . . 8Registration Form. . . . . . . . . . . . . . . . . . 8
IN THIS ISSUE:
BOARD OF DIRECTORS MEETINGThursday, April 6, 2006, 1:30 p.m. – 3:30 pm., Red Lion Hotel — All Members Welcome
THURSDAY, APRIL 6, 2006Colorado Chapter of the Appraisal Institute Presents
WHAT IS THE VALUE OF LAND PLANNING FOR REAL ESTATE APPRAISERS
RESIDENTIAL AND COMMERCIAL?
Residential Associates"Advanced Residential Form and Narrative ReportWriting" (C-500) will be retired in May, 2006 andreplaced with a series of other courses/exams. Pleaseplan to register for this course that the Chapter is offer-ing May 1-6, 2006. Visit www.colo-ai.org for completeinformation and to register online.
Page 2
PRESIDENT:Harold S. McCloud, MAIAurora. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 720.747.4710
VICE PRESIDENT:Claudia D. Klein, SRAIColorado Springs. . . . . . . . . . . . . . . . . . . . . . . . . . . . 719.282.3355
SECRETARY/TREASURER:Matthew E. George, SRACentennial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.721.7007
DIRECTORS:Arthur R. Alarcon, SRAEnglewood . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 720.945.4645Lori M. Elliott, MAISteamboat Springs. . . . . . . . . . . . . . . . . . . . . . . . . . . 970.879.1472Laura A. Hansen, SRAEnglewood . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.761.5113M. Jay Kramer, MAIAurora. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.757.9114Burton S. Lee, MAIBoulder. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.443.9600x105Doug Nitzkorski, MAIEnglewood . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.789.1515Randy R. Pierzina, SRALittleton . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.932.2362Wm. Michael Rinner, MAIEnglewood . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.662.0155Martin W. Ward, MAI, SRABoulder. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.443.9600x121
PAST PRESIDENT:Richard G. Stahl, MAI, SRACentennial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303.858.8880x12
2006 OFFICERS AND DIRECTORSColorado Chapter of the Appraisal Institute
Advertising Policy1. Advertisements must be camera-ready.2. Advertisements must represent closely-related businesses or
services to the real estate appraisal field.3. All advertisements submitted for publication are subject to
the Editor and Publisher’s approval.4. Appeals for rejections will be submitted to the Board of
Directors and their decisions are final.5. Fees are as follows:
Member Non-Member
Full Page 7" x 10" $165 $175Half Page 7" x 5" or 33⁄4" x 10" $ 90 $100Quarter Page 31⁄2" x 41⁄2" $ 50 $ 601/8 Page (Bus. Card size)
31⁄2" x 2" $ 30 $ 40
Colorado Chapter does not endorse any product or serviceadvertised in this newsletter.Send camera-ready copy and check to:
Appraisal Institute, 1540 S. Holly, #5, Denver, CO 80222
If you have questions, please call 303-691-0487Outside Denver metro area 1-800-571-0086
www.colo-ai.org
One-Year Term Matthew E. George, SRA, DenverJ. Virginia Messick, MAI, DenverJames R. Park, SRA, Aurora
Two Year Term Claudia D. Klein, SRA, Colorado SpringsRichard C. Laraia, Castle RockBret R. Poole, MAI, Denver
Alternate: John (Jack) W. Nisley, MAI, Grand Junction
COLORADO CHAPTER’S 2006 REGION II REPRESENTATIVES
PAID ADVERTISEMENT
Page 1
As a reminder, the Real Estate Perspective newsletter includes three components; this introductory section, a brief
analysis of events and trends in a segment of the Denver real estate market and the past month's Real Estate Perspec-
tive database entries.
For our market analysis, each month we highlight a particular geographic area or market segment, focusing on the entire
metro area only on a quarterly basis. This month we focus on the pipeline of apartment development activity and it’s
prospects in the future. If you wish to review an earlier month's analysis, just log on to the website and go to "Real Es-
tate Perspective Newsletters".
We also wanted to remind you about our ‘Market Maker’ survey, which is now available in the subscriber area on the
products page. The survey, conducted in cooperation with Delta Associates, brings together the knowledge and insight
of over 70 of Denver’s top professionals in the real estate industry.
Also available on the products page is our 2002 Apartment Expense report, a compilation of apartment expense data
from the entire metro area.
To access either of these products, just go to the homepage (www.jres.com) and enter your username and password
into the subscriber login, then select the particular product you would like to view from the product page. Both of these
documents are in PDF format, if you need to download the Adobe Acrobat Reader you can do so by clicking on the ‘Get
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One final note, if you are ever in need of changing your subscriber information, or if you need any other help, just send
and email to support@ jres.com. Please note that our subscriber newsletters are sent automatically, and replying to
them for anything other that unsubscribe requests is not effective
As always, we welcome your comments. Just go to www.jres.com and click on the "Comments" button.
Thanks again for subscribing!
February 2003
The R ae l Es at et Pe psr e vitc e News and Analysis about the
Denver Metropolitan Real Estate Market
Prepared by Eric Karnes
Copyright © 2000—2003, James Real Estate Services, Inc
The Pipeline Empties
One of the immutable rules of economics is the law of supply and demand. Nowhere are the effects of that law more in
evidence than in the current state of the Denver apartment market. The application is quite clear; during most of the
1990s a vibrant local economy generated demand by encouraging people to move to Denver and rent apartments.
Strong demand reduced the supply of vacant apartments, causing rental rates to rise. Developers and investors, ever
opportunists in the best sense of the word, saw low vacancy rates and increasing rents and rushed to build new apart-
ments. (Continued on page 2)
M revneD—sisylanA tekra
3002 yraurbeF
oitcudortnI n
James Real Estate Services, Inc.
A weekly e-mail update ofpublished real estate andeconomic information inthe Denver metro area.
Save time and be sure youknow your market!
James Real Estate Services reviews daily, neighborhoodand industry newspapers and magazines, governmentwebsites and industry newsletters. Our staff condenses realestate and economic articles and events into one-paragraphsummaries for distribution to subscribers by weekly e-mail.Each article is accompanied by an internet link to its sourceif the article is available at a source website. Each summaryis also added to a database of article summaries compliedsince 2001, which may be searched by property type, topic,date, location (zip code) or source.
See a sample of Real Estate Perspective and other JRESproducts at:
www.jres.com
JAMES REAL ESTATE SERVICES, INC.Real Estate Decision Support
303.388.1100
GENERAL ASSOCIATES
Melinda M SchminkeArnie Butler & Company300 Main StreetGrand Junction, CO 81501Phone: 970.241.2716Fax: 970.241.5653 e-mail: [email protected]
Tanya SnyderIntegra Realty Resources2000 S. Colo. Blvd., Ste 10800Denver, CO 80222Phone: 303.300.1202Fax: 303.300.3789e-mail: [email protected]
RESIDENTIAL ASSOCIATES
Cathy Miles2401 Creekwood DrFort Collins, CO 80525Phone: 970.221.1086e-mail: [email protected]
Paul ReddyHigh As Hell Appraisals3805 S. Syracuse WayDenver, CO 80237Phone: 303.911.4444e-mail: [email protected]
At the September President’s meeting in Chicago sev-eral issues were presented that the Chapter should beaware of. First, the Problem; beginning January 1,2008, new educational standards will be implementedper the AQB. The good news is that AI has completed 5of the 18 courses toward the 2008 target date and sev-eral more will be completed shortly, well ahead of thecurve. The bad news is that these new requirementsraise the bar substantially at all levels to obtain anappraisal license. The net effect is expected to greatlydiminish the number of new people taking thesecourses. Translation; National expects a substantialdecrease in educational revenue when the new educa-tional requirements take affect in January 1, 2008. Thedrop in educational revenue is projected to have a sub-stantial negative impact on National’s cash flow. AndYES, it has to be made-up somehow by someone.
The Facts: to prepare for 2008, AI has considered therisk issues of membership growth and retention, rev-enues and operating costs and possibly joining withother organizations to achieve some economies ofscale. Assuming some form of shared expenses, thesize of the other organizations is not sufficient to sup-port the education arm of AI. Under AI’s currentbudget, a goal of a 30% market share of all educationalofferings is required to break even. At present, AImembers account for 20% of the total market, thoughthe educational capture rate from members is approx-imately 35%. Education is dues supported, though theshortfall is less than 10%. As market share increaseshowever, dues support decreases. If market share isachieved education will be a positive income source.
The solution: to achieve thisgoal, AI will implement the 717project. In brief, potential AI mem-bership efficiencies equate to38,000 hours of classes annually or20% of market share with 30% as agoal. Market share is defined as all appraisers x annualeducation hours. The goal is to have AI members spendall their educational dollars with National. As an incen-tive, AI is increasing the 100 hour requirement percycle for members to 125 hours, but will also credit amember 1.25 hours for every hour of education takenfrom AI thus retaining the status quo. In concert withthis, on-line courses are being emphasized. Today,online education is approved in 45 states includingColorado. One additional proposal is to create AIUniversity, which would allow candidates to pay for theentire course curriculum with a certain time to com-plete. At the heart of the 717 project is the desire tominimize the impact of the pending changes in educa-tional requirements. For our part, the membershipneeds to purchase as much educational hours as possi-ble from AI. The more we purchase, the smaller thetotal market share AI needs to capture and the smallerthe impact to the organization. Also, by taking classesfrom other providers, you will increase the amount ofhours required and costs during your 5 year cycle.
As for the local chapter, we are planning the mostaggressive year for educational offerings to-date. Wewill cheerfully take your money in exchange for thebest courses & seminars available. Keep us in mind foryour future educational needs.
Page 3
PRESIDENT’S CORNERby Harold S. McCloud, MAI
By the way, all Members of the Appraisal Institute can call 312.335.4469 for a complimentary copy of the Codeof Professional Ethics and Standards of Professional Practice of the Appraisal Institute, which includes a com-plete copy of the current version of USPAP.
Remember the Chapter Library is a great FREE resourcefor appraisal work! If you haven’t used it, you will findthat it includes a number of useful appraisal data sourcesthat would otherwise cost you a lot. The library includesthe most recent editions of:• Dollars and Cents of Shopping Centers – Urban Land
Institute• Denver Metro Apartment Vacancy and Rent Survey• IREM Income and Expense Analysis – Conventional
Apartments• IREM Income and Expense Analysis Federally
Assisted Apartments• BOMA Experience Exchange Report – Office• NAIOP Industrial Income and Expense Report• Frederick Ross Company Market Reports – Retail,
Office and Industrial – Denver/Boulder• Home Builders Association Report – Building permits• Dollars and Cents of Multifamily Housing – Denver
and Colorado Springs• NEW – Trends in the Hotel Industry – 2005 Edition
Come to the Chapter office to look these over at your firstopportunity. You will find them very useful for appraisalwork. The Chapter can even offer use of the Chaptercopier at no charge as well. Of course, if you would likeany other resources added to the library, please contactthe office.
We have found one resource (actually three) that res-idential appraisers will find useful. The following web-sites include access to databases of contacts for HomeOwners Associations so you can find out monthly dues,reserves, etc. They were compiled by two title companiesand a brokerage.
http://www.realestatecolorado.net/denver-hoas/index.html
http://www.firstamheritage.com/Hoas/heritage_hoasearch.asp
http://www.stgco.com/hoa/hoaview/hoasearch.asp
CHAPTER LIBRARY
Page 4
Photographer: Diane Shannon
Richard C. Mosier, MAI, National Director, setthe tone as Master of Ceremonies.
Thomas J. Power, MAI, SRA had a powerful, moving,unique introduction to the Pledge of Allegiance.
Clifford L. Cryer, MAI, SRA installed the 2006 Officers and Directors. L to r – Incoming Directors – Doug Nitzkorski, MAI, Arthur R.Alarcon, SRA, not shown Randall R. Pierzina, SRA. Officers - Matthew E. George, SRA, Secretary/Treasurer; Claudia D. Klein, SRA,Vice President, Harold S. McCloud, MAI, President;
Donald E. Boyson, MAI, SRA gave the following invocation.This prayer was read at Eugene Bowes’ funeral. Gene kept a copy of it in his wallet:
Heavenly Father,
Keep me from the habit of thinking I must say some-thing on every subject and on every occasion. Releaseme from craving to straighten out everybody’s affairs.Keep my mind free from the recital of endless details –give me wings to get to the point.
I ask for grace enough to listen to the tales of others’pains. Help me to endure them with patience. But sealmy own lips on my own aches and pains – they areincreasing, and my love of rehearsing them is becom-ing sweeter as the years go by.
Teach me the glorious lesson that occasionally it ispossible that I may be mistaken. Keep me reasonablysweet; I do not want to be a saint – some of them areso hard to live with – but a sour old person is one ofthe crowning works of the devil.
Give me the ability to see good things in unexpectedplaces, and talents in unexpected people. And giveme, O Lord, the grace to tell them so.
Make me thoughtful, but not moody; helpful, but notbossy. With my vast store of wisdom, it seems a pitynot to use it all, but Thou knowest, Lord, that I wanta few friends at the end.
COLORADO CHAPTER’S
16th ANNUAL
Page 5
Bonnie D. Roerig, MAI presented the very prestigious John E. Bohling, MAI MemorialDistinguished Service Award to Thomas J. Power, MAI, SRA for outstanding and selflessservice to the Appraisal Profession.
They Went That-A-Way
E-MAIL CHANGE
William R. Hopping, [email protected]
Louesa Maricle, [email protected]
Virginia Messick, [email protected]
Charles G. Wyman, [email protected]
BUSINESS CHANGE
Deane L. Davenport, MAI, SRABank of the West633 – 17th StreetDenver, CO 80202Phone: 303.202.5750Fax: 303.202.5784e-mail: deane.davenport@
bankofthewest.com
Janice N. Winkler, MAIUS BancorpDN-CO-BB2C918 17th St.Denvr, CO 80202Phone: 303.585.4814Fax: 303.585.4720e-mail: Janice.winkler@
usbank.com
RESIGNATIONS
Jeffry R. Enderle
INACTIVE MEMBER STATUS
David C. Nochols, MAI
TRANSFER INTO CHAPTER
Charles L. Duncan, SRPA, SRADuncan Company8358 Pebble Creek Way, #201Littleton, CO 80126Phone: 303.703.9423
Alan F. Simmons, SRPA, SRA, MAI2342 Elite TerraceColorado Springs, CO 80920Phone: 719.264.7901e-mail: [email protected]
Harold S. McCloud,MAI, 2006 presi-
dent shared hisgoals for the year.
Patrick A. Hallman, MAI received his certificate from Harold S. McCloud, MAI.
INSTALLATION BANQUET
“JUST OUTSIDE THE BELTWAY” –BREAKING NEWS ON 2006 USPAP
I recently attended a “USPAP and Legislative Update”seminar presented by the Washington, DCMetropolitan Area Chapter, Appraisal Institute held inVienna, VA (hence, “Just Outside The Beltway”). Thefeatured speakers were Gregory J. Accetta, MAI – 2006Chair of the Appraisal Foundation Appraisal StandardsBoard, and Bill Garber – Director of GovernmentAffairs, Appraisal Institute. The seminar was wellattended by chapter members due to the timely topics(and also the lure of a “free dinner”).
Those of us in attendance learned of the keychanges in USPAP and also learned of recent appraisalissues in Congress and in Federal Agencies. The fol-lowing was discussed and noted relative tothe 2006 Edition of USPAP:
• The 2006 Edition is being printed nowfor distribution and it will take effecton July 1, 2006
• The Appraisal Standards Board is mov-ing towards a two-year cycle for USPAP(i.e. – the next edition will most likelybe 2008).
• The Departure Rule is being DE-LETED
• The Scope of Work Rule is being CRE-ATED
• A new definition of Credible is added(essentially meaning “worthy ofbelief”)
• The identifiers of “Complete” and“Limited” are being DELETED
A significant amount of focus is nowbeing put on Scope of Work – the “Scope ofWork Rule” emphasizes the role of:
1. Problem Identification2. Scope of Work Determination3. Scope of Work Disclosure (in report)
The main point set forth by the new focusis that the scope of work decision drives thefull range of activities in the appraisal devel-opment process. It was noted that severalassignment elements come from the client:
• Client/Intended Users• Intended Use
• Type of value estimate and definition of value esti-mate
• Effective Date of Value• Assignment Conditions (i.e. – “short fuse”)
After the assignment elements are outlined, the nextstep is “Problem Identification”; and then followingProblem Identification, the Scope of Work can be setforth. It was also noted that the Scope of Work is thescope of research and analysis necessary to developcredible appraisal assignment results. There are twomeasures of credible assignment results:
1. Appraisal analysis and reporting meets or exceedsexpectations of parties who are regular users forsimilar assignments;
And
2. What an appraiser’s peers’ actions would be in per-forming a similar assignment.
One last question posed was how do we as experi-enced appraisers train incoming appraisers? How dowe train new appraisers as to: How to proceed; what todo next; and, lastly, how do you know when you aredone?
Page 6
EDITORIALRAMBLINGS
by Steven D. Clauson, MAI
I had just remembered that the date is 2006 not 2005when a deluge of e-mails hit my computer. No, it wasnot a virus in the typical sense. Rather, the virus isattacking the Colorado Legislature and anything oranyone having to do with “eminent domain”.
During the summer of 2005, the United StatesSupreme Court rendered the now famous Kelo v City ofNew London, Connecticut decision which upheld thepower of eminent domain in a broad sense. Not to beleft behind, lawmakers across the country are rushingto rid us of the perceived abuses of this long-standinggovernmental tool. Colorado is no exception.
So far in 2006, we have HB-1096, HB-1099, HB 1208,SB-078, and SB-169. During the initial days of the 2006state session, testimony was heard by the assigned com-mittees. A conclusion was reached that it was highlylikely that this is only the beginning of bills to comeforth in 2006. So, at that time, the committees “tabled”these bills awaiting all bills relating to “eminentdomain” to be presented. Then the committees willreconvene and consider these issues at one time. I amassured by those in charge that each bill will be pre-sented, testimony heard and votes completed on anindividual basis not as a package.
What are the issues and why should you care?HB-1096 attempts to prohibit the exercise of the power
of eminent domain by certain special districts untilthose districts have held at least two regular electionsfor board members and at least 200 electors have votedin each of two consecutive regular district elections.
HB-1099 opposes the Kelo decision and essentiallyprohibits the use of eminent domain by urban renewalauthorities by prohibiting the transfer of condemnedproperty to a third party. This bill has profound impactson urban renewal projects. Also included are discus-sions of the terms public use and blight.
HB-1208 requires, when private property has beentaken by condemnation that an additional and specialcompensation be awarded for the “violation of the prop-erty owner’s private property rights”. The bill requiresthat the property owner be awarded additional com-pensation (above and beyond the just compensation offair market value currently required by constitution andstatute) in an amount not less than 25% and not morethan 100% of the fair market value of the propertytaken. This compensation may be awarded in the solediscretion of the board of commissioners or members ofthe jury, as applicable, in accordance with Article 1 ofTitle 38 of the Colorado Revised Statutes. The bodyawarding the compensation is directed to consider anyunique or special nature of the property, the economicresources of the property owner, moving or otherexpenses incurred by the property owner, and actualdirect losses of property such as goodwill and lost prof-its (for business concerns).
Many of the items cited for additional compensationare already covered by other sources of compensation
in the current State statute. In addition, this bill faroverreaches the Takings clause of the Fifth Amendmentof the US Constitution and Section 15 of the State con-stitution.
SB-078 received the approval of the Senate (32-0)and Governor Owens in early 2006. This bill prohibits aprivate corporation formed for the purpose of con-structing a private toll road or toll highway from usingthe power of eminent domain to acquire rights of wayfor such toll road or toll highway. This bill is now in theHouse for vote.
SB-169 would eliminate “blight” as a condition per-mitting the formation of an urban renewal authority,the approval of an urban renewal plan, or the use ofeminent domain by an urban renewal authority. Thedefinition of “blight” just revised during the 2004 leg-islative session would be deleted from the statute. Allreferences to blight throughout the urban renewalstatute would also be deleted. In this bill, the determi-nation of whether a particular area is a “slum” areamust be determined on a parcel by parcel basis, ratherthan on an area-wide basis.
Hearing these bills are:
House State, Veterans & Military AffairsWeissman – Chairman - 303-866-2920Ragsdale – Vice Chair – 303-866-2843Cadman, T. Carroll. Coleman, Crane, Gallegos, Liston,
Lundberg, Schultheis, Todd
Senate State, Veterans & Military AffairsTupa – Chairman – 303-866-4872Groff – Vice Chair – 303-866-4864Fitz-Gerald, Johnson, Lamborn, R. May, Windels
Complete copies of these bills can be found atwww.leg.state.co.us. A wealth of knowledge and under-standing is available through the Colorado MunicipalLeague (Erin Goff and Sam Mamet – 303-831-6411,Herman Stockinger, (CDOT laison) – 303-757-9077 andJ. Evan Goulding and Mary Zuchegno, SDA (special dis-tricts) – 303-863-1733.
Special Invitation: From the Denver Chapter of theInternational Right of Way Association(IRWA)
March 14, 2006 (Tuesday evening)Doubletree Hotel – 3203 Quebec Street, Denver
(Stapleton area), CO6:00 pm (Social and Dinner - $23.00)RSVP 303-571-7799
Program: Robert Duncan and Don Ostrander“Latest Developments in Eminent Domain Law”
These issues are the Keywords for 2006. Stay in touchand make your opinions known to the appropriate peo-ple. In Connecticut, the home of Kelo, the governor hasstopped all eminent domain proceedings until the legis-lature can re-examine the law. Don’t sit back and letthis happen in Colorado.
Page 7
Kelo in Colorado?by Beverley S. Phillips, MAI, SRA
Overview: Seminar designed to inform all real-estate partic-ipants within Colorado with concerns and current practicesrelating to questionable real estate activity. The overall inten-tion of the session is to set up good lines of communicationbetween individuals active in all aspects of the real estatetransaction.
Location: Denver Merchandise Mart451 E. 58th Avenue, Suite 4270Denver, Colorado
Dates: May 4th and May 5th, 2006Registration: see registration form on the website:
www.ijhillappraisalservices.comPhone: 719-545-0893Fax: 719-545-1667
Sign-in: 8:00 amStart: 9:00 amLunch Break: 12:00 noonSeminar Ending: 5:00 pmCost: $65.00 includes lunchEight hours continuing education credit submitted forapproval to the Board of Real Estate Appraisers.
Your seat will be reserved when we receive the completedregistration form and a check for $65.00. We will not betaking reservations or giving refunds after 3:00 pm MSTon April 24th. No walk-ins will be admitted.
Please send payment to:I.J. Hill Appraisal Services503 N Main St., Suite 300Pueblo, CO 81003
Speakers and Topics:Dan Bradley, FBI, Senior Supervisory Resident Agent:
National, regional and local mortgage fraud issues. Stepsthe FBI is taking to counter mortgage fraud activity.
Jan Zavislan, The Deputy Attorney General For ConsumerProtection at the Colorado Attorney General’s Office:
The roll of the Attorney General’s mortgage, foreclosure,and fraud task force. Colorado Laws on mortgage lendingand mortgage broker registration currently under review.Types of mortgage complaints currently being received.
Jim Park, Senior Vice-President and Chief Appraiser forAurora Loan Service, a Lehman Brothers Company:
Impact on primary and secondary lenders resulting frommortgage fraud and steps they are taking to counter fraudand misrepresentation activity.
Lou Garone, Review Appraiser for Aurora Loan Services, aLehman Brothers Company and Chairperson of the ColoradoBoard of Real Estate Appraisers:
Appraiser Compliance with The Uniform Standards ofProfessional Appraisal Practice, State Statute regardingappraiser obligations, and the complaint procedure forappraisal related complaints for the State if Colorado.
David Berenbaum, Natl. Community Reinvestment CoalitionNational lobby group for real estate and accurate appraisals
B. Glenn Bartholomew, Colorado Mortgage Broker Assoc.Mandatory licensing of mortgage brokers in Colorado
Scott Storey, District Attorney for Jefferson CountyMortgage Fraud prosecutions within the county that havebeen successful
Page 8
ENROLLMENT Form — No Phone Reservations! Please What is the Value of Land Planning for Real Estate Appraisers
Residential and Commercial?Mail or Fax (303-757-0158) no later than April 3, 2006 to:
Appraisal Institute, 1540 South Holly Street, #5, Denver, CO 80222OR FAX (303.757.0158) this with your VISA or MasterCard number and expiration date
Name: _____________________________________________________________________Designation: _______________________
Company _____________________________________________________________________________________________________
Social Security Number: ________________________________________________________________________________________
Work Phone: (_________) ________________________E-Mail Address: ________________________________________________
Address: _______________________________________City, State, Zip:_________________________________________________
VISA � MasterCard � Note: The Chapter does not accept American Express
Credit Card Number: _______________________________________________________________________________________
Name on Card:_____________________________________________________________ Expiration Date: ________________Please type or print
Signature: ________________________________________________________________________________________________
Questions: 303.691.0487, Outside Denver Area: 1.800.571.0086, e-mail: [email protected]
AppraisalInstitute®
Professionals ProvidingReal Estate Solutions
Schedule: Registration: .....3:30pm – 4:00pmSeminar:...........4:00pm – 6:00pmCocktails:..........6:00pm – 7:00pmDinner: .............7:00pm – 9:00pm
Continuing Education:Appraisal Institute and State of ColoradoIncluding Dinner: ..............3 HoursSeminar Only: ..................2 Hours
No Continuing Education for dinner speaker only
Fee: Seminar Only
Members: $15.00 ___________Non-Members: $50.00 ___________
Seminar and Dinner:
Members: $25.00 ___________Non-Members: $75.00 ___________
Dinner Onlymembers, $15.00 ___________non-members, and guests $25.00 ___________
Total $__________
Due to concerns raised in the real estate industry and the alarming statistics on foreclosures, mortgage fraud has become an issue too serious toignore. I.J. Hill Appraisal Services is hosting a second Mortgage Fraud Seminar to open lines of communication between active participants in the realestate industry. The first was held in November in Pueblo with 500 participants in attendance. The response was astounding for the SouthernColorado area. We would like to extend an invitation to you as we will be coming to the Denver area in May. For more information see our website atwww.ijhillappraisalservices.com for times, location, and registration information. Contact Susan DeHerrera at 719.545.0893 if you have questions.
Mortgage Fraud Seminarby Ivor J. Hill
