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Refresher of Terminology Changes
Tuesday, January 25, 2022 in Education
This is a reminder of the terminology changes made in 2020 and 2021 that affect your appraisal reports. Knowing how busy we all are, I am sure that many of you read the ISA Education newsletter posts regarding these changes in terminology to align with USPAP terms and definitions and then put them aside. Now that the New Year has arrived, you are updating your appraisal report templates and looking for this information...
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Understanding the 2022-2023 7-Hour USPAP Course
Tuesday, January 25, 2022 in Education
The new 2022-2023 7-Hour Uniform Standard of Professional Appraisal Practice (USPAP) course is a bit different this year. Normally, the course reflects changes in the current edition of USPAP. But since the 2020-2021 edition of USPAP has been extended to 2022, the current course gives instructors the opportunity to present some broad topics that impact the credibility of the appraisal profession.
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Car Appraisals for the Generalist
Wednesday, November 17, 2021 in Education
As a generalist appraiser preparing appraisals for estate functions or dissolution of marriage, you will eventually encounter a client asking you to include an automobile in your report. Should you oblige? Are you qualified to appraise a car, pick-up truck, or even a motorcycle?
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Embracing the Virtual Learning Environment
Monday, August 23, 2021 in Education
Last year or so, when life was normal or considered normal, I would never think of meeting a client, fellow appraisers, attending a conference, or taking a class online only. But life as we knew it has forever changed. Amazingly so, to my surprise, I have begun to embrace this way of doing everyday business.
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Tips for Determining Scrap and/or Salvage Value
Monday, July 26, 2021 in News, Education
An easy way to distinguish between scrap and salvage is that scrap is generally used for metals. Salvage is generally used for everything else, including fine art. I will first discuss salvage value, including where an appraiser might look for comparable sales, and then move on to how an appraiser might calculate scrap value.
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How to Become a Connoisseur
Tuesday, May 18, 2021 in Education
To become a connoisseur, curiosity is required. One must dedicate time and energy to asking questions, train her/his eyes to observe detail, and learn to compare and contrast objects so as to build up the experience necessary to make decisions about quality.
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The Importance of Due Diligence and Due Care in Appraising
Wednesday, April 21, 2021 in Education
My favorite part of USPAP comes directly from the Competency Rule: Perfection is impossible to attain, and competence does not require perfection. However, an appraiser must not render appraisal services in a careless or negligent manner. This Rule requires an appraiser to use due diligence and due care. (USPAP 2020-2021, lines 301-303)
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Using Sales After the Effective Date as USPAP Comparables
Tuesday, February 23, 2021 in Education
One of the best things about teaching Uniform Standards of Professional Appraisal Practice (USPAP) classes for ISA is that you never know what questions students will ask. At the ISA's January 13 to 14 7-Hour USPAP class an appraiser asked when it's okay to use a sale that occurred after the effective date of an appraisal as a comparable?
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Do I Qualify for the ISA Specialty and Advanced Studies (SAS) Pathway?
Friday, December 11, 2020 in News, Education
Do you qualify for the SAS track to achieve Accredited Member (ISA AM) status?
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Ethics in Review
Tuesday, October 13, 2020 in News, Education
Reviewing some basic ethics points is always a good idea. For instance, did you know that ISA recently updated its Ethics Code and Ethics Disciplinary Procedures? Do you know what type of behavior ISA regulates (and does not regulate)? What are some of the most common ethics complaints and missteps?
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