The Appraisal Foundation – the nation’s foremost authority on the valuation profession, headquartered in Washington, D.C. – will host an informational seminar on Wednesday, April 26, 2017, titled Personal Property Appraisals: The Importance of Qualifications and Standards, from 5 PM to 8 PM ET, in the galleries of Freeman’s Auctions & Appraisals.
The purpose of the seminar is to make clear the new standards for the appraisal profession. These have changed in recent years and can directly impact the end users of appraisers – the general public. For that reason, the event is free and open to the general public. Wine and cheese will be served. Freeman’s, co-host of the seminar, is located at 1808 Chestnut Street in Philadelphia.
A panel discussion will feature Elizabeth von Habsburg, Managing Director of the Winston Art Group and a past chair on the Board of Trustees of The Appraisal Foundation; Leila Dunbar, President of Leila Dunbar Appraisals and Consulting and a member on the Board of Trustees, The Appraisal Foundation; and David S. Bunton, the President of The Appraisal Foundation.
Anyone interested in attending should contact Matt Wilcox of Freeman’s by Saturday, April 22, either by phone, at (215) 385-0726 or via email at firstname.lastname@example.org.
The Appraisal Foundation sets standards and qualifications for real estate appraisers, as authorized by Congress. It provides guidance on recognized valuation methods and techniques for valuation professionals. This work advances the profession by ensuring that appraisals are independent, consistent and objective. The Foundation is directed by a Board of Trustees.
The Foundation also ensures that the profession adapts to changing circumstances and continues to move forward through the work of its three independent boards: the Appraisal Practices Board (APB), Appraiser Qualifications Board (AQB), and the Appraisal Standards Board (ASB).
In 1986, nine leading professional appraisal organizations in the U.S. and Canada formed an Ad Hoc Committee on the Uniform Standards of Professional Appraisal Practice in response to the savings and loan crisis. In 1987 the Committee established the Foundation to implement USPAP as the generally accepted set of appraisal standards in the U.S. These organizations recognized the importance of ensuring that appraisals are based upon established and recognized standards.
In 1989, Congress enacted the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), which authorized the Foundation as the source of appraisal standards and qualifications. The Foundation is not a membership organization but rather is composed of other organizations. Today, several Sponsoring Organizations and Advisory Councils, over eighty organizations, corporations and government agencies are affiliated with the Foundation.