June 2015 Chapter Newsletter - Sacramento Sierra Chapter of the

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June 2015
Sacramento Sierra Chapter
Appraisal News & Review
Inside this issue:
President’s
Letter…………..1 & 10
Upcoming Education...2
New Chapter
Members……………..3
New Designations……3
BREA Licensing
Stats………………….3
Odd Inspection
Encounters…………...3
Where are all the
Orange Trees in
Orangevale…………...4
LDAC Recap……...…5
Consider Service on the
Appraisal Review
Panel……………….6-7
2015 Education………7
In Memoriam………..8
The Governor’s
Mansion that
Never Was………8 & 9
Habitat for
Humanity...…………11
Board of Directors….13
President’s Letter
Is 2015 really half over? Like most of you I
find “when-I-have-time” time to be increasingly elusive. But despite the blessing of
ample appraisal work, we need to purposely
balance things by making some time for
family, recreation, or just relaxing. Our
business is so cyclical—aren’t we appraisers always complaining about either being
too busy or not busy enough?
Your chapter volunteers have been busy
working to provide ongoing educational
offerings and other events for you. And
we’d also like to offer more of the Advanced Education classes for candidates on
their way to being designated; please let us
know which AE courses you’ll need over
the next year or two—we will provide if
there is sufficient interest. It sure beats the
2015 President John Ashworth,
time and expense of traveling when you can
SRA
get your classes here in the area. We have
several new Education Committee members and they will be exploring
all possibilities. I’d like to thank them and the other officers and committee members for their dedication to the chapter, and of course Jenny, our
Executive Director, who has been the constant (five years now!) through
the turnover of volunteers.
Following are some highlights of what’s happening, what’s to come, and
some other info:
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Our chapter now has 119 designated members (94 MAI, 24 SRA
and one SRPA) and growing. The number of newly designated
members has increased dramatically over the last couple years.
Candidates are motivated when the clock is ticking—you now
must get your designation within four years-good work!
The Economic Forecast in January featured fantastic presentations by three top economists and market specialists, followed by
a Sacramento Kings owner talking about the new downtown
arena. There was good information, a good lunch, a nice venue,
and some free NBA collectibles!
Continued to page 10...
Sacramento Sierra Chapter Newsletter June 2015
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September 10th: 2015 Summer Conference-Sacramento
Upcoming Education
visit www.sac-i.org for more
Morning Session: Peter Christensen, General Counsel
information
of LIA Administrators & Insurance Services
Liability Issues for Appraisers Performing Litigation and Other Non-Lending Work
Most current discussion of appraiser liability focuses on lawsuits and claims relating to appraisals performed for mortgage lending. However, appraisal assignments for litigation and other non-lending purposes actually present a greater liability risk to the appraiser on a per assignment basis. This seminar
addresses the specific liability risks associated with appraisals for litigation, divorce, estate, tax, conservation easements and other non-lending purposes. It also addresses liability considerations for review
appraisers. Actual lawsuits against appraisers form the foundation of the seminar.
Afternoon session: George Dell, MAI, SRA, ASA, CDEI
Introduction to Technical Analysis: Data Science Using on-line data sources
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The power of technology-Data science, critical
thinking, and valuation Spreadsheet basics
Cells, columns, rows, freeze panes, protect
Formatting, sorting, referencing, formulas, wizard
Variables and Data Levels
Categorical and measure (continuous), download parameters
The market segment data set
Statistics—Traditional methods vs. data science tools
Simple regression – benefits, conditionals, and interpretation
September 21-25th: Review Case Studies-General (Stephanie Coleman, MAI, SRA)
Outline: In Review Case Studies—General, you will put into practice the concepts in Review Theory—
General. Focusing on three case studies that present the challenges reviewers face every day in review
assignments, you will apply the review process by developing review opinions of completeness, accuracy, adequacy, relevance, appropriateness, and credibility specific to another appraiser’s work. By preparing written review reports, you will gain valuable confidence in the application of review techniques.
Come prepared to be challenged. This course will be beneficial for appraisers or other real estate professionals who regularly work with appraisals and reviews.
September 29th: Bowling & Chapter Event (Strikes Bowling Center, Rocklin)
October 22nd-23rd: 2015 Lake Tahoe Conference (Harrah’s Lake Tahoe)
Day 1 Featuring: Rebecca R. A. Smith, J.D., Downey Brand LLP
Guiding principles/categories of water interests
Overview of California water right system and history
State Regulatory Oversight/recent drought actions and curtailments
Quantifying and proving a water right
Day 2 Featuring: Stephen Roach, MAI, SRA, AI-GRS, Jones, Roach & Caringella, Inc. & Bruce
Beach, J.D., Best Best & Krieger LLP
California Case Studies & Condemnation Law & Top 10 Ways to Lose a Case
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Welcome New Chapter Members
Conner McDonald
Carrie Ozanich
John Dingeman
David Schwenger
Michael John Dolim
Christina Morlatt
Congratulations to our newly
Designated Members in 2015!!
Marlene Dresbach, MAI
Blake Lindsay, MAI
Kevin Ziegenmeyer, MAI
Odd Inspection Encounters…
as told by Craig Strawmier, MAI
A few years back I
appraised a psychiatric facility. During the inspection
one individual
thought my camera
case was a gun holster as they asked
“Is that a gun holster? Are you guys
carrying guns?”
We had an escort that was taking us around the
buildings and he just told the person not to bother
us, basically. Then moving to the outside areas, a
person was smoking a cigarette enjoying the day.
As we walked by they took a puff so long and hard
I thought they might inhale the cigarette, as they
exhaled they turned to me and yelled with conviction and a scowl on
their face “I’m not
smoking!” then another
puff, “I’m not smoking!” Totally catching
me off guard I did not
know what to say or do,
so like a scared little
boy I put my head down
and walked past. One of
the more interesting
inspections I have done
and would do it again.
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“Where is the mission on Mission Avenue?” –
Where are all the Orange
Inquisitive Appraisal Researcher
Trees in Orangevale?
When appraising in and around the Sacramento area,
By Stephen Rosenthal, MAI
do you ever stop to consider what might have been
occurring on your appraised property 50, or 100, or even 150 years ago? Consider the interesting history
of Orange Vale (the original spelling), for instance, which was laid out by investors on the San Juan
(Mexican) Land Grant in 1857, just nine years after California became a state. The McClatchy brothers
(publishers of the Sacramento Bee), and half-brothers and Jewish polish immigrants David Lubin and
Harris Weinstock (remember Weinstocks, once one of the largest department store chains in western
United States?) were the original investors.
Lubin and Weinstock envisioned a Jewish Citrus Colony for refugees from the vicious pogroms in Russian and Poland. Their Orange Vale Colonization Company made land available in increments of 10
acres for $1,250, plus an additional $250 if the settler wanted his land cleared and planted. Fortunately,
water was available from ditches dug for earlier placer mining on Mississippi Bar. The focus was on
beginning orange groves, but grapes and alfalfa were also planted. Indeed, at that time developers were
touting Northern California as an ideal citrus growing area, and groves were planted in Fair Oaks, Carmichael, Citrus Heights, and other places.
The number of Jewish immigrants to invest in Orange Vale proved to be disappointing to the developers, and eventually non-Jews were allowed to buy into the development. The overall population remained small, and the colony was hurt by the severe depression of the 1890s.
By 1895 the first oranges were ready for market, and by 1913, oranges were growing on 2,000 acres.
The colony enjoyed modest prosperity until 1932, when northern California was hit by the “big freeze.”
The temperature dropped to 17 degrees – at that time the lowest ever recorded in the lower Sacramento
Valley – and the majority of the orange groves in the region were killed off. By 1940, Orangevale had
only 463 acres in oranges. The area gradually became increasingly urban after that. The occasional orange tree you will see along the community’s byways, however, will remind one of the area’s interesting history. – Stephen Rosenthal, MAI
(Based on material from CSUS California history lectures and internet sources.)
Orange Vale and Orange Groves, Circa 1900
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The Appraisal Institute’s Leadership Development
and Advisory Council (LDAC) 2015 met May 20By Steve Parent, MAI, SRA, AI-GRS
22, 2015 in Washington D.C. This event was attended by approximately 100 leaders representing chapters from throughout the
United States as well as AI Officers and staff.
LDAC Recap
Discussion groups focused on strategies to address challenges our
industry faces such as: shifting demographics, dwindling membership
base, attracting, developing and retaining employees. Besides the
discussion groups, we met with and lobbied Senate and House members. The Senate lobbying campaign urged Senators to sign on to a
circulating letter to maintain the minimum threshold for residential
appraisals at $250,000. The House effort asked the member to schedule a hearing on appraisal regulation as part of the House Committee
on Financial Services oversight plan. Feedback from the Hill was
positive and these efforts continue.
The experience, knowledge, and relationships that are developed by meeting peers and leaders from
across the country are invaluable whether you are part of a firm or own your own business. Our chapter
has offered to sponsor attendance for two members in 2016. I have been fortunate enough to go in 2014
and 2015 and I plan to attend in 2016. I personally thank the Sacramento Sierra Board, Officers, and all
members for providing me with the opportunity to represent our chapter and all of you. If you are interested in attending LDAC 2016, please contact Steve Parent s.parent@benderrosenthal.com or
916-919-7262.
Regards,
Steve
Steve Parent, MAI,
SRA, AI-GRS, SR/WA,
PMP
Director
Bender Rosenthal, Inc.
4400 Auburn Blvd.,
Ste. 102
Sacramento, CA 95841
Looking
Phone: (916) 978-4900
sharp Steve!!!
Cell: (916) 919-7262
Fax: (916) 978-4904
s.parent@benderrosenthal.com
www.benderrosenthal.com
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Have you ever
wondered how
articles get seBy Stephen Rosenthal, MAI
lected for the Appraisal Journal?
Let me give you a little background, but first, keep in mind these facts:
The Appraisal Institute has approximately 21,000 members and affiliates. Of those, 5,228 (as currently listed on the web-site), or just under
25%, are located in the state of California.
The editorial structure of the Appraisal Journal is headed by the Editor-in-Chief, Stephen T. Crosson, MAI, SRA, of Dallas, Texas. I believe he is a practicing appraiser. The Managing Editor is Nancy K.
Bannon of the Appraisal Institute Staff. There is a nine-member Editorial Board assisting the Editor-in-Chief; only one member, George
Dell, MAI, SRA, is from California (San Diego). The Editorial Board members also review articles for
possible publication.
There also is a Review Panel that exists for the purpose of evaluating articles for possible publication, as the Board members cannot do it all. This panel currently has 22 members, all of whom
are MAIs, a number of whom are also SRAs, and a few are
PhDs. Only one member is from California, and he is kind of an
old geezer who probably isn’t long for the job, and may not be
highly qualified, anyway.
Additionally there is an Academic Review Panel, whose members are called upon to read the more scholarly articles, among
other things. Currently there are 21 members, all of whom are
PhDs and university faculty members, and a number of whom
are MAIs and SRAs. None is from California.
The format for submitting articles is readily available on the Institute website, and occasionally is published in the Appraisal
Journal itself. Every month Editor Nancy emails a list of articles needing review to the Board and Review Panel members. A panel member can then indicate to her which article or articles he/she would be
willing to review, and she doles them out as needed – each article to several reviewers. This process
makes the article “peer reviewed.” One usually has about a month to review an article and submit a report on the results of the review utilizing a standard format. Among other matters, the reviewer indicates
“publish as is,” “send back to the author for possible modifications or corrections,” or “reject.” The reviewer also provides comments for the author and
Mr. Rosenthal also recommends and refers the
reader to the article “Appraisal Journal Panel Of- if necessary, private comments meant only for the
fers Insights into Authorship at AI Connect Meet- editor. If the author modifies the article based on
ing,” in the Notes and Issues section, Appraisal
reviewer comments,
Journal, Fall, 2012.
Consider Service on the
Appraisal Journal Review Panel
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the reviewer will review it a second time and update his/her recommendation. The Board makes the final publishing decisions.
I must say I have enjoyed the 10 years or more that I have served on the panel. One gets to review new
“takes” on appraisal matters, new theory, and occasionally some beautiful writing skills. The time requirement is not overwhelming – a few hours a month if you volunteer to review an article.
Personally, I have liked the articles from practicing appraisers the most, as they reflect real appraisal
situations and problems. The articles submitted from academics are often useful, but can be heavy going
at times.
Historically, California appraisers have played major roles in the Appraisal Institute, and in my opinion,
with 25% of the membership, they should still do so. I find it regrettable that there is so little California
representation in the Appraisal Journal hierarchy. (And by the way, there are only one or two women on
these panels and Board.) I suggest that our California appraisers should consider service on the Review
Panel. It is rewarding service, and certainly could lead to other Appraisal Institute governorship positions, if one is inclined to pursue that. But, if you cannot consider such service at this time, consider
writing an article – you are the ones who are experiencing today’s appraisal industry problems and
break-throughs! – Stephen Rosenthal, MAI
2015 Education Schedule
September 10th
Summer Conference
September 21-25
Review Case Studies-General
September 29th
Bowling & Chapter Event
October 7th
4 Hour Laws and Regs
October 22nd-23rd
Lake Tahoe Conference
Residential and Commercial Valuation of
Solar
7 HR USPAP
Installation Ceremony & Dinner
November 10-11th
December 3rd
December 8th
To register for any of the classes please visit our website at www.sac-ai.org or contact the
Chapter office at 916-972-9700
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In Memoriam
WALTON, Wendell Laverne Deeply loved by
his wife, children, grandchildren and friends
Wendell Laverne "Verne" Walton passed into peace and rest on March 5, 2015
at his home in Fair Oaks, CA. Verne was born in Oroville, CA on March 22,
1933 and raised in Yuba City, CA. He served his Country in the Army during
the Korean War. He enjoyed a successful career with the State Board of Equalization, and after retiring in 1993 he went on to work as an assistant Assessor in
San Francisco until 2000. Verne was an avid tennis player, and also enjoyed
skiing and spending time with his grandchildren. Verne is survived by his loving
wife Susan "Susie" Walton, his four children: Laurie, Denise (Mark), Mike
(Jessica) and Megan (Bill) and 8 Grandchildren: William, Scott, Grace, Sean, William, Tyler, Drew and
Rylee.
CASA DE LOS GOBERNADORES
The Governor’s Mansion That Never Was
By John Ashworth, SRA
Many of us know of the historic governor’s mansion near the capitol on
H Street. The Governor’s Mansion
State Historic Park is now partially
open to the public and sometimes
used for state events. It was the home
to 13 governors and their families
starting in 1903.
However, in the early 1970s, then Governor Ronald Reagan and wife Nancy
Reagan moved out, rented a large home
in East Sacramento, and began planning
the construction of a new mansion in
Carmichael. The 11 acre site on a bluff
overlooking the American River was to
become a permanent residence for the
Governor of the State of California.
Ground was broken in 1974. The statefunded project was not complete by the
time Reagan was succeeded by Jerry Brown. Brown did not desire to live in the house, but agreed to complete construction due to contractual obligations. The succeeding governor, George Deukmejian, intended to
live at the property but decided against it due to political pressure. No California governor ever lived in the
house, though it is reported that Nancy Reagan stayed there at times during construction.
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...Continued from page 8
The property was lived in
only by caretakers for several years, and the state
eventually decided to auction the property via private
bid. It was sold to developer Matt Franich in 1985.
Still on its original 11 acre site, Franich developed the
property in the 1990s into a ten lot subdivision he
named Casa de los Gobernadores (House of the Governors). Seven of the nine newly created lots were
homesites of approximately one-half to one acre in
size, while the other two became common area parcels retained by the new homeowner’s association.
The “governor’s home” became a 4.59 acre site after
the subdivision, as it still is today.
Most of the small homesites were sold in 2003
and 2004. Franich offered the “governor’s
home” for sale around the same time for
$5,900,000, stating that he would sell for a price
of $3,500,000 if the state, or then Governor Arnold Schwarzenegger, wished to buy it. Schwarzenegger and his wife Maria Shriver reportedly
viewed the house four times but decided not to
purchase. The property sold to a private party in
November of 2004 for $4,100,000.
There are terraced garden areas leading from
the rear covered patio down to a bluff overlooking the American River Parkway. Overall,
the grounds and improvements appear more
institutional than residential.
I obviously can’t provide much more detail
other than to say that it was a highly customized and high quality home that would probably have a different highest and best use if located elsewhere with different zoning. However, as reported in contemporaneous articles
as the project (and saga) unfolded, some of the
features included a 14 zone HVAC system, a
governor’s office, extensive customization including $90,000 (1975 dollars) worth of teak
cabinetry, and many other personal touches.
The client was probably dismayed that I was
unable to locate three sales of proximate comparable 11,000 square foot single family residences designed by a governor and his wife
and built by the state (and closed within the
last twelve months). In fact there had been
only one SFR sale greater than 10,000 square
I appraised the “home” last year (including using feet in recent years in Sacramento County, and
the original plans and specs noting the State of
that was a “normal” house. There was little
California client). It is located on a small, prithat was normal about this house or this report.
vate, gated street, Gobernadores Lane, acAs often seems to be the case: the more intercessed via California Avenue. With over
esting the property, the less fun the report, but
11,000 sf of living area on one level, it has the the more satisfaction when it is complete.
design and function (and certain security features) of an embassy or consulate more than a
single family residence. This is not surprising
given the intended use; there is a multiple flag
pole monument entry (visible from the gate to
the development), an expansive level front
lawn area (think helicopter), and a large motor
court with parking for dozens of vehicles. As
can be seen from aerial photography, the basic
design is two very long residential wings
(think staff and extended visitors), one of
which is flanked by a large resort style pool.
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Continued from page 1...
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In May several chapter members got together to help with the building of a local Habitat for
Humanity house. This is the second time we’ve done this, and the chapter also gave a monetary
donation to Sacramento HFH.
Our summer conference (scheduled a little late on Sept 10) will feature Peter Christensen, counsel for LIA (the E&O provider recommended by the AI), discussing best practices related to
liability. There will then be an included lunch, followed by George Dell, MAI, SRA, ASA presenting on Stats, Graphs, and Regression Analysis in the afternoon.
Dell will also be presenting a two day Stats and Graphs class in October. He is a great teacher
and really knows his stuff, so this could be very useful for those of us wanting to beef up the
support and exhibits in our reports.
Our two-day Fall Conference in Tahoe is shaping up with Steve Roach and at least one other
presenter covering litigation / expert witness related assignments.
We are again planning a pizza and bowling night in the Fall at Strikes in Rocklin. This has become a popular event, with family and friends welcome, as we have a lot of fun, and present
certificates to newly designated members.
Lots of other classes and seminars upcoming—check the website frequently. And, again, please
let us know what kind of educational offerings you want or need.
Our website will soon be going through an update to improve functionality, appearance and
ease of updating for Jenny.
Steve Parent, MAI, SRA, AI-GRS recently attended the Leadership Development Advisory
Council (LDAC) conference. This is his second year attending this Appraisal Institute sponsored event: it’s very useful in equipping for AI and general leadership skills. Serving the chapter as a board member can bring the opportunity to attend with expenses paid; it is held in the
Spring in Washington, DC. Steve is currently the chapter’s Secretary-Treasurer.
I will be attending the AI Connect national summer conference in Dallas at the end of July.
Consider submitting an article or news item for the newsletter. How about background on
an interesting market area or locale; a special property or property type; or the most dangerous,
weird or awkward thing that has happened to you in the field? We write and talk about this stuff
all the time so why not entertain or inform the whole chapter? Just send it in-we can edit as
needed-then you can be a published author!
Chapter elections are being held right now; your new slate of officers and board of directors will
be announced in early July.
AB 624 is state legislation currently progressing through the Senate in California. As proposed,
it would allow for preparing appraisal assignments which could adhere to recognized standards
of professional appraisal practice other than USPAP. It impacts relatively few appraisers, but is
an important issue to those who do international work and certain alternative valuation services.
This bill has been sponsored by the Government Relations Committee (GRC) of the AI. Links
to the text of the bill and to FAQs have been posted to the chapter website.
Have a great rest of your summer—it will be over before you know it—and rest of 2015 (I initially
typed ‘2014’). Make sure to spend some time not appraising!
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Sacramento Sierra Chapter
Donates $1000 to Habitat for Humanity and a day of volunteer
work. Thank you to all for your participation!!
A little
background on
the family the
house is being
built for
Ryan Frings, MAI & Steve Parent, MAI
handing over the check
The habitat crew and their tools
Hot Italian for lunch? Yes please!!
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Sacramento Sierra Chapter 2015 Officers,
Committee Chairs and Board Members
PRESIDENT
John T. Ashworth, SRA
Ashworth Appraisal Services
2945 Bell Rd #301
Auburn CA 95603
(530) 888-9803
john@realestatevalue.com
VICE PRESIDENT
Adam Bursch, MAI
Bender Rosenthal, Inc
4400 Auburn Blvd Suite 102
(916) 978-4900
a.bursch@benderrosenthal.com
BOARD 2015
Rob Weck, MAI (2015)
R.S. Weck & Associates
10411 Old Placerville Road,
#202
916-822-5652
rob@rsweck.com
Lance Jordan, MAI (2016)
Seevers Jordan Ziegenmeyer
3825 Atherton Road Suite 500
Rocklin, CA 95765
(916) 435-3883
lance@seevers.com
John Carrothers, MAI (2016)
SECRETARY – TREASURER Smith and Associates
Steve Parent, MAI, SRA
111 Woodmere Rd #140
Folsom, CA 95630
(916) 357-5860
jcarrothers@smithassociatesinc.com
(916) 978-4900
Ryan Frings, MAI (2016)
S.parent@benderrosenthal.com
Colliers International
Valuation Services Director
PAST PRESIDENT/
NOMINATING COMMITTEE 1508 Eureka Road, Suite 250
Roseville, CA 95661
Frank Molinari, SRA
916-724-5506
3941 Park Drive Ste 20-352
Ryan.frings@colliers.com
El Dorado Hills, CA 95762
Phone: 530-677-2970
Justin Lambert, MAI (2017)
Email: molinari@gate.net
4400 Auburn Blvd. Ste 102
EXECUTIVE DIRECTOR
Phone: 916-978-4900
Jenny Calabrese
j.lambert@benderrosenthal.com
1708 Q Street Suite 107
FINANCE
Phone: 916-972-9700
Steve Parent, MAI, SRA
jenny@sac-ai.org
(916) 978-4900
S.parent@benderrosenthal.com
Chapter Education Committee
Justin Lambert, MAI
Phone: 916-978-4900
j.lambert@benderrosenthal.com
Conner McDonald
Phone: 916-978-4900
C.mcdonald@benderrosenthal.com
GOVERNMENT RELATIONS
Mary Yankauer, SRA
Yankauer Appraisal
Owner
3009 Huntington Road
916-502-5824
yankauer@sbcglobal.net
Lance Jordan, MAI
Seevers Jordan Ziegenmeyer
3825 Atherton Road Suite 500
Rocklin, CA 95765
(916) 435-3883
lance@seevers.com
Candidate Guidance
Committee
Judy Dowdy, SRA
J. Dowdy, Appraisal Consulting
Owner
16947 Skislope Way
Truckee CA 96161
530-550-9363
judy@judydowdy.com

June 2015 Chapter Newsletter - Sacramento Sierra Chapter of the

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