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Real estate briefs for the week of Nov. 12
Christie's Great Estates
Michelle Beaubien Ball, vice president of Long & Foster Real Estate’s luxury marketing division, attended the Christie’s Great Estates global annual conference in Bermuda last month. Christie’s Great Estates is an international network of real estate companies.
The Leadership Strategies for Changing Markets conference was attended by representatives from more than 20 countries. Ileana van der Linde, co-author of the World Wealth Report, delivered the keynote address. The World Wealth Report tracks global shifts of wealth concentration, predicts new pockets of emerging wealth and isolates where the wealthy invest and spend.
The meeting agenda included presentations on techniques for building an international client base, proven business strategies to prepare for a changing market, and Internet marketing solutions.
Appraisal legislation
Real estate appraisers are releasing draft model legislation calling for the registration and regulation of Appraisal Management Companies (AMCs). The model legislation is a joint effort of the Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the National Association of Independent Fee Appraisers.
The organizations are inviting comment and discussion from all stakeholders regarding the model and the overall topic of the future regulation of AMCs. A copy of the draft model legislation is available at www.appraisalinstitute.org/newsadvocacy/downloads/modelprovisionsAMC.pdf.
As currently drafted, the model contains the following provisions:
· Requires the registration of AMCs operating in the state that order residential appraisals from independent appraisers. Provides exemptions for “in-house” appraisal departments, AMCs that order less than 10 appraisals in a state in a year, and for appraisers who subcontract to other appraisers on an incidental basis;
· Prohibits AMCs from being owned by individuals who have had an appraiser license or certification denied, refused, cancelled or revoked;
· Requires the identification of a “controlling person” for each AMC;
· Requires AMCs to have systems in place to verify that they utilize only licensed or certified appraisers, and that all appraisals are in compliance with USPAP;
· Enacts requirements that ensure that appraisers are free from coercion or inappropriate influence from AMCs; and
· Provides for the adjudication of disputes between AMCs and independent appraisers.
Contact Scott DiBiasio, 202-298-5593 or sdibiasio@appraisalinstitute.org
Toys for Tots
Long & Foster Real Estate is holding its annual toy drive to benefit the U.S. Marine Corps Reserves’ annual Toys for Tots program. All sales offices will collect new and unwrapped toys for needy children this holiday season. Toys may be dropped off seven days a week at any Long & Foster office by Dec. 15.
Toys are distributed to local churches, social welfare agencies and needy children throughout the region. Last year’s Toys for Tots drive distributed 16.7 million toys benefiting 7.5 million needy children.
Remodeling tour
SunDesign Remodelers is offering a tour of a recently remodeled kitchen Nov. 15, 9 a.m.-2 p.m. The home at 628 Third St. in Herndon was thoughtfully designed to include gathering areas and plenty of working spaces. It is accented with warm cherry cabinets, rich granite countertops and a chef-ready appliance selection.
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