The nation’s largest professional association of real estate appraisers today announced a three-year strategic plan to address challenges and opportunities facing the organization and the real estate valuation profession.
The strategic plan includes five core values governing the Appraisal Institute’s continued growth and development:
Distinctiveness: Elevate the Appraisal Institute and its members within the valuation profession by virtue of designations, education and body of knowledge.
Innovation: Continue to be thought leaders by promoting innovation and addressing current developments within the valuation profession via education, information resources, benefits and setting standards for the profession.
Professional Responsibility: Encourage and support the highest level of ethical and professional behavior of all Appraisal Institute professionals.
Advocacy: Represent the interest of the appraisal industry and work toward advancement of Appraisal Institute professionals within it.
Leadership: Advance the interest of AI professionals, the real estate valuation profession and the public with integrity and excellence.
Real estate transactions and mortgage financing involve important financial commitments. An accurate opinion of property value is essential for selling, buying and borrowing decisions.
Neither one of the mortgages merchants, credit officers nor property holders may choose the appraiser for the property on which they need to loan/obtain stores. Since the previous gatherings have a budgetary enthusiasm for the exchange, there is a danger they may endeavor to impact the appraiser to allow a higher quality to the property than economic situations bolster so the exchange will experience.
So, when you buy any new property, and need somebody trained in the property market to look at the property and make a fair determination of its value, and want the best of services and a true value for your money then choose wisely. read more at thesequitur.com
In March 2016, the Federal Reserve Bank in Minneapolis reported a decline in the average value of non-irrigated cropland of 3.5 percent in the north-central states, compared to a year earlier. This included a 4.3 percent annual decline in farmland values in Minnesota, a drop of 4.6 percent in both Wisconsin and North Dakota, and a decline of 1.6 percent in South Dakota. Montana had the largest year-to-year decline, with a drop in land values of over 24 percent. These land value results were based on a survey of agricultural banks in the listed states, conducted by the Federal Reserve Bank.
Many agricultural experts and economists have been warning for the past few years that we could be headed for a significant correction in farmland values in the Midwest. Based on recent data, there appears to be evidence that a reduction in average land values has been occurring in some regions of the U.S., including the Upper Midwest. Much lower corn and soybean prices in 2014 and 2015 have resulted in significant reductions in farm income levels, thus putting downward pressure on average land values in many areas.
For all your Commercial Real Estate Appraisal Needs in the Minneapolis St Paul Metro area and throughout Minnesota, contact Minnesota Real Estate Appraisal Services