Restricted Residential and Restricted Non-Residential Appraisal Reports:

One of the breakthrough moments with this term’s edition of USPAP was the concrete examples within the student manual of what a Restricted Residential and Restricted Non-Residential appraisal reports might look like.  I mentioned in class that our office copied both formats to our macros with the idea that such a shortened version was perfectly acceptable with the Appraisal Foundation.

We’ve been reminded by one of our review appraiser friends that compliance with USPAP is only part of the criteria of working with lenders and, although the shortened format is allowed within the confines of USPAP, it might not be approved by your lender/client.  Be sure to check it out prior to submitting such a report.

Thanks for a Great First Year!

June 30^th was the last date for compliance with the Indiana appraiser continuing education requirements and it was also the anniversary of our first year with Education Resource, LLC.  We want to thank everyone who helped make our first year a good one. 

Education Resource is looking to expanding our operations in this coming year with new and revised programs.   We plan to continue the Lunch and Learn Series and we are contemplating taking it on the road – maybe on a quarterly basis.  We also want to continue to partner with other instructors like George Dell, in the coming year.  Our goal is to make your future CE requirements interesting, informative and painless. In that regard, please be on the lookout for an upcoming survey- we are interested in hearing your ideas for upcoming offerings.

In the meantime, we want to thank all who attended our classes.  It has been an honor to be your instructor.

CE Cycle for Appraisers Ends on June 30th!

For those of you holding an Indiana Appraiser's license…..June 30th is the deadline to have completed your 28 hours of CE (including 7 hours of USPAP). We have two USPAP dates remaining and several other course offerings to round out your 28 hours.

Check out our upcoming courses and register directly online at www.educationresource.com or call us at 317-610-6689.

For more specifics on the CE requirements for each license type, check out the info below:

Indiana Real Estate Appraisers:

• 28 hours within a two-year period with the period starting each even numbered year (Current Cycle: July 1, 2016-June 30, 2018)
• Must include 7 hours of USPAP (Must be completed between the time USPAP is available on approximately November 1, 2017 and June 30, 2018)
• CE requirements also apply to licensed trainees from the date of initial licensure.
• If an appraiser receives their license or certification within the last 185 days of a two (2) year renewal cycle, they are not required to obtain continuing education in the next two year period.
• Two to seven classroom credit hours can be obtained by attending the Real Estate Appraiser Licensee and Certification Board meeting for an hour for hour credit.
• Up to fifty percent (50%) of continuing education credit may be granted for participation, other than as a student in appraisal educational programs, as follows:
• Teaching.
• Program development.
• Authorship of textbooks.

 

Indiana Real Estate Brokers:

• 12 hours every year between July 1st to June 30th (IC 25-34.1-2-5; IC 25-34.1-3-10)
• If license is “Active” or “Unassigned”, the CE must be completed within the 7/1 to 6/30 timeline.
• If license is “Inactive” or “Referral”, there is no requirement for CE,
• Managing Brokers are required to have 4 of the 12 hours specifically categorized as Managing Broker CE
• Instructors must have 4 of the 12 hours categorized as Instructor specific CE