2 February 2018
2018 Annual Convention
The Annual Convention will be held at the Georgian Bay Resort in Collingwood, Ontario Monday May 28th to Friday June 1st 2018. Registration closes April 20, 2018
2018 Convention Schedule & Hotel Information
Convention Registration Form
12 January 2018
Welcome 2018 and Happy New Year to All,
I want to take this opportunity to wish everyone all the best as we move into 2018, and to reach out to Membership as we move into our Associations 26th year.
Our team is working hard to keep abreast of the constantly changing environments that our appraisers are a part of, and we will continue to try a create the best possible opportunities for our members. We are always looking for new and innovative ideas, along with a superior engagement with our Appraisers. With this in mind we will holding our National Convention in Collingwood this spring and I hope to see many new faces there, to create opportunities that will expand our member connections with Lenders, Management Companies, Our Board, Colleges and other Industry stakeholders. This allows us all to put a face to the names as well as the chance to enhance your industry relationships and recognition. The more the merrier.
With the latest update to USPAP being released for 2018-2019 and our compliance required as of January 1, 2018, we have changed gears and reformatted our course with a PDF exam for quick review and return, along with a digital copy of USPAP for your superior reference needs. We believe this makes information of more accessible and easily referenced, than in the past. With this being said we still have some members that have not taken up the course, and since compliance is necessary as of January 1st, 2018 you would be in violation, however we have given some leeway allowing completion of exam and return by the end of February. For those who haven’t taken the course, please take the appropriate action quickly to avoid any negative impact on your designation.
On a more festive note, we want to engage and hear from our Members more, and in the spirit of our success with last Year’s 25th Anniversary Logo Contest, I want to enlist the efforts of our Members once again. As our Association has evolved I believe we should explore a ‘New Look’ and I want to give everyone the opportunity to take part and show us your ideas by designing a NEW LOGO. Be creative and adventurous with your ideas in developing an expression to represent our Association, and you can submit as many designs as you wish. We will view all the submissions and our Board of Directors will sort through them and vote on a winner who will receive their Membership free for the upcoming 2018-2019 membership year, along with the national recognition and ‘Bragging Rights’. We will be accepting submissions until Feb 14th where the one we Love the Most will be chosen.
Please send your ideas to firstname.lastname@example.org. The winning design will become the property of CNAREA, and will be used in all of our publications, marketing, etc.
DAR/IFA/Certified Appraisal Reviewer
1 December 2017
We no longer have exam days. Once you are approved to write an exam to obtain your Proffessional Designation you will require a Proctor. Below is a list, please click on link below to see who qualifies as an acceptable proctor.
Acceptable Exam Proctors for Designation Exams
14 November 2017
CNAREA is very excited to announce that as of today, the USPAP Review Course (CNA209) is available exclusively by electronic files.
What does this mean to you?
- You do NOT need to travel to have your USPAP Review Course completed.
- You will be able to review the USPAP and complete the test at your own pace, in your office.
- You are REQUIRED to complete the course and successfully complete the test PRIOR TO FEBRUARY 28, 2018.
ALL MEMBERS ARE REQUIRED TO BE ADHERING TO THE NEW USPAP AS OF JANUARY 01, 2018.
Therefore it is imperative that you order your copy of the USPAP and accompanying files as soon as possible.
Although you are responsible for following the new Standards as of January 01, 2018; you to have until February 28, 2018 to complete the review course and exam.
What do you need to do?
- Complete the course registration form on the website, and forward it and your payment information to the CNAREA office.
Upon registering for the course, you will be emailed several files:
- Your copy of the eUSPAP 2018-2019,
- A Summary of the changes to the USPAP from the previous edition,
- A USPAP Declaration issued for CNAREA Members, and
- The USPAP Course test.
Once you receive the above you have two (2) weeks to complete it and send the test in for marking.
The exam is an open-book test, in a fillable PDF format. Simply download the files, review the new USPAP and Declaration file, and fill in your answers to the test, save the test, and email it back to: email@example.com
21 August 2017
We have had several conversations recently with various industry stakeholders and we would like to encourage you to consider the following:
BLENDED SITE ADJUSTMENTS: In recent conversations with the Bank of Montreal, BOM has stated that the blended adjustments for site value are no longer acceptable to them, and they are requesting that adjustments, and the comments associated with them address the specific components that contribute to the adjustment(s).
Please ensure that when completing appraisal assignments for this client, that the site adjustments and comments reflect their requirements.
TENANT OCCUPIED PROPERTIES: The question about the ownership rights being appraised, in tenant occupied properties, keeps coming up. If a property is tenant occupied, then the owner has surrendered part of their ownership rights, (the right to occupy) and therefore no longer has the full bundle of rights (Fee Simple). In such a case, the normal course of action is for the appraiser to consider the LEASED FEE interest of the property, and appraise it as such. This would typically require the use of tenant occupied comparable sales for consideration, etc. HOWEVER some clients (lenders such as BMO) require that the Fee Simple interest in a property be the basis of the appraisal assignment. In such cases, the appraiser is still to indicate that the property is Tenant Occupied, however the ownership rights being appraised are FEE SIMPLE. The appraiser simply needs to include a statement such as: “At the request of the client, the subject property is being valued considering the Fee Simple interest, and the Leased Fee interest in the property has not been addressed in this appraisal assignment.” See USPAP FAQ #217
21 August 2017
FIND AN APPRAISER: Some lenders, and AMC’s are having difficulty finding appraisers in certain market segments, and searches on the website are not producing results reflective of the areas of service of our members. Please log-in to your profile on the website, and update your coverage areas so that current and prospective clients are able to find you!