Appraisal Industry News & Updates
Joint Statement on the Prospective Sale of REcolorado
REcolorado issued the following joint statement from the South Metro Denver Realtor Association (SMDRA) and the Denver Metro Association of Realtors (DMAR) on June 25, 2024: First and foremost, we want to apologize to each of you as our members that we were not able...
On-Demand Reliable Record Keeping Course
The Colorado Department of Regulatory Agencies (DORA) has an on-demand Reliable Record Keeping For Appraisers course available at no charge. Record keeping is an important cornerstone of any real estate appraisal practice. This course offers strategies and practical...
June Appraiser Continuing Education – Registration Open!
Join us on Monday, June 10th and earn 2 hours of CE with our class titled "What's in Your Workfile?" Our instructor for this class is AJ Jackson. Record keeping is an important cornerstone of any real estate appraisal practice, yet it can be ambiguous and is often...
Recap Summary of 2024 Legislative Session
Attached is a summary of the 2024 legislative efforts that had the potential to directly impact real estate in the State of Colorado. Unfortunately, the bill Limiting Actions against Appraisers, which initiated a 5-year statute of repose for civil action initiated...
ASFMRA Colorado Summer Education Seminar
Join the American Society of Farm Managers and Rural Appraisers (ASFMRA) for their Summer Education Seminar June 27-28. Topics covered will include Demand Management Leasing, Total Ranch Analysis for Colorado, Evaluating the Economic Feasibility of Agrivoltaic...
SB24-233 Property Tax
Summary: Property tax assessment for residential property. The bill lowers assessment rates and extends value reductions beginning in the 2024 property tax year. Property tax year 2024. For the 2024 property tax year, the bill carries over temporary assessment rates...
HB24-1313 Housing in Transit-Oriented Communities
Summary: The bill identifies local governments that must create, report, and implement a housing opportunity goal to increase housing inventory or forfeit allocations of Highway Users Tax Fund (HUTF) revenue from the state. The Department of Local Affairs (DOLA) in...
HB24-1152 Accessory Dwelling Units
Summary: A subject jurisdiction must allow one ADU as an accessory use wherever the jurisdiction also allows single-unit detached homes. The bill prohibits subject jurisdictions from imposing new parking requirements or requiring that the ADU be owner occupied. The...
Excess Vs Surplus Land Analysis presented by CAREA on May 15th
One of the most common, highest and best use problems appraisers find is the difference between excess and surplus land. This is especially true in the residential part of the industry. Learn the differences between Fannie Mae, FHA, Freddie Mac and other lender...
FHA Strengthens its Reconsideration of Value Policy
Yesterday, the Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2024-07, Appraisal Review and Reconsideration of Value (ROV). This ML strengthens FHA’s existing ROV process as part of HUD’s commitment to strengthening safeguards against unlawful...
New Reconsideration of Value policies from Fannie Mae & Freddie Mac
FHFA today announced that Fannie Mae and Freddie Mac (the Enterprises) published new Reconsideration of Value (ROV) policies after months of collaboration with FHFA and the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration. A...
HB24-1007 Prohibit Residential Occupancy Limits
Summary: The bill prohibits local governments, including home rule or statutory cities, counties, towns, territorial charter cities, and consolidated cities and counties, from limiting the number of people who may live together in a single dwelling, regardless of...
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