State Board of Real Estate Appraisers
PUBLIC SESSION MINUTES
TUESDAY, MARCH 11, 2008
The regular meeting of the Board of Real Estate Appraisers was held at 124 Halsey Street on the 3RD Floor on Tuesday, MARCH 11, 2008. The meeting was convened in accordance with the provisions of the Open Public Meeting Act. Board President, Mr. Giocondo called the meeting to order at 9:30 A.M. A roll call was taken and the following attendance was recorded for these minutes:
John A. McCann Present
Denise Siegel Present
Barry J. Krauser Present
Frank A. Willis Present
Stephen P. Giocondo Present
Robert H. Scrivens, Jr. Present
Cheryl A. Randolph-Sharpe Present
Eileen M. Mannion, Esq. Present
Also, present were: Dr. James Hsu, Executive Director; Susan Carboni, Deputy Attorney General; Emilio Aviles, staff; Charles Kirk, staff and Grace Gurisic, staff.
APPROVAL OF MINUTES OF WEDNESDAY, FEBRUARY 13, 2008
Following review and discussion and upon motion of Mr. Willis, seconded by Mr. Krauser it was determined that the minutes of February 13, 2008 be approved . A vote was taken and the motion was carried unanimously.
DIRECTOR?S REPORT
Executive Director, Dr. Hsu made the following announcements:
*** There is one Investigative Inquiry scheduled for this meeting.
*** Announced that 28% of the 3,100 Licensees are being audited
883 Licensees have been selected for the CE random audit and there are still 208 Licensees who have not submitted their CE documentation. Therefore, by the April Board Meeting, POD?s will be issued to those individuals who have not fulfilled the CE requirements as mandated by the State and the Appraisal Subcommittee
*** New York State Attorney General Andrew Cuomo has entered into an agreement with Fannie Mae, Freddie Mac and the Federal Housing Enterprise Oversight Office for the purpose of strengthening the independence of the Appraisal process.
This agreement eliminates Mortgage Broker ordered appraisals, prohibits appraiser coercion and reduces the use of appraisals prepared in-house
This agreement also enhances quality control in the appraisal process. Our Board can mirror New York?s action into its regulations and rules and minimize mortgage transaction fraud.
CONTINUING EDUCATION
| Provider | Course | Recommendation | |
| Kislak Real Estate Institute of Monmouth University | "Redevelopment in NJ after Kelo & Paulshoro-Now What?" | 2.5 Hrs. Of C.E. | |
| Metro NY Chapter Appraisal Institute | Today?s New Real Estate Dynamics | 2 Hrs. Of C.E. | |
| Lorman Education Services | (1) The Development Approval Process (2) Eminent Domain |
6 Hrs. Of C.E. 6 Hrs. Of C.E. |
|
| American Society of Appraisers | Business Valuation Seminar | 7 Hrs. Of C.E. | |
| Tri-State Realtors Commercial Alliance | (1) Cost Segregation (2) Advanced Like-Kind Exchange Of Property; Creative Planning Technique (3) A Day in the Life of the Commercial REA Professional (4) Advanced Real Estate Investment Analysis (5) Environmental Due Diligence at At Environmentally Impaired Sites (6) Green Advantage (7) Investing in Real Estate through Self directed Retirement Accounts |
3.5 Hrs. Of C.E. 3.5 Hrs. Of C.E. 3.5 Hrs. Of C.E. 3.5 Hrs. Of C.E. 3.5 Hrs. Of C.E. 3.5 Hrs. Of C.E. 3.5 Hrs. Of C.E. |
|
| ACI | (1) Appraising for Alternate Users: Life Beyond Lending (2) Maintaining Control: Dealing With Client Pressure |
7 Hrs. Of C.E. 7 Hrs. Of C.E. |
|
| Metro NJ Chapter of the Appraisal Institute | (1) Litigation Skills for the Appraiser (2) April Chapter Meeting |
7 Hrs. Of C.E. 2 Hrs. Of C.E. |
|
| NAIFA | 5.0 2008 USPAP Update | 7 Hrs. Of C.E. | |
| Association of Municipal Assessors of Ocean County | Understanding Tax Appeals at the County Tax Board | 2 Hrs. Of C.E. | |
| Dynasty | Advanced Residential Applications | 14 Hrs. Of C.E. & 15 Hrs. Of Pre-Lic. | |
| PA Metro Chapter of the Appraisal Institute | (1) Rates and Ratios (2) Evaluating Commercial Construction |
7 Hrs. Of C.E. 16 Hrs. Of C.E. |
|
| Allied Business Schools,Inc. | (1) Sales Comparison & Income Approach (2) Residential Market Analysis & Highest and Best Use |
30 Hrs. Of Pre-Lic. 13 Hrs. Of C.E. & 15 Hrs. Of Pre-Lic. |
|
| Wachovia Appraisal Training | Construction to Permanent Appraisal Process | 15 Hrs. Of C.E. | |
| McKissock | (1) Advanced Residential Applications & Case Studies (2) Environmental Pollution: Mold & Air Quality |
14 Hrs. Of C.E. & 15 Hrs. Of Pre-Lic. 2 Hrs. Of C.E. |
|
| Center For Government Services Rutgers | Land Valuation from an Assessment Perspective | 4 Hrs. Of C.E. | |
| M.A.E. Real Estate Education | Developing & Reporting Defensible 1004 Form Report (AP 202) | 8 Hrs. Of C.E. | |
| Northeast NJ Chapter of the Appraisal Institute | 2nd Annual Meadowlands Conference | 7 Hrs. Of C.E. |
Following review and discussion by the Education Committee and the Board and upon motion of Mrs. Siegel, seconded by Mr. McCann it was determined that the C.E. Courses listed did meet the established criteria for the designated approved hours and that they be approved as noted above. A vote was taken and the motion was carried, unanimously
APPRAISAL STANDARDS BOARD
*** USPAP Q and A, Vol. 10, No. 2, February 2008
The Board reviewed, discussed and duly noted the above item.
APPRAISAL QUALIFICATIONS BOARD
*** Memo from Gary Taylor, Chair re: Exposure Draft of an Interpretation and a guide note applying to the Real Property Appraiser Qualification Criteria.
The Board reviewed, discussed and duly noted the above item.
APPRAISAL INSTITUTE
*** Appraiser News Online Vol. 9, No. 3, February 15, 2008
*** Appraiser News Online Vol. 9, No. 4, February 29, 2008
? refer to first page last paragraph ? the following was received from Board Member Scrivens for consideration:
1. "Home Valuation - Code of Conduct"
2. "Home Value Protection Program and Cooperation Agreement"
OTHER
*** Pro Teck Broker Newsletter, Vol. 1, No. 1, February 19, 2008 ? this item was forwarded by Board Member Siegel for discussion.
The Board reviewed, discussed and duly noted the above noted items.
PUBLIC ANNOUNCEMENTS OF DISCIPLINARY ACTION TAKEN
*** IMO -- JOSEPH PERELLA, SR. ? Offer of Settlement in Lieu of Further Proceedings, Filed 11-7-07.
*** IMO -- SATYOWATTIE S. SINGH - Administrative Action - Provisional Order of Discipline Filed 2-25-08
*** IMO -- JOSEPH F. DAMATO - Rescission of Final Order of Discipline Filed 2-15-08.
*** IMO -- JEFFREY SMITH - Order Terminating Probation Filed February 15, 2008.
The Board reviewed, discussed and duly noted the above Orders.
PENDING APPLICATIONS
Residential License
James Gould Harold M. Graf
Tyson Hoeflinger Arthur Lackner
Certified Residential
Suzanne M. A-Weigand Robert W. Bonomo
Thomas J. Breazeale Joseph R. Castiner
Jeffrey W. Coe Robert F. Dempsey
Abdullah F. Johnson Michael V. Miller
Robert Negron Lawrence C. Sansone
Jeanne Santovasco Brian R. Toomey
Richard E. Trzeciak Joanna Plitt
Certified General
Heather N. Esposito Christopher J. Otteau
Nicholas M. Sapio Robert B. Stiefbold
Following review and discussion by the Board and upon motion Mr. McCann, seconded by Mrs. Siegel it was determined that the above noted candidates did meet the established criteria for Licensure and that their applications be approved. A vote was taken and the motion carried, unanimously.
PUBLIC COMMENT
There were no members of the public present at this meeting.
ADJOURNMENT
Upon motion of Mr. Krauser, seconded by Mrs. Siegel it was determined that the Public Meeting be adjourned at 11 A.M. and the Board proceed to the Executive Session. A vote was taken and the motion carried, unanimously.
Respectfully submitted,
DR. JAMES S. HSU
Executive Director
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