PUBLIC SESSION OF TUESDAY, MARCH 10, 2009
MINUTES
The regular meeting of the Board of Real Estate Appraisers was held at 124 Halsey Street on the 3RD Floor on Tuesday, FEBRUARY 10, 2009. The meeting was convened in accordance with the provisions of the Open Public Meeting Act. Board President Cheryle A. Randolph-Sharpe 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 Excused
Denise Siegel Present
Barry J. Krauser Present
Frank A. Willis Excused
Stephen P. Giocondo Excused
Cheryl A. Randolph-Sharpe Present
Eileen M. Mannion, Esq. Present
Also, present were: Dr. James S. Hsu, Executive Director; Susan Carboni, Deputy Attorney Charles Kirk, staff and Grace Gurisic, staff.
APPROVAL OF MINUTES OF TUESDAY, FEBRUARY 10, 2009
Following review and discussion and upon motion of Mr. Krauser , seconded by Mrs. Siegel it was determined that the minutes of February 10, 2009 be approved . A vote was taken and the motion was carried unanimously.
DIRECTOR’S REPORT
Executive Director, Dr. James S. Hsu made the following announcements:
*** There were three Investigative Inquiries scheduled today; however, their were two cancellations
*** Board Members Giocondo, McCann and Willis were excused for this meeting.
CONTINUING EDUCATION
| Provider | Course | Approved |
| Metro NJ Appraisal Institute | (1) Spotlight: The New Residential Market Conditions Form (2) 73rd Annual Princeton Conference | 3 Hrs of CE 7.5 Hrs. of CE |
| Columbia society of Real Estate Appraisers | Supervising Beginning Appraisers | 7 Hrs of CE |
| Pa Metro Appraisal Institute | (1) Spotlight: The New Residential Market Conditions Form (2) Legislative, Regulatory & Judicial Update | 3 Hrs of CE 2 Hrs of CE |
| Center for Government Services | Assessors Responsibilities during a Re-valuation/Reassessment | 2 Hrs. of CE |
| Central NJ Chapter of NAIFA | 1004 MC Home Value Code of conduct Seminar | 6 Hrs. of CE |
| Northeast NJ Chapter Appraisal | Inst.3rd Annual Meadowland Conference | 6 Hrs of CE |
| American Society of Farm Managers & Rural Appraisers | Real Estate Modules | 14 Hrs of CE |
| Loomis Appraisal School | (1) Eminent Domain Principles for Appraisers (2) Current Appraisal Issues 2008-2009 (3) Appraisal & Real Estate Fraud (4) 7-Hour National USPAP Update (5) Fundamentals of Relocation Appraisals (6) FHA Update | 7 Hrs. of CE 7 Hrs. of CE 3 Hrs. of CE 7 Hrs of CE 4 Hrs of CE 4 Hrs of CE |
| RENEWALS | ||
| Business Learning Center | (1) Basic Appraisal Principles (2) Basic Appraisal Procedures (3) Market Analysis & Highest & Best Use (4) Residential Site Valuation & Cost Approach (5) Residential Sales comparison & Income Approaches (6) Residential Report Writing & Case Studies | 30 Hrs of CE 30 Hrs of CE 15 Hrs of CE 15 Hrs of CE 30 Hrs of CE 15 Hrs of CE |
| American Society of Farm Managers & Rural Appraisers | 7 Hour National USPAP Course | 7 Hrs of CE |
| Allied business Schools, Inc. | Real Estate Appraisal | 75 Hrs of CE |
| Dynasty School | (1) 2008-2009 National USPAP (2) 2008-2009 National USPAP | 15 Hrs of CE 7 Hrs of CE |
| Appraisal Institute | Online Residential Design & Functional Utility | 7 Hrs of CE |
| INDIVIDUAL REQUESTS | ||
| Bernadette | Housing Market Analysis, Part 1 & 2 | 6 Hrs of CE |
| Heidi Quinn | FNC Conference | 3 Hrs of CE |
Following review and discussion by the Education Committee and the Board and upon motion of Mrs. Siegel, seconded by Mr. Krauser 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 INSTITUTE
*** Memo re: State Laws Affecting the Performance of BPO’s — see Discussion Topic
*** Appraisal News Online Vol. 10, No. 3, February 11, 2009
*** Appraisal News Online Vol. 10, No. 4, February 25, 2009
The Board reviewed, discussed and duly noted the above items.
APPRAISER QUALIFICATIONS BOARD
*** AQB Meeting Notice, May 1, 2009
*** AQB Public Meeting Summary, February 20, 2009
*** AQB Memo from Gary Taylor, Chair of AQB re: Exposure Draft
The Board reviewed, discussed and duly noted the above items
APPRAISAL FOUNDATION
*** USPAP Q and A; Vol. 11, No 2-February, 2009
*** Memo from Sandra Guifoil, Chair of ASB re: Third Exposure Draft of proposed changes to the 2010-11 Edition of USPAP
*** Meeting Summary of January 23, 2009
*** Received from Board President Randolph-Sharpe re: free TAF-AARO training being offered to Regulatory Board Members
Board Members Siegel and Randolph-Sharpe have both expressed an interest in attending this training session.
APPRAISAL SUBCOMMITTEE
*** Letter from Vicki Ledbetter, Acting Executive Director in response to the Board’s letter of 2-2-09 Notice of Proposed Rule Amendments advising that they have reviewed same and have "no comments"
*** Letter to Vicki Ledbetter re: On-Line Valuation for Consideration and review at this meeting.
The Board reviewed discussed and duly noted the above items.
LEGISLATION - Fourth Quarter, October 1 to December 31, 2009
*** Assembly Bill No. 3765 re: Establishes 18 month moratorium on promulgation of new administrative rules and issuance of new policy circular letters by State Agencies
The Board reviewed, discussed and duly noted the above items.
DISCUSSION
*** DAG Draft to William Petro, Investigator with the REC re: BPO’s
Following review and discussion and upon motion of Mrs. Siegel, seconded by Mr. Krauser that the letter as drafted issue to Mr. Petro. A vote was taken and the motion carried, unanimously.
*** USPAP Q & A, Vol. 11, No. L January, 2009
The Board reviewed, discussed and duly noted this item
*** Letter to US Secretary of the Treasury regarding Mortgage relief/foreclosure plan
The Board reviewed, discussed and noted this item
OTHER
*** Consumer Wise News for February/March, 2009
*** News Release from Attorney General re: "Monmouth County Man Sentenced to State Prison for $2.9 Million Mortgage and Investment Scams"
*** Mail solicitation by NJ Tax Appeal.net.LLC re: Tax Appeals
*** Copy of letter to Director of Consumer Affairs from Douglas Tomson, NJAR re: the pre-proposal for N.J.A.C. 13:45F, as published in the December 15, 2008 New Jersey Register
*** Listing of Board Member Mailing Addresses and telephone, Fax and E-Mail ---- for Board Members review and update
The Board reviewed, discussed and noted the above items
PUBLIC ANNOUNCEMENTS OF DISCIPLINARY ACTION TAKEN
*** IMO --- COREY J. SCHNEIDER — CONSENT ORDER filed 2-11-09
*** IMO --- DANIELLE L. BANNON — CONSENT ORDER filed 3-5-09
*** IMO --- RICHARD C. ANDERSON, JR. — OFFER OF SETTLEMENT filed 3-6-09
The Board reviewed, discussed and duly noted the above Orders
PENDING APPLICATIONS
Certified Residential
Nicholas A. Abate Bettina A. Monaco-Peretti
John W. Carlson Michael U. Nwosu
John A. DeMars Ester Pruscino
Helen A. Gibson James A. Ranoldo
Leonard A. Molinari
Following review and discussion by the Board and upon motion Mrs. Siegel, seconded by Mr. Krauser 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
Richard Siebel and Dan Drelica of the Appraisal Community addressed the Board regarding issues of mutual concern.
ADJOURNMENT
Upon motion of Ms. Mannion, seconded by Mr. Krauser 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
