Like so many organizations, our Chapter has been forced to cancel and postpone most of our events and educational offerings over the past few months as a result of the COVID crisis. While many of us had hoped that the impact of this crisis would be short-lived, it has become increasingly apparent that the path back to normal will be much longer than we had hoped for.
Recently, the Appraisal Institute released the results of a national survey on how the appraisal industry was being impacted by the COVID crisis. Appraisers surveyed indicated that their largest COVID-related challenges were maintaining social distancing requirements, changing conditions and regulations, too few assignments, and uncertainty around future income. About half of survey participants indicated that it was still too soon to say whether the pandemic has impacted values in their areas of practice; however, of those that have seen an impact, most stated that COVID has created more difficulties than most realized, that they expect a moderate or slow recovery, and that it will take time to restore normal market conditions. While these results are certainly not groundbreaking, I think they show all of us that we are not alone in these times of uncertainty.
To adapt to these new times your education committee has been working hard to transition many of our chapter’s educational offerings to a distance-learning format. On August 20th we will be offering a 3-hour Market Outlook via Zoom that will give members local insight on many of the COVID impacts challenging our local real estate markets. The event will include insights from USD economist Ryan Ratcliff and local real estate brokers in the office, retail, industrial, and multi-family markets. Go to the registration page to get more details and to sign-up.
To meet our members’ ongoing needs for education we will also be offering Federal and California Statutory Laws, Business Practices and Ethics, and the National USPAP 7-Hour Update in the virtual, Zoom format. For more information or to register, go to the chapter website.
Due to the coronavirus pandemic, the Appraisal Institute has taken the unfortunate but necessary step of canceling its 2020 Leadership Development & Advisory Council, which had been scheduled for Washington DC in October. Nonetheless, I want to thank our chapter members who had planned on traveling to represent our industry. You can monitor the current status of all national events online.
Lastly, I want to congratulate Darrell Martin, MAI for achieving his AI-GRS designation. With some luck, I may be able to present Darrel with his certificate at a future chapter luncheon.
For updates please check our website and follow the San Diego Chapter on Facebook, LinkedIn, and Twitter.
Jeremy Darner, MAI, SRA, AI-GRS
2020 Chapter President