CRA DIVERSIFICATION

CRA Diversification

Here is an example of how a CRA has successfully diversified his practice. Leigh Walker is a Managing Partner with LawrensonWalker Real Estate Appraisers in Vancouver, British Columbia and specializes in residential appraisals He has worked in the real estate industry since 1993 and is a designated CRA appraiser with the Appraisal Institute of Canada (AIC). He is also a...

Best practices – examples from the field

Best Practices

Owner-supplied information: proceed with caution In providing their services (appraisal, review, consulting and reserve fund studies) members of the Appraisal Institute of Canada (AIC) often rely on owner-supplied information (this could also read ‘client-supplied information’ when the client is not the owner). The information in question will generally pertain to the subject property and may include a summary of rental...

Limited Market, Special Purpose Valuation Revisited

Limited Market Specialist

Abiding by a legal requirement to render an opinion of market value (e.g., real property assessment) for limited market, special purpose properties presents a difficult challenge for the appraisal community. If there are no buyers and sellers for a special purpose property, what can form the basis of the market value opinion? Until 2004, the unequivocal answer throughout Canada was...

Injurious Affection and HVTL corridors

A study of quantification of value loss related to expropriation Introduction In 2007, Altus Group undertook a study of injurious affection (loss in value to the remainder of property after takings by expropriation) related to the Bruce to Milton 500-kV transmission line reinforcement in Ontario. That study concluded that there was only nominal property value loss to properties. In 2011, Altus...

Valuing Solar Energy (Part 1)

Engaging individuals, property owners and communities in generating clean energy to sell to the grid is a win-win for everyone. Cleaner energy, contributing to the greenness of the planet and getting paid to do it – it does not get much better than this. Drawing from the microFIT and FIT programs in Ontario, this article discusses the program participants’...

East meets west in the heart of the Silk Road

East Meets West CUSAP

East meets west in the heart of the Silk Road Using CUSPAP to build a war-torn Afghanistan economy 
By Jeremy Brooks Two weeks after U.S.-led forces captured the Iraq capital of Baghdad in 2003, Philip Smith was dispatched to the city of Basra by the Government of Britain. A veteran of the financial services and real estate industries, he had...

Appraiser’s Requirement of ‘Good Faith’

Introduction This is the second part of a consideration of the phrase ‘good faith’1 in the Appraisal Institute of Canada (AIC) Code of Conduct (Code): Members of the AIC pledge to conduct themselves in a manner that is not detrimental to the public, the AIC or its members, or the real property appraisal profession. Members’ relationships with other members, the AIC...

Best practices – examples from the field

A collaboration by the volunteer members of the Appeal Sub-Committee: Allan Beatty, AACI, P.APp, Fellow; Peter Lawrek, AACi, P.App; 
Robert Robson, AACI, P.APp, Fellow; Gordon Tomiuk, AACI, P.APp, Fellow; David Babineau, AACI, P.APp, Fellow; and John Shevchuk, AACI (Hon) This article represents a collaboration of the Appeal Sub-Committee and is the first of a series that will appear in the 2016...

CRA Diversification

CRA Diversification

Here is an example of how a CRA has successfully diversified his practice. Assessment Appeals How did you get started doing assessment appeals? I was contacted by an individual, who had been referred to me by a local law firm. This individual was quite wary of dealing with the Municipal Property Assessment Corporation (MPAC). They asked for my help in providing them...

Understanding Reserve Fund Studies

Understanding reserve funds studies

Introduction Condominium and strata ownership continues to be a viable housing alternative for many Canadians. To protect the interests of the individual unit owners and the condominium corporations, the majority of Canadian provinces have enacted legislation requiring that condominium corporations partake in a reserve fund study (called a depreciation report in British Columbia). Condominium corporations are referred to as strata...