Wisconsin Chapter

President's Column by Richard A. Zurowski, SRA

Spring has arrived, with historically low interest rates and more business than most of us can handle. While the assignments have not been getting any easier, hopefully, your fees or income have been increasing.

While our practices have experienced an increase in income in recent years, the chapter has experienced a steady decline in funds. Our chapter membership has been holding steady at approximately 250 members compared to the approximately 2000 appraisers statewide. Our chapter dues of only $60.00 per year are perhaps the lowest in the nation. Over the past several years educational offerings have generated modest returns, and the dues have not covered the additional expenses of running a statewide chapter. Efforts to generate additional revenue in 2004 include educational offerings at significantly lower costs and a dues increase. The following reflects our end of year balance for the previous five years:

1998 - $97,565
1999 - $105,823
2000 - $75,330
2001 - $55,636
2002 - $35,277

As you can see, we have been operating at a loss in recent years with the most significant changes to our cash flow being the loss of revenue from sales, lease, cost, and vacant land studies. With declining volunteers, these studies were either dropped or picked up privately. To keep the dues increase t a minimum, please participate in our educational offerings and encourage others to join you.

Check out the shedule of educational offerings planned for this year including the Standards of Professional Practice in December.

I would like to thank everyone who attended the conference in Oconomowoc. All of the programs were well attended with many positive comments made by those attending.

"The secret of joy in work is contained in one word . . . excellence. To know how to do something well is to enjoy it." -Pearl Buck
 

Treasurer's Report

The Chapter Funds as of 03/31/03 are:

Primary Checking Account: $2041.58
Money Market Account: $4710.59
CD: $28686.88

Total Funds Balance: $35439.05
 

Board Meeting Minutes - February 24, 2003

President Richard Zurowski called the meeting to order at 5:00 p.m. at the Olympia Resort in Oconomowoc, Wisconsin.

Members Present
John Periard, Angela Kwasny, Tim Warner, Tim Leberman, Detlef Weiler, Steve Vitale, Mike Brachmann, Jeff Smyth, Richard Zurowski, Kevin Zarem, and Don Moore.

Secretary's Report
The secretary's report was approved as published in the last newsletter.

Treasurer's Report
Budget issues were again discussed to increase revenue sources. The Wisconsin Chapter has about 200 members out of approximately 2000 statewide appraisers, and ideas were presented to increase membership. This included proposals for board members to personally contact potential members. Other possibilities include adding membership packets to the educational mailings which are sent to all appraisers.

Old Business
State Legislative issues were updated from information presented by Tom Swan via a letter sent to the last board meeting. There are several vacancies on the Wisconsin Real Estate Appraisal Board. Previous tentative appointees had not been confirmed, and there are proposals to reduce the size of the board. This would substantially increase the workload on the remaining members, and may further delay and/or dilute enforcement issues. It is critical for the appraisal board to have members that understand appraisals and USPAP. Members were encouraged to contact State Senator Bob Welch to get Appraisal Institute members on the board.

New Business
Appraisal Institute course instructor Richard Heyn addressed the board regarding Initiative 717 of the Appraisal Institute. It is a proposal for the Institute to set up a for-profit "school" to offer Appraisal Institute courses on a national basis. The Appraisal Institute has the best classes and instructors, yet we only have a small share of the overall education market. Most AI courses are offered by local chapters staffed by volunteers. The 717 Initiative seeks to increase the Institute market share without adversely impacting local chapter offerings, and to turn it into a profit center.

Educational offerings for 2003 were reviewed, and it was pointed out that no 4 hour USPAP course offering was noted in the last newsletter. This course WILL be offered, as it is the end of the 2 year state education cycle, and will be needed by all. However, a time/location has not yet been finalized but will be forthcoming shortly. Finally, preliminary course offerings for 2004 were discussed.

There being no further business, the meeting was adjourned.

Detlef H. Weiler, MAI - Secretary
Wisconsin Chapter of the Appraisal Institute
 

2002 Commercial Study - For Sale

The 2002 Commercial Study will be available for sale as of May 15, 2003, and can be purchased from Delores Rohr at Larkin Appraisal (262-785-1313). With a single exception, there will be no change in the previous rates.

Complete Commercial Study* $425
Sold Individually $125

Website Access (Base Account) $650
Additional-User Accounts +$400 per User

Website & Complete Study $975

*Complete: Industrial, Commercial, Special Purpose & Apartments

As indicated above, access is also available from the Internet at www.saledataservice.com. If you are not yet familiar with this service, complementary access is available during May 2003 by entering Username: trial, Password: offer (be sure you read ABOUT SDS).

The Internet service provides on-line access to the 2002 Commercial Study for the Milwaukee metropolitan area, as well as to 2003 Madison, Milwaukee and other area market data which are collected from various sources across Wisconsin. Also included from the Internet are additional commercial land sale, apartment and lease data. Access to Wisconsin Transfer Return data may also begin during 2003.