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Need a Credentialed Phoenix Real Estate Appraiser?

In the current unpredictable and volatile real estate market, the expertise of a well-credentialed real estate appraiser who is knowledgeable about the property type and market area is particularly valuable when making sound decisions regarding real property.
Arizona requires that all real estate appraisals are to be performed by state licensed or state certified appraisers.  There are three classifications granted by the State of Arizona Board of Appraisal.

Licensed Residential Appraiser – may appraise non-complex/typical residential units with a value less than $1,000,000 and complex/atypical residential units under $250,000.

Certified Residential Appraiser – may appraise all residential units without regard to complexity or value.

Certified General Appraiser – may appraise all types of real property.  Requirements for this certification include:

• 300 qualifying course hours including a 15-hour Uniform Standards of Professional Appraisal Practice (USPAP) course;
• 3,000 hours of experience in not less than 30 months with at least 1,500 hours of non-residential appraisals;
• Pass the National Uniform Real Property Appraiser Examination approved by the Appraiser Qualifications Board; and
• A bachelor’s degree.

In addition to state licenses and certifications, an appraiser may hold the prestigious member designation of Member of the Appraisal Institute (MAI) and/or Senior Residential Appraiser (SRA), granted by the Appraisal Institute.  The Appraisal Institute is a highly regarded international organization and acknowledged as the worldwide leader in appraisal education, designation programs, research and publications.

The MAI Membership Designation – held by appraisers who are experienced in the valuation and evaluation of all types of properties and also advise clients on real estate investment decisions.  In order to obtain the MAI designation, the appraiser:

• Must be a general Candidate for Designation in good standing for at least 12 months prior to application as well as having good moral character;
• Obtain credit for 4,500 hours of specialized appraisal experience over at least 36 months;
• Attend 388 qualifying course hours;
• Pass 15 examinations testing the appraiser’s knowledge of basic and advanced appraisal principles, cost and income approach, sales comparison, site valuation, market analysis and standards of professional practice;
• Pass a four-module comprehensive examination;
• Pass the 15- hour Uniform Standards of Professional Appraisal Practice (USPAP) course and exam;
• Possess an undergraduate degree from a four-year accredited educational institution; and
• Successfully demonstrate knowledge that complies with strict standards set forth by the Appraisal Institute.

The SRA membership designation – held by appraisers who are experienced in the analysis and valuation of residential real property.  In order to obtain the SRA designation, the appraiser:

• Must be a residential Candidate for Designation in good standing as well as having good moral character;
• Obtain credit for 3,500 hours of residential appraisal experience in not less than 24 months;
• Attend 200 qualifying course hours;
• Pass 10 examinations testing the appraiser’s knowledge of appraisal principles and procedures, cost approach, site valuation, market analysis, report writing and standards of professional practice;
• Pass the 15-hour Uniform Standards of Professional Appraisal Practice (USPAP) course and exam;
• Possess an associate degree from an accredited educational institution; and
• Successfully demonstrate knowledge that complies with strict standards set forth by the Appraisal Institute.

To obtain more information regarding the certifications and designations held by each of our real estate appraisers as well as their resumes click here.

Henry+Horne

Comments

  1. Mrs. Jeny says:

    The expertise of a well-credentialed real estate appraiser who is knowledgeable about the property type and market area is particularly valuable when making sound decisions regarding real property.