***THIS WEBSITE IS CURRENTLY UNDER CONSTRUCTION***

The Vermont Association of Professional Real Estate Appraisers is an organization has been created to help real estate appraisers statewide communicate about issues affecting our business. Due to the recent problems in the lending practices of banks and mortgage companies, we are in for a lot of regulatory changes that will affect our profession. As these new regulations are developed we will need to speak to these issues as a group in order to provide answers and directions for our legislators. We need to step up to the plate as there are many things we can do to improve the real estate appraisal process in Vermont.

Now is the time for appraisers throughout Vermont to work together! Please join your fellow appraisers by sending in your membership application and dues now! We can make a difference in our profession when we work together!
Click here to join.

Most Recent News:

New Courses Posted!
Please visit the Continuing Education section for updated info about recent course offerings.

Housing Appraisals: Still Blowing Bubbles?
Third party appraisal managers are supposed to eliminate pressure from lenders to inflate housing values. But unscrupulous subprime players are crowding into the market. Please visit the News section to continue reading.

U.S. House Passes H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009
Earlier today, the U.S. House of Representatives passed by a vote of 300 to 114, H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009. Included in this bill is a lengthy title that contains many favorable provisions for the appraisal profession Please visit the News section to continue reading.

Jim Amorin, MAI, SRA to Testify Tomorrow Before the House Committee
Jim Amorin, MAI, SRA, President of the Appraisal Institute, will testify tomorrow afternoon before the House Committee on Financial Services' Subcommittee on Financial Institutions and Consumer Credit at the Subcommittee's hearing on mortgage lending reform. Please visit the News section to continue reading.

AI Connecticut Chapter Testifies Before Legislature on AMC Bill
On February 5, the Connecticut Chapter of the Appraisal Institute testified before the state legislature’s Joint Committee on General Law regarding a bill that would prohibit the payment of a fee for an appraisal to anyone other than a licensed or certified appraiser. While not explicitly stated in the legislation, the impact of the bill would be to prohibit an appraisal management company from taking any portion of a fee that is paid by a lender or a borrower for a real estate appraisal. To continue reading please click here.

Housing Appraisals: Still Blowing Bubbles?
Third party appraisal managers are suppose to eliminate pressure from lenders to inflate housing values. But unscrupulous subprime players are crowding into the market. To continue reading please click here.

Time To Make Sure AMC's Are Regulated in Vermont
The Appraisal Institute has given to a number of states, including Vermont, the following Appraisal Managment Company Registration & Regulation Model Act.  This is a good foundation for AMC regulation in Vermont, but we would like to have more input from appraisers throughout the state.  A few of the questions that have already come up are as follows: What qualifications will the AMC's need to have?  How can appraisers and the public be protected from unrealistic fee structures?  What are fair methods of employing qualified appraisers?  etc.  Please read the attached AMC Registration and Regulation Act and e-mail your constructive comments to Anne Bernhardt akbernie@vermontel.net . To view the Appraisal Management Company Registration and Regulation Model Act, please click here.


AMC's Need to be Regulated!!! (Survey)
In the past 4-5+ years a new industry has been developed to manage appraisal ordering for lenders throughout the country.   These companies are known as Appraisal Managment Companies.   In fact a large portion of appraisal work is now being ordered by AMC's within the state of Vermont and throughout the country. To read more and to fill out the survey, please click here.


Home Valuation Code of Conduct
On Tuesday, December 23rd, the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and the Office of the New York Attorney General released a revised version of the Home Valuation Code of Conduct (now known at the "Appraisal Code"). Please click here to read more and to download the Code of Conduct.


Vermont Appraisal Licensing Information:

The Vermont Board of Appraisers have identified three levels of real property appraisal classification:

  • Licensed Real Estate Appraiser
  • Certified Residential Real Estate Appraiser
  • Certified General Real Estate Appraiser
The Vermont Board of Real Estate Appraisers has established the minimum educational requirements for an appraisal license. The minimum educational requirements include the following:

Licensed Real Estate Appraiser
  • 150 hours of education which must include the 15-hour Uniform Standards of Professional Appraisal Practice Course
  • 2,000 hours experience
  • Pass the state-licensing exam
  • College-level requirements: None
Certified Residential Real Estate Appraiser

  • 200 hours of education (may include 90 hrs above) which must include the 15-hour Uniform Standards of Professional Appraisal Practice Course
  • 2,500 hours of appraisal experience obtained during no fewer than 24 months
  • Pass the state-licensing exam
  • College-level requirements: Associate degree or higher. In lieu of the required degree, 21 semester credit hours covering the following subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Computer Science; and Business or Real Estate Law.
Certified General Real Estate Appraiser

  • 300 hours of education (may include 90 hrs noted above) which must include the 15-hour Uniform Standards of Professional Appraisal Practice Course
  • 3,000 hours of appraisal experience obtained during no fewer than 30 months (1,500 or more must be in non-residential appraisals)
  • Pass the state-licensing exam
  • College-level requirements: Bachelors degree or higher. In lieu of the required degree, 31 semester credit hours covering the following subject matter courses: English Composition; Principles of Economics (Micro or Macro); Finance; Algebra, Geometry or higher mathematics; Statistics; Computer Science; and Business or Real Estate Law; and 2 elective courses in accounting, geography, ag-economics, business management, or real estate.

State Regulatory Agency
Vermont Board of Real Estate Appraisers
81 River Str., Heritage Bldg., Drawer C
Montpelier, VT 05609-1106
(802) 828-3228
http://www.vtprofessionals.org/opr1/appraisers/




PLEASE CLICK HERE TO SEE A LIST OF APPROVED CONTINUING EDUCATIONAL COURSES BEING OFFERED IN THE VERMONT REGION




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