Legislative Update with Jay Kruse

​Looking for your input on the current appraiser situation in North Dakota as we prepare for a conversation with the ND Real Estate Professionals. 

Good Morning,

Let the spring thaw begin – March Madness has begun! The SD Legislative session has essentially wrapped up, it’s in the 60s here in Sioux Falls this week, and the NCAA Tournament officially tipped off last night in Dayton, OH with two “First Four” games taking place. So don’t forget to fill out your brackets before the SD State Jackrabbits take on the Providence Friars at 11:40 a.m. CT on TruTV! Go Jacks!

North Dakota Real Estate Professionals Summit
Later this month, I will be attending the ND Real Estate Professionals Summit in Bismarck, hosted by the ND Appraisers Association. The appraisers have outlined four specific objectives of this meeting:

1. Provide a better understanding of the appraisal profession for organizations that utilize valuation services.
2. Discuss practical solutions to challenges facing the appraisal profession.
3. Establish working relationships with other organizations within the real estate profession.
4. Foster collaboration between organizations within the real estate profession to establish common legislative goals that enhance the profession.

I really appreciate the invite to attend this invite-only event to represent North Dakota’s credit unions along with 20-30 other industry professionals from within the state. I have been asked to give a brief credit union industry update, which will include the appraisal related issues that continue to be a challenge.

With that in mind, I would love to hear from you! Please reach out to me and tell me about your recent appraisal/appraiser experiences. With regard to appraiser availability and appraisal timing and costs, is it getting better, worse, or staying the same? This is our opportunity to share our experiences and concerns directly with the state’s appraisal industry and board. We can’t fix all our appraisal related concerns with the wave of a magic wand, but there is one thing we can all do better, and that’s communicate. This is a great next step in the process!

North Dakota Appraisers Association Offering Education for Mortgage Industry
The NDAA Board of Directors is also offering a 2022 Spring Education Event on April 1, 2022 at the First International Bank and Trust conference room in Bismarck, ND. Real estate markets and residential appraisal requirements have changed significantly due to market volatility and increased oversight, which has left residential appraisers searching for new strategies to handle their appraisal assignments.

This seminar revisits valuation fundamentals and illustrates why you need data collection and analytical skills more than ever. Register here. There is a required textbook which you may purchase here.

Location: First International Bank and Trust, 1601 N 12th Street, Bismarck, ND. Rooms are available at the La Quinta Inn & Suites located at 2240 N 12th Street. Room Rates: $75 per night, call 701-751-3313 ask for the NDAA Room Block by March 24th.
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I hope to hear from you about appraisals. If you have any questions about these or any other association or advocacy related topics, please don’t hesitate to contact me.