Monthly Archives: June 2012

Illinois Rep. Judy Biggert Presides Over Appraisal Oversight Hearing

On June 28th the Subcommittee on Insurance, Housing and Community Opportunity, Chaired by Rep. Judy Biggert (R-Illinois) held a hearing entitled “Appraisal Oversight: The Regulatory Impact on Consumers and Businesses”.  Among the witnesses at the hearing were Ms. Sara Stephens, MAI, President of the Appraisal Institute and Ms. Karen J. Mann, SRA, ASA, who was there on behalf of the American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers (NAIFA).

The meeting, which dealt with whether or not regulators should take actions to strengthen appraisal oversight could be viewed by clicking here.

ICAP’S 2012 Mailer is Out!

Be on the lookout in your mailboxes for ICAP’S 2012 mailer that highlights ICAP’s summer seminars.  Every licensed appraiser in Illinois should be expecting this postcard in the mail which features a promotional code (ICAP) that allows new members to join ICAP for 50% the regular price (for the remainder of 2012).

This year’s location and dates are as follows:

Springfield – Monday, July 9th

Godfrey – Monday, August 6th

Lisle – Monday, August 13th

You can register for the seminar at

ICAP is Holding a Membership Drive

Tell your friends and colleagues, ICAP is holding a membership drive that allows new members to join ICAP for the remaining part of 2012 for 50% the regular price by using promo code WIND.

As part of ICAP’s efforts to enhance its membership and visibility it has developed a radio campaign that will air a 30-second message over a four-week period in the Chicagoland market.  The campaign includes a promotional code (WIND) that will allow new members to join ICAP for $30.00.

The promotion will air for four-weeks beginning Sunday July 1st on WIND AM 560; however, you could preview the promotion by clicking the following link: Radio Promo Spot for ICAP Membership.

Join ICAP today and qualify immediately for discounts on ICAP’s summer seminars, appraisers can register for the seminars at

ICAP Member Featured In the Chicago Tribune

In a June 01, 2012 Chicago Tribune Article titled Understanding the Square Footage of Your New Home” Erik J. Martin writes that all square footage is not created equal, and that many shoppers blindly trust that the size of a new home featured in an ad or brochure is accurate.

The article states that real estate appraisers calculate the Gross Living Area (GLA) as the total finished, walkable and heated area above grade, as measured along the building’s exterior; the article goes on to say that completed areas below grade, such as finished basements, are not included in the GLA.

Bruce Wittman, SRA, ICAP member and partner with Papineau Wittman Group in Joliet contributes to the article by stating that “In my market area, builders are pretty accurate in the square footage they provide, and that builders will sometimes include finished areas below grade in split-level or bilevel houses, whereas an appraiser can only include those areas above grade in the Gross Living Area. In this case, the finished area below grade would be given value in a different part of the appraisal report.”

To read the full article click:

ICAP Launches YouTube Site

YouTube is ICAP’s latest entry into the social media space, joining their Blog, Facebook, Twitter and LinkedIn sites.

ICAP would very much appreciate it if you would “Like it” on YouTube, and if you have attended one of ICAP’s seminars, please share your comments on your experience.

ICAP’s first YouTube video featuring ICAP’s 2011 Lisle Seminar:

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