Cnarea
Unit #1 97 Hanna Court S K8P 5H2 Belleville, ON, Canada

Covid-19 Update Virtual Inspections As parts of the country begin to make plans to ease some of the Covid-19 restrictions we still see some locations where infections continue to advance. During this time of uncertainty of what our new normal will be as we emerge from the current situation, we are still looking for new ways to service your clients by providing credible, timely valuations. Various groups across the valuation industry have developed some new tools to help yo...u in your appraisal business, and we wanted to pass along some information to you. You may find these helpful in gathering information on the subject property, so that you can stay safe and continue to provide professional opinions of value to your clients. Although the industry continues to evolve, with new tools and initiatives coming out weekly, here are three products that we have become aware of that may help you. Please check these out and see if one of them fits your business model and consider adding them to your toolbox. ANOW has introduced a product known as: anow walkthrough. An easy breezy homeowner inspection tool, designed to help appraisers when they cannot get inside a property Bradford Technologies has developed a tool being marketed at OnSight Keeping appraisers safe in uncertain times. AppRazr has developed a tool called PropertySpecReport This app is changing the appraisal industry. It is of particular note that AppRazr has been developed by one of our own members, Brad Cable DAR-Certified Appraisal Reviewer. Help your business, and your clients by checking out these products and see which one best fits your business model. Let’s continue to support each other through the Covid-19 Crisis. If you have any questions or concerns, please let me know. Rob MacDonald DAC-Certified Appraisal Reviewer, ASA CEO

To all members; As we continue to experience the Corona Virus across Canada, we are seeing some areas of the country seeing cases greatly reduced, while other areas are still locked down and some areas seeing a rebound of case numbers. National and Provincial Health Authorities are all in agreement that a second wave is virtually a guarantee, and we need to remain vigilant in Social (Physical) Distancing, personal hygiene, and the use of appropriate PPE. Provinces are slowin...Continue reading

We have an exciting announcement for all of our Candidates! We will be hosting online Q & A Zoom sessions with CNAREA instructors. These newly organized Zoom sessions with three of our instructors is available to Candidate & Candidate Non-Fee members only.* Only English speaking instructors are available during these sessions, at this time.... Please join us during our scheduled Zoom sessions that we are making available, to ask and inquire about any appraisal questions (courses, reports, etc.) that you may have. Since there has been a downturn in assignments and rescheduling of our boot camps, we wanted to provide this opportunity to help keep our candidate members informed and to stay connected with our education department. Since we will not be offering in-class courses in the near future, where you would normally be able to learn and ask some pressing questions you may have, we wanted to create a space (dedicated to answering your questions only) to assist with your path with becoming a designated appraiser. Please select 1 ‘ticket’ (zero cost), then follow the prompts on the following pages (it will act like a regular course checkout, without getting to the PayPal screen). You will receive 3 automated confirmations of your registration once you’ve completed all the steps. After we receive confirmation (automated once you’re registered) that you are registered, we will email you the Zoom invitation for the selected date. *The option to reserve a space for the scheduled dates will close two business days before the session begins. There will be room for 20 people per session.* Please go to the event date within our calendar to register. Sessions start at 3:30PM 5:00PM EST. You will find the available sessions scheduled for the following dates: May 20, June 3, June 17, July 8. May 20 Registration: https://www.cnarea.ca/event/online-qa-may-20/ June 3 Registration: https://www.cnarea.ca/event/online-qa-june-3/ June 17 Registration: https://www.cnarea.ca/event/online-qa-june-17/ July 8 Registration: https://www.cnarea.ca/event/online-qa-jul-8/ We hope to see you there!

May 6th , 2020 To all Members: This week Provincial Governments and Health Authorities are revealing re-opening plans for their provinces and economies. The gradual measured steps vary from Province to Province which can cause difficulties for national industries. There are however common themes in all areas of the country with Physical Distancing remaining in affect. ...Continue reading

To All Members: We are seeing across the country Provincial Governments and Health Authorities release lists and orders that outline essential services. Effective today the Province of Manitoba released the following: https://www.gov.mb.ca//p/2019_2020/orders-soe-03302020.pdf... As with other provincial guidelines Real Estate Services are included as essential service, please refer to number 66 of the Schedule included in the order from the Minister of Health, Seniors and Active Living. Despite being listed as an essential service all Physical / Social Distancing protocols should be adhered to to protect the safety and health of homeowners, appraisers and their families. We continue to stress that the risk of coming in contact with someone that has COVID-19 or unknowingly passing it on to a homeowner can be devastating to the appraiser, their clients, and the industry as a whole. As such, appraisers should refrain from entering homes to obtain interior information. We recognize that information and protocols are changing rapidly and that staying on top of things can be extremely difficult. The Small Business Help Centre at the Canadian Federation of Independent Business website is one resource that we have found to be excellent. It offers FAQs, Government Sources of Relief and Support (by province), Public Health Information (by province), and Co-Vid warning and notice templates. The link is below: https://www.cfib-fcei.ca//small-business-resources-dealing We will continue to pass along information that we think will be helpful to you and your business during these challenging times. Please stay safe and healthy.

To all Members: There has been a recent communique sent to appraisers with respect to comments regarding Loan-To-Value Statements/Comments in appraisal reports, particularly in those situations where there has been no interior viewing of the subject property. We would like to remind ALL CNAREA Members that comments with respect to LTV are the responsibility of the lenders, NOT the appraisers. LTV is not an appraisal concept, nor the appraisers’ responsibility. ... Being requested to complete a Market Value Opinion appraisal report is not influenced nor reflective of any LTV discussion. CNAREA Members are reminded that there should not be ANY comments pertaining to LTV within your appraisal reports, comments to clients, or their representatives. If you have any questions or concerns, please let me know. Rob MacDonald DAC-ASA/Certified Appraisal Reviewer CEO - CNAREA

Co-Vid Update #10 To all members: Provinces continue to take increased and ongoing measures with the Government of B.C. following other provinces in issuing a list of essential services on Friday afternoon. As in the cases of Ontario and Quebec appraisers were not specifically listed. In Ontario we did confirm with the Premier’s office that appraisers were included in Banking and related activities. When B.C. posted its essential services list Friday afternoon, we made a numb...Continue reading

To all Members: We have some news to pass along to all members with respect to Membership and Insurance Renewals for the 2020-2021 Membership Year. Although due to a number of claims against our insurance program which resulted in significant payouts, we have had to increase the Insurance Premiums for the 2020-2021 Coverage Year across the board by 10%, we are thankful to Sovereign General for their continued support of the CNAREA E&O Program. ...Continue reading

March 24, 2020 To all Members: As of midnight tonight, Tuesday March 24, 2020 both Ontario and Quebec have introduced restrictions on activities and have created Lists of Essential Workplaces. (Ontario List of Essential Workplaces) (Quebec List of Essential Workplaces).... It is our understanding that appraisers are part of the essential services provided by the banking industry. In the Ontario List of Essential Workplaces, Section #31 Banking & Activities related to Credit Intermediation, and the Quebec Listing for Banking and Financial Services lists, in part: services related to financial markets, would include the appraisal of real property for lending purposes. We want to reiterate our caution to appraisers that contact with occupants of a dwelling, etc. is to be totally avoided, and interior inspections of properties should not be carried out. The major national lenders have adopted this policy and understand the increased risk to the appraisers, as well as to the occupants if interior inspections were carried out. Please ensure that you comply with all requirements of the USPAP, keep your clients’ informed, and update AMC Portals on a regular basis as has been communicated to you by the various AMCs. While the office staff are working from home, we are all receiving emails and phone calls at our usual numbers. Please don’t hesitate to contact us if you have any concerns.

2020 Annual Convention September 14th 18th, 2020 Collingwood, Ontario With recent events regarding COVID -19 we want to provide members, sponsors, and potential attendees to this year’s conference an update. ... Arrangements are underway and moving full steam ahead. We are currently finalizing the schedule and events although we will not be arranging speakers/panelists until they are able to confirm their attendance. We are looking to have the registration form available by March 31 but naturally with the uncertainty of current events we are constantly reviewing all CNAREA events and courses. We will continue to provide updates, but if you have any questions please do not hesitate to contact Kevin Lonsdale at 888.399.3366 Ext 3. Finally, please stay safe and heed the advice of Governments and Health Authorities. https://www.cnarea.ca/2020-convention-update-1/

***UPDATE #7*** March 23rd, 2020 To all Members:...Continue reading

***UPDATE #6 *** Monday March 23, 2020 Good Afternoon:... With the widening of the spread of the Co-Vid 19 Virus across the country, the announcing of States of Emergency in most Canadian jurisdictions, and deepening of ‘lock-down’ situations, we felt we should provide our members with the following recommendation: At this time and until the Co-Vid 19 Crisis passes CNAREA is recommending that no Members carry out interior viewings of properties. As we have noted in previous communications over the last 4 weeks, you are still able to complete Appraisal Report (full appraisals) assignments, using information obtained from various credible sources, including the occupants of the dwelling, MLS listings, Assessment Information Systems, etc. This will require more extensive interviews of the occupant to try to obtain the most information possible, in order to form your opinion of value. If you are able (and permitted by the authorities) you may still want to view the exterior of the dwelling. Please ensure your reports meet your obligations under the USPAP, clearly state the source(s) of your data, and include any necessary descriptions, explanations, comments, Extraordinary Assumptions, and Hypothetical Conditions. Several Provinces have announced locked-down situations beginning as early as this evening. We are working with Lenders and Provincial Regulators to determine the extent of the lock-down as it affects our members. We will continue to update our members as new information becomes available. As of the end of business tomorrow, Tuesday March 24, we will be temporarily closing our office. We have made arrangements with our IT Staff, and we will be fully operational while working from home, however your patience will be appreciated. Your personal health and safety is our prime concern, please take the necessary steps to ‘Flatten the Curve’, protect your family, and the public. STAY SAFE. Robert MacDonald DAC/Certified Appraisal Reviewer/ASA CEO - CNAREA https://www.cnarea.ca/covid-19-awareness-update-6/

Here is a copy of our most recent Newsletter posted on the website. https://www.cnarea.ca//03/1st-Quarter-2020-Newsletter-2.pdf

SEE USPAP ADVISORY OPINION 7 - (Page 74) As you know it is a requirement of the USPAP that the appraiser make comment with respect to estimated Exposure Time in all market value appraisal assignments. Exposure Time is an expression of the length of time properties were listed for sale prior to the consummation of a sale, which occurred in the past. Marketing Time is an estimate of what is likely to occur in the future. Exposure Time can be easily calculated because you ty...pically have data to support your conclusions, while Marketing Times pertain to future events. Often in a stable market Marketing Time and Exposure Time are very similar. An estimate of marketing time is often an assignment condition, but it is not a requirement of USPAP. The reasonable marketing time is an opinion of the amount of time it might take to sell a real or personal property interest at the concluded market value or at a benchmark price during the period immediately after the effective date of an appraisal. Clients concerned with marketing real or personal properties who obtain a market value appraisal as part of their decision-making process should be aware that it may be inappropriate to assume that the value remains stable during the marketing period. When value is predicated on a marketing time that differs from the subject’s reasonable exposure time the resulting value will not necessarily be market value. To assist our members in developing adequate Marketing Time statements for use in your reports in these volatile times we are offering the following statement framework for use in your reports. Please ensure that you modify the following statement to adequately reflect the subject market area, and the specific appraisal assignment being completed: The comparable sales used in this report had exposure times of XxX to XxX days. Although according to MLS statistics in the subject’s market area, for the subject property type and price range, the average exposure time for the last quarter was XxX days. Based on the previous analysis, the appraiser has concluded a reasonable exposure time of XxX days to XxX days. However due to the recent state of the Canadian economy, States of emergency, the cost and availability of credit, employment uncertainty, and other market forces being impacted by the Co-Vid 19 Virus, it is reasonable to expect a much longer marketing time than what would be indicated by historical exposure times. See more

***UPDATE*** Since our last update to our members on Thursday March 14, we have seen vast changes to the culture in Canada, and changes to how we are all living our daily lives. With the announcements of school closures, flight restrictions, increased testing, and the doubling of positive cases in Canada over the weekend, we can all acknowledge that this is a very fluid, fast moving situation. With this in mind, and in the context of the announcements today by the Federal an...Continue reading

Good Morning: We received a call from one of our lending partners asking for clarification on dealing with a situation where an appraiser may not feel comfortable completing a physical viewing of a property due to concerns with respect to the COVID-19 Outbreak. I want to remind all our members that their personal safety has always been, and will continue to be our prime concern. If you do not feel safe and comfortable completing a physical viewing of a property due to COVID-...19, or any other unsafe condition you have the right, and the responsibility to suspend the inspection, contact your Client, or the AMC as is the case, and work with them to determine the next steps. It is the appraisers’ responsibility to determine the appropriate reporting format for a given assignment, and that can include requesting the client modify their requirements so that a drive-by viewing of the property, or completing a desk-top type of assignment would be appropriate. Please keep in mind that the requirements of USPAP must be upheld in all cases, and regardless of the reporting format, you must have sufficient credible data to form your opinion of value. In the event that you feel it is not prudent to physically view a property, please notify your Client or AMC through their portals, and get clarification on how to proceed. It is NOT APPROPRIATE to state in the appraisal report that the occupant is under quarantine, ill, etc. That has nothing to do with the valuation process. It is appropriate however, and expected to notify the order originator as soon as possible and make suitable arrangements to complete the assignment. Please refer to the CNAREA website (www.cnarea.ca) for regular updates with respect to COVID-19, and consult the Health Canada website ( https://www.canada.ca/en/health-canada.html) regularly to stay current on how best to deal with the outbreak. As always practice sound physical hygiene, wash your hands often, avoid close contact with others and if you feel ill stay home! If you have any questions or concerns, don’t hesitate to contact us. Thank you for doing your part in keeping our communities safe, while servicing your clients as we work through this season. STAY SAFE!

To our members: If you think that you have been exposed to the CoVid-19 Virus at a property where you have completed an assignment, please let us know immediately via phone call (1-888-399-3366 ext. 1) or email if needed: [email protected]. Please do not post confidential information (about the client/client property) on our facebook page if you have any concerns about a property. Contact us immediately. We will advise that you do not continue any more assignments that are schedu...led, and to go to your local Health Center immediately for further advise. We would not want to see any of our members being exposed, or potentially contaminating other properties. We are taking this very seriously and are asking that everyone else does as well. - CNAREA Team

CNA111 CNAREA Ethics Course As part of our initiative to update our educational materials we have rewritten the CNAREA Ethics course to reflect current issues and stakeholder expectations. Over the last two years we have reported to members that complaints have become more frequent. CNAREA takes all complaints seriously and as such we have made the complaint process a more thorough and consistent process. Part of this is reviewing each complaint for consistencies which our in...Continue reading

CoVid-19 Awareness CNAREA is keenly aware of the recent Corona Virus (CoVid-19) outbreak that has made its way to Canada. Although the risk of contracting the virus is minimal at this time, we want to make our members aware of the issue, proper methods to prevent contracting the virus, and what to do in the unlikely event that you come into contact with someone displaying symptoms. Unfortunately, one of our members received a request from one of the AMCs, asking for a full ap...praisal on a property where the homeowner was under quarantine for the CoVid-19 Virus. Obviously, this request should not have been sent, and thankfully our member refused the order. We have been in contact with all of our AMC partners to ensure that this is an isolated incident, and to ensure the request does not get assigned to another appraiser. The Government of Canada (https://www.canada.ca//2019-novel-co/prevention-risks.html) has an excellent website with information on Prevention, Risks, and general information on how the virus spreads. Please review this information regularly and keep abreast of developments and new information and the outbreak progresses. How Coronavirus Spreads: Human coronaviruses cause infections of the nose, throat and lungs. They are most commonly spread from an infected person through: respiratory droplets generated when you cough or sneeze close, prolonged personal contact, such as touching or shaking hands touching something with the virus on it, then touching your mouth, nose or eyes before washing your hands Preventing Coronavirus: There are currently no vaccines available to protect you against human coronavirus infection. In general, the following advice can help reduce the risk of infection or spreading infection to others: stay home if you are sick when coughing or sneezing: **cover your mouth and nose with your arm to reduce the spread of germs **dispose of any tissues you have used as soon as possible and wash your hands afterwards wash your hands often with soap and water for at least 20 seconds avoid touching your eyes, nose, or mouth with unwashed hands avoid visiting people in hospitals or long-term care centres if you are sick Use alcohol-based hand sanitizer if soap and water are not accessible at the time If travelling, it is also a good idea to keep some sanitizer with you for frequent hand sanitizing and wipe down trays and arm rests Stay safe, protect yourself and those you are in contact with by practicing quality personal hygiene! https://www.cnarea.ca/covid-19-awareness/