ISTAT News | Wednesday, April 22, 2020
ISTAT Appraisers Program COVID-19 Information
Dear ISTAT Members,
First and foremost, I hope this finds you safe and healthy during these challenging times.
In order to provide relevant and critical information to the ISTAT community, the ISTAT Appraisers Program (IAP) recently conducted an on-line survey to ascertain what kind of actions and respective timing each appraisal firm might be undertaking to provide any COVID-19 related market developments and guidance. The main goal of this exercise was to allow for greater visibility and transparency on how best to unpack the information you receive from the appraisal community and how best to use it for your own analysis.
The survey responses were captured the first two weeks of April and are a point in time snapshot. It is important to note that this is purely for informational purposes, and is being provided as high-level guidance and should not be considered definitive in nature. Given that we are in unprecedented times, we expect the market to be and will remain fluid for the foreseeable future.
We also queried each firm as to their respective thoughts on specific aircraft types and how this challenging market might influence both Base and Market values overall. The chart is not exhaustive for all types, but does highlight those types that would be of the most interest, and where we as an industry share the greatest current exposure. The summary of responses may be found at the link below.
Additionally, you will find a link below for the specific response of each individual appraisal firm along with their contact details. All of the surveyed firms have been through previous industry downturns, and can be a trusted resource of historical precedent, and guidance, for what may feel like an uncertain future. I encourage you to stay in contact with the community of ISTAT Certified Appraisers as views may change should the current circumstances continue longer than expected.
Should you have any questions about this survey or the ISTAT Appraisers Program, please do not hesitate to contact the IAP Executive Director, Jeff Straebler, at firstname.lastname@example.org.
Chair, ISTAT Appraisers Program