Monday, May 31, 2010

Vernon Martin Wins Appraisal Institute Award for Article in The Appraisal Journal

The following announcement was made in the Spring 2010 issue of The Appraisal Journal, the peer-reviewed publication of the Appraisal Institute, by the Journal's editorial board:

Vernon Martin, CFE, is the winner of the 2009 AIET Armstrong/Kahn Award and a $1000 honorarium for his article, "Preventing Fraud and Deception," published in the Spring 2009 issue of The Appraisal Journal.

The AIET Armstrong/Kahn Award is presented by the Editorial Board for the most outstanding original article published in The Appraisal Journal during the previous year. Articles are judged on the basis of pertinence to the appraisal practice; contribution to valuation literature; provocative thought; thought-provoking presentation of concepts and practical problems; and logical analysis, perceptive reasoning, and clarity of presentation. This award is funded by the Appraisal Institute Education Trust.

In his article, Martin focuses on common methods of deception used in fraudulent schemes involving commercial properties and land, including deceptive purchase agreements; deceptive financial statements; misrepresentation of occupancy or tenancy; misrepresentation of property characteristics; undisclosed conditions negatively affecting value; and unrealistic projections of sales, income, or expenses.

Vernon Martin is the principal and founder of American Property Research, a real estate advisory and appraisal firm in Los Angeles, and has been a practicing commercial appraiser since 1984 and a certified fraud examiner (CFE) since 2004. Martin has served as the chief commercial appraiser at three national lenders and also teaches real estate valuation part-time at California State University, Los Angeles. He has studied at the College and the Graduate School of Business of the University of Chicago, and he received his master of science degree in real estate from Southern Methodist University's Cox School of Business.