Junction Education 2025

JUNCTION EDUCATION SCHEDULE for 2025
Income Approach for General Appraisers, Part II	A330	July 28-31	$769 ASFMRA Members; $999 Nonmembers

ONLINE REGISTRATION

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Non Member: I am not a ASFMRA member.

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If you will be paying by check, please make checks payable to Texas Chapter ASFMRA and send to PO Box 154, Junction, TX 76849.

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Cancellations with full refunds can be made through Monday, May 27th by contacting Carmen Bierschwale at info@txasfmra.com or call (325) 446-6169. After that date, refunds cannot be guaranteed. Fees are forfeited for non-attendance.

Hotel accommodation and travel arrangements are the responsibility of each individual.

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EDUCATIONAL FACILITY

Junction First Presbyterian Church Fellowship Hall | 201 S 11th Street, Junction, TX 76849

The Fellowship Hall has been renovated to include audio/visual technology. It is separate from the church sanctuary. You will NOT feel like you are in a church environment. There is a full kitchen which we will use to provide breakfast, coffee, lunch and refreshments throughout the day. Meals are included in the registration fee.

MEALS

The Texas Chapter tries to help students with the fees associated with attending a week-long course. There will be breakfast and lunch provided on all four days of the class. Plus, we will host a dinner on one of the evenings.

HOTEL INFORMATION

Holiday Inn Express & Suites

304 Dos Rios Drive, Junction, TX 76849 | (325) 215-4377

Ask for the “Texas Chapter ASFMRA” hotel block. The group rate is $120/night plus fees.

Carmen does have suggestions for places other than the hotel. There are cabins and VRBO homes available if you are looking for an alternative. Junction is a great place to visit, and we have a lot of tourism during the summer. Check out the website if you would like to consider a mini vacation with your education! www.junctiontexas.com

FLIGHT INFORMATION

Junction is located 2 hours from the Austin-Bergstrom (AUS) airport and 1.5 hours from the San Antonio International (SAT) airport. As we get closer to the event, the Chapter can provide a list of registered students. Sharing a rental car may be a viable option.

INCOME APPROACH FOR GENERAL APPRAISERS, PART II (A330)

The course includes an overview of the income approach, computing financial rates, and an in-depth examination of discounted cash flow analysis (DCF). The course covers principles of discounted cash flow analysis, application and common errors in discounted cash flow analysis, and culminates with discounted cash flow case studies. Students will also delve into the relationships between rates, learn about the concepts of discounting and net present value, and engage with drill problems to enhance practical understanding. Procedures and application of yield capitalization, cash equivalency and mortgage analysis, and valuation of lease interests are also topics that are explored. This course is designed to provide students with a deep and practical understanding of income-based valuation methods for property appraisal.

Please Note: This course is designed to follow Basic Appraisal Principles and Basic Appraisal Procedures. It is assumed the student has already gained the level of knowledge and understanding that is taught in the lower-level classes.

Required Equipment: HP-12c, Hp-17bII or HP-19bII calculator

Suggested Textbook: Valuing Rural America-Foundations of Data Analysis; The Dictionary of Real Estate Appraisal; The Appraisal of Real Estate

Contact Hours: 27 hours + 3-hour exam

Course Timetable: Days 1-3: 8 AM – 5 PM; Day 4: 8 AM – 4 PM

AQB Licensure Requirement: Certified General

INSTRUCTORS

Mark A. Lewis, ARA, RPRA has been engaged in the real estate appraisal and consultation profession since 1984. He has a bachelor’s degree in business administration from Sam Houston State University. Mark began his appraisal career as a contract appraiser for Dickerson-Seely & Associates, Inc., a full-service appraisal firm in Lufkin, Texas. Today he and Scott Seely own and manage the firm, now known as Lewis & Seely Appraisals, Inc.

Mark joined the American Society of Farm Managers and Rural Appraisers (ASFMRA) in 1996 and earned his ARA designation in 1999 and his RPRA designation in 2014. He has served ASFMRA as President of the Texas Chapter, Chair of the Appraisal Education/Accreditation Committee, and District V Experience Review Chairman. In 2014, Mark was appointed to the Appraiser Qualifications Board (AQB) of The Appraisal Foundation and served as Vice Chair of the AQB in 2015-2017 and Chair from 2018-2021. On a local level, he has also served as President of the Lufkin Multiple Listing Service and Chair of the Grievance Committee for the
Lufkin Association of Realtors.

Mark is an AQB Certified USPAP Instructor and has been the lead instructor and author for many
qualifying and continuing education courses. In 2007, he was awarded the H. E. “Bulk” Stalcup
Excellence in Education Award by ASFMRA. Mark and his wife Alica have two children and two
grandchildren.

Nathan L. Tonne, ARA, MAI has been employed by Bierschwale Land Company since May 2012. Nathan earned his MAI designation from the Appraisal Institute in May 2016 and his Accredited Rural Appraiser (ARA) designation from the American Society of Farm Managers and Rural Appraisers (ASFMRA) in June 2018. Nathan grew up in Breckenridge, Texas and attended Texas A&M University, earning a bachelor’s degree in Agribusiness and a master’s degree in Land Economics and Real Estate (now Master of Real Estate) from the Mays Business School. Nathan has been involved in various types of valuation over his career, including farm and ranch, special use and eminent domain projects. He resides in Junction, Texas with his wife, Ashley and son and daughter. Nathan is active in several volunteer organizations, including the Hill Country Fair Association, and is a member of the Nominating Committee of the ASFMRA, along with serving as the District V YPN Representative.

Justin P. Bierschwale, ARA, MAI graduated from Texas A&M University in December of 2002 with a Bachelor of Science in Agricultural Economics (Farm & Ranch Management option). He then obtained a master’s degree in Land Economics and Real Estate (now Master of Real Estate) from the Mays Business School at Texas A&M University in May 2004. Since 2007, he has been a business partner with his father Paul, and brother Aaron in Bierschwale Land Company, LLC, located in Junction, Texas. He has spent most of his appraisal career handling complex appraisal assignments across the country.

Justin was the chief writer of ASFMRA’s core textbook entitled Valuing Rural
America: Foundations of Data Analysis. He has been an active participant in appraisal education
including the writing of numerous core and continuing educational programs, serving as a subject
matter expert for the Appraisal Qualifications Board for the national certification exam, and serving as
an instructor to more than 1,000 students since 2008. He is the recipient of numerous awards and
honors including being inducted into Texas A&M’s Tyrus R. Timm Honor Registry, receiving Texas A&M’s
College of Agriculture Early Career Award, ASFMRA’s H.B. Stalcup Excellence in Education Award, and
the Henry Long Jr. Appraiser of the Year Award offered by ASFMRA. Justin is married to Carmen
Bierschwale and has three children, Jade, Brock, and Koda.

Mark Lewis, ARA, RPRA, Nathan Tonne, ARA, MAI, & Justin Bierschwale, ARA, MAI are approved instructors with ASFMRA.