Seminar: Extreme Appraising – Valuing CRE in a Down Market

Given the possibility of declines in the value of CRE as a result of COVID-19, this 7-hour seminar will address critical issues, often misunderstood even by experienced commercial appraisers, in valuing property in a declining market.  It is based on a hypothetical case study property, a multi-tenant office building. The primary focus of the case study is to value the property “as is” and “when stabilized”, using all three valuation approaches.

• Overview of the Case Study
• Purpose and Summary of the Market Analysis
• Addressing Above-Market Lease with a Property Rights Adjustment
• Valuing the Property “As Is” Taking Into Account the Rent Up Adjustment and External Obsolescence
• Measuring Effective Rent for a Lease with Concessions
• Valuing the Property “When Stabilized” Taking into Account “External Obsolescence”
• Reconciliation and Wrap-up

A Special Note About Registering:

• Never attended an Appraisal Institute Offering or not yet updated your password / log-in since October 1, 2019 – follow these simple steps before registering.
• Those seeking credit from states outside of California are strongly encouraged to check directly with their state licensing board(s) to confirm that the specific state(s) will (1) accept virtual / classroom education, (2) accepts education from an out-of-state provider and/or (3) offers reciprocal credit since the offering is approved by the CA BREA.
• This virtual program is approved for 7-hours of Appraisal Institute, BREA and State Board of Equalization (SBE) CEC.
• Instruction will be held via Interactive Technology (ZOOM) and is based on the “live” classroom version that falls under the temporary exemption for virtual / classroom education due to COVID / SIP restrictions.
• It is the student’s responsibility to have the required equipment – dependable Internet access, computer, webcam and microphone, agrees that attendance will be monitored and to to forward their Photo ID/ Driver’s License to the Chapter Office upon completing your online registration.