Mar
11
Thu
Extreme Appraising Valuing CRE in a Down Market
Mar 11 @ 8:00 am – 4:30 pm
Extreme Appraising Valuing CRE in a Down Market

AI 7.0 Hrs.

AIPOINTS – 35.0 Points

BREA APPROVED – 7 Hrs.

ZOOM LOG IN: 8:00 AM PST

CLASS STARTS 8:30 AM PST

CLASS ENDS 4:30 PM PST

ONE HOUR LUNCH 12:00 PM – 1:00 PM PST

ZOOM LOG IN INFORMATION WILL BE EMAILED ON 03/09/2020

Given the possibility of declines in the value of CRE as a result of COVID-19, this seminar will address critical issues, often misunderstood even by experienced commercial appraisers, in valuing property in a declining market.

The seminar will be 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, based on the following circumstances:

  1. The property is 50% vacant in a market experiencing 20% vacancy, thus necessitating the proper measurement of a rent-up adjustment to be incorporated in all three approaches to value the property “as is”.
  2. The market is forecast to experience on-going, but temporary, external obsolescence based on a detailed fundamental market analysis, which will be demonstrated using current methodologies and also incorporated in valuations.

In addition, the case study property also incorporates two other issues that will need to be addressed in the valuations.

  1. One lease at the property was first negotiated when the market was much stronger. The rent for this lease was recently reduced and the term extended, in a so-called “blend and extend” renegotiation, but is still above market, therefore necessitating a “property rights adjustment”.
  2. Another lease includes an apparent higher than market rent due to substantial landlord provided concessions, therefore necessitating a measure of “effective rent” for purposes of forecasting the rent at the time of lease renewal.

All of these issues will be discussed and then analyzed entirely in Excel, although attendees do not need to be an Excel expert to benefit from the seminar.

 

Apr
14
Wed
Market Analysis in Volatile Markets
Apr 14 @ 8:30 am – 4:30 pm
Market Analysis in Volatile Markets

 

Photo Verification: REQUIRED
As part of the required attendance monitoring, all students need to provide the Chapter Office with a copy of your Driver’s License in advance of the offering.

  • Simply take a picture of your DL with your phone or send a scanned copy to [email protected]
  • Registrants who have not yet forwarded their photo IDs will be ineligible for credit and will be prohibited from attending the seminar

Experiences

Seminar Materials Include:

  • Seminar Handbook (191 pp.)

Cancellation Policy

Up To 15 days prior to program start date, $50.00 cancellation fee.

2 – 14 days prior to program start date, $100.00 cancellation fee.

Less than 2 days prior to program start date, forfeit of payment.

 

Additional Information

Zoom log in information will be emailed on 04/12/2021

Class starts at 8:30 am

Class ends at 4:30 pm

AI CE: 35 Points

Class Time: 7 Hours

APPROVED: BREA CE 7 Hours

Disclaimer Information

Enrollment is on a first-come, first served basis. If the event is filled, a waiting list will be retained. The Southern California Chapter reserves the rights to cancel, limit, or reschedule this event if the minimum enrollment level is not reached, and to change faculty assignments and facility locations at any time. Prospective students should confirm their registration before making any non-refundable airline reservations. There are NO transfers; you must cancel out of the offering.

ATTENDANCE

The Appraisal Institute enforces attendance requirements mandated by state licensing and certification regulatory agencies. The Appraisal Institute issues certificates for state certification/licensing or state continuing education credit that verify successful completion and attendance of 100%, with your grade notification letter for courses, or at the conclusion of seminars. One hundred percent (100%) attendance is required for all Appraisal Institute education programs. This follows Appraiser Qualification Board minimum criteria requirements.

PREREQUISITES

Some classes have prerequisites. Be sure to read the course description to find out if there are any prerequisites for this course.

REQUIRED TEXTBOOKS

Some classes have required textbooks. Be sure to read the class description to find out if there are any required textbooks for this course. There will not be any textbooks for purchase at the class. You must buy them ahead of time. If you arrive for a class without the required textbook credit for the class cannot be given and there will be no refund.

REQUIRED EQUIPMENT

Some classes require you bring a laptop and or other equipment. Be sure to read the class description to determine if any equipment is required. You are responsible for bringing your own extension cord(s). None will be provided. Please safeguard your equipment and personal belongings at all times. The Appraisal Institute, the Southern California Chapter, the Instructor or the facility will not be responsible for any loss of your personal belongings.

CLASS MATERIALS TO DOWNLOAD

 

Some classes are now available with downloadable materials. If you opted to download class materials instead of having them shipped to you, you will be required to bring the materials with you on a laptop or as a hard copy. If you do not have the materials with you credit for the class cannot be given and there will be no refund. Copies will not be available to you in the class. You are responsible for bringing your own extension cord(s). None will be provided.

 

ADA COMPLIANCE

 

It is the policy of the Appraisal Institute to provide reasonable accommodations for qualified persons with disabilities who are participating in Appraisal Institute educational programs. If you need accommodations to participate because of a disability, please notify us in writing at least two weeks in advance of the program and we will arrange for reasonable accommodation. Without two weeks’ notice, accommodation may not be available.

COMPLETION CERTIFICATES

For scannable exams, written notification of results will be sent to the examinee approximately 15 business days from the date of receipt of the exams at the national office.

Certificates of completion for continuing education will be sent to the student in approximately 15 days from the date of the class. Express Grading is available. For more information contact the national office at (312)335-4207.

Program materials can be downloaded by the student.

National Disclaimer

Virtual Education Exception

Please note that not all states have approved Virtual education, therefore, registrants MUST CHECK their individual states for approval BEFORE registering for the Program. Before registering for the Program, registrants understand and agree that continuing education credit for this program MAY NOT be available in their state on the date of the Program. The Appraisal Institute is not responsible if credit is not available for the Program in individual states. Please note: State exceptions for virtual education may expire PRIOR to the offering date.

State Credit

Please note that 100% attendance is required in order to receive any approved state credit or to be awarded AI CE points. It is imperative that you check with your state board for state approval information before completing registration.

Other Information

If you have a disability and require accommodation, please notify the sponsor at least two weeks in advance for reasonable accommodations to be arranged.

The Appraisal Institute reserves the rights to cancel, limit, or reschedule the program and to change instructor assignments and facility locations at any time.