Combining the analytical processes of market analysis, highest and best use, and income valuation, this course is intended for those who have taken and passed the General Appraiser Market Analysis and Highest & Best Use course and have a thorough understanding of the mathematical and financial principles necessary to perform appraisals of income-producing properties. Building on the Level B marketability analyses that were applied in General Appraiser Market Analysis and Highest & Best Use, you will perform Level C marketability analysis using fundamental analysis and study several real estate markets in a fictional city. You’ll explore the economic base of the fictional city, which serves as the subject and example of both physical and economic forces that affect all communities and consequently all real estate. You’ll also work through four case studies (apartment and condominium conversion, retail, industrial, and land with potential for mixed-use development) that demonstrate both the power of fundamental market analysis and its application to highest and best use decisions.
Course Description
8:00 am – Welcome & Introductions
SCCAI General Membership Mtg. & Election
Ernesto Lopez, MAI, AI-GRS – 2025 SCCAI President
William E. Jones, MAI, AI-GRS – IEMTS Chair
Economic Update
Christine Cooper, Ph.D. – Costar Group
Retail Market Overview
Title of Presentation
What’s So Special About Special-Use Properties?
Insight on CA Evidence Code Section 824
Description of Presentation
The evidence an appraiser can rely on for litigation matters can be complex, particularly when the property being appraised involves a special use. In this presentation, Andrew and Eric will discuss Evidence Code 824, its background, the criteria involving what constitutes a special use property, and a case study involving the condemnation of a cross in the Bay area.
THIS IS A SOCIAL EVENT, THERE IS NO AI OR BREA CE
October 9, 2025
Reception 5:30 pm
Dinner & Program 6:30 pm
The Southern California Chapter of the Appraisal Institute warmly invites you to our 2025 Heritage Night. This year we are pleased to celebrate our distinguished honoree, Steven R. Fontes, MAI, CCIM.
Steven R. Fontes, MAI, CCIM is the founder and President of Mission Property Advisors, Inc. in Riverside, a commercial real estate service firm specializing in commercial real estate appraisal, brokerage and expert witness services. The firm specializes in the appraisal of commercial real estate throughout the Inland Empire and greater Southern California region and the brokerage of commercial real estate throughout the western United States.
The firm’s clients include attorneys, lenders, investors, trusts and fiduciaries, school districts, water districts, CPA’s, private parties and a number of cities, counties and State agencies. As a 40-year veteran of the real estate industry, Mr. Fontes has qualified to testify as an appraisal expert witness in multiple Southern California County Superior Courts venues as well as in Federal United States Bankruptcy Court both in and outside of California.
In 2009, Mr. Fontes was honored to serve as the 77th President of the Southern California Chapter of the Appraisal Institute. Additional service to the Appraisal Institute include having served as Education Coordinator in 2001, the Finance Committee in 2001, 2007 and 2008, the Nominating Committee in 2001, 2010, 2013 and 2019, the Office Committee from 2007 to 2011, the Bylaws Committee in 2008, the Website Committee from 2009 to 2011, a Director from 1997 to 1999, Admissions Committee Member from 1994 to 1996, the Summer Conference Program from 1998 to 2000, the 15 – 17th Annual Golf Tournament from 1994 to 1996, Candidate Guidance Committee from 1989 to 1990, and a Regional Representative from 1997-1998, 2000-2001 and 2008-2009. Mr. Fontes also developed the Inland Empire Market Trends Seminar that began in 1998. He chaired or co-chaired the event for the first 8 years, then passed it to the current team of excellent appraisal professionals that have made the event even better, now in its 27th year.
Mr. Fontes was also honored to chair or co-chair Heritage Night in 2009 to honor Tom O’Neil, MAI, in 2011 to honor George Hamilton Jones, MAI and in 2014 to honor Mike Teobaldi, MAI. At the National level, Mr. Fontes served on the National General Appraisal Council Admissions Committee in 2000 and the National Nominating Committee for Region VII as an alternate in 2013.
Mr. Fontes is also a licensed California Real Estate Broker and has been a CCIM designee since 2000 when he embarked on adding commercial real estate brokerage to his growing commercial real estate appraisal practice. He is also a graduate of the University of California, Riverside, having earned a degree in Computer Science in 1987.
Mr. Fontes has enjoyed public speaking on topics related to commercial real estate which he has engaged in 24 times since 1988. He has served in the past on the UCR Planned Giving Advisory Board as well as on the board for the Dikaios Christian Educators Association and the Economic Development Council for the Greater Riverside Chambers of Commerce and is a graduate of the Leadership Riverside program, Class of 2012.
When he is not appraising Steve enjoys snow skiing, kayaking, golfing and traveling. He also learned to surf in Hawaii last year and is proud to say he did so on the same day his 17-year-old daughter and 19-year-old son did. Steven is married to Christine, and they have four children and one grandchild.
|
|
|
|
|
This required 7-hour continuing education course, copyrighted by The Appraisal Foundation, focuses on USPAP requirements for ethical behavior and competent performance by appraisers. The course will help you gain competency in USPAP, and it will help those subject to state licensing or certification and continuing education requirements imposed by professional organizations, client groups, or employers gain competency as well.
Please note that the following materials are required for the course and must be purchased directly from The Appraisal Foundation prior to the beginning of the course. For any questions or issues with orders/delivery: 202-347-7722 or [email protected].
- 2026-27 7-Hour National USPAP Continuing Education Course Student Manual
- USPAP 2024 which includes Standards 1-10
- 2026 Guidance and Reference Manual (GRM) which provides examples showing the applicability of standards in specific situations and offers advice from the ASB for resolving appraisal issues and problems. It also contains the Reference Index which is a highly useful tool that helps appraisers quickly find answers to USPAP-related questions.
Explore advanced applications of the income capitalization approach. Discounted cash flow analysis provides the framework for much of the discussion of investment analysis concepts, emphasizing an understanding of the relationships among the various components of DCF, financial leverage, and risk analysis. Hands-on computer spreadsheet modeling techniques are illustrated.
Note. This course is in the Real Estate Analyst Professional Development Program. View this list of FAQs, which includes information regarding the courses you’ll need to complete the program successfully.
The SCCAI WIN Committee will be hosting its “First Friday” zoom series meeting for August, with special guest Grace Kim, MAI, AI-GRS. Grace is the owner and founder of Craft Valuation, a Seattle-based commercial real estate valuation, review and consulting firm that was founded in 2025. The goal is to facilitate thoughtful, focused conversation about what led Ms. Kim on her path to founding a valuation firm. At this meeting we hope to encourage, guide, share on insights and, hopefully, identify good workplace matches and career opportunities.
Date: August 7, 2026
Time: 12 noon – 1pm
Venue/Location: Zoom
WIN Committee:
Ariana Arredondo [email protected]
Jennifer Hsu [email protected]
Linda Whittlesey [email protected]
This required 7-hour continuing education course, copyrighted by The Appraisal Foundation, focuses on USPAP requirements for ethical behavior and competent performance by appraisers. The course will help you gain competency in USPAP, and it will help those subject to state licensing or certification and continuing education requirements imposed by professional organizations, client groups, or employers gain competency as well.
Please note that the following materials are required for the course and must be purchased directly from The Appraisal Foundation prior to the beginning of the course. Participants who do not bring required materials to the course will not receive AI or state credit. For any questions or issues with orders/delivery: 202-347-7722 or [email protected].
- 2026-27 7-Hour National USPAP Continuing Education Course Student Manual
- USPAP 2024 which includes Standards 1-10
- 2026 Guidance and Reference Manual (GRM) which provides examples showing the applicability of standards in specific situations and offers advice from the ASB for resolving appraisal issues and problems. It also contains the Reference Index which is a highly useful tool that helps appraisers quickly find answers to USPAP-related questions.
Please ensure the program is approved in the jurisdiction(s) you seek credit prior to registration.
| DESCRIPTION:
The 2026 housing market is defined by a persistent stalemate driven by affordability pressures, elevated mortgage rates, and constrained supply, with inflation, labor‑market softness, and rate volatility shaping buyer capacity and confidence. National trends show modest sales gains, but activity remains below normal, while regional divergence has intensified—Northeast and Midwest markets stay tight and resilient, whereas the South and West are softer and more price‑sensitive. California stands out with higher prices, stronger sales, and exceptionally low inventory, fueled in part by luxury‑market demand and AI‑sector growth in the Bay Area. Construction has slowed nationwide, limiting relief to supply, and builders face high costs and weaker demand. Overall, the market is moving, but affordability, locking, and uneven regional dynamics continue to constrain both buyers and sellers. BIO: Reena Agrawal is a Senior Research Economist at Veros Real Estate Solutions, where she analyzes U.S. housing market trends, develops home price and macroeconomic forecasts, and conducts research on a broad range of real estate and housing finance topics. Since joining Veros more than four years ago, she has authored numerous white papers and research publications covering the real estate industry. She also co-hosts Veros’ housing market webcasts and the RiskWire: On the House podcast, where she discusses current market conditions and emerging trends with industry experts. Reena earned her Ph.D. in Economics from Vanderbilt University and her M.A. in Economics from The Ohio State University. She has extensive experience in economic research and quantitative analysis. |