Nuances of Valuation

This program will focus on developing and communicating a credible market analysis that is the underpinning of Highest and Best Use conclusions. It focuses on the nuances of the Eminent Domain arena for whole and partial takings, a specialized area within real estate appraising. It requires competency and knowledge whereby both the private and public entities are treated fairly. The appraiser is to provide sound market information which is analyzed using peer tested and industry approved methods and techniques. The result should be credible opinions and conclusions. 

Residential and non-residential appraisal services provide an expertise that client and intended users rely upon to estimate a market value of real property rights in older established communities, rural areas, and dynamic high density areas throughout the Commonwealth of Virginia. The core concepts discussed in this program are relevant over a wide geographic area. 

The program addresses what is meant by a supportable and credible “Highest and Best Use” analysis, a critical step in the development of market value appraisals. Market analysis findings and conclusions extend to all three approaches to value as well as the reconciliation process. This short program will help attendees prepare to develop and communicate meaningful assignment results that meet USPAP’s minimum requirements. 

The program stresses the need to understand and adequately describe the Subject and its market and how this is essential in developing a credible Highest and Best Use analysis. Evaluating the strengths and weaknesses of the Subject’s market demand and supply is critical to estimating market value.  This analysis is the springboard to the three approaches to value. This process is capsulized in the Six Step process. 

An appraiser draws upon his/her educational training and experiences. Credible conclusions are used by clients in a wide range of areas from lending and investing to matters being litigated in the court system. The certified, licensed or registered appraisers must adhere to the Uniform Standards of Professional Appraisal Practice which sets forth minimum requirements. Checking a box or minimally addressing this issue is not adequate. This program will help practitioners meet and exceed the minimum expectations of the marketplace. 

The program is interactive blending general discussion with examples to help attendees understand core concepts and get an introduction to applying techniques to meet and exceed industry standards. 

The program will be challenging for both the new appraisers as well as the seasoned practitioner. The goal is to enhance the attendees skills to prepare well documented and supported Highest and Best Use analyses when estimating market value and more specially Fair Market Value in the condemnation arena.