Real Estate Journal — Financial Digest — Appraisal — September 14 - 27, 2018— 5A


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The Virginia Commonwealth Chapter Presents:

September 20, 2018 » Valuation Resources for Solar Photovoltaic Systems * This class will focus on solar photovoltaic system information that will bridge the gap of knowledge not already offered in educational offerings today. Participants are encouraged to take additional educational offerings to acquire sufficient background in this growing topic to produce a credible appraisal report.

» 3Q 2018 Chapter Business Dinner Meeting October 9, 2018 » Valuation by Comparison: Residential Analysis and Logic *

This seminar revisits valuation fundamentals and illustrates why you need data collection and analytical skills more than ever. The seminar uses and is based on the 2018 updated 2nd edition of Valuation by Comparison. You’ll learn why clients need an appraisal, why you must have appropriate market data, and why it is imperative that you know your market. You’ll discover how to find the information you need in markets where data is scarce, inconsistent, or misleading. And you’ll explore techniques to accurately interpret and then anticipate the actions of buyers and sellers in today’s market. October 16, 2018 » 2018 VCCAI Social Event – Scott’s Addition: Brews & Values October 17, 2018 » Evaluating Commercial Leases: The Tenant and the Terms Both Matter * This 7-hour seminar introduces participants to how the terms of a lease and the risk profile of the tenant influence the valuation of commercial real estate. Participants will see how the business features of commercial leases affect the quantity and the duration of the income stream that a property will generate and the development of the property’s income statement. Non-traditional sources of income, the proper period to use in measuring the income, measuring the real vacancy rate, expenses that might not be recoverable by a landlord if a CAM formula is incorrect, and how other special clauses in a lease can all affect the property’s income stream will be examined. The second part of the seminar discusses tenant credit risk issues and explains why understanding a tenant’s financial strength is key to assessing the quality of the income stream. October 22-26, 2018 » Advanced Market Analysis and Highest & Best Use * 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 studies that were applied in General Appraiser Market Analysis and Highest & Best Use, you will perform Level C marketability studies using fundamental demand analysis and study several real estate markets in a fictional city. The economic base of the community is explored, and it is used as the subject and example for both physical and economic forces that affect all communities and consequently all real estate. The remainder of the course consists of four case studies (apartment and condominium conversion, retail, industrial, and land with potential for mixed-use development) that are intended to demonstrate both the power of fundamental market analysis and its application to highest and best use decisions. November 15-16, 2018 » Residential Report Writing and Case Studies * This course engages appraisers in practical writing exercises necessary to produce convincing appraisal reports in daily practice. Course objectives are achieved through the discussion and application of residential valuation procedures, grammar rules and writing techniques, and specific writing assignments based on a residential case study. Participants will practice writing effective narrative comments for form appraisal reports and learn how to explain valuation procedures and conclusions to users of reports. The techniques applied in this course are useful in real-life situations that complicate routine assignments. December 7, 2018 » Solving Land Valuation Puzzles * Learn how to solve a variety of land valuation and feasibility problems using less commonly used land valuation techniques in this one-day seminar. Interactive case studies and discussion topics cover highest and best use considerations, land residual analysis, contamination, impacts of tax increment financing on feasibility, condemnation, subdivision analysis, unit of comparison selection, and alternatives when inadequate land sales exist. Problem identification, assignment conditions, scope of work decisions, and standards of practice are reviewed in each problem and solutions are discussed. Lively class discussion and interaction will result as problems are explored. REGISTER TODAY! http://www.myappraisalinstitute.org/education/VirginiaCommonwealth.aspx

2018 Officers and Directors

336-297-9511 vccai.education@gmail.com www.vccai.org @virginiacommonwealthchapterai

Congratulations! 2018 New Designees

Rob Duke, MAI, AI-GRS 2018 Chapter Secretary

Woody Fincham, SRA, AI-RRS 2018 Chapter Treasurer

Heather Placer, MAI, SRA 2018 Chapter President

Nancy Dove, MAI, SRA 2018 Chapter VP

 Brian A. Korach, MAI – Richmond  Wesley Woods, MAI – Madison Heights

2018 Directors: Will Sanford, MAI; Billy Hansen, MAI; Kelly Yeatts, MAI; Todd Ohlerich, MAI; Dan Bird, MAI, SRA; Vicki Bridger, SRA

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