Webinar Archive

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  The Elusive Overall Cap Rate

  Peter Korpacz

  A good deal of the market price calculation is driven by the buyer's cap rate hurdle, which requires much greater analysis than the seller's basic requirement to get the best price. The buyer's process of developing an acceptable/required cap rate involves the consideration of many property, real estate leasing, and transaction market facts and trends. This webinar, presented by Mr. Korpacz who has spent most of his career at the forefront of cap rate analysis and education, will take a detailed look at the drivers of overall capitalization rates and the best sources for defendable, cap rates.

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  Avoiding Hazards: Challenges of Golf Course & Club Valuation

  Douglas F. Main and Marty Benson

  The Society of Golf Appraisers (SGA) will present an overview of the valuation of public and private golf courses and clubs. The results of the SGA’s annual 2014 “Golf Lender & Investor Survey” will be presented, discussed and made available to all attendees.

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  Cap Rates: Rates, Returns, Risks, & Rewards

  Mark T. Menney

  This presentation will provide techniques regarding capitalization rate development, including the simple band of investment, mortgage-equity analysis and market derivation techniques. Market sources, proper calculations, and relationships between equity rates and cap rates will be explored.

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  What You Don't Know Can Hurt You: Online Branding

  Tina Morton and Tiffany Seward

  Have you ever searched for your office name online? If you did, were you satisfied with the results? Taking control of your online brand presents a strategy to discover and correct errors, and to monitor consumer mobile applications that impact perception of the assessment office. This session examines how and what customers find when they search online for information about the assessment office and demonstrates how to leverage mobile communication services for the purpose of establishing and protecting the assessment office brand. For example, someone may only want to know the location or office hours. Without the exact web address, a customer typically uses keywords which may or may not produce accurate information. Finding and correcting online errors adds to the consistent, positive "image" or "branding" we seek to project of the assessment office. Online branding happens with or without the conscious effort of the assessment office administrator. As more consumers shop, play and interact with government online, it's no surprise to find the assessment office listed among mobile communications services such as Yelp, Foursquare and Google+. Branding involves becoming familiar with the opportunities available through these services and staking your claim in order to take control of your own image.

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  Evaluating the Cost of Litigation

  Ken Nolan and Melinda Blackwell

  Evaluating the Costs of Litigation Webinar This webinar discusses the cost of litigation both from a purely financial perspective as well as the "cost" of allowing opposing counsel to learn your litigation strategy and insights. Litigation is expensive. Costs include not only paying for counsel, but for a report from an appraiser, deposition and testimony fees, deposition transcripts, along with the potential exposure to reimbursing the other side their legal fees and costs. Careful consideration of these types of costs should be part of any decision whether to proceed to trial. In addition to these purely financial costs, there is also a risk in utilizing a taxing entity's in-house employee to testify as an expert witness. The in-house employee must be qualified to testify. If not, a serious risk exists that you may not have a testifying expert available, which can seriously impair your negotiating position. Another risk includes allowing opposing counsel the opportunity to gain insight into your overall settlement or litigation strategy when deposing an in-house expert. Is the potential cost-savings associated with utilizing a qualified in-house expert worth the attendant risks?

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  Income and Expense Data Leading To Annual Assessments

  Timothy A. Sheares and Thomas Frey

  This session will provide information about the Real Property Income and Expense (RPIE) program in New York City. The presentation will introduce the results of data gathering by presenting guidelines for valuation including income, expenses and trends.

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  Demystifying Commercial Property Appraisal Terminology

  Jim Todora

  Demystifying Commercial Property Appraisal Terminology WebinarThis is an introductory program designed for those new to appraisal or those with an interest in commercial property valuation. It focuses on vocabulary commonly found in the appraisal of commercial property. Technical definitions, cited from reliable reference sources, are supplemented by independent elaborations using non-technical easy to understand language. Practical examples demonstrate their use in the appraisal process, with emphasis on the income approach to value. A few terms taken from the general areas of statistics and finance provide insightful uses for comparing and gauging market data. Graphics, including photographs and charts serve as visual aids. This webinar provides a preliminary point for future education of commercial property valuation.

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  Hotel Casino Valuation

  Mary Ann Weidner

  With the expansion of legalized casino-style gambling over the past decade, more jurisdictions are faced with the challenges of valuing these types of properties for tax purposes. This webinar will provide an overview of the valuation of Hotel Casinos from the perspective of Clark County, Nevada. Though each jurisdiction may have unique market influences different from Las Vegas, this webinar is designed to provide a framework for getting started in Hotel Casino valuation. This includes tracking and analyzing departmental revenue and expenses; reviewing and analyzing historical market transactions; and deriving revenues, expenses and cap rates necessary to make a valuation determination. Practical examples will be provided for review along with charts showing statistical analysis on historic data.

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  Zen and the Art of Hotel Valuation

  Tim C. Wilmath

  Hotel and resort properties present some of the most difficult valuation challenges for assessors and appraisers. This presentation addresses why some hotels succeed and others fail. Topics include the impact of renovation, how changing markets can affect a hotel's value, and a fresh look at the issue of business/intangible value.

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  Ask the Valuation Experts Webinar

  Tim C. Wilmath, William D. Shepherd, Richard Marchitelli, Raymond T. Cirz, and Peter F. Korpacz

  A panel of experts in valuation issues will present an open forum for attendees regarding the relevant valuation topics routinely encountered in assessment litigation. The session is designed to be interactive.

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  Valuation of Hospitals and Surgical Centers

  Colleen Blumenthal

  This webinar considers the market value estimation process (with emphasis on the income approach), current market trends in hospital- and surgical center-space, contribution of real estate as allocated from the total value, and how to look at functional obsolescence in facilities that are failing to perform. A review of market trends for this specialty niche will be presented so attendees understand how best to determine presence of absence of obsolescence and how market trends can render an otherwise good physical asset to one of little value.

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  Preparing for the PPS Case Study Exam

  Kirk F. Boone PPS

  This 2013 webinar prepares viewers for the case study exam portion of the Personal Property Specialist (PPS) designation. Example exam questions are demonstrated.

  This resource refers to the designation requirements and exam in place at the time of its publication and has not been altered to reflect any potential subsequent changes.

  Note: The first 10 minutes and 30 seconds of the video are acknowledgements and introductions not substantive to preparing for the PPS Case Study Exam.

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  Obsolescence Impacting Personal Property: Considerations in the Current Economy

  Arline Broome and Todd Barron

  The audience participates in a thorough discussion of functional and external obsolescence issues impacting personal property. The material will cover the basic concepts of obsolescence and corresponding calculations, but will also include several advanced case studies. When valuing personal property it is critical to account for all forms of obsolescence. Unfortunately, valuation tables applied in a mass appraisal setting for property tax purposes do not necessarily capture all forms of obsolescence. Given the current economic conditions, the assets of many businesses suffer from obsolescence and, therefore, many taxpayers may be seeking and deserve a value adjustment. This session will help attendees understand the issues and how to calculate obsolescence to ensure accurate assessments.

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  Subsidized Housing Valuation

  Brad Eldridge and Kevin Bradshaw

  Subsidized housing continues to be a challenge for appraisers and assessment offices. Opinions on appropriate valuation methodology vary among real estate professionals as much as the government programs available to developers. This two-hour webinar will provide a brief overview on the different types of subsidized housing programs and how they work.

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  The State of the U.S. Real Estate Market

  Peter Korpacz

  Maybe it's time to accept that the economy has turned around and a real expansion will soon be upon us. The stock market, which often foretells economic growth, is doing well and has reached historic price levels. And, real property transaction volumes are increasing and cap rates are holding their own and for some prized assets are actually declining to record lows.

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  Golf Course Valuation

  Douglas Main

  Like an approach shot to the 17th green surrounded by water hazards, valuing only the Real Property component of the going-concern of a golf course or country club can be a challenge. Like proper club selection, understanding the challenges of the market, the types of operations, and the tools best suited to isolating the real property component of golf course is vital to perfect execution.

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  Defending a Commercial Assessment Using the Three Approaches

  Ed Martinez, Jim Siebers, and Steve Miner

  This webinar will tell you how to properly collect the data required for each approach to value and where to find it; how to properly apply the three approaches to value; and how the information from the three approaches to value can be used to defend an assessment.

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  Nursing & Senior Housing Valuation Techniques/Trends

  Alan Plush

  This webinar covers the market value estimation process (with emphasis on the income approach), current market trends in the hospital and surgical center space, contribution of real estate as allocated from the total value, and how to look at functional obsolescence in facilities that are failing to perform. A review of market trends for this specialty niche will be presented so attendees understand how best to determine presence of absence of obsolescence and how market trends can render an otherwise good physical asset to one of little value.

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  Face of Customer Service in the Assessment Office

  Tiffany Steward and Tina Morton

  Are we serving customers effectively when communicating in person, over the phone, and by e-mail? Is there a way to guide employee performance so everyone who represents the office is upholding the highest standards of customer service? Join the presenters for "The Face of Customer Service in the Assessment Office." They will look at the pitfalls that employees face, such as problems with etiquette, professionalism, nonverbal communication, and distractions. Participants will have an opportunity to view "Customer Service Investigation," a training video developed by and for employees in an assessment office. The presenters will also look at the basics of e-mail communication and ways to provide employees with feedback and coaching to improve their skills. A CD containing the video and other resources will be available to Webinar participants so they can implement these concepts in their own offices.

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  Condominium Assessment - Issues and Answers

  Scott Winter

  Condominiums have been a form of property ownership since the period of ancient Rome. They still enjoy popularity in many assessment jurisdictions today. However, the issues surrounding the assessment of condominiums have evolved in recent years. Condominiums are similar to residential homes, yet have enough unique features that require special consideration when assessing them. What are some of the best practices regarding the assessment of condominiums?

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  It's Time for a Roundup, the Appeals have Stampeded!

  David Boisvert

  This webinar describes the issues that Maricopa County was struggling with in managing the appeals from the start to the completion of the process. Mr. Boisvert will share what Maricopa County developed in order to solve the issues...We will walk through the analysis of where the process could be improved upon, the criteria for a new process system, the defined benefits and the potential risks with change. Mr. Boisvert will share the modifications and upgrades which have occurred as the process has moved forward over the last three years as well as the next upcoming appeals season.

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  Intangibles in Commercial Properties: Are They the Real Thing?

  Mark Kenney

  Business value and intangibles are not taxable. Commercial property assessments must be evaluated for the possible extraction of nontaxable business value and intangibles. This presentation provides an overview of terminology, value concepts, and appraisal methods related to business value and intangibles. It will help assessors identify intangible assets and understand their potential impact on assessments.

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  The State of the US Real Estate Market

  Peter Korpacz

  The U.S. economy hit a speed bump mid-2012 and continues to struggle with weak employment and GDP growth. Headwinds threatening the hope for sustainable economic expansion include a possible global recession. Already much of Western Europe is already in recession. With the November elections behind us, it will be time to consider its implications, especially in regard to the fiscal cliff the country faces with the double barreled explosion of impeding, massive Federal income tax increases and large Federal budget expenditure reductions. Will they occur or will "the roadrunner make a U-turn and avoid the fall?" For the fourth quarter 2012 update on the State of the U.S. Real Estate Market, Mr. Korpacz will focus on the impact of the economic malaise and the Federal fiscal crisis on real estate space and capital markets as well as changes in transaction volumes, prices, and cap rates by property categories and major markets.

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  The State of the US Real Estate Market Webinar

  Peter Korpacz

  It’s been a slow process but the U.S. economy is experiencing a sustainable recovery, but headwinds are still threatening the hope for expansion. For the second quarter 2012 update on the State of the U.S. Real Estate Market, Mr. Korpacz will focus on the impact of the slowly, improving economy on both real estate space and capital markets as well as changes in transaction volumes, prices, and cap rates by property categories and major markets.

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  Wind Farms 101

  Wade Patterson and Gary Snyder

  Many locations have wind, but it’s much more involved. The presenters will examine wind energy companies’ consideration of important factors such as environmental conditions, substation locations, a “grid” for purchase, transportation, and distribution besides the abundant, free, renewable natural resource, wind.