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 Henry J. Goodfriend, MCR, President of the Goodfriend Global Group and Global Lead, Real Estate Transactions, Corporate Global Real Estate for The Estee Lauder Companies will open the the 2019 Metro DC Appraisal Conference with the Local Effect of Global Economics. Globalization has impacted nearly every aspect of modern life, including the valuation of real estate. Goodfriend will share specific insights on how these macroeconomic issues and trends affect valuation at the microeconomic level.
A full program including regulatory, tax and area development updates as well as technology and sustainable value will fill the rest of the program. We'll close the day with a networking reception including tasty hors d'oeuvres and an open bar!
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Highly-rated instructor Mark V. Smeltzer, MAI, SRA, AI-RRS will lead the Appraisal Institute's brand new seminar, How Tenants Create or Destroy Value: Leasehold Valuation and its Impact on Value on Monday, March 25 in Rockville, MD. If you’re involved in the valuation of commercial real estate, it’s crucial to know how the terms of a lease affect value. This NEW seminar goes beyond methodology to explore how to measure a property rights adjustment, the theory underlying the use of a leasehold yield rate (YLH) to value the leasehold, as well as the application of a property rights adjustment in all three approaches to value.
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Metro DC appraisers, bankers and developers gathered for a panel discussion around trends, issues and concerns driving development and financing in the area. The panelists were "cautiously optimistic" about the area economy and mixed about the future of AirBnB. Notable among the development trends cited was the millennial home buyers preference for a smaller, less demanding footprint (nix to living rooms, dining rooms, dens/offices) along with alternatives to car ownership (access to Metro, Uber, Lyft, etc). All agreed more communication would benefit the appraiser/banker/developer relationship.
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