In keeping with its cyclical nature, the real estate market has once again moved toward a state of dissolution. In the current economic downturn, this timely new seminar provides critical insights on how appraisers, lenders, and investors will value distressed real estate. In Appraising Distressed Commercial Real Estate: Here We Go Again, learn how to analyze distressed development properties and improve commercial real estate under the present market conditions. Examine, in detail, specific steps to enhance distressed properties. Develop methods for arriving at a market-supported “as-is” value forecast and in doing so, acquire techniques for enticing entrepreneurs, among other buyers. Discuss adaptive and alternative use on distressed properties that no longer support their current use by reviewing three examples that demonstrate the conversion process. Also, learn to accurately evaluate land values with limited direct comparables while you explore three unique case studies involving property in times of distress.

At the end of this seminar participants will be able to

• Define key concepts associated with distressed real estate


• Analyze current trends affecting real estate values


• Explore the six basic steps involved in conducting a market analysis


• Review market consideration on distressed real estate


• Explore how capital markets (debt and equity) affect commercial real estate from a cost availability perspective


• Review basic physical and functional issues that cause real estate to become distressed


• Explore “as-is” value concepts to more accurately analyze distressed real estate properties


• Distinguish between entrepreneurial profit and cost of capital


• Explore the concept of reflecting entrepreneurial profit as a dollar amount deduction


• Review adaptive-use potential on distressed properties


• Analyze and critique valuation methods on a failed subdivision

AICP members may be able to earn Certification Maintenance (CM) credits for this activity. Visit www.planning.org/cm for a list of approved offerings.