The Valencia Industrial Commercial Property Luncheon Meeting will feature prominent commercial property appraiser, Gary Valentine, owner of Valentine & Associates. He will be addressing attendees as part of his companies' expansion and will be offering valuable advice on golf course appraisal.
Los Angeles,, USA - - October 21, 2014 /PressCable/ —
Los Angeles, CA.- Commercial property appraiser Gary Valentine of Valentine & Associates announced that he will be speaking at the Valencia Industrial Commercial Property Luncheon Meeting on October 25, 2014 to offer tips on how appraisers generally appraise golf courses as well as commercial property throughout California and western states such as Arizona, Texas, Utah and Nevada. The meeting will be held at 1:00 p.m. at the offices of Valentine & Associates which is located at 23942 Lyons Avenue, Newhall, Ca. 01321.
Valentine Appraisal & Associates is expanding its commercial real estate appraisal services to include golf courses and raquet-club centers. The Valentine Appraisal Company normally specializes in agricultural appraisals, eminent domain appraisals, appraisals for high rise commercial buildings as well as pipeline easement appraisals and aviation or airport appraisals. Valentine & Associates has also served as an expert witness in several commercial real estate transactions and is one of the few appraisal companies that specializes in fiber optic appraisals.
Owner Gary Valentine is a longtime commercial appraiser. Not only is Valentine a certified general appraiser in California, (AG006526), he is also an MAI designated member of the Appraisal Institute, an accredited senior appraiser, real property/urban, of the American Society of Appraisers, and a senior member of the International Right of Way Association, and a member of the Forensic Expert Witness Association. Valentine served as Treasurer in 1993, Secretary in 1994, President-Elect in 1995, and President in 1996 of the International Right of Way Association, Chapter 1, Los Angeles. Valentine is also a licensed real estate broker in California.
Objective of a Commercial Property Appraisal
The objective of a “golf course appraisal” as well as a commercial property appraisal may be for the following valuation purposes:
- Sale Transaction
- Merger Or Stock Transaction
- Lease Arrangement
- Feasibility
- Financing
- Insurance
- Ad Valorem Taxation
- Or Condemnation
After determining the highest and best use of the commercial property, then the three traditional approaches (Sales Comparison, Income, and Cost Approach) are applied. Finally, a reconciliation of value is applied to arrive at the market value of the commercial property.
Golf Course Appraisals Are Becoming More Popular
Nowadays, due mostly to economic reasons, many private and public golf courses are being shut down. And the possibility to redevelop or re-purpose a troubled golf course property as a commercial property is in part determined by zoning and restricted covenants contained in community contracts that limit property uses. Golf courses are usually zoned for “open space” which limits their “non-golf course use” to parks and/or other greenbelt purposes.
Also, homeowner opposition to changing a golf course to a business use is often usually quite strong. Owners of homes located adjacent to golf courses often had to pay a hefty premium for views of lush fairways and water features, not views of commercial buildings and bright lights.
Therefore, the most likely redevelopment to a golf course involves a shift in business approach, which means keeping the golf course open but reducing its size and/or increasing the membership fees.
Commercial Real Estate Appraisal Conclusion
Because homes with a view of a lush, green golf course are often valued higher than properties without a view, a golf course owner may discover that modernizing and upgrading the existing golf course facility might be the best option. To discover the highest and best use of commercial real estate, however, start with a professional commercial real estate appraisal such as one provided by Valentine Appraisal & Associates. To find out, please visit the proposal page at their website: http:www.valentineappraisal.com/new/
For more information about us, please visit http://www.valentineappraisal.com/new/
Contact Info:
Name: Roberto Berchan
Email: mistyman930@gmail.com
Organization: Valentine & Associates
Phone: 661-755-1520
Release ID: 66235
