South Pasadena, CA (PressExposure) September 25, 2007 -- The West San Gabriel Valley Association of Realtors offers on-going programs concerning various aspects of commercial real estate to its members. Recently, the board provided its membership with an opportunity to learn about commercial appraisals from one of its own members. Ms. Kim Kearney, MAI, ASA, CCIM and Principal of K3 Investments, has over twenty years of experience in the real estate industry. In 1986, Ms. Kearney founded K3 Investments, a full-spectrum real estate firm that provides its clients with appraisal, consulting, and brokerage services.
The purpose of the seminar was to provide attendees with a brief overview of a commercial appraisal and the process involved. The speaker's intent was to provide participants with a better comfort level as far as 1) the type of questions that need to be asked prior to retaining an appraiser; 2) insights into the type of property data that a commercial appraiser will often request from the client; and 3) the differences and similarities between a commercial and residential appraisal.
Ms. Kearney began the session with a discussion of the various designations and certifications that exist for appraisers. She proceeded to inform the audience of questions they should ask an appraiser to ensure the appraiser's level of experience and knowledge were appropriate for the assignment.
Program participants were given a list of typical questions and information that they should be prepared to provide to an appraiser at the onset of an assignment. The three different report formats for appraisals were discussed, along with insights as to when the different types of report are appropriate.
Highlights of the various components in an appraisal were covered and the audience was given an opportunity to explore the usefulness and appropriateness of the three approaches to value.
The importance of recognizing and understanding the different types of lease adjustments were addressed, along with a very informative session on the various types of value and why market value may not always be what a client needs.
Ms. Kearney was a panelist speaker at the California Association of Realtors Commercial Expo held at the Long Beach Convention Center in Long Beach, CA in 2006. Earlier this year, Ms. Kearney, along with other members of CREW-LA, spoke to the Undergraduate Real Estate Association at UCLA. Ms. Kearney will also be a speaker at the National Association of Realtors Convention in Las Vegas being held at the Sands Expo Center in November 2007.
Ms. Kearney is President Elect of Commercial Real Estate Women-Los Angeles (CREW-LA) and is also a member of Kearney & Associates: The Experts' Alliance, headquartered in San Leandro, CA.