This week after completing a BOV for a retail pad site, I had a lengthy conversation with a local Idaho Falls appraiser about the challenging task of valuation in today's market. As commercial real estate professionals, we frequently get calls from appraisers seeking information. We also routinely complete opinion of value assessments on our clients' properties and for lenders and other institutions. But the task of valuation is a whole new ball game because of the recession. Comps from two years ago or more often don't mean much. Recent comps are few and far between. An in-depth evaluation of each property, along with an understanding of current local, regional, and national market conditions is critical. And the task is definitely not for the faint of heart.
--Kaly Shippen
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