Local Real Estate Valuation Expert Invited to Talk About the Valuation of Office Buildings

James MacCrate (CRE, MAI, ASA), a respected real estate valuation consultant, author, and an Adjunct Professor at New York University has been invited by the Mid Hudson Chapter of the Appraisal Institute to address the unique terminology, concepts, principles, and analytical techniques related to the proper valuation of office buildings. Special emphasis is given to forecasting income approach and the complexities of valuing multi-tenant properties for professionals including real estate brokers, owners, and appraisers. The Appraisal Institute is offering this timely seminar on September 9, 2008 in Goshen, New York at Orange County Association of Realtors building as the prices paid for office buildings begins to soften.

The seminar begins with a review of the attributes of different types of office buildings, important inspection issues, and industry measurement criteria. This is followed by an in-depth examination of the income approach by investigating alternative lease types, proper methods for forecasting office rents, vacancies, and operating expenses, as well as proper techniques for selecting capitalization rates and discount rates. Examining an actual case study reinforces these concepts. Mr. MacCrate stated that, "this seminar concludes by examining important issues affecting the valuation of office buildings in the current environment with the cost of debt increasing and difficult to find, and businesses contract in a weakening economy."

Jim MacCrate is an MAI and SRA member of the Appraisal Institute, as well as a member of The Counselors of Real Estate, specializing in real estate valuation in the New York Metropolitan Area. He formerly was a former member of the Nassau County Board of Assessors and a Director at Price Waterhouse LLP.

The Counselors of Real Estate is an international group of high profile professionals including members of prominent real estate, financial, legal and accounting firms as well as leaders of government and academia who provide objective advice on complex real property situations. Membership is selective, extended by invitation only.

The Appraisal Institute is a global membership association of professional real estate appraisers, with nearly 23,000 members and 92 chapters throughout the world. Organized in 1932, its mission is to support and advance its members as the choice for real estate solutions and uphold professional credentials, standards of professional practice and ethics consistent with the public good. The Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws.

For additional information: contact: Yvette Molinas, (midhudsonai@yahoo.com), at (845) 986-4863, or visit the Home Page for the Mid Hudson Chapter of the Appraisal Institute (http://www.midhudsonai.org).