The year is coming to an end and Christmas is only days away. We are reflecting on this incredible year and the many ways we are thankful. One of the biggest things we are thankful for is you, our clients and friends of the firm! Thank you for trusting in our firm, and for allowing us to be part of your decision making.
In honor of our valued friends and clients, for the past 27 years we have provided gifts for less fortunate children through the Daniel Jacobs Christmas Families Program. This year we adopted eight children ranging in age from three to 20 (aging out of the foster care system). Each will receive gifts from their "wish lists" as well as surprises and other needed items. As we conclude our shopping for our "Red Bag" kids we have you to thank for helping to make this happen. This year we were also fortunate to be able to support the work of the Kansas City Pet Project, Big Shifts Foundation, MoKan Goodwill, Habitat Restore, March of Dimes, Blue Valley Educational Foundation, Kansas City Symphony, American Heart Association and Reaching Out From Within We have enjoyed a very good year in 2018. We hope you appreciate this expression of our gratitude for your business. Have a wonderful holiday season and a healthy and prosperous New Year! Sincerely, Laird Goldsborough, MAI; Bernie Shaner, MAI, SRA; Jason Roos, MAI; Daniel Kann, MAI; Andrew Baker, MAI; Brock Heyde, MAI; Tyler Siegworth, MAI; Derek Shaner; Tom Horton; Jessica Perryman; Shari Schweitzer; Joanne Montgomery; Ryan Myers; Garrett Connolly; Audrey Teixeira; Drew Murray; Aaron Kreutzer; Lindsay Wells and Jacob Davis. The Valbridge Women's Council (VWC) recently held its inaugural meeting. The vision of the council is to empower Valbridge professional women for advancement, growth and development in all facets of life.
The Valbridge Women's Council serves as a platform for the growth and development of Valbridge Property Advisors' professional women through mentoring and education, national recognition, networking opportunities and other resources geared toward opportunities for advancement and self-improvement. The council will hold annual events and forums for the development of its members. Valbridge believes in the importance of diversity in the work place and embraces women in leadership as a core principal. At Valbridge, various women hold executive positions within the company with decades of experience across diverse valuation categories, some holding the highest level of commercial appraisal designations in the industry. This includes the Appraisal Institute MAI designation, one of the highest levels of professional achievement in the industry. Leading up to the launch of the Valbridge Women's Council, Valbridge Property Advisors actively highlighted the women of Valbridge to bring attention to the need for more women to enter the commercial appraisal industry. Valbridge is proud to celebrate the accomplishments of female leaders in the company and encourage professional development for the women of Valbridge and beyond. The Kansas City office boasts four VWC members - congratulations to Jessica Perryman, Senior Appraiser and Joanne Montgomery, Director of Operations for becoming VWC Directors. Audrey Teixeira, Appraiser and Lindsay Wells, Researcher are also VWC members. Valbridge uses custom software to create valuation templates for clients that are not the typical Appraisal narrative - making service available to all!
By: Jessi Minneci The experts at Valbridge Property Advisors are constantly working, not only to improve our existing products and services, but to develop new tools and processes that provide our clients with an overall "second to none" experience. At Valbridge, we are pleased to note that we have and continue to develop comprehensive and advisory appraisal services for all types of property. We produce custom, consistent appraisal reports across the U.S. market for (but not limited to) office, industrial, and retail buildings, along with hotels, multi-family homes, and apartment buildings. But we don’t stop there… Our newest area of expertise centers particularly on our banks and financial institution clients. After all, we strive to be different from the competition by working swiftly and efficiently to provide our clients with all necessary and relevant aspects of the appraisal process – oftentimes seeing what the competition hasn’t. Indeed Valbridge has become a leader in the Eval space, due in no small part to Datappraise. Subsequent transactions and Valbridge Throughout the real estate appraisal process, subsequent transactions of existing credits are necessary at banks and financial institutions if certain criteria are met. According to the Federal Deposit Insurance Corporation (FDIC), subsequent transactions include the following:
But what happens after those loans are evaluated and appraisals are complete? Way too often, we notice that the valuation information gets filed away and collects dust until the property is again in question. But once it is pulled… what if that information is out-of-date? How can banks and financial lenders determine accuracy based on its timeline? Does the entire process need to be started from scratch?! Banks and financial institutions oftentimes have to go through lengthy processes, valuable time, and hard-earned money to get these preexisting loans (re)evaluated. Valbridge is changing that. We are evolving to extend our full suite of professional services to encompass evaluations needed on existing loans for banks and financial institutions in a timely and reputable manner. New Loan Appraisal Standards Up until now, the appraisal threshold (making appraisals a requirement) stood at a property valuation level of $250,000. Recently, the FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency jointly raised the current appraisal threshold for commercial real estate transactions from $250,000 to $500,000. Regardless of the new threshold, what happens when banks still want to check up on a loan that’s been on their books? Are they out of luck in the resources department? No! We at Valbridge are now using our own software and databases to create valuation templates for clients that are not of the typical Appraisal narrative. The clients have different needs and wants – some want a very restricted look at an existing loan on their books or possibly a new loan with amounts under the $500,000 threshold; others want a more thorough look with a limited reporting process. Possibility with Datappraise With Datappraise and our custom, proprietary reporting templates, we have the ability to create any type of product that our clients need. Using Datappraise, appraisal evaluations can be done quickly using templates that speak directly to our expertise and vast database – saving our financial clients time and money! The appraisal process is three fold – gather, analyze, report. Valbridge makes the process simpler than ever before with our first in class technology that can be customized for each and every one of our clients! Take advantage of Valbridge’s comprehensive services today Forget the headaches of the past. Now, you don’t have to fret when you’re in the market for reviewing old loans and appraisal projects that are already on the book. The experts at Valbridge are eager and ready to work with you to get the job done. Get in touch with Valbridge today and get the ball rolling! Valbridge | Kansas City is thankful to be one of 86 businesses nominated for the Kansas City Chamber Small Business Awards. We enjoyed participating in the Small Business Showcase at Union Station, and are proud of the support small business receives in our community.
Named for the late Ewing M. Kauffman, the Small Business of the Year Award-'Mr. K Award' will go to a company that has shown growth or sustainability of their business with strong employee relations and a record of giving back to the community. The Small Business Celebration is one of the largest small business celebrations in the United States. We enjoyed attending the Chamber's Top 10 Announcement Reception. Congratulations to the winners! Along with turning 40 this year, we've hit some pretty amazing company milestones lately! First, there’s a new generation of leadership at our office! Senior Managing Director Laird Goldsborough announced the promotion of Daniel Kann and Jason Roos to managing directors. Together, they’ll head up our Overland Park office. Daniel and Jason represent the future of our company and will continue to consult with and learn from both Laird Goldsborough and Bernie Shaner, who are still active in our Kansas City practice that serves four states: Kansas, Missouri, Nebraska and Iowa.
Locally, Laird has doubled our staff and has enjoyed average double-digit growth since 2009. We now employ 17 commercial real estate appraisal professionals, including six MAIs and 11 certified general appraisers, underscoring Laird's commitment to professional development. In addition, our customer count is up more than 20% in the last five years and, most importantly, revenue per customer is up significantly as well. In addition to best practice sharing, we continue to push the boundaries of technology to ensure nationwide quality service. Datappraise, our national database for commercial real estate appraisers, is key to our success. Laird initially served as chairman of the Datappraise board. To further improve the quality and efficiency of our work, we have also developed many tools including job management systems that enable us to work on large, national portfolios of properties across multiple offices simultaneously. We appreciate our clients and friends of the firm who contribute to our success. Our sights are set on continuing to grow and mentor the next generation of appraisers! Read more about us here and here! Valbridge Property Advisors | Kansas City turns 40 today! We want to thank our clients and friends for for pushing us forward for another 40 years. Look below to learn more about some highlights of the past few decades. Valbridge | Kansas City was Born: In 1978, Valbridge Property Advisors | Kansas City (named Shaner Appraisals, Inc.) was founded by Bernie Shaner with a mission of serving Kansas City's real estate appraisal needs.
Bernie Passes Ownership to Laird Goldsborough: In 2008 we sold our residential practice to focus strictly on commercial real estate valuation and Bernie passed the baton to Laird Goldsborough in 2009. A "Best Place" to Work: Valbridge | Kansas City is named one of Kansas City’s Best Places to Work by the Kansas City Business Journal in 2010. We Became a Founding Member of Valbridge Property Advisors: In 2013 Shaner Appraisals, Inc. became a founding member of Valbridge Property Advisors. Consisting of 70 appraisal firms, each member firm of Valbridge Property Advisors continues to run their local practice, but has an ownership stake in Valbridge. While we are the only member with a presence in Kansas and Missouri, the cooperative allows us to enhance our services on a national level. 25 Under 25 Award Winner: In 2014 we became a 25 Under 25 award winner! Mentorship Becomes a Way of Life: The last couple of years have been deeply devoted to fostering the next generation of appraisers into the industry. We are committed to educating ourselves and in 2016 coined the phrase "Always learning, always teaching" in our office. A Kansas City Mainstay: By continuing to grow as a firm, placing an emphasis on community service and involvement, and solidifying our place as experts in the region, we are thankful for the support of our clients and firm friends who have supported us along the way. In the last 40 years we have grown from a firm of a handful of employees to one with 20 colleagues headed by industry leaders. Not only this, but we pride ourselves on our ability to foster the new generation of appraisers into the industry. We have earned the trust of countless clients while acquiring a keen perspective on the local real estate market. With this experience as our foundation, we look forward to serving Kansas City for many years to come. Valbridge appraises both existing and proposed hotels throughout the region! Because we're knowledgeable on this property type, we decided to pick the brain of our own Brock Heyde, MAI about what to take into consideration when appraising in the hospitality industry! Hotels are an Operating Business: Many hotels often conduct other businesses such as restaurants/bars, banquet/meeting room rentals, and business services. Each business component requires its own income and expense analysis.
Hotels are Labor Intensive: In order to accomplish the goals of (1) executing 24-hour leases and (2) operating other related businesses, hotels are very labor intensive. Labor categories often include a general manager, front desk staff, housekeeping, maintenance, food and beverage staff, and sales and marketing staff. Depending on the size, location, and chain segment, additional labor categories can include security, human resources, accounting, and uniformed staff (bell-staff, valet, and concierge). Hotels are Capital Intensive: The excess wear and tear on hotel real estate and FF&E, due to the public nature of the facilities, requires annual expenditures for property renovation and improvements (that other real estate types do not require). There is a Formula for Measuring ADR: ADR (Average Daily Rate) is a measurement of the average rate paid for rooms sold. This is calculated by dividing the room revenue by rooms sold. Hotels are Typically "Branded" with a Chain Affiliation: In essence, the chain affiliation partially replaces the real estate broker as the leasing agent. Hotels Can Be Grouped Based on the Actual Average Room Rate: This method groups hotels in what is called "Chain Scales", with segments such as "Luxury", "Upper Upscale", "Upscale", "Upper Midscale", "Midscale", and "Economy". Independent hotels, regardless of their average room rates, are included as a separate chain-scale category called "Independent". We hope this has been helpful! Click here to contact our expert and contributor Brock Heyde, MAI! Open the newspaper or turn on the local news and you're likely to catch a story about the new KCI single terminal. We may be well-informed when it comes to this project, but what exactly does a new airport mean for our city? More International Flights: Landing its first nonstop transatlantic flight service this year was a huge win for KCI! With a new terminal, we can only expect our flight options to increase because we will be able to accommodate these non-stop flights. Not only this, but increased amenities within the terminal will better welcome passengers who may be only laying over.
Job Creation: A billion-dollar project like this is more than likely to create many jobs. Right now, the goal is to increase minority and union hiring for the extensive construction work. Bigger Flights: The proposed increased gate size will mean that more people will be able to board the airplanes. Not only will this lead to bigger flights, but there will be increased seating areas and more amenities like charging stations available to those waiting. Better Parking: No more uncovered parking! The new single terminal will offer tons of garage space and covered spots. This is a true necessity for a city with such unpredictable weather. ...And most importantly... MORE/BETTER RESTROOMS: Anyone who has ever tried to use the restroom once they've entered their gate at KCI knows that there's always an impossibly long line and maybe only two or three stalls inside. Bigger gates = more restrooms with better facilities. How do you think the new KCI will affect our city? Let us know in the comments below! |
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