Valbridge Property Advisors Northern California

For some time now, pressure has been growing in the office market nationwide. The recovery some investors hoped for post Covid is just not happening. As leases expire and tenants vacante or downsize amidst a challenging lending environment, values are dropping precipitously.

So how bad is the office market, really? Take a look at these sale/resales of offices in San Jose and Campbell indicating a drop in value of around 70%.

Many thanks to our own Tony Sciarrilli for putting this together.

Market fluctuations impacting your commercial property value? Valbridge Property Advisors | Northern California can help. We specialize in Proposition 8 and Base Year property tax appeals, having saved millions for our clients.

The filing period for Proposition 8 appeals begins on July 2 in most California counties. Contact us for a free consultation to see if a tax appeal is right for your property.

Gene Williams, MAI, CCIM, Managing Director, Tax Appeal Division
[email protected]

We're thrilled to celebrate Ashley Jordan and Yulia Ferguson, who have passed their Certified General Appraiser exams with flying colors! Their dedication and hard work have truly paid off. Witnessing their growth into skilled professionals in the appraisal field has been a source of immense pride. We're excited to see them continue honing their expertise and taking on new challenges. Congratulations, Ashley and Yulia!

We are pleased to sponsor the Northern California Chapter of the Appraisal Institute's upcoming Spring Litigation conference. Held on May 10 in Oakland, this conference is a must-attend for appraisers interested in providing expert litigation support for their clients. https://lnkd.in/esP2i5QZ

We are pleased to sponsor the Northern California Chapter of the Appraisal Institute's upcoming Spring Litigation conference. Held on May 10 in Oakland, this conference is a must-attend for appraisers interested in providing expert litigation support for their clients. https://norcal-ai.org/event/2024-spring-litigation-conference/

"MSCI Real Assets noted in a recent report that $214 billion in mortgages slated for maturity in 2023 were, to their knowledge, not refinanced, nor was there a sale of the underlying property. 'We believe that these loans have been granted some short-term extension to their maturity date,' MSCI Real Assets wrote."

https://ow.ly/iSUT50RbYXg

Banks Are Extending Office Loans. Are They Also Pretending? Many 2023 maturities were pushed into 2024, giving lenders more time for rates to drop and other investors to come in.

Looking to break into the appraisal profession? Have a little progress down, but need to finish your experience hours and education? Look no further than Valbridge Property Advisors. We are seeking an Appraisal Trainee to join our team and grow into a Certified General Appraiser.
Read more: https://www.valbridge.com/careers/appraisal-analyst-trainee/

In our final post of our 2023 awards series, we commend Laura Hulberg, who has been recognized with the President’s Award. Laura’s work spans many areas in our firm here in Northern California and within Valbridge Property Advisors nationally. In 2023, with Laura’s effort we hired a record number of new employees, secured several significant government contracts, and kept appraisal volume up during challenging economic conditions. Congratulations, Laura!

Without Claudia Romero, our operations would descend into chaos. Working in our accounting department with a sharp eye for detail, calm and unwavering work ethic, Claudia has been recognized with the Rock Star award for her work in 2023 (and, let’s face it, every year!).

In 2023, Stone Remy has completed a high volume of complex appraisals with deftness, skill, and professionalism that our team looks to as an example. In particular, Stone has developed a specialty of appraising mobile home parks. For this work, we thank Stone with the Outstanding Appraisal Performance award.

As we reflect back on 2023, one team member has shown explosive growth in his appraisal skills and progress toward licensure. The 2023 Rookie of the Year is Brian To! We are so impressed with your drive and can’t wait to see how you continue to excel in your career, Brian.

We're hiring! Our Sacramento/Central Valley region has an immediate opening for an Appraisal Analyst. This is the perfect role for someone who is interested in getting the education and mentorship required to become a Certified General Real Estate Appraiser.

Read the listing on our website: https://www.valbridge.com/careers/appraisal-analyst-trainee/

Maria Aji, PhD., Director, has provided outstanding guidance and support for our up-and-coming appraisers here at Valbridge Northern California for many years now. In our 2023 awards celebration, we thank her with the Excellence in Mentoring award. Congratulations, Maria!

Celebrated for consistently going the extra mile not only in appraisal work, but in additional initiatives helping our firm stay ahead of the curve, Neil Shah is recognized with the Above and Beyond award for 2023. You are an invaluable member of our team, Neil!

Nyesha Stafford has been recognized with the Outstanding Service award for her work in 2023. Nyesha’s attention to detail, determination to find solutions in the face of complexity, and exceptional professionalism is a testament to her character and work ethic. Thank you, Nyesha!

As we reflect on a successful 2023, we are pleased to share the exceptional achievements of our team. The Team Player award has been awarded to Kate Noble for her exceptional collaboration skills and unwavering positive attitude. Congratulations, Kate!

Valbridge Property Advisors is pleased to announce our new Interim CEO, Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, CRE has taken the helm. As Rick Armalavage, MAI, MCRIS retires from the CEO role, we thank him for his many years of visionary leadership.
Read more:

Valbridge Property Advisors Names Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, CRE Interim CEO Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, CRE Interim Chief Executive Officer Valbridge Property Advisors  Charleston, SC – Valbridge Property Advisors, the nation’s largest independent commercial real estate appraisal firm, is pleased to announce the appointment of Pledger M. (Jody) Bish...

According to the US Census Survey of Construction (2023), annual LIHTC delivery accounts for roughly 20% of all new multifamily units nationwide. The LIHTC program not only helps address the immediate housing needs of vulnerable populations, but also contributes to the stabilization of communities by providing a more balanced housing market.
Check out this article about the importance of LIHTC properties by Ryan Cloern, Senior Managing Director in Valbridge's Louisville | Cincinnati | Lexington market.

The Pivotal Role Low-Income Housing Tax Credit (LIHTC) Properties Play in Providing Quality Affordable Rental Housing in America Ryan Cloern Senior Managing Director Valbridge Property Advisors | Louisville | Cincinnati | Lexington In the ongoing struggle to address the pressing issue of affordable housing in the United States, the Low-Income Housing Tax Credit (LIHTC) program has become a vital tool. Enacted as part of the T...

“We congratulate the San Francisco 49ers on their final victory in court yesterday regarding their property tax appeal of Levi’s Stadium. Valbridge Property Advisors was pleased to appraise Levi’s Stadium and provide property tax appeal support for the 49ers in this complex matter,” says Norm Hulberg, MAI, Senior Managing Director of Valbridge Property Advisors | Northern California.
Kudos to the legal team of Jonathan Bass, Esq. and Charmaine Yu, Esq. of Coblentz, Patch, Duffy, & Bass LLP.

Court approves $180 million property tax cut for 49ers in Levi’s Stadium dispute A Santa Clara County judge approved a property tax cut of $180 million for the San Francisco 49ers over the 30 years remaining on their lease at Levi’s Stadium.

From our team to yours, we're wishing our friends and colleagues a Happy Thanksgiving!

Please join us in welcoming new Appraisal Analyst Octavia Sims to the Valbridge family. Octavia has an impressive background, with a BS in Anthropology and a Minor in Asian Studies from College of Charleston. She also attended Bangkok Ethnographic Field School and completed a Mathematics Exchange Program in China during her studies. Welcome, Octavia!

Congratulations are in order for Colene Holzhauer, MAI upon earning her MAI designation! Colene has passed her last comp exam and officially has the three-letter designation that every experienced appraiser seeks to reach the next level of their career. We are so proud of you, Colene!

The Northern California Chapter of the Appraisal Institute’s Fall Conference has finally arrived. Our very own Gene Williams, MAI, CCIM will be on a panel of experts to lend his expertise about tax appeal today. Valbridge Property Advisors is a proud sponsor of the 2023 Annual Fall Conference: Real Estate and Appraisal Symposium. We hope to see you there.

The Northern California Chapter of Appraisal Institute’s 2023 Annual Fall Conference features twelve breakout sessions on a variety of salient real estate appraisal topics. The “Land Use Entitlement: Pave the Way to Development” breakout session is led by our own Maria Aji, PhD, who will moderate a panel including our own Walter D. Carney, MAI, plus Ray Hashimoto of HMH Engineers and Mark Tersini of KT Properties.

Valbridge Property Advisors is a proud sponsor of the 2023 Annual Fall Conference: Real Estate and Appraisal Symposium. Don’t miss this top-tier education and networking opportunity in South SF on October 27.
More information: https://norcal-ai.org/event/2023-annual-fall-conference-real-estate-and-appraisal-symposium/

“Show Me the Money! Collecting from Appraisal Clients” is sure to be a spicy breakout session at Northern California Appraisal Institute’s upcoming Fall Conference on October 27. Moderated by Michael Yovino-Young, MAI, ASA, FRICS of Yovino Young Incorporated, this session features our Justin Draa, Esq. of Draa & Lapcevic, LLP, plus our very own Norm Hulberg, MAI.

Valbridge Property Advisors is a proud sponsor of the 2023 Annual Fall Conference: Real Estate and Appraisal Symposium. Don’t miss this top-tier education and networking opportunity in South SF on October 27.
More information: https://ow.ly/sFAP50PVf23

We are still buzzing after the Valbridge Property Advisors Annual Conference and 10th Anniversary Celebration. Our Senior Managing Director, Norm Hulberg, MAI, had the pleasure of interviewing Steve Bullock, MAI, FRICS, about his vision when bringing together the founding members of our company. Happy 10th Anniversary, Valbridge!

Photo by David H. Brooks, CRE, MAI,

Thank you Jerry A. Kasner Symposium for inviting Valbridge to join your gathering of the top estate planning professionals. We enjoyed getting to know so many of you, discussing real estate and fractional interest appraisal, and bonding over Ghirardelli chocolate.

Estate planning professionals are set to gather at the Kasner Estate Planning Symposium on October 5-6 in Santa Clara, CA. Our team of commercial real estate appraisal experts will be in Booth 18, ready to answer your questions about IRS-compliant appraisals for use in estate planning, gifting, and charitable donations.

More information: https://ow.ly/PA9w50PO4vb