Managing shopping center appraisals in LA ? Critical issues you must consider

Posted by Elite Internet Technologies on December 13th, 2016

If you own a shopping center in LA, or are thinking of buying one, obviously you’ll need an appraisal at some point during ownership, sale, or purchase. The appraisal process, however, adds a degree of difficulty, and you need to understand the possible risks.

To clarify:

• Owners

If you own a shopping center, you’ll know how variable, and “interesting” the market can get, particularly when it comes to valuations. You’ll also be well aware that your potential buyers and your equity holders know how to pull a valuation apart if it’s inaccurate or overly optimistic.

• Buyers

The valuation issue can cost you a lot of money if you’re not doing real due diligence. You need to be sure of your figures, and able to support your purchase effectively to financiers, stakeholders, and yourself.

Shopping center appraisals are a mix of elements:

• Local market values – The real value of the equivalent properties in different markets can vary a lot. In some areas of LA, for example, the local market is a virtual liability. In other areas, there is obvious upside and significant investment value.
• Premises – Premises quality varies from laughable to high-end, top of the market quality.
• Development potential – Development potential and scope for high-value improvement is a major issue for investors.

Excuse this somewhat over-simplified version of shopping center appraisal issues. The bottom line in for both owners and buyers, however, is unambiguous. You need an absolutely bullet-proof appraisal which is both trustworthy and thoroughly researched.

The good news for LA residents is that you have one of the nation's leading property appraisal companies practically. It is a company called Irish Appraisal Service. This is a true market leader in the field, very well-known for its quality of service.

Whether you need a basic best practice shopping center appraisal in Riverside for a local shopping center, or a virtually forensic shopping center appraisal in Hollywood for an upmarket center, as we go. This company is your instant solution for local market knowledge, strict professional standards, excellent guidance. For more information visit their website at http://www.irishappraisal.com/.