Session Descriptions

Sessions

You will choose one each from Early AM, Late AM, Early PM and Late PM (4 total)

Early Morning Sessions – 9:00-10:30AM

A – The Puget Sound Office Market, Overview and Where We are Headed

MODERATOR: John Parsons, Vice President, CBRE
Carolyn Davis, Research Manager, CBRE – Research
Dave Otis, Investment Sales, HFF
Casey P. Davidson, Managing Director, HFF
Nate Fliflet, Senior Associate, CBRE – Brokerage

The Puget Sound office market continues to show strength as a major gateway market. Hear from market experts regarding current market trends and growth, and what we can expect going forward.

B – Hot Topics & Myths in Liability for Northwest Appraisers

Peter Christensen, General Counsel, LIA Administrators & Insurance Services

Who sues appraisers in WA and what do they sue for? What is the statute of limitations? What should go in a work file to help in defense of a lawsuit? You’ll get an overview of current appraiser liability trends, and common myths and misunderstandings will be dispelled. Actual appraiser lawsuits and claims in WA will provide the background for the presentation, including the recent WA appellate decisions in Rockrock Group v. Value Logic.

C – The Hirst Decision and Legislative Response

Heather Burgess, Managing Partner, Phillips Burgess PLLC
Armand Resto-Spotts, Attorney, Phillips Burgess PLLC,
Troy Nichols, Principal, Phillips Burgess Government Relations, LLC

This session will discuss the following. A) The Washington Supreme Court in Whatcom County vs. Hirst, Futurewise, et al. decision requires a county to make an independent decision about legal water availability. B) Impact of unavailability of water on values or rural residential properties, and C) Snohomish County “waiver/release of liability” program to water right exempt wells to be drilled Legislative response and the pending solution.

D – Appraiser’s Guide to Jury Instructions

Jackee Walker, Associate, Miller Nash Graham & Dunn LLP
Connor O’Brien, Attorney, Miller Nash Graham & Dunn LLP

The appraiser’s expert testimony is critical in determining value in eminent domain proceedings, but how may the jury use that testimony to determine just compensation? Learn about the jury instructions specific to eminent domain proceedings and how they affect just compensation.

Late Morning Sessions – 10:45-12:15PM

E – Puget Sound Industrial: Is There an End in Sight?

Jeff Forsberg, CCIM, Principal NAI, Puget Sound Properties
Bart Brynestad, Partner , Panattoni Development
Matt Buchanan, Development Manager, Panattoni Development
Jim Kidder, SIOR, Senior Vice President, Kidder Mathews
Tom Wilson, Director, Cushman & Wakefield Commerce
Mitch Olsen, MAI (Moderator), Vice President, CBRE, Inc.

The Puget Sound industrial market explored through the perspective of active market participants. Learn about specific industrial markets and how the ever-changing Seattle landscape affects the overall industrial market. Panelists will discuss current and anticipated market trends including rental rates, absorption, new construction, pipeline inventory, capitalization rates, and overall investment parameters. Find out about supply and demand for speculative developments as a barometer for the long-term health of the industrial market.

F – Capture a “New Competency” Using Data Science Tools & Techniques

George Dell, MAI, SRA, ASA, CDEI, Value Metrics

Breakthroughs in technology and visual interface are here! Learn about new tools and concepts for immediate use in your practice. Earn better fees doing more enjoyable work, through enhanced value for your clients. These new tools are fun and create professional opportunity for faster, more reliable valuation reports. Understand the four uses of regression; see outlines, concepts, and examples of work product with powerful open-source analytics software; bulletproof your data selection; and learn of the determined, estimated, or asymptotically approached types of adjustment calculations.

 

G – The Unit Rule – Misunderstood and Rightly So

Kinnon W. Williams, Shareholder, Inslee Best

The “Unit Rule” or “Undivided Fee Rule” can create confusion in eminent domain setting where properties have various easements, covenants, reversionary interests and site specific zoning. In this session we will explore, A) What role do covenants play in valuation? B) The consideration of easements. C) The effect of reversionary interests. D) How leases may impact your analysis, and E) what to do with site specific zoning.

H -What Appraisers, Bankers, and Attorneys Need to Know About AVMs and Statistical Modeling

John A. Kilpatrick, Ph.D., MAI, Chairman and Co-Managing Director, Advisors, Inc.

Automated Valuation Models (AVMs) and various statistical models have become inexpensive and efficient tools for mass appraisal, appraisal review, and loan underwriting. Appraisers are increasingly called on to use AVM output in loan review, testify about them in court, or advise clients. Thus presentation will outline some of the basics of AVMs and other common statistical tools. The session is adapted from a similar presentation recently made at the AI Connect annual meeting.

Early Afternoon Sessions – 1:45-3:15PM

I -Retail at a Crossroads

Inger Johnson, Director of Real Estate – Washington, KIMCO Realty
Coral Garnick, Staff Writer, Puget Sound Business Journal

Increasing fear and uncertainty are evident in the retail sector despite generally stable-to-improving market conditions. Investor sentiment is being driven by the recent acceleration of long-term trends such as the “hollowing out” of traditional mid-market retailers and disruption from on-line platforms. This session will examine recent events that have disrupted the retail marketplace, assess their impact on current market conditions, and explore the future of retail. We’re fortunate to have panelists with unique insights from the retail, investment, and journalism communities to help address these questions.

J – Shelter Demand in Seattle and the Greater Puget Sound: Something is Different

Brian O’Connor, MAI, CRE, President, O’Connor Consulting Group
Todd Britsch, Regional Director, Metrostudy

Will the Seattle Metro apartment market continue its amazing expansion? How does the single family market inter-relate with the multi-family market? Are condominiums about to make a comeback? What is likely to happen over the next few years for these markets? These topics will be examined in light of the new development patterns that are becoming evident in this cycle.

K – Benefit, Burden, Red Herring? Demystifying Easements and Crucial Lease Elements

Rosemary “Rosie” Boelens, Attorney, Tephra Law, PLLC
Nicole M. Potebnya, Attorney, Tephra Law, PLLC

How do you really know if you have encountered a real appraisal challenge or no big deal? The decisions you make based on the facts at hand can have significant impacts on your determination of value. A team of two attorneys practicing in real estate, contracts and business law will lead you through what you need to know about easements and relevant lease issues to give you a solid command of the tools you need to streamline and positively impact your appraisals!

L – Game Changers in the Seattle Hotel Industry

Scott Biethan, MAI, CRE FRICS, Principle, McKee Appraisal and Consulting
Alan Jutte, Vice Presisdent, CBRE
John Gordon, MAI, Senior Vice President, Kidder Mathews

Beyond the numbers! New supply, newly formed brands, new “gamechangers”, new times. A look at what is changing the hotel industry. Specialization, globalization, disruptors and more. From the local influence of a very large convention center hotel coming into the Seattle CBD, to the impact of Airbnb. Come hear from hotel experts what is on the horizon.

Late Afternoon Sessions – 3:30-5:00PM

M – Multifamily: How Much is Too Much?

 Jared Kadry, MBA, Market Analyst, CoStar Group
David Young, Managing Director, West Coast Lead
James Bach, Senior Vice President, CBRE Capital Markets
Maria Barrientos, Principal, Barrientos + Ryan
Hal Ferris, Principal, Spectrum Development Solutions

Where is the market headed? With record levels of construction projected to accelerate further, especially in the close-in urban areas, is the market primed toward over supply? How are investors evaluating the region and what asset classes are in demand? What is the region doing right (and wrong) in creating enough affordable housing? This session will explore a variety of topics including supply trends, rent growth, affordability, sales activity, capital markets and investment parameters.

N – Here Comes the Sun: Solar Electric Systems in the Residential Environment

David Nicol, Solar Washington

Get an in-depth introduction to the solar electric systems that you encounter in the residential market. By the end of the session you’ll be able to describe them using appropriate terminology and understand their function, installation, and effectiveness. We will discuss system costs, rebates and credits; owning vs. leasing; and how these systems integrate with the home’s power system and the larger energy grid. Local case studies and a national market study will highlight market reactions to these systems. Don’t be left in the dark, join us for this enlightening session!

O – How the Market Views the Value of ‘Value-Add’ Properties

Commercial properties suffering from vacancy problems typically sell for less than identical properties with stabilized properties. The session will discuss the steps to ascertain the appropriate deductions. The steps include using market-based information to analyze the vacancy shortfall, including an additional deduction for the entrepreneurial incentive that a typical investor would require for the risk, skill, effort, and cost of bringing a destabilized property up to market occupancy. These steps can be used in a variety of contexts, including transactions and property tax appeals.

P – Arbitration for Appraisers – Practical Approaches to the Real World

Bates McKee, MAI, AI-GRS, Principal, McKee Appraisal
Murray Bracket
Peter Shorett

This panel session will provide practical information for appraisers wishing to (or required to) participate in the arbitration process. A common form of dispute resolution, appraisers typically play the central role in this process, either as advocates for their clients, or as the neutral or deciding “third” on a panel. Appraisers may also be called as expert witnesses, in front of a panel of non-appraisers. Either way, the central and vital role of appraisers in this common format provides an exciting and interesting business opportunity. After a brief presentation covering the basics, we anticipate a lively panel discussion including extensive Q&A and audience participation. Share your insight, experience and knowledge with your peers!