You've probably heard the saying that you can't get blood from a turnip. It's true, you know. You can never squeeze hard enough. Not that I've tried. But that seems to be what some regulatory officials may be expecting of commercial appraisers these days. Humor me for a second while I bellyache. With nothing better to do at 3:00 AM, I opened up … [Read more...]
Why some banks are running scared.
A couple of weeks back, I published a blog post about excess rents. For that blog post, I interviewed Stephen Roach, MAI, SRA, AI-GRS, who recently wrote an article that appeared in The Appraisal Journal, the leading trade publication for commercial appraisers throughout the world. On the surface, the post appeared to be just another boring article … [Read more...]
Intangible Assets: Here’s What the Heavyweights are Saying
In today's blog post, I have interviewed Mr. Stephen D. Roach, MAI, SRA, AI-GRS, about the hot topic of intangible assets. Mr. Roach is co-owner of Jones, Roach, and Caringella, Inc., in the San Diego area. His accomplishments within the appraisal industry are too numerous to list but include national and international teaching, editing books that … [Read more...]
The illusion of owning commercial real estate.
I recently read a fascinating article by Mr. Stephen D. Roach, MAI, that was published in The Appraisal Journal. The title of the article is "Is Excess Rent Intangible." A Powerpoint presentation summarizing the argument he presents in the article may be downloaded here. One of the important points Mr. Roach makes in the article is the ambiguity … [Read more...]
Allocating Value: Tangible vs. Intangible Assets
The subject of a recent appraisal required me to form an opinion of the market value of the going concern of a business enterprise. As it turns out, the value of the business was significantly higher than the value of the underlying real estate asset. Most of the difference was attributable to intangible assets of the business enterprise (supplier … [Read more...]