Hampton Roads Real Estate Symposium 2023

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Notes

Presented by the Hampton Roads Chapter of the Appraisal Institute

in connection with E.V. Williams Center for Real Estate, Old Dominion University

 

The Hampton Roads Real Estate Symposium is for real estate appraisers, agents/brokers, assessors, attorneys, and anyone involved in the real estate industry. This event is an opportunity to network with local professionals, hear about current markets and trends, earn continuing education credits & have fun!            

Your registration includes light breakfast, lunch & afternoon snack.

Check in and breakfast begins at 8:00am; Seminar begins at 8:30am 

(There will be a brief chapter meeting held during lunch.) 

Parking is located off site in the 3800 block of Marlin Bay Drive. We will have a valet service to the Center, or you may choose to walk the gravel path through the woods, which is about an 8-minute walk.

Cancellation Policy

Any & all cancellations are subject to an admin fee.  No credit/refunds for cancellations made on or after 7 days prior to class.  No credit/refunds for no-shows.  

Additional Information

Keynote - Dr. Lei Zhang                                        

Associate Professor in Real Estate in the Department of Finance at the Strome College of Business at Old Dominion University. Dr. Zhang is editor-in-chief for the Review of Regional Studies, corresponding editor for Urban Studies, and a member of the Editorial Board of Housing Studies.

Economic Uncertainty and the Housing Market During the Pandemic and Post-Pandemic Period

The COVID-19 pandemic introduced levels of economic and policy uncertainty not previously experienced by the population living through the pandemic.  Economists have theorized that uncertainty can inhibit market participants’ response to policy stimulus through the real option effect (option to ‘wait and see’).  We will discuss whether the behavior of house prices following the COVID-19 pandemic can be explained by the real option effect by examining a sample of 101 housing markets in the United States.  The house prices increased more substantially after the uncertainty had resolved, even though credit began to tighten during this period.  Additionally, the effects were larger in lower priced segments of the housing market where uncertainty was arguably more significantly felt.

Christopher Gori                                                   

Brock Environmental Center, General Manager                                                    

The In's and Out's to the Brock Center

The Chesapeake Bay Foundation built the Brock Environmental Center to engage, inform, and inspire generations about the environment and how we can all help save the Bay. The Center is situated on 118 acres of pristine shoreline along the Lynnhaven River. It is the most sustainable facility in Virginia and an international model for green building since it is constructed from environmentally friendly building materials minimizing the environmental impact. The unique design promotes energy and water conservation and reduces harmful polluted runoff. It is the base to the mobile oyster restoration center and the Virginia Beach Public Schools Environmental Studies Program for high school students. The Center is one of the first buildings in the nation to embrace energy and water independence.

Joshua Wood, JD, MAI, AI-GRS

Senior Managing Director – Litigation, Shareholder, Valbridge Property Advisors

Joshua Wood is a valuation expert, educator, and adjudicator whose practice is centered on the intersection of appraisal theory and the law.

Short Term Rentals

Josh will discuss how Airbnb’s originated and what they are. He will discuss the impact of Airbnb’s on real estate markets. How it has affected residential housing. The impact on rental markets, and the ramifications in the hotel industry.

Bryan S Peeples, Esq.

Pender & Coward, waterfront law practice group, Maritime and Admiralty Attorney

Riparian Property Rights: What an Appraiser Should Consider When Valuing a Property

Defining riparian property rights and real estate considerations. Understanding these rights and how they affect value. Legal cases will be discussed and used as examples of the different rights.

Joseph V. Sherman, P.C.

Joseph Sherman specializes in eminent domain, tenant relocation, easement negotiation, and property rights litigation. He is licensed to practice law in the Commonwealth of Virginia.

Does fair market mean fair market value? Residential appraisals in valuation litigation

Residential appraisals represent a large percentage of all appraisal assignments as residential housing creates a foundation, and thus demand, for commercial and industrial use. Clients often request appraisals to "help resolve legal or tax issues." This presentation outlines uncertainties litigated this year including whether: (1) tax assessments reflect fair market value, (2) residential appraisals consider maximum productivity for an income approach, and (3) if an appraiser can insulate use of an appraisal report by labeling the report "draft."                        

Disclaimer Information

CE credits pending with the Virginia Board of Real Estate Appraisers.

National Disclaimer

This Educational Program was developed and organized by the Appraisal Institute Chapter offering the Program with the intent of addressing topic(s) of current local interest solely for educational and informational purposes. The Appraisal Institute national organization was not involved in developing or organizing the Program.

The content of this Program, including but not limited to any written materials and presenter comments, does not represent the viewpoint of the Appraisal Institute (defined as including but not limited to, the national organization, its Regions, Chapters, members, candidates, affiliates and staff) unless formally adopted by the national Board of Directors. Further, the Appraisal Institute has not peer-reviewed or approved the content of the Program and does not warrant the accuracy or timeliness of the content of the Program. The content of the Program is subject to court decisions and local, state and federal laws and regulations and any such revisions of such laws and regulations.

This Program is presented with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting or other professional advice or services. Nothing in the Program is to be construed as the offering of such advice or services. If expert advice or services are required, attendees and readers are responsible for obtaining such advice or services from appropriate professionals.