Mark Nelson Earns AI-GRS Designation from Appraisal Institute

In the fast-evolving world of commercial real estate appraisal, expertise and precision are not just requirements-they are necessities. It is with great pride that we share news from our own team at Roy R. Fisher: Mark Nelson, our president, earned the prestigious AI-GRS designation from the Appraisal Institute. This accolade is a testament to his unwavering commitment to professional development and his dedication to the highest standards of appraisal practice.

Mark Nelson

Our President, Mark Nelson, recently designated as an AI-GRS.

The AI-GRS (Appraisal Institute-General Review Specialist) designation is a hallmark of excellence in the realm of commercial real estate appraisals, specifically in reviewing appraisals to develop opinions of completeness, accuracy, adequacy, relevance, and reasonableness relative to the work under review. These opinions must be refined through tests of reasonableness to develop reconciled opinions of appropriateness and credibility.   Appraisal review assists lenders in evaluating collateral for mortgage lending and informing property owners and attorneys for litigation support.

Mark’s journey to this achievement underscores not only his dedication but also Roy R. Fisher’s proactive approach to fostering professional growth among our team. You can learn more about what this designation entails on the Appraisal Institute’s page.

With an extensive background in real estate and a well-earned reputation for meticulous attention to detail, Mark has consistently delivered precise and accurate appraisals. His new AI-GRS designation enables him to provide even more comprehensive services, enhancing our capability to meet the diverse needs of our clients with even greater precision. The specialized knowledge and skills Mark has gained, particularly in appraising multi-tenant properties, equip him to navigate the most complex valuation challenges.

This certification enriches his proficiency in conducting comprehensive appraisals and bolsters his capabilities in litigation support-a crucial area for many of our clients navigating legal disputes or regulatory proceedings. Mark’s enhanced skills in appraisal review ensure that we are exceptionally well-prepared to support our clients through complex, high-stakes situations.

As each of their members continue to grow professionally, Roy R. Fisher continues to deliver top-notch service and value to our clients with even the most complex real estate assets. Look to Roy R. Fisher as your trusted advisers for those seeking enhanced, comprehensive, and dependable appraisal services. Please contact us at (563)-355-6606 for any appraisal questions or inquiries.

Our 2024 Commercial Real Estate Predictions

This has been a major year for commercial real estate in the Quad Cities in many ways. Looking into 2024, we have three main predictions based on trends we’re seeing locally, regionally, and nationally.

commercial appraisal and litigation

  1. “There’s a lot of potential for disrupters, whatever they may be.”

2024 is an election year. This isn’t great news for a market that relies on investors who are not interested in gambling when it comes to inflation, interest rates, and other laws which could majorly affect how and where they do business. Additionally, current geopolitical and environmental issues could lead some investors and businesses to pause until the election cycle has ended.

  1. “There’s a lot of capital with no place to go.”

A trend we believe will continue from 2023 and into 2024 is the purchasing of distressed buildings. There are some positives and negatives to this piece. When buying a distressed building, it is important to have the building thoroughly inspected and appraised. Recently, a building purchased in the Quad Cities was found to have nearly $1M in damage due to a collapsed roof. The repairs had been estimated to cost $250,000 a few months before the collapse.

The tension between the existence of start-up capital and the need for major renovations on many buildings in the Quad Cities is leading to some hesitation. On top of this, anyone who has already locked in a low-interest rate on their building is generally not going to move out for a higher interest rate.

  1. “Large corporate offices are still seeing low market values.”

One major disruptor from nearly 4 years ago is the continuation of the effects of the Pandemic. Large corporate offices are not returning to their former value, even as many offices call their employees back to work. There’s a lot of uncertainty and caution among real estate investors because of this new trend.

As 2023 comes to an end, it is important to take stock of the year before moving into the next one. Despite high-interest rates, uncertainty, and population decline, there have been many investments and new businesses appearing in the Quad Cities.

At Roy R. Fisher, we provide commercial real estate appraisal and litigation services. If you are interested in working with us or would like to join our team, please reach out.

On the Winning Side of Property Tax Assessments

Many residential and commercial businesses faced large tax assessment hikes for the 2023 year. Some commercial assessments increased well over 25% between 2022 to 2023. The County and City Assessors typically do a good job of capturing the sales data, but in setting values for some properties, they sometimes land at assessments outside the market norms. That is when an appraisal is helpful.

Roy R. Fisher has been providing appraisals for over 90 years, helping hundreds of Iowa and Illinois businesses and multi-family property owners appeal their tax assessments.

Through July of this year, Roy R. Fisher worked with several property owners to appeal their assessments. We were successful at the Board of Review level in helping the owners get reductions in 11 of 13 appeals where an appraisal was developed. The average reduction from the preliminary 2023 assessments was over 17%. In two cases, the reduction was more than 30% in the preliminary 2023 assessed value.

And we don’t just work with property owners. We have performed several appraisals for City and County Assessors throughout Iowa and Illinois, primarily valuing larger retail and industrial properties. This has helped Assessors and County Boards of Review defend their assessments.

These appraisals require extensive demographic analysis and a wide regional search for comparable data. Our firm strives to serve all our clients with impartiality and a commitment to credibility.