Appraisal Institute - Washington DC Chapter

Events...

REAL ESTATE MARKET UPDATE
ECONOMIC OUTLOOK FOR METRO DC REAL ESTATE 2008 AND BEYOND
Tuesday, October 28, 2008 * 4:30pm – 8:30 pm * Clyde’s of Tysons Corner

Five speakers treated Appraisal Institute members and guests to a rather glum update on the economic outlook for real estate in the Metro DC area. The presenters delivered an overall economic review as well as individual reports for the land, multi-family/condo, retail and office segments of the real estate market covering current inventory, projected supply and demand and investment dynamics for each market segment.

Only two bright spots appeared in the presentations:

Demand for appraisals should be strong in 2009 as banks and the government try to determine the true value of real estate in the area.
There appears to be an uptick in land purchases signaling a market perception that demand will rebound in late '09 or early '10.

See below to view the speakers' handouts.

Speakers:
Kevin Thorpe - Vice President and Director of Research, Cassidy & Pinkard – General Economic Outlook - Handout
Grant Montgomery – Vice President, Delta Associates – Multi-Family/Condo Market - Handout
R. William Kent - Executive Vice President, CB Richard Ellis – Retail Market - Handout
Eric Berkman - Senior Vice President, Institutional Investment Group, Grubb & Ellis Company - Office Market - Handout
Richard Samit, CEO, Fraser Forbes – Land Development Market - No Handout Provided

N.B. This program was developed and is administered by the Appraisal Institute – DC Metro Chapter. Attendees are eligible to receive 2.0 hours of Appraisal Institute continuing education credit.