Author: Martens Appraisal

Joshua Adamson recently completed appraisals on a portfolio of automotive dealerships in Sedgwick County.  The reports were prepared for estate purposes. Automotive dealerships are special use properties that may present unique challenges to the valuation process.  Joshua’s nearly fifteen years of experience allows him to understand the intricacies of this property type as well as trends in the automotive industry and local market which affect properties where vehicles are sold. Over the last 10 years, Joshua has completed over 120 appraisals on new and pre-owned automobile dealerships across the state of…

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Overall Economic Activity Economic activity expanded at a modest pace overall from April through mid-May, a slight improvement over the previous period. Almost all Districts reported some growth, and a few saw moderate gains in activity. Manufacturing reports were generally positive, but some Districts noted signs of slowing activity and a more uncertain outlook among contacts. Residential construction and real estate both showed overall growth, but both sectors saw wide variation in sentiment across Districts. Reports on consumer spending were generally positive but tempered. Tourism activity was stronger, especially in…

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According to CBRE Research, commercial real estate lending activity in the U.S. was strong in the first quarter of 2019, with equity and debt markets calmed by the Federal Reserve’s decision to hold firm on rates. The CBRE Lending Momentum Index, which tracks the pace of commercial loan closings in the U.S, was relatively unaffected in Q1 2019 reaching 239–an increase of 17.9 percent year-over-year. “Despite recent volatility in the debt and equity markets, the Fed’s decision to leave borrowing costs unchanged has created a favorable commercial lending environment and…

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Multifamily Borrowers Still Have Lots of Options for Constructions Financing Investors can still find the financing they need to develop apartment properties. “If you can get a site to build, there are people who would love to lend on it,” says Bill Leffler, vice president in the multi-housing group of real estate services firm CBRE. Interest rates remain low and many lenders are willing to make multifamily construction loans. However, these lenders have become more cautious as the cost of construction has grown faster than apartment rents in many parts of…

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Commercial appraisals are a fundamental part of assessing the value of a property but the appraisal process can be quite overwhelming, especially for those who haven’t gone through the process before. At Martens Appraisal, we perform over 600 appraisals a year for over 100 different lending institutions. We have experience with all sorts of property types and are here to help. So let’s take a look at the steps of the commercial appraisal process. Identify the Problem Our first step is to determine the client, the intended use of the…

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Overall Economic Activity Economic activity expanded at a slight-to-moderate pace in March and early April. While most Districts reported that growth continued at a similar pace as the previous report, a few Districts reported some strengthening. There was little change in the outlook among contacts in reporting Districts, with those expecting slight-to-modest growth in the months ahead. Reports on consumer spending were mixed but suggested sluggish sales for both general retailers and auto dealers. Reports on tourism were generally more upbeat. Reports on loan demand were mixed, but indicated steady…

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The U.S. hotel industry reported RevPAR rose 1.9% to $89.90 during the week of 31 March to 6 April, according to STR. HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 31 March through 6 April 2019, according to data from STR. In comparison with the week of 1-7 April 2018, the industry recorded the following: • Occupancy: +0.4% to 68.7%• Average daily rate (ADR): +1.5% to US$130.79• Revenue per available room (RevPAR): +1.9% to US$89.90 STR analysts note that performance…

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Martens Appraisal commercial real estate appraisers are familiar with providing commercial appraisal reports for a variety of Government programs, including commercial real estate appraisals for use by the U.S. Small Business Administration. A relatively new extended-maturity loan option from the U.S. Small Business Administration is heating up the real estate market among small businesses that are anxious to purchase properties while the economy is booming and interest rates remain low. In April 2018, the U.S. Small Business Administration announced changes to its 504 loan program to allow for a 25-year maturity on…

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The U.S. hotel industry reported occupancy dropped 0.9% to 70.2% during the week of 10-16 March. ADR rose 0.6% to $134.50, but RevPAR decreased 0.3% to $94.40. The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 10-16 March 2019, according to data from STR. In comparison with the week of 11-17 March 2018, the industry recorded the following: • Occupancy: -0.9% to 70.2%• Average daily rate (ADR): +0.6% to US$134.50• Revenue per available room (RevPAR): -0.3% to US$94.40 Among the Top…

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