News 2016

James Hartman Named President of Society of Golf Appraisers

James Hartman, Senior Managing Director of Valbridge Property Advisors, has been named president of the Society of Golf Appraisers (SGA).

“I’m honored to be named president of the Society of Golf Appraisers,” said Hartman. “The SGA sets the highest standard for golf analysis and is the only golf professional organization of its kind in the world. The SGA is a professional organization of uniquely qualified professional advisors who have demonstrated outstanding expertise in the business of golf.”

SGA’s membership support the integrity and vitality of the golf course industry while promoting the continued enjoyment of the game through the sharing of information and providing the highest quality professional advisory, consulting and valuation services in the golf industry.


Acquisitions by Eminent Domain Require a Very Specific Set of Appraisal Skills

The role of the appraiser is very different when appraising real estate to be acquired by eminent domain than when appraising real estate that is purchased in standard open-market transactions.

"Eminent domain is defined as the right of the sovereign government to take private property for public use upon payment of just compensation." This right is granted to the United States, states, and municipalities, together with their various public agencies. It may also be granted to private persons and corporations. Eminent domain is sometimes also referred to as "condemnation."


Fractional Interest Appraisals in the Context of Estate Planning

Whether gifting an interest in real property to an heir or paying estate taxes, the rights held by the ownership interest are extremely important. If that ownership interest is less than 100%, it can have a tremendous impact on the potential tax savings.

Fractional ownership is simply a percentage ownership in an asset. Owners of fractional shares in an asset share the benefits of that asset, such as usage rights, income sharing, priority access and/or reduced rates.

Why is this important? Because there are issues that affect ownership of a fractional interest that do not apply to 100% fee ownership in real estate. Fractional interests are generally discounted for issues pertaining to a lack of control and a lack of marketability.